U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                   FORM 10-KSB

[X] Annual Report under Section 13 or 15(d) of the Securities Exchange Act of
    1934

    For the fiscal year ended           December 31, 2002
                                   ---------------------------------------

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

     For the transition period from ______________ to _________________

                         Commission file number      333-53186
                                                -----------------

                            URANIUM STRATEGIES, INC.
                 (Name of Small Business Issuer in Its Charter)

Nevada                                             N/A
----------------------------                -------------------
(State or Other Jurisdiction                  (I.R.S. Employer
of Incorporation or Organization)            Identification No.)

31 Walmer Road, Suite 6, Toronto, Ontario, Canada      M5R 2W7
-------------------------------------------------     --------
(Address of Principal Executive Offices)             (Zip Code)

                                 (416) 928-3095
                                -----------------
                (Issuer's Telephone Number, Including Area Code)

Securities registered under Section 12(b) of the Exchange Act:

Title of Each Class             Name of Each Exchange on Which Registered
-------------------             -----------------------------------------
None                            None

             Securities registered under Section 12(g) of the Act:

                                      None
                    -----------------------------------------
                                (Title of Class)

     Check whether the issuer: (1) 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 past 90 days. Yes X No ___

     Check if there is no disclosure of delinquent filers in response to Item
405 of Regulation S-B contained in this form, and no disclosure will be
contained, to the best of 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|

     The issuer's revenues for its most recent fiscal year were $0.

     The aggregate market value of our common shares held by non-affiliates of
the registrant on September 12, 2003 was approximately $50,000.

     As of March 26, 2003, the Issuer had 3,510,000 common shares, $.001 par
value, outstanding.

     Transitional Small Business Disclosure Format: Yes ____ No X

<PAGE>


                                     PART I

Item 1.  Description of Business

Organization
------------

Uranium  Strategies  Inc.  ("USI" or the "Company") was organized under the laws
of the state of Nevada on March 5, 1998. The executive offices are at 31 Walmer
Rd., Suite 6, Toronto, Ontario, Canada, M5R 2W7. Its telephone number is
(416) 504-7011.

USI was originally formed by three persons in 1998 to hold an investment in
common shares of an unrelated mining company. In early 2000, USI sold the shares
it held for proceeds of $10,000. After the sale of the shares, the then
shareholders of USI formulated a business plan to seek copper mineralization
assets. To that end, on September 18, 2000, the current board of directors and
management were recruited and appointed and USI began to pursue its current
business plan.

Corporate Strategy
------------------

USI has been engaged in the identification, acquisition and exploration of
mining prospects with copper mineralization. The Company's main thrust is to
continue to explore for a commercially viable copper mineralization, but it will
consider other areas of mineralization exploration. Exploration for commercially
viable mineralization includes a high degree of risk which careful evaluation
experience and factual knowledge may not eliminate. It is noteworthy that few
mineral prospects which are explored ever produce any return on invested
capital.

On August 31, 2002, the Company terminated its agreement with Platoro West
Incorporated under which Platoro had staked 20 unpatented claims for the Company
located in Humboldt County, Nevada. As part of that termination, the Company
terminated its rights to the 20 unpatented claims.

We have had no revenues to date. We expect to incur substantial expenses in
seeking a commercially viable copper mineralization before we realize any
revenues from our efforts. Because we are in the very early stages of
implementing our business plan, we cannot indicate now if we will ever be
profitable.

Because of the uncertainties associated with exploration for copper
mineralization, USI will continually assess its likelihood of success in that
line of business, and will consider significant adjustments to the USI business
plan in response to its assessments. Adjustments of the business plan may
include seeking prospects with mineralizations other than copper, and
investigating alternative business strategies which may or may not be within the
mineral exploration or mining industries.


Copper Orientation
------------------

Copper is one of the most used and reused metals - it is known to date back to
prehistoric times, and has an infinite recyclable life. Copper's properties
include conductivity of electricity and heat, resistance to corrosion, and
pliability; making it an excellent resource for use in outdoor power lines and
cables, in-house wiring, lamp cords, and electrical machinery such as
generators, motors, signaling devices, electromagnets, and communication
equipment. Copper is also much desired for its beauty, and is used in the
production of cooking utensils, ornamental objects, and coins.

Known worldwide copper resources are estimated at nearly 5.8 trillion pounds, of
which only about 0.7 trillion pounds (12%) have been mined throughout history.

Consumption

                                       2
<PAGE>

Four classes of copper fabricators together account for about 97% of the total
copper (including alloying metal) consumed each year in the United States. Other
industries, such as steel, aluminum, and chemical, consume the remaining 3%.

The wire rod mills' share of metal consumed has grown sharply over the last 20
years, to about 49% today, while brass mills have dropped to 40%. Foundries
account for about 7% of fabricated products, and powder plants use only about 1%
of the US supply of copper.

Copper wire mill products are destined for use as electrical conductors.
Starting with wire rod, these mills cold draw the wire (with necessary anneals)
to final dimensions through a series of dies. The individual wires may be
stranded and normally are insulated before being gathered into cable assemblies.

Brass mills melt and alloy feedstock to make strip, sheet, plate, tube, rod,
bar, mechanical wire, forgings, and extrusions. Somewhat less than half the
copper input is refined and the rest is scrap. Fabricating processes, such as
hot rolling, cold rolling, extrusion, and drawing are employed to convert the
melted and cast feedstock into mill products.

About 45% of the output of US brass mills is unalloyed copper and high-copper
alloys, chiefly in such forms as plumbing and air conditioning tube, busbar and
other heavy-gage, flat products for electrical use, strip for auto radiator and
other heat-exchanger fins, and roofing sheet. Copper alloys comprise the
remaining 55%. Free-cutting brass rod, which exhibits outstanding machinability
and good corrosion resistance, and brass strip, which has high strength,
corrosion resistance, excellent formability, and good electrical properties,
together constitute about 80% of the total tonnage of copper alloys shipped from
US brass mills. Other alloy types of major commercial significance include
copper-nickels, which are strong and particularly resistant to seawater and used
for coinage; tin bronzes (phosphor bronzes), which are noted for their excellent
cold forming behavior and strength; tin brasses, known for outstanding corrosion
resistance; nickel silvers, which combine a silvery appearance with good
formability and corrosion resistance; beryllium coppers, which provide
outstanding strength when hardened; and aluminum bronzes, which have high
strength along with good resistance to oxidation, chemical attack, and
mechanical abrasion.

Foundries use pre-alloyed ingot, scrap, and virgin metal as raw materials. Their
chief products are shaped castings for many different industrial and consumer
goods, the most important of which are plumbing products and industrial valves.
Centrifugal and continuous cast copper alloy products find major application as
bearings, cylinders, and other symmetrical components.

Powder plants produce powder and flake for further fabrication into powder
metallurgy parts, chiefly small bronze bushings, and other uses.

Markets

Despite popular belief that copper is a material that is always on the defensive
and being substituted for, analysis shows the opposite to have been true over
the last ten or fifteen years. In the late 1960's and early 1970's, copper was
indeed the object of considerable substitution, particularly by aluminum in wire
mill products. This aluminum penetration resulted in copper reaching its lowest
market share at 71.9% of the total insulated wire and cable market in 1974, with
particularly sharp aluminum inroads into power cable, building wire, and magnet
wire (used to wind motors and transformers).

At about that time, safety problems, well publicized by the US Consumer Product
Safety Commission, began to occur at connections in aluminum branch-circuit
wiring used in well over a million homes up to that time. These problems were
undoubtedly responsible for a sudden return to copper in building wire and some
spillover effect into other wire and cable categories. Only in power cable,
primarily overhead utility cable installed by highly trained professionals, has
aluminum increased its market share since the mid-1970's. Today copper's share
of the US insulated wire and cable market is about 78%.

                                       3
<PAGE>

Building wiring and plumbing have been the two top markets in recent years. Both
have benefited from an increasing intensity of use (more electrical loads and
more bathrooms in new homes). Plastics are an ongoing threat to copper in
plumbing applications but their usage is still held back by their susceptibility
to permeation by gasoline and other organics and to mechanical damage. They also
do not exhibit copper's bacteriostatic properties.

Automotive applications, copper's third largest market, is the source of the
most serious current substitution threat; the use of aluminum in the radiators.
Copper's answer to this threat is new soldering materials, better radiator
designs, and new automated production techniques. Though aluminum has made
inroads into the radiator market, copper has gained far more due to the dramatic
increase in wiring and electronics within the average car. Today, the use of
copper and copper alloys in an average US-built passenger car is about 50
pounds, versus 36 pounds in 1980.

Telecommunications, on the other hand, has dropped from the number 2 spot to
number 4 in less than a decade. Fiber optics is the popular explanation for this
dip, but in fact it accounted for little of it prior to 1990. Other
technological factors are responsible, such as subscriber carrier (piggybacking
-16- of many phone conversations on a single pair of copper wires) and the use
of wires of smaller cross-section. This is a textbook example of copper
applications being engineered for ever-increasing efficiency of use, which
results in decreased poundage. Optical fibers are indeed a real threat for the
future, however. Whether that threat is realized may depend more on cost factors
than technical considerations.

Copper also goes head-to-head with aluminum in power utilities. Aluminum's light
weight is its one advantage in current-carrying applications and it is used
almost exclusively in overhead transmission and distribution cable. The advent
of high temperature superconductors, opens new vistas of possibility.
Superconductors need to be surrounded by "shunt" materials, which can carry
heavy currents around faults that occasionally occur in the superconductor. The
mini-materials battle between copper and aluminum for the best such material for
current-technology superconductors such as niobium-titanium has been won by
copper. Superconductivity could be an important new market for copper,
particularly in transmission lines, energy storage devices, and other
applications not yet contemplated.

