UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                       AMENDMENT NO. 1 TO THE FORM 10-QSB
                                   (Mark One)

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

               For the quarterly period ended September 30, 2003
               -------------------------------------------------

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

                           IVP TECHNOLOGY CORPORATION
        (Exact name of small business issuer as specified in its charter)

            Nevada                                   65-6998896
            ------                                   ----------
(State or other jurisdiction of          (IRS Employer Identification No.)
 incorporation or organization)


      2275 Lakeshore Blvd West, Suite 401, Toronto, Ontario M8V 3Y3 Canada
                   (Address of principal executive offices)

                                (416) 252-6200
                          (Issuer's telephone number)

              (Former name, former address and former fiscal year,
                          if changed since last report)

                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 l2, 13 or 15(d) of the Exchange Act after the distribution of
          securities under a plan confirmed by a court. Yes [ ]  No [ ]

                      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:  278,707,703 shares of common
         stock, $.001 par value, were outstanding on September 30, 2003

   Transitional Small Business Disclosure Format (Check one): Yes [ ] No [x]

<PAGE>

PART I - FINANCIAL INFORMATION
         ITEM 1.  Consolidated Financial Statements

                  Condensed Consolidated Balance Sheets as of September 30, 2003
                   (Unaudited) and December 31, 2002

                  Condensed Consolidated Statement of Operations for the Nine
                   months and Nine Months Ended September 30, 2003 and
                   September 30, 2002, (Unaudited)

                  Condensed Consolidated Statements of Stockholders' Deficiency
                   for the Nine Months ended September 30, 2003 (Unaudited)

                  Condensed Consolidated Statements Of Cash Flows For The Nine
                   Months Ended September 30, 2003 And 2002 (Unaudited)

                  Notes To Condensed Consolidated Financial Statements As Of
                   September 30, 2003 (Unaudited)

         ITEM 2.  Management's Discussion and Analysis of Financial Condition
                   and Results of Operations

         ITEM 3.  Control and Procedures

PART II- OTHER INFORMATION

         ITEM 1.  Legal Matters

         ITEM 2.  Changes in Securities

         ITEM 3.  Defaults Upon Senior Securities

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

         ITEM 5.  Other information

         ITEM 6.  Subsequent Events, Exhibits and Reports on Form 8-K


                                       2
<PAGE>

                           IVP TECHNOLOGY CORPORATION
                                AND SUBSIDIARIES
                             CONDENSED CONSOLIDATED
                              FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2003


                                       3
<PAGE>

                   IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES


                                    CONTENTS
                                    --------
<TABLE>
<S>                <C>         <C>
PAGE                 1         CONDENSED  CONSOLIDATED  BALANCE SHEETS AS OF  SEPTEMBER 30,  2003  (UNAUDITED)  AND
                               DECEMBER 31, 2002

PAGE                 2         CONDENSED CONSOLIDATED  STATEMENTS OF OPERATIONS FOR THE THREE AND NINE MONTHS ENDED
                               SEPTEMBER 30, 2003 AND 2002 (UNAUDITED)

PAGE                 3         CONDENSED  CONSOLIDATED  STATEMENT OF  STOCKHOLDERS'  DEFICIENCY FOR THE NINE MONTHS
                               ENDED SEPTEMBER 30, 2003 (UNAUDITED)

PAGES              4 - 5       CONDENSED CONSOLIDATED  STATEMENTS OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER
                               30, 2003 AND 2002 (UNAUDITED)

PAGES              6 - 22      NOTES TO  CONDENSED  CONSOLIDATED  FINANCIAL  STATEMENTS  AS OF  SEPTEMBER  30, 2003
                               (UNAUDITED)

                                                                  4
</TABLE>


<PAGE>


                   IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEETS

<TABLE>
                                                            ASSETS
                                                            ------
<CAPTION>
                                                                                September 30, 2003     December 31,
                                                                                    (Unaudited)            2002
                                                                                -----------------      -------------
<S>                                                                            <C>                    <C>
Current assets
 Cash                                                                          $         65,066       $     63,162
 Accounts receivable, less allowance for doubtful accounts of $43,970
  as of September 30, 2003 and December 31, 2002                                         66,779             17,165
 Prepaid expenses and other current assets                                              171,723             34,610
                                                                                -----------------      -------------
     Total Current Assets                                                               303,568            114,937
                                                                                -----------------      -------------
PROPERTY AND EQUIPMENT
 Property and equipment                                                                 227,177            173,246
 Accumulated depreciation                                                              (131,460)           (79,688)
                                                                                -----------------      -------------
     Property and Equipment, Net                                                         95,717             93,558
                                                                                -----------------      -------------

OTHER ASSETS
 License agreements - software, net of accumulated amortization of
  $624,411 and $356,806 as of September 30, 2003 and December 31, 2002,
  respectively                                                                          204,906            356,806
 Intangible asset - customer list                                                       275,000               -
 Investment at cost                                                                     250,000               -
 Deferred consulting expense                                                            196,850             71,816
 Goodwill                                                                               100,000               -
                                                                                -----------------      -------------
     Total Other Assets                                                               1,026,756            428,622
                                                                                -----------------      -------------

TOTAL ASSETS                                                                   $      1,426,041       $    637,117
------------                                                                    =================      =============


                                         LIABILITIES AND STOCKHOLDERS' DEFICIENCY
                                         ----------------------------------------
CURRENT LIABILITIES
 Accounts payable                                                              $        681,763       $    657,402
 Accrued liabilities                                                                     80,775            169,679
 Taxes payable                                                                          187,527             32,150
 Accrued interest                                                                        58,110             14,974
 Leases payable, current portion                                                         22,013               -
 Net liabilities of discontinued operations                                                -             1,417,619
 Note payable, current portion                                                          542,886            104,020
 Common stock to be issued                                                               18,000          3,617,746
 Convertible preferred stock to be issued, short-term                                      -             4,779,662
 Due to related parties                                                                  97,637            369,226
 Other current liabilities                                                                2,683            134,088
                                                                                -----------------      -------------
     Total Current Liabilities                                                        1,691,394         11,296,566
                                                                                -----------------      -------------
CONTINGENCIES AND COMMITMENTS

LONG-TERM LIABILITIES
 Note payable, long-term portion                                                        500,000               -
 Convertible debentures                                                                    -               150,000
 Lease payable, long-term                                                                 8,603             25,570
 Convertible preferred stock to be issued, long-term                                       -             3,584,747
                                                                                -----------------      -------------
     Total Long-Term Liabilities                                                        508,603          3,760,317
                                                                                -----------------      -------------

TOTAL LIABILITIES                                                                     2,199,997         15,056,883
-----------------                                                               -----------------      -------------

STOCKHOLDERS' DEFICIENCY
 Preferred stock, $0.001 par value, 50,000,000 shares authorized, none
  issued and outstanding                                                                   -                  -
 Common stock, $0.001 par value, 500,000,000 and 150,000,000 shares
  authorized, 278,707,703 and 99,449,261 shares issued and 267,707,703
  and 99,449,261 shares outstanding as of September 30, 2003 and
  December 31, 2002, respectively                                                       278,708             99,449
 Additional paid-in capital                                                          36,166,766         20,870,864
 Accumulated deficit                                                                (36,185,595)       (35,248,562)
 Less: treasury stock (11,000,000 shares)                                              (770,000)              -
 Other comprehensive (loss) income - exchange gain                                     (111,297)            80,795
 Less: deferred equity line commitment fees                                             (91,062)          (222,312)
 Less: deferred compensation                                                            (61,476)              -
                                                                                -----------------      -------------
     Total Stockholders' Deficiency                                                    (773,956)       (14,419,766)
                                                                                -----------------      -------------

TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY                                 $      1,426,041       $    637,117
----------------------------------------------                                  =================      =============


                              See accompanying notes to condensed consolidated financial statements.

                                                                  5
</TABLE>
<PAGE>

<TABLE>
                                             IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
                                           CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                           -----------------------------------------------
                                                             (UNAUDITED)

<CAPTION>
                                                        For The Three      For The Three      For The Nine       For The Nine
                                                         Months Ended       Months Ended      Months Ended       Months Ended
                                                        September 30,      September 30,        September          September
                                                             2003               2002            30, 2003           30, 2002
                                                        --------------     ---------------    --------------     --------------

<S>                                                    <C>                <C>                <C>                <C>
NET SALES                                              $      124,767     $      167,070     $     355,776      $      257,070
                                                        --------------     --------------     -------------      --------------

COST OF SALES
 Product costs                                                 20,962             24,059           121,893              24,059
 Development costs                                               -                  -                 -                  1,030
 Distribution and other costs including
   amortization of license                                     92,983            298,674           279,172           1,203,972
                                                        --------------     --------------     -------------      --------------
     Total Cost of Sales                                      113,945            322,733           401,065           1,229,061
                                                        --------------     --------------     -------------      --------------

GROSS PROFIT (LOSS)                                            10,822           (155,663)          (45,289)           (971,991)
                                                        --------------     --------------     -------------      --------------

OPERATING EXPENSES
 Salaries and wages                                           270,095             54,124           506,069             54,124
 Stock-based compensation                                      37,500          3,800,000           618,080          3,800,000
 Consulting fees                                              119,044            102,835           212,974            452,815
 Legal and accounting                                          60,335             40,192           214,209            252,166
 Management fees                                               44,346             23,301           120,688             81,107
 General and administrative                                   170,540           (170,872)          562,907            153,889
 Financial advisory fees                                        9,098               -               39,914            150,000
 Amortization and depreciation                                  9,656            107,921            28,378            271,671
                                                        --------------     --------------     -------------      --------------
      Total Operating Expenses                                720,614          3,957,501         2,303,219           5,215,772
                                                        --------------     --------------     -------------      --------------

LOSS FROM OPERATIONS                                         (709,792)        (4,113,164)       (2,348,508)         (6,187,763)
                                                        --------------     --------------     -------------      --------------

OTHER INCOME (EXPENSE)
 Gain on early extinguishment of debt                            -               924,904              -              1,021,238
 Interest income                                                 -                 5,084             6,497               5,126
 Interest expense                                             (88,673)           (11,432)         (315,803)            (77,577)
 Foreign exchange gain                                         43,821               -               57,895                -
                                                        --------------     --------------     -------------      --------------
      Total Other Income (Expense)                            (44,852)           918,556          (251,411)            948,787
                                                        --------------     --------------     -------------      --------------

LOSS FROM CONTINUING OPERATIONS                              (754,644)        (3,194,608)       (2,599,919)         (5,238,976)

DISCONTINUED OPERATIONS:
 Loss from discontinued operations                               -              (915,876)         (733,123)         (1,127,835)
 Gain on sale of discontinued operations                         -                  -            2,396,009                -
                                                        --------------     --------------     -------------      --------------
      (Loss) Gain from Discontinued Operations, Net              -              (915,876)        1,662,886          (1,127,835)
                                                        --------------     --------------     -------------      --------------

NET (LOSS)                                             $     (754,644)    $   (4,110,484)    $    (937,033)     $   (6,366,811)
----------                                             ===============    ===============    ==============      ==============

LOSS PER COMMON SHARE FROM CONTINUING OPERATIONS -
 BASIC AND DILUTED                                     $        (0.00)    $        (0.03)    $       (0.02)     $       (0.06)
                                                        ==============     ==============     =============      ==============

GAIN (LOSS) PER COMMON SHARE FROM DISCONTINUED
 OPERATIONS - BASIC                                    $          0.00    $        (0.01)    $         0.01   $         (0.01)
                                                        ==============     ==============     =============      ==============

NET LOSS PER COMMON SHARE - BASIC AND DILUTED          $        (0.00)    $        (0.03)    $       (0.01)   $         (0.07)
                                                        ==============     ==============     =============      ==============

WEIGHTED AVERAGE NUMBER OF COMMON SHARES
 OUTSTANDING - BASIC AND DILUTED                          262,456,836        118,299,435       159,960,377          95,218,392
                                                        ==============     ==============     =============      ==============

                              See accompanying notes to condensed consolidated financial statements.

                                                                 6
</TABLE>

<PAGE>

<TABLE>
                     IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
             CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIENCY
                     FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2003
                     --------------------------------------------
                                     (UNAUDITED)

<CAPTION>
                                                                                   Additional
                                    Preferred Stock            Common Stock         Paid-In         Accumulated
                                   Shares      Amount       Shares      Amount      Capital           Deficit
                                 ----------   -------    -----------   ---------  ------------    -------------

<S>                              <C>          <C>        <C>           <C>        <C>             <C>
Balance, December 31, 2002           -        $  -        99,449,261   $  99,449  $ 20,870,864    $(35,248,562)

Stock issued for
 services and settlements            -           -        82,985,949      82,986     2,074,030           -

Stock issued for cash                -           -        29,000,001      29,001       869,088           -

Stock issued to former
 shareholders of
 Ignition Entertainment, Ltd.    3,500,000     3,500      15,000,000      15,000    11,930,656           -

Conversion of preferred
 stock to common stock          (3,500,000)   (3,500)     35,000,000      35,000       (31,500)          -

Stock to be received
 from the sale of
 Ignition
 Entertainment, Ltd.                 -           -             -            -            -              -

Stock issued for asset
 acquisitions                        -           -         7,272,492       7,272       213,628          -

Stock issued for
 investment                          -           -        10,000,000      10,000       240,000          -

Deferred cost recognized             -           -             -            -            -              -

Net loss for the period              -           -             -            -            -            (937,033)

Cumulative translation
 adjustment                          -           -             -            -            -              -

Comprehensive loss                   -           -             -            -            -              -
                                 ----------   --------   -----------   ---------  ------------    -------------
BALANCE,
 SEPTEMBER 30, 2003                  -        $  -       278,707,703   $ 278,708  $ 36,166,766    $(36,185,595)
 ------------------              ==========   ========   ===========   =========  ============    =============


           See accompanying notes to condensed consolidated financial statements.

                                                                 7

</TABLE>

<PAGE>
                     IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
             CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIENCY
                     FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2003
                     --------------------------------------------
                                     (UNAUDITED)

<TABLE>
<CAPTION>
                                                   Deferred       Deferred
                                                 Compensation    Equity Line       Other
                                  Treasury       & Licensing     Commitment     Comprehensive
                                    Stock           Fees            Fees        Income (Loss)       Total
                                 ------------    -----------     ------------   --------------  -------------
<S>                              <C>             <C>             <C>            <C>             <C>
Balance, December 31, 2002       $     -         $    -          $  (222,312)   $     80,795    $(14,419,766)

Stock issued for
 services and settlements              -            (61,476)          -                 -          2,095,540

Stock issued for cash                  -              -               -                 -            898,089

Stock issued to former
 shareholders of
 Ignition Entertainment, Ltd.          -              -               -                 -         11,949,156

Conversion of preferred
 stock to common stock                 -              -               -                 -               -

Stock to be received
 from the sale of
 Ignition
 Entertainment, Ltd.                (770,000)         -               -                 -           (770,000)

Stock issued for asset
 acquisitions                          -              -               -                 -            220,900

Stock issued for
 investment                            -              -               -                 -            250,000

Deferred cost recognized               -              -              131,250            -           131,250

Net loss for the period                -              -               -                 -           (937,033)

Cumulative translation
 adjustment                            -              -               -             (192,092)       (192,092)
                                                                                                -------------

Comprehensive loss                     -              -               -                 -         (1,129,125)
                                 ------------    -----------     ------------   -------------   -------------
BALANCE,
 SEPTEMBER 30, 2003              $  (770,000)    $  (61,476)     $   (91,062)   $   (111,297)   $   (773,956)
 ------------------              ============    ===========     ===========    =============   =============


        See accompanying notes to condensed consolidated financial statements.

                                                                  8
</TABLE>

<PAGE>
<TABLE>

                                             IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
                                           CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                           -----------------------------------------------
                                                             (UNAUDITED)
<CAPTION>

                                                                                For The Nine Months Ended    For The Nine Months
                                                                                   September 30, 2003      Ended September 30, 2002
                                                                                -------------------------  ------------------------
<S>                                                                             <C>                        <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
 Net loss                                                                          $         (937,033)       $      (6,366,811)
 Adjustments to reconcile net loss to net cash used in operating activities:
  Gain on sale of discontinued operations                                                  (2,396,009)                    -
  Amortization and depreciation                                                                39,721                  276,712
  Amortization of licensing agreements                                                        267,603                1,172,672
  Amortization of consulting agreements and commitment fees                                   256,874                  267,500
  Interest expense on beneficial conversion                                                      -                      64,286
  Gain on early extinguishment of debt                                                           -                  (1,021,238)
  Decrease in deferred tax asset                                                               71,816                     -
  Stock issued for commitment fees and penalties                                               22,800                     -
  Stock issued for compensation                                                               553,501                3,800,000
  Stock issued for financing costs                                                            129,500                     -
  Stock issued for services                                                                    62,500                  567,781
 Changes in operating assets and liabilities, net of effects of discontinued
 operations:
  (Increase) decrease in accounts receivable                                                 (112,679)                 167,324
  Decrease (increase) in inventory                                                            304,783                   54,453
  (Increase) decrease in prepaid expenses and other current assets                           (150,669)                  14,611
  Increase in other assets                                                                       -                     (94,071)
  Decrease in accounts payable                                                                (53,318)                (281,519)
  Decrease in accrued liabilities                                                            (172,929)                    -
  Increase in taxes payable                                                                   203,370                   73,909
  (Decrease) increase in other current liabilities                                            (69,603)                 283,258
  Increase (decrease) in accrued interest                                                      43,136                  (23,357)
  Net effect of discontinued operations                                                       213,924                     -
                                                                                -------------------------  ------------------------
         Net Cash Used In Operating Activities                                             (1,722,712)              (1,044,490)
                                                                                -------------------------  ------------------------

CASH FLOWS FROM INVESTING ACTIVITIES:
 Cash received from acquisition                                                                  -                   1,132,039
 Cash Paid for acquisition                                                                       -                    (367,217)
 Cash paid from sale of discontinued operations                                                  (160)
 Cash paid for licensing agreement                                                               -                    (713,612)
 Purchase of software rights                                                                  (94,803)
 Purchases of fixed assets                                                                     (9,126)                (402,870)
                                                                                -------------------------  ------------------------
         Net Cash Used In Investing Activities                                               (104,089)                (351,660)
                                                                                -------------------------  ------------------------

CASH FLOWS FROM FINANCING ACTIVITIES:
 Cash overdraft                                                                                  -                      11,035
 Repayment of notes payable                                                                (1,036,134)                    -
 Proceeds from notes payable                                                                1,674,146                1,300,339
 Proceeds from related parties                                                                299,878                     -
 Proceeds from factors                                                                        116,503                   61,929
 Proceeds from issuance of common stock                                                       898,088                    7,501
 Payment on leases                                                                            (25,474)                    -
                                                                                -------------------------  ------------------------
         Net Cash Provided By Financing Activities                                          1,927,007                1,380,804
                                                                                -------------------------  ------------------------

EFFECT OF FOREIGN EXCHANGE RATES                                                              (98,302)                  15,114
                                                                                -------------------------  ------------------------

NET DECREASE IN CASH FOR THE PERIOD                                                             1,904                     (232)

CASH - BEGINNING OF PERIOD                                                                     63,162                      232
                                                                                -------------------------  ------------------------

CASH - END OF PERIOD                                                               $           65,066        $            -
--------------------                                                            =========================  ========================

                               See accompanying notes to condensed consolidated financial statements.

