|UNITED STATESSECURITIES
AND EXCHANGE COMMISSION


Washington, D.C. 20549


FORM 10-Q/A
|--------------------------------------------------------------------------------------

|(Mark
      One)
|----------------
||X|             

|For
        the quarterly period ended June 30, 2003
|----------------------------------------------------

||_| | TRANSITION
      REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF
      1934
|--- | -----------------------------------------------------------------------------------------------------

|For
        the transition period from              to


Commission File
  Number 0-28536



NEW CENTURY
  EQUITY HOLDINGS CORP.(Exact name of registrant as specified in its charter)
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Delaware                                       |  | 74-2781950                  
|---------------------------------------------- |  | ----------------------------
|(State
      or other jurisdiction of          |  | (I.R.S.
      Employer      
|incorporation
      or organization)           |  | Identification
      Number)
|                                               |  |                             
|
|(Address
      of principal executive offices) |  | (Zip
      code)            

|(210) 302-0444
        (Registrants
telephone number, including area code)



Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by
Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter periods that the registrant was required to file such reports), and
(2) has been subject to such filing requirements for the past 90 days. |X| Yes |_| No


Indicate
by check mark whether the registrant is an accelerated filer (as defined in Rule 12b-2 of
the Exchange Act). |_| Yes |X| No


Indicated
below is the number of shares outstanding of the registrants only class of common
stock at August 13, 2003:
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Title
      of Class                | Number
      of Shares 
      Outstanding
|----------------------------------- | -----------------------------------------
|
|Common
      Stock, $0.01 par value | 34,217,620                               

|
|

|NEW
        CENTURY EQUITY HOLDINGS CORP. AND SUBSIDIARIES
        INDEX
|------------------------------------------------------------------------

|                                                                                      |  |  |  | PAGE | 
|------------------------------------------------------------------------------------- |  |  |  | ---- | 
|
|                                                                                      |  | 
|PART I
      FINANCIAL INFORMATION                                                    |  | 
|                                                                                      |  | 
|Item 1. Interim
      Condensed Consolidated Financial Statements                     |  | 
|                                                                                      |  | 
|Condensed
      Consolidated Balance Sheets  June 30, 2003 (Unaudited)               |  | 
|and
      December 31, 2002                                                           |  |  |  | 3    | 
|                                                                                      |  | 
|Unaudited
      Condensed Consolidated Statements of Operations  For the Three       |  | 
|and
      Six Months ended June 30, 2003 and 2002                                     |  |  |  | 4    | 
|                                                                                      |  | 
|Unaudited
      Condensed Consolidated Statements of Cash Flows  For the Six         |  | 
|Months
      ended June 30, 2003 and 2002                                             |  |  |  | 5    | 
|                                                                                      |  |  |  |      | 
|Notes
      to Unaudited Interim Condensed Consolidated Financial Statements          |  |  |  | 6    | 
|                                                                                      |  | 
|Item 2. Managements
      Discussion and Analysis of Financial Condition and Results |  | 
|of
      Operations                                                                   |  |  |  | 11   | 
|                                                                                      |  |  |  |      | 
|Item 3. Quantitative
      and Qualitative Disclosure about Market Risk               |  |  |  | 13   | 
|                                                                                      |  |  |  |      | 
|Item 4. Controls
      and Procedures                                                 |  |  |  | 13   | 
|                                                                                      |  | 
|PART II
      OTHER INFORMATION                                                       |  | 
|                                                                                      |  |  |  |      | 
|Item 1. Legal
      Proceedings                                                       |  |  |  | 14   | 
|                                                                                      |  |  |  |      | 
|Item 4. Submission
      of Matters to a Vote of Security Holders                     |  |  |  | 14   | 
|                                                                                      |  |  |  |      | 
|Item 6. Exhibits
      and Reports on Form 8-K                                        |  |  |  | 14   | 
|                                                                                      |  |  |  |      | 
|SIGNATURE                                                                             |  |  |  | 15   | 