One negative of note for copper consumption is a large loss in copper's use in
coinage. This occurred in 1982, when a copper alloy was replaced by zinc in the
penny. Roughly three-quarters of all US coins minted are pennies. A move is now
afoot to create a new copper-base dollar coin to eventually replace the dollar
bill.

A fact that is surprising to many is that when the markets are put on a
usage-intensity basis-that is, pounds of copper used per unit of measure of each
industry (use per housing start, per vehicle, per ton of air-conditioner
capacity, etc.) - copper has shown increasing use in the last ten years. This is
in contrast to the oft-quoted statement that the intensity of use of copper and
other "mature" metals is falling rapidly.


Competition
-----------

To the extent that we pursue the search for and development of appropriate
mineralizations, we anticipate that we will compete with numerous junior mining
and exploration companies to identify and acquire claims with strong
mineralization potential. We also expect to compete for the hiring of
appropriate geological and environmental experts to assist with exploration,
feasibility studies and obtaining mining prospects. In the future, we expect to
compete for qualified consultants, employees and equipment. Most of our current
competitors have, and our future competitors are expected to have, greater
resources than us. Therefore, we anticipate that our ability to compete largely
will depend on our financial resources and capacity and the opportunity to be
associated with a growing company.

Regulation
----------

                                       4
<PAGE>

The exploration of a mining prospect, and the later stages of development if it
occurs, will be subject to regulation by a number of federal and state
government authorities. The most important of these regulations are administered
by the United States Environmental Protection Agency and the Bureau of Land
Management. The regulations generally address issues relating to air, soil and
water contamination and apply to many mining related activities including
exploration, mine construction, mineral extraction, ore milling, water use,
waste disposal and use of toxic substances. In addition, there are regulations
relating to labor standards, occupational health and safety, mine safety,
general land use, export of minerals and taxation that USI may become subject if
it completes the exploration phase. Many of the regulations require permits or
licenses to be obtained, the absence of which or inability to obtain will
adversely affect the ability of USI to conduct its exploration activities. The
failure to comply with the regulations and terms of permits and licenses may
result in fines or other penalties or in revocation of a permit or license.

The initial exploration phase of a prospect will consist of basic prospecting,
geological mapping and ground geochemical and geophysical surveys. These
activities will have almost no impact on the land or the environment. Therefore,
there are no permits or licenses required and violation of regulation is
unlikely. If USI conducts diamond drilling exploration, it may have to construct
access roads and drill pads. In that event, a "notice of intent" for land use of
less than five acres and a "plan of operation" for land use of greater than five
acres must be filed with the Bureau of Land Management and approval obtained.

After the exploration activities, for the development phases, there are numerous
licenses and permits required. These would relate to land and water use,
construction of mining facilities, mine construction, and production activities.
There is no assurance that the required licenses and permits will be obtainable
and if obtained may contain limitations that make operations more expensive or
otherwise limit production possibilities.

The current laws and regulations are the subject of regular review at both the
state and federal levels. If amended to become more stringent, USI may have to
obtain new permits and licenses, change its business conduct and use more of its
resources for permitting, licensing and regulatory compliance. Any of these may
limit the ability of USI to implement its business plan or render it uneconomic
to explore a prospect and as a consequence it may have to restrict its
activities or curtail its plans.

To the extent that we have any prospects in a state, we must comply with the
annual staking and patent maintenance requirements of the state and the United
States Bureau of Land Management.

Personnel
---------

USI had one part time employee as of December 31, 2002. We expect to hire from
time to time, independent consultants and contractors during the stages of
implementing our business plan.


Item 2.  Description of Property

The executive office of USI is located at 31 Walmer Rd., Suite 6, Toronto,
Ontario, Canada, M5R 2W7. At this location it shares an undesignated amount of
space with another tenant. Currently, the landlord and primary tenant are not
charging USI any rent. If USI is obligated to pay rent at this location or
obtain rental space for itself, it believes that space is readily available at
market rates.


Item 3.  Legal Proceedings

The company is not currently aware of any legal proceedings or claims that the
company believes will have, individually or in the aggregate, a material adverse
effect on the company's financial position or results of operations.

                                       5
<PAGE>

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

None.

                                     PART II

Item 5.  Market for Common Equity and Related Stockholder Matters

The Company is private and its common stock does not trade on any exchange or
over the counter market.

On December 31, 2002, there were 29 holders of record of the Company's common
stock.

Dividends
---------

The Company has not paid cash dividends since inception. USI intends to retain
all of its earnings, if any, for use in its business and does not anticipate
paying any cash dividends in the foreseeable future. The payment of any future
dividends will be at the discretion of the board of directors and will depend
upon a number of factors, including future earnings, the success of the
company's business activities, capital requirements, the general financial
condition and future prospects of the company, general business conditions and
such other factors as the board of directors may deem relevant.