                                                                 9
</TABLE>
<PAGE>


<TABLE>
<CAPTION>
                                             IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
                                           CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                           -----------------------------------------------
                                                             (UNAUDITED)


                                                                       For The Nine Months Ended       For The Nine Months Ended
                                                                           September 30, 2003             September 30, 2002
                                                                       ---------------------------    ----------------------------
<S>                                                                 <C>                             <C>
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:

Cash paid for interest                                              $                     47,182    $                       -
                                                                       ===========================    ============================

SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND
  FINANCING ACTIVITIES:

Equipment purchased under capital leases                            $                     17,193    $                       -
                                                                       ===========================    ============================
Acquisition of Ignition Entertainment Ltd.                          $                       -       $                  1,132,039
                                                                       ===========================    ============================
Acquisition of Springboard Technology Solutions Inc.                $                       -       $                        260
                                                                       ===========================    ============================
Common and preferred stock issued to satisfy common and
preferred stock to be issued for the acquisition of Ignition        $                 11,949,156    $                       -
                                                                       ===========================    ============================
Common stock issued to acquire other income producing assets        $                    220,900    $                       -
                                                                       ===========================    ============================
Common stock issued for deferred consulting expenses                $                    383,950    $                       -
                                                                       ===========================    ============================
Common stock issued for payment of accrued bonuses                  $                     60,450    $                       -
                                                                       ===========================    ============================
Common stock issued for payment of commitment fees                  $                       -       $                    350,000
                                                                       ===========================    ============================
Common stock issued for payment of debt and accrued
  interest thereon                                                  $                    944,329    $                    983,773
                                                                       ===========================    ============================
Common stock issued for payment of amounts due to related parties   $                    929,316    $                       -
                                                                       ===========================    ============================
Common stock issued for payment of common stock to be issued
 for services                                                       $                     65,000    $                     50,000
                                                                       ===========================    ============================
Common stock issued for investment                                  $                    250,000    $                       -
                                                                       ===========================    ============================

                               See accompanying notes to condensed consolidated financial statements.

                                                                 10
</TABLE>
<PAGE>

                   IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2003
                            ------------------------
                                   (UNAUDITED)


NOTE 1   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION
------   -----------------------------------------------------------

         (A) Organization
         ----------------

          The consolidated  financial  statements of IVP Technology  Corporation
          d.b.a.  ActiveCore  Technologies,  Inc. (formerly Mountain Chef, Inc.)
          and consolidated  subsidiaries (the "Company") include the accounts of
          the parent, IVP Technology  Corporation,  incorporated in the State of
          Nevada on February 11, 1994, d.b.a. ActiveCore Technologies, Inc., and
          its subsidiaries:  ActiveCore  Technologies Ltd. (formerly Springboard
          Technology   Solutions   Inc.),   a  Canadian   company;   and  Erebus
          Corporation,   an  inactive  company.   The  Company  was  granted  an
          extra-provincial  license by the  Province of Ontario on June 20, 1995
          to carry on business in Ontario,  Canada.  Prior to 1998,  the Company
          was involved with various unsuccessful activities relating to the sale
          of technology  products before  becoming  inactive by the end of 1997.
          The Company began negotiations with a third party in 1998 to become an
          exclusive  distributor of software and therefore is considered to have
          re-entered the development  stage on January 1, 1998.  Activities from
          inception  of   development   stage  included   raising   capital  and
          negotiations  and acquisition of software  distribution  licenses.  On
          January 1, 2002,  the Company  began  operations  and emerged from the
          development stage.

          The Company operates in two market segments,  enterprise and consumer.
          The enterprise  component develops,  markets,  licenses,  installs and
          services  data  solutions.  The  consumer  market  group  develops and
          publishes interactive software games designed for mobile phones, other
          handheld  devices,  and web-sites.  The consumer unit also distributes
          games  developed by third  parties.  In 2002 the Company also produced
          video  games  for  personal   computers  and  various  console  gaming
          platforms. (see Note 2 - Discontinued Operations)

          (B) Basis of Presentation
          -------------------------

          The condensed  consolidated  financial statements included herein have
          been prepared by the Company without audit,  pursuant to the rules and
          regulations  of  the  Securities  and  Exchange  Commission.   Certain
          information and footnote  disclosures  normally  included in financial
          statements prepared in accordance with accounting principles generally
          accepted  in the  United  States of  America  have been  condensed  or
          omitted as allowed by such rules and regulations. The Company believes
          that the disclosures  are adequate to make the  information  presented
          not misleading.  The condensed  consolidated balance sheet information
          as of  December  31, 2002 was  derived  from the audited  consolidated
          balance sheet included in the Company's Annual Report Form 10-KSB.  It
          is suggested that these condensed consolidated financial statements be
          read in  conjunction  with the December 31, 2002 audited  consolidated
          financial  statements and the  accompanying  notes thereto included in
          the Company's Annual Report Form 10-KSB. While management believes the
          procedures   followed  in  preparing  these   condensed   consolidated
          financial  statements are reasonable,  the accuracy of the amounts are
          in some  respects  dependent  upon the  facts  that  will  exist,  and
          procedures that will be accomplished by the Company later in the year.

          The management of the Company believes that the accompanying unaudited
          condensed  consolidated  financial  statements contain all adjustments
          (including normal recurring  adjustments)  necessary to present fairly
          the  operations  and  cash  flows  for  the  periods  presented.   The
          consolidated results of operations for the three and nine months ended
          September  30,  2003 and 2002 are not  necessarily  indicative  of the
          results to be expected for the full year.  All material  inter-company
          accounts have been eliminated in consolidation.

          (C) Going Concern
          -----------------

          The accompanying condensed consolidated financial statements have been
          prepared in conformity with accounting  principles  generally accepted
          in the United States of America,  which  contemplates  continuation of
          the  Company  as a  going  concern.  The  Company  has a net  loss  of
          $937,033,  and a negative cash flow from  operations of $1,722,712 for
          the nine months  ended  September  30,  2003.  The Company  also has a
          working   capital   deficiency  of  $1,387,826  and  a   stockholders'
          deficiency  of $773,956 at September  30, 2003.  These  matters  raise
          substantial  doubt about the Company's  ability to continue as a going
          concern.  Management's  plan  is  to  continue  to  attempt  to  raise
          additional  debt or equity capital until such time the Company is able
          to generate sufficient operating revenue.

          In view of these matters,  realization of certain of the assets in the
          accompanying  condensed consolidated financial statements is dependent
          upon continued  operations of the Company,  which in turn is dependent
          upon the Company's ability to meet its financial  requirements,  raise
          additional  capital,   and  the  success  of  its  future  operations.
          Management  believes  that its  ability  to raise  additional  capital
          provides  the  opportunity  for the  Company  to  continue  as a going
          concern.

          (D) Reclassifications
          ---------------------

          Certain  reclassifications  have been made to the previously  reported
          amounts to conform to the Company's current period presentation.

          (E) Use of Estimates
          --------------------

          The  preparation  of condensed  consolidated  financial  statements in
          conformity with accounting principles generally accepted in the United
          States  of  America   requires   management  to  make   estimates  and
          assumptions that affect the reported amounts of assets and liabilities
          and the disclosure of contingent  assets and  liabilities at the dates
          of the condensed  consolidated  financial  statements and the reported
          amounts of revenues and expenses  during the  reporting  periods.  The
          most   significant   estimates   and   assumptions   relate   to   the

                                       11
<PAGE>
                   IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2003
                            ------------------------
                                   (UNAUDITED)


          recoverability  of  prepaid   royalties  and  licencing,   capitalized
          software  development  costs and other intangibles and the adequacy of
          allowances for returns,  and doubtful  accounts.  Actual amounts could
          differ significantly from these estimates.

          (F) Fair Value of Financial Instruments
          ---------------------------------------

          The carrying amounts of the Company's financial instruments, including
          cash, accounts receivable,  accounts payable,  accrued liabilities and
          other  laibilties  approximate  fair  value  because  of  their  short
          maturities.  The  carrying  amounts of the  Company's  loans and notes
          payable and capital lease  obligations  approximate  the fair value of
          such  instruments  based upon  management's  best estimate of interest
          rates  that  would  be  available  to the  Company  for  similar  debt
          obligations.

          For  purposes  of this  disclosure,  the  fair  value  of a  financial
          instrument is the amount at which the instrument could be exchanged in
          a current  transaction  between willing parties other than in a forced
          sale or liquidation.

          (G) Earnings (Loss) Per Share
          -----------------------------

          Basic and  diluted  earnings  (loss) per common  share is based on net
          loss divided by the weighted average number of common shares or common
          equivalent  shares  outstanding.  For the three and nine months  ended
          September 30, 2002,  common stock equivalents were not included in the
          calculation  of  diluted  loss  per  share as  their  effect  would be
          anti-dilutive.

          (H) Recent Accounting Pronouncements
          ------------------------------------

          In November  2002, the Emerging  Issues Task Force ("EITF")  reached a
          consensus on Issue 00-21,  addressing how to account for  arrangements
          that  involve  the  delivery  or  performance  of  multiple  products,
          services,  and /or rights to use  assets.  Revenue  arrangements  with
          multiple deliverables are divided into separate units of accounting if
          the deliverables in the arrangement meet the following  criteria:  (1)
          the delivered  item has value to the customer on a stand-alone  basis;
          (2) there is  objective  and  reliable  evidence  of the fair value of
          undelivered  items;  and (3)  delivery  of any  undelivered  items  is
          probable.  Arrangement  consideration  should be  allocated  among the
          separate units of accounting based on their relative fair values, with
          the amount allocated to the delivered item being limited to the amount
          that is not contingent on the delivery of additional  items or meeting
          other specified  performance  conditions.  The final consensus will be
          applicable  to  agreements  entered into in fiscal  periods  beginning
          after June 15, 2003 with early adoption permitted.

                                       12
<PAGE>
                   IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2003
                            ------------------------
                                   (UNAUDITED)


          In April 2003,  the  Financial  Accounting  Standards  Board  ("FASB")
          issued Statement of Financial  Accounting  Standards ("SFAS") No. 149,
          "Amendment  of Statement  133 on  Derivative  Instruments  and Hedging
          Activities".  SFAS No. 149 amends and clarifies  financial  accounting
          and reporting for derivative instruments, including certain derivative
          instruments embedded in other contracts  (collectively  referred to as
          derivatives)   and  for  hedging   activities   under  SFAS  No.  133,
          "Accounting for Derivative  Instruments and Hedging  Activities".  The
          changes in SFAS No. 149 improve financial  reporting by requiring that
          contracts with comparable  characteristics be accounted for similarly.
          This  statement is effective  for  contracts  entered into or modified
          after  June  30,  2003 and all of its  provisions  should  be  applied
          prospectively.

          In May 2003,  the FASB issued SFAS No.  150,  "Accounting  For Certain
          Financial  Instruments  with  Characteristics  of both Liabilities and
          Equity".  SFAS No. 150 changes the  accounting  for certain  financial
          instruments with  characteristics of both liabilities and equity that,
          under  previous  pronouncements,  issuers could account for as equity.
          The new  accounting  guidance  contained in SFAS No. 150 requires that
          those instruments be classified as liabilities in the balance sheet.

          SFAS No.  150  affects  the  issuer's  accounting  for three  types of
          freestanding financial instruments. One type is mandatorily redeemable
          shares, which the issuing company is obligated to buy back in exchange
          for cash or other  assets.  A second  type  includes  put  options and
          forward purchase contracts,  which involves instruments that do or may
          require the issuer to buy back some of its shares in exchange for cash
          or other assets.  The third type of instruments  that are  liabilities
          under this Statement is  obligations  that can be settled with shares,
          the monetary value of which is fixed,  tied solely or predominantly to
          a variable such as a market index, or varies  inversely with the value
          of the  issuers'  shares.  SFAS No.  150 does  not  apply to  features
          embedded in a financial  instrument  that is not a  derivative  in its
          entirety.

          Most of the  provisions  of  Statement  150 are  consistent  with  the
          existing  definition of liabilities in FASB Concepts  Statement No. 6,
          "Elements of Financial  Statements".  The remaining provisions of this
          Statement  are  consistent  with the FASB's  proposal  to revise  that
          definition to encompass  certain  obligations  that a reporting entity
          can or must settle by issuing its own shares.  This Statement shall be
          effective for financial instruments entered into or modified after May
          31, 2003 and  otherwise  shall be  effective  at the  beginning of the
          first  interim  period  beginning  after  June 15,  2003,  except  for
          mandatorily  redeemable financial  instruments of a non-public entity,
          as to which the effective date is for fiscal periods  beginning  after
          December 15, 2003.

                                       13
<PAGE>

                   IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2003
                            ------------------------
                                   (UNAUDITED)


          In January 2003, The FASB issued Interpretation No. 46, "Consolidation
          of  Variable  Interest  Entities",  an  interpretation  of  Accounting
          Research Bulletin ("ARB") No. 51, "Consolidated Financial Statements".
          Interpretation No. 46 addresses  consolidation by business enterprises
          of variable interest entities, which have one or both of the following
          characteristics:  (i) the equity  investment at risk is not sufficient
          to permit the  entity to finance  its  activities  without  additional
          subordinated  support from other  parties,  which is provided  through
          other interest that will absorb some or all of the expected  losses of
          the  entity;  (ii)  the  equity  investors  lack  one or  more  of the
          following  essential   characteristics  of  a  controlling   financial
          interest:  the direct or indirect  ability to make decisions about the
          entities  activities  through voting rights or similar rights;  or the
          obligation to absorb the expected  losses of the entity if they occur,
          which makes it possible for the entity to finance its activities;  the
          right to receive the expected  residual  returns of the entity if they
          occur,  which  is the  compensation  for  the  risk of  absorbing  the
          expected losses.

          Interpretation  No.  46  also  requires  expanded  disclosures  by the
          primary  beneficiary (as defined) of a variable interest entity and by
          an enterprise that holds a significant variable interest in a variable
          interest entity but is not the primary beneficiary. Interpretation No.
          46 applies  immediately to variable  interest  entities  created after
          January  31,  2003,  and to  variable  interest  entities  in which an
          enterprise  obtains an  interest  after  that date.  It applies in the
          first fiscal year or interim period  beginning after June 15, 2003, to
          variable  interest  entities in which an  enterprise  holds a variable
          interest that it acquired before February 1, 2003.  Interpretation No.
          46 may be applied prospectively with a cumulative-effect adjustment as
          of the date on which it is first  applied or by  restating  previously
          issued   financial   statements   for  one  or  more   years   with  a
          cumulative-effect  adjustment  as of the  beginning  of the first year
          restated.

          In June 2003,  the FASB issued an  Exposure  Draft for  proposed  SFAS
          entitled  "Qualifying  Special Purpose Entities ("QSPE") and Isolation
          of  transferred  Assets",  an amendment of SFAS No. 140 ("The Exposure
          Draft").  The Exposure  Draft is a proposal  that is subject to change
          and as such, is not yet  authoritative.  If the proposal is enacted in
          its current  form,  it will amend and clarify  SFAS 140.  The Exposure
          Draft would  prohibit an entity from being a QSPE if it enters into an
          agreement  that  obliged  a  transferor  of  financial   assets,   its
          affiliates,  or its agents to deliver  additional cash or other assets
          to fulfill the  special-purposes  entity's  obligation  to  beneficial
          interest holders.

          The Company  believes  that the  adoption of the above  pronouncements
          will  not  have  a  material   effect  on  the   Company's   condensed
          consolidated financial position or results of operations.

                                       14
<PAGE>

                   IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2003
                            ------------------------
                                   (UNAUDITED)


NOTE 2    DISCONTINUED OPERATIONS
------    -----------------------

          Effective  April 1, 2003,  the Company sold 100% of the issued  shares
          and all assets and liabilities of Ignition Entertainment, Ltd. for the
          return of 11,000,000  shares of the Company's  common stock originally
          issued  to  and  held  by the  former  shareholders.  The  transaction
          resulted  in a gain of  $2,396,009,  which  has been  included  in the
          condensed consolidated statements of operations for the three and nine
          months ended  September  30, 2003,  as a gain on sale of  discontinued
          operations.

          Upon  execution of the sale agreement in June 2003, the Company issued
          50,000,000  shares of its common stock to the former  shareholders  of
          Ignition  Entertainment  Ltd. in accordance  with the original May 28,
          2002 purchase  agreement.  Based upon the terms of the sale agreement,
          the Company  converted all of the 3,500,000  shares of preferred stock
          to be issued,  into 35,000,000  shares of common stock and accelerated
          the issuance of  15,000,000  shares of common stock to be issued.  The
          issuance  of the  50,000,000  shares  of  common  stock  in June  2003
          relieved  the  Company's  obligation  as of  April 1,  2003,  to issue
          $11,949,156  in preferred  and common stock under the original May 28,
          2002 purchase  agreement.  The 50,000,000  shares were  delivered,  in
          trust,  to an  independent  third party upon the execution of the sale
          agreement and will be distributed  to the former  owners.  Immediately
          following  the  issuance  of the  50,000,000  shares of the  Company's
          common stock, the former shareholders will return 11,000,000 shares of
          common  stock to the  Company  as  proceeds  for the sale of  Ignition
          Entertainment Ltd. The 11,000,000 shares were valued at $770,000 based
          upon  the fair  market  value of the  stock  on  April  1,  2003,  the
          effective date of the sale agreement (See Note 9).

          In connection with the sale agreement,  the Company will retain rights
          to certain  intellectual  property and receive a source code licensing
          agreement for certain interactive software games developed by Ignition
          Entertainment Ltd. In addition to the source code licensing agreement,
          the Company will also receive a  distribution  agreement to distribute
          the  interactive  software games on a worldwide  basis for a period of
          three  years,  renewable  annually  thereafter.  The Company  will pay
          Ignition  Entertainment  Ltd.  a  royalty  fee of  30%  of  all  gross
          revenues,  less direct costs, from the sale, distribution or marketing
          of those game titles.  As of September  30, 2003,  the Company did not
          assign  any value to the  acquired  intellectual  property  due to the
          uncertainty of obtaining  financing to fund the conversion of acquired
          intellectual property into saleable products.