|2
|-

|PART I FINANCIAL
INFORMATION


Item 1. Interim
Condensed Consolidated Financial Statements


NEW CENTURY EQUITY
HOLDINGS CORP. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(In thousands, except share data)
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                                                                      | June 30,
      2003 |  | December
      31,
      2002 |        
|--------------------------------------------------------------------- | ------------------- |  | ----------------------------- | -------
|
|
|ASSETS                                                                |                     | 
|                                                                      |                     | 
|Current assets:                                                       |                     | 
|Cash
      and cash equivalents                                       |                     |  | $                             | 7,620  
|Accounts
      receivable                                             |                     |  |                               | 40     
|Prepaid
      and other assets                                        |                     |  |                               | 286    
|Net
      current assets from discontinued operations                 |                     |  |                               |       
|                                                                      |                     |  |                               |        
|Total
      current assets                                            |                     |  |                               | 7,946  
|Property
      and equipment, net                                     |                     |  |                               | 170    
|Other non-current
      assets                                        |                     |  |                               | 53     
|Investments
      in affiliates                                       |                     |  |                               | 8,003  
|                                                                      |                     |  |                               |        
|Total
      assets                                                    |                     |  | $                             | 16,172 
|                                                                      |                     |  |                               |        
|LIABILITIES
      AND STOCKHOLDERS EQUITY                            |                     | 
|                                                                      |                     | 
|Current liabilities:                                                  |                     | 
|Accounts
      payable                                                |                     |  | $                             | 13     
|Accrued
      liabilities                                             |                     |  |                               | 521    
|Net
      current liabilities from discontinued operations            |                     |  |                               | 38     
|                                                                      |                     |  |                               |        
|Total
      current liabilities                                       |                     |  |                               | 572    
|Other non-current
      liabilities                                   |                     |  |                               |       
|                                                                      |                     |  |                               |        
|Total
      liabilities                                               |                     |  |                               | 572    
|Commitments
      and contingencies                                   |                     |  |                               |       
|Stockholders
      equity:                                           |                     | 
|Preferred
      stock, $0.01 par value, 10,000,000 shares authorized; |                     | 
|no
      shares issued or outstanding                                 |                     |  |                               |       
|Common
      stock, $0.01 par value, 75,000,000 shares authorized;    |                     | 
|34,217,620
      shares issued and outstanding                        |                     |  |                               | 342    
|Additional
      paid-in capital                                      |                     |  |                               | 70,346 
|Accumulated
      deficit                                             |                     |  |                               | (55,088
|                                                                      |                     |  |                               |        
|Total
      stockholders equity                                      |                     |  |                               | 15,600 
|                                                                      |                     |  |                               |        
|Total
      liabilities and stockholders equity                      |                     |  | $                             | 16,172 
|                                                                      |                     |  |                               |        

|The accompanying notes are an
integral part of these interim condensed consolidated financial statements.


3
|-------------------------------------------------------------------------------------------------------------

|NEW CENTURY EQUITY
HOLDINGS CORP. AND SUBSIDIARIESUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except
per share data)
|-------------------------------------------------------------------------------------------------------------------------------------------------

|                                                            | Three Months
      Ended
      June 30, |  | Six Months
      Ended 
      June 30, |       
|----------------------------------------------------------- | --------------------------------------- |  | -------------------------------------- | ------
|
|
|                                                            |                                         |  |                                        |       
|Operating
      revenues                                    |                                         |  | $                                      |      
|Operating
      expenses:                                   |                                         | 
|Selling,
      general and administrative expenses          |                                         |  |                                        | 541   
|Depreciation
      and amortization expenses                |                                         |  |                                        | 40    
|                                                            |                                         |  |                                        |       
|Operating
      loss from continuing operations             |                                         |  |                                        | (581  
|Other income
      (expense):                               |                                         | 
|Interest
      income, net                                  |                                         |  |                                        | 22    
|Equity
      in net loss of affiliate                       |                                         |  |                                        | (766  
|Consulting
      income                                     |                                         |  |                                        |      
|Other
      (expense) income, net                           |                                         |  |                                        | (1    
|                                                            |                                         |  |                                        |       
|Total other
      expense, net                              |                                         |  |                                        | (745  
|                                                            |                                         |  |                                        |       
|Net loss
      from continuing operations                   |                                         |  |                                        | (1,326
|Discontinued
      operations:                              |                                         | 
|Net
      loss from discontinued operations                 |                                         |  |                                        |      
|Net
      income from disposal of discontinued              |                                         | 
|operations                                                  |                                         |  |                                        |      
|                                                            |                                         |  |                                        |       
|Net loss                                                    |                                         |  | $                                      | (1,326
|                                                            |                                         |  |                                        |       
|Basic and
      diluted net (loss) income per common share: |                                         | 
|Net
      loss from continuing operations                   |                                         |  | $                                      | (0.04 
|Net
      loss from discontinued operations                 |                                         |  |                                        |      
|Net
      income from disposal of discontinued              |                                         | 
|operations                                                  |                                         |  |                                        |      
|                                                            |                                         |  |                                        |       
|Net
      loss                                              |                                         |  | $                                      | (0.04 
|                                                            |                                         |  |                                        |       
|Weighted
      average common shares outstanding            |                                         |  |                                        | 34,218
|                                                            |                                         |  |                                        |       

|The accompanying notes are an
integral part of these interim condensed consolidated financial statements.


4
|-------------------------------------------------------------------------------------------------------------

|NEW CENTURY EQUITY
HOLDINGS CORP. AND SUBSIDIARIESUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands)
|-------------------------------------------------------------------------------------------------------------------------

