SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-KSB

[X]      Annual Report Pursuant to Section 13 or 15(d) of the Securities
         Exchange Act of 1934 for the fiscal year ended June 30, 2003

[_]      Transition Report under Section 13 of 15(d) of the Securities Exchange
         Act of 1934

         For the transition period from ___________ to ___________

                       Commission file number 33-55254-10

                               GOURMET GROUP, INC.

                 (Name of small business issuer in its charter)



         Nevada                                          87-0438825
(State or other jurisdiction of                    (I.R.S. Employer
incorporation or organization)                       Identification No.)


       241 Fifth Avenue, Suite 302, New York, NY            10016
        (Address of principal executive offices)         (Zip code)

         Issuer's telephone number, including area code: (212) 686-1511

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

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

         Check whether the issuer (1) has filed all reports required to be filed
by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for
such shorter period that the registrant was required to file such reports), and
(2) has been subject to such filing requirements for the past 90 days.
Yes [X] No [ ]

         Check if there is no disclosure of delinquent filers in response to
Item 405 of Regulation S-B is not contained in this form, and no disclosure will
be contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10-KSB. [X]

         There were no revenues for the issuer's fiscal year ended June 30,
2003.

         State the aggregate market value of the voting and non-voting common
equity held by non-affiliates computed by reference to the price at which the
common equity was sold, as of a specified date within the last 60 days. On
September 22, 2003: $0 based on the close of the Company's common stock
on September 22, 2003 at $.00 per share.

         State the number of shares  outstanding of each of the issuer's classes
of common equity, as of the latest  practicable date. Gourmet Group, Inc. had
35,702,993 shares of common  stock  outstanding as of September 22, 2003.

Transitional Small Business Disclosure Format (check one):  Yes [ ]    No   [X]


<PAGE>

                                     PART I

ITEM 1. DESCRIPTION OF BUSINESS.

OVERVIEW

Gourmet Group, Inc. ("Gourmet Group" ) is a dormant holding company holding with
a dormant subsidiary, World Seair Corporation (together, the Company). In May,
2002, Gourmet Group sold its operating subsidiary, Our Food Products Group, Inc,
d/b/a Jardine Foods ("Jardine Foods"), a specialty food manufacturer and
marketer. The Company currently has no operations, and has been working to
acquire an operating business through purchase or merger.

HISTORY  AND PROSPECTS

Gourmet Group was incorporated in the state of Nevada on July 9, 1986 under the
original name of Vicuna, Inc (Vicuna). Vicuna was organized to raise capital and
then seek out, investigate and acquire any suitable asset, property or other
business potential. In connection with an Agreement and Plan of Reorganization
dated May 22, 1998, Vicuna acquired World Seair Corporation, a private Florida
corporation incorporated in June 1997. As a part of the acquisition of World
Seair Corporation, Vicuna amended its Articles of Incorporation to provide for a
name change to Seair Group, Inc. (Seair) on May 26, 1998.

On September 28, 2000, Seair entered into an Agreement and Plan of Share
Exchange with Jardine Foods, a privately-held Texas corporation. Pursuant to the
agreement, Seair acquired 7,984,194 shares of Jardine Foods Class B Common
Stock, which constituted all of the outstanding capital stock of Jardine Foods,
in exchange for issuing a total of 25,089,723 restricted shares of Seair's
common stock, $0.001 par value. As a part of the acquisition of Jardine Foods,
Seair amended its Articles of Incorporation to provide for a name change to
Gourmet Group in September 2000.

Jardine Foods was formed on May 18, 1998, for the purpose of acquiring the
assets of Amigos First Partners, LP (Amigos), which was the company that had
previously operated the business described in the Overview above. On October 13,
1998, Jardine Foods acquired the assets and assumed substantially all of the
liabilities of Best of the West, Inc., and Simple Times, Inc. (collectively
referred to as Best of the West). Jardine Foods accounted for the acquisitions
of Amigos and Best of the West under the purchase method of accounting, and
recorded a combined purchase price of approximately $6.3 million.

On September 28, 2000, all of the outstanding stock of Jardine Foods was
acquired by Gourmet Group, in exchange for 3.142424 shares of Gourmet Group
common stock for each share of Jardine Foods common stock. Immediately prior to
this acquisition, each outstanding share of Jardine Foods preferred stock was
automatically converted to approximately 1.45 shares of Jardine Foods common
stock. In addition, outstanding options to purchase common stock of Jardine
Foods were exchanged for options to purchase Gourmet Group common stock based on
the exchange ratio discussed above. The acquisition was accounted for as a
recapitalization of Jardine Foods for


                                       2
<PAGE>



financial reporting purposes, and, therefore, Jardine Foods was considered the
predecessor company.