          Following is a summary of net liabilities and results of operations of
          Ignition  Entertainment Ltd. as of April 1, 2003 and December 31, 2002
          and for the period from January 1, 2003 through  April 1, 2003 and for
          the three and nine months ended September 30, 2002:


                                       15
<PAGE>
<TABLE>
<CAPTION>

                             IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
                        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                      AS OF SEPTEMBER 30, 2003
                                      ------------------------
                                             (UNAUDITED)


                                                             As of               As of December
                                                        April 1, 2003              31, 2002
                                                      -------------------     -------------------
<S>                                                <C>                     <C>
Cash                                               $                160    $            213,923
Accounts receivable, net                                        212,741                 149,676
Inventory                                                        78,955                 383,738
Prepaid expenses                                                113,044                  99,488
Property, plant and equipment, net                              417,727                 442,674
Other assets                                                     24,963                    -
                                                      -------------------     -------------------
  Total Assets                                     $            847,590    $          1,289,499
                                                      -------------------     -------------------

Accounts payable                                              1,044,294               1,182,423
Accrued liabilities                                             134,058                 240,833
Due to factor                                                   211,249                  94,746
Taxes payable                                                   436,513                 388,520
Translation adjustment                                           93,790                    -
Notes payable                                                   129,366                  80,220
Due to related parties                                          424,329                 720,376
                                                      -------------------     -------------------
  Total Liabilities                                           2,473,599               2,707,118
                                                      -------------------     -------------------

  Net Liabilities of Discontinued Operations       $          1,626,009    $          1,417,619
                                                      ===================     ===================
</TABLE>

<TABLE>
<CAPTION>
                                           For the Period
                                               From                   For the Three               For the Nine
                                          January 1, 2003             Months Ended               Months Ended
                                              Through                 September 30,              September 30,
                                           April 1, 2003                 2002                       2002
                                        ---------------------      -------------------   ------------------------
<S>                                  <C>                        <C>                        <C>
Revenues, net                        $            1,087,906     $          1,241,332       $          1,648,658
Cost of sales                                       960,501                1,235,730                  1,618,446
                                        ---------------------      -------------------   ------------------------
 Gross profit                                       127,405                    5,602                     30,212
 Operating expenses                                 815,985                  906,967                  1,135,708
                                        ---------------------      -------------------   ------------------------
  Loss from discontinued
   operations                                      (688,580)                (901,365)                (1,105,496)
                                        ---------------------      -------------------   ------------------------
 Other expense                                      (44,543)                 (14,511)                   (22,339)
                                        ---------------------      -------------------   ------------------------

   Net loss from discontinued
    operations                       $             (733,123)    $           (915,876)      $         (1,127,835)
                                        =====================      ===================   ========================

                                                                 16
</TABLE>


<PAGE>

                   IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2003
                            ------------------------
                                   (UNAUDITED)

NOTE 3   PREPAID EXPENSES AND OTHER CURRENT ASSETS
------   -----------------------------------------

         Prepaid  expenses and other current assets as of September 30, 2003 and
         December 31, 2002 consist of:


                                              September 30,       December 31,
                                                   2003               2002
                                             --------------      ------------

         Prepaid expenses                   $         9,300     $      14,763
         GST receivable                              21,585            18,002
         Receivable, unrelated parties              140,462              -
         Other                                          376             1,845
                                             --------------      ------------

         Total                              $       171,723     $      34,610
                                             ==============      ============

NOTE 4   INVESTMENT
------   ----------

         On June 26,  2003,  the Company  purchased  5% of the then issued share
         capital  of  ePocket,  Inc.  for  10,000,000  shares  of the  Company's
         unregistered  common  stock  or the  equivalent  of  $300,000  Canadian
         dollars  ("CAD").  The  Company is in the  process of  registering  the
         10,000,000  shares. The shares will then be sold in the open market. If
         the sale of these shares does not generate the amount of funds required
         ($300,000 CAD), the Company will be required to fund the difference. If
         the sales of the shares exceed the minimum required amount, the Company
         may  increase  its  interest  in or have any  remaining  unsold  shares
         returned  for  cancellation  or  rescission.  The  Company  issued  the
         10,000,000  shares on June 26,  2003.  The shares were valued at $0.025
         per share or an aggregate of $250,000, representing the market value at
         the date of grant. The investment in ePocket, Inc. is valued at cost in
         the accompanying condensed consolidated balance sheet.

NOTE 5   ACQUISITIONS
------   ----------

         On September  30, 2003 the Company  issued  6,472,492  shares of common
         stock in  connection  with  the  acquisition  of the  data  integration
         division of SCI Healthcare  Group.  The shares were valued based on the
         closing price of the Company's  common stock on September  18th,  being
         the contracted  determination  date,  which  represented  $200,000.  An
         additional  cash  consideration  of $175,000 was given in the form of a
         promissory note. There is a further provision to allow for the increase
         or  reduction  of a percentage  of the issued  shares if certain  gross
         revenue  targets are not met.  The shares are  therefore  being held in
         trust by the seller's legal counsel. The Company allocated the purchase
         price between  goodwill  ($100,000) and customer list  ($275,000).  The
         customer list will be amortized over a term of three years based on the
         tenure  and  cancellability  of  existing   contracts.

                                       17
<PAGE>
                   IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2003
                            ------------------------
                                   (UNAUDITED)

         The following  unaudited pro forma  consolidated  results of operations
         are presented as if the acquisition of the data integration division of
         SCI  Healthcare  Group had been  made at the  beginning  of the  period
         presented:


                                                              For the Nine
                                                              Months Ended
                                                              September 30,
                                                                   2003
                                                             --------------

           Net sales                                        $       802,479
           Net loss                                                (946,869)
           Basic and diluted loss per share                 $         (0.01)

         On July 22,  2003,  the Company  acquired the source code license for a
         software  product known as XML/Connector  for the healthcare  industry,
         from an  unrelated  company,  which is a  Colorado  and  Toronto  based
         software development company. As part of the terms and conditions,  the
         Company paid (CAD) $120,000 in cash in the form of a note payable,  and
         on August 1, 2003, issued 500,000 shares of common stock to the seller.
         These  shares  were  valued  at $.025 per  share,  or an  aggregate  of
         $12,500,  representing  the  market  value  on the  date of  grant.  At
         September  30,  2003,  the  balance  owing on the  promissory  note was
         $36,955.  Subsequently,  on August 19, 2003,  the Company  acquired the
         intellectual  property rights of the  XML/Connector.  As a result,  the
         seller will cease to develop the product and will transfer all existing
         customer contracts to the Company. As part of the terms and conditions,
         the Company paid (CAD)  $10,000 in cash at closing and on September 30,
         2003 issued 300,000 shares of common stock to the seller.  These shares
         were valued at $.028 per share or an aggregate of $8,400,  representing
         the  market  value on the date of  grant.  The  combined  values of the
         XML/Connector  purchase  total  $115,703  and are  included  in license
         agreements on the accompanying  condensed  consolidated  balance sheet.
         Amortization  will begin in the fourth  quarter of 2003 as sales of the
         product are expected to commence during that period.

NOTE 6   NOTES PAYABLE

         Notes payable consists of the following:

<TABLE>
<CAPTION>
                                                                             September 30,           December 31,
                                                                                 2003                   2002
                                                                         ------------------      -------------------
         <S>                                                            <C>                     <C>
         1,000,000 note payable to Cornell Capital Partners, LP,        $           226,911     $               -
          non-interest bearing (1)

</TABLE>

                                       18
<PAGE>

                   IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2003
                            ------------------------
                                   (UNAUDITED)

<TABLE>
         <S>                                                            <C>                     <C>
         Note payable to IBEW Local Union 105, five-year term,
          no principal payments until August 2004, bearing interest
          at 12% per annum (2)                                                      500,000                     -

         Note payable to SCI Healthcare Group, unsecured (3)                        200,000                     -

         Note payable to Berra Holdings, payable on demand, bearing
          interest at 6% per annum                                                   79,020                  104,020

         Note payable to Karora Technologies, Inc., unsecured (4)                    36,955                     -
                                                                           ------------------      -------------------
                                                                                  1,042,886                  104,020
         Less: current portion                                                      542,886                  104,020
                                                                           ------------------      -------------------

             Notes Payable - Long-Term Portion                          $           500,000     $               -
                                                                           ==================      ===================
</TABLE>

         (1)   In February 2003, the Company received $970,000 proceeds from the
               issuance of a $1 million  promissory note net of a 3% cash fee of
               $30,000, which yields an effective interest rate of approximately
               12% per annum. The promissory note was  non-interest  bearing and
               was to be paid in full within 95 calendar  days.  The Company has
               the  discretion  to repay the note either with the cash  received
               from the  issuance  of stock  under  the  Equity  Line of  Credit
               Agreement  or  with  cash  received  from   operations  or  other
               financing sources.  The note was not fully paid when due, and the
               outstanding  principal  balance owed is payable in full  together
               with  interest  that will be charged at the rate of 24% per annum
               or the highest rate  permitted by law, if lower.  The Company has
               accrued  $34,707 at  September  30,  2003,  which is  included in
               accrued  interest  in  the  current  liabilities  section  of the
               accompanying  condensed  consolidated  balance sheet.  See Note 8
               below for partial repayment of this note.

         (2)   On  July  31,  2003,  the  Company's   wholly  owned   subsidiary
               ActiveCore  Technologies Limited,  received the first installment
               of $500,000 of a planned  $2,000,000  term loan  offering from an
               electrical workers union in Toronto,  Canada.  Under the terms of
               the agreement,  the first  installment will accrue a 12% interest
               rate per annum and is  repayable  over a  five-year  term with no
               payments  required in the first 12 months - the payments  will be
               amortized over the remaining 48 months of the term loan. The loan
               is  convertible  into common  stock of the Company at the rate of
               4.5 shares for every 1 dollar of the loan balance due,  excluding
               interest,  remaining  at the time of  conversion.  As  additional
               consideration  for the loan  advance by the  lender,  the Company
               issued  500,000  warrants  on July 30, 2003 to the lender for the
               purchase of 500,000 shares of common stock at a purchase price of


                                       19
<PAGE>
                        IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
                   NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                 AS OF SEPTEMBER 30, 2003
                                 ------------------------
                                       (UNAUDITED)

               $0.0312  per  share.  The  fair  value  assigned  to the  warrant
               amounted to $0 and was determined using the Black-Scholes  option
               pricing  model.  The  Company  estimates  the  fair  value of the
               warrant   at  the   grant   date  by  using   the   Black-Scholes
               option-pricing   model  with  the  following   weighted   average
               assumptions used for this grant; no dividend yield for all years;
               expected  volatility of 9.3%;  risk-free  interest rate of 1.12%,
               and an  expected  life of 1 year.  The  warrants  expire July 31,
               2004.  The loan is  collateralized  by  substantially  all of the
               assets of the Company.

         (3)   As part of the terms and  conditions  of the  acquisition  of the
               data  integration  division of SCI Healthcare Group (See Note 5),
               part of the  consideration  paid was in the form of a  promissory
               note for $175,000. Additionally,  $25,000 of the note payable was
               used to purchase computer software.  The terms of the note stated
               that this note would be paid in full by the Company no later than
               October 7, 2003.  The note  contained  a default  provision  that
               allowed for  interest on the unpaid  balance to accrue at 18% per
               annum until paid in full.  The Company and SCI  Healthcare  Group
               have agreed in principle to a waiver of default,  which  includes
               an  extension of the due date.  Such  agreement is subject to the
               parties entering into a formal agreement.

         (4)   As  part  of the  terms  and  conditions  of the  acquisition  of
               XML/Connector (See Note 5), part of the consideration paid was in
               the form of a promissory  note for (CAD)  $120,000.  The terms of
               the  note  stated  that  this  note  would be paid in full by the
               Company no later than  September 30, 2003.  The note  contained a
               default provision that allowed for interest on the unpaid balance
               to accrue at 10% per annum until paid in full.  As of the date of
               this filing,  $36,955  remains  unpaid and the noteholder has not
               demanded payment on the overdue amount.

NOTE 7   CONTINGENCIES AND COMMITMENTS
------   -----------------------------

         Activecore Technologies,  Ltd., the Canadian subsidiary has a liability
         to the  Canada  Customs  and  Revenue  Agency  ("CCRA")  in  respect of
         unremitted  payroll  taxes in the amount of  $184,000  which  figure is
         comprised of $101,000  for current  payroll  taxes,  and $83,000 from a
         December  31,  2002 CCRA  audit  assessment  whereby  several  contract
         employees  were  deemed  to  be  eligible  for  statutory  pension  and
         unemployment premiums not previously recorded.  The Company has accrued
         these  liabilities  together with  appropriate  interest and penalties.
         This liability is included in taxes payable in the current  liabilities
         section of the accompanying  condensed consolidated balance sheet as of
         September 30, 2003. An aggressive  collection  effort by the CCRA could
         have a significant negative effect on the Company's operations.

                                       20
<PAGE>

                   IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2003
                            ------------------------
                                   (UNAUDITED)


NOTE 8   STOCKHOLDERS' DEFICIENCY
------   ------------------------

         On February 18, 2003, the Company issued 168,889 shares of common stock
         to an investment banker for payment of penalties for not completing the
         SB-2  filing  by the due  date of July 2,  2002  per the  terms  of the
         registration  rights  agreement  entered  into in  connection  with the
         Equity Line of Credit Agreement.  These shares were valued at $0.13 per
         share or an aggregate of $21,956, representing the closing market value
         on the date of grant.

         On February 18, 2003,  the Company issued 114,408 share of common stock
         to a consultant for payment of $15,000 of consulting  services  accrued
         at December 31, 2002 as common stock to be issued included in currently
         liabilities  in  the  accompanying  consolidated  balance  sheet  as of
         December  31, 2002 and $5,000 of  consulting  services  for January and
         February  of  2003.  These  shares  were  valued  at  $0.13  per  share
         representing the closing market value on the date of grant.

         During the nine month period  ended  September  30,  2003,  the Company
         issued 25,508,381 shares of common stock to the Investment  Bankers for
         cash of $773,089 in connection with the Equity Line of Credit (See Note
         6). The cash was applied against the $1 million promissory note payable
         to the Investment Bankers issued in February 2003.

         On April 23, 2003, the Company issued  3,491,620 shares of common stock
         to the Investment Bankers for cash of $125,000 or $.036 per share.

         On May 28, 2003, the Company amended the Articles of  Incorporation  to
         increase the total number of authorized  common and preferred  stock to
         500,000,000 and 50,000,000 shares, respectively.

         On June 26, 2003, the Company issued  17,804,976 shares of common stock
         to the  president  of the  Company  in lieu of cash in order to satisfy
         shareholder  loans,  expenses paid on behalf of the Company and accrued
         salaries  included  in  the  amounts  due  to  related  parties  in the
         accompanying  condensed  consolidated balance sheets. These shares were
         valued at $.025 per share, or an aggregate of $445,124 representing the
         market value on the date of grant.

         On June 26, 2003, the Company issued  17,804,976 shares of common stock
         to a  director  of the  Company  in lieu of cash in  order  to  satisfy
         shareholder  loans,  expenses paid on behalf of the Company and accrued
         salaries  included  in  the  amounts  due  to  related  parties  in the
         accompanying  condensed  consolidated balance sheets. These shares were
         valued at $.025 per share, or an aggregate of $445,124 representing the
         market value on the date of grant.

                                       21
<PAGE>
                   IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2003
                            ------------------------
                                   (UNAUDITED)


         On June 26, 2003, the Company issued  1,250,000  shares of common stock
         to four  employees  of the Company for payment of accrued  compensation
         and  bonuses.  These  shares  were  valued  at $.025 per  share,  or an
         aggregate  of  $31,250  representing  the  market  value on the date of
         grant.

         On June 26, 2003, the Company issued  3,000,000  shares of common stock
         to certain  directors  of the Company  for  director  services  for the
         period from June 2003 to June 2004.  These  shares were valued at $.025
         per share, or an aggregate of $75,000  representing the market value on
         the date of grant.  As of September 30, 2003,  the Company has deferred
         $61,476  included  in  total   stockholders'   deficiency  as  deferred
         compensation in the accompanying condensed consolidated balance sheets.

         On June 26, 2003,  the Company issued 300,000 shares of common stock to
         an  unrelated  consultant  having  a value  of  $7,500  for  consulting
         services.  These  shares were valued based upon the market value on the
         date of grant.

         On June 26, 2003, the Company issued  2,000,000  shares of common stock
         to an  unrelated  party in  connection  with an  agreement  to  provide
         investor  relations  services.  These  shares  were valued at $.025 per
         share, or an aggregate of $50,000  representing the market value on the
         date of grant.  As of  September  30,  2003,  the Company has  deferred
         $8,333,  included in deferred  consulting  expense on the  accompanying
         condensed consolidated balance sheet.

         On June 26, 2003, the Company issued  5,000,000  shares of common stock
         to an unrelated consultant as consideration for an agreement to provide
         consulting  services  from June 2003 to June 2004.  These  shares  were
         valued at $.025 per share,  or an aggregate  of $125,000,  representing
         the market  value on the date of grant.  At  September  30,  2003,  the
         Company has deferred $83,333,  included in deferred  consulting expense
         on the accompanying condensed consolidated balance sheets.

         On June 26, 2003, the Company issued  50,000,000 shares of common stock
         to  the  former  shareholders  of  Ignition   Entertainment,   Ltd.  in
         accordance  with the  original  May 28, 2002  purchase  agreement.  The
         acquisition  was  made  pursuant  to  the  Company  agreeing  to  issue
         15,000,000  shares of common  stock and  3,500,000  shares of preferred
         stock convertible into 35,000,000 shares of common stock;  collectively
         valued at $0.23898 per share for a total purchase price of $11,949,156.
         The  issuance  of these  50,000,000  shares  of common  stock  relieved
         $11,949,156  in preferred  and common stock to be issued as of April 1,
         2003.  (See  Note  2,  Discontinued   Operations  for  details  on  the
         acceleration  of the issuance of these shares and the sale agreement of
         Ignition Entertainment Ltd.)

                                       22
<PAGE>
                   IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2003
                            ------------------------
                                   (UNAUDITED)


         On June 26, 2003, the Company issued  5,180,000  shares of common stock
         to two  unrelated  parties for fees and  interest  payable  relating to
         financing for the Company. Financing costs included in interest expense
         for  the  nine  months  ended  September  30,  2003  totaled   $129,500
         representing the market value on the date of grant.

         On June 26, 2003,  the Company  issued  500,000  shares of common stock
         that were released from escrow to an individual for services  rendered.
         These shares were valued at $.025 per share, or an aggregate of $13,500
         representing the market value on the date of grant,  which was expensed
         for the nine months ended September 30, 2003.

         In 2002,  the  Company  issued  50,000,000  shares of  common  stock to
         various  officers and directors of the Company in  accordance  with the
         stock  purchase  agreement  with  International   Technology  Marketing
         ("ITM").  All shares were held in safekeeping pending the completion of
         an escrow  agreement.  As of December 31, 2002,  30,000,000 shares were
         earned and were released from escrow.  The Company has  accelerated the
         issuance of the final 20,000,000  shares from escrow.  These 20,000,000
         shares were released from escrow as  stock-based  compensation  on June
         30, 2003 and were valued at $.027,  or an  aggregate of $540,000 on the
         date of sale.

         On August 1, 2003, the Company issued 500,000 shares of common stock in
         connection  with  the  acquisition  of the  XML/Connector  source  code
         license.  The shares  were valued at $.025 per share  representing  the
         market value on the date of grant (See Note 5).

         On September  30, 2003,  the Company  issued  300,000  shares of common
         stock in connection with the acquisition of the  intellectual  property
         rights of the XML/Connector.  The shares were valued at $.028 per share
         representing the market value on the date of grant (See Note 5).

         On July 14, 2003, the Company entered into a consulting  agreement with
         an unrelated  individual  to provide  services  through  June 2004.  On
         August 1, 2003, the Company issued  4,000,000 shares of common stock to
         this  consultant  as  compensation  for services to be rendered.  These
         shares were valued at $.025 per share, representing the market value on
         the date of  grant.  The  Company  has  deferred  $75,000  included  in
         deferred consulting expense in the accompanying  condensed consolidated
         balance sheets.