|                                                                               | Six Months
      Ended 
      June 30, | 
|------------------------------------------------------------------------------ | -------------------------------------- | 
|
|
|
|Cash
      flows from operating activities:                                    |                                        | 
|Net loss
      from continuing operations                                      |                                        | 
|Adjustments
      to reconcile net loss from continuing operations to net cash |                                        | 
|(used
      in) provided by operating activities:                              |                                        | 
|Depreciation
      and amortization expenses                                   |                                        | 
|Equity
      in net loss of affiliate                                          |                                        | 
|Changes
      in operating assets and liabilities:                             |                                        | 
|(Increase)
      decrease in accounts receivable                               |                                        | 
|Decrease
      in prepaid and other assets                                     |                                        | 
|(Decrease)
      increase in accounts payable                                  |                                        | 
|Decrease
      in accrued liabilities                                          |                                        | 
|Increase
      in other liabilities and other noncash items                    |                                        | 
|                                                                               |                                        | 
|                                                                               |                                        | 
|Net cash
      (used in) provided by continuing operating activities           |                                        | 
|Net cash
      provided by (used in) discontinued operating activities         |                                        | 
|                                                                               |                                        | 
|Net cash
      (used in) provided by operating activities                      |                                        | 
|                                                                               |                                        | 
|Cash flows
      from investing activities:                                    |                                        | 
|Purchases
      of property and equipment                                      |                                        | 
|Investments
      in affiliates                                                |                                        | 
|Redemption
      of affiliate                                                  |                                        | 
|Other
      investing activities                                               |                                        | 
|                                                                               |                                        | 
|Net cash
      used in investing activities                                    |                                        | 
|                                                                               |                                        | 
|Cash flows
      from financing activities:                                    |                                        | 
|Proceeds
      from issuance of common stock                                   |                                        | 
|                                                                               |                                        | 
|Net cash
      provided by financing activities                                |                                        | 
|                                                                               |                                        | 
|                                                                               |                                        | 
|Net decrease
      in cash and cash equivalents                                |                                        | 
|Cash and
      cash equivalents, beginning of period                           |                                        | 
|                                                                               |                                        | 
|Cash and
      cash equivalents, end of period                                 |                                        | 
|                                                                               |                                        | 
|                                                                               |                                        | 
|Supplemental
      disclosure of financial information:                        |                                        | 
|Cash
      paid for interest                                                   |                                        | 
|Cash
      paid for income taxes                                               |                                        | 

|The accompanying notes are an
integral part of these interim condensed consolidated financial statements.


5
|-------------------------------------------------------------------------------------------------------------

|NEW CENTURY EQUITY
HOLDINGS CORP. AND SUBSIDIARIESNOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL
STATEMENTS (UNAUDITED)


Note 1. Basis of
Presentation


The
interim condensed consolidated financial statements included herein have been prepared by
New Century Equity Holdings Corp. and subsidiaries (collectively, the
Company), without audit, pursuant to the rules and regulations of the
Securities and Exchange Commission (SEC). Certain information and footnote
disclosures normally included in financial statements prepared in accordance with
accounting principles generally accepted in the United States of America have been
condensed or omitted pursuant to such rules and regulations. In the opinion of the
Companys management, the accompanying interim condensed consolidated financial
statements reflect all adjustments, of a normal recurring nature, that are necessary for a
fair presentation of the Companys financial position, results of operations and cash
flows for such periods. It is recommended that these interim condensed consolidated
financial statements be read in conjunction with the consolidated financial statements and
the notes thereto included in the Companys Annual Report on Form 10-K for the year
ended December 31, 2002. Results of operations for the interim periods are not necessarily
indicative of results that may be expected for any other interim periods or the full
fiscal year.


In
October 2000, the Company completed the sale of its Transaction Processing and Software
divisions to Platinum Holdings (Platinum) of Los Angeles, California (the
Transaction), for initial consideration of $49.7 million. The Company may be
entitled to receive additional consideration consisting of potential royalty payments,
assuming the achievement of certain post-closing revenue targets ($5.0 million related to
the Aptis division and $5.0 million related to the OSC division). The post-closing revenue
targets apply to the three-year period subsequent to the Transaction. Management continues
to monitor the revenue achievements of the Aptis and OSC divisions, but does not believe
it is likely that either division will achieve the post-closing revenue targets necessary
to generate a potential royalty payment to the Company.


Note 2. Stock Based
Compensation

            
            The
              Company adopted Statement of Financial Accounting Standards (SFAS)
              No. 123 Accounting for Stock-Based Compensation, but
              elected to apply Accounting Principles Board (APB) Opinion
              No. 25 Accounting for Stock Issued to Employees and
              related interpretations in accounting for its stock option plans.
              The following table illustrates the effect on net loss and net loss
              per common share had compensation expense for the Companys
              stock option grants and Employee Stock Purchase Plan (ESPP)
              purchases been determined based on the fair value at the grant dates
              consistent with the methodology of SFAS No. 123. For purposes of
              the pro forma disclosures, the estimated fair value of options is
              amortized to pro forma compensation expense over the options
              vesting periods.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                                                       | Three
      Months Ended
      June 30, |  | Six
      Months Ended
      June 30, |       
|------------------------------------------------------ | --------------------------------------- |  | ------------------------------------- | ------
|
|(in
      thousands, except per share data)           
|                                                      
|Net
      loss, as reported                            |                                         |  | $                                     | (1,326
|Less: Total
      stock based employee compensation    |                                         | 
|expense
      determined under fair value based method |                                         | 
|for
      all awards, net of related tax effects       |                                         |  |                                       | (45   
|                                                       |                                         |  |                                       |       
|Net loss,
      pro forma                              |                                         |  | $                                     | (1,371
|                                                       |                                         |  |                                       |       
|                                                       |                                         | 
|Basic and
      diluted net loss per common share:     |                                         | 
|Net
      loss, as reported                            |                                         |  | $                                     | (0.04 
|Net
      loss, pro forma                              |                                         |  | $                                     | (0.04 
|                                                       |                                         | 

|6
|-

|The
fair value for these options was estimated at the respective grant date using the
Black-Scholes option-pricing model with the following weighted average assumptions for the
six months ended June 30, 2003: expected volatility of 96.3%, no dividend yield, expected
life of 2.5 years and risk-free interest rate of 1.8%.