Jardine Foods secured a $2 million line of credit and two notes payable
(together, the "First Lien") with a commercial lender, and a $1.75 million
subordinated note payable to a finance company (the " Finance Company"). The
First Lien was secured by all tangible and intangible assets of Jardine Foods.
The Finance Company had (i) a subordinated lien on Jardine Foods' assets, and
(ii) a collateral pledge of 7,984,194 shares of common stock of Jardine Foods
(the "Stock") owned by Gourmet Group, constituting all of the issued and
outstanding stock of Jardine Foods. The First Lien and the subordinated note
required the maintenance of certain financial ratios and other financial
covenants. The Company was not in compliance with certain of the financial
ratios as of March 31, 2002, and was not able to obtain waivers from the
lenders. The Company received letters of acceleration from the commercial lender
holding the First Lien as well as from the Finance Company, declaring the First
Lien and the subordinated note to be immediately due and payable.

Arising out of the negotiations and efforts to resolve the debt acceleration, on
April 12, 2002, a nominee of the Finance Company entered into an option
agreement (the "Option") to purchase the Stock (or assets) of Jardine Foods from
Gourmet Group.

On May 28, 2002, the Finance Company exercised the Option to purchase the Stock
for agreed considerations. Any remaining disputes between the Company and the
Finance Company were settled on October 15, 2002 after litigation and
arbitration. The specific terms and conditions of the settlement agreement
between the parties are the subject of a mutual confidentiality agreement.

Subsequent Events
------------------

Since selling Jardine Foods and settling with the Finance Company, the Company
has pursued the acquisition (or other combination) of various operating
businesses. On August 27, 2003, the Company executed a Memorandum of
Understanding (the "MOU") for a share exchange with a regional real estate
developer, owner, and operator based in The People's Republic of China (the
"Chinese Company"). Pursuant to the MOU, at closing, the shareholders of the
Chinese Company will own approximately 90% of the issued and outstanding capital
stock of Gourmet Group. The MOU contemplates the execution of definitive
contracts by October 31, 2003, and a closing by November 28, 2003. However, the
MOU is non-binding and there can be no assurance that the share exchange with
the Chinese Company will occur.


CURRENT EMPLOYEES

The Company currently has no full-time employees, but the officers and directors
continue to expend time and effort to identify, negotiate, and pursue the
acquisition of, or merger with, an operating business.

ITEM 2. DESCRIPTION OF PROPERTY.

The Company currently owns no property.

ITEM 3. LEGAL PROCEEDINGS.

There are no material existing or pending legal proceedings to which the Company
is a party.

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

Not applicable.


                                       3
<PAGE>


                                     PART II

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

The Company's common stock is traded on the NASD OTC Bulletin Board under the
trading symbol "GOUG." The following table sets forth, for the periods
indicated, the range of the high and low bid quotations (as reported by NASD).
The bid quotations set forth below reflect inter-dealer prices, without retail
mark-up, mark-down or commission and may not reflect actual transactions:



Period                                             Low          High
-------                                           ----        ------


Fiscal Year Ended June 30, 2003
--------------------------------
January 1, 2003 through March 31, 2003           $0.00           $0.00
Apri1, 1, 2003  June 30, 2003                    $0.00           $0.01
July 1, 2003 through September 22, 2003          $0.00           $0.02



As  of  September 22, 2003, there are approximately 482 holders of record of the
Company's  common  stock  for  a  total  of  35,702,993  shares  of common stock
outstanding.

We have never declared or paid cash dividends on our common stock. We intend to
retain any future earnings for use in the operation of our business and do not
anticipate paying any cash dividends on our common stock in the foreseeable
future.

RECENT SALES OF UNREGISTERED SECURITIES

For  the  fourth  quarter  period  ended  June  30, 2003, the Company's Board of
Directors  resolved  to  issue  the  following  shares:

     -    2,210,304 to Steven Weismann valued at $.0001 issued for services
          rendered to the Company.

     -    2,210,304 to Steven Kerr valued at $.0001 issued for services
          rendered to the Company.

     -    1,200,000 to Fredrick Schulman valued at $.0001 issued for services
          rendered to the Company.