         In July 2003, the Company  entered into a consulting  agreement with an
         unrelated  individual to provide  services through June 2004. On August
         1, 2003,  the Company  issued  150,000  shares of common  stock to this
         consultant.  These shares were valued at $.033 per share,  representing
         the closing market value on the date of grant. The Company has deferred
         $3,600  included in  deferred  consulting  expense on the  accompanying
         condensed consolidated balance sheets.

                                       23
<PAGE>
                   IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2003
                            ------------------------
                                   (UNAUDITED)

         In July 2003, the Company entered into  employment  agreements with two
         contractors  related to cell phone game  development  and medical  data
         integration services,  respectively. On August 1, 2003, each contractor
         was issued 500,000 shares of common stock as compensation. These shares
         were valued at $.025 per share,  representing  the market  value on the
         date of grant.

         In July 2003,  the  Company  issued  1,562,700  unregistered  shares of
         common  stock to an officer of the  Company in lieu of cash in order to
         satisfy  shareholder loans,  expenses paid on behalf of the Company and
         accrued  expenses.  These  shares  were  valued  at  $.025  per  share,
         representing the market value on the date of grant.

         The Company  entered  into an agreement  with an  unrelated  company to
         source   additional  "name  brand"   properties  for  cell  phone  game
         production and issued this unrelated company 2,000,000 shares of common
         stock as a consulting  fee.  These shares were issued on August 1, 2003
         and were valued at $0.025 per share,  representing  the market value on
         the date of grant.

         On September  30,  2003,  the Company  entered into a contract  with an
         independent  advisor to consult with the Company with regard to finance
         activities  and  general  corporate  development.  The  Company  issued
         1,000,000 shares of common stock, which were valued at $.029 per share,
         representing  the market  value on the date of grant.  The  Company has
         deferred $26,583 of this charge.

         On  September  30,  2003,  the  Company  issued   6,472,492  shares  in
         connection   with  the  acquisition  of  certain  assets  of  the  data
         integration unit of SCI Healthcare  Group. The shares were valued as at
         the  closing  price  on  September   18,  2003  being  the   contracted
         determination  date,  which  represented  $200,000.  An additional cash
         consideration  of $175,000 was given in the form of a  promissory  note
         (See Note 5).

         On September 30, 2003 the Company  issued  150,000 shares as bonuses to
         employees for successful  completion of certain technology.  The shares
         were valued at $.028 per share,  representing  the closing bid price on
         the date of the board resolution.

         On June 26, 2003 the  Company  purchased  5% of the then  issued  share
         capital of ePocket,  Inc. for 10,000,000  shares of common stock valued
         at $250,000 (See Note 4).

NOTE 9   TREASURY STOCK
------   --------------

         Treasury  stock is shown at cost and consists of  11,000,000  shares of
         common  stock  held in  trust  with an  independent  third  party as of
         September 30, 2003. The value of the  11,000,000  shares to be received
         in  connection  with  the  sale of  Ignition  Entertainment,  Ltd.  was
         $770,000,  representing  the closing market value on the effective date
         of the sale.

                                       24
<PAGE>
                   IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2003
                            ------------------------
                                   (UNAUDITED)

NOTE 10  AGREEMENTS
-------  ----------

         (A) DEVELOPMENT AND DISTRIBUTION AGREEMENT
         ------------------------------------------

         On February 10, 2003, the Company signed a development and distribution
         agreement with a distribution company for distribution of the Company's
         games and other  applications  for  mobile  phones  and other  handheld
         devices to the  distribution  company's  mobile operator  channels on a
         worldwide basis. Under the terms of the agreement,  which sets forth an
         initial publication schedule consisting of 14 products, the Company may
         also  sublicense  and provide games and  applications  created by other
         developers to the distribution company for distribution to their mobile
         operators.  Under the terms of the agreement,  the Company will receive
         royalty  payments as the developer for each sale of the Company's games
         and other  applications.  The  Company  has not  received  any  royalty
         payments  through  September  30,  2003,  but  expects  sales  of these
         products to begin in the fourth quarter of 2003.

         (B) HOSPITAL SERVICE AGREEMENTS
         -------------------------------

         The  Company  has entered  into a number of  one-year  agreements  with
         medium to large  hospitals and health care  facilities in Ontario.  The
         Company will make  interfacing  resources  available to these customers
         throughout  the  contract  term  and  provide   general   medical  data
         integration  support  services as requested by the client,  either on a
         fixed  cost,  or  time  and  materials  basis.  These  agreements  will
         automatically be renewed for one-year terms unless terminated by either
         party in accordance with the terms set forth in the agreements.

         (C) MERCHANDISING LICENSE AGREEMENT
         -----------------------------------

         In August 2003,  the Company  acquired the rights to build a cell phone
         game  based  on  the  "Zorro"   character  and  trademark   from  Zorro
         Productions,  Inc. of California.  A license agreement was entered into
         whereby the Company  shall pay no royalties on the first $50,000 of net
         sales and subsequently the Company and the licensor shall share equally
         a royalty of 50% on net sales.  There shall be no minimum royalty.  The
         initial  term of the  agreement  expires on March 31,  2004.  There are
         automatic  renewal options if the Licensor  receives  specified royalty
         amounts.  These renewal  options  extend  through  March 31, 2005.  The
         Company  has  not  received  nor  made  any  royalty  payments  through
         September 30, 2003. The Company this product to be launched in December
         2003.

                                       25
<PAGE>
                   IVP TECHNOLOGY CORPORATION AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2003
                            ------------------------
                                   (UNAUDITED)


NOTE 11  SUBSEQUENT EVENTS
-------  -----------------

         On October 15,  2003,  the Company  issued  3,000,000  shares of common
         stock to  Danson  Partners,  LLC in full  settlement  of cash and share
         obligations.  The  shares  were  valued  at  $0.031  per  share,  or an
         aggregate  of  $93,000,  representing  the market  value on the date of
         grant. This share issuance  satisfies the $72,851 liability included in
         accounts  payable  on  the  condensed  consolidated  balance  sheet  at
         September 30, 2003 plus 1,000,000 shares due Danson  Partners,  LLC for
         previous services rendered.

         Subsequent to September 30, 2003, the Company entered into a memorandum
         of  understanding  with EXML  Limited  of  Padiham,  Lancashire,  UK to
         distribute  software  products  based on the  Appworld.net  development
         platform.  The  Company  is in the  process  of  establishing  two  new
         subsidiaries  to be called  ActiveCore  Exml Inc. and  AcitveCore  Exml
         Limited  to  market  applications  based  on the  Appworld  development
         platform.  Through  the  end of  March  2004,  the  Company  will  have
         exclusive  distributorship  of  products  based  on  Appworld  in North
         America.  During the period of  exclusivity,  ActiveCore  and Exml will
         negotiate potential joint venture  arrangements for the distributorship
         of the products.

         On November 12, 2003, the Company entered into an agency agreement with
         an unrelated  party to raise up to  $7,000,000  in equity  financing to
         enable the  Company to purchase a 23% equity  interest in an  unrelated
         company  that is engaged in certain  technology  within the health care
         industry.  Under  the terms of the  agreement,  the  Company  will sell
         50,000,000 shares to certain investors at $.14 per share. In accordance
         with the  existing  letter  of  intent,  the 23%  investment  will cost
         $10,000,000  with  additional  funds expected to come from a term loan.
         Under the terms of the equity  financing the Company will be seeking to
         register the 50,000,000 shares at the earliest opportunity.

         If the offering is completed,  the agent will receive a cash commission
         equal to 4% of the gross  proceeds of the  offering.  The Company shall
         also issue to the agent a number of freely tradable common shares equal
         to 5.6% of the aggregate number of common shares issued pursuant to the
         offering and a number of restricted common shares equal to 6.47% of the
         aggregate number of common shares being issued pursuant to the offering
         as  additional  compensation.   Also,  in  connection  with  the  above
         offering,  the Company will be  responsible  at the escrow release date
         for all  reasonable  costs  and  expenses  of the  agent  not to exceed
         $100,000. As collateral for these payment obligations,  Brian McDonald,
         Peter  Hamilton  and  Kevin  Birch,  each of whom are  insiders  of the
         Company,  have  agreed to pledge an  aggregate  of 3,000,000 registered
         common shares of the Company.


                                       26
<PAGE>

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS

Business Overview

     IVP   Technology   operates   its  business   under  the  name   ActiveCore
Technologies, Inc. ("ActiveCore").  ActiveCore is a Toronto-based commercial and
consumer software developer,  licensor, publisher, marketer, and distributor. We
concentrate on providing  consumers and  enterprises  with mobile device and web
software and provide information  technology services to businesses.  We operate
through two divisions, enterprise and consumer. We have operations in the United
Kingdom,  Canada and the United States. In the enterprise division,  we develop,
market and distribute  mobile device,  web based and other software products and
provide  services  primarily in the  healthcare  and insurance  markets.  In the
consumer division, we develop,  license,  market,  publish and distribute mobile
device  and web based  entertainment  software  primarily  in  Europe  and North
America to wireless carriers and through web portals.

     Since July 1, 2002,  ActiveCore  has been  concentrating  on expanding  its
customer base and its distribution  capacity in both the consumer and enterprise
segments.  In the consumer  division,  we are continuing to develop our own, and
are searching for additional  third party mobile game titles to fill our release
schedule for  publication  and  distribution  for 2004 and 2005. This may entail
completing strategic alliances with or acquiring development companies,  as well
as licensing  completed  products/titles for publication and distribution rights
in certain geographical territories or for certain mobile hardware platforms. In
the enterprise  division,  we also continue to develop our own software products
as well as search for  additional  distribution  rights for third party software
products to round out our software offerings for our clients,  as well as to add
more  information  technology  service  personnel  and  obtain  new  information
technology  service  contracts.  To accelerate this growth, the Company recently
acquired  the  former  medical  data  integration  clients  of Toledo  based SCI
Healthcare group, Inc.

     In addition to the foregoing, we have also made an equity investment in one
other Company.  The investment is a 5% equity stake in e-pocket Inc., which is a
private Company  headquartered in Canada.  e-Pocket has developed a digital cash
software  solution for banks,  merchants and consumers for web based  purchasers
primarily for  micro-payments,  defined as payments under $10.00.  e-Pocket is a
development  stage  Company  that  expects  to have its  first  trial  operation
commence by year-end  between a number of merchants and several banks.  E-Pocket
and ActiveCore have also signed a development  agreement whereby ActiveCore will
develop the code for e-pocket's micro-payments software based on mobile phones.

RESULTS OF OPERATIONS

     NINE MONTHS ENDED  SEPTEMBER  30, 2003  COMPARED WITH THE NINE MONTHS ENDED
SEPTEMBER 30, 2002

     REVENUES.  During the nine months ended  September  30, 2003,  we generated
$355,776 in revenue in  comparison  to revenue of $257,070 in the  corresponding
period ended September 30, 2002.  From a revenue source  perspective in the nine
months ended September 30, 2003, $246,015 of revenue was generated by ActiveCore
Technologies  Limited  (formerly  Springboard)  from  service  work and  product
installation,  chiefly by the Company's Medical Data Integration (MDI) division.
IVP Technology did not acquire Springboard  Technology Solutions Inc. until July
1, 2002.  Consequently this is the first quarter in which  comparative  revenues
for 2002 include the Canadian operation. A small additional  contribution to MDI
revenues came from the September 20th acquisition of the client contracts of SCI
Health  Group  in the  United  States.  A  further  $103,051  was  derived  from
distribution  of third party  console games  developed  for the US market.  This
market  contributed  $200,000 in game  distribution  revenues in the nine months
ended  September 30, 2002.  The Company is no longer active in this arena due to
the subsequent divestment of Ignition  Entertainment.  The Company accounted for
the divestment of Ignition Entertainment as discontinued  operations with effect
from April 1, 2003.  Therefore  there is no revenue from Ignition UK included in
the results for the nine months ended September 30 of either year.

     COST OF  SALES.  Cost of  sales  was  $401,065  for the nine  months  ended
September  30, 2003 versus  $1,229,061  for the nine months ended  September 30,
2002.  The  principal  cost of sales in the  current  fiscal year  consisted  of
amortization  of the  third  party  software  licenses  of  $279,172,  and other
purchased  resale items amounting to $30,818.  A sum of $91,075 was additionally
attributable  to the  direct  labor  costs of  fulfillment  in the  period.  The
principal  cost of sales in the nine months ended  September  30, 2002 was video
game distribution costs in the United States, in addition to the amortization of
the third party  software  license.  The result of the cost of sales  components
elaborated  above led to a negative  gross  margin of $45,289 in the nine months
ended  September 30, 2003 versus a negative gross margin of $971,991 in the nine
months ended September 30, 2002.

                                       27
<PAGE>

     OPERATING  EXPENSES.  Total  operating  expenses  for the nine months ended
September 30, 2003 were  $2,303,219  versus  $5,215,772 in the nine months ended
September  30,  2002.  These  expenses  resulted  in losses from  operations  of
$2,348,508  in the  current  period and  $6,187,763  for the nine  months  ended
September 30, 2002.

     The largest  components of operating expenses in both years were related to
stock based  compensation,  salaries and wages,  consulting fees and general and
administration expenses, with financial advisory fees playing a significant role
in 2002. These expenses are discussed below.

     ActiveCore's  Canadian  operations  accounted  for $506,069 of salaries and
wages  which  represented  the  cost  of  developers,   data  management  staff,
administration  and sales and marketing staff. A further $13,598  represents the
ten days of operations by the US division of MDI  Solutions.  Salaries and wages
include costs of all group  insurance and various  government  payroll taxes. In
the period ended  September 30, 2002  salaries and wages were $54,124,  entirely
within the Canadian  operation.  The increase in current year expense reflects a
full nine months of Canadian operations versus only three in the prior year (the
latter was acquired on July 1st, 2002). Additional staff have also been added at
the operations  level to facilitate the development of the  RecessGames  portal,
the Zorro property and other games,  and the  maintenance  and refinement of XML
based products for the enterprise  division.  The Company  additionally  paid an
aggregate of $38,000 in performance and signing bonuses to certain key personnel
in the current year.

     Stock based compensation of $618,080 in the nine months ended September 30,
2003 represents  amortization of deferred directors'  remuneration and the final
release of shares  earned  under the ITM  purchase  agreement,  in the amount of
$540,000.  In the third quarter of 2002,  $3,800,000 in stock based compensation
was recorded as the managers of the Company had met the first milestone  payment
on the ITM compensation shares. Under the original ITM purchase agreement, stock
was to be released to the managers of ITM as sales revenue targets were met - at
the time the original  agreement was made it was  anticipated by both the former
directors of IVP and the owners of ITM that the stock issued in exchange for the
ITM  acquisition  would  have been  valued as at the date of the  agreement  and
accounted for as a large goodwill value on the balance sheet. However during the
Company's prolonged Form SB-2 approval process it was determined that the common
stock was required to be accounted  for at closing  share price values as at the
quarter end in the each of the quarters where the original sales revenue targets
were achieved.

     General and Administrative expenses were $562,907 for the nine months ended
September  30, 2003 versus  $153,889 for the same period of 2002. In the current
period the largest  components of G & A are the write down of commitment fees on
the  equity  line of  credit  ($154,050);  occupancy  and  office  costs  at the
Company's main facility in Toronto; travel and promotion expenditures; and costs
associated with the retention of Hawk  Associates,  the annual general  meeting,
and  other  investor  relations  expenditures.  Hawk  has been  retained  as the
Company's  Investor  Relations advisor at a rate of $7,000 per month in addition
to a one time grant of 2,000,000 shares of unregistered stock. The significantly
smaller  figure for 2002 results from the Company  having been largely  inactive
prior to the May 28 and July 1 subsidiary acquisitions.

     Consulting fees for the nine months ending September 30, 2003 were $212,974
versus $452,815 in the nine months ended September 30, 2002. The fees to the end
of  September  30, 2003  reflect the  amortization  of several  small  marketing
agreements as well as the $50,000 paid to the  consultant  who  facilitated  the
Zorro license agreement. They also include external directors' fees. In the nine
months  ended  September  30,  2002,  the costs  reflected  the value of various
financial and marketing  consultants  who were assisting the Company in relation
to the Form SB-2 filing and expanding its product set and sales opportunities.

     Legal and  accounting  expenses  were  $214,209  in the nine  months  ended
September 30, 2003 versus $252,166 in the nine-month  period ended September 30,
2002. The increase between the two most current quarters (primarily due to legal
fees incurred in the process of acquiring  certain  intangible  assets and human
resources  from SCI Health  Group) is offset in the year to date  numbers by the
impact of higher  2002  expenditures  relative  to  acquisitions  in the  second
quarter of 2002 and the Form SB-2 preparation costs.

     Management  fees and financial  advisory fees in the period ended September
30, 2003 were  $120,688 and $39,914  respectively,  versus  $81,107 and $150,000
respectively for the nine months ended September 30, 2002. The current financial
advisory  charges  represent  amortization  of a  consulting  agreement  for the
purpose of  establishing  a new term loan for  $2,000,000 to assist with working
capital,  versus the 2002 expense  that related to placing the Equity  Financing
arrangement  with  Cornell  Capital  Partners.  Management  fees have  increased
overall  partly  due to the  improved  value of the  Canadian  dollar  vis-a-vis
Toronto based personnel.

     For  the  nine  months  ended  September  30,  2003  the  Company  incurred
amortization  and  depreciation  charges of $28,378 versus  $271,671 in the nine
months ended September 30, 2002. The current  charges were primarily  related to

                                       28
<PAGE>

computer  equipment  in  use  in  the  Company's   offices.   The  2002  expense
additionally reflects the cumulative adjustment resulting from the renegotiation
of the TiG software license.

OTHER INCOME/EXPENSE

     For the nine months ended September 30, 2002 the Company realized a gain of
$924,904 on the early  extinguishment of debt related to the  aforementioned TiG
accounts payable balance, and $96,334 in respect of amounts due to DcD Holdings.
In the nine months ended September 30, 2003 there was no corresponding event.

     Interest  income from cash on deposit was $6,497 for the nine months  ended
September 30, 2003 versus $5,126 for the nine months ended September 30, 2002.

     Interest  expense  was  significantly  higher  for the  nine  months  ended
September 30, 2003, at $315,803,  than in the comparative period ended September
30, 2002 which was $77,577.  In the current year the Company  incurred  interest
charges related to the recently  negotiated  first $500,000 tranche of a planned
$2,000,000 long term debt financing;  interest penalties on the early retirement
of  the  convertible  debenture;  penalties  for  late  filing  of the  SB-2  in
connection  with  the  Equity  Financing;   commission  charged  on  the  Equity
Financing;  and  interest  costs on the Berra term  loan,  whereas in the period
ended  September 30, 2002 the interest  expense was related  principally  to the
Berra  note  and the  aforementioned  convertible  debenture,  obtained  from an
unrelated party.

     The Company recorded a foreign exchange gain of $57,895 for the nine months
ended September 30, 2003 as a result of the decline of the US dollar in relation
to the Canadian Dollar.  In the period ended September 30, 2002, the Company had
no  foreign  exchange  adjustment  due  to the  relative  stability  of the  two
currencies  subsequent  to the June quarter,  there being no foreign  subsidiary
prior to that date.

     LOSS FROM CONTINUING OPERATIONS.  As a result of the items specified above,
the Company  incurred a loss from  continuing  operations of $2,599,919 or $0.02
per  share  for the nine  months  ended  September  30,  2003,  versus a loss of
$5,238,976 or $0.06 per share for the nine months of 2002.


     DISCONTINUED OPERATIONS

     The Company recorded a net gain on discontinued operations from the sale of
Ignition Entertainment Limited of $2,396,009 for the nine months ended September
30, 2003 versus a loss on  discontinued  operations of  $1,127,835  for the nine
months ended September 30, 2002. As a result of the divestiture of Ignition, the
Company  had a net loss of  $937,033,  or $0.01 per share,  for the nine  months
ended  September  30, 2003  compared to a net loss of  $6,366,811,  or $0.07 per
share, for the comparable period in the prior year.


     THREE MONTHS ENDED  SEPTEMBER 30, 2003 COMPARED WITH THE THREE MONTHS ENDED
SEPTEMBER 30, 2002

     REVENUES.  During the three months ended  September  30, 2003, we generated
$124,767 in revenue in  comparison  to revenue of $167,070 in the  corresponding
period ended September 30, 2002. From a revenue source  perspective in the third
quarter of fiscal year 2003,  $118,057 of revenue was  generated  by  ActiveCore
Technologies Limited from service work and product installation,  chiefly by the
Company's Medical Data Integration (MDI) division. The Company accounted for the
divestiture of Ignition  Entertainment  as  discontinued  operations with effect
from April 1, 2003.  Therefore  there is no revenue from Ignition UK included in
the  results  for the  three  months  ended  September  30 of either  year.  IVP
Technology did not acquire  Springboard,  now ActiveCore  Technologies  Limited,
until July 1, 2002.  Consequently this is the first quarter in which comparative
revenues for 2002 include the Canadian operation. The third quarter results from
2002 comprise $57,070 from  Springboard's  contribution,  with the balance being
from  distribution  of third  party  console  games in the US.  During the third
quarter of 2003 revenue  from the MDI  division  was still  affected by the SARS
outbreak in Toronto which constrained revenue earning  opportunities  within the
existing  hospital  contracts and in terms of expanding our  operations to other
health care units in the US and Canada. A small  additional  contribution to MDI
revenues came from the September 20th acquisition of the client contracts of SCI
Health Group in the United States.

                                       29
<PAGE>

     COST OF  SALES.  Cost of sales was  $113,945  for the  three  months  ended
September  30, 2003 versus  $322,733 for the three months  ended  September  30,
2002.  The principal  cost of sales items in the third quarter 2003 consisted of
amortization of the Classifier  software  license of $89,202 while the principal
cost of sales in the third  quarter  ended  September  30,  2002 was video  game
distribution costs, in the United States, in addition to the amortization of the
classifier  license.  The Company  recorded  amortization of prepaid licenses of
$92,983 related to IVP's  Classifier(TM) and I-Bos(TM)  distribution and license
agreements in the third quarter of both 2003 and 2002. The result of the cost of
sales components elaborated above led to a gross profit of $10,822 for the three
months ended  September 30, 2003 versus a negative  gross profit of $155,663 for
the three months ended September 30, 2002.

     OPERATING  EXPENSES.  Total  operating  expenses for the three months ended
September 30, 2003 were $720,614  versus  $3,957,501  for the three months ended
September  30,  2002.  These  expenses  resulted  in a loss from  operations  of
$709,792  in the  most  recent  quarter  and  $4,113,164  in the  quarter  ended
September 30, 2002.

     The largest components of third quarter fiscal year 2003 operating expenses
were related to stock based  compensation,  salaries and wages,  consulting fees
and general and administration expenses. These expenses are discussed below.

     ActiveCore's  Canadian  operations  accounted  for $256,497 of salaries and
wages  which  represented  the  cost  of  developers,   data  management  staff,
administration  and sales and marketing staff.  Additional staff have been added
throughout the year, at the operations  level,  to facilitate the development of
the RecessGames  portal, the Zorro property and other games, and the maintenance
and  refinement of XML based  products for the  enterprise  division.  A further
$13,598  represents  the  ten  days  of  operations  by the US  division  of MDI
Solutions.  Salaries and wages include costs of all group  insurance and various
government  payroll taxes.  For the period ended September 30, 2002 salaries and
wages were only $54,124,  entirely within the Canadian operation,  which at that
point had not begun developing consumer products.

     Stock based  compensation  of $44,346 for the third quarter ended September
30,  2003  represents  amortization  of  directors'  remuneration.  In the third
quarter of 2002,  $3,800,000  in stock based  compensation  was  recorded as the
managers  of the  Company  had  met  the  first  milestone  payment  on the  ITM
compensation shares. Under the original ITM purchase agreement,  stock was to be
released to the managers of ITM as sales revenue  targets were met - at the time
the original  agreement was made it was anticipated by both the former directors
of IVP and the  owners of ITM that the  stock  issued  in  exchange  for the ITM
acquisition would have been valued as at the date of the agreement and accounted
for as a large goodwill value on the balance sheet. However during the Company's
prolonged Form SB-2 approval process it was determined that the common stock was
required to be accounted for at closing share price values as at the quarter end
in the each of the  quarters  where the  original  sales  revenue  targets  were
achieved.

     General and  Administrative  expenses  were  $170,540 for the quarter ended
September 30, 2003 versus  $(170,872)  in the quarter ended  September 30, 2002.
For the most current  quarter the largest  component of G & A was the write down
of commitment fees on the equity line of credit and the cost associated with the
retention of Hawk Associates as the Company's  Investor Relations firm. Hawk has
been retained at a rate of $7,000 per month in addition to a one time  2,000,000
unregistered  stock  grant.  The  negative  figure  for  2002  results  from the
restatement of  infrastructure  and management fees previously billed to the IVP
parent by Springboard Technology Solutions, prior to its acquisition by IVP.

     Consulting fees for the three months ended September 30, 2003 were $119,044
versus  $102,835 for the quarter  ended  September  30,  2002.  The fees for the
quarter  ended  September  30, 2003 reflect the  amortization  of several  small
marketing  agreements  as  well  as  the  $50,000  paid  to the  consultant  who
facilitated the Zorro license  agreement.  For the third quarter ended September
30, 2002,  the costs  reflected  the value of various  financial  and  marketing
consultants  who were  assisting the Company in relation to the Form SB-2 filing
and expanding its product set and sales opportunities.

     Legal and  accounting  expenses  were  $60,335 for the three  months  ended
September 30, 2003 versus $40,192 for the three month period ended September 30,
2002. The increase  between the periods was primarily due to legal fees incurred
in the process of acquiring  certain  intangible assets and human resources from
SCI Health Group.

     Management  fees and  financial  advisory  fees for the three  months ended
September 30, 2003 were $44,346 and $9,098  respectively,  versus $23,301 and $0
respectively  for the quarter ended  September 30, 2002. The financial  advisory
charges  represent  amortization  of a consulting  agreement  for the purpose of
establishing a new term loan for $2,000,000 to assist with working capital.

     For the quarter ended September 30, 2003 the Company incurred  amortization
and  depreciation  charges  of $9,656  versus  $107,921  for the  quarter  ended
September  30,  2002.  The current  charges were  primarily  related to computer

                                       30
<PAGE>

equipment  in  use in the  Company's  offices.  The  2002  expense  additionally
reflects the cumulative  adjustment  resulting from the renegotiation of the TiG
software license.

OTHER INCOME/EXPENSE

     For the quarter  ended  September  30, 2002 the Company  realized a gain of
$924,904 on the early  extinguishment of debt related to the  aforementioned TiG
accounts payable balance.  For the quarter ended September 30, 2003 there was no
corresponding event.

     Interest income from cash on deposit was $0 for the quarter ended September
30, 2003 versus $5,084 for the quarter ended September 30, 2002.

     Interest expense was  significantly  higher for the quarter ended September
30, 2003, at $88,673,  than in the  comparative  period ended September 30, 2002
which was $11,432. For the current quarter the Company incurred interest charges
related  to  the  recently  negotiated  first  $500,000  tranche  of  a  planned
$2,000,000 long term debt financing and interest costs on the Berra term loan in
addition to accruing interest arising from the expiry of the grace period on the
Equity line of credit.  For the quarter  ended  September  30, 2002 the interest
expense was related  principally  to the Berra note and a convertible  debenture
obtained from an unrelated party.

     The  Company  recorded a foreign  exchange  gain of  $43,821  for the three
months ended  September  30, 2003 as a result of the decline of the US dollar in
relation to the Canadian  Dollar.  For the quarter ended September 30, 2002, the
Company had no foreign exchange  adjustment due to the relative stability of the
two currencies subsequent to the June quarter.

     LOSS FROM CONTINUING OPERATIONS.  As a result of the items specified above,
the Company incurred a loss from continuing  operations of $754,644 or $0.00 per
share versus a loss of  $3,194,608  or $0.03 per share for the third  quarter of
2002.


NET INCOME (LOSS)

     DISCONTINUED OPERATIONS

     For the  three  months  ended  September  30,  2003  there was no effect on
operations  relating to the  discontinued  operations of Ignition  Entertainment
Limited.  For the three  months ended  September  30, 2003 the Company had a net
loss from the  discontinued  operations  of  Ignition  Entertainment  Limited of
$915,876 or $(0.01) per share.


LIQUIDITY AND CAPITAL RESOURCES

     Prior to December 31, 2001 the Company  financed its  operations  through a
combination of convertible  securities and the private  placement of shares.  In
the fiscal  year ended  December  31,  2002 the  Company  entered  into  several
financing  arrangements.  These  included an equity line of credit with  Cornell
Capital  Partners  LP  for  $10,000,000  and  factoring  and  letter  of  credit
facilities  with DcD Group to assist in providing  working  capital for Ignition
Entertainment  Limited.  This latter  arrangement  has since been  cancelled  in
conjunction  with the  sale of  Ignition  Entertainment  Limited.  In the  third
quarter of 2003, the Company  obtained the first  $500,000  tranche of a planned
$2,000,000  term debt  offering.  With the  divestiture of Ignition our need for
cash to fund operations has been reduced  substantially with most of the need to
repay  extended  payables and to fund  day-to-day  operations  until our product
sales and service revenues increase sufficiently to meet operating costs and the
costs of remaining a public Company.

     As of September 30, 2003, our need for cash included satisfying  $1,691,394
of current  liabilities  which consisted of accounts payable of $681,763,  which
includes  $72,851  owing to  Danson  Partners  and which  was  satisfied  by the
issuance  of shares  subsequent  to the quarter  end,  and an amount of $226,824
recorded  as owing  to  Orchestral,  which is in  dispute;  $80,775  of  accrued
liabilities;  taxes payable of $187,527;  other current  liabilities  of $2,683,
accrued  interest of $58,110;  the current portion of leases payable of $22,013;
amounts payable to related parties,  consisting of management,  of $97,637;  and
notes payable of $542,886, which includes outstanding amounts to Berra, Cornell,
and SCI Health Group. As indicated in the liquidity  section above,  the Company
entered in to a $500,000  term loan in July 2003 which is the first tranche of a
planned  $2,000,000 term debt offering.  In the quarter ended September 30, 2003
this $500,000 tranche and the extended portion of leases payable of $8,603, were

                                       31
<PAGE>

the only  components of long-term  debt. The Company  substantially  reduced its
short term and long term debt from the fiscal  period  ended  December  31, 2002
through  the  issuance  of the  common  shares  that  were  due to the  original
shareholders  of  Ignition   Entertainment  and  also  from  the  conversion  of
shareholders  loans,  accrued expenses and unpaid salaries to several  directors
and officers.  In the quarter ended September 30, 2003 Mr. Kevin Birch converted
$39,068 of amounts due to him by the Company,  into  1,562,700  shares of common
stock.

     The  Company's  condensed   consolidated  financial  statements  have  been
presented  on the  basis  that it is a going  concern,  which  contemplates  the
realization of assets and the  satisfaction  of liabilities in the normal course
of  business.  The Company has a net loss of $937,033  and a negative  cash flow
from  operations of $1,722,712 for the nine months ended  September 30, 2003 and
has a working  capital  deficit of $1,387,826 and a  stockholders  deficiency of
$773,956 at September  30, 2003.  Our ability to continue as a going  concern is
dependent on our ability to raise additional bank or non-bank term and operating
credit,  convertible  debt, equity capital or to access capital under the equity
line and implement  our business plan to market and sell our various  enterprise
software and  services  and our various  consumer  software  titles  through our
wholly  owned  subsidiaries.  Subsequent  to the quarter  end the Company  began
negotiations  to purchase an equity interest in another Company to the extent of
$10,000,000.  As part of the capital  financing being  negotiated with regard to
that  investment,  the Company plans to raise additional funds which will assist
the Company's working capital position.

     At  September  30,  2003 the  Company  had cash on hand of  $65,066  versus
$63,162 at the  commencement  of the year.  In addition,  as at the quarter end,
certain  shareholders  have also  supported the Company to the extent of $97,637
and while there is no legal  commitment  for them to do so the Company  believes
that  certain  shareholders  will  continue  to support the Company in a similar
manner.  These advances are shown in current  liabilities and they have no fixed
terms for repayment.  Subsequent to the end of the quarter certain  shareholders
have assisted the Company to the extent of an additional $150,000

     During  February  2003,  upon  the  Company's  SB-2  registration  becoming
effective,  the Company  received  $970,000  proceeds  from the issuance of a $1
million  promissory  note,  net of a 3% cash fee of  $30,000,  which  yields  an
effective  interest rate of approximately  12% per annum. The promissory note is
non-interest  bearing  and is to be paid in full within 95  calendar  days.  The
Company has the  discretion to repay the note either  through cash received from
the issuance of stock under the Equity Line of Credit  Agreement or by cash from
other  sources.  If this  note is not  fully  paid  when  due,  the  outstanding
principal  balance owed will be payable in full  together  with  interest at the
rate of 24% per annum or the highest rate  permitted by law, if lower.  To date,
IVP Technology has repaid $788,089 of this note. Since the note is now past due,
interest has been accrued, in accordance with the terms of the agreement,  in an
aggregate amount of $34,707 to the end of the current quarter.

     In April  2002,  IVP  Technology  entered  into an  Equity  Line of  Credit
Agreement  with  Cornell  Capital  Partners,  L.P.  Under  this  agreement,  IVP
Technology  may issue and sell to Cornell  Capital  Partners  common stock for a
total purchase price of up to $10 million.  Subject to certain  conditions,  IVP
Technology  will be  entitled  to  commence  drawing  down on the Equity Line of
Credit when the common  stock to be issued  under the Equity Line of Credit.  On
February  14,  2003 a Form  SB-2  that was  filed by the  Company  was  declared
effective  by the SEC.  Under the terms of the equity line of credit the Company
may provide  notice to Cornell and Cornell will purchase from the Company shares
equal to 92% of the market  price,  which is defined as the lowest  closing  bid
price of the common  stock during the five  trading  days  following  the notice
date.  The amount of each  advance is subject to an  aggregate  maximum  advance
amount of $425,000 in any thirty-day period Cornell Capital Partners is entitled
to retain 3.0% of each advance.  In April 2002,  IVP  Technology  paid Cornell a
one-time fee equal to $330,000,  paid in the form of 3,032,000  shares of common
stock. In addition, IVP Technology entered into a placement agent agreement with
Westrock Advisors, Inc., a registered  broker-dealer.  Pursuant to the placement
agent agreement,  IVP Technology paid a one-time  placement agent fee of 100,000
shares of common stock, which were valued at $0.20 per share, or an aggregate of
$20,000, on the date of issuance.  IVP Technology agreed to pay Danson Partners,
LLC, a consultant,  a one-time fee of $200,000 for its work in  connection  with
consulting the Company on various  financial  matters.  Of the fee,  $75,000 was
paid in cash with the balance paid in 1,040,000  shares of common stock.  To the
end of September 2003, the Company has received $1,000,000 under the Equity Line
of Credit and in exchange for  25,508,380  shares of common  stock.  The Company
received an additional  advance of $125,000,  in exchange for 3,491,620  shares.
Except for the Equity Line of Credit,  the Company has no commitments for equity
capital although management  continues to explore other funding  alternatives in
an effort to broaden its capital sources.

     The  Company  anticipates  that its cash needs over the next 12 months will
consist of general working capital needs of $2,000,000,  which would include the
satisfaction of current liabilities of $1,691,394. As of September 30, 2003, the
Company had a working capital deficiency of $1,387,826.  The Company anticipates
that its  cash  needs  over  the  next 12  months  will  come  primarily  from a
combination  of  operating  credit  lines,  term loans,  which may or may not be
secured by assets, or contain  conversion  features which may lead to additional
shares being issued, or the sale of equity under the equity line of credit. Draw

                                       32
<PAGE>

downs on the equity line of credit may cause the share price to decline in value
unless  buyers are  present to take up the  supply of new  shares  entering  the
market.

     If the Company is unable to obtain  additional  funding  through our Equity
Line of Credit facility or from other sources of debt and equity  capital,  then
the failure to obtain this  funding will have a material  adverse  effect on our
business  and this may force us to  re-organize,  reduce our  investment  in, or
otherwise divest of one or more of our operations,  or to reduce the cost of all
operations to a lower level of expenditure which may have the effect of reducing
our expected revenues and potentially increasing our net loss in 2003 and 2004.


CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS

     The following chart sets forth IVP's contractual obligations and commercial
commitments  as of  September  30,  2003  and the time  frames  for  which  such
commitments and obligations come due.

<TABLE>
<CAPTION>
                                                                 PAYMENTS DUE BY PERIOD
                                          --------------------------------------------------------------
                                                                         TOTAL
                                          --------------------------------------------------------------
                                                            LESS THAN                                            AFTER
CONTRACTUAL OBLIGATIONS                     TOTAL            1 YEAR          1-3 YEARS         4-5 YEARS        5 YEARS
----------------------------------        ----------        ---------        ---------         ---------
<S>                                       <C>              <C>               <C>               <C>
Current Obligations                       $1,028,858       $1,028,858        $      --         $      --         $    --
Leases Payable                                30,616           22,013            8,603                --              --
Due to Related Parties                        97,637           97,637               --                --              --
Notes Payable                              1,042,886          542,886          375,000           125,000              --
                                           ---------          -------          -------           -------          -------

Total Contractual Cash Obligations        $2,199,997       $1,691,394        $ 383,603         $ 125,000         $    --
                                          ==========       ==========        =========         =========       =========

</TABLE>


CAPITAL RESOURCES

     Pursuant to the Equity Line of Credit,  the Company may  periodically  sell
shares of common stock to Cornell  Capital  Partners,  L.P. to raise  capital to
fund its  working  capital  needs.  The  periodic  sale of shares is known as an
advance. The Company may request an advance every 5 trading days. A closing will
be held 7 trading days after such written  notice at which time the Company will
deliver shares of common stock and Cornell Capital  Partners,  L.P. will pay the
advance amount,  less the 3% retention.  The Company may request  advances under
the Equity Line of Credit once the  underlying  shares are  registered  with the
Securities  and  Exchange  Commission.  Thereafter,  the Company may continue to
request  advances until Cornell  Capital  Partners has advanced $10.0 million or
two years after the  effective  date of the  registration  statement,  whichever
occurs  first.  The amount of each  advance is subject to an  aggregate  maximum
advance amount of $425,000 in any thirty-day  period. The amount available under
the Equity Line of Credit is not  dependent on the price or volume of our common
stock.

     The Company registered 30,000,000 shares of common stock in connection with
the Equity Line of Credit and upon  conversion  of the  debentures.  The Company
cannot  predict the actual  number of shares of common stock that will be issued
pursuant to the Equity Line of Credit,  in part,  because the purchase  price of
the shares will fluctuate based on prevailing  market conditions and the Company
has not  determined  the total amount of advances  the Company  intends to draw.
Nonetheless,  if the Company issued all  30,000,000  shares of common stock at a
recent price of $0.04 per share  (which  assumes that no shares would need to be
issued upon conversion of debentures), then the Company would receive $1,200,000
under the Equity  Line of Credit  (after  deducting  a 3%  retention  payable to
Cornell).  This is  $8,800,000  less than is available  under the Equity Line of
Credit.  The Company's  stock price would have to rise  substantially  for us to
have access to the full amount available under the Equity Line of Credit.  These
shares  would  represent  20% of our  outstanding  common  stock upon  issuance.
Accordingly,  the  Company  would need to register  additional  shares of common
stock in order to fully utilize the $10 million  available under the Equity Line
of Credit at the current  price of $0.04 per share.  At a recent  price of $0.04
per share, the Company would be required to issue  250,000,000  shares of common
stock in order to fully utilize the $10.0 million available.

CONSOLIDATED STATEMENT OF CASH FLOWS

     Cash  on  the  condensed  consolidated  balance  sheet  of  IVP  Technology
Corporation  increased from $63,162 at December 2002 to $65,066 on September 30,
2003.

                                       33
<PAGE>

NET CASH USED IN OPERATING ACTIVITIES

     Net cash used in operating  activities  was  $1,722,712 for the nine months
ended  September 30, 2003 and $1,044,490 for the nine months ended September 30,
2002.  Cash used in operating  activities  consisted  primarily of a net loss of
$937,033, a gain on sale of Ignition Entertainment of $2,396,009, an increase in
accounts receivable of $112,679, an increase in prepaid expenses of $150,669 and
a decrease in accrued liabilities of $172,929. These items were partially offset
by non-cash  charges of amortization of $564,198,  stock based  compensation and
fees of  $768,301,  a decrease in inventory of $304,783 and an increase in taxes
payable of $203,370.

NET CASH USED IN INVESTING ACTIVITIES

     Net cash used in investing  activities of $104,089 related primarily to the
purchase of software rights.

NET CASH PROVIDED BY FINANCING ACTIVITIES

     During the nine months ended  September  30, 2003,  the Company  raised net
cash of $1,890,052  from  financing  activities.  These  consisted  primarily of
proceeds from notes payable of $1,674,146,  related parties of $299,878, factors
of $116,503 and the issuance of stock of  $898,088.  These items were  partially
offset by the repayment of $1,073,089 of notes payable.

CRITICAL ACCOUNTING POLICIES

     ORGANIZATION

     The consolidated  financial statements of IVP Technology Corporation d.b.a.
ActiveCore   Technologies   (formally  Mountain  Chef,  Inc.)  and  consolidated
subsidiaries  (the  "Company")  include the  accounts of the parent,  ActiveCore
Corporation,  incorporated  in the State of Nevada on February 11, 1994, and its
subsidiaries:   Springboard   Technology  Solutions,   Inc.  d.b.a.   ActiveCore
Technologies  ("Springboard"),  a Canadian Company;  and Erebus Corporation,  an
inactive  Company.  The Company was granted an  extra-provincial  license by the
Province of Ontario on June 20,  1995 to carry on  business in Ontario,  Canada.
Prior to 1998,  the Company was involved  with various  unsuccessful  activities
relating to the sale of technology  products before becoming inactive by the end
of 1997. The Company began  negotiations with a third party in 1998 to become an
exclusive distributor of software and therefore is considered to have re-entered
the  development  stage  on  January  1,  1998.  Activities  from  inception  of
development  stage included  raising capital and negotiations and acquisition of
software distribution licenses. On January 1, 2002, the Company began operations
and emerged from the development stage.

     The Company  operates two units,  enterprise  and consumer.  The enterprise
unit develops,  markets,  licenses,  installs and services data  solutions.  The
consumer unit develops and publishes  interactive  software  games  designed for
mobile phones, other handheld devices,  web-sites,  personal computers and video
game  consoles.   The  consumer  unit  also  distributes  games,   hardware  and
accessories developed or manufactured by third parties.

     REVENUE RECOGNITION

     RISK AND UNCERTAINTIES

     A portion of the Company's  net sales are derived from software  publishing
and distribution activities, which are subject to increasing competition,  rapid
technological change and evolving consumer  preferences,  often resulting in the
frequent introduction of new products and short product lifecycles. Accordingly,
the  Company's  profitability  and growth  prospects  depend upon its ability to
continually acquire,  develop and market new,  commercially  successful software
products and obtain adequate financing.  If the Company is unable to continue to
acquire,  develop and market  commercially  successful  software  products,  its
operating results and financial condition could be materially adversely affected
in the near future.

     REVENUE RECOGNITION

     Publishing  revenue  is  derived  from  the  sale of  internally  developed
software  or from the sale of software  licensed  from  third-party  developers.
Publishing  revenue  amounted  to  $6,995  and  NIL for the  nine  months  ended
September 30, 2003 and 2002, respectively.  Distribution revenue is derived from
the sale of third-party  interactive software titles,  accessories and hardware.

                                       34
<PAGE>

Distribution revenue amounted to $109,761 and $200,000 for the nine months ended
September 30, 2003 and 2002, respectively.

     Revenues from  Services and  Commercial  Software sold under  licenses were
$239,020  and  $57,070 in the nine  months  ended  September  30, 2003 and 2002,
respectively.  The Company  recognizes  revenue in accordance  with Statement of
Position  ("SOP") 97-2 "Software  Revenue  Recognition",  as amended by SOP 98-9
"Modification of SOP 97-2 Software  Revenue  Recognition with respect to Certain
Transactions."  SOP  97-2  provides  guidance  on  applying  generally  accepted
accounting principles in recognizing revenue on software transactions.  SOP 98-9
deals with the determination of vendor specific  objective  evidence ("VSOE") of
fair value in multiple element arrangements, such as maintenance agreements sold
in  conjunction  with  software   packages.   The  Company's  consumer  software
transactions  generally include only one element,  the interactive software game
or commercial  software under license.  The Company  recognizes revenue when the
price is fixed and determinable; there is persuasive evidence of an arrangement,
the fulfillment of its obligations  under any such arrangement and determination
that collection is probable.  Accordingly,  revenue is recognized when title and
all risks of loss are  transferred  to the  customer,  which is  generally  upon
receipt by customer.  The  Company's  payment  arrangements  with its  customers
provide  primarily 30 day terms and to a limited extent with certain  customers,
60 day terms.  The Company  does not have any  multi-element  arrangements  that
would require it to establish  VSOE for each element,  nor does the Company have
any sales activity that requires the contract method of accounting.

     Revenue from product sales is recognized when title passes to the customer,
provided  that:  there  are  no  uncertainties  regarding  customer  acceptance;
persuasive  evidence  of an  arrangement  exists;  the  sales  price is fixed or
determinable;  and  collectability is deemed probable.  The Company provides for
estimated product returns at the time of the product shipment, if necessary.  In
December  1999,  the  Securities  and  Exchange  Commission  (SEC)  issued Staff
Accounting Bulletin (SAB) No. 101, Revenue Recognition in Financial  Statements,
which establishes guidance in applying generally accepted accounting  principles
to revenue  recognition in financial  statements and is effective beginning with
the  fourth  quarter  of the year ended  December  31,  2000.  The  Company  has
determined  that its  existing  revenue  recognition  practices  comply with the
requirements of SAB 101 for all periods presented.

     RECENT ACCOUNTING PRONOUNCEMENTS

     In  November  2002,  the  Emerging  Issues  Task Force  ("EITF")  reached a
consensus  on Issue  00-21,  addressing  how to account  for  arrangements  that
involve the delivery or  performance  of multiple  products,  services,  and /or
rights to use  assets.  Revenue  arrangements  with  multiple  deliverables  are
divided into separate units of accounting if the deliverables in the arrangement
meet the following criteria: (1) the delivered item has value to the customer on
a stand-alone  basis;  (2) there is objective and reliable  evidence of the fair
value  of  undelivered  items;  and (3)  delivery  of any  undelivered  items is
probable. Arrangement consideration should be allocated among the separate units
of accounting based on their relative fair values,  with the amount allocated to
the  delivered  item being  limited to the amount that is not  contingent on the
delivery of additional items or meeting other specified performance  conditions.
The final  consensus  will be applicable  to  agreements  entered into in fiscal
periods beginning after June 15, 2003 with early adoption permitted.

     In April 2003, the Financial  Accounting  Standards  Board ("FASB")  issued
Statement of Accounting  Standards ("SFAS") No. 149, "Amendment of Statement 133
on  Derivative  Instruments  and  Hedging  Activities".  SFAS No. 149 amends and
clarifies  financial  accounting  and  reporting  for  derivative   instruments,
including   certain   derivative   instruments   embedded  in  other   contracts
(collectively  referred to as derivatives) and for hedging activities under SFAS
No. 133,  "Accounting for Derivative  Instruments and Hedging  Activities".  The
changes in SFAS No. 149 improve financial  reporting by requiring that contracts
with comparable  characteristics  be accounted for similarly.  This statement is
effective for contracts  entered into or modified after June 30, 2003 and all of
its provisions should be applied prospectively.

     In May 2003, FASB issued SFAS No. 150,  "Accounting  For Certain  Financial
Instruments with  Characteristics of both Liabilities and Equity".  SFAS No. 150
changes the accounting for certain financial instruments with characteristics of
both liabilities and equity that, under previous  pronouncements,  issuers could
account for as equity.  The new  accounting  guidance  contained in SFAS No. 150
requires that those  instruments  be classified  as  liabilities  in the balance
sheet.

     SFAS  No.  150  affects  the  issuer's   accounting   for  three  types  of
freestanding financial  instruments.  One type is mandatorily redeemable shares,
which the issuing Company is obligated to buy back in exchange for cash or other
assets. A second type includes put options and forward purchase contracts, which
involves  instruments  that do or may require the issuer to buy back some of its
shares in exchange for cash or other assets.  The third type of instruments that
are  liabilities  under this Statement is  obligations  that can be settled with
shares,  the monetary value of which is fixed, tied solely or predominantly to a
variable  such as a market  index,  or  varies  inversely  with the value of the
issuers' shares. SFAS No. 150 does not apply to features embedded in a financial
instrument that is not a derivative in its entirety.

                                       35
<PAGE>

     Most of the  provisions of Statement 150 are  consistent  with the existing
definition  of  liabilities  in FASB  Concepts  Statement  No. 6,  "Elements  of
Financial Statements". The remaining provisions of this Statement are consistent
with the  FASB's  proposal  to  revise  that  definition  to  encompass  certain
obligations  that a  reporting  entity  can or must  settle by  issuing  its own
shares. This Statement shall be effective for financial instruments entered into
or modified after May 31, 2003 and otherwise shall be effective at the beginning
of  the  first  interim  period  beginning  after  June  15,  2003,  except  for
mandatorily redeemable financial instruments of a non-public entity, as to which
the effective date is for fiscal periods beginning after December 15, 2003.

     In January 2003, The FASB issued  Interpretation No. 46,  "Consolidation of
Variable Interest  Entities",  an interpretation of Accounting Research Bulletin
("ARB")  No. 51,  "Consolidated  Financial  Statements".  Interpretation  No. 46
addresses  consolidation by business  enterprises of variable interest entities,
which  have  one or  both  of the  following  characteristics:  (i)  the  equity
investment  at risk is not  sufficient  to  permit  the  entity to  finance  its
activities without additional  subordinated support from other parties, which is
provided  through  other  interest  that will absorb some or all of the expected
losses  of the  entity;  (ii)  the  equity  investors  lack  one or  more of the
following essential  characteristics of a controlling  financial  interest:  the
direct or  indirect  ability to make  decisions  about the  entities  activities
through  voting  rights or  similar  rights;  or the  obligation  to absorb  the
expected  losses of the entity if they occur,  which  makes it possible  for the
entity to finance its  activities;  the right to receive the  expected  residual
returns of the entity if they occur,  which is the  compensation for the risk of
absorbing the expected losses.

     Interpretation  No. 46 also requires  expanded  disclosures  by the primary
beneficiary (as defined) of a variable interest entity and by an enterprise that
holds a significant  variable  interest in a variable interest entity but is not
the primary  beneficiary.  Interpretation No. 46 applies immediately to variable
interest  entities  created  after  January 31, 2003,  and to variable  interest
entities in which an enterprise  obtains an interest after that date. It applies
in the first fiscal year or interim  period  beginning  after June 15, 2003,  to
variable interest entities in which an enterprise holds a variable interest that
it  acquired  before  February  1,  2003.  Interpretation  No. 46 may be applied
prospectively with a cumulative-effect  adjustment as of the date on which it is
first applied or by restating  previously issued financial statements for one or
more years with a cumulative-effect  adjustment as of the beginning of the first
year restated.

     In June 2003,  the FASB issued an Exposure Draft for proposed SFAS entitled
"Qualifying  Special  Purpose  Entities  ("QSPE") and  Isolation of  transferred
Assets", an amendment of SFAS No. 140 ("The Exposure Draft"). The Exposure Draft
is a proposal that is subject to change and as such,  is not yet  authoritative.
If the proposal is enacted in its current  form,  it will amend and clarify SFAS
140. The Exposure  Draft would prohibit an entity from being a QSPE if it enters
into an agreement that obliged a transferor of financial assets, its affiliates,
or its  agents  to  deliver  additional  cash or other  assets  to  fulfill  the
special-purposes entity's obligation to beneficial interest holders.

     The Company believes that the adoption of the above pronouncements will not
have  a  material  effect  on the  Company's  condensed  consolidated  financial
position or results of operations.

ITEM 3.  CONTROLS AND PROCEDURES

     Based on their evaluation of the  effectiveness of our disclosure  controls
and  procedures  as of the period  covered by this report,  our Chief  Executive
Officer and Chief Financial Officer have concluded that our disclosure  controls
and  procedures  are  effective for  gathering,  analyzing  and  disclosing  the
information  we  are  required  to  disclose  in our  reports  filed  under  the
Securities and Exchange Act of 1934. There have not been significant  changes in
our controls or in other factors that could significantly  affect these controls
subsequent to the evaluation date.

                                       36
<PAGE>


                           PART II - OTHER INFORMATION


ITEM 1.  LEGAL PROCEEDINGS

     None.


ITEM 2.  CHANGES IN SECURITIES

     The Company made the following  issuances of unregistered  securities since
January 1, 2003.

     On October 14, 2003 the Company issued  3,000,000 shares to Danson Partners
LLC in respect of consulting fees during the period March 1, 2002 to February 28
2003. The shares have been valued as at the date of issue.

     On September 30, 2003 the Company issued  10,200,000 shares with respect to
an  investment  transaction  for  financing  that  has  not yet  closed.  If the
financing does not close the shares will be rescinded.

     On  September  30,  2003  the  Company  entered  into a  contract  with  an
independent  advisor  to  consult  with the  Company  with  regard to  financing
activities  and general  corporate  development.  The Company  issued  1,000,000
shares. The shares were valued at $.029 per share,  representing the closing bid
price on the date of the board resolution. As of September 30, 2003, the Company
has deferred $26,583 included in deferred consulting expense on the accompanying
condensed consolidated balance sheet.

     On September 30, 2003,  the Company issued  6,472,942  shares in connection
with the acquisition of the data integration assets of SCI Healthcare Group. The
shares were valued at $.0309,  representing the closing price on September 18th,
being the contracted determination date.

     On September 30, 2003,  the Company  issued  300,000 shares to complete the
purchase of the XML  Connector  source code from Karora  Technologies  Inc.  The
shares were valued at $.028 per share, representing the closing bid price on the
date of the board resolution.

     On September  30, 2003,  the Company  issued  150,000  shares as bonuses to
employees  for  successful  completion  of certain  technology.  The shares were
valued at $.028 per share, representing the closing bid price on the date of the
board resolution.

     On August 5, 2003, the Company announced that it had acquired the rights to
build a cell phone game based on the "Zorro"  character and trademark from Zorro
Productions Inc. of California. A license agreement was entered into whereby the
Company  shall  pay  no  royalties  on  the  first  $50,000  of  net  sales  and
subsequently  the Company and the licensor  shall share equally a royalty of 50%
on net sales.  There shall be no minimum royalty.  The Company also entered into
an  agreement  with an  unrelated  Company  to source  additional  "name  brand"
properties  for cell phone game  production  and issued this  unrelated  Company
2,000,000  shares of common stock as a consulting  fee. These shares were issued
on August 1, 2003 and were valued at $0.025 per share,  representing the closing
bid price on the date of the board resolution.

     On July 31, 2003, the Company  announced  that its wholly owned  subsidiary
ActiveCore  Technologies  Limited had received the first installment of $500,000
of a planned  $2,000,000  term loan offering.  Under the terms of the agreement,
the first installment will accrue a 12% interest rate per annum and is repayable
over a  five-year  term with no  payments  required in the first 12 months - the
payments will be amortized  over the  remaining 48 months of the term loan.  The
loan is  convertible  into common stock of the Company at the rate of 4.5 shares
for every 1 dollar of the loan balance due, excluding interest, remaining at the
time of  conversion.  As  additional  consideration  for the loan advance by the
lender,  the Company issued 500,000  warrants on July 30, 2003 to the lender for
the purchase of 500,000  shares of common  stock at a purchase  price of $0.0312
per  share.  The fair  value  assigned  to the  warrant  amounted  to $0 and was
determined using the Black-Scholes pricing model. The Company estimates the fair
value of the warrant at the grant date by using the Black-Scholes option-pricing
model with the following  weighted  average  assumptions used for this grant; no
dividend yield for all years;  expected  volatility of 9.3%;  risk-free interest
rate of 1.12%,  and an expected  life of 1 year.  The  warrants  expire July 31,
2004.

                                       37
<PAGE>

     On July 14, 2003, the Company  entered into a consulting  agreement with an
unrelated  individual to provide  services through June 2004. On August 1, 2003,
the  Company  issued  4,000,000  shares of common  stock to this  consultant  as
compensation for services to be rendered.  These shares were valued at $.025 per
share,  representing  the  closing  market  value  on the date of  grant.  As of
September  30,  2003,  the Company  has  deferred  $75,000  included in deferred
consulting expense on the accompanying condensed consolidated balance sheet.

     On July 10,  2003,  the Company  entered into a Letter of Intent to acquire
the source code for a software  product  known as  XML/Connector  for the health
care  vertical  from an unrelated  Company which is a Colorado and Toronto based
software development  Company. As part of the terms and conditions,  the Company
is to pay (CAD)  $120,000  in cash in the form of a note  payable.  On August 1,
2003, the Company  issued 500,000 shares of common stock to the acquiree.  These
shares were valued at $.025 per share  representing  the closing market value on
the date of grant.

     In July 2003,  the Company  entered  into a  consulting  agreement  with an
unrelated  individual to provide  services through June 2004. On August 1, 2003,
the Company  issued  150,000  shares of common stock to this  consultant.  These
shares were valued at $.033 per share,  representing the closing market value on
the date of grant.  As of September  30, 2003,  the Company has deferred  $3,600
included  in  deferred   consulting   expense  on  the  accompanying   condensed
consolidated balance sheet.

     In July 2003,  the Company  entered  into  employment  agreements  with two
contractors  related to cell phone game  development,  and health care  services
respectively.  On August 1, 2003,  each  contractor was issued 500,000 shares of
common stock as compensation  in addition to ongoing salary costs.  These shares
were valued at $.025 per share,  representing  the closing  market  value on the
date of grant.

     In July 2003, the Company issued  1,562,700  unregistered  shares of common
stock  to an  officer  of the  Company  in  lieu of cash  in  order  to  satisfy
shareholder loans,  expenses paid on behalf of the Company and accrued expenses.
These  shares were valued at $.025 per share,  representing  the closing  market
value on the date of grant.

     During the nine month period ended  September 30, 2003,  the Company issued
25,508,380 shares of common stock to the Investment Bankers for cash of $788,089
in connection  with the Equity Line of Credit (See Note 6). The cash was applied
against the $1 million  promissory note payable to the Investment Bankers issued
in February  2003. As of September 30, 2003,  the remaining  balance of the note
payable to the Investment Banker totaled $226,911.

     On June 24, 2003, the Company issued  17,804,976  shares of common stock to
the  President  of the  Company in lieu of cash in order to satisfy  shareholder
loans,  expenses paid on behalf of the Company and accrued salaries  included in
the amounts due to related parties on the  accompanying  condensed  consolidated
balance sheets.  These shares were valued at $.025 per share, or an aggregate of
$445,124 representing the market value on the date of grant.

     On June 24, 2003, the Company issued  17,804,976  shares of common stock to
the Chief  Executive  Officer of the Company in lieu of cash in order to satisfy
shareholder  loans,  expenses paid on behalf of the Company and accrued salaries
included  in the amounts due to related  parties on the  accompanying  condensed
consolidated  balance sheets. These shares were valued at $.025 per share, or an
aggregate of $445,124 representing the market value on the date of grant.

     On June 24, 2003,  the Company issued  1,250,000  shares of common stock to
four employees of the Company for payment of accrued  compensation  and bonuses.
These  shares  were  valued at $.025  per  share,  or an  aggregate  of  $31,250
representing the market value on the date of grant.

     On June 24, 2003,  the Company issued  3,000,000  shares of common stock to
certain  directors of the Company for director services for the period from June
2003 to June 2004.  These shares were valued at $.025 per share, or an aggregate
of $75,000  representing  the market value on the date of grant. As of September
30,  2003,  the Company has  deferred  $61,476  included in total  stockholders'
deficiency  as  deferred  compensation  and  licensing  fee on the  accompanying
condensed consolidated balance sheets.

     On June 24, 2003,  the Company  issued 300,000 shares of common stock to an
unrelated  consultant  having a value of $7,500 for consulting  services.  These
shares were valued based upon the market value on the date of grant.

     On June 24, 2003, the Company issued 2,000,000 shares of common stock to an
unrelated  party in connection with an agreement to provide  investor  relations
services.  These  shares  were  valued at $.025 per share,  or an  aggregate  of
$50,000  representing the market value on the date of grant. As of September 30,
2003, the Company has deferred $8,334 included in deferred consulting expense on
the accompanying condensed consolidated balance sheet.

     On June 24, 2003, the Company issued 5,000,000 shares of common stock to an
unrelated  consultant as  consideration  for an agreement to provide  consulting
services  from June 2003 to June 2004.  These  shares  were  valued at $.025 per
share,  or an  aggregate of $125,000 on the date of grant.  As of September  30,
2003, the Company has deferred $83,333 included in deferred  consulting  expense
on the accompanying condensed consolidated balance sheet.

                                       38
<PAGE>

     On June 24, 2003, the Company issued  50,000,000  shares of common stock to
the former shareholders of Ignition  Entertainment,  Ltd. in accordance with the
original May 28, 2002 purchase  agreement.  The acquisition was made pursuant to
the Company  agreeing to issue  15,000,000  shares of common stock and 3,500,000
shares of preferred stock  convertible  into 35,000,000  shares of common stock;
collectively  valued  at  $0.23898  per  share  for a total  purchase  price  of
$11,949,155.  The issuance of these  50,000,000  shares of common stock relieved
$11,949,155 in preferred and common stock to be issued as of April 1, 2003. (See
Note 2, Discontinued  Operations for details on the acceleration of the issuance
of these shares and the sale agreement of Ignition Entertainment Ltd.)

     On June 24, 2003,  the Company issued  5,180,000  shares of common stock to
two  unrelated  parties to obtain  financing  for the Company.  Financing  costs
included  in  interest  expense for the nine  months  ended  September  30, 2003
totaled $129,500 representing the market value on the date of grant.

     On June 24, 2003,  the Company  issued  500,000 shares of common stock that
were  released from escrow to an  individual  for services  rendered from August
2002 to August  2003.  The Board of  Directors  resolved  that these  shares are
considered  earned as of June 24,  2003.  These  shares were valued at $.025 per
share, or an aggregate of $13,500  representing  the market value on the date of
grant.

     On May 28,  2003,  the Company  amended the  Articles of  Incorporation  to
increase  the  total  number  of  authorized   common  and  preferred  stock  to
500,000,000 and 50,000,000 shares, respectively.

     On April 23, 2003, the Company issued  3,491,620  shares of common stock to
the Investment Bankers for cash of $125,000 or $.036 per share.

     In 2002,  the Company issued  50,000,000  shares of common stock to various
officers and  directors  of the Company in  accordance  with the stock  purchase
agreement with International  Technology Marketing ("ITM"). All shares were held
in safekeeping pending the completion of an escrow agreement. As of December 31,
2002,  30,000,000 shares were earned and were released from escrow.  The Company
has accelerated the issuance of the final 20,000,000  shares from escrow.  These
20,000,000 shares were released from escrow as stock-based  compensation on June
30, 2003 and were valued at $.027,  or an  aggregate  of $540,000 on the date of
sale.

     On February 18, 2003,  the Company issued 168,889 shares of common stock to
the  Investment  Banker for payment of  penalties  for not  completing  the SB-2
filing  by the due date of July 2,  2002 per the  terms  of the  Equity  Line of
Credit Agreement. These shares were valued at $0.13 per share or an aggregate of
$21,956, representing the closing market value on the date of grant.

     On February 18, 2003, the Company issued 114,408 share of common stock to a
consultant for payment of $15,000 of consulting services accrued at December 31,
2002 as common  stock to be issued  included  in  currently  liabilities  in the
accompanying  consolidated  balance  sheet as of December 31, 2002.  These share
were valued at $0.13 per share representing the closing market value on the date
of grant.

     During March 2003, the Company issued  2,155,964  shares of common stock to
the  Investment  Bankers for cash of $150,000 or $.07 per share,  in  connection
with the Equity Line of Credit.

     With respect to the sale of unregistered  securities  referenced above, all
transactions  were exempt  from  registration  pursuant  to Section  4(2) of the
Securities Act of 1933 (the "1933 Act"), and Regulation D promulgated  under the
1933 Act. In each instance,  the purchaser had access to sufficient  information
regarding IVP  Technology so as to make an informed  investment  decision.  More
specifically,  IVP  Technology  had a  reasonable  basis to  believe  that  each
purchaser  was an  "accredited  investor" as defined in Regulation D of the 1933
Act and otherwise had the requisite  sophistication to make an investment in IVP
Technology's securities.


ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

     In February 2003, the Company received  $970,000 proceeds from the issuance
of a $1 million promissory note net of a 3% cash fee of $30,000,  The promissory
note was  non-interest  bearing  and was to be paid in full  within 95  calendar
days.  The  Company  has the  discretion  to repay the note either with the cash
received from the issuance of stock under an equity line of credit  agreement or
with cash received from operations or other financing sources.  The note was not
fully paid when due, and the outstanding principal balance owed at September 30,
2003 of $226,911 is payable in full  together with  interest.  The note has been
accruing  interest at the default  interest rate of 24% per annum or the highest
rate  permitted  by law,  if lower  since the due date.  The Company has accrued
$34,707 for interest at September 30, 2003.

     The Company has not  received a waiver of default  from the note holder nor
has the note holder demanded payment on the note.

                                       39
<PAGE>

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

     None.


ITEM 5.  OTHER INFORMATION

     Not applicable.


ITEM 6.  SUBSEQUENT EVENTS, EXHIBITS AND REPORTS ON FORM 8-K

         (a)      Exhibits.

<TABLE>
<S>               <C>                                                     <C>
2.1               Agreement and Plan of Reorganization dated March 21,    Incorporated by reference to Exhibit 4.1 to
                  2000 between IVP Technology Corporation and Erebus      IVP Technology's Form 8-K filed on April 19,
                  Corporation                                             2000

3.1               Certificate of Amendment of Articles of Incorporation   Incorporated by reference to Exhibit 3.1 to
                                                                          IVP Technology's Form 10-KSB filed on
                                                                          April 15, 2002

3.2               Bylaws                                                  Incorporated by reference to Exhibit 3.2 to
                                                                          IVP Technology's Amendment No. 2 to the Form
                                                                          SB-2 filed on November 14, 2002

3.3               Certificate of Amendment of Articles of Incorporation   Incorporated by reference to Exhibit 3.3 to
                                                                          IVP Technology's Form 10-QSB for the quarter
                                                                          ended June 30, 2003 filed on August 27, 2003

4.4               Description of Securities                               Incorporated by reference to Exhibit 4.4 to
                                                                          IVP Technology's Form S-8 filed on July 23,
                                                                          2001

10.4              Second Amending Agreement to Software Distribution      Incorporated by reference to Exhibit 10.4 to
                  Agreement dated as of May 31, 2000 between the          IVP Technology's Form 10-QSB filed on
                  Registrant and Orchestral Corporation                   September 24, 2000

10.5              Service Bureau Arrangement Agreement dated September    Incorporated by reference to Exhibit 10.5 to
                  28, 2000 between the Registrant and E-RESPONSES.COM     IVP Technology's Form 10-QSB filed on
                                                                          November 14, 2000

10.6              Stock Purchase Agreement dated September 17, 2001       Incorporated by reference to Exhibit 10.6 to
                  among the Registrant, International Technology          IVP Technology's Form 10-KSB filed on
                  Marketing, Inc., Brian MacDonald, Peter Hamilton,       April 15, 2002
                  Kevin Birch, Sherry Bullock, and Geno Villella

10.7              Agreement dated May 15, 2000 between the Registrant     Incorporated by reference to Exhibit 10.7 to
                  and Rainbow Investments International Limited           IVP Technology's Form 10-KSB filed on
                                                                          April 15, 2002

10.8              Employment Agreement dated August 30, 2001 between      Incorporated by reference to Exhibit 10.8 to
                  International Technology Marketing, Inc. and Brian J.   IVP Technology's Form 10-KSB filed on
                  MacDonald                                               April 15, 2002

10.9              Agreement dated February 12, 2002 between the           Incorporated by reference to Exhibit 10.9 to
                  Registrant and SmartFOCUS Limited                       IVP Technology's Form 10-KSB filed on
                                                                          April 15, 2002

                                                                 40
</TABLE>

<PAGE>

<TABLE>
<S>               <C>                                                     <C>
10.10             Warrant Agreement dated May 15, 2000 between the        Incorporated by reference to Exhibit 10.10 to
                  Registrant and Rainbow Investments International        IVP Technology's Form 10-KSB filed on
                  Limited                                                 April 15, 2002

10.11             Convertible Promissory Note dated May 2000 between      Incorporated by reference to Exhibit 10.11 to
                  the Registrant and Rainbow Investments International    IVP Technology's Form 10-KSB filed on
                  Limited                                                 April 15, 2002

10.12             Software Distribution Agreement dated December 28,      Incorporated by reference to Exhibit 10.12 to
                  2001 between the Registrant and TIG Acquisition         IVP Technology's Form 10-KSB filed on
                  Corporation                                             April 15, 2002

10.13             Loan Agreement dated January 16, 2002 between the       Incorporated by reference to Exhibit 10.13 to
                  Registrant and DCD Holdings Limited                     IVP Technology's Form 10-KSB filed on
                                                                          April 15, 2002

10.14             Agreement for the Provision of Marketing Services       Incorporated by reference to Exhibit 10.1 to
                  dated May 3, 2002 between the Registrant and Vanessa    IVP Technology's Form S-8 filed with the SEC
                  Land                                                    on May 3, 2002

10.15             Reserved

10.16             Employment Agreement dated August 30, 2001 between      Incorporated by reference to Exhibit 10.16 to
                  International Technology Marketing, Inc. and Geno       IVP Technology's Form 10-KSB filed on
                  Villella                                                April 15, 2002

10.17             Employment Agreement dated August 30, 2001 between      Incorporated by reference to Exhibit 10.17 to
                  International Technology Marketing, Inc. and Kevin      IVP Technology's Form 10-KSB filed on
                  Birch                                                   April 15, 2002

10.18             Employment Agreement dated August 30, 2001 between      Incorporated by reference to Exhibit 10.18 to
                  International Technology Marketing, Inc. and Peter J.   IVP Technology's Form 10-KSB filed on
                  Hamilton                                                April 15, 2002

10.19             Employment Agreement dated August 30, 2001 between      Incorporated by reference to Exhibit 10.19 to
                  International Technology Marketing, Inc. and Sherry     IVP Technology's Form 10-KSB filed on
                  Bullock                                                 April 15, 2002

10.20             Loan and Security Agreement dated July 30, 2001 among   Incorporated by reference to Exhibit 10.20 to
                  the Registrant, Clarino Investments International       IVP Technology's Form 10-KSB filed on
                  Ltd., and Berra Holdings Ltd.                           April 15, 2002

10.21             Consulting and Advisory Extension Agreement dated       Incorporated by reference to the Exhibit to
                  February 14, 2001 between the Registrant and Barry      IVP Technology's Form 10-QSB filed on May 21,
                  Gross D/B/A Gross Capital Associates                    2001

10.22             Letter Agreement dated June 28, 2001, between the       Incorporated by reference to Exhibit 4.1 to
                  Registrant and Andris Gravitis                          IVP Technology's Form S-8 filed on July 23,
                                                                          2001

10.23             Letter Agreement dated June 28, 2001, between the       Incorporated by reference to Exhibit 4.2 to
                  Registrant and Thomas Chown                             IVP Technology's Form S-8 filed on July 23,
                                                                          2001

10.24             Letter Agreement dated May 30, 2001, between the        Incorporated by reference to Exhibit 4.3 to
                  Registrant and Ruffa & Ruffa, P.C. for Modification     IVP Technology's Form S-8 filed on July 23,
                  of Retainer Agreement                                   2001

                                                                 41
</TABLE>

<PAGE>

<TABLE>
<S>               <C>                                                     <C>
10.25             Consulting Agreement dated September 1, 2000 between    Incorporated by reference to Exhibit 13.1 to
                  the Registrant and Barry Gross d/b/a Gross Capital      IVP Technology's Form 10-KSB filed on July 5,
                  Associates                                              2001

10.26             Consulting and Advisory Agreement dated September 25,   Incorporated by reference to Exhibit 13.2 to
                  2000 between the Registrant and Koplan Consulting       IVP Technology's Form 10-KSB filed on July 5,
                  Corporation                                             2001

10.27             Warrant Agreement dated April 3, 2002 between the       Incorporated by reference to Exhibit 10.27 to
                  Registrant and Cornell Capital Partners LP              IVP Technology's Form 10-KSB filed on
                                                                          April 15, 2002

10.28             Equity Line of Credit Agreement dated April 3, 2002     Incorporated by reference to Exhibit 10.28 to
                  between the Registrant and Cornell Capital Partners LP  IVP Technology's Form 10-KSB filed on
                                                                          April 15, 2002

10.29             Registration Rights Agreement dated April 3, 2002       Incorporated by reference to Exhibit 10.29 to
                  between the Registrant and Cornell Capital Partners,    IVP Technology's Form 10-KSB filed on
                  LP                                                      April 15, 2002

10.30             Escrow Agreement dated April 3, 2002 among the          Incorporated by reference to Exhibit 10.30 to
                  Registrant, Cornell Capital Partners, LP, Butler        IVP Technology's Form 10-KSB filed on
                  Gonzalez, and First Union National Bank                 April 15, 2002

10.31             Securities Purchase Agreement dated April 3, 2002       Incorporated by reference to Exhibit 10.31 to
                  among the Registrant and the Buyers                     IVP Technology's Form 10-KSB filed on
                                                                          April 15, 2002

10.32             Escrow Agreement dated April 3, 2002 among the          Incorporated by reference to Exhibit 10.32 to
                  Registrant, the Buyers, and First Union National Bank   IVP Technology's Form 10-KSB filed on
                                                                          April 15, 2002

10.33             Debenture Agreement Dated April 3, 2002 between the     Incorporated by reference to Exhibit 10.33 to
                  Registrant and Cornell Capital Partners LP              IVP Technology's Form 10-KSB filed on
                                                                          April 15, 2002

10.34             Investor Registration Rights Agreement dated April 3,   Incorporated by reference to Exhibit 10.34 to
                  2002 between the Registrant and the Investors           IVP Technology's Form 10-KSB filed on
                                                                          April 15, 2002

10.35             Placement Agent Agreement dated April 3, 2002 among     Incorporated by reference to Exhibit 10.35 to
                  the Registrant, Westrock Advisors, Inc. and Cornell     IVP Technology's Form 10-KSB filed on
                  Capital Partners LP                                     April 15, 2002

10.36             Letter Agreement dated February 20, 2002 between the    Incorporated by reference to Exhibit 10.36 to
                  Registrant and Buford Industries Inc.                   IVP Technology's Form 10-KSB filed on
                                                                          April 15, 2002

10.37             Letter Confirmation Agreement dated July 21, 2001       Incorporated by reference to Exhibit 10.37 to
                  between the Registrant and Buford Industries Inc.       IVP Technology's Form 10-KSB filed on
                                                                          April 15, 2002

10.38             Consulting Agreement dated March 1, 2002 between the    Incorporated by reference to Exhibit 10.38 to
                  Registrant and Danson Partners LLC                      IVP Technology's Form 10-KSB filed on
                                                                          April 15, 2002

                                                                 42
</TABLE>

<PAGE>

<TABLE>
<S>               <C>                                                     <C>

10.39             Term Sheet between the Registrant and Cornell Capital   Incorporated by reference to Exhibit 10.39 to
                  Partners, LP Increasing the Commitment under the        IVP Technology's Form SB-2 filed on May 15,
                  Equity Line of Credit to $10 million                    2002

10.40             Consulting Agreement dated February 12, 2002 between    Incorporated by reference to Exhibit 10.40 to
                  the Registrant and Danson Partners LLC                  IVP Technology's Form SB-2 filed on May 15,
                                                                          2002

10.41             Escrow Agreement dated as of May 15, 2002 among the     Incorporated by reference to Exhibit 10.41 to
                  Registrant, Brian MacDonald, Peter Hamilton, Kevin      IVP Technology's Form SB-2 filed on May 15,
                  Birch, Sherry Bullock, and Gino Villella                2002

10.42             Termination letter dated June 13, 2002 between the      Incorporated by reference to Exhibit 10.42 to
                  Registrant and Orchestral Corporation                   IVP Technology's Form 10-QSB filed on August
                                                                          19, 2002