Note 3. Investments in
Affiliates



Investments
in affiliates is comprised of the following:
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|June 30,
      2003                                |  | December
      31,
      2002 |  
|-------------------------------------------------- |  | ----------------------------- | -
|                                                  
|Investment
      in Princeton eCom Corporation:    |  |                               |  
|Cash
      investments                             |  |                               | $
|In-process
      research and development costs    |  |                               |  
|Amortization
      and equity loss pick-up         |  |                               |  
|Impairment
      of investment                     |  |                               |  
|Other                                              |  |                               |  
|                                                   |  |                               |  
|Net
      investment in Princeton eCom Corporation |  |                               |  
|Investment
      in Sharps Compliance Corp.:       |  |                              
|Cash
      investments                             |  |                               |  
|Other                                              |  |                               |  
|                                                   |  |                               |  
|Net
      investment in Sharps Compliance Corp.    |  |                               |  
|Investment
      in Microbilt Corp.:               |  |                              
|Equity
      investments                           |  |                               |  
|Other                                              |  |                               |  
|                                                   |  |                               |  
|Net
      investment in Microbilt Corp.            |  |                               |  
|                                                   |  |                               |  
|Total
      investments in affiliates              |  |                               | $
|                                                   |  |                               |  

|Note 4. Accrued
liabilities


Accrued
liabilities is comprised of the following:
|--------------------------------------------------------------------------------

|June 30,
      2003              |   | December
      31,
      2002 | 
|-------------------------------- | - | ----------------------------- | 
|                                 |   |                               | 
|Accrued
      income taxes       | $ | 174                           | 
|Accrued
      vacation           |   | 129                           | 
|Accrued
      audit fees         |   | 57                            | 
|Accrued
      annual report fees |   | 65                            | 
|Other                            |   | 96                            | 
|                                 |   |                               | 
|Total
      accrued liabilities  | $ | 521                           | 
|                                 |   |                               | 

|Note 5. Commitments and
Contingencies


In
April 2003, the Company received notice that Bristol Investments, Ltd. and Microbilt
Corporation (Microbilt) filed suit against the Company and one of its officers
alleging breach of contract and misrepresentation in conjunction with the October 2001
merger of a former subsidiary, FIData, Inc., into Microbilt. The Company believes it has
meritorious defenses, the specified claims are without merit and intends to vigorously
contest this lawsuit.


During
the year ended September 30, 1999, the Company entered into an agreement to guarantee the
terms of Princeton eCom Corporations (Princeton) lease for office space
at 650 College Road East, Princeton, New Jersey. This guarantee terminates should
Princeton raise $25.0 million of capital through an initial public offering. The landlord
of the office space has agreed, subject to lender approval, to replace the Companys
guarantee with an alternative security equal to rent payments for approximately one year.
Although no assurances can be made, it is Princetons intention to provide sufficient
security in order to eliminate the need for the Companys guarantee. The Company does
not believe it is probable that it will be required to perform under the lease guarantee.
Through December 2009, the payments remaining under the terms of the lease approximate
$9.4 million.


7
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Note 6. Investment in
Unconsolidated Affiliate


The
Company accounts for its investment in Princeton under the equity method of accounting (as
the Company does not exhibit control over Princeton) and records the equity in net loss of
Princeton on a three-month lag. As of June 30, 2003, the Companys ownership
percentage of the preferred stock, the outstanding stock and the fully diluted stock of
Princeton was 35.6%, 38.0% and 33.2%, respectively. As of December 31, 2002, the
Companys ownership percentage of the preferred stock, the outstanding stock and the
fully diluted stock of Princeton was 35.6%, 38.0% and 32.9%, respectively.