We  believe  that  each  transaction  listed above was  exempt  from  the
registration  requirements  of  the  Securities Act of 1933 by virtue of Section
4(2) thereof or Regulation D promulgated thereunder. All recipients had adequate
access,  through  their  relationships with us, to information about us.

THE APPLICATION OF THE "PENNY STOCK REGULATION" COULD HARM THE MARKET PRICE OF
OUR COMMON STOCK

Our securities may be deemed a penny stock. Penny stocks generally are equity
securities with a price of less than $5.00 per share other than securities
registered on certain national securities exchanges or quoted on the NASDAQ
Stock Market, provided that current price and volume information with respect to
transactions in such securities is provided by the exchange or system. Our
securities may be subject to "penny stock rules" that impose additional sales
practice requirements on broker-dealers who sell such securities to persons
other than established customers and accredited investors (generally those with
assets in excess of $1,000,000 or annual income exceeding $200,000 or $300,000
together with their spouse). For transactions covered by these rules, the
broker-dealer must make a special suitability determination for the purchase of
such securities and have received the purchaser's written consent to the
transaction prior to the purchase. Additionally, for any transaction involving a
penny stock, unless exempt, the "penny stock rules" require the delivery, prior
to the transaction, of a disclosure schedule prescribed by the Commission
relating to the penny stock market. The broker-dealer also must disclose the
commissions payable to both the broker-dealer and the registered representative
and current quotations for the securities. Finally, monthly statements must be
sent disclosing recent price information on the limited market in penny stocks.

                                       4
<PAGE>

Consequently, the "penny stock rules" may restrict the ability of broker-dealers
to sell our securities and may have the effect of reducing the level of trading
activity of our common stock in the secondary market. The foregoing required
penny stock restrictions will not apply to our securities if such securities
maintain a market price of $5.00 or greater. We can give no assurance that the
price of our securities will reach or maintain such a level.

ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

The following discussion of our financial condition and results of operations
should be read together with the consolidated financial statements and the
related notes included elsewhere in this Form 10-KSB and which are deemed to be
incorporated into this section. This discussion contains forward-looking
statements that involve risks and uncertainties.

Certain statements contained in this document that are not historical facts are
"forward looking statements," as that term is defined in Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934,
that involve a number of risks and uncertainties. Such forward-looking
statements may concern potential acquisitions and joint ventures, capital
expenditures, economic climate, strategic relationships with third parties,
liquidity and the Company's strategy. Such forward-looking statements are
generally accompanied by words such as "plan," "estimate," "expect," "believe,"
"should," "would," "could," "anticipate" or other words that convey uncertainty
of future events or outcomes. Such forward-looking statements are based upon
management's current plans, expectations, estimates and assumptions and are
subject to a number of risks and uncertainties that could significantly affect
current plans, anticipated actions, the timing of such actions and the Company's
business, financial position and results of operations. As a consequence, actual
results may differ materially from expectations, estimates or assumptions
expressed in or implied by any forward-looking statements made by or on behalf
of the Company.

OVERVIEW

The Company is a dormant holding company and is working to acquire an operating
business through purchase or merger.

NEW ACCOUNTING PRONOUNCEMENTS

     In June 2002, the Financial Accounting Standards Board (FASB) issued
Statement of Financial Accounting Standards No. 146, " Accounting for Costs
Associated with Exit or Disposal Activities" (FAS 146). FAS 146, which will be
effective for exit or disposal activities initiated after December 31, 2002, is
not expected to have a material impact on the company's results of operation,
financial position or cash flows.

     In December 2002, the FASB issued Statement of Financial Accounting
Standards No. 148, "Accounting for Stock-Based Compensation-Transition and
Disclosure" (FAS 148), which amends FAS 123, "Accounting for Stock-Based
Compensation", transition requirements when voluntarily changing to the fair
value based method of accounting for stock-based compensation and also amends
FAS 123 disclosure requirements. FAS 148 is not expected to have a material
impact on the company's results of operations, financial position or cash flow.

RESULTS OF OPERATIONS - YEAR ENDED JUNE 30, 2003

The Company did not have any income for the year ended June 30, 2003.
Since inception, the Company has not generated income from operations or net
income, nor has it generated cash from operations. As such, the Company's
operations have been funded primarily by equity and debt financings. Management
believes that the Company will continue to be dependent on equity financings and
its ability to borrow under its debt agreements.




                                       6
<PAGE>

ITEM 7. CONSOLIDATED FINANCIAL STATEMENTS.

The financial information required by this item is set forth beginning on page
F-1 following the signature page.

ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURES.