Recent Sales of Unregistered Securities
---------------------------------------

None.

Item 6.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations

This document contains forward-looking statements, including statements
regarding the Company's strategy, financial performance and revenue sources
which involve risks and uncertainties. The Company's actual results may differ
materially from those anticipated in these forward-looking statements as a
result of certain factors, including, but not limited to, those set forth in the
risk factors section and elsewhere in this Form 10-KSB.

Plan of Operations
------------------

USI is an exploration stage company. To date, USI has had no revenues and
incurred organizational and other start up expenses.

The expenses of USI during the period of inception (March 5, 1998) to December
31, 2002 were general and administrative expenses relating to office, transfer
agent, consulting, legal and accounting and compensation. During this period,
USI paid $121,495 for these expenses.

Our plan of operations includes the location of one or more prospects to explore
for copper or other mineralizations. Until August 31, 2002, the Company had an
agreement with a mineral exploration company, Platoro West Incorporated, which
owns paper based data of geological exploration on approximately 1,500 mineral
prospects, the majority of which are located in the United States. USI
terminated its agreement with Platoro West Incorporated on August 31, 2002. On
November 16, 2000, Platoro had staked 20 unpatented claims (the Pumpernickel
Valley Copper Project) for USI pursuant to this contract and met its staking
obligation. As part of its termination of the agreement with Platoro West, USI
did not renew the claims that Platoro had staked, and now does not have any
claims.

Going forward, the intent of USI is to identify prospects that exhibit favorable
exploration potential and then acquire these properties, either by staking or
leasing them. Once prospects are acquired by USI, a systematic exploration

                                       6
<PAGE>

program consisting of basic foot prospecting, geological mapping, geophysical
and geochemical surveys, surface sampling (where the presence of a particular
mineralization is evident), diamond drilling and metallurgical studies will be
carried out to determine the mineralization levels of the prospect. If old,
historical underground workings are located, a systematic sampling program will
be carried out if the workings are found to be accessible. Upon completion of
the exploration program and if deemed warranted, a preliminary study will be
carried out to determine the viability of the prospect taking into account a
great number of variables, some of which include: fluctuation in metal prices,
ore reserves, grade, metallurgy of the deposit, geometry of the orebody,
availability of water, mining equipment, general supplies, power, accommodation,
experienced personnel, etc.

USI will have to adjust the level of implementation of its business plan
according to the amount of financing its raises. Because its exploratory plan
has some flexibility, we believe that USI will be able to continue its
operations for the next 12 months. This estimate does not take into account
unforeseen expenses arising from unanticipated problems. In the event of
additional expenses, we will further adjust our business plan or seek additional
capital. USI will require additional capital to continue to fund its expenses
during the exploratory stage and for the implementation of the business plan of
conducting feasibility work. At this time, all of USI's capital requirements
will have to come from external sources, either from the sale of securities or
incurring of debt. Without additional capital, USI will have to curtail its
operations, and it will not be able to implement its business plan. USI does not
have any arrangements with investment banking firms or institutional lenders.

Year Ended December 31, 2002 Compared to Year Ended December 31, 2001
---------------------------------------------------------------------

USI did not conduct any business during 2002 that resulted in revenues. All of
its activities during 2002 were devoted to establishing a business plan and
conducting financing activities to obtain initial working capital.

For the years ended December 31, 2002 and 2001, USI had no revenues.

During 2002, USI incurred general and administrative expenses of $33,829
compared to $29,626, in 2001. These expenses were principally the costs
associated with professional fees, consulting fees, transfer agent fees and
compensation. The loss for 2002 was $33,829. The loss for 2001 was $29,626.
Funding of these expenses was from working capital and the issuance of common
stock.

The Company had a loss for tax purposes in 2002 and 2001. The Company did not
recognize a deferred tax asset for tax loss carryforwards as the Company can not
determine when, if ever, it will be able to use the tax loss carryforwards.

Liquidity and Capital Resources
-------------------------------

We used cash in operating activities for the year ended December 31, 2002,
totaling $26,320. USI had a working capital of $24,802 at December 31, 2002. USI
has funded its expenses from the one time sale of an investment for proceeds of
$10,000 and sales of shares of common stock in October 2000 and February 2002.
The sales in October 2000 were to a limited number of investors in private
placement transactions under an exemption from registration under the Securities
Act of 1933. The sales in February 2002 were pursuant to the Company's Form SB-2
prospectus filed with the Securities and Exchange Commission on June 27, 2001.

USI will require additional capital to continue to fund its expenses during the
exploratory stage and for the implementation of the business plan of conducting
feasibility work. At this time, all of USI's capital requirements will have to
come from external sources, either from the sale of securities or incurring of
debt. Without additional capital, USI will have to curtail its operations, and
it will not be able to implement its business plan. USI does not have any
arrangements with investment banking firms or institutional lenders.

                                       7
<PAGE>

Item 7.  Financial Statements and Supplementary Data

SELLERS & ANDERSEN L.L.C.                         941 East 3300 South, Suite 202
-------------------------                             Salt Lake City, Utah 84106
Certified Public Accountants and
Business Consultants
 Member SEC Practice Section of the AICPA                 Telephone 801 486-0096
                                                                Fax 801 486-0098


Board of Directors
Uranium Strategies, Inc.
Toronto, Ontario, Canada

               REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

We have audited the accompanying balance sheet of Uranium Strategies, Inc.
(development stage company) at December 31, 2002, and the related statements of
operations, stockholders' equity, and cash flows and for the years ended
December 31, 2002 and December 31, 2001 and the period March 5, 1998 (date of
inception) to December 31, 2002. These financial statements are the
responsibility of the Company's management. Our responsibility is to express an
opinion on these 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 financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management as well as evaluating the overall
balance sheet presentation. We believe that our audits provide a reasonable
basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Uranium Strategies, Inc. at
December 31, 2002, and the results of operations and cash flows for the years
ended December 31, 2002 and December 31, 2001 and the period March 5, 1998 (date
of inception) to December 31, 2002 in conformity with accounting principles
generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern. The Company does not have the working
capital necesary to service its debt and for its planned activity, which raises
substantial doubt about its ability to continue as a going concern. Management's
plans in regard to these matters are described in the notes to the financial
statements. These financial statements do not include any adjustments that might
result from the outcome of this uncertainty.

Salt Lake City, Utah
September 8, 2003                                   /s/Sellers & Andersen L.L.C.



                                      F-1

<PAGE>


URANIUM STRATEGIES, INC.
(Development Stage Company)
BALANCE SHEET

                                                            December 31, 2002

ASSETS

CURRENT ASSETS
   Cash                                                     $        24,802

                                                            ----------------
      Total Assets                                          $        24,802
                                                            ================

LIABILTIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
   Accounts payable - related parties                       $        23,557
   Accounts payable                                                   3,346

                                                            ----------------
      Total Current Liabilities                                      26,903
                                                            ----------------

STOCKHOLDERS' Deficiency
   Common stock
      20,000,000 shares authorized, at $0.001 par value;
      3,510,000 shares issued and outstanding                         3,510
   Capital in excess of par value                                   115,884
   Deficit accumulated during the development stage                (121,495)

                                                            ----------------
      Total Stockholders' Deficiency                                 (2,101)
                                                            ----------------

                                                            ----------------
                                                            $        24,802
                                                            ================

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

                                      F-2

<PAGE>

URANIUM STRATEGIES, INC.
(Development Stage Company)
STATEMENTS OF OPERATIONS
For the years ended December 31, 2002 and 2001 and the period March 5, 1998
(date of inception) to December 31, 2002


<TABLE>
<CAPTION>
                                                                                                    March 5, 1998 to
                                                      December 31, 2002      December 31, 2001     December 31, 2002
<S>                                                   <C>                    <C>                   <C>
REVENUES                                              $               -      $               -     $               -

EXPENSES
   Administrative                                                33,829                 25,426               119,795
   Exploration                                                        -                  4,200                 9,700

                                                      ---------------------------------------------------------------
                                                                 33,829                 29,626               129,495
                                                      ---------------------------------------------------------------

NET LOSS - before other income                                  (33,829)               (29,626)             (129,495)

   Net gain from sale of securities                                   -                      -                 8,000

                                                      ---------------------------------------------------------------
NET LOSS - before income taxes                                  (33,829)               (29,626)             (121,495)

                                                      ---------------------------------------------------------------
NET LOSS                                              $         (33,829)     $         (29,626)    $        (121,495)
                                                      ===============================================================

NET LOSS PER COMMON SHARE
   Basic                                                         ($0.01)                ($0.01)

AVERAGE OUTSTANDING SHARES
   Basic (stated in 1000's)                                       3,510                  2,510

</TABLE>

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

                                      F-3

<PAGE>
URANIUM STRATEGIES, INC.
(Development Stage Company)
STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
For the period March 5, 1998 (date of inception) to December 31, 2002

<TABLE>
<CAPTION>
                                                                                             Capital in
                                                                 Common Stock                Excess of       Accumulated
                                                            Shares           Amount          Par Value         Deficit
<S>                                                         <C>              <C>             <C>             <C>
Balance at March 5, 1998                                           -        $        -       $       -       $       -
Issuance of post split common stock for
   securities at $.0023 - August 26, 1998                    866,667               867           1,133
Contributions to capital - expenses - related parties                                            1,000
Net operating loss for the period
   March 5, 1998 to December 31, 1998                                                                           (1,000)
                                                          ------------------------------------------------------------
Balance at December 31, 1998                                 866,667        $      867       $   2,133       $  (1,000)
                                                          ============================================================

Contributions to capital - expenses - related parties                                            1,200
Net operating loss for the year ended
   December 31, 1999                                                                                            (1,200)
                                                          ------------------------------------------------------------
Balance at December 31, 1999                                 866,667        $      867       $   3,333       $  (2,200)
                                                          ============================================================

Issuance of common stock for services
   at $.05 - September 30, 2000                              100,000              100             4,900
Issuance of common stock for cash and
   services at $.037 - October 2, 2000                     1,533,333            1,533
      cash                                                                                       15,991
      services - related parties                                                                 38,570
Issuance of common stock for services
   at $.05 - October 30, 2000                                 10,000               10               490
Contributions to capital - expenses - related parties                                             1,200
Net operating loss for year ended
   December 31, 2000                                                                                           (55,840)
                                                            ----------------------------------------------------------
Balance at December 31, 2000                                  2,510,000          $ 2,510     $   64,484      $ (58,040)
                                                            ==========================================================

Contributions to capital - expenses - related parties                                             1,200
Net operating loss for year ended
   December 31, 2001                                                                                           (29,626)
                                                            ----------------------------------------------------------
Balance at December 31, 2001                                  2,510,000          $ 2,510     $   65,684      $ (87,666)
                                                            ==========================================================

Issuance of common stock for cash
   at $.05 - February 11, 2002                                1,000,000            1,000         49,000
Contributions to capital - expenses - related parties                                             1,200
Net operating loss for year ended
   December 31, 2002                                                                                           (33,829)
                                                            ----------------------------------------------------------
Balance at December 31, 2002                                  3,510,000          $ 3,510     $  115,884      $(121,495)
                                                            ==========================================================

</TABLE>

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

                                      F-4

<PAGE>
URANIUM STRATEGIES, INC.
(Development Stage Company)
STATEMENTS OF CASH FLOWS
For the years ended December 31, 2002 and 2001 and the period March 5, 1998
(date of inception) to December 31, 2002

<TABLE>
<CAPTION>

                                                                                                                  March 5, 1998 to
                                                                    December 31, 2002      December 31, 2001     December 31, 2002
<S>                                                                 <C>                    <C>                   <C>
CASH FLOWS FROM OPERATING ACTIVITIES
   Net loss                                                         $        (33,829)      $        (29,626)     $        (121,495)
   Adjustments to reconcile net loss to net cash
      provided by operating activities
         Contributions to capital - expenses                                   1,200                  1,200                  5,800
         Issuance of capital stock for expenses                                    -                      -                 46,507
         Changes in accounts payable                                           6,309                 20,224                 26,903
                                                                    ----------------------------------------------------------------
   Net Decrease in Cash from Operations                                      (26,320)                (8,202)               (42,285)

CASH FLOWS FROM INVESTING ACTIVITIES

CASH FLOWS FROM FINANCING ACTIVITIES
   Proceeds from issuance of common shares                                    50,000                      -                 67,087

   Net Increase (Decrease) in Cash                                            23,680                 (8,202)                24,802
   Cash at Beginning of Period                                                 1,122                  9,324                      -
                                                                    ----------------------------------------------------------------
   Cash at End of Period                                            $         24,802       $          1,122      $          24,802
                                                                    ================================================================

NON CASH FLOWS FROM OPERATING AND INVESTMENT ACTIVITIES
   Issuance of 866,667 common shares for securities - 1998          $              -       $              -      $           2,000
   Issuance of 110,000 common shares for services - 2000                           -                      -                 44,507
   Contributions of capital - expenses - 1998-2002                             1,200                  1,200                  5,800

</TABLE>

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

                                      F-5

<PAGE>
URANIUM STRATEGIES, INC.
(Development Stage Company)
NOTES TO FINANCIAL STATEMENTS

1. ORGANIZATION

The Company was incorporated under the laws of the State of Nevada on March 5,
1998 with authorized common stock of 20,000,000 shares at $0.001 par value.

The Company was organized for the purpose of acquiring and developing mineral
properties. From October 20, 2000 until August 31, 2002 the Company held mineral
claims with unknown reserves. Effective August 31, 2002, the Company did not
renew its mineral claims and has decided to evaluate opportunities in multiple
sectors while conserving cash. (See note 3 below.)

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Accounting Methods

The Company recognizes income and expenses based on the accrual method of
accounting.

Dividend Policy

The Company has not yet adopted a policy regarding payment of dividends.

Income Taxes

The Company uses the liability method of accounting for income taxes. Under the
liability method, deferred tax assets and liabilities are determined based on
the differences between the financial reporting and tax bases of assets and
liabilities and are measured using the enacted tax rates and laws that will be
in effect, when the differences are expected to reverse. An allowance against
deferred tax assets is recorded, when it is more likely than not, that such tax
benefits will not be realized.

On December 31, 2002, the Company had a net operating loss carry forward of
$121,495. The tax benefit of approximately $36,449 from the loss carry forward
has been fully offset by a valuation reserve because the use of the future tax
benefit is doubtful since the Company has no operations. The net operating
losses will expire from 2019 to 2023.

Basic and Diluted Net Income (Loss) Per Share

Basic net income (loss) per share amounts are computed based on the weighted
average number of shares actually outstanding. Diluted net income (loss) per
share amounts are computed using the weighted average number of common shares
and common equivalent shares outstanding as if shares had been issued on the
exercise of any common share rights unless the exercise becomes antidilutive and
then only the basic per share amounts are shown in the report.

Environmental Requirements

At the report date environmental requirements related to the mineral claims
acquired (note 3) are unknown and therefore an estimate of any future cost
cannot be made.

Capitalization of Mineral Claim Costs

Costs of acquisition, exploration, carrying, and retaining unproven properties
are expensed as incurred. Costs incurred in proving and developing a property
ready for production are capitalized and amortized over the life of the mineral
deposit or over a shorter period if the property is shown to have an impairment
in value.

                                      F-6
<PAGE>

Financial and Concentrations Risk

The Company does not have any concentration or related financial credit risk.

Revenue Recognition

Revenue is recognized on the sale and delivery of a product or the completion of
services provided.

Statement of Cash Flows

For the purposes of the statement of cash flows, the Company considers all
highly liquid investments with a maturity of three months or less to be cash
equivalents.

Financial Instruments

The carrying amounts of financial instruments, including cash and accounts
payable, are considered by management to be their estimated fair values.

Estimates and Assumptions

Management uses estimates and assumptions in preparing financial statements in
accordance with accounting principles generally accepted in the United States.
Those estimates and assumptions affect the reported amounts of the assets and
liabilities, the disclosure of contingent assets and liabilities, and the
reported revenues and expenses. Actual results could vary from the estimates
that were assumed in preparing these financial statements.

Recent Accounting Pronouncements

The Company does not expect that the adoption of other recent accounting
pronouncements will have a material impact on its financial statements.

3. ACQUISITION OF MINERAL CLAIMS

During 2002, the Company acquired 20 mining claims from Platoro West
Incorporated. On August 31, 2002, the purchase agreement was terminated, with no
further obligation, and the claims were abandoned.

The claims had not been proven to have a commercially minable ore reserve and
therefore all costs for exploration and retaining the properties were expensed.

4. CAPITAL STOCK

During July 2001 the Company completed a filing for an offering for the sale of
7,500,000 shares of common capital stock at $.05 per share. During January and
February 2002, 1,000,000 shares were sold for $50,000 and then the offering was
closed.

5. SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

Officers-directors and their families have acquired 31% of the outstanding
common stock and have made contributions to capital by payment of expenses of
$5,800.

A consulting fee of $21,357 was accrued for services rendered by the president
of the Company during 2002 which was paid in January 2003.

6. GOING CONCERN

                                      F-7
<PAGE>

The accompanying financial statements have been prepared assuming the Company
will continue as a going concern. The Company does not have the working capital
necessary to service its debt and for its planned activity, which raises
substantial doubt about its ability to continue as a going concern.

Continuation of the Company as a going concern is dependent upon obtaining
additional working capital and the management of the Company has developed a
strategy, which it believes will accomplish this objective through additional
equity funding, and long term financing, which will enable the Company to
operate in the coming year.














                                      F-8
<PAGE>


Item 8.  Changes in and Disagreements with Accountants on Accounting and
         Financial Disclosure

None.

                                    PART III

Item 9.  Directors and Executive Officers of the Registrant

The persons listed below are the current directors and officers of the Company:

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

Thomas Skimming        68       President and Director (Chairman of the Board)
Joel Roff              30       Director

Mr. Thomas Skimming has been the president and a director of Uranium Strategies
since September 2000. Mr. Skimming has been president an chief engineer of
Thomas Skimming & Associates Limited, a mineral exploration and mining
consulting firm. He also has been acting as an independent mining consultant
since 1972. From 1959 to 1967, he was the chief geologist for Selco Exploration
Company Limited, the Canadian subsidiary of Selection Trust of London, England.
From 1968 to 1972, he was chief exploration geologist for McIntyre Porcupine
Mines Limited which held a controlling interest in Falconbridge Nickel Mines
Limited and was responsible for the company's worldwide exploration activities,
principally in Canada, United States, Australia, New Zealand, Africa and
Southeast Asia. Mr. Skimming was the founder and vice-chairman and director of
Royex Gold Mining Corporation from 1974 to 1988, a director of International
Corona Resources Ltd. From 1984 to 1986 and the chairman, chief executive
officer and director of United Coin Mines Limited from 1987 through 1992. He was
also chief executive officer, president and a director of the general partner
and a director of the National Exploration Fund which invested in the
exploration and development of Canadian mineral resources.

Mr. Joel Roff has been a director of Uranium Strategies since September 2000.
Mr. Roff has five years experience in information technology as a market analyst
and quality assurance expert. From May 1996 to May 2000, Mr. Roff worked in
various analyst and quality assurance positions with Gavel & Gown Software in
Toronto, Ontario. From May 2000 to November 2001, Mr. Roff was the Quality
Assurance Manager for Hotline Communications in Toronto, Ontario. Mr. Roff is
currently the Quality Assuarnace Manager at Opencola. Prior to starting work at
Gavel & Gown, he was a student at the University of Toronto. Mr. Roff holds an
Honours Bachelor of Arts, Specialization in History from the University of
Toronto.

Item 10.  Executive Compensation

No executive officer currently receives any cash compensation or other benefits
from USI. Cash compensation amounts will be determined in the future based on
the services to be rendered and time devoted to the affairs of USI and the
availability of funds. Other elements of compensation, if any, will be
determined at that time or at other times in the future.

On September 30, 2000, USI issued an aggregate of 100,000 shares of common stock
to Messrs. Geisler and Roff as compensation for past services by those persons
during fiscal year 2000. These combined services have been valued by USI at
$5,000. Past services included developing and implementing corporate strategy
and the plan of operations, initiating contract negotiations with Platoro West
and initiating preparation of the public offering.

                                       8
<PAGE>

On October 2, 2000, the president of USI and his wife purchased an aggregate of
1,000,000 shares of common stock of USI for cash proceeds of $11,430. The fair
value of the shares of common stock was determined to be $0.05 per share or
$50,000. The difference of $38,570 was recorded as compensation.

Item 11.  Security Ownership of Certain Beneficial Owners and Management

The following table sets forth as of December 31, 2002, the name, number of
shares beneficially owned, and the percentage of the company's total outstanding
Common Stock owned by (i) each of the officers and directors of the company,
(ii) the officers and directors as a group, and (iii) each person known to be
the beneficial owner of more than 5% of the total outstanding shares of Common
Stock.

                                     Number of Shares             Percentage
           Name                   Beneficially Owned(1)       Beneficially Owned
           ----                   ---------------------       ------------------

Thomas Skimming (2)(3)                  1,000,000                    28.5%
Joel Roff (2)                            100,000                     2.8%
All officers and directors
   as a group (2 persons)               1,100,000                    31.3%

(1)      Based on 3,510,000 common shares outstanding on February 28, 2002.

(2)      The address of each of these persons is c/o Uranium  Strategies Inc.,
         31 Walmer Rd., Suite 6, Toronto,  Ontario,  Canada,  M5R 2W7.

(3)      Includes 500,000 shares owned of record by Bistra Kileva, the wife of
         Thomas Skimming.

Item 12.  Certain Relationships and Related Transactions

None.

                                     PART IV

Item 13.  Exhibits, Financial Statement Schedules and Reports on Form 8-K

            (a)        Exhibits Filed.

                       See Exhibit Index appearing later in this Report.

            (b)        Reports on Form 8-K.

                       Form 8-K dated December 11, 2001. Disclosure required by
                       Item 4, Changes in Registrants Certifying Accountant for
                       the change in the Company's accountant.

                       Form 8-K/A dated December 13, 2001. Amendment to Item 4,
                       Changes in Registrants Certifying Accountant and Item 7,
                       Exhibits, filing letter of dismissed accountants
                       previously reported on December 11, 2001.

                                       9
<PAGE>



                                   SIGNATURES

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

                               URANIUM STRATEGIES INC.
                               (Registrant)

Dated: September 10, 2003

                               By:   /S/ Thomas Skimming
                                     --------------------------
                               Name: Thomas Skimming
                               Title:President

Pursuant to the requirements of the Securities Exchange Act of 1934, this Report
has been signed below by the following persons on behalf of the Registrant and
in the capacities and on the dates indicated.

Name                      Title                             Date

/S/ Thomas Skimming       President, Director              September 10, 2003
-------------------       (Principal Financial
Thomas Skimming           and Accounting Officer)

/S/ David Roff            Director                         September 10, 2003
-----------------------
Joel Roff


<PAGE>



                                  EXHIBIT INDEX

                                     Incorporated By
Exhibit                              Reference from        No. in
Number            Description           Document          Document       Filings

3.1    Certificate of Incorporation       A                3.1
3.2    Bylaws                             A                3.2
4.1    Form of Common Stock Certificate   A                4.1
31.1   Section 302 Certification                                         Filed
                                                                        Herewith
32.1   Section 906 Certification                                         Filed
                                                                        Herewith
                                                                         Filed
99.1   Risk Factors                                                     Herewith

A. Registrant's Registration Statement on Form SB-2 (Registration Statement No.
   333-53186).