Princetons
summarized balance sheets as of March 31, 2003 and September 30, 2002, are as follows:
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|March 31,
      2003                     |  | September
      30,
      2002 |  
|---------------------------------------- |  | ------------------------------ | -
|                                        
|Current
      assets                     |  |                                | $
|Non-current
      assets                 |  |                                |  
|Current
      liabilities                |  |                                |  
|Non-current
      liabilities            |  |                                |  
|Mandatorily
      redeemable convertible |  |                               
|preferred
      stock                    |  |                                |  
|                                         |  |                               

|Princetons statements
of operations for the three and six months ended March 31, 2003 and 2002 have been used to
calculate the equity in net loss recorded in the Companys statements of operations
for the three and six months ended June 30, 2003 and 2002, respectively. Princetons
summarized statements of operations are as follows:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                           | Three Months
      Ended
      March 31, |  | Six Months
      Ended
      March 31, |       
|-------------------------- | ---------------------------------------- |  | -------------------------------------- | ------
|
|(in
      thousands)      
|                          
|Total
      revenues       |                                          |  | $                                      | 9,170 
|Gross
      profit         |                                          |  |                                        | 4,278 
|Loss
      from operations |                                          |  |                                        | (2,164
|Net
      loss             |                                          |  |                                        | (2,147

|For
the six months ended March 31, 2002, loss from operations of $25.0 million included
special charges totaling $10.6 million. Approximately $7.4 million of the special charges
relate to the implementation of a strategic restructuring plan to streamline
Princetons operations by reducing operating expenses primarily through workforce
reductions ($4.1 million) and renegotiating significant contracts and leases ($3.3
million). The additional charges relate to the write-down of a portion of the asset value
of Princetons property and equipment. The impairment was recognized as the future
undiscounted cash flows related to these assets were estimated to be insufficient to
recover the related carrying values of the property and equipment.


Note 7. Related Party
Transactions


In
April 2000, the Board of Directors of the Company approved a restricted stock grant to the
Companys CEO. The restricted stock grant consists of Princeton stock equal to 2% of
Princetons fully diluted shares. The restricted stock grant vested on April 30,
2003. The Company expensed the fair market value of the restricted stock grant over the
three-year period ended April 30, 2003. The Company recognized $150,000 during the three
months ended June 30, 2002 and $300,000 and $300,000 during the six months ended June 30,
2003 and 2002, respectively, as compensation expense related to the stock grant.



8
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|The
Companys CEO served as Chairman of the Board of Tanisys at the time of the
Companys investment in Tanisys and until his resignation in February 2002. A member
of the Companys Board served as Tanisys Chairman of the Board and CEO from
February 2002 until February 2003 and as a member of Tanisys Board from February
2002 to March 2003. This Board member received approximately $15,000 per month from
Tanisys as compensation for services as Chairman of the Board and CEO. The Company also
appointed the Companys CFO and another one of its Board members to the Board
of Tanisys. This Board member resigned from the Board of Tanisys in February 2003 and the
Companys CFO resigned from the Board of Tanisys in March 2003.


The
CEO of the Company has served on the Board of Princeton since September 1998. The CEO
served as Chairman of the Board of Princeton from January 2002 until December 2002. The
Companys CFO served as a member of the Board of Princeton from August 2001 until
June 2002.


The
Companys CEO and one of its Board members serve on the Board of Sharps
Compliance Corp. (Sharps) and did so at the time the Company invested in
Sharps. The Companys CFO was appointed CFO of Sharps in February 2003. The
Company allocates a portion of the CFOs salary and related expenses to Sharps.


Note 8. Discontinued
Operations


Tanisys Technology, Inc.


In
August 2001, the Company invested $1,060,000 in Tanisys Technology, Inc.
(Tanisys). In February 2003, the Company sold its preferred stock in Tanisys
to ATE Worldwide LLC, whose majority shareholder is a leader in the semiconductor testing
equipment market. Accordingly, the operations of Tanisys have been classified as
discontinued operations. The Company received approximately $0.2 million in exchange for
its preferred stock, which is reported as a gain on the disposal of discontinued
operations during the six months ended June 30, 2003.


For
accounting purposes, the Company consolidated Tanisys into the financial statements of the
Company under the purchase method of accounting. As the Company consolidated Tanisys on a
three-month lag (due to the difference in fiscal year ends of the Company and Tanisys),
Tanisys balance sheet as of September 30, 2002, including adjustments made under the
purchase method of accounting, was consolidated with the Companys balance sheet as
of December 31, 2002, as follows (in thousands):



9
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                                                             | 
|------------------------------------------------------------ | 
|Cash
      and cash equivalents                              | 
|Accounts
      receivable, net                               | 
|Inventory:                                                   | 
|Raw
      materials                                          | 
|Work
      in process                                        | 
|Finished
      goods                                         | 
|                                                             | 
|Total
      inventory                                        | 
|Prepaid
      and other assets                               | 
|                                                             | 
|Total
      current assets                                   | 
|Property
      and equipment, net                            | 
|Other
      non-current assets, net                          | 
|                                                             | 
|Total
      assets                                           | 
|                                                             | 
|Accounts
      payable                                       | 
|Accrued
      liabilities                                    | 
|Revolving
      credit note                                  | 
|Note
      payable to minority stockholders, net of discount | 
|                                                             | 
|Total
      current liabilities                              | 
|Other
      non-current liabilities                          | 
|                                                             | 
|Total
      liabilities                                      | 
|                                                             | 
|Minority
      interest in consolidated affiliate            | 
|Accumulated
      deficit                                    | 

|Tanisys
statement of operations for the three and six months ended March 31, 2002, including
adjustments made under the purchase method of accounting, were consolidated in the
Companys statement of operations for the three and six months ended June 30, 2002,
as follows (in thousands):
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                                                   | Three
      months |      | Six
      months |  
|-------------------------------------------------- | ------------------ | ---- | ---------------- | -
|
|                                                   |                    |     
|Operating
      revenues                           | $                  | 479  |                  | $
|Cost
      of revenues                             |                    | 262  |                  |  
|                                                   |                    |      |                  |  
|Gross
      profit                                 |                    | 217  |                  |  
|Selling,
      general and administrative expenses |                    | 380  |                  |  
|Research
      and development expenses            |                    | 481  |                  |  
|Depreciation
      and amortization expenses       |                    | 34   |                  |  
|                                                   |                    |      |                  |  
|Operating
      loss from discontinued operations  |                    | (678 | )                |  
|Other
      income (expense):                     
|Interest
      expense, net                        |                    | (190 | )                |  
|Other
      expense, net                           |                    |     |                  |  
|Minority
      interest in consolidated affiliate  |                    | 543  |                  |  
|                                                   |                    |      |                  |  
|Total
      other income, net                      |                    | 353  |                  |  
|                                                   |                    |      |                  |  
|Net
      loss                                     | $                  | (325 | )                | $
|                                                   |                    |      |                  |  
|Net
      loss                                     | $                  | (325 | )                | $
|Preferred
      stock dividend                     |                    | (62  | )                |  
|Minority
      interest in consolidated affiliate  |                    | 62   |                  |  
|                                                   |                    |      |                  |  
|Net
      loss applicable to common stockholders   | $                  | (325 | )                | $
|                                                   |                    |      |                  |  

|10
|--

|Advances


During
2002, the Company advanced $43,000 to Tanisys. These advances were due to the Company
under the terms of a promissory note bearing interest at twelve percent (12%) and matured
in March 2003. This promissory note was repaid in February 2003.


Income Tax Refund


In
June 2002, the Company filed its federal income tax return with the Internal Revenue
Service for the tax fiscal year ended September 30, 2001 (which includes the Transaction
completed in October 2000, as discussed in Note 1). The Company received a refund claim
totaling $2.2 million in July 2002. The income tax refund is reflected as net income from
disposal of discontinued operations in the three and six months ended June 30, 2002, as
the refund relates to those companies sold in the Transaction.


Note 9. New Accounting
Standards


In
May 2003, the Financial Accounting Standards Board issued SFAS No. 150, Accounting
for Certain Financial Instruments with Characteristics of both Liabilities and
Equity. SFAS No. 150 establishes standards on the classification and measurement of
financial instruments with characteristics of both liabilities and equity. The Company
does not believe the adoption of SFAS No. 150 will have a material impact on the
Companys consolidated financial statements.


Item 2.



      This
        Quarterly Report on Form 10-Q contains certain forward-looking
        statements as such term is defined in the Private Securities Litigation
        Reform Act of 1995 and information relating to the Company and its subsidiaries
        that are based on the beliefs of the Companys management as well
        as assumptions made by and information currently available to the Companys
        management. When used in this report, the words anticipate,
        believe, estimate, expect and intend
        and words or phrases of similar import, as they relate to the Company
        or its subsidiaries or Company management, are intended to identify forward-looking
        statements. Such statements reflect the current risks, uncertainties and
        assumptions related to certain factors including, without limitation,
        competitive factors, general economic conditions, customer relations,
        relationships with vendors, the interest rate environment, governmental
        regulation and supervision, seasonality, distribution networks, products
        introductions and acceptance, technological change, changes in industry
        practices, onetime events and other factors described herein and in other
        filings made by the Company with the Securities and Exchange Commission.
        Based upon changing conditions, should any one or more of these risks
        or uncertainties materialize, or should any underlying assumptions prove
        incorrect, actual results may vary materially from those described herein
        as anticipated, believed, estimated, expected or intended. The Company
        does not intend to update these forward-looking statements.


MANAGEMENTS
DISCUSSION AND ANALYSIS OF FINANCIALCONDITION AND RESULTS OF OPERATIONS


General


The
following is a discussion of the interim condensed consolidated financial condition and
results of operations for New Century Equity Holdings Corp. and subsidiaries
(collectively, the Company), for the three and six months ended June 30, 2003.
It should be read in conjunction with the unaudited Interim Condensed Consolidated
Financial Statements of the Company, the notes thereto and other financial information
included elsewhere in this report, and the Companys Annual Report on Form 10-K for
the year ended December 31, 2002. For purposes of the following discussion, references to
year periods refer to the Companys fiscal year ended December 31 and references to
quarterly periods refer to the Companys fiscal quarter ended June 30.



11
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Results of Operations


Continuing Operations


Selling,
general and administrative (SG&A) expenses are comprised of all selling,
marketing and administrative costs incurred in direct support of the business operations
of the Company. For the three months ended June 30, 2003, SG&A expenses totaled $0.5
million, compared to $0.9 million for the three months ended June 30, 2002. For the six
months ended June 30, 2003, SG&A expenses totaled $1.2 million, compared to $1.9
million for the six months ended June 30, 2002. The decrease in SG&A expenses relates
to an overall reduction in expenditures and corporate personnel. The cash portion of the
SG&A expenses was $0.5 million (no non-cash SG&A expenses) and $0.7 million (total
SG&A expenses of $0.9 million, less non-cash compensation expense of $0.2 million) for
the three months ended June 30, 2003 and 2002, respectively. For the six months ended June
30, 2003 and 2002, the cash portion of the SG&A expenses was $1.0 million (total
SG&A expenses of $1.2 million, less non-cash compensation expense of $0.2 million) and
$1.5 million (total SG&A expenses of $1.9 million, less non-cash compensation expense
of $0.4 million) respectively.


Net
other expense totaled $0.7 million during the three months ended June 30, 2003, compared
to $1.0 million during the three months ended June 30, 2002. Net other expense totaled
$1.4 million during the six months ended June 30, 2003, compared to $14.0 million during
the six months ended June 30, 2002. The decrease in net other expense for the three and
six months ended June 30, 2003, primarily related to decreases in the equity in net loss
of affiliate and consulting income from Platinum.



Princeton


Princetons revenues increased to $9.2 million during the three months ended March
31, 2003, from $6.4 million during the three months ended March 31, 2002. Princetons
revenues increased to $17.8 million during the six months ended March 31, 2003, from $12.2
million during the six months ended March 31, 2002. The increase in revenue is a result of
an increase in the number of financial institution and biller customers coupled with an
increase in bill presentment and payment transactions. Princetons net loss of $2.1
million for the three months ended March 31, 2003, decreased from the $4.3 million net
loss for the three months ended March 31, 2002. Princetons net loss of $4.0 million
for the six months ended March 31, 2003, decreased from the $26.6 million net loss for the
six months ended March 31, 2002. The decreases in Princetons net losses are the
result of the increase in revenues as well as the reductions made to operating expenses
during 2002. The net loss for the six months ended March 31, 2002, included impairment
charges totaling $10.6 million related to the impairment of property and equipment,
employee separations and contract settlements.


Earnings
before interest, taxes, depreciation and amortization (EBITDA) is a financial
measurement used by management and investors to assess the value of a technology-related
company such as Princeton. EBITDA is not a financial measurement pursuant to generally
accepted accounting principles (GAAP), nor is it acceptable or considered an
alternative measure of cash flows from operations under GAAP. Princetons EBITDA is
calculated as follows:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                                            | Three Months
      Ended
      March 31, |  | Six Months
      Ended 
      March 31, |       
|------------------------------------------- | ---------------------------------------- |  | --------------------------------------- | ------
|
|(in
      thousands)                       
|                                           
|Net
      loss                              |                                          |  | $                                       | (2,147
|Less:                                       |                                          | 
|Depreciation
      and amortization expense |                                          |  |                                         | (1,451
|Interest
      income (expense)             |                                          |  |                                         | 17    
|Income
      tax benefit                    |                                          |  |                                         |      
|                                            |                                          |  |                                         |       
|                                            |                                          |  |                                         | (1,434
|                                            |                                          |  |                                         |       
|EBITDA                                      |                                          |  | $                                       | (713  
|                                            |                                          |  |                                         |       

|12
|--

|In
April 2003, Princeton announced an agreement with Financial Fusion, Inc. to provide the
financial services industry with a complete end-to-end ASP solution for bill payment. The
alliance combines Financial Fusions Payments Solution and Bill Payment Warehouse
with Princeton eComs Remittance Processing ASP. Financial Fusion, a wholly-owned
subsidiary of Sybase, Inc., provides integrated financial solutions to more than 200 of
the worlds leading financial institutions.


During
the second half of this year, Princetons revenues will be adversely affected by the
loss of certain customers. As a result, the management team of Princeton has intensified
its new sales efforts and implemented a channel partner strategy with the goal of
replacing the loss of revenues as quickly as possible. Additionally, Princeton believes
the recently announced strategic partner alliances with Financial Fusion and Standard
Register could contribute incremental revenues to the company during 2003.



Discontinued Operations


In
February 2003, the Company sold its preferred stock in Tanisys to ATE Worldwide LLC, whose
majority shareholder is a leader in the semiconductor testing equipment market. The
Company received approximately $0.2 million in exchange for its preferred stock, which is
reported as a gain on the disposal of discontinued operations during the six months ended
March 31, 2003.


In
June 2002, the Company filed its federal income tax return with the Internal Revenue
Service for the tax fiscal year ended September 30, 2001 (which includes the Transaction
completed in October 2000, as discussed in Note 1). The Company received a refund claim
totaling $2.2 million in July 2002. The income tax refund is reflected as net income from
disposal of discontinued operations in the three and six months ended June 30, 2002, as
the refund relates to those companies sold in the Transaction.


Liquidity and Capital
Resources


The
Companys cash balance decreased to $7.6 million at June 30, 2003, from $8.7 million
at December 31, 2002. This decrease relates to the receipt of $0.2 million from the sale
of Tanisys preferred stock, offset by the $0.2 million invested in Sharps and the
cash portion of corporate expenses. Capital expenditures totaled $3,000 during the three
and six months ended June 30, 2003. The Company anticipates minimal capital expenditures
before acquisitions, if any, during the six months ending December 31, 2003. The Company
believes it will be able to fund future expenditures with cash on hand.



Princeton


During
the year ended September 30, 1999, the Company entered into an agreement to guarantee the
terms of Princetons lease for office space at 650 College Road East, Princeton, New
Jersey. This guarantee terminates should Princeton raise $25.0 million of capital through
an initial public offering. The landlord of the office space has agreed, subject to lender
approval, to replace the Companys guarantee with an alternative security equal to
rent payments for approximately one year. Although no assurances can be made, it is
Princetons intention to provide sufficient security in order to eliminate the need
for the Companys guarantee. The Company does not believe it is probable that it will
be required to perform under the lease guarantee.






Item 3. Quantitative and
Qualitative Disclosure about Market Risk


The
Company is exposed to interest rate risk primarily through its portfolio of cash
equivalents and short-term marketable securities. The Company does not believe that it has
significant exposure to market risks associated with changing interest rates as of June
30, 2003, because the Companys intention is to maintain a liquid portfolio to take
advantage of investment opportunities. The Company does not use derivative financial
instruments in its operations.


Item 4. Controls and
Procedures


Within
the ninety days prior to the date of this report, the Company carried out an evaluation,
under the supervision and with the participation of the Companys management,
including the Companys Chief Executive Officer and Chief Financial Officer, of the
effectiveness of the design and operation of the Companys disclosure controls and
procedures pursuant to Exchange Act Rule 13a-14. Based upon that evaluation, the Chief
Executive Officer and Chief Financial Officer concluded that the Companys disclosure
controls and procedures are effective in timely alerting them to material information
relating to the Company (including its consolidated subsidiaries) required to be included
in the Companys periodic SEC filings.


13
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|PART II OTHER
INFORMATION


Item 1. Legal Proceedings


In
April 2003, the Company received notice that Bristol Investments, Ltd. and Microbilt
Corporation (Microbilt) filed suit against the Company and one of its officers
alleging breach of contract and misrepresentation in conjunction with the October 2001
merger of a former subsidiary, FIData, Inc., into Microbilt. The Company believes it has
meritorious defenses, the specified claims are without merit and intends to vigorously
contest this lawsuit.


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


The
Companys 2003 Annual Meeting of Stockholders was held on June 5, 2003, in San
Antonio, Texas. At the meeting, the Companys stockholders elected two directors to
each serve a three-year term expiring in 2006.


The
following table summarizes the number of votes case for or withheld from each matter:
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | ELECTION
      OF DIRECTORS |                     
| | --------------------------- | --------------------
| | Name                        | Total
      VotesFor
|
| |                             |                     
| | Gary
      D. Becker        | 26,754,758          
| | Stephen
      M. Wagner     | 26,763,573          

|Item 6. Exhibits and
Reports on Form 8-K
|----------------------------------------

| | (a) | Exhibits:
| | --- | ---------

| | 31.1 | Certification
      of Chief Executive Officer in Accordance with Section 302 of the Sarbanes-Oxley
      Act (filed herewith)
| | ---- | ------------------------------------------------------------------------------------------------------------------------------

| | 31.2 | Certification
      of Chief Financial Officer in Accordance with Section 302 of the Sarbanes-Oxley
      Act (filed herewith)
| | ---- | ------------------------------------------------------------------------------------------------------------------------------

| | 32.1 | Certification
      of Chief Executive Officer in Accordance with Section 906 of the Sarbanes-Oxley
      Act (filed herewith)
| | ---- | ------------------------------------------------------------------------------------------------------------------------------

| | 32.2 | Certification
      of Chief Financial Officer in Accordance with Section 906 of the Sarbanes-Oxley
      Act (filed herewith)
| | ---- | ------------------------------------------------------------------------------------------------------------------------------

| | (b) | Current
                        Reports on Form 8-K:
| | --- | ----------------------------------------------------

| | Form
8-K, dated and filed April 24, 2003, announcing the Companys results of operations
for the three months ended March 31, 2003.
| | -----------------------------------------------------------------------------------------------------------------------------------

| | Form
8-K, dated May 14, 2003, filed May 19, 2003, announcing the receipt from The Nasdaq Stock
Market, Inc. of a delisting letter and the Companys intent to file an appeal.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Form
8-K, dated August 11, 2003, announcing the Companys results of operations
for the three and six months ended June 30, 2003.
| | ---------------------------------------------------------------------------------------------------------------------------------

# Items  2,  3  and  5
 are  not  applicable  and  have  been  omitted.

|14
|--

|SIGNATURE


Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Date:
      August 13, 2003 |  | NEW
      CENTURY EQUITY HOLDINGS CORP. 
                          (Registrant)
      By:             /s/
      DAVID P. TUSA 
            
                                David
      P. Tusa 
           Executive Vice President, Chief Financial
                Officer and
      Corporate Secretary
      (Duly authorized and principal financial officer)
|--------------------------- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|15
|--