None
                                       7

<PAGE>



                                    PART III

ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE
WITH SECTION 16(A) OF THE EXCHANGE ACT.

DIRECTORS AND EXECUTIVE OFFICERS

The following table sets forth information regarding the directors and executive
officers of Gourmet Group, Inc. as of September 22, 2003.
A description of their respective backgrounds follows below.



Name                          Age       Position
-----                         ---       --------

Fredrick Schulman             51        Chairman, Chief Executive Officer, and
                                        President

Jeffrey Moore                 33        Director


Steven H. Kerr                41        Vice President, Chief Financial Officer
                                        Secretary and Director


All of the officers identified above serve at the discretion of the Board of
Directors of Gourmet Group, Inc.

Fredrick Schulman. Mr. Schulman is Chairman, Chief Executive Officer, and
President of Gourmet Group, Inc. and , from September 1999 until April 2002 was
Jardine Foods President, Chairman, and Chief Executive Officer. Mr. Schulman is
currently President of East Coast Venture Capital, a Specialized Small Business
Company. Mr. Schulman was previously President of Morgan Kent Group, Inc., a New
York based merchant bank, which was once the majority stockholder in Gourmet
Group. Prior to joining Morgan Kent Group, Inc., Mr. Schulman was the Director
of Investment Banking at RAS Securities Corp, a full service, New York based,
securities broker/dealer investment banking firm. Mr. Schulman received his B.A
from Clark University in 1974 and his J.D. from Boston College School of Law in
1977. A member of the New York Bar, Mr. Schulman practiced corporate, commercial
and real estate law on a full time basis from 1977 to 1983, after which he
formed his own investment banking firm specializing in real estate equity and
debt finance, and leveraged buy-outs.

Jeffrey Moore.  Jeffrey Moore, 33, formerly served on
the Board of Directors of Gourmet Group, Inc. from September 1999
until April 2002. Mr. Moore currently serves as Vice President
of Business Development with First American Title Austin, Texas since
November 2002. Prior to this position, Mr. Moore was a Director an Development
with Boundless Corporation from January 1997 until February 2002. Mr. Moore
remained a consultant to Boundless Corporation until March 2003. During his
tenture with Boundless, Mr.Moore served as President of Merinta, Inc., a
Boundless subsidiary, from January 2000 until February 2002. Mr. Moore has
served as a Director of CD3 Storage Systems, Inc. since 1999. Mr. Moore received
a B.A in Finance from Baylor University in 1993.

Steven Kerr. Mr. Kerr has been on the Board of Directors of Gourmet Group,
Inc. since June, 1997. In the past six years he's held positions such as Vice
President of an online trading company, General Manager for Three Line Cycle
Dealership, and a sales and finance manager for a motorcycle dealership.



                                       8


<PAGE>



DIRECTOR COMPENSATION

We have no established compensation arrangements with our directors, but
directors may be reimbursed for their reasonable expenses incurred in connection
with the attendance at board and committee meetings. Directors are eligible to
receive options to purchase common stock under our option plans.


ITEM 10. EXECUTIVE COMPENSATION.

The following table sets forth information for the fiscal year ended June 30,
2003, concerning the compensation paid and awarded to our Chief Executive
Officer and all other executive officers who earned over $100,000 (named
executive officers) during the 2003 fiscal year.

Summary Compensation Table
<TABLE>
<CAPTION>


                                                      Annual Compensation                Long Term Compensation Awards
                                                      -------------------                -----------------------------
                                                                         Other           Securities
Name and                        Fiscal                                   Annual          Underlying         All Other
Principal Position               Year      Salary        Bonus        Compensation         Options        Compensation
-------------------               ----      ------        -----        ------------         -------        -----------
<S>                               <C>      <C>            <C>             <C>                <C>              <C>
Fred Schulman                     2003     $ 0            --              --                 --               --
Chief Executive Officer
And Chairman


</TABLE>



                                       9
<PAGE>



OPTION GRANTS IN 2002

No options were granted to the named executive officers during the fiscal year
ending June 30, 2003.

YEAR-END OPTION VALUES

The following table provides information about stock options held as of June 30,
2002 by our currently named executive officers.

