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, 2000

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

                        Commission file number 000-28251

                             US DATA AUTHORITY, INC.
                 (Name of Small Business Issuer in Its Charter)

         FLORIDA                                                65-0693150
(State or Other Jurisdiction of                              (I.R.S. Employer
Incorporation or Organization)                              Identification No.)

                          3500 NW BOCA RATON BOULEVARD

                                  BUILDING 811
                            BOCA RATON, FLORIDA 33431
               (Address of Principal Executive Offices)(Zip Code)

                                 (561) 368-0032
                (Issuer's Telephone Number, Including Area Code)

Securities  registered  under  Section 12(b) of the  Securities  Exchange Act of
1934:

Title of Each Class                   Name of Each Exchange on Which Registered

None                                  None

Securities  registered  under  Section 12(g) of the  Securities  Exchange Act of
1934:

                     COMMON STOCK, PAR VALUE $.02 PER SHARE

                                (Title of Class)

Check  whether the  registrant:  (1) filed all  reports  required to be filed by
Section 13 or 15(d) of the  Securities  Exchange  Act of 1934 during the past 12
months (or for such shorter period that the registrant was required to file such
reports),  and (2) has been subject to such filing  requirements for the past 90
days.
Yes [X]  No [ ]

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

State registrant's revenues for the year ended December 31, 2000:  $124,100

State the aggregate market value of the voting stock held by  non-affiliates  of
the  registrant  computed  by  reference  to the closing bid price of its Common
Stock  as  reported  by the OTC  Bulletin  Board  on  April  13,  2001  ($1.06):
$22,262,958
<PAGE>

                      APPLICABLE ONLY TO CORPORATE ISSUERS


The number of shares  outstanding of the  registrant's  Common Stock,  par value
$.02 per share (the "Common Stock"), as of April 193, 2001, was 21,002,791.

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

                       DOCUMENTS INCORPORATED BY REFERENCE


                                      None.

         The Annual Report on Form 10-KSB contains  forward  looking  statements
then the meeting at Section 27(a) of the Securities Act of 1933, as amended, and
Section 21(e) of the Securities Exchange Act of 1934. All statements, other than
the statements of historical fact, included or incorporated by reference in this
Form 10-KSB are  forward  looking  statements.  In  addition,  when used in this
document the words "anticipate,"  "estimate," "project," and similar expressions
are intended to identify  forward  looking  statements.  These  forward  looking
statements  are  subject  to  certain  risks,   uncertainties  and  assumptions,
including those risks  described in the Company's  Annual Report on Form 10-KSB.
Should  one or more of  these  risks or  uncertainties  materialize,  or  should
underlying assumptions prove to be incorrect, actual results may vary materially
from those  anticipated,  estimated or projected.  Although the Company believes
that  the  expectations  we  include  in such  forward  looking  statements  are
reasonable,  we cannot  assure  you that  these  expectations  will  prove to be
correct.  The following  discussion  and analysis  should be read in conjunction
with the financial  statements  of the Company and the notes  thereto  appearing
elsewhere.
<PAGE>

                                     PART I

Item 1.  Description of Business.

Overview.
--------

         US Data Authority,  Inc., is a network service  provider of high speed,
low cost  reliable  communications  with a move to provide  secure  on-line data
storage. The Company offers a comprehensive  communications portfolio built on a
hybrid network,  including all data services providing data  transmission,  data
storage,  data  maintenance,  and  content  delivery.  US Data  Authority,  Inc.
delivers  coast-to-coast  fiber  optic  access  to  the  Internet  using  AT&T's
integration,  Cable and Wireless's  Internet  network,  and WorldCom's  Internet
network in selected Company network access points (NAPS).  A third network,  the
Company's own Asynchronous Transfer Mode (ATM) Network,  links information using
the Company's  national  network of 38 NAPS located  around North  America.  The
Company is building a series of interconnected,  nationally  distributed network
of  information  super  stations  that will make it possible for  businesses  to
access an extensive array of software, video and storage capabilities.

         The  Company is  connecting  its network  equipment  with AT&T NAPS and
connections are still available to utilize other carriers.  Direct access to the
Internet (T1s or T3s) must first go through a local carrier before connecting to
the Internet or any other national  networks.  This portion of the bandwidth fee
is called the  "local  loop."  AT&T is the first  provider  to offer  businesses
seamless  end-to-end  service on a single  platform.  The new  service  provides
businesses with one vendor nationally for standards based,  end-to-end activity.
As part of its agreement with AT&T, the Company provides local loop bundled into
its price, which allows it to offer its customers competitive rates.

         In addition,  unlike  other  carriers,  the Company  offers a flat rate
non-mileage  sensitive  local  loop.  This  means that  regardless  of how far a
business is located from the Company NAPS, they will pay one price.

         The Network Operating Center is the centralized network manager for the
Company's  NAPS. The NAPs are collocated  with AT&T  facilities,  while the NAPS
provide  24 by 7 network  management  and  service  to the  Company's  customers
equipment communications.

         US Data  Authority,  Inc. had engaged in the real estate business since
1996 under the name  SunVest  Resorts,  Inc." In late April  2000,  the  Company
distributed all of its assets (subject to liabilities) to its shareholders,  and
on May 1, 2000, affected a merger of US Data Authority,  Inc. ("Former USDA"), a
privately held Florida  corporation.  On June 23, 2000, the Company  changed its
name to US Data Authority, Inc. The merger was accounted for financial reporting
purposes as a purchase.

Products and Services

         Network  Connectivity.  The Company sells T1s and T3s connections  that
provide high speed secure redundant  (multiple  carrier) access  nationwide.  It
does this at 38, of a planned 40,  locations with network access points over the
networks of up to three  independent  carriers,  AT&T, Cable and Wireless and/or
WorldCom.  The Company  executed a three-year  contract with AT&T on January 10,
2001, with two five-year options, to sell bandwidth.
<PAGE>

         Virtual Private  Networks.  The Company's  virtual private networks can
connect the Company's multiple sites over its ATM/Frame Relay Network located in
AT&T  collocation  facilities.  These  networks  allow  companies to communicate
without the high cost of dedicated lines, providing a private network over fiber
optic phone lines connecting multiple locations.

         With the Company's virtual private  networks,  organizations can extend
the  availability  of their  network to remote  users,  customers  or vendors by
enabling  them  to  hook  into a  network  without  making  huge  infrastructure
investments. The Company's private networks are encrypted for added security.

On-Line Data Storage.
--------------------

         The Company  anticipates  this as a second  component  of its  business
plan.  By first having its own network on which to provide data  transport,  the
Company  can provide  online data  storage  service to all of its  customers  to
connect with their  computer  systems,  or simply plug-in to store and/or access
data. The Company executed a contract with Hitachi Data Systems  Corporation,  a
subsidiary  of Hitachi,  Ltd, on March 30,  2001,  pursuant to which the Company
will purchase  Hitachi's  hardware for data storage,  and pay for this equipment
through a revenue-sharing program. The program will be supported by sales of the
Company's   services   by  Company   representatives,   agents  and  by  Hitachi
representatives  who will market the Company's  services to their  existing data
storage customers as a "disaster recovery" back-up solution.


Marketing Strategy.
------------------

         The Company will continue to market  bandwidth sales and its new online
data storage  solution  through its direct sales force.  Supporting  this effort
will be a marketing  program  utilizing  computer and  technology  resellers and
agents,  all offering the Company's full suite of low cost,  high-speed  network
connections  to  small-to-medium-sized  businesses and  enterprises  (SMB/SMEs).
Currently the Company  employs one individual in its marketing  department.  The
Company will stress the importance of controlling data  transmission by reliance
on the USDA  network,  while  emphasizing  the  cost  effectiveness  of  storage
information  online, and backing up information  through utilization of the USDA
data storage solution.

Strategic Alliances

         The Company developed a strategic alliance when it executed its network
agreement with AT&T.  Additionally,  its entered a strategic alliance early with
Cisco  Systems,  provider  of  the  hardware  used  to  route  and  manage  data
transmissions  throughout  the USDA  network.  USDA is a Cisco  Powered  Network
(CPN), and the first to deploy Cisco's content delivery  solution,  which speeds
delivery of video streaming and adds efficiency and speed to data  transmissions
throughout the network.  Cisco  Enterprise sales personnel who recommend USDA to
their customers receive bonuses.


<PAGE>
Item 2.  Description of Property

         The Company does not own any real property. The Company's 10,400 square
feet of executive offices are located at 3500 NW Boca Raton Boulevard,  Building
811, Boca Raton,  FL 33431.  The Company has a separate lease agreement for each
of the seven offices comprising the space. Each lease is for a one year term and
renews  automatically for additional one year terms unless a termination  notice
is provided by either the Company or the landlord.  The termination dates of the
leases are staggered  throughout  the year 2001. The current total lease payment
due under all of the leases  combined  is $9,471 per  month.  In year 2000,  the
Company paid a total of $63,120 in lease payments.  The Company and the landlord
have orally  agreed to roll all seven  leases into one master lease in September
2001. The terms of the master lease are currently being negotiated.

Item 3.  Legal Proceedings.

         The Company is a party to the proceeding  captioned  Southern  Electric
Supply Co., Inc., Rexel Consolidated, f/d/b/a Consolidated Electric Supply v. US
Data  Authority,  Inc.,  Case No.  CIO-01-91,  in the Circuit Court of the Ninth
Judicial Circuit in Orange County,  Florida (the  "Proceeding").  The Proceeding
was filed by the Plaintiffs on or about January 16, 2001.  Plaintiff's complaint
alleges that the Company owes  Plaintiff  $149,276.54  plus interest for network
equipment  and hardware,  and related  supplies.  A Clerk's  default was entered
against  the  Company on  February  20,  2001,  for failing to file an answer to
Plaintiff's complaint.  On March 5, 2001, the Company filed a Verified Motion to
Vacate  Default.  The  default  was  vacated on April 5, 2001.  The  Company has
acknowledged  an account  payable to Plaintiff,  and all additional  proceedings
have been stayed while the parties  attempt to negotiate a settlement  agreement
regarding the amount of the account payable and a schedule for repayment.

         The Company was a defendant in a matter  concerning common stock voting
rights issued to a former  officer.  The former  officer was the original  proxy
holder of 6,066,625  shares.  Subsequent  to the  dismissal of the Company,  the
plaintiff  continues to pursue relief against the other  defendants.  Management
will vigorously  defend any claims made against the Company  resulting from this
action which may arise.

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

         No matter was submitted to a vote of security holders during the fourth
quarter of the fiscal year covered by this report.
<PAGE>

                                     PART II

Item 5.  Market for Common Equity and Related Stockholder Matters.

         The  Company's  Common Stock is traded on the OTC Bulletin  Board under
the symbol  "USDA.OB".  The following table sets forth the range of high and low
bids for the Common Stock within the last eight  quarters as reported by NASDAQ.
These quotations reflect inter-dealer prices, without retail mark-up,  mark-down
or commission and may not represent actual transactions.

Period                                      High                       Low

First Quarter ended 3/31/99                 $2.500                     $0.500
Second Quarter ended 6/30/99                $3.000                     $1.500
Third Quarter ended 9/30/99                 $2.875                     $1.875
Fourth Quarter ended 12/31/99               $1.500                     $0.625

First Quarter ended 3/31/00                 $3.310                     $3.300
Second Quarter ended 6/30/00                $11.00                     $8.500
Third Quarter ended 9/30/00                 $11.00                     $8.250
Fourth Quarter ended 12/31/00               $5.250                     $2.000

         As of April 13, 2000, the Company had 799 shareholders of record.

         The Company has never paid a cash dividend. The Company intends to keep
future earnings, if any, to finance the expansion of its business,  and does not
anticipate that any cash dividends will be paid in the foreseeable  future.  The
Company's  future  payment of  dividends  will depend on its  earnings,  capital
requirements, expansion plans, financial condition and other relevant factors.

         In August 2000, the Company raised  approximately  $1,098,000 through a
private  placement  of units  consisting  of one share of  Common  Stock and one
Common Stock  purchase  warrant (a "Unit") at a per Unit purchase  price ranging
from $2.00 to $3.00.  The exercise price of the warrants is $7.25. Six investors
participated in the offering,  each of which was an "accredited investor" within
the meaning of Rule 501(a) of Regulation D. The offering was made in reliance on
the exemption  from the  registration  requirements  under the Securities Act of
1933  set  forth in  Section  4(2) of such  Act and  Rule  506 of  Regulation  D
promulgated thereunder.

         On October  25,  2000,  the  Company  raised  approximately  $1,000,000
through the issuance of 12%  convertible  promissory  notes to Melvyn Siegel,  a
director,  Richard Lucibella, a director,  Joseph E. Shamy, an original investor
who would later be named the Company's Chief Executive  Officer and President in
January 2001, and Harvey Birdman, each an "accredited  investor".  The aggregate
principal amount of the Debentures is $1,000,000,  the term of the Debentures is
one year.  Interest is due and  payable in equal  monthly  installments,  with a
balloon payment of principal and interest at the end of the term.  Payment under
the notes is secured  by a security  interest  in all of the  Company's  assets,
pursuant to the terms of a security  agreement  executed by the Company and each
of the four investors. The principal due under the Debentures is convertible, at
the option of the  holder,  into  shares of the  Company's  Common  Stock at the
conversion  rate of $1.00 per share of Common  Stock.  The  offering was made in
reliance  on  the  exemption  from  the  registration   requirements  under  the
Securities  Act of 1933 set  forth in  Section  4(2) of such Act and Rule 506 of
Regulation D promulgated thereunder.

<PAGE>

         Between  January 1, 2001,  and February 15,  2001,  the Company  raised
$750,000  through the issuance of promissory  notes and  convertible  promissory
notes to a shareholder  group. The promissory  notes and convertible  promissory
notes bear  interest at rates  ranging  from 10% to 12%, are  collateralized  by
Company assets and mature at varying dates through March 2002.  Certain of these
promissory  notes contain  options to convert to common stock at $1.25 per share
for the first  thirty days;  $.75 per share  within  sixty days;  $.40 per share
within  ninety days and $.20 per share after the first ninety days.  None of the
foregoing options have been exercised. Certain of the other promissory notes can
be  converted  into  preferred  stock at $.20 per  share.  The  preferred  stock
converts to common  stock on a one for one basis on February 15, 2004. A special
feature  permits that the preferred  convertible  stock shall have voting rights
equal to ten times the representative common stock. The voting rights would then
equate to about  12,500,000  voting  right  shares upon full  conversion  of the
promissory  notes. On March 8, 2001,  those  promissory notes with the foregoing
convertible  feature were exercised and 1,250,000 shares of preferred stock will
be issued.  The offerings  were made to accredited  investors in reliance on the
exemption from the  registration  requirements  under the Securities Act of 1933
set forth in Section 4(2) of such Act and Rule 506 of  Regulation D  promulgated
thereunder.

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

Overview

         Since the  refocus  of our  operations  in May 2000,  the  Company  has
reverted to a developmental stage company.  Since May 2000, the Company has been
executing its strategic business plan to develop its Internet network nationwide
through equipment  installations and developing a sales network.  Management has
been developing new relationships with major equipment suppliers as part of this
plan.

         The Company is subject to all the risks inherent in  establishment of a
developmental stage enterprise.  To address these risks, the Company must, among
other  things,  identify  and  establish  customer  relationships,   enter  into
successful  supplier  arrangements,  expand its network,  respond to competitive
developments,  and attract, retain and motivate qualified personnel.  Failure to
achieve one or more of these goals could have a material adverse effect upon the
Company's business, operating results and financial condition.

Results of Operations

         The  Company  reported  a net loss of  $6,344,900  for the  year  ended
December  31,  2000,  which  includes  income from  discontinued  operations  of
$234,900.


<PAGE>

         Operating expenses included $2,013,100 of technology and content,  less
miscellaneous revenues of $124,100,  compensation related expense of $2,623,200,
and marketing and sales expense of $767,400 and general administrative  expenses
of $830,600. As a result of the foregoing, the Company incurred a loss per share
of common  stock  from  continuing  operations  of $0.48 on a basic and  diluted
basis.

         As  reported on the  statement  of cash  flows,  the  Company  incurred
deficient cash flows from continuing operations of $2,902,300.

Liquidity and Capital Resources

         As  of  December  31,  2000,  the  Company  had  $61,800  in  cash  and
equivalents.  The  Company  does not have any  available  lines of  credit.  The
Company has a negative  working  capital of  $5,097,800 on December 31, 2000. To
date, the Company's  principal  source of working  capital  funding has been and
continues  to  be  a  group  of  shareholders  who  have  provided  the  Company
approximately  $1,850,000 from May 1 to April 10, 2001. In addition, the Company
sold an aggregate of 11,018,708  shares of common stock for a  consideration  of
$3,600,190.

         In the first  quarter  of 2001,  the  Company  instituted  an  informal
restructuring  plan, to reduce short term debt and certain costs of  operations.
Employee  terminations and other cost reductions were implemented.  In addition,
management has been negotiating with two of its principal suppliers for improved
debt terms of its outstanding unsecured short term debt. One of the negotiations
is with a supplier  to extend the  current  $517,070  amount due over a 12 to 18
month period.  The other  negotiation is to obtain a substantial  credit against
the current  $2,617,854  outstanding  balance.  There is no assurance that these
negotiations  will be  successful.  If  management  is  unable  to  successfully
renegotiate  these  two  principal  agreements,  the  Company  may be  forced to
materially modify its plan of operations.

         The  Company  owes  approximately  $600,000  for  back  payroll  taxes.
Management  is  currently  attempting  to negotiate  with the  Internal  Revenue
Service to establish a payment plan for the back payroll taxes.  There can be no
assurance that the Company will be able to successfully  reach an agreement with
the Internal Revenue Service.

         In addition to the items  disclosed  above,  management  of the Company
anticipates  the Company will acquire  substantial  working capital for the year
2001 in order to meet its plan of operations. There can be no assurance that the
Company will be successful, that the plan operations will be achieved or that it
will obtain  financing on favorable  terms or any  financing at all.  Should the
Company  be unable to  obtain  financing  or  financing  sufficient  to meet its
business  operations,  the Company may be forced to materially alter its plan of
operations or continue further restructuring of its obligations and operations.

         The Company's financial statements have been prepared assuming that the
Company  will  continue  as a  growing  concern.  The  auditor's  report  on the
Company's 2000 Financial  Statements state that "the Company's  recurring losses
from continued  operations and limited capital resources raise substantial doubt
about the  Company's  ability to  continue  as a growing  concern."  The Company
continues to explore the possibility of raising funds through available sources,
including,  but not limited to, equity and debt markets.  It is uncertain if the
Company will be successful at raising funds through these sources.

<PAGE>
Item 7.  Financial Statements.

         See  "Index  to  Financial  Statements"  for the  financial  statements
included in this Form 10-KSB.

<PAGE>

                             US DATA AUTHORITY, INC.
                         (FORMERLY SUNVEST RESORTS, INC)
                      (A COMPANY IN THE DEVELOPMENT STAGE)
                     YEARS ENDED DECEMBER 31, 2000 AND 1999

                                    CONTENTS
                                                                  PAGE


Independent auditors' report                                    F-1 - F-2

Financial statements:
  Balance sheet                                                    F-3

  Statements of operations                                         F-4

  Statements of shareholders' deficit                              F-5

  Statements of cash flows                                      F-6 - F-7

  Summary of significant accounting policies                    F-8 - F-10

  Notes to financial statements                                F-11 - F-21
<PAGE>
                          INDEPENDENT AUDITORS' REPORT



Board of Directors and Shareholders
US Data Authority, Inc.
(Formerly Sunvest Resorts, Inc.)
Boca Raton, Florida

We have  audited  the  accompanying  balance  sheet of US Data  Authority,  Inc.
(Formerly  Sunvest  Resorts,  Inc.) (a company in the  development  stage) as of
December  31,  2000 and the  related  statements  of  operations,  shareholders'
deficit  and cash flows for the years ended  December  31, 2000 and 1999 and the
amounts for the year ended December 31, 2000 included in the  cumulative  period
from  inception of development  stage (May 1, 2000) to December 31, 2000.  These
financial  statements are the  responsibility of the Company's  management.  Our
responsibility  is to express an opinion of these financial  statements based on
our audits.

We  conducted  our  audits  in  accordance  with  generally   accepted  auditing
standards.  Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatements. 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 financial statement 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 US Data  Authority,  Inc.
(Formerly  Sunvest Resorts,  Inc.) at December 31, 2000 and the results of their
operations  and their cash flows for the years ended  December 31, 2000 and 1999
and the amounts for the year ended  December 31, 2000 included in the cumulative
period from inception of development stage (May 1, 2000) to December 31, 2000 in
conformity with generally accepted accounting principles.

                                                                             F-1
<PAGE>

Board of Directors and Shareholders
US Data Authority, Inc.
(Formerly Sunvest Resorts, Inc.)
Boca Raton, Florida

Page 2

The accompanying  financial  statements have been prepared  assuming the Company
will continue as a going  concern.  As discussed in Note 3 of notes to financial
statements,  the Company has reported  working capital and equity  deficiencies,
has  experienced  net losses for the year ended  December 31, 2000 of $6,344,900
and  has  experienced  a loss  from  continuing  operations  from  inception  of
development stage (May 1, 2000) to December 31, 2000 of $6,579,800. In addition,
the Company's principal sources of cash flows have been through the sales of its
common  shares  ($3,601,900)  and from  borrowings  under  financing  activities
($1,100,000).  No assurances  can be given to the  continuation  of the sales of
securities  or  continued  ability to obtain short or  long-term  borrowings  to
maintain the Company's present cash flow requirements.  The Company's  recurring
losses from continued operations and limited capital resources raise substantial
doubt about the Company's  ability to continue as a going concern.  Management's
plans  concerning  these  matters  are  also  described  in Note 3 of  notes  to
financial  statements.  To  date  the  Company  has  been  dependent  on a major
shareholder group for debt and equity financing. There is no assurance that this
shareholder  group will continue as a source of new funds. The Company's ability
to achieve the elements of its business  plan,  which maybe  necessary to permit
the realization of assets and satisfaction of liabilities in the ordinary course
of business,  is uncertain.  All these conditions raise  substantial doubt about
the Company's ability to continue as a going concern.  The financial  statements
do not  include  any  adjustments  that might  result  from the outcome of these
uncertainties.



s/Hixson, Marin, Powell & DeSanctis, P.A.



North Miami Beach, Florida
April 10, 2001


                                                                             F-2
<PAGE>
                             US DATA AUTHORITY, INC.
                        (FORMERLY SUNVESTS RESORTS, INC.)
                      (A COMPANY IN THE DEVELOPMENT STAGE)
                        BALANCE SHEET - DECEMBER 31, 2000




                                     ASSETS

Current assets:
  Cash and equivalents                                              $    61,800

  Accounts receivable, less allowance
   for doubtful collections of $2,600.                                   62,300

  Advances to officer and employees                                     145,000

  Other current asset                                                     5,200
                                                                    ------------

             Total current assets                                       274,300

Equipment under capitalized leases                                    2,287,400

Leaseholds, furniture, fixtures and equipment                         1,400,100

Excess of costs over net assets acquired                                 99,400

Other assets                                                             55,400
                                                                    ------------

                                                                    $ 4,116,600
                                                                    ============

                      LIABILITIES AND SHAREHOLDERS' DEFICIT

Current liabilities:
  Current portion of capitalized lease obligations                   $  634,800

  Accounts payable                                                    2,730,000

  Accrued liabilities                                                   882,000

  Notes payable, shareholders                                         1,100,000

  Due to related party                                                   25,300
                                                                    ------------

             Total current liabilities                                5,372,100

Capitalized lease obligations, less current portion                   1,773,000
                                                                    ------------

                                                                      7,145,100
                                                                    ------------

Discontinued operations, summary of certain
risks  and uncertainties, transactions with
related parties, commitments and subsequent
events (Notes 2, 3, 6, and 10)

Shareholders' deficit:
  Preferred stock, $1.00 par; authorized 30,000,000
  shares; no shares issued in 2000 and 1999                                   -

  Common stock, $.02 par, authorized 100,000,000
  shares; issued and outstanding 20,000,159 shares
  in 2000 and 2,500,000 shares in 1999                                  400,000

  Capital in excess of par                                            4,081,500

  Deficit                                                              (930,200)

  Accumulated deficit during the development stage                   (6,579,800)
                                                                    ------------

                                                                     (3,028,500)
                                                                    ------------

                                                                    $ 4,116,600
                                                                    ============


        Read the accompanying summary of significant accounting policies
        and notes to financial statements, both of which are an integral
                       part of this financial statement.


                                                                             F-3
<PAGE>
<TABLE>
<CAPTION>
                                            US DATA AUTHORITY, INC.
                                       (FORMERLY SUNVEST RESORTS, INC.)
                                     (A COMPANY IN THE DEVELOPMENT STAGE)
                                         STATEMENTS OF OPERATIONS
                   YEARS ENDED DECEMBER 31, 2000 AND 1999 AND CUMULATIVE AMOUNTS FROM INCEPTION OF
                           DEVELOPMENT STAGE (MAY 1, 2000) THROUGH DECEMBER 31, 2000

                                                                                               Cumulative
                                                                                              Amounts From
                                                                  2000            1999      Inception To-Date
                                                             -------------------------------------------------
<S>                                                          <C>              <C>             <C>
Operating expenses:
  Technology and content, less miscellaneous revenues
    of $ 124,100.                                            $    2,013,100   $          -    $     2,013,100

  Compensation and related benefits                               2,623,200              -          2,623,200

  Marketing and sales                                               767,400              -            767,400

  General and administrative                                        830,600              -            830,600

  Interest                                                           80,400              -             80,400

  Rent                                                               63,100              -             63,100

  Amortization and depreciation                                     227,200              -            227,200

                                                             -------------------------------------------------
                                                                  6,605,000              -          6,605,000

Less interest income                                                 25,200              -             25,200
                                                             -------------------------------------------------

Loss from continuing operations                                   6,579,800              -          6,579,800

Income (loss) from discontinued operations, net                     234,900     (2,224,000)                 -
                                                             -------------------------------------------------

Net loss                                                     $   (6,344,900)  $ (2,224,000)   $    (6,579,800)
                                                             =================================================

Income (loss) per share of common stock:
  From continuing operations
    Basic                                                    $        (0.48)  $          -    $         (0.48)
                                                             =================================================

    Diluted                                                  $        (0.48)  $          -    $         (0.48)
                                                             =================================================

  From discontinued operations
    Basic                                                    $         0.02   $      (0.90)   $             -
                                                             =================================================

    Diluted                                                  $         0.02   $      (0.90)   $             -
                                                             =================================================

Net (loss) per share of common stock:

  Basic                                                      $        (0.46)  $      (0.90)   $         (0.48)
                                                             =================================================

  Diluted                                                    $        (0.46)  $      (0.90)   $         (0.48)
                                                             =================================================

Weighted average common shares outstanding                       13,795,893      2,475,208         13,795,893
                                                             =================================================



                        Read the accompanying summary of significant accounting policies and
                            notes to financial statements, both of which are an integral
                                          part of this financial statement.

                                                                                                          F-4
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                                                                       US DATA AUTHORITY, INC.
                                                                  (FORMERLY SUNVEST RESORTS, INC.)
                                                                (A COMPANY IN THE DEVELOPMENT STAGE)
                                                                 STATEMENTS OF SHAREHOLDERS' DEFICIT
                                           YEARS ENDED DECEMBER 31, 2000 AND 1999 AND CUMULATIVE AMOUNTS FROM INCEPTION OF
                                                      DEVELOPMENT STAGE (MAY 1, 2000) THROUGH DECEMBER 31, 2000


                                                                                                                        Accumulated
                                                   Preferred Stock            Common Stock         Capital            Deficit During
                                                ----------------------------------------------    in excess             Development
                                      Total      Shares       Amount       Shares     Amount       of par    Deficit      Stage
                                   -------------------------------------------------------------------------------------------------
<S>                                <C>          <C>         <C>         <C>       <C>          <C>        <C>            <C>
Balance, beginning, as
  originally reported              $  (841,900)       -     $     -     8,877,532 $   177,500  $  579,600 $ (1,599,000)  $        -

Reverse stock split of 3.6:1                 -                         (6,411,551)   (128,200)    128,200
                                   -------------------------------------------------------------------------------------------------

Balance, beginning, as
  re-stated                           (841,900)       -           -     2,465,981      49,300     707,800   (1,599,000)           -

Year ended December 31, 1999

Add (deduct):

  Common stock issued for
    professional services              122,500                             34,019         700     121,800

  Net loss from discontinued
    operations                      (2,224,000)                                                             (2,224,000)
                                   -------------------------------------------------------------------------------------------------

Balance, December 31, 1999          (2,943,400)          -        -     2,500,000      50,000     829,600   (3,823,000)           -

Year ended December 31, 2000

Add (deduct):

  Issuance of common stock
    to original shareholders
    of Company acquired                      -                         10,481,451     209,600    (209,600)

  Proceeds from sale on common
    stock                            3,601,900                          7,018,708     140,400   3,461,500

  Deficits of subsidiaries
    spun-off as a dividend
    to shareholders                  2,657,900                                                               2,657,900

  Net loss from continuing
    operations (development
    stage) and net income
    from discontinued
    operations                      (6,344,900)                                                                234,900   (6,579,800)
                                   -------------------------------------------------------------------------------------------------

Balance, ending                    $(3,028,500)          -  $     -    20,000,159 $   400,000  $4,081,500  $  (930,200) $(6,579,800)
                                   =================================================================================================


                                Read the accompanying summary of significant accounting policies and
                                   notes to financial statements, both of which are an integral
                                                 part of this financial statement.


                                                                                                                                 F-5
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                             US DATA AUTHORITY, INC.
                        (FORMERLY SUNVEST RESORTS, INC.)
                      (A COMPANY IN THE DEVELOPMENT STAGE)
                            STATEMENTS OF CASH FLOWS
 YEARS ENDED DECEMBER 31, 2000 AND 1999 AND CUMULATIVE AMOUNTS FROM INCEPTION OF
            DEVELOPMENT STAGE (MAY 1, 2000) THROUGH DECEMBER 31, 2000


                                                                                              Cumulative
                                                                                             Amounts From
                                                                      2000        1999     Inception To Date
                                                                  -------------------------------------------
<S>                                                               <C>           <C>          <C>
Cash flows from operating activities:
  Sources of cash:
    Ancillary revenues                                            $     75,500  $        -   $        75,500
    Interest                                                            22,800           -            22,800
                                                                  -------------------------------------------

                                                                        98,300           -            98,300
                                                                  -------------------------------------------

  Uses of cash:
    Technology and content                                             153,600           -           153,600
    Compensation and related benefits                                1,919,000           -         1,919,000
    Marketing, selling, general and administrative                     874,900           -           874,900
    Rent                                                                53,100           -            53,100
    Cash used in discontinued operations, net                          762,600     995,500                 -
                                                                  -------------------------------------------

                                                                     3,763,200     995,500         3,000,600
                                                                  -------------------------------------------

Cash (used-in) operating activities                                 (3,664,900)   (995,500)       (2,902,300)
                                                                  -------------------------------------------

Cash flows from investing activities:
  Sources of cash:
    Officer and employees loan repayments                               64,600           -            64,600
    Customer security deposits                                          59,000           -            59,000
    Cash provided from discontinued operations, net                    564,400           -                 -
                                                                  -------------------------------------------

                                                                       688,000           -           123,600
                                                                  -------------------------------------------

  Uses of cash:
    Advances to officers and employees                                 271,200           -           271,200
    Purchases of leaseholds, furniture, fixtures and equipment,
      less amount financed                                           1,196,700           -         1,196,700
    Payments to related party                                           25,300           -            25,300
    Rent, utility and other security deposits                           55,400           -            55,400
    Cash used in discontinued operations                                     -     805,000                 -
                                                                  -------------------------------------------

                                                                     1,548,600     805,000         1,548,600
                                                                  -------------------------------------------

Cash (used-in) investing activities                                   (860,600)   (805,000)       (1,425,000)
                                                                  -------------------------------------------

Cash flows from financing activities:
  Sources of cash:
    Proceeds from:
      Sales of common stock                                          3,601,900           -         3,601,900
      Shareholders loans                                             1,100,000           -         1,100,000
    Cash provided from discontinued operations, net                    189,000     956,900                 -
                                                                  -------------------------------------------

                                                                     4,890,900     956,900         4,701,900
                                                                  -------------------------------------------

  Uses of cash:
    Payment of short term debt                                         312,800           -           312,800
                                                                  -------------------------------------------

Cash provided by financing activities                                4,578,100     956,900         4,389,100
                                                                  -------------------------------------------

Increase (decrease) in cash and equivalents                             52,600    (843,600)           61,800

Cash and equivalents, beginning                                          9,200     852,800                 -
                                                                  -------------------------------------------

Cash and equivalents, ending                                          $ 61,800     $ 9,200          $ 61,800
                                                                  ===========================================




                   Read the accompanying  summary of significant  accounting  policies and
                   notes to financial statements, both of which are an integralpart of this
                                              financial statement.

                                                                                                         F-6
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                                                     US DATA AUTHORITY, INC.
                                                (FORMERLY SUNVEST RESORTS, INC.)
                                             (A COMPANY IN THE DEVELOPMENT STAGE)
                                             STATEMENTS OF CASH FLOWS (CONTINUED)
                          YEARS ENDED DECEMBER 31, 2000 AND 1999 AND CUMULATIVE AMOUNTS FROM INCEPTION OF
                                    DEVELOPMENT STAGE (MAY 1, 2000) THROUGH DECEMBER 31, 2000


                                                                                                                Cumulative
                                                                                                               Amounts From
                                                                                   2000             1999     Inception To Date
                                                                           ---------------------------------------------------
<S>                                                                        <C>               <C>               <C>
Reconciliation of net (loss) to cash (used-in) operating activities:

Net (loss)                                                                 $    (6,344,900)  $   (2,224,000)   $   (6,344,900)
                                                                           ---------------------------------------------------

Adjustments to reconcile net (loss) to cash (used-in) operating activities:
  Amortization and depreciation                                                    227,200                -           227,200

  Discontinued operations, net                                                    (997,500)       1,228,500          (234,900)

  Allowance for doubtful collections                                                 2,800                -             2,800

  Changes in assets and liabilities:
    Accounts receivable                                                            (48,800)               -           (48,800)

    Advances to officers and employees                                              66,400                -            66,400

    Accounts payable                                                             2,640,100                -         2,640,100

    Accrued liabilities                                                            789,800                -           789,800
                                                                           ---------------------------------------------------

                                                                                 2,680,000        1,228,500         3,442,600
                                                                           ---------------------------------------------------

Cash (used-in) operating activities                                        $    (3,664,900)  $     (995,500)   $   (2,902,300)
                                                                           ===================================================

Schedule of non-cash investing and financing activities:

Non-cash investing activity:
  Purchases of leaseholds, furniture, fixtures, equipment
    and capitalized leases                                                 $     3,904,200                     $    3,904,200

  Less amounts paid                                                              1,196,700                          1,196,700
                                                                           ----------------                    ---------------

  Non-cash investing activity                                              $     2,707,500                     $    2,707,500
                                                                           ================                    ===============

Non-cash financing activities:
  Issuance of common stock on purchase of USDA                             $       209,600                     $      209,600
                                                                           ================                    ===============

  Divestiture of former subsidiaries of Sunvest Resorts, Inc.              $     2,657,900
                                                                           ================

  Common stock issued for services                                                           $  122,500
                                                                                             ===========


                              Read the accompanying summary of significant accounting policies and notes to
                                financial statements, both of which are an integral part of this financial
                                                               statement.

                                                                                                                           F-7
</TABLE>
<PAGE>

                             US DATA AUTHORITY, INC.
                        (FORMERLY SUNVEST RESORTS, INC.)
                      (A COMPANY IN THE DEVELOPMENT STAGE)
                   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
                     YEARS ENDED DECEMBER 31, 2000 AND 1999


Basis of accounting:
   US Data Authority,  Inc. (the Company)  prepares its financial  statements in
   accordance  with  generally  accepted  accounting  principles.  This basis of
   accounting  involves the  application  of accrual  accounting;  consequently,
   revenues and gains are  recognized  when earned,  and expenses and losses are
   recognized  when  incurred.   Financial   statement  items  are  recorded  at
   historical cost and may not necessarily represent current values.

Reverse stock split:
    In April  2000,  the  Company's  shareholders  approved a  reduction  in the
    authorized  number of shares of the Company's common stock and a three point
    six for one  (3.6:1)  reverse  stock split of the  Company's  $.02 par value
    common stock.  The reverse stock split was effective  immediately  following
    the  spin-off  of all of its  subsidiaries.  Shareholders'  deficit has been
    restated to give retroactive  recognition to the reverse stock split for all
    periods presented by reclassifying from common stock to capital in excess of
    par of the number of shares that were  eliminated as a result of the reverse
    stock split.  In addition,  all  references in the financial  statements and
    notes to the number of shares and per share amounts,  stock option data have
    been restated to reflect this reverse stock split.

Management estimates:
   The preparation of financial statements in conformity with generally accepted
   accounting  principles  requires management to make estimates and assumptions
   that affect the reported  amounts of assets and  liabilities,  disclosure  of
   contingent  assets and  liabilities at the date of the financial  statements,
   and the  reported  amounts of  revenues  and  expenses  during the  reporting
   period.  Certain amounts  included in the financial  statements are estimated
   based on currently available  information and management's judgment as to the
   outcome  of future  conditions  and  circumstances.  Changes in the status of
   certain  facts or  circumstances  could  result in  material  changes  to the
   estimates  used in the  preparation  of the financial  statements  and actual
   results could differ from the estimates and assumptions. Every effort is made
   to ensure the integrity of such estimates.

Fair value of financial instruments:
   The carrying amounts of cash and equivalents,  accounts receivable,  accounts
   payable and accrued liabilities  approximate their fair values because of the
   short duration of these instruments.

Impairment of long-lived assets:
   Long-lived  assets and identifiable  intangibles held and used by the Company
   are  reviewed  for  possible  impairment  whenever  events  or  circumstances
   indicate the carrying amount of an asset may not be recoverable.

Revenue recognition:
    Revenues are  recognized  when service is provided to the customer,  who has
    executed a service agreement and authorizes access.


                                      F-8
<PAGE>

                             US DATA AUTHORITY, INC.
                        (FORMERLY SUNVEST RESORTS, INC.)
                      (A COMPANY IN THE DEVELOPMENT STAGE)
             SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
                     YEARS ENDED DECEMBER 31, 2000 AND 1999


Cash and equivalents:
    The Company considers all highly liquid investments  purchased with original
    maturities of three months or less to be cash equivalents.

Leaseholds, furniture, fixtures, equipment, capitalized leases and depreciation:
    Leaseholds,  furniture,  fixtures  and  equipment  are stated at cost,  less
    accumulated  depreciation.  Depreciation  expenses  are  computed  using the
    straight-line  method based on the estimated useful lives of the depreciable
    assets. The Company depreciates its leasehold  improvements over thirty-nine
    (39) years;  furniture,  fixtures and  equipment  over five (5) to seven (7)
    years. Equipment held under capital leases are classified as equipment under
    capitalized leases and amortized using the straight-line  method over a five
    (5) year period. Lease amortization is included in depreciation expense.

    Repairs  and  maintenance  are  charged  to  operations  as  incurred,   and
    expenditures for significant  betterments and renewals are capitalized.  The
    cost of furniture, fixtures and equipment retired or sold, together with the
    related accumulated depreciation, are removed from the appropriate asset and
    depreciation  accounts,  and the  resulting  gain or  loss  is  included  in
    operations.

Excess of costs over net assets acquired (goodwill):
    The excess of costs over net assets  acquired  (goodwill) is amortized  over
    seven (7) years.  Goodwill is associated  with the assets acquired on May 1,
    2000, at cost. The Company  reviews the carrying  value of intangible  asset
    for  impairment  whenever  events  in the  circumstances  indicate  that the
    carrying amount may not be recoverable.

Advertising:
    The Company expenses advertising costs incurred.

Income taxes:
   The Company  accounts for income taxes using the asset and liability  method.
   Under this method, deferred tax assets and liabilities are recognized for the
   future tax  consequences  attributable  to differences  between the financial
   statement  carrying  amounts of  existing  assets and  liabilities  and their
   respective tax bases.  Deferred tax assets and liabilities are measured using
   enacted  tax rates  applied to taxable  income.  The effect on  deferred  tax
   assets and  liabilities  of a change in tax rates is  recognized in income in
   the period  that  includes  the  enactment  date.  A valuation  allowance  is
   provided  for  deferred  tax assets  when it is more likely than not that the
   asset will not be realized.




                                      F-9
<PAGE>

                             US DATA AUTHORITY, INC.
                        (FORMERLY SUNVEST RESORTS, INC.)
                      (A COMPANY IN THE DEVELOPMENT STAGE)
             SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
                     YEARS ENDED DECEMBER 31, 2000 AND 1999


Per share amounts:
   Basic  loss per  share,  from  continuing  and  discontinued  operations  are
   computed by dividing net loss by the weighted average number of common shares
   outstanding during the reporting period.  Diluted loss per share are computed
   similar to basic  loss per share  except  that the  weighted  average  shares
   outstanding  are  increased  to include  additional  shares  from the assumed
   exercise of stock options and warrants, if dilutive. The number of additional
   shares is calculated by assuming that outstanding  stock options and warrants
   were exercised and that the proceeds from such exercises were used to acquire
   shares of common stock at the average price during the reporting period.  For
   the years  ended  December  31,  2000 and 1999,  options  and  warrants  were
   excluded  from  the  computation  of  diluted  loss  per  share  due to their
   antidilutive effect.

Stock based compensation:

     The Company has elected to follow  Accounting  Principles Board Opinion No,
     25,  "Accounting  for Stock Issued to Employees"  (APB No. 25), and related
     interpretations,  in accounting  for its employee stock options rather than
     the alternative fair value accounting allowed by SFAS No. 123,  "Accounting
     for Stock-Based  Compensation."  APB No. 25 provides that the  compensation
     expense relative to the Company's  employee stock options is measured based
     on the intrinsic value of the stock option. SFAS No. 123 requires companies
     that continue to follow APB No. 25 to provide  pro-forma  disclosure of the
     impact of applying the fair value method of SFAS No. 123.

     The Company  follows SFAS No. 123 in accounting for stock options issued to
     non-employees.

Accounting Pronouncements:
    The Securities and Exchange  Commission has issued Staff Accounting Bulletin
    (SAB) No.  101,  "Revenue  Recognition  in  Financial  Statements."  SAB 101
    provides guidance for revenue recognition under certain circumstances,  and,
    is effective for the fourth quarter of 2000. SAB 101 is not expected to have
    a material effect on the Company's results of operations, financial position
    and cash flows.

    The  Company  has  adopted  various  new  standards  as  promulgated  by the
    Financial   Accounting  Standards  Board  (FASB)  through  the  issuance  of
    Statements  of  Financial  Accounting  Standards  (SFAS).  The Company  also
    adopted  various new  Statements  of Position  (SOP)  issued by the American
    Institute of Certified  Public  Accountants.  Adoption of these  various new
    FASB's  and  SOP's  did  not  have  an  impact  on the  Company's  financial
    statements.

Reclassifications:
    In order to facilitate comparison of financial information,  certain amounts
    reported  in the prior  year  have been  reclassified  to  conform  with the
    current year presentation.


                                      F-10
<PAGE>
                             US DATA AUTHORITY, INC.
                        (FORMERLY SUNVEST RESORTS, INC.)
                      (A COMPANY IN THE DEVELOPMENT STAGE)
                          NOTES TO FINANCIAL STATEMENTS
                     YEARS ENDED DECEMBER 31, 2000 AND 1999


1.  Organization and business:
      US Data Authority,  Inc. (USD or the Company)  formerly  Sunvest  Resorts,
      Inc. was incorporated in the State of Delaware on March 5, 1985. On August
      2, 1996, a wholly owned  subsidiary  was  organized  under the Laws of the
      State of Florida under the same corporate  name.  During 1996 the Delaware
      and Florida  corporations entered into a statutory merger with the Florida
      corporation  as the  survivor.  As a  result  of the  merger,  USD  issued
      2,500,000 shares of its $0.02 par value to the then existing shareholders.
      On May 1, 2000 the Company  acquired the assets  subject to liabilities of
      US Data Authority,  Inc. (a Company in the  development  stage) (USDA) and
      originally  incorporated  on January 15,  1999,  in exchange of its common
      stock.   The  acquisition  was  accounted  for  by  the  purchase  method.
      Accordingly,  the Statement of Operations include the operating results of
      USD from May 1, 2000 forward.  The assets acquired and liabilities assumed
      were  recorded at fair values,  which did not exceed  original  cost.  The
      excess of cost  over net  assets  acquired  is being  amortized  to future
      periods  over a seven- (7) year life  using the  straight-line  method.  A
      condensed summary of assets and liabilities purchased is as follows:

       Identifiable assets:
         Acounts receivable, security deposits et al          $       72,100
         Leaseholds, furniture, fixtures and equipment               188,500
                                                              ---------------
                                                                     260,600
                                                              ---------------
       Liabilities assumed:
         Accounts payable                                            340,000
         Accruals                                                     30,500
                                                              ---------------
                                                                     370,500
                                                              ---------------
       Excess of cost over net assets acquired                $      109,900
                                                              ===============

      USD provides a range of bandwidth, Internet access and supporting services
      and  network  management,  primarily  to small and  medium  size  business
      customers.  It is  management's  opinion  that the  small to  medium  size
      entities will  generate a good market share of potential  new users.  They
      will also provide Internet access, co-location access and remote access on
      a high-speed digital network.  The Company also provides advisory services
      associated with the selection and installation of computer hardware to its
      service customers. Services will be provided nationwide.

      USD will act as a bridge between national and local providers and plans to
      offer  competitively  priced  access  across  the  whole  nation at prices
      ranging from 40% to 50% below the  national  average.  USD  together  with
      another national  company,  will offer routers and processor based servers
      which USD has determined to be far easier to install and troubleshoot than
      other industry leaders.

      USD has changed its operations  from real estate (old SunVest) to Internet
      access services.

                                      F-11
<PAGE>
                             US DATA AUTHORITY, INC.
                        (FORMERLY SUNVEST RESORTS, INC.)
                      (A COMPANY IN THE DEVELOPMENT STAGE)
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                     YEARS ENDED DECEMBER 31, 2000 AND 1999


1.  Organization and business (continued):
      Since the change of operations in April 2000,  the Company has reverted to
      a development stage enterprise. Since May 2000, the USD has been executing
      strategic  business  plans to  develop  its  internet  network  nationwide
      through equipment installations and developing a sales network. Management
      has been developing new  relationships  with major equipment  suppliers as
      part of this plan.  To-date USD had yet to commence its principal  planned
      operations and from inception of development  stage (May 1, 2000) had only
      generated auxiliary revenues to defray the cost of its planned operations.
      It is the intent of USD's  management that meaningful  operations could be
      generated  by the end of 2001,  which  should then take the Company out of
      development  stage.  The Company has  financed its  operations  during the
      development  stage from the sale of its common  stock and from  borrowings
      from related parties and financing through accounts payable. Subsequently,
      the  Company   borrowed   additional   funds  from   related   parties  of
      approximately  $750,000.  There can be no assurances that the Company will
      be out of development stage by the end of 2001.

2. Discontinued operations:

     During the first quarter of 2000 management  announced its decision to exit
     the real estate  business by the end of April 2000. In connection with that
     decision the  shareholders'  approved the spin off of its then subsidiaries
     as a dividend to its  shareholders  on a one for one basis.  Management had
     determined  that  the  spin  off  would  be  a  tax-free  transaction.  The
     distribution was made effective April 30, 2000 and the Company changed from
     the real estate to the Internet  business.  The Company has disposed of its
     real  estate  business  as a  result  of the  spin-off  and  the  Company's
     financial statements now reflect USD operations and Sunvest as discontinued
     operations.

     As a result of the  spin-off  the Company has  restated  it's prior  year's
     Statement of Operations to present the operating  results of the Company on
     a  comparable  basis.  Accordingly,  the real estate  operations  are being
     reported as income (loss) from discontinued  operations in the accompanying
     Statement of Operations.  Results of these discontinued  operations were as
     follows:

                                                    2000            1999
                                                -------------   -------------

     Net sales                                  $  1,424,000    $  2,234,100
                                                -------------   -------------

     Cost of sales                                   258,800       1,231,600
     Operating expenses:
       Selling, general and administrative           730,300       3,061,400
     Minority interest and income taxes              200,000         165,100
                                                -------------   -------------
                                                   1,189,100       4,458,100
                                                -------------   -------------

     Net income (loss)                          $    234,900    $ (2,224,000)
                                                =============   =============
                                      F-12
<PAGE>

                             US DATA AUTHORITY, INC.
                        (FORMERLY SUNVEST RESORTS, INC.)
                      (A COMPANY IN THE DEVELOPMENT STAGE)
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                     YEARS ENDED DECEMBER 31, 2000 AND 1999


3.  Summary of certain risks and uncertainties:
      The  accompanying  financial  statements  have been prepared  assuming the
      Company  will  continue as a going  concern.  The  Company has  reported a
      working  capital  deficiency of  $5,097,800  as of December 31, 2000.  The
      Company  has also  reported  net losses of  $6,344,900  for the year ended
      December 31, 2000, which includes income from  discontinued  operations of
      $234,900.  Net  loss  from  discontinued  operations  for the  year  ended
      December 31, 1999 was $2,224,000.  In addition the Company also reported a
      net loss from  continuing  operations  of  $6,579,800  from  inception  of
      development  stage (May 1, 2000) to December 31, 2000.  As reported on the
      statements of cash flows, the Company  incurred  deficient cash flows from
      operating  activities of $2,902,300  (excluding  cash used in discontinued
      operations of $762,600) from  inception of  development  stage to December
      31, 2000. To date, these have been financed  principally  through the sale
      of common  stock and from  borrowings  from  related  parties.  Additional
      capital  and/or  borrowings  will be necessary in order for the Company to
      continue in existence until attaining profitable operations.

      The Company's  principal  source of working  capital  funding has been and
      continues  to  be  a  small  group  of  shareholders   who  have  provided
      approximately $1,850,000 from inception of development stage (May 1, 2000)
      to April 10, 2001. This does not include $3,601,900 from proceeds of sales
      of common stock.  Management of the Company  anticipates  that the Company
      will require  approximately  $8,000,000 to $10,000,000 of working  capital
      for the year  2001 in order to meet its  business  plan.  While  the small
      group of shareholders has been funding to date, there can be no assurances
      that they will continue.

      Management  has  continued to develop a strategic  business  plan to raise
      private   financing,   develop  a  management  team,   maintain  reporting
      compliance  and seek new  expansive  market  share.  Should the Company be
      successful in obtaining  sufficient funds,  management intends to continue
      developing  its network for market  share.  In order to meet its goals USD
      has developed  alliances with such  companies as AT&T,  Cisco and Hitachi.
      These  alliances have extended  credit to USD for equipment  purchases and
      installations, which have enabled the Company to continue in operations.

      There can be no  assurances  that the Company  will be  successful  in the
      implementation  of its plan for expansion and its overall  business  plan.
      Management  remains confident that they will be able to continue operating
      as a going concern.

      During the first quarter of 2001, the  Company   instituted   an  informal
      restructuring  plan, aimed at reducing certain short-term debt and certain
      costs of operations.  Employee terminations and other cost reductions were
      implemented.  The affected  employees  were  primarily the  non-productive
      sales and  non-essential  technical  personnel.  No special  charges  were
      incurred  resulting  from the  employee  terminations  or from  other cost
      reductions.  In addition,  management has been negotiating with two (2) of
      its  principal  suppliers  for  improved  debt  terms  of its  outstanding
      unsecured  short-term debt. One of the negotiations  with a supplier is to
      extend the current  amount due over a twelve  (12) to fifteen-  (15) month
      period.  The other  negotiation is to obtain a substantial  credit against
      the current outstanding  balance.  In the opinion of management,  if these
      matters can be resolved,  they would enhance the financial position of the
      Company and resolve  certain  cash flow  requirements  in the  short-term.
      There can be no assurances that the negotiations will be successful.


                                      F-13
<PAGE>

                            US DATA AUTHORITY, INC.
                        (FORMERLY SUNVEST RESORTS, INC.)
                      (A COMPANY IN THE DEVELOPMENT STAGE)
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                     YEARS ENDED DECEMBER 31, 2000 AND 1999


4.  Concentration of credit risk:
      Financial   instruments   that   potentially   subject   the   Company  to
      concentrations of credit risk consist principally of cash and equivalents,
      receivables and amounts due from officers.  During the year, the Company's
      account balances with financial  institutions may exceed federally insured
      limits.  Management regularly monitors their balances and attempts to keep
      this  potential  risk to a minimum  by  maintaining  their  accounts  with
      financial institutions that they believe are of good quality.

      The  Company  may have a  concentration  of credit  risk with  respect  to
      accounts  receivable,  trade and  officers.  The Company  does not perform
      credit evaluations and does not require collateral.  The Company maintains
      when appropriate,  an allowance for uncollectible accounts.  Therefore, no
      additional credit risk beyond amounts provided for collections  losses are
      believed  inherent  in the  Company's  receivables  and to date  have been
      within management's expectations.

      The  Company is  dependent  upon a major  supplier  of  routers  and other
      equipment necessary for operations. It is management's opinion that if the
      supplier ceased to service the Company,  alternative sources are available
      and the impact from such an event would not have a  significant  impact on
      Company operations.

5.       Details of financial statement components:

  Leaseholds, furniture, fixtures                            2000
    and equipment:                                      ---------------

  Leasehold improvements                                $      124,600
  Furniture and fixtures                                       180,300
  Equipment                                                  1,191,500
                                                        ---------------
                                                             1,496,400

  Less accumulated depreciation                                 96,300
                                                        ---------------

                                                        $    1,400,100
                                                        ===============
Accrued liabilities:
  Payroll taxes                                         $      594,000
  Payroll                                                       98,600
  Interest and payroll penalties                               130,400
  Security deposits                                             59,000
                                                        ---------------

                                                        $      882,000
                                                        ===============

     Management  has  attempted to commence a dialog with the  Internal  Revenue
     Service to  establish a payment plan for back  payroll  taxes.  The current
     estimated  trust portion of these past due payroll  taxes is  approximately
     $400,000.  The Company is current with its payroll tax compliance's for the
     first quarter of 2001.



                                      F-14
<PAGE>

                             US DATA AUTHORITY, INC.
                        (FORMERLY SUNVEST RESORTS, INC.)
                      (A COMPANY IN THE DEVELOPMENT STAGE)
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                     YEARS ENDED DECEMBER 31, 2000 AND 1999


6.  Notes payable, shareholders:

    Notes payable, shareholders, interest at 12.0%,
     maturing on October 25, 2001, collateralized
     by all the assets of the Company not collateralized
     to other debt                                              $    1,000,000

    Note payable, shareholder, non-interest bearing,
     unsecured, due on demand                                          100,000
                                                                ---------------

                                                                $    1,100,000
                                                                ===============

    The notes  payable,  shareholders  amounting to $1,000,000  has an option to
    convert the  outstanding  loans into common stock at $1.00 per share.  Under
    the terms of the agreement the Company  cannot sell any shares for less than
    $1.00,  which is the  agreements  established  floor.  The  Company  accrued
    interest of approximately  $22,000 relating to these shareholder notes which
    amounts have been charged to current operations.

7.       Capitalized lease obligations:

    Capitalized  lease  obligations,  imputed
      interest  at  13.63%,  collateralized capitalized
      leased equipment, payable $128,700 per month which
      includes interest and maintence agreements,
      maturing December 31, 2003                                    $ 3,413,600

    Less imputed interest of $571,600 and maintenance
      costs of $434,200.                                              1,005,800
                                                                    ------------

                                                                      2,407,800

Less current portion of capitalized lease obligations                   634,800
                                                                    ------------

                                                                    $ 1,773,000
                                                                    ============

Maturities of capitalized lease obligations subsequent to Decemberf 31, 2000 are
as follows:
                                    Years Ending
                                    December 31,          Amount
                                 ---------------------------------------
                                      2001             $      634,800
                                      2002                    788,800
                                      2003                    984,200
                                                       ---------------
                                                       $    2,407,800
                                                       ===============
                                      F-15
<PAGE>

                             US DATA AUTHORITY, INC.
                        (FORMERLY SUNVEST RESORTS, INC.)
                      (A COMPANY IN THE DEVELOPMENT STAGE)
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                     YEARS ENDED DECEMBER 31, 2000 AND 1999


8.   Income taxes:

     Deferred income taxes reflect the net tax effects of temporary  differences
     between  the  carrying  amounts of assets  and  liabilities  for  financial
     reporting purposes and the amounts used for income purposes.

     Components of the net deferred tax asset at December 31, 2000 are:

     Deferred tax asset:
       Net operating loss from continuing operations             $    2,538,500

       Less valuation allowance                                       2,447,900
                                                                 ---------------

                                                                         90,600
     Deferred tax liability:
       Income from discontinued operations                               90,600
                                                                 ---------------

     Net deferred tax asset                                      $            -
                                                                 ===============

     The valuation allowance is provided when it is more likely  than  not  that
     the tax benefit may not be realized.

     The provision (benefit)for income taxes differs from  the  amount of income
     tax (benefit) determined by applying the applicable federal tax rate due to
     the following:

     U.S. Federal statutory income tax rate of 35% (benefit)
       From continuing operations                                $   (2,302,900)
       From discontinued operations                                      82,200
                                                                 ---------------
                                                                     (2,220,700)
                                                                 ---------------
     Effective state income tax (benefit), net of Federal benefit
       From continuing operations                                      (235,600)
       From discontinued operations                                       8,400
                                                                 ---------------
                                                                       (227,200)
                                                                 ---------------

                                                                     (2,447,900)

     Valuation allowance                                              2,447,900
                                                                 ---------------

                                                                 $            -
                                                                 ===============

     At December 31, 2000, the Company had available  federal net operating loss
     carryforwards  available to reduce future taxable  income of  approximately
     $6,400,000, which expires in 2015.


                                      F-16
<PAGE>

                             US DATA AUTHORITY, INC.
                        (FORMERLY SUNVEST RESORTS, INC.)
                      (A COMPANY IN THE DEVELOPMENT STAGE)
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                     YEARS ENDED DECEMBER 31, 2000 AND 1999


8.  Income taxes (continued):
     In  accordance  with  certain  provisions  of the Tax Reform Act of 1986, a
     change in  ownership of greater  that 50% of a  corporation  within a three
     year period will place an annual limitation on the corporation's ability to
     utilize its existing tax benefit carryforwards.  Such a change in ownership
     occurred  in 2000.  However,  based  upon the  amount of the  taxable  loss
     incurred from May 1, 2000 to December 31, 2000 the Company  estimates  that
     no annual  limitation  will apply to the net  operating  loss  carryforward
     existing as of that date.

9.   Options and warrants:

     The Company has granted various stock options to various employees and to a
     shareholder under an employment agreement and to certain other shareholders
     who have provided  financing  under notes  payable,  shareholders.  The USD
     Stock Incentive Plan, administered by a Compensation Committee for officers
     and key employees, may grant options at prices established by the Committee
     when an option if granted,  which  usually will be the fair market value of
     the  common  stock at the date of the  grant.  The Plan  provides  that the
     options will expire as the Committee may specify in the  applicable  option
     agreement.

     The Company has also issued 3,076,667 stock purchase warrants. The warrants
     were issued  between June 30, 2000  through  October 25, 2000 at an initial
     value ranging from $7.17 to $7.25 per warrant.  Each warrant represents the
     right to purchase one share of stock.  The warrants expire on varying dates
     from September 27, 2002 to June 30, 2005.

    The following table summarizes stock options and warrants as of December 31,
    2000:
                                                     Weighted          Number
                                                     Average             of
    Stock options:                       Expiration   Price            shares
                                        ----------------------------------------
      Employee Stock Incentive Plan          -          $ 7.14          605,600

      Debt                                2001          $ 1.00        1,000,000
                                                                     -----------
                                                                      1,605,600
                                                                     -----------
    Warrants:
      Shareholders                     2002 to 2003     $ 7.25        2,660,000

      Suppliers                        2002 to 2005   $7.17 - $7.25     416,667
                                                                     -----------
                                                                      3,076,667
                                                                     -----------

    Balance, ending                                                   4,682,267
                                                                     ===========

    There  were  no beginning options at January 1, 2000. Subsequent to year end
    about 379,900  employee  stock options were  cancelled.  There were no stock
    options  or  warrants  exercised  as  of  April 10,  2001. The stock options
    granted the employees were not vested. The strike price of the warrants were
    considerably greater than the fair market value of the common stock when the
    warrants were issued.

                                      F-17
<PAGE>

                             US DATA AUTHORITY, INC.
                        (FORMERLY SUNVEST RESORTS, INC.)
                      (A COMPANY IN THE DEVELOPMENT STAGE)
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                     YEARS ENDED DECEMBER 31, 2000 AND 1999


10.  Commitments,  contingencies,  litigation, transactions with related parties
     and subsequent event:

     Employment contract: On March 2, 2000, the Company executed a two- (2) year
     employment  agreement with its current Chief Operating Officer/shareholder.
     The agreement has  a  renewal term option for two (2) additional years with
     one (1) year  renewal  options thereafter  after the initial option period.
     The  agreement  provides  for  annual  compensation of  $125,000,  when the
     Company  becomes  fully funded. Any underpayments shall be accrued and paid
     at a later date. The agreement provides for an annual incentive bonus based
     on performance. The incentive bonus is determined  annually  based  on  one
     percent (1.0%) of the Company's  profit  before EBITDA based on sales.  For
     each  $5  million  dollar  increment  in  sales  the agreement provides for
     $50,000 in bonus. The incentive bonus can be paid in cash or Company stock,
     at the employee's  option.  If payment is made in the common stock  of  the
     Company the price shall be based on eighty percent  (80.0%) of the  average
     bid-asked price on the day of exercise.  While employed,  there is no limit
     on the exercise period. If termination  were  to  occur,  so  long  as  the
     Company reached fifty percent (50.0%) of the first  incentive  plateau  ($5
     million),  the  employee  will be  entitled  to a  pro-rata  share  of  the
     incentive plan.  Total minimum  commitment under the agreement is $500,000,
     which includes the first renewal  option and excluding any incentive  plan.
     Future  increases in the annual base  compensation are at the discretion of
     the Board of Directors. There is no other employment contracts at present.

     Executive agreement:

     The Company has an executive  agreement  with its Chief  Technical  Officer
     dated October 24, 2000 for the payment of $225,000 in compensation  payable
     monthly  through  December  31,  2002.  During  the year  ended  the  Chief
     Technical Officer was advanced approximately $194,200, which was reduced by
     approximately  $64,600 in  payments.  The advance  earns  interest at 7.5%.
     Collateral for the advance is 50,000 shares of the Company stock, which had
     been placed in escrow.  On February  2, 2001,  the common  stock was turned
     into the Company as full  satisfaction  of the advance,  including  accrued
     interest. At the date of settlement the common stock was trading at $2.8125
     per share.  Total value at date of liquidation was $140,600.  The stock was
     subsequently  retired at fair market value.  The amounts due from the Chief
     Technical  Officer are included in amounts due from  officers and employees
     on the accompanying balance sheet.

     Rental commitments:

     The Company  conducts it  operations  from leased  premises and also leases
     certain  equipment  under  operating  leases.  Management  is  presently in
     discussion to extend the option  period of leased  premises from one (1) to
     five (5) years. No rental rates for the new extended option years have been
     determined.  The aggregate minimum rental commitments under  non-cancelable
     leases,  including the current option period in effect at December 31, 2000
     were as follows:

                                      F-18
<PAGE>
                             US DATA AUTHORITY, INC.
                        (FORMERLY SUNVEST RESORTS, INC.)
                      (A COMPANY IN THE DEVELOPMENT STAGE)
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                     YEARS ENDED DECEMBER 31, 2000 AND 1999


10.   Commitments, contingencies, litigation, transactions with related parties
      and subsequent event (continued):

      Year Ending
      December 31,           Total            Facilities              Equipment
      --------------------------------------------------------------------------
      2001                  $ 205,100           $ 114,900               $ 90,200
      2002                    151,200              70,000                 81,200
      2003                      5,000               5,000                      -

                            ----------------------------------------------------

                            $ 361,300           $ 189,900              $ 171,400
                            ====================================================

      Litigation:

      The  Company  is  a defendant  in a  proceeding. Management considers this
      action as being  incidental  to  the  Company's  business  and  is  of the
      opinion that the  financial  exposure of this action  will not  materially
      affect the financial position of the Company.

      The Company was a defendant  in a matter  concerning  common  stock voting
      rights  issued to a former  officer.  The former  officer was the original
      proxy holder of 6,066,625 shares. As a result of the dismissal against the
      Company,  the  plaintiff  continues  to pursue  relief  against  the other
      defendants.  Management will vigorously defend any claims made against the
      Company resulting from this action which may arise.

      Transactions with related parties:

      The following  is  a  summary  of  transactions with related parties as of
      December 31, 2000:

      Compensation to officer/shareholder                           $    81,700
                                                                    ============
      Related party loans and advances, net                         $   216,000
                                                                    ============
      Related party notes payable                                   $ 1,100,000
                                                                    ============
      Interest on related party notes and advances, net             $    19,800
                                                                    ============

      Subsequent events:

      Subsequent  to  the  balance  sheet  date,  a  shareholder group loaned an
      additional $750,000 as working capital to  the Company.  These  additional
      promissory and convertible promissory notes bear interest at rates ranging
      from 10.0% to 12.0%,  are  collateralized  by corporate  assets and mature
      at varying dates  through March 2002. Certain of these subsequent advances
      have options to convert  the notes to common  stock at $1.25 per share for
      the first thirty (30) days; $.75 per share within sixty (60)days; $.40 per
      share  within  ninety (90) days and $.20 per share after the first  ninety
      (90) days.  None of these  advances  have been  exercised.  Certain of the
      other advances can be converted into convertible  debentures,  interest at
      10% which would have a conversion feature to convert to preferred stock at
      $.20 per share.  The preferred  stock converts to common stock after three
      (3) years of exercise. A special feature permits that the voting rights on
      this preferred convertible stock shall have the voting rights equal to ten
      times (10) the  representative  common stock for a three- (3) year period.
      The voting  rights  would then  equate to about  12,500,000  voting  right
      shares.  On March 8, 2000,  those advances with the convertible  debenture
      features were  exercised and 1,250,000  shares of preferred  stock will be
      issued as satisfaction of those subsequent advances.


                                      F-19
<PAGE>

                             US DATA AUTHORITY, INC.
                        (FORMERLY SUNVEST RESORTS, INC.)
                      (A COMPANY IN THE DEVELOPMENT STAGE)
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                     YEARS ENDED DECEMBER 31, 2000 AND 1999


11.   Selected quarterly financial data (unaudited):

      Quarterly  results  of  operations  (unaudited)  for  2000  and  1999  are
      summarized as follows (in thousands, except per share data):

                                   ---------------------------------------------
           2000                     3/31    6/30     9/30      12/31     Total
--------------------------------------------------------------------------------
Operating expenses:
  Technical and
    content, net                   $   -  $ (397)  $  (377)   $(1,239)  $(2,013)

  Selling, general and
    administrative                     -    (372)   (1,427)    (2,768)   (4,567)

(Loss) from
  continuing operations                -    (473)   (1,200)    (4,907)   (6,580)

Income from discontinued
  operations                         343    (108)        -          -       235

Net income (loss)                  $ 343  $ (581)  $(1,200)   $(4,907)  $(6,345)

Basic income (loss) per share:
  Continuing operations            $   -  $(0.05)  $ (0.07)   $ (0.36)  $ (0.48)

  Net income (loss)                $0.03  $(0.06)    (0.07)   $ (0.36)  $ (0.46)

Diluted income (loss) per share:
  Continuing operations            $   -  $(0.05)  $ (0.07)   $ (0.36)  $ (0.48)

  Net income (loss)                $0.03  $(0.06)  $ (0.07)   $ (0.36)  $ (0.46)

Market price of common stock:
    High                           $3.31  $11.00   $ 11.00    $  5.25   $ 11.00

    Low                            $3.30  $8.50    $  8.25    $  2.00   $  2.00

    Close                          $3.30  $8.50    $  8.75    $ 2.125   $ 2.125


                                      F-20
<PAGE>

                             US DATA AUTHORITY, INC.
                        (FORMERLY SUNVEST RESORTS, INC.)
                      (A COMPANY IN THE DEVELOPMENT STAGE)
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                     YEARS ENDED DECEMBER 31, 2000 AND 1999


11.   Selected quarterly financial data (unaudited)(continued):

      The  unaudited  quarterly  results of discontinued  operations for 1999 is
      not available.  The  quarterly  sales  price  of  common  stock  for  1999
      is as follows:

                                                 Quarter Ended
                         ---------------------------------------------------

           1999             3/31     6/30      9/30      12/31      Total
     ----------------   ---------------------------------------------------
     Market price of common stock:

     High                 $ 2.50   $ 3.00    $ 2.875   $  1.50    $ 2.875

     Low                  $ 0.50   $ 1.50    $ 1.875   $0.0625    $  0.50

     Close                $    -   $    -    $     -   $     -    $  2.13













                                      F-21
<PAGE>
Item 8.  Changes  in  and  Disagreements  with  Accountants  on  Accounting  and
         Financial Disclosure.

         None.

Item 9. Directors, Executive Officers, Promoters and Control Persons; Compliance
        with Section 16(a) of the Securities and Exchange Act of 1934.

Directors and Executive Officers

         The following table includes the names,  positions held and ages of our
executive  officers as of April 13, 2001.  All directors  serve for one year and
until their  successors  are elected and  qualify.  Officers  are elected by the
Board of Directors and their terms of office are, except as otherwise  stated in
employment contracts, at the discretion of the Board of Directors.

     NAME                      AGE               POSITION
     ----                      ---               --------

     Joseph E. Shamy(1)         64          Chief  Executive  Officer, President
                                            and Director
     Michael A. Cutler          46          Director
     David P. Lonski(1)         40          Chairman of the Board and Director
     Richard J. Lucibella       46          Director
     Raymond J. Markman         72          Director
     Melvyn B. Siegel           61          Director
     Dominick F. Maggio         48          Chief Operating Officer and
                                            Executive Vice President

         (1)  David P. Lonski is Joseph E. Shamy's nephew.

Joseph E. Shamy.  Mr. Shamy was named the Interim  President/CEO  and a director
of the  Company  in  February  2001,  so as to assist  the  Company  during  its
expansion  and  funding,  and in its search for the right  candidate to fill the
offices of President and Chief  Executive  Officer  permanently.  Mr. Shamy is a
businessman  and  entrepreneur  with over 45 years  experience in management and
administration.  A 1960 graduate of Rider  University,  Mr. Shamy earned his law
degree  from  Seton  Hall in 1965.  Since  that  time,  he had many real  estate
developments  and  investments.  Over the last twenty years,  in addition to his
land development  activities,  Mr. Shamy has been the majority owner of a string
of  businesses,  as well as an investor in  technical  stocks.  Mr. Shamy was an
original  investor in EarthLink  (Symbol:  ELNK), a major investor in I-Trax.com
(Symbol: IMTX), and is a major investor in the Company.

         Michael A. Cutler.  Mr.  Cutler has served as a director of the Company
since  April  25,  2000,  and  currently  serves  on  the  Company's  Nominating
Committee. He also served as a director of US Data Authority,  Inc., pre-merger,
from March 14 - May 1, 2000.  For the last ten years,  he has been a director of
the Personal  Communications  Industry Association  ("PCIA"),  acting in various
lobbying  capacities  and  involved in PCIA's FCC  rule-making  efforts.  During
1976-1996,  Mr.  Cutler served as President of Commsite  International,  Inc., a
communications  site  management and  acquisition  company.  He earned a B.A. in
political  science from the  University  of Delaware and his JD from the Potomac
Law School in Washington, DC.

<PAGE>

         David P. Lonski.  Mr. Lonski has served as a Director  of  the  Company
since December 6, 2000, and as the Company's Chairman of the Board since January
2001. He is a shareholder in the law firm of Shamy,  Shipers & Lonski,  P.C., in
New Brunswick,  New Jersey.  Mr. Lonski earned a Bachelor's Degree of Science in
Industrial Engineering from Rutgers College of Engineering and a Juris Doctorate
Degree from Rutgers School of Law-Camden,  New Jersey. In addition,  he earned a
Masters Degree at Law in Taxation from New York University.  Mr. Lonski has been
a  practicing  attorney  for 14  years  and  currently  serves  on the  Board of
Directors of many privately held  corporations  with combined annual revenues in
excess of $80 million.  He is also on the Board of the publicly held deNovo Bank
located in New Brunswick, New Jersey with assets in excess of $48 million.

Richard J.  Lucibella.  Mr.  Lucibella  has served as a director  of the Company
since  April  25,  2000,  and  currently  serves on the  Company's  Compensation
Committee and Corporate Governance Committee. He also served as a director of US
Data Authority,  Inc.,  pre-merger,  from March 14 - May 1, 2000. Since 1997, he
has been an investor in CyBear,  Inc., an  Internet-related  healthcare company,
which he served as President  from January  through  November  1997.  From March
through  September 1994, Mr. Lucibella served as President of Coastal  Physician
Group,  Inc.  He earned an MBA from the  Wharton  School  of the  University  of
Pennsylvania, and a MPH from Johns Hopkins University.

         Raymond J. Markman. Mr. Markman has served as a director of the Company
since May 11, 2000, and currently  serves on the Company's  Audit  Committee and
Compensation Committee. He is a private investor and President of Life Planning,
a company  engaged in the  development  and  execution of financial  strategies,
planning and investment for high net worth individuals and  corporations,  which
he founded in 1988.

         Melvyn B.  Siegel.  Mr.  Siegel has served as a director of the Company
since April 25, 2000,  as Chairman of the Board and Chief  Executive  Officer of
the Company  from May 11, 2000 - September  2000,  and  currently  serves on the
Company's  Audit  Committee,   Compensation   committee,   Corporate  Governance
Committee,  and  Nominating  Committee.  He  also  was a  director  of  US  Data
Authority,  Inc.,  pre-merger,  from March 14 - May 1,  2000.  For the past five
years he has been a private investor.

         Dominick F. Maggio. Mr. Maggio is  an  original  co-founder  of US Data
Authority,  Inc. pre-merger. He served as Interim President from March 2, 2000 -
June  2000,  and was then named  Chief  Operating  Officer  and  Executive  Vice
President.  Prior to joining the Company,  Mr. Maggio served as President/CEO of
Secure Transaction  International  Corp. (STIC) and its subsidiaries from August
1998.  From July 1997 to August 1998, he was Chief  Operating  Officer of Axxsys
International,  a regional  Internet Service Provider (ISP).  From March 1993 to
July  1998,  Mr.  Maggio  was  a  business   consultant  working  with  Lifeline
Biotechnologies, Inc.; Conservation Products International and their subsidiary,
Geolite.  From  1991 to  March  1993,  Mr.  Maggio  was  President  of  Maggio &
Associates,  Inc., an  advertising/public  relations  firm.  Prior to this,  Mr.
Maggio served as VP Marketing and Investor  relations  for  Lintronics,  Inc., a
subsidiary of publicly trading EVRO  Corporation.  From October 1984 to February
1986,  Maggio was  President  and partner in Maggio,  Simpson & Hanes,  Inc., an
advertising  agency,  into which he had merged his first ad agency,  D. Maggio &
Associates,  Inc.,  founded in 1982. Mr. Maggio graduated from the University of
South Florida in 1974, with a BA degree in Mass Communications/Advertising.


<PAGE>

Section 16(a) Beneficial Ownership Reporting Compliance.
-------------------------------------------------------

         To the Company's knowledge, based solely on a review of forms 3, 4, and
5, and amendments  thereto  furnished to the Company under Rule 16a-3(e)  during
the fiscal year ended  December 31, 2000,  the following  individuals  failed to
file on a timely basis the  following  reports  required by Section 16(a) of the
Exchange  Act:  (i)  David P.  Lonksi  failed to file a Form 3 within 10 days of
December 6, 2000,  the date he became a director of the  Company,  and failed to
file a Form 4 within  10 days of  February  2001,  a month in which  there was a
change in his beneficial ownership of the Company's securities;  (ii) Raymond J.
Markman  failed  to file a Form 3  within  10 days of May 11,  2000,  the day he
became a director of the Company,  (iii) Joseph E. Shamy failed to file a Form 3
within 10 days of the date in February 2001 that he became the  Company's  Chief
Executive Officer,  President and a director, and failed to file a Form 4 within
10 days of February  2001, a month in which there was a change in his beneficial
ownership of the Company's securities; (iv) Jack B. Blount failed to file a Form
3 within 10 days of the date in  September  2000 that he  became  the  Company's
Chief Executive Officer and President; (v) Big Sky & Associates failed to file a
Form 3 within 10 days of the date in year 2000 that it acquired  greater than or
equal to 10% of the Company's  outstanding  common stock;  (vi) Melvyn B. Siegel
failed to file a Form 4 within 10 days of October,  2000, a month in which there
was a change in his  beneficial  ownership of the  Company's  securities;  (vii)
Richard L. Lucibella failed to file a Form 4 within 10 days of October,  2000, a
month in which there was a change in his  beneficial  ownership of the Company's
securities;  and (viii) Harvey Birdman failed to file a Form 4 within 10 days of
October,  2000, a month in which there was a change in his beneficial  ownership
of the Company's  securities.  The Company is currently assisting its directors,
officers,  and 10% shareholders in taking the steps necessary to comply with the
Section 16(a) reporting requirements.

Item 10. Executive Compensation.

Summary Compensation Table

         The following table sets forth information relating to the compensation
the  Company  paid  during the past three  fiscal  years to its Chief  Executive
Officer;  and to its four highest paid  executive  officers who earned more than
$100,000 during the fiscal year ended December 31,2000:

                                    Fiscal
                                    LTIP
         Name                       Year         Salary       Bonus

         Dominick F. Maggio,  COO & 2000         $81,730         -
              Executive V.P. (1)    1999         -               -
                                    1998         -               -

         Jack B. Blount, former Chairman         2000$64,904     -
             CEO and President (2)  1999         -               -
                                    1998         -               -

         Melvyn Siegel, former Chairman2000      -               -
             and CEO (3)            1999         -               -
                                    1998         -               -

         Herbert Hirsch, former President (4)    2000-                 -
                                    1999         -               -
                                    1998         -               -

     (1)      Mr. Maggio served as the Company's  President  from  March 2, 2000
              through June 2000, at which time he became the Company's
              Chief Operating Officer and Executive Vice President.
     (2)      Mr.  Blount served as the Company's  Chief  Executive  Officer and
              President  from September  2000, and as the Company's  Chairman of
              the Board from October 2000,  until his resignation on January 12,
              2001.

<PAGE>

     (3)      Mr. Siegel has served as a Director of the Company since April 25,
              2000, and served as the Company's  Chairman of the Board and Chief
              Executive  Officer  from May 11,  2000  until his  resignation  in
              September 2000.
     (4)      Mr. Hirsch served as  the  Company's President (at a time when the
              Company had no CEO) from August  1996  until  his  resignation  in
              conjunction with the merger of the Company with US Data Authority,
              Inc., in April 2000.

Option Grants in Last Fiscal Year

         The Company did not grant any Options or SARs during  fiscal year ended
December  31, 2000 to its Chief  Executive  Officer or to its four  highest paid
executive  officers who earned more than  $100,000  during the fiscal year ended
December 31, 2000.

Stock Incentive Plan

         The board of directors  has adopted a stock option plan titled the 2000
Stock Incentive Plan (the "Plan").  We have reserved  2,000,000 shares of Common
Stock for issuance under the Plan. The Plan is intended to assist us in securing
and  retaining key  employees,  directors  and  consultants  by allