United States Securities and Exchange Commission 
  Washington, D.C. 20549

Form 10-QSB/A

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

For the quarterly period ended September 30, 2002

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE
  EXCHANGE ACT
  For the transition period from _________ to __________________

Commission File Number: 000-29925

Surge Technologies Corp.
  (Name of Small Business Issuer in its charter)

|Nevada                          | 95-4784883                
|------------------------------- | --------------------------
|(state or other jurisdiction of | (I.R.S. Employer I.D. No.)
|incorporation or organization)  |                           

#14  700 58thAvenue
  S.W., Calgary, Alberta, Canada T2H 2E2 
  (Address of principal executive offices)

(403) 250 - 2442
  
  Issuers telephone number

Boundless Vision Incorporated 
  Former name, former address, and former fiscal year, if changed since last report

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

Yes [X]     No [ ]

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Check whether the registrant filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court.

YES [ ]    NO [ ]    N/A

APPLICABLE ONLY TO CORPORATE ISSUERS

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

As of February 14, 2003, the registrants outstanding common stock consisted of 16,561,352 shares.

Transitional Small Business Disclosure Format (Check one): YES [ ]    NO
  [X]

1

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TABLE OF CONTENTS

|                                             | PAGE 
|-------------------------------------------- | -----
|PART I- FINANCIAL INFORMATION                |      
|                                             |      
|Item 1. Financial Statements                 | 3-15 
|                                             |      
|Item 2. Managements Discussion and Analysis | 15-17
|                                             |      
|PART II- OTHER INFORMATION                   |      
|                                             |      
|Item 1. Legal Proceedings.                   | 17   
|                                             |      
|Item 2. Changes in Securities.               | 17   
|                                             |      
|Item 3. Defaults Upon Senior Securities.     | 17   
|                                             |      
|Item 4. Submission of Matters to a Vote of   |      
|Security Holders.                            | 17   
|                                             |      
|Item 5. Other Information.                   | 17-19
|                                             |      
|Item 6. Exhibits and Report on Form 8-K.     | 19   
|                                             |      
|SIGNATURES.                                  | 20   
|                                             |      
|S. 302 CERTIFICATIONS                        | 21   

2

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PART I- FINANCIAL INFORMATION



Item 1. Financial Statements



Surge Technologies Inc. and Subsidiaries (formerly known as Boundless Vision Incorporated) 
  Consolidated Financial StatementsSeptember 30, 2002



Second Quarter Interim Consolidated Financial Statements 
  For the six month period ended September 30, 2002 and 2001 (unaudited prepared
  by management) 
  And the year ended March 31, 2002.







3

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Surge Technologies Inc. and Subsidiaries (formerly known as Boundless Vision Incorporated)
  Consolidated Balance Sheets (Unaudited)

|                                                                  |   |               |   |   |               |   |   |           |  
|----------------------------------------------------------------- | - | ------------- | - | - | ------------- | - | - | --------- | -
|                                                                  |   | September 30, |   |   | September 30, |   |   | March 31, |  
|                                                                  |   | 2002          |   |   | 2001          |   |   | 2002      |  
|                                                                  |   |               |   |   |               |   |   |           |  
|ASSETS                                                            |   |               |   |   |               |   |   |           |  
|                                                                  |   |               |   |   |               |   |   |           |  
|Current                                                           |   |               |   |   |               |   |   |           |  
|Cash and cash equivalents                                         | $ | 3,595         |   | $ | 53,690        |   | $ | 1,093     |  
|Trade accounts receivable                                         |   | 249,300       |   |   | 266,550       |   |   | 295,842   |  
|Inventory                                                         |   | 248,436       |   |   | 160,628       |   |   | 202,618   |  
|Prepaid expenses                                                  |   | 10,461        |   |   | 40            |   |   | 1,583     |  
|                                                                  |   |               |   |   |               |   |   |           |  
|                                                                  |   |               |   |   |               |   |   |           |  
|                                                                  |   | 511,792       |   |   | 480,908       |   |   | 501,136   |  
|                                                                  |   |               |   |   |               |   |   |           |  
|Property and equipment(Note 4)                                    |   | 110,150       |   |   | 82,080        |   |   | 92,114    |  
|                                                                  |   |               |   |   |               |   |   |           |  
|Intangible asset(Note 5)                                          |   | 2,153         |   |   | 3,610         |   |   | 2,852     |  
|                                                                  |   |               |   |   |               |   |   |           |  
|                                                                  |   |               |   |   |               |   |   |           |  
|                                                                  | $ | 624,095       |   | $ | 566,598       |   | $ | 596,102   |  
|                                                                  |   |               |   |   |               |   |   |           |  
|LIABILITIES AND SHAREHOLDERS DEFICIENCY                          |   |               |   |   |               |   |   |           |  
|                                                                  |   |               |   |   |               |   |   |           |  
|Current                                                           |   |               |   |   |               |   |   |           |  
|Accounts payable                                                  | $ | 678,969       |   | $ | 525,521       |   | $ | 644,167   |  
|Accounts payable - related parties (Note
      9)                 |   | 53,216        |   |   | 56,829        |   |   | 50,742    |  
|                                                                  |   |               |   |   |               |   |   |           |  
|                                                                  |   |               |   |   |               |   |   |           |  
|                                                                  |   | 732,185       |   |   | 582,350       |   |   | 694,909   |  
|                                                                  |   |               |   |   |               |   |   |           |  
|Due to related parties(Note 6)                                    |   | 336,310       |   |   | 425,752       |   |   | 208,049   |  
|                                                                  |   |               |   |   |               |   |   |           |  
|                                                                  |   |               |   |   |               |   |   |           |  
|                                                                  |   | 1,068,495     |   |   | 1,008,102     |   |   | 902,958   |  
|                                                                  |   |               |   |   |               |   |   |           |  
|                                                                  |   |               |   |   |               |   |   |           |  
|Shareholders deficiency                                          |   |               |   |   |               |   |   |           |  
|Capital stock (Note 7)                                            |   |               |   |   |               |   |   |           |  
|Authorized                                                        |   |               |   |   |               |   |   |           |  
|25,000,000
      of common shares with par value of               |   |               |   |   |               |   |   |           |  
|$0.001                                                            |   |               |   |   |               |   |   |           |  
|Issued and outstanding                                            |   |               |   |   |               |   |   |           |  
|September
      30, 2002  15,550,000 common shares               |   |               |   |   |               |   |   |           |  
|September
      30, 2001  763,575 common shares                  |   |               |   |   |               |   |   |           |  
|March
      31, 2002  9,002,435 common shares                    |   | 15,550        |   |   | 763           |   |   | 9,002     |  
|                                                                  |   |               |   |   |               |   |   |           |  
|Additional paid in capital                                        |   | 386,497       |   |   | 22,164        |   |   | 257,814   |  
|Excess of liabilities assumed over assets
      acquired (Note 3) |   | (8,556        | ) |   | -             |   |   | -         |  
|Accumulated foreign currency translation
      adjustments        |   | 10,230        |   |   | 5,407         |   |   | 6,183     |  
|Deficit, accumulated during the development
      stage           |   | (848,121      | ) |   | (469,838      | ) |   | (579,855  | )
|                                                                  |   |               |   |   |               |   |   |           |  
|                                                                  |   |               |   |   |               |   |   |           |  
|                                                                  |   | (444,400      | ) |   | (441,504      | ) |   | (306,856  | )
|                                                                  |   |               |   |   |               |   |   |           |  
|                                                                  |   |               |   |   |               |   |   |           |  
|                                                                  | $ | 624,095       |   | $ | 556,598       |   | $ | 596,102   |  
|                                                                  |   |               |   |   |               |   |   |           |  

Nature of Operations and Going Concern(Note 1) Acquisition of Surge Technologies Inc. (Note 3) Commitments(Note 10)

The accompanying notes are an integral part of these financial statements.

4

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Surge Technologies Inc. and Subsidiaries (formerly known as Boundless Vision Incorporated)
  Consolidated Statements of Loss and Deficit 
  (Unaudited)

|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|------------------------------------------- | - | ------------- | - | - | ------------- | - | - | ------------- | - | - | ------------- | -
|                                            |   | For the       |   |   | For the       |   |   | For the       |   |   | For the       |  
|                                            |   | three month   |   |   | three month   |   |   | six month     |   |   | six month     |  
|                                            |   | period ended  |   |   | period ended  |   |   | period ended  |   |   | period ended  |  
|                                            |   | September 30, |   |   | September 30, |   |   | September 30, |   |   | September 30, |  
|                                            |   | 2002          |   |   | 2001          |   |   | 2002          |   |   | 2001          |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|SALES                                       | $ | 453,056       |   | $ | 489,124       |   | $ | 868,783       |   | $ | 864,188       |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|COST OF SALES                               |   | 374,522       |   |   | 422,800       |   |   | 758,123       |   |   | 733,515       |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|GROSS PROFIT                                |   | 78,534        |   |   | 66,324        |   |   | 110,660       |   |   | 130,673       |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|EXPENSES                                    |   |               |   |   |               |   |   |               |   |   |               |  
|Amortization of intangible asset            |   | 362           |   |   | 366           |   |   | 726           |   |   | 733           |  
|Consulting  related parties (Note
      9) |   | 14,047        |   |   | 28,248        |   |   | 56,495        |   |   | 28,095        |  
|Depreciation of property and equipment      |   | 4,494         |   |   | 3,627         |   |   | 10,940        |   |   | 6,896         |  
|General and administrative                  |   | 152,478       |   |   | 55,189        |   |   | 169,439       |   |   | 137,400       |  
|Interest                                    |   | 10,555        |   |   | 8,839         |   |   | 14,502        |   |   | 16,822        |  
|Operating                                   |   | 61,909        |   |   | 62,171        |   |   | 107,224       |   |   | 111,421       |  
|Rent  related parties (Note 9)             |   | 4,501         |   |   | 9,180         |   |   | 9,002         |   |   | 18,360        |  
|Research and development costs              |   | 4,088         |   |   | 2,694         |   |   | 10,598        |   |   | (2,468        | )
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|                                            |   | 252,434       |   |   | 170,314       |   |   | 378,926       |   |   | 317,259       |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|Net loss for the period                     |   | (118,900      | ) |   | (103,990      | ) |   | (213,266      | ) |   | (186,586      | )
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|Deficit, beginning of period                |   | (674,221      | ) |   | (365,848      | ) |   | (579,855      | ) |   | (283,252      | )
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|Deficit, end of period                      | $ | (848,121      | ) | $ | (469,838      | ) | $ | (848,121      | ) | $ | (469,838      | )
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|Basic loss per share(Note 2)                | $ | (0.015        | ) | $ | (0.101        | ) | $ | (0.025        | ) | $ | (0.172        | )
|                                            |   |               |   |   |               |   |   |               |   |   |               |  

The accompanying notes are an integral part of these financial statements.

5

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Surge Technologies Inc. and Subsidiaries (formerly known as Boundless Vision Incorporated)
  Consolidated Statements of Cash Flows 
  (Unaudited)

|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|------------------------------------------- | - | ------------- | - | - | ------------- | - | - | ------------- | - | - | ------------- | -
|                                            |   | For the       |   |   | For the       |   |   | For the       |   |   | For the       |  
|                                            |   | three month   |   |   | three month   |   |   | six month     |   |   | six month     |  
|                                            |   | period ended  |   |   | period ended  |   |   | period ended  |   |   | period ended  |  
|                                            |   | September 30, |   |   | September 30, |   |   | September 30, |   |   | September 30, |  
|                                            |   | 2002          |   |   | 2001          |   |   | 2002          |   |   | 2001          |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|Cash flows from operating activities        |   |               |   |   |               |   |   |               |   |   |               |  
|Net loss for the period                     | $ | (118,900      | ) | $ | (103,990      | ) | $ | (213,266      | ) | $ | (186,586      | )
|Adjustments
      to reconcile loss to      |   |               |   |   |               |   |   |               |   |   |               |  
|net
      cash used by operating activities |   |               |   |   |               |   |   |               |   |   |               |  
|Translation
      gain (loss)               |   | (2,315        | ) |   | 1,522         |   |   | (4,047        | ) |   | 4,419         |  
|Depreciation
      of property, plant       |   |               |   |   |               |   |   |               |   |   |               |  
|and
      equipment                         |   | 4,494         |   |   | 3,627         |   |   | 10,940        |   |   | 6,896         |  
|Issue
      of share capital for services   |   | 55,000        |   |   | -             |   |   | 55,000        |   |   | -             |  
|Amortization
      of intangible assets     |   | 362           |   |   | 366           |   |   | 726           |   |   | 733           |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|                                            |   | (116,359      | ) |   | (98,475       | ) |   | (205,647      | ) |   | (174,538      | )
|Changes in operating assets and liabilities |   |               |   |   |               |   |   |               |   |   |               |  
|(Increase)
      decrease in trade accounts |   |               |   |   |               |   |   |               |   |   |               |  
|receivable                                  |   | 67,969        |   |   | (54,551       | ) |   | 46,542        |   |   | (30,365       | )
|(Increase)
      decrease in inventory      |   | (7,203        | ) |   | 31,682        |   |   | (45,818       | ) |   | 2,998         |  
|(Increase)
      decrease in prepaid        |   |               |   |   |               |   |   |               |   |   |               |  
|expenses                                    |   | (4,936        | ) |   | 9,429         |   |   | (8,878        | ) |   | 6,770         |  
|Increase
      (decrease) in accounts       |   |               |   |   |               |   |   |               |   |   |               |  
|payable                                     |   | (86,792       | ) |   | 49,592        |   |   | 35,008        |   |   | 80,299        |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|Increase
      (decrease) in loan from      |   |               |   |   |               |   |   |               |   |   |               |  
|related
      company                       |   | -             |   |   | -             |   |   | -             |   |   | (19,251       | )
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|                                            |   | (147,321      | ) |   | (62,323       | ) |   | (178,793      | ) |   | (134,087      | )
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|Cash flows from investing activities        |   |               |   |   |               |   |   |               |   |   |               |  
|Purchase
      of intangible assets         |   |               |   |   |               |   |   |               |   |   |               |  
|Purchase
      of property, plant, and      |   | -             |   |   | -             |   |   | -             |   |   | -             |  
|equipment                                   |   | (4,992        | ) |   | (4,058        | ) |   | (20,907       | ) |   | (5,172        | )
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|                                            |   | (4,992        | ) |   | (4,058        | ) |   | (20,907       | ) |   | (5,172        | )
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|Cash flows from financing activities        |   |               |   |   |               |   |   |               |   |   |               |  
|Increase
      in amounts due               |   |               |   |   |               |   |   |               |   |   |               |  
|to
      shareholders                       |   | 98,321        |   |   | 66,361        |   |   | 124,971       |   |   | 137,456       |  
|Issue
      of share capital for cash       |   | 54,222        |   |   | 16,172        |   |   | 77,231        |   |   | 22,613        |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|                                            |   | 152,543       |   |   | 82,533        |   |   | 202,202       |   |   | 160,069       |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|Increase (decrease) in cash and cash        |   |               |   |   |               |   |   |               |   |   |               |  
|equivalents                                 |   | 230           |   |   | 16,152        |   |   | 2,502         |   |   | 20,810        |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|Cash and cash equivalents,                  |   |               |   |   |               |   |   |               |   |   |               |  
|beginning
      of period                   |   | 3,365         |   |   | 37,538        |   |   | 1,093         |   |   | 32,880        |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  
|Cash and cash equivalents,                  |   |               |   |   |               |   |   |               |   |   |               |  
|end
      of period                         | $ | 3,595         |   | $ | 53,690        |   | $ | 3,595         |   | $ | 53,690        |  
|                                            |   |               |   |   |               |   |   |               |   |   |               |  

Supplemental disclosures of cash flow information (Note 12)

The accompanying notes are an integral part of these financial
  statements.

6

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Surge Technologies Inc. and Subsidiaries (formerly known as Boundless Vision Incorporated)
  Consolidated Statements of Changes in Shareholders Equity 
  (Unaudited)

|                              |  |            |  |   |           |  |   |            |  |   |             |   |   |             |   |   |              |   |   |               |  
|----------------------------- |  | ---------- |  | - | --------- |  | - | ---------- |  | - | ----------- | - | - | ----------- | - | - | ------------ | - | - | ------------- | -
|                              |  |            |  |   |           |  |   |            |  |   | Accumulated |   |   |             |   |   | Excess of    |   |   |               |  
|                              |  |            |  |   |           |  |   |            |  |   | Foreign     |   |   |             |   |   | Liabilities  |   |   |               |  
|                              |  | Number     |  |   |           |  |   | Additional |  |   | Currency    |   |   |             |   |   | Assumed over |   |   |               |  
|                              |  | Of Shares  |  |   | Par-value |  |   | Paid-in    |  |   | Translation |   |   | Accumulated |   |   | Assets       |   |   | Shareholders |  
|                              |  | Issued     |  |   | Amount    |  |   | Capital    |  |   | Adjustments |   |   | Deficit     |   |   | Acquired     |   |   | Deficiency    |  
|                              |  |            |  |   |           |  |   |            |  |   |             |   |   |             |   |   |              |   |   |               |  
|Balance at April 1, 2001      |  | 10,453     |  | $ | 10        |  | $ | 304        |  | $ | 9,826       |   | $ | (283,252    | ) | $ | -            |   | $ | (273,112      | )
|Shares issued for cash        |  | 753,122    |  |   | 753       |  |   | 21,860     |  |   | -           |   |   | -           |   |   | -            |   |   | 22,613        |  
|Translation gain (loss)       |  | -          |  |   | -         |  |   | -          |  |   | (4,419      | ) |   | -           |   |   | -            |   |   | (4,419        | )
|Net loss for the period       |  | -          |  |   | -         |  |   | -          |  |   | -           |   |   | (186,586    | ) |   | -            |   |   | (186,586      | )
|                              |  |            |  |   |           |  |   |            |  |   |             |   |   |             |   |   |              |   |   |               |  
|                              |  |            |  |   |           |  |   |            |  |   |             |   |   |             |   |   |              |   |   |               |  
|Balance at September 30, 2001 |  | 763,575    |  | $ | 763       |  | $ | 22,164     |  | $ | 5,407       |   | $ | (469,838    | ) | $ | -            |   | $ | (441,504      | )
|                              |  |            |  |   |           |  |   |            |  |   |             |   |   |             |   |   |              |   |   |               |  
|                              |  |            |  |   |           |  |   |            |  |   |             |   |   |             |   |   |              |   |   |               |  
|Balance at April 1, 2001      |  | 10,453     |  | $ | 10        |  | $ | 304        |  | $ | 9,826       |   | $ | (283,252    | ) | $ | -            |   | $ | (273,112      | )
|Shares issued for cash        |  | 1,342,683  |  |   | 1,342     |  |   | 38,450     |  |   | -           |   |   | -           |   |   | -            |   |   | 39,792        |  
|Shares issued for debt        |  | 7,649,299  |  |   | 7,650     |  |   | 219,060    |  |   | -           |   |   | -           |   |   | -            |   |   | 226,710       |  
|Translation gain (loss)       |  | -          |  |   | -         |  |   | -          |  |   | (3,643      | ) |   | -           |   |   | -            |   |   | (3,643        | )
|Net loss for the period       |  | -          |  |   | -         |  |   | -          |  |   | -           |   |   | (296,603    | ) |   | -            |   |   | (296,603      | )
|                              |  |            |  |   |           |  |   |            |  |   |             |   |   |             |   |   |              |   |   |               |  
|                              |  |            |  |   |           |  |   |            |  |   |             |   |   |             |   |   |              |   |   |               |  
|Balance at March 31, 2002     |  | 9,002,435  |  | $ | 9,002     |  | $ | 257,814    |  | $ | 6,183       |   | $ | (579,855    | ) | $ | -            |   | $ | (306,856      | )
|                              |  |            |  |   |           |  |   |            |  |   |             |   |   |             |   |   |              |   |   |               |  
|                              |  |            |  |   |           |  |   |            |  |   |             |   |   |             |   |   |              |   |   |               |  
|Balance at April 1, 2002      |  | 9,002,435  |  | $ | 9,002     |  | $ | 257,814    |  | $ | 6,183       |   | $ | (579,855    | ) | $ | -            |   | $ | (306,856      | )
|Shares issued for cash        |  | 2,997,565  |  |   | 2,998     |  |   | 74,233     |  |   | -           |   |   | -           |   |   | -            |   |   | 77,231        |  
|Shares issued for services    |  |            |  |   |           |  |   |            |  |   |             |   |   |             |   |   |              |   |   |               |  
|(Note 12)                     |  | 550,000    |  |   | 550       |  |   | 54,450     |  |   | -           |   |   | -           |   |   | -            |   |   | 55,000        |  
|Acquisition of Boundless      |  |            |  |   |           |  |   |            |  |   |             |   |   |             |   |   |              |   |   |               |  
|Vision Incorporated           |  | 3,000,000  |  |   | 3,000     |  |   | -          |  |   | -           |   |   | -           |   |   | (8,556       | ) |   | (5,556        | )
|Translation gain (loss)       |  | -          |  |   | -         |  |   | -          |  |   | 4,047       |   |   | -           |   |   | -            |   |   | 4,047         |  
|Net loss for the period       |  | -          |  |   | -         |  |   | -          |  |   | -           |   |   | (213,266    | ) |   | -            |   |   | (213,266      | )
|                              |  |            |  |   |           |  |   |            |  |   |             |   |   |             |   |   |              |   |   |               |  
|                              |  |            |  |   |           |  |   |            |  |   |             |   |   |             |   |   |              |   |   |               |  
|Balance at September 30, 2002 |  | 15,550,000 |  | $ | 15,550    |  | $ | 383,497    |  | $ | 10,230      |   | $ | (848,121    | ) | $ | (8,556       | ) | $ | (444,400      | )
|                              |  |            |  |   |           |  |   |            |  |   |             |   |   |             |   |   |              |   |   |               |  

The accompanying notes are an integral part of these financial statements.

7

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|Surge Technologies Inc. and Subsidiaries  
|------------------------------------------
|(Formerly Boundless Vision Incorporated)  
|Notes to Consolidated Financial Statements
|(Unaudited)                               
|September 30, 2002                        
|                                          

|**1.** | Nature of Operations and Going Concern
      Surge Technologies Corp. (formerly known as Boundless
        Vision Incorporated) (the Company) was incorporated
        under the laws of the State of Nevada, United States of America, on January
        31, 2000. Initially, the business of the Company was to prognosticate
        trends, including business and economic trends, business cycles, demographics
        and related areas. The Company, through the acquisition of Surge Technologies
        Inc. commenced the production and sales of electronic communication equipment.
      The consolidated financial statements presented are
        those of Surge Technologies Corp., and its subsidiaries Surge Technologies
        Inc. (Surge), a Canadian company, and Surge Acquisition Corp.
        (Surge Nevada), a company incorporated in the State of Nevada
        (collectively, the Company). References to Boundless
        relate to transactions of Boundless Vision Incorporated prior to the merger
        with Surge and Surge Nevada discussed in note 3. References to Surge and
        Surge Nevada relate to transactions of Surge and Surge Nevada respectively
        prior to the merger discussed in note 3. All significant inter-company
        balances and transactions have been eliminated in consolidation.
      The consolidated condensed interim financial statements
        presented herein have been prepared by the Company, without audit, pursuant
        to the rules and regulations of the Securities and Exchange Commission
        (SEC). Certain information and footnote disclosures normally
        included in financial statements prepared in accordance with generally
        accepted accounting principles have been condensed or omitted pursuant
        to such rules and regulations, although the Company believes the disclosures
        are adequate to make information presented not misleading.
      These statements reflect all adjustments, consisting
        of normal recurring adjustments, which, in the opinion of management,
        are necessary for fair presentation of the information contained therein.
        For further information, refer to the audited financial statements and
        notes included in the Companys Form 10-KSB filing for December 31,
        2001. The Company follows the same accounting policies in preparation
        of interim reports.
      Results of operations for the interim period are not
        necessarily indicative of the results that may be expected for the year
        ended March 31, 2003.
      The Companys financial statements as at September
        30, 2002 and for the three and six month periods then ended have been
        prepared on a going concern basis, which contemplates the realization
        of assets and the settlement of liabilities and commitments in the normal
        course of business. The Company has a loss of $268,266 for the six month
        period ended September 30, 2002 (September 30, 2001 - $186,586), and has
        a working capital deficit of $220,393 at September 30, 2002.
      Management cannot provide assurance that the Company
        will ultimately achieve profitable operations or become cash flow positive,
        or raise additional debt and/or equity capital. However, based on its
        prior demonstrated ability to raise capital, management believes that
        the Companys capital resources should be adequate to continue operating
        and maintain its business strategy during fiscal 2003. However, if the
        Company is unable to raise additional capital in the near future, due
        to
|------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

8

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|       | the Companys liquidity problems, management
        expects that the Company will need to curtail operations, liquidate assets,
        seek additional capital on less favorable terms and/or pursue other remedial
        measures. These financial statements do not include any adjustments relating
        to the recoverability and classification of assets or the amounts and
        classification of liabilities that might be necessary should the Company
        be unable to continue as a going concern.                                                                                                                                                                                                           
|------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|**2.** | Summary of Significant Accounting Policies
      Cash and cash equivalents
      Cash and cash equivalents include highly liquid investments with original
        maturities of three months or less.
      Inventory
      Inventory of raw materials and supplies are valued at
        the lower of actual cost and replacement cost. Inventory of work in process
        and finished goods are valued at the lower of cost and net realizable
        value.
      Property and Equipment
      Property and equipment are stated at cost. Depreciation
        is provided over the estimated useful life of each asset using the following
        annual rates, with half the rate being applied in the year of acquisition.

| | Equipment                      | 30% declining balance
| | ------------------------------ | ---------------------
| | Injection moulds               | 10 year straight line
| | Leasehold improvements         | 5 year straight line 
| | Manufacturing license          | 5 year straight line 
| | Office furniture and fixtures  | 20% declining balance
| | Patents and trademarks pending | 10 year straight line
| | Tools                          | 100%                 

| | The cost of normal maintenance and repairs is charged
        to operating expenses as incurred. Material expenditures, which increase
        the life of an asset, are capitalized and depreciated over the estimated
        remaining useful life of the asset. The cost of properties sold, or otherwise
        disposed of, and the related accumulated depreciation are removed from
        the accounts, and any gains or losses are reflected in current operations.
      Intangible Assets
      Intangible assets are amortized using the straight-line
        method over their estimated period of benefit. Management of the Company
        periodically evaluates the recoverability of intangible assets and takes
        into account events or circumstances that warrant revised estimates of
        useful lives or that indicate that an impairment exists.
      Loss Per Common Share
      The Company has adopted SFAS No. 128 which establishes
        standards for computing and presenting earnings per share (EPS) for entities
        with publicly held common stock. The standard requires presentation of
        two categories of EPS  basic EPS and diluted EPS. Basic EPS excludes
        dilution and is computed by dividing income available to common shareholders
        by the weighted-average number
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

9

---

| | of common shares outstanding for the year. Diluted
        EPS reflects the potential dilution that could occur if securities or
        other contracts to issue common stock were exercised or converted into
        common stock or resulted in the issuance of common stock that then shared
        in the earnings of the Company. The Company had no potentially dilutive
        securities at September 30, 2002 or 2001. Accordingly, basic and diluted
        EPS are the same for each of the three and six month periods ended September
        30, 2002 and 2001. The EPS calculation for the periods ended September
        30, 2002 and 2001 was performed assuming the historical 4,907,728 shares
        outstanding for Surge were converted into the 12,000,000 Boundless shares
        as of April 1, 2001.
      For the three and six month periods ended September
        30, 2002, the weighted average number of common shares outstanding was
        11,928,427 (September 30, 2001 – 1,030,796) and 10,895,004 (September
        30, 2001 – 1,082,034).
      Revenue Recognition
      Revenues from the sale of products are recorded when
        the product is shipped, title and risk of loss have transferred to the
        purchaser, payment terms are fixed or determinable and payment is reasonably
        assured. Revenues from service contracts are recognized when performance
        of the service is complete or over the term of the contract.
      Income Taxes
      The Company provides for income taxes using the asset
        and liability method as prescribed by Statement of Financial Accounting
        Standards No. 109, Accounting for Income Taxes. Under the asset and liability
        method, deferred tax assets and liabilities are recognized for the future
        tax consequences attributable to differences between the financial statement
        carrying amount 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. Under Statement
        109, 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.
      Use of Estimates
      The preparation of financial statements, in conformity
        with generally accepted accounting principles, requires management to
        make estimates and assumptions that affect the amounts reported in these
        financial statements and the accompanying notes. Actual results could
        differ from those estimates.
      Financial Instruments
      The carrying value of financial instruments potentially
        subject to valuation risk, consisting principally of cash and cash equivalents,
        accounts receivable, accounts payable and notes payable approximates fair
        value, because of the short-term maturity of these instruments or actual
        interest rates that approximated the Companys effective borrowing
        rate.
      Comprehensive Income
      Components of comprehensive income are net income and
        all other non-owner changes in equity. SFAS No. 130 requires an enterprise
        to (a) classify items of other comprehensive income by their nature in
        a financial statement, and (b) display the accumulated balance of other
        comprehensive income separately from retained earnings and additional
        paid-in capital in the equity section of a
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

10

---

|   | statement of financial position. The Company
        has no items of comprehensive income for the six month period ended September
        30, 2002 or 2001.
      Foreign Currency
      Transactions in foreign currencies are translated into
        United States dollars at the rates in effect on the transaction date.
        Exchange gains or losses arising on translation or settlement of foreign
        currency denominated monetary items are included in the statement of operations.
      Research and Development Costs
      Research and development costs are expensed as incurred.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|3. | Acquisition of Surge Technologies Inc.
      On September 3, 2002, Boundless completed a business
        combination with Surge, a company incorporated in the province of Alberta,
        Canada, and Surge Nevada which is incorporated in the state of Nevada.
        Surge manufactures and sells electronic communications equipment. Surge
        Nevada is essentially an inactive company with no operations or assets.
      Boundless issued 12,000,000 common shares to 100% of
        the former shareholders of Surge in exchange for 100% of the issued and
        outstanding capital stock of Surge which totaled 4,907,728 shares. The
        shares issued constitute 80% of the common stock of the Company after
        completion of the merger, and have been valued at $12,000, the par-value
        of the common shares issued by Boundless on the date of closing. The issue
        of 80% of the common stock of Boundless to the former shareholders of
        Surge, the right of such shareholders to appoint a majority of the directors
        of Boundless, and the continuation of the Surge management team is deemed
        to constitute a change of control of Boundless.
      On September 3, 2002, Boundless purchased 100% of the
        shares of Surge Nevada for $1.
      As a result of the change in control discussed above,
        for financial reporting purposes, the acquisition of Surge by Boundless
        has been treated as a reverse acquisition. Surge is the continuing entity
        for financial reporting purposes and as a result of Boundless plan
        to cease its operations at the time of the merger, the acquisition has
        been treated as a recapitalization of the Company. Accordingly, no goodwill
        has been recorded as a result of the acquisition. The net assets of Boundless
        acquired in the transaction are recorded at their historical recorded
        value, which approximates their fair market value. This resulted in the
        recording of liabilities in excess of assets of $8,556 as a deficit in
        the equity section of the financial statements. The historical financial
        statements prior to the acquisition are the financial statements of Surge.
        For legal purposes, Boundless will remain the surviving entity.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|4. | Property and Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

| |                                    |   |         |  |   |              |  |   | 2002     |  |   | 2001     | 
| | ---------------------------------- | - | ------- |  | - | ------------ |  | - | -------- |  | - | -------- | 
| |                                    |   |         |  |   |              |  |   |          |  |   |          | 
| |                                    |   |         |  |   | Accumulated  |  |   | Net Book |  |   | Net Book | 
| |                                    |   | Cost    |  |   | Depreciation |  |   | Value    |  |   | Value    | 
| |                                    |   |         |  |   |              |  |   |          |  |   |          | 
| |                                    |   |         |  |   |              |  |   |          |  |   |          | 
| | Equipment                          | $ | 25,575  |  | $ | 8,149        |  | $ | 17,426   |  | $ | 12,188   | 
| | Injection moulds, dies and tooling |   | 102,217 |  |   | 12,837       |  |   | 89,380   |  |   | 65,407   | 
| | Leasehold improvements             |   | 774     |  |   | 39           |  |   | 735      |  |   | 2,022    | 
| | Office furniture and fixtures      |   | 3,502   |  |   | 893          |  |   | 2,609    |  |   | 2,463    | 
| |                                    |   |         |  |   |              |  |   |          |  |   |          | 
| |                                    | $ | 132,068 |  | $ | 21,918       |  | $ | 110,150  |  | $ | 82,080   | 

11

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|5. | Intangible Asset
|-- | ----------------

| |                       |   |       |  |   |              |  |   | 2002     |  |   | 2001     | 
| | --------------------- | - | ----- |  | - | ------------ |  | - | -------- |  | - | -------- | 
| |                       |   |       |  |   |              |  |   |          |  |   |          | 
| |                       |   |       |  |   | Accumulated  |  |   | Net Book |  |   | Net Book | 
| |                       |   | Cost  |  |   | Amortization |  |   | Value    |  |   | Value    | 
| |                       |   |       |  |   |              |  |   |          |  |   |          | 
| |                       |   |       |  |   |              |  |   |          |  |   |          | 
| | Manufacturing license | $ | 4,308 |  | $ | 2,155        |  | $ | 2,153    |  | $ | 3,610    | 
| |                       |   |       |  |   |              |  |   |          |  |   |          | 
| |                       |   |       |  |   |              |  |   |          |  |   |          | 
| |                       | $ | 4,308 |  | $ | 2,155        |  | $ | 2,153    |  | $ | 3,610    | 
| |                       |   |       |  |   |              |  |   |          |  |   |          | 

| | The Company has recorded amortization of intangible
        assets in the amount of $726 and $733 for the six month periods ended
        September 30, 2002 and 2001. Estimated amortization of intangible assets
        over the next five years is estimated as follows:
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|2003 | $ | 726   | 
|---- | - | ----- | 
|2004 |   | 1,427 | 
|2005 |   | -     | 
|2006 |   | -     | 
|2007 |   | -     | 
|     |   |       | 
|     |   |       | 
|     | $ | 2,153 | 
|     |   |       | 

|6. | Due to Related Parties
      Amounts due to related parties are due to shareholders and directors
        of the Company.
      A total of $167,902 (September 30, 2001 - $300,953)
        bears interest at 10% per annum compounded annually, is unsecured and
        has no fixed terms of repayment. During the six month period ended September
        30, 2002, the Company paid or accrued interest of $4,267 (2001 - $14,531)
        on this amount.
      A total of $168,408 (September 30, 2001 - $124,799)
        is non-interest bearing, unsecured and has no fixed terms of repayment.
        This amount will be paid when the Company has the necessary financial
        resources as determined by the Board of Directors.
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|7. | Capital Stock
      The authorized capital stock of the Company consists of 25,000,000 common
        shares with a par-value of $0.001.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|8. | Research and Development Costs
      The Company incurred research and development costs
        in the amount of $10,598 during the six month period ended September 30,
        2002 (September 30, 2001  recovery of $2,468). This amount has been
        recognized as an expense.                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|9. | Related Party Transactions
      During the six month period ended September 30, 2002,
        the Company paid or accrued $43,989 (September 30, 2001 - $26,784) to
        directors and officers of the Company for management services.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        

12

---

|        | During the six month period ended September 30, 2002,
        the Company paid or accrued $12,056 (September 30, 2001 - $15,311) to
        directors and officers of the Company for consulting services.
      The Company entered into a sub-lease agreement for warehouse
        space from a shareholder, commencing July 1, 2000 and expiring June 30,
        2002 and the Company bears a pro-rata share of rent, utilities and property
        tax which aggregated $2,901 (2001 - $5,695) and which represents managements
        estimate of the fair market value of the rental and occupancy costs of
        the property. Included in accounts payable at September 30, 2002 is an
        amount of $2,974 (2001 - $1,750) due to the shareholder. This amount is
        unsecured and non-interest bearing.
      The Company has a sub-lease agreement for office space
        with a company, related by way of shareholder in common, expiring June
        30, 2002. The pro-rata share of rent, utilities and property tax aggregated
        $6,101 (2001 - $12,065) representing managements estimate of the
        fair market value of the rental and occupancy costs of the property. Included
        in accounts payable at September 30, 2002 is an amount of $50,242 (2001
        - $55,079) payable to the related company. This amount is unsecured and
        has no fixed terms of repayment. Commencing April 1, 2001, these amounts
        bore interest at 10% per annum. During the six month period ended September
        30, 2002, interest expense in the amount of $2,517 (2001 - $3,103) was
        recorded related to this obligation.
|------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|**10.** | Commitments
      The Company is committed to the following minimum annual
        base rent payments for the sublease of its office and warehouse and operating
        leases for office equipment.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             

| | 2003 | $ | 31,058  | 
| | ---- | - | ------- | 
| | 2004 |   | 64,032  | 
| | 2005 |   | 66,110  | 
| | 2006 |   | 69,531  | 
| | 2007 |   | 68,279  | 
| | 2008 |   | 17,458  | 
| |      |   |         | 
| |      |   |         | 
| |      | $ | 316,468 | 
| |      |   |         | 

|        | The above includes the basic rent payments for a new lease agreement for
      office, production and warehouse premises entered into by the Company, commencing
      July 1, 2002 and ending June 30, 2007.
|------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                                                                                              
|**11.** | Income Taxes
      The Companys deferred tax assets consist of the following at September
        30, 2002:                                                                                                 

| | Tax effect of loss carry forwards                          | $ | 272,952  |  
| | ---------------------------------------------------------- | - | -------- | -
| | Tax effect of property and equipment and intangible assets |   | (40,760  | )
| | Valuation allowance                                        |   | (232,192 | )
| |                                                            |   |          |  
| |                                                            |   |          |  
| | Net deferred tax asset                                     | $ | -        |  
| |                                                            |   |          |  

13

---

| | A full valuation allowance has been provided against
        all of the Companys deferred tax assets, as it cannot be determined
        if it is not more likely than not that the assets will be realized.
      The Companys effective tax rate of zero in 2002
        differs from the federal tax rate of 39% because of the following:
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Federal Statutory Rate          | (39% | )
| | ------------------------------- | ---- | -
| | Increase in Valuation Allowance | 39%  |  
| |                                 |      |  
| |                                 |      |  
| | Effective Tax Rate              | 0%   |  
| |                                 |      |  

|12. | Supplemental Disclosures with Respect to Cash Flows
|--- | ---------------------------------------------------

| |                                            |   |      |  |   |      | 
| | ------------------------------------------ | - | ---- |  | - | ---- | 
| |                                            |   | 2002 |  |   | 2001 | 
| |                                            |   |      |  |   |      | 
| |                                            |   |      |  |   |      | 
| | Cash paid during the year for interest     | $ | Nil  |  | $ | Nil  | 
| |                                            |   |      |  |   |      | 
| |                                            |   |      |  |   |      | 
| | Cash paid during the year for income taxes | $ | Nil  |  | $ | Nil  | 
| |                                            |   |      |  |   |      | 

|        | On September 3, 2002, the Company completed a business
        combination with Surge by issuing 12,000,000 common shares of the Company
        for 100% of the issued and outstanding common shares of Surge. This transaction
        has been treated as a reverse acquisition (Note 3).
      During the six month period ended September 31, 2002,
        the Company issued 550,000 common shares of the Company for consulting
        services valued at $81,000.
      During the year ended March 31, 2002, the Company issued
        7,649,299 common shares in payment of $220,710 due to shareholders of
        the Company
|------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|**13.** | Segmented Information
      The Company operates in Canada and the United States within the telecommunications
        sector.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              

| | Geographic information | Sales based on location of |               | Net book value of capital assets |  
| | ---------------------- | -------------------------- | ------------- | -------------------------------- | -
| |                        | customer                   |               | based on location of assets      |  
| |                        |                            |               |                                  |  
| |                        |                            | September 30, |                                  |  
| |                        |                            | 2002          |                                  |  
| |                        |                            |               |                                  |  
| |                        |                            |               |                                  |  
| | Canada                 | $                          | 616,835       |                                  | $
| | United States          |                            | 251,948       |                                  |  
| |                        |                            |               |                                  |  
| |                        |                            |               |                                  |  
| |                        | $                          | 868,783       |                                  | $
| |                        |                            |               |                                  |  

|**14.** | Subsequent Events
      Subsequent to September 30, 2002, the Company issued 654,000 common
        shares for services valued at $81,000.
      Subsequent to September 30, 2002 the Company issued 907,352 common shares
        at for cash consideration of $226,838.
|------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

14

---

Item 2. Managements Discussion and Analysis

The following discusses our financial condition and results
  of operations based upon our consolidated financial statements which have been
  prepared in accordance with generally accepted accounting principles. It should
  be read in conjunction with our financial statements and the notes thereto and
  other financial information included in this Form 10 QSB for the six-month period
  ended September 30, 2002.

Overview

On March 10, 2000 the Company filed a Registration Statement
  on Form 10-SB with the United States Securities and Exchange Commission. The
  Registration Statement went effective on May 9, 2000.

The business of the Company is to prognosticate trends, including
  business and economic trends, business cycles, demographics and related areas.

The Company, which has no employees, is a development stage
  enterprise. From inception to date the Company has had no revenues.

The Company's management is seeking funding from a variety
  of sources. However, there can be no assurance management will be successful
  in these endeavors. For the remainder of calendar 2002, and the first half of
  calendar 2003 absent other funding being obtained, the Company's primary funding
  source will be its investors group who will provide funding for corporate expenses.

As of September 3, 2002 the company merged with Surge Technologies
  Inc. of Calgary, Alberta Canada by way of a reverse merger. Surge is an integrated
  company that researches, designs, manufactures, markets and distributes a number
  of generic and special application electrical surge protection devices. The
  primary product focus is electrical surge limiting terminals that combine easy
  field line installation with protection from transient voltage, lightning, induction
  or electronic discharge. The Companys ability to quickly research, design,
  and produce specialty products, has allowed Surge to develop a market niche
  supplying custom built products to prominent telecommunication companies in
  both Canada and the US.

Results of Operations

For the six months ended September 30, 2002 compared to September 30, 2001

Revenues for the six months ended September 30, 2002 were
  $868,783, substantially the same as for the six month period ending September
  30, 2001 which were $864,188. The lack of growth during the six month period
  ending September 30, 2002 was largely due to the downturn in the telecom sector.

The cost of goods sold as a percentage of sales was 87.3%
  for the six months ended September 30, 2002. This is an increase of 2.5% over
  the same six-month period in the prior year. The increase of cost of goods sold
  was the result of the increase in modules sold in the three-months ending June
  30, 2002. The modules are a sell-through product and have a lower
  margin than our manufactured products. We have two types of products: manufactured
  products and sell-through products. Manufactured products are assembled by Surge
  whereas sell through products are purchased from suppliers and sold
  to our customers. For sell through products we act as a distributor.
  The two types of products are distinctly different and do not compete with each
  other. Our cost of goods sold on the manufactured products is less than
  on the sell-through products. As a result, changes in the sales mix incorporating
  a significant amount of sell through products will have an impact
  on the overall cost of goods sold percentage. Currently only 2% of annual sales
  revenues is generated as a result of sell through products. We have
  designed manufactured products to replace the sell-

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through products. As these manufactured products replace the
  sell-through products during the next year margins will improve.

Gross profit for the six months ended September 30, 2002 of
  $110,660 declined by $20,013 from the corresponding period in the prior year.
  This decrease was the result of the change in the product mix for the 2002 period.

Operating, General and Administrative expenses for the six-months
  ended September 30, 2002 of $378,926 is an increase of $61,667 or 19.4% over
  the same period in the prior year. This increase resulted primarily from the
  professional fees resulting from the 2001 and 2002 audits being conducted during
  this six-month period.

Depreciation expense increased for the six-month period ended
  September 30, 2002 when compared to the six-months ended September 30, 2001
  by $4,044 to $10,940. This increase resulted from the purchase of additional
  capital property and the corresponding depreciation as well as the increase
  in intangible assets.

Interest expense paid to a shareholder declined by 13.8% from
  $16,822 for the six-months ending September 30, 2001 to the $14,502 incurred
  for the six-months ending September 30, 2002. This decrease resulted from the
  shareholder converting a portion of the loan into share capital.

Net income for the six-month period ended September 31, 2002
  was a loss of $268,266 or $0.025 per share as compared to the same period the
  previous year of $186,586 or $0.172 per share.

Liquidity and Capital Resources

We do not have an operating line of credit or a term loan
  from a financial institution consequently bank indebtedness at March 31 and
  September 30, 2002 is nil. We did have monies on deposit of $3,595 on September
  30, 2002 and $1,093 on March 31, 2002.

The accompanying financial statements have been prepared on
  a going concern basis, which contemplates the realization of assets and the
  settlement of liabilities and commitments in the normal course of business.
  We incurred a loss of $296,603 for the year ended March 31, 2002 and had a working
  capital deficit of $193,773 at March 31, 2002 which produced a current ratio
  of 0.73 to 1.0.

Investing activities consist of the acquisition of property
  and equipment and the development of new products. For the six months ended
  September 30, 2002 we invested $20,907 in property and equipment.

We have funded business operations from product sales, equity
  investment, loans from related parties and working capital. Operations were
  funded through equity investments of $77,231 and loans from related parties
  of $124,971 for the six month period ended September 30, 2002. We expect to
  achieve break-even operations in the next year and fund operations from positive
  cash flows. Our business plan contemplates an equity financing of up to $750,000
  for development and marketing of our electrical surge devices. If we are not
  successful at raising this amount, we will have to reduce expenses associated
  with all operations in order to avoid continued losses. The ability to raise
  the financing is subject to market conditions, which currently do not favour
  investments in the telecom sector. A reduction in expenses would jeopardize
  our ability to carry out our new business strategy and consequently reduce or
  eliminate future growth, which would adversely affect the value of an investment
  in our company.

To date we have not invested in derivative securities or any
  other financial instruments that involve a high level of complexity or risk.
  We plan to invest any excess cash in investment grade interest bearing securities.

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We believe it will meet working capital requirements for the
  next 12 months from invested capital and operating activities. The expected
  growth of the business will have to be partially funded by additional equity
  to support the higher inventory and accounts receivable levels. There can be
  no assurance additional financing will be available on acceptable terms, if
  at all. If adequate funds are not available, we may be unable to develop or
  enhance our products, take advantage of future opportunities or respond to competitive
  pressures.

Our only material commitments as at September 30, 2002 are
  a supply agreement with a major national Canadian telecommunications provider
  and our lease for our building premises. The total commitment for the next 12
  months is $31,058.

There are no known trends or uncertainties that will have
  a material impact on revenues.

PART II- OTHER INFORMATION

Item 1. Legal Proceedings

The Company is not a party to any pending legal proceeding.
  Management is not aware of any threatened litigation, claims or assessments.

Item 2. Changes in Securities

On September 3, 2002 Boundless Vision Incorporated issued
  shares from treasury as part of a merger with Surge Technologies Inc. (Alberta).
  Pursuant to the Merger Agreement the Acquirer acquired 85% of Surge Class A
  Common Stock in exchange for 10,186,323 newly issued shares of Common Stock
  of the Company from the Surge Shareholders. The Acquirer also acquired from
  other shareholders, (Other Shareholders), the remaining 15% of Surge
  Class A Common Stock in exchange for 825,930 newly issued shares of Common Stock
  of the Company, 100% of the Class B Surge Common Stock in exchange for 807,745
  newly issued shares of Common Stock of the Company, 100% of the Class E Common
  Stock in exchange for 180,000 newly issued shares of Common Stock of the Company,
  collectively the Surge Shareholders and Other Shareholders representing 100%
  of the issued and outstanding shares of Surge.

Item 3. Defaults Upon Senior Securities

None.

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

None.

Item 5. Other Information

| | 1. | In early August, 2002 a transaction was completed
        whereby majority control of the Company was transferred to an investor
        group headed by Peter Sanders and Bijay Singh. The former directors and
        officers resigned, although former Chairman and President Jaak Olesk,
        a lawyer, remained affiliated
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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|                                                                           |    | with the Company as its
        General Counsel. Mr. Sanders is the Company's new President and Chairman
        of the Board of Directors and Mr. Singh is Secretary/ Treasurer and a
        Director. Both Mr. Sanders' and Mr. Singh's business address is the Randall
        Building, Suite 300, 555 West Georgia Street, Vancouver, B.C. Canada V6B
        1Z6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|-------------------------------------------------------------------------- | -- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                           |   
|                                                                           | 2. | On September 3, 2002, Boundless
        Vision Incorporated, (the Company), through its wholly-owned
        subsidiary Surge Acquisition Corp., (Acquirer), a Nevada Company,
        entered into a Merger Agreement, (the Merger Agreement), with
        Surge Technologies Inc., (Surge), Gordon McPhedran (McPhedran),
        Jack Barbier (Barbier), Dale Olmstead (Olmstead),
        Harj Manhas (Manhas) and Secura Investments Inc. (Secura),
        (Mcphedran, Barbier, Olmstead, Manhas, and Secura are collectively
        referred to as the Surge Shareholders). Pursuant to the Merger
        Agreement the Acquirer acquired 85% of Surge Class A Common Stock in exchange
        for 10,186,323 newly issued shares of Common Stock of the Company from
        the Surge Shareholders. The Acquirer also acquired from other shareholders,
        (Other Shareholders), the remaining 15% of Surge Class A Common
        Stock in exchange for 825,930 newly issued shares of Common Stock of the
        Company, 100% of the Class B Surge Common Stock in exchange for 807,745
        newly issued shares of Common Stock of the Company, 100% of the Class
        E Common Stock in exchange for 180,000 newly issued shares of Common Stock
        of the Company, collectively the Surge Shareholders and Other Shareholders
        representing 100% of the issued and outstanding shares of Surge. The Merger
        Agreement was consummated on September 3rd, 2002.
      In addition upon consummation of the Merger Agreement,
        the board agreed to increase its board of directors from 2 to 5 and appoint
        Gordon McPhedran, Dale Olmstead, and Harj Manhas to the board of directors
        of the Company. The Companys current members of the Board of Directors,
        Peter Sanders and Bijay Singh, will remain as directors.
      As a result of the Merger Agreement the Company acquired
        all of the outstanding capital stock of Surge. Surge was founded on December
        3, 1998 under the name of Barmac & Associates, (Barmac),
        to take advantage of the unprecedented growth in the telecommunications
        industry. On March 30th, 2001 Barmac Amalgamated with Surge
        through a share exchange and the surviving entity changed its name to
        Surge Technologies Inc.
      Surge is an integrated company that researches, designs,
        manufactures, markets and distributes a number of generic and special
        application electrical surge protection devices. The primary product focus
        is electrical surge limiting terminals that combine easy field line installation
        with protection from transient voltage, lightning, induction or electronic
        discharge. The Companys ability to quickly research, design, and
        produce specialty products, has allowed Surge to develop a market niche
        supplying custom built products to prominent telecommunication companies
        in both Canada and the US.
|                                                                           |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|                                                                           |    | 1.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                           |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|This information was subsequently filed via Form
      8-K by the company.

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|Item 6. Exhibits and Report on Form 8-K
|---------------------------------------
|                                       
|1.                                     
|                                       
|2.                                     
|                                       
|3.                                     
|                                       
|4.                                     
|                                       
|5.                                     
|                                       
|6.                                     
|                                       
|7.                                     

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SIGNATURES

In accordance with the requirements of the Exchange Act, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

|                            | Boundless Vision Incorporated   
|--------------------------- | --------------------------------
|                            |                                 
|                            | /s/ Gordon McPhedran            
|Dated: March 13, 2003       | ---------------------------     
|--------------------------- | Gordon McPhedran                
|                            | Chairman of the Board, President

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SECTION 302 CERTIFICATION

|I, Gordon McPhedran, certify that:
|----------------------------------
|                                  
|1.                                
|                                  
|2.                                
|                                  
|3.                                
|                                  
|4.                                
|                                  
|5.                                
|                                  
|6.                                

|By: /s/ Gordon McPhedran                  | Date: March 13, 2003
|----------------------------------------- | --------------------
|Gordon McPhedran, Chief Executive Officer |                     

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SECTION 302 CERTIFICATION

|I, Thom Eggerston, certify that:
|--------------------------------
|                                
|1.                              
|                                
|2.                              
|                                
|3.                              
|                                
|4.                              
|                                
|5.                              
|                                
|6.                              

|By: /s/ Thom Eggerston                  | Date: March 13, 2003
|--------------------------------------- | --------------------
|Thom Eggerston, Chief Financial Officer |                     

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