Fiscal Year-End Option Values

<TABLE>
<CAPTION>

                                                     Number of             Value of
                                                     Securities           Unexercised
                                                     Underlying          In-the-Money
                                                    Unexercised        Options at Fiscal
                     Shares          Value        Options at Fiscal        Year End
                   Acquired on     Realized     Year End Exercisable/    Exercisable/
Name                Exercise          ($)           Unexercisable       Unexercisable
-----                --------          ---           -------------       -------------

<S>                     <C>            <C>          <C>                     <C>
Fred Schulman           0              0            1,885,454 (e)(*)               0
                                                            0 (u)                  0

 </TABLE>

(*)  In  consideration  for  services  rendered  to  the  Company,  the Board of
     Directors of  the  Company resolved to reduce the exercise of the 1,885,454
     options  to  an  exercise  price  of $0.0001.

The last trading price of Gourmet Group's common stock on September 22, 2003 was
$0.00.

                                       10
<PAGE>



STOCK OPTION PLAN

General. We adopted our 2000 Incentive Plan on September 1, 2000. The plan
authorizes the issuance of up to 5,000,000 shares of our common stock through
the grant of stock awards and stock options. If options granted under the plan
expire or are terminated for any reason without being exercised, the shares of
common stock underlying such grant will again be available for purposes of the
plan.

For the fiscal year ended June 30, 2003 and subsequently to the date of this
filing, we have not issued any options or shares of common stock pursuant to the
2000 Incentive Plan.

EMPLOYMENT AGREEMENTS

None.

ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

The following table sets forth certain information regarding ownership of
Gourmet Group, Inc.'s common stock as of September 22, 2003 by:

(i) each person known to us to own beneficially more than 5% of Gourmet Group
outstanding common stock;

(ii) each director of Gourmet Group;

(iii) each executive officer named in the summary compensation table; and

(iv) all directors and executive officers of Gourmet Group as a group.

Share ownership is based on 35,702,993 shares of common stock outstanding on
September 22, 2003. Unless otherwise noted, the address for each stockholder is
the address of the Company.


<TABLE>
<CAPTION>

                                                                          Percent of Shares
Name and Address of Beneficial Owner               Number of Shares      Beneficially Owned
-------------------------------------               ----------------      ------------------

<S>                                                    <C>                      <C>
JGS Supermarket Management Corp.                       6,000,000                16.8%

Daniel N. Matheson (1)                                 2,356,818                 6.6%

Alfi Express                                           2,000,000                 5.6%

Bain Investments                                       2,000,000                 5.6%

Fredrick Schulman (2)                                  5,700,000                 9.1%

Lois Shapiro(3)                                        2,199,697                6.16%

Steven H. Kerr                                         2,477,687                6.9%

Jeffrey Moore                                                  0                  0

Steven G. Weismann                                     2,478,758


Directors and Executive Officers of Gourmet            8,177,687                22.9%
Group as a Group

</TABLE>


                                       11

<PAGE>

(1) Includes 23,568 shares underlying currently exercisable options.

(2) Includes 1,884,000 shares underlying currently exercisable options and
741,364 shares owned by Mr. Schulman's wife, Lois Shapiro.

(3) Includes 1,884,000 shares underlying currently exercisable options held by
Ms. Shapiro's husband, Fredrick Schulman.


ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

The Company had an agreement with a related-party consulting company under which
consulting services will be provided through February 2002. The Company's chief
executive officer is also the principal of the consulting company. The services
provided include consultation in the area of merger and acquisition
opportunities, equity and debt financing, strategic planning and other aspects
of the business. Fees and expenses paid for these services under the agreement
are approximately $5,500 per month. The Company believes that the fees paid and
services received are equivalent to those obtainable from an unaffiliated third
party.

                                       12
<PAGE>




ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K.

(a) The following exhibits are filed as part of this report:



Exhibit No.*      Description of Exhibit
- ------------      ----------------------

   3.1 [1]        Restated Articles of Incorporation of Gourmet Group,
                  Inc.

   3.2 [2]        By-laws of Gourmet Group, Inc.

  10.1 [3]        Agreement and Plan of Share Exchange, dated as of
                  September 28, 2000, among Gourmet Group, Inc., Our Food
                  Products Group, Inc. and the shareholders of Our Food
                  Products Group, Inc.

  10.2 [1]        Gourmet Group, Inc. 2000 Incentive Plan.

  10.3 [1]        Credit and Security Agreement by and between Our Food
                  Products Group, Inc. and Wells Fargo Business Credit,
                  Inc., dated as of May 31, 2000.

  10.4 [1]        Amendment, dated September 28, 2000, to Credit and
                  Security Agreement, with Gourmet Group, Inc. as an
                  additional party.

  10.5 [1]        Deed of Trust, Security Agreement and Financing
                  Agreement, dated as of May 31, 2000, given by Our Food
                  Products Group, Inc. unto a trustee for Wells Fargo
                  Business Credit, Inc.