10.43             Acquisition Agreement dated as of May 28, 2002          Incorporated by reference to Exhibit 10.43 to
                  regarding the purchase of Ignition Entertainment        IVP Technology's Form 10-QSB filed on August
                                                                          19, 2002

10.44             Consulting Agreement dated as of June 1, 2002           Incorporated by reference to Exhibit 10.44 to
                  Ignition Entertainment Limited and Montpelier Limited   IVP Technology's Form 10-QSB filed on August
                                                                          19, 2002

10.45             Amendment to Equity Line of Credit Agreement dated      Incorporated by reference to Exhibit 10.45 to
                  May 2002 between IVP Technology and Cornell Capital     IVP Technology's Amendment No. 2 to the Form
                  Partners                                                SB-2 filed on November 14, 2002

10.46             Letter of Credit Facility dated as of April 10, 2002    Incorporated by reference to Exhibit 10.46 to
                  between Revelate Limited and Ignition Entertainment     IVP Technology's Amendment No. 2 to the Form
                  Limited                                                 SB-2 filed on November 14, 2002

10.47             Debenture dated as of June 14, 2002 between Revelate    Incorporated by reference to Exhibit 10.47 to
                  Limited and Ignition Entertainment Limited              IVP Technology's Amendment No. 2 to the Form
                                                                          SB-2 filed on November 14, 2002

10.48             Standard Conditions for Purchase of Debts dated May     Incorporated by reference to Exhibit 10.48 to
                  23, 2002 between DCD Factors PLC and Ignition           IVP Technology's Amendment No. 2 to the Form
                  Entertainment Limited                                   SB-2 filed on November 14, 2002

10.49             All Assets Debenture dated as of May 23, 2002 between   Incorporated by reference to Exhibit 10.49 to
                  DCD Factors PLC and Ignition Entertainment Limited      IVP Technology's Amendment No. 2 to the Form
                                                                          SB-2 filed on November 14, 2002

10.50             Memorandum of Agreement dated as of July 1, 2002        Incorporated by reference to Exhibit 10.50 to
                  between Springboard Technology Solutions Inc. and IVP   IVP Technology's Amendment No. 2 to the Form
                  Technology                                              SB-2 filed on November 14, 2002

10.51             Heads of Agreement dated as of December 28, 2001 and    Incorporated by reference to Exhibit 10.51 to
                  amended on September 30, 2002 between TiG Acquisition   IVP Technology's Amendment No. 2 to the Form
                  Corporation and IVP Technology                          SB-2 filed on November 14, 2002

10.52             MDI Solutions Services Agreement (Interface             Incorporated by reference to Exhibit 10.1 to
                  Development Retainer Services) between Medical Data     IVP Technology's Form 8-K filed with the SEC
                  Integration Solutions group and Mount Sinai Hospital    on April 1, 2003
                  entered into March 11, 2003 (Contract No. MDI02008)

                                                                 43
</TABLE>

<PAGE>

<TABLE>
<S>               <C>                                                     <C>
10.53             MDI Solutions Services Agreement (Interface             Incorporated by reference to Exhibit 10.2 to
                  Development Retainer Services) between Medical Data     IVP Technology's Form 8-K filed with the SEC
                  Integration Solutions group and Mount Sinai Hospital    on April 1, 2003
                  entered into March 11, 2003 (Contract No. MDI02009)

10.54             MDI Solutions Services Agreement (Interface             Incorporated by reference to Exhibit 10.3 to
                  Development Retainer Services) between Medical Data     IVP Technology's Form 8-K filed with the SEC
                  Integration Solutions group and Rouge Valley Health     on April 1, 2003
                  System entered into September 12, 2002 (Contract No.
                  MDI02003)

10.55             MDI Solutions Services Agreement (Interface             Incorporated by reference to Exhibit 10.4 to
                  Development Retainer Services) between Medical Data     IVP Technology's Form 8-K filed with the SEC
                  Integration Solutions group and Rouge Valley Health     on April 1, 2003
                  System entered into September 12, 2002 (Contract No.
                  MDI02004)

10.56             MDI Solutions Services Agreement (Interface             Incorporated by reference to Exhibit 10.5 to
                  Development Retainer Services) between Medical Data     IVP Technology's Form 8-K filed with the SEC
                  Integration Solutions group and York Central Hospital   on April 1, 2003
                  entered into September 13, 2002 (Contract No.
                  MDI02006)

10.57             MDI Solutions Services Agreement (Interface             Incorporated by reference to Exhibit 10.6 to
                  Development Retainer Services) between Medical Data     IVP Technology's Form 8-K filed with the SEC
                  Integration Solutions group and York Central Hospital   on April 1, 2003
                  entered into September 13, 2002 (Contract No.
                  MDI02007)

10.58             MDI Solutions Services Agreement (Interface             Incorporated by reference to Exhibit 10.7 to
                  Development Retainer Services) between Medical Data     IVP Technology's Form 8-K filed with the SEC
                  Integration Solutions group and St. Joseph's Medical    on April 1, 2003
                  Centre entered into March 18, 2003 (Contract No.
                  MDI03001)

10.59             MDI Solutions Services Agreement (Interface             Incorporated by reference to Exhibit 10.8 to
                  Development Retainer Services) between Medical Data     IVP Technology's Form 8-K filed with the SEC
                  Integration Solutions group and St. Joseph's Medical    on April 1, 2003
                  Centre entered into March 18, 2003 (Contract No.
                  MDI03002-Expires March 31, 2004)

10.60             MDI Solutions Services Agreement (Interface             Incorporated by reference to Exhibit 10.9 to
                  Development Retainer Services) between Medical Data     IVP Technology's Form 8-K filed with the SEC
                  Integration Solutions group and St. Joseph's Medical    on April 1, 2003
                  Centre entered into March 18, 2003 (Contract No.
                  MDI03002-Expires June 11, 2004)

10.61             Ignition Agreement                                      Incorporated by reference to Exhibit 3.3 to
                                                                          IVP Technology's Form 10-QSB for the quarter
                                                                          ended June 30, 2003 filed on August 27, 2003

10.62             Developer and Distribution Agreement dated as of        Incorporated by reference to Exhibit 10.1 to
                  February 10, 2003 between the Company and Tira          the Company's Form 8-K filed with the SEC on
                  Wireless, Inc.                                          February 27, 2003.

                                                                 44
</TABLE>

<PAGE>

<TABLE>
<S>               <C>                                                     <C>

10.63             Letter of Intent dated as of July 10, 2003 between      Incorporated by reference to Exhibit 3.3 to
                  the Company and Karora                                  IVP Technology's Form 10-QSB for the quarter
                                                                          ended June 30, 2003 filed on August 27, 2003

10.64             Promissory Note dated as of July 30, 2003               Incorporated by reference to Exhibit 3.3 to
                                                                          IVP Technology's Form 10-QSB for the quarter
                                                                          ended June 30, 2003 filed on August 27, 2003

10.65             Warrant Certificate dated as of July 30, 2003           Incorporated by reference to Exhibit 3.3 to
                                                                          IVP Technology's Form 10-QSB for the quarter
                                                                          ended June 30, 2003 filed on August 27, 2003

10.66             Conversion Privilege of Lender                          Incorporated by reference to Exhibit 3.3 to
                                                                          IVP Technology's Form 10-QSB for the quarter
                                                                          ended June 30, 2003 filed on August 27, 2003

10.67             General Security Agreement dated as of July 30, 2003    Incorporated by reference to Exhibit 3.3 to
                                                                          IVP Technology's Form 10-QSB for the quarter
                                                                          ended June 30, 2003 filed on August 27, 2003

10.68             Guarantee Agreement dated as of July 30, 2003           Incorporated by reference to Exhibit 3.3 to
                                                                          IVP Technology's Form 10-QSB for the quarter
                                                                          ended June 30, 2003 filed on August 27, 2003

10.69             Consulting Agreement dated as of June 3, 2003 between   Incorporated by reference to Exhibit 3.3 to
                  the Company and Rodger J. Cowan                         IVP Technology's Form 10-QSB for the quarter
                                                                          ended June 30, 2003 filed on August 27, 2003

10.70             Agreement dated as of May 1, 2003 between the Company   Incorporated by reference to Exhibit 3.3 to
                  and Hawk Associates, Inc.                               IVP Technology's Form 10-QSB for the quarter
                                                                          ended June 30, 2003 filed on August 27, 2003

10.71             Letter of Intent dated as of June 16, 2003 between      Incorporated by reference to Exhibit 3.3 to
                  the Company and ePocket Inc.                            IVP Technology's Form 10-QSB for the quarter
                                                                          ended June 30, 2003 filed on August 27, 2003

10.72             Consulting Agreement dated as of July 14, 2003          Incorporated by reference to Exhibit 3.3 to
                  between the Company and Gerald Campbell                 IVP Technology's Form 10-QSB for the quarter
                                                                          ended June 30, 2003 filed on August 27, 2003

10.73             Letter of Intent dated as of June 16, 2003 between      Incorporated by reference to Exhibit 3.3 to
                  the Company and SCI Healthcare Group, Inc.              IVP Technology's Form 10-QSB for the quarter
                                                                          ended June 30, 2003 filed on August 27, 2003

                                                                 45
</TABLE>

<PAGE>

<TABLE>
<S>               <C>                                                     <C>


10.74             Merchandising License Agreement dated as of July 21,    Incorporated by reference to Exhibit 3.3 to
                  2003 between the Company and Zorro Productions, Inc.    IVP Technology's Form 10-QSB for the quarter
                                                                          ended June 30, 2003 filed on August 27, 2003

10.75             Letter of Intent dated November 10, 2003                Incorporated by reference to Exhibit 10.75 to
                  by and between Activecore Technologies,                 IVP Technology's Form 10-QSB for the quarter
                  Inc. and Genetic Diagnostics                            ended September 30, 2003 filed on November 19,
                                                                          2003

10.76             Letter Agreement dated November 12, 2003                Incorporated by reference to Exhibit 10.76 to
                  by and between Panfin Equity Corp. and                  IVP Technology's Form 10-QSB for the quarter
                  Activecore Technologies, Inc.                           ended September 30, 2003 filed on November 19,
                                                                          2003
31.1              Certification of CEO re: 302                            Provided herewith

31.2              Certification of CFO re: 302                            Provided herewith

32.1              Certification of CEO re: 906                            Provided herewith

32.2              Certification of CFO re: 906                            Provided herewith

</TABLE>

     (b)   REPORTS ON FORM 8-K.

     On August 6, 2003, IVP Technology d/b/a ActiveCore  Technologies  announced
that it signed a letter of intent with E Communities UK Limited for placement of
mobile  games  and ring  tones  sales  channel  operated  by  ActiveCore  on 124
community portals in the United Kingdom operated by Touch Plc.

     On  September  19,  2003,  IVP  Technology  doing  business  as  ActiveCore
Technologies  acquired the Integration Services Division of SCI Healthcare for a
combination of shares of common stock and cash.



                                       46
<PAGE>



                                   SIGNATURES

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

REGISTRANT:

IVP TECHNOLOGY CORPORATION

/s/ BRIAN MACDONALD                                   December 5, 2003
----------------------------------------------
By:   Brian MacDonald
      President and Chief Executive Officer




                                       47
<PAGE>


                                  EXHIBIT 31.1


                              OFFICER'S CERTIFICATE
                             PURSUANT TO SECTION 302

     I, Brian MacDonald, certify that:

     1. I have  reviewed  this form  10-QSB/A for the nine months  September 30,
2003 of IVP Technology Corporation;

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

     3.  Based on my knowledge,  the financial  statements,  and other financial
information included in this report, fairly present in all material respects the
financial condition,  results of operations and cash flows of the small business
issuer as of,  and for,  the  periods  presented  in this  report;

     4.  The small  business  issuer's  other  certifying  officer(s)  and I are
responsible for establishing and maintaining  disclosure controls and procedures
(as  defined in  Exchange  Act Rules  13a-15(e)  and  15d-15  (e)) for the small
business issuer and have:

          (a) Designed such disclosure  controls and procedures,  or caused such
disclosure  controls and  procedures to be designed  under our  supervision,  to
ensure  that  material  information  relating  to  the  small  business  issuer,
including its  consolidated  subsidiaries,  is made known to us by others within
those  entities,  particularly  during the period in which this  report is being
prepared;

          (b) Omitted;

          (c)  Evaluated  the  effectiveness  of  the  small  business  issuer's
disclosure  controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the end
of the period covered by this report based on such evaluation; and

          (d) Disclosed in this report any change in the small business issuer's
internal  control  over  financial  reporting  that  occurred  during  the small
business issuer's most recent fiscal quarter (the small business issuer's fourth
fiscal quarter in the case of an annual report) that has materially affected, or
is reasonably likely to materially  affect, the small business issuer's internal
control over  financial  reporting; and

     5. The small  business  issuer's  other  certifying  officer(s)  and I have
disclosed,  based  on our  most  recent  evaluation  of  internal  control  over
financial  reporting,  to the small  business  issuer's  auditors  and the audit
committee  of the  small  business  issuer's  board  of  directors  (or  persons
performing the equivalent functions):

          (a) All significant deficiencies and material weaknesses in the design
or operation of internal  control over financial  reporting which are reasonably
likely to  adversely  affect  the small  business  issuer's  ability  to record,
process, summarize and report financial information; and

          (b) Any fraud,  whether or not material,  that involves  management or
other  employees  who have a  significant  role in the small  business  issuer's
internal control over financial reporting.

                                Date: December 5, 2003
                                By:   /s/ Brian MacDonald
                                      -------------------------------------
                                      Brian MacDonald
                                      President and Chief Executive Officer


The introductory paragraph of Section 4 of this certification that refers to the
certifying  officers'  responsibility for establishing and maintaining  internal
control over  financial  reporting for the Company,  as well as paragraph  4(b),
have been omitted in accordance  with Release No. 33-8238 (June 5, 2003) because
the  compliance  period has been extended for small  business  issuers until the
first fiscal year ending on or after April 15, 2005.


                                EXHIBIT 31.2 - 1
<PAGE>
                                  EXHIBIT 31.2

                              OFFICER'S CERTIFICATE
                             PURSUANT TO SECTION 302

     I, Graham Lowman, certify that:

     1. I have  reviewed  this form  10-QSB/A for the nine months  September 30,
2003 of IVP Technology Corporation;

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

     3. Based on my knowledge,  the financial  statements,  and other  financial
information included in this report, fairly present in all material respects the
financial condition,  results of operations and cash flows of the small business
issuer as of,  and for,  the  periods  presented  in this  report;

     4. The  small  business  issuer's  other  certifying  officer(s)  and I are
responsible for establishing and maintaining  disclosure controls and procedures
(as  defined in  Exchange  Act Rules  13a-15(e)  and  15d-15  (e)) for the small
business issuer and have:

          (a) Designed such disclosure  controls and procedures,  or caused such
disclosure  controls and  procedures to be designed  under our  supervision,  to
ensure  that  material  information  relating  to  the  small  business  issuer,
including its  consolidated  subsidiaries,  is made known to us by others within
those  entities,  particularly  during the period in which this  report is being
prepared;

          (b) Omitted;

          (c)  Evaluated  the  effectiveness  of  the  small  business  issuer's
disclosure  controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the end
of the period covered by this report based on such evaluation; and

          (d) Disclosed in this report any change in the small business issuer's
internal  control  over  financial  reporting  that  occurred  during  the small
business issuer's most recent fiscal quarter (the small business issuer's fourth
fiscal quarter in the case of an annual report) that has materially affected, or
is reasonably likely to materially  affect, the small business issuer's internal
control over financial reporting; and

     5. The small  business  issuer's  other  certifying  officer(s)  and I have
disclosed,  based  on our  most  recent  evaluation  of  internal  control  over
financial  reporting,  to the small  business  issuer's  auditors  and the audit
committee  of the  small  business  issuer's  board  of  directors  (or  persons
performing the equivalent functions):

          (a) All significant deficiencies and material weaknesses in the design
or operation of internal  control over financial  reporting which are reasonably
likely to  adversely  affect  the small  business  issuer's  ability  to record,
process, summarize and report financial information; and

          (b) Any fraud,  whether or not material,  that involves  management or
other  employees  who have a  significant  role in the small  business  issuer's
internal  control  over  financial  reporting.  Date:  November 17, 2003 By: /s/
Graham Lowman Graham Lowman Chief Financial Officer

                                        Date:  December 5, 2003
                                        By:    /s/ Graham Lowman
                                               -------------------------------
                                               Graham Lowman
                                               Chief Financial Officer

The introductory paragraph of Section 4 of this certification that refers to the
certifying officers' responsibility for establishing and maintaining internal
control over financial reporting for the Company, as well as paragraph 4(b),
have been omitted in accordance with Release No. 33-8238 (June 5, 2003) because
the compliance period has been extended for small business issuers until the
first fiscal year ending on or after April 15, 2005.


                                EXHIBIT 31.2 - 1
<PAGE>


                                  EXHIBIT 32.1

                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


     In connection with the Quarterly Report of IVP Technology  Corporation (the
"Company")  on Form  10-QSB/A for the period ended  September  30, 2003 as filed
with the Securities and Exchange  Commission on the date hereof (the  "Report"),
each of the  undersigned,  in the capacities and on the dates  indicated  below,
hereby  certifies  pursuant to 18 U.S.C.  Section 1350,  as adopted  pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:

     1. The Report fully  complies  with the  requirements  of Section  13(a) or
15(d) of the Securities Exchange Act of 1934; and

     2. The information contained in the Report fairly presents, in all material
respects, the financial condition and results of operation of the Company.

Date:  December 5, 2003           By:  /s/ Brian MacDonald
                                       -----------------------------------------
                                           Brian MacDonald,
                                           President and Chief Executive Officer


A signed  original of this written  statement  required by Section 906, or other
document  authentications,  acknowledging,  or otherwise  adopting the signature
that  appears  in typed  form  within the  electronic  version  of this  written
statement  required by Section 906, has been provided to Celerity Systems,  Inc.
and will be retained by Celerity  Systems,  Inc. and furnished to the Securities
and Exchange Commission or its staff upon request.


                                EXHIBIT 31.2 - 2
<PAGE>

                                  EXHIBIT 32.2

                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


     In connection with the Quarterly Report of IVP Technology  Corporation (the
"Company")  on Form  10-QSB/A for the period ended  September  30, 2003 as filed
with the Securities and Exchange  Commission on the date hereof (the  "Report"),
each of the  undersigned,  in the capacities and on the dates  indicated  below,
hereby  certifies  pursuant to 18 U.S.C.  Section 1350,  as adopted  pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:

     1.  The Report fully  complies with the  requirements  of Section  13(a) or
15(d) of the Securities Exchange Act of 1934; and

     2. The information contained in the Report fairly presents, in all material
respects, the financial condition and results of operation of the Company.

Date: December 5, 2003           By: /s/ Graham Lowman
                                     ---------------------------------
                                         Graham Lowman,
                                         Chief Financial Officer


A signed  original of this written  statement  required by Section 906, or other
document  authentications,  acknowledging,  or otherwise  adopting the signature
that  appears  in typed  form  within the  electronic  version  of this  written
statement  required by Section 906, has been provided to Celerity Systems,  Inc.
and will be retained by Celerity  Systems,  Inc. and furnished to the Securities
and Exchange Commission or its staff upon request.


                                EXHIBIT 31.2 - 3