                                       13
<PAGE>


      Exhibit No.*      Description of Exhibit
      ------------      ----------------------

        10.6 [1]        Guaranty, dated as of September 28, 2000, made by
                        Gourmet Group, Inc. for Wells Fargo Business Credit,
                        Inc.

        10.7 [1]        Keep Well Agreement, dated as of May 31, 2000, among Our
                        Food Products Group, Inc., Morgan Kent Group, Inc. and
                        Wells Fargo Business Credit, Inc.

        10.8 [1]        Amendment to Keep Well Agreement, dated as of September
                        28, 2000.

        10.9 [1]        Pledge Agreement, dated September 28, 2000, between
                        Gourmet Group, Inc. and KBK Financial, Inc.

          11            Statement re computation of per share earnings (See
                        Financial Statements).

          16 [1]        Letter of Meeks, Dorman & Company, P.A. to the
                        Securities and Exchange Commission pursuant to the
                        requirements of Item 304(a)(3) of Regulation S-K.

          21.1          List of Subsidiaries of Gourmet Group, Inc.

          31            Section 302 Certification dated September 22, 2003.

          32            Section 906 Certification dated September 22, 2003.



* Number inside brackets indicate documents from which exhibits have been
incorporated by reference.

[1] Incorporated by reference to the Registrant's Current Report on Form 8-K
dated September 28, 2000 and filed with the Commission on October 13, 2000.

[2] Incorporated by reference to Vincuna, Inc.'s Registration Statement on Form
S-1 (No. 33-55254-10) which became effective on June 30, 1993 and which was
filed jointly with other companies with the consent of the Securities and
Exchange Commission.

[3] Incorporated by reference to Exhibit 10.1 to the Schedule 13D filed by
Morgan Kent Group et al. on October 10, 2000 relating to Gourmet Group common
stock.

(b) Reports on Form 8-K

None
                                       14
<PAGE>



                                   SIGNATURES

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

                                          GOURMET GROUP, INC.





Date:  September 22, 2003                  By: /s/ Fredrick Schulman
                                            ----------------------
                                            Fredrick Schulman
                                            Chairman and Chief
                                            Executive Officer



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




Signature                                           Date
----------                                      ---------------

/s/Fred Schulman                               September 22, 2003
--------------------------------------
Fred Schulman
Chairman and Chief Executive Officer

/s/ Steven H. Kerr                             September 22, 2003
--------------------------------------
Steven H. Kerr
Chief Financial Officer (Principal Financial
and Accounting Officer) and Director

/s/ Jeffrey Moore                              September 22, 2003
--------------------------------------
Director
                                       15
<PAGE>


                       GOURMET GROUP, INC. AND SUBSIDIARY


                              FINANCIAL STATEMENTS
                                      WITH
                    REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS

                             JUNE 30, 2003 AND 2002


<PAGE>



                                    CONTENTS



                                                                  PAGE

Report of Independent Public Accountants                           F-1

Financial Statements
        Consolidated Balance Sheets                                F-2
        Consolidated statements of
              Operations and Accumulated Deficit                   F-3
              Stockholders' Equity                                 F-4
              Cash Flows                                           F-5

Notes to Consolidated Financial Statements                      F-6 - F-9


<PAGE>



                    Report of Independent Public Accountants


To the Board of Directors and
Stockholders of Gourmet Group, Inc.

We have audited the accompanying consolidated balance sheets of Gourmet Group,
Inc., (a Nevada corporation), and its subsidiary as of June 30, 2003 and 2002,
and the related consolidated statements of operations, stockholders' equity and
cash flows for the years then ended. These consolidated financial statements are
the responsibility of the Company's management. Our responsibility is to express
an opinion on these consolidated financial statements based on our audits.

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

In our opinion, the consolidated financial statements referred to above present
fairly, in all material respects, the financial position of Gourmet Group, Inc.,
and its subsidiary as of June 30, 2003 and 2002, and the results of their
operations and their cash flows for the years then ended, in conformity with
accounting principles generally accepted in the United States of America.


Bernstein Pinchuk & Kaminsky LLP

New York, New York
September 23, 2003

                                       F-1
<PAGE>

                         GOURMET GROUP, INC. AND SUBSIDIARY
                           CONSOLIDATED BALANCE SHEETS
                                    June 30,


<TABLE>
<CAPTION>


                                                                       2003               2002

                                         ASSETS

Current Assets
<S>                                                               <C>                <C>
   Cash                                                           $         404      $           -
   Other receivables                                                          -             48,000
                                                                  --------------     --------------
       Total current assets                                                 404             48,000

                                                                  --------------     --------------
                                                                  $         404      $      48,000
                                                                  ==============     ==============


                        LIABILITIES AND STOCKHOLDERS' DEFICIENCY

LIABILITIES

Current Liabilities
   Income taxes payable                                           $         910      $           -
   Other current liabilities                                              5,279             48,000
                                                                  --------------     --------------
        Total current liabilities                                         6,189             48,000
                                                                  --------------     --------------

STOCKHOLDERS' DEFICIENCY

   Common Stock, $0.001 par value; 50,000,000 shares authorized;
       issued and outstanding, 33,202,933 shares in 2003 and
       28,582,384 shares in 2002                                         33,203             28,582
   Additional paid-in capital                                         3,497,194          3,501,353
   Accumulated deficit                                               (3,536,182)        (3,529,935)
                                                                  --------------     --------------
                                                                         (5,785)                 -
                                                                  --------------     --------------
                                                                  $         404      $      48,000
                                                                  ==============     ==============


</TABLE>




             See the accompanying notes to the financial statements.

                                       F-2

<PAGE>

                         GOURMET GROUP, INC. AND SUBSIDIARY
                         CONSOLIDATED STATEMENTS OF OPERATIONS
                              Years ended June 30,

<TABLE>
<CAPTION>


                                                                 2003             2002

<S>                                                                <C>              <C>
Income                                                       $         -      $         -
                                                             ------------     ------------
General and administrative expenses                                5,337            4,735

Discontinued Operations (Note 4)
     Loss from operations of discontinued component                    -          545,605
     Loss on disposal of discontinued component                        -          998,493

                                                             ------------     ------------
     Loss from discontinued operations                                 -        1,544,098
                                                             ------------     ------------

Loss before income tax expense                                    (5,337)      (1,548,833)

Income tax expense                                                   910                -
                                                             ------------     ------------

NET LOSS                                                     $    (6,247)     $(1,548,833)
                                                             ============     ============


Net loss per share - basic and diluted

</TABLE>


             See the accompanying notes to the financial statements.

                                       F-3

<PAGE>
                       GOURMET GROUP, INC. AND SUBSIDIARY
               CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIENCY
                       Years ended June 30, 2003 and 2002


<TABLE>
<CAPTION>
                                                                                      Additional                      Total
                                                              Common stock             paid-in       Accumulated   stockholders'
                                                          ---------------------------
                                                          Shares         Amount        capital         deficit        equity
                                                          -----------------------------------------------------------------------
<S>                                                       <C>             <C>        <C>           <C>             <C>
Balance at June 30, 2001                                    28,582,384      $ 28,582   $ 3,501,353   $ (1,981,102)   $ 1,548,833

Net loss - year ended June 30, 2002                                  -             -             -     (1,548,833)    (1,548,833)
                                                          -----------------------------------------------------------------------

Balance at June 30, 2002                                    28,582,384        28,582     3,501,353     (3,529,935)             -

Stock issued as compensation to officers and directors       3,600,000         3,600        (3,240)             -            360

Stock issued as additional compensation to two directors     1,020,549         1,021          (919)             -            102

Net loss - year ended June 30, 2003                                  -             -             -         (6,247)        (6,247)
                                                          -----------------------------------------------------------------------

Balance at June 30, 2003                                    33,202,933      $ 33,203   $ 3,497,194   $ (3,536,182)      $ (5,785)
                                                          =======================================================================

</TABLE>
             See the accompanying notes to the financial statements.

                                       F-4

<PAGE>

                         GOURMET GROUP, INC. AND SUBSIDIARY
                         CONSOLIDATED  STATEMENTS OF CASH FLOWS
                              Years ended June 30,



<TABLE>
<CAPTION>

                                                       2003              2002

Cash flows from operating activities
<S>                                                <C>               <C>
  Net Loss                                         $     (6,247)     $ (1,548,833)
                                                   -------------     -------------
  Adjustments to reconcile net income to net cash
  provided by operating activities:
   Amortization of prepaid expenses                           -            25,000
    Loss on disposal of discontinued component                -           998,493
    Loss from operations of discontinued component            -           545,605
    Increase in current liabilities                           -            48,000
   Writeoff of old liabilities                                -           (68,265)
    Increase in income taxes payable                        910                 -
    Decrease in accrued liabilities                     (42,721)                -
    Decrease in accounts receivable                      48,000                 -
                                                   -------------     -------------
    Total adjustments                                     6,189         1,548,833
                                                   -------------     -------------
  Net cash used in operating activities                     (58)                -
                                                   -------------     -------------

Cash flow from financing activities:
    Proceeds from issuance of common stock                  462                 -
                                                   -------------     -------------
  Net cash provided by financing activities                 462                 -
                                                   -------------     -------------

Net increase in cash and equivalents                        404                 -
Cash and equivalents, beginning of year                       -                 -
                                                   -------------     -------------
Cash and equivalents, end of year                  $        404      $          -
                                                   =============     =============
</TABLE>


There were no payments made for interest or taxes.


             See the accompanying notes to the financial statements

                                       F-5

<PAGE>


1.   Nature of Business and Organization

     Gourmet Group, Inc., formerly known as Seair Group, Inc. (Seair), a Nevada
     corporation, and its wholly owned subsidiary, World Seair Corporation (a
     dormant corporation with no operations) are collectively referred to as the
     Company. The Company is presently dormant.


2.   Summary of Significant Accounting Policies

     Use of Estimates

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

     Principles of Consolidation

     The financial statements are presented on a consolidated basis and include
     the accounts of Gourmet Group, Inc., and World Seair Corporation. All
     significant intercompany balances and transactions have been eliminated in
     consolidation.

     Income Taxes

     The Company accounts for income taxes in accordance with SFAS No. 109,
     "Accounting for Income Taxes." Deferred taxes are determined based on the
     difference between the financial statement and tax basis of assets and
     liabilities using enacted tax rates in effect in the years in which the
     differences are expected to reverse. Valuation allowances are provided if,
     based upon the weight of available evidence, it is more likely than not
     that some or all of the deferred tax assets will not be realized.



                                       F-6
<PAGE>

     Loss Per Share

     Loss per share has been calculated in accordance with the provisions of
     SFAS No. 128, "Earnings Per Share." The basic loss per share is computed by
     dividing net loss by the weighted average number of common shares
     outstanding during the year. Due to the Company's net loss, diluted loss
     per share is the same as basic since the effect of considering outstanding
     common share equivalents would be antidilutive.

     Recently Issued Accounting Pronouncements

     In December 1999, the Securities and Exchange Commission (SEC) issued Staff
     Accounting Bulletin No. 101 (SAB 101), "Revenue Recognition in Financial
     Statements," as amended, which was effective no later than the quarter
     ended June 2001. SAB 101 clarifies the SEC's views regarding recognition of
     revenue. The adoption of SAB 101 did not have a significant impact on the
     Company's financial position or results of operations.


3.   Common Stock

     The Company has 50,000,000 authorized shares of common stock. Each share of
     common stock is entitled to one vote. The holders of common stock are also
     entitled to receive dividends whenever funds are legally available and when
     declared by the Board of Directors, subject to the prior rights of holders
     of all classes of stock outstanding.


4.   Disposal of Subsidiary

     On May 28, 2002, the Company sold its only operating subsidiary. There were
     remaining disputes between the Company and the buyer, which were settled on
     October 15, 2002 by a Compromise and Settlement Agreement, settling a
     certain matter entitled KBK Financial, Inc. d/b/a KBK Mezzanine Partners
     and Star Brands v. Gourmet Group, Inc. in Texas District Court, Tarrant
     County. The specific terms and conditions of the Compromise and Settlement
     Agreement are the subject of a Mutual Confidentiality Agreement. The
     Company was released from any further obligations concerning the subsidiary
     sold.


                                       F-7


<PAGE>

5.   Income Taxes

     At June 30, 2003, the Company has Federal NOL carryforwards of
     approximately $7,500,000 available to reduce future taxable income, which
     begin to expire in 2019.

     Under the provisions of the Internal Revenue Code, certain substantial
     changes in the Company's ownership may result in a limitation on the amount
     of net operating loss carry forwards, which can be used in future years.


5.   Commitments, Contingencies and Subsequent Events

     On August 27, 2003, the Company executed a Memorandum of Understanding (the
     "MOU") for a share exchange with a real estate owner, operator and
     developer based in The People's Republic of China (the "Chinese Co."),
     pursuant to which, the Chinese Co.'s shareholders will, at closing, own
     approximately 90% of the issued and outstanding capital stock of the
     Company.

     The MOU is non-binding and there can be no assurance that the share
     exchange will occur.




                                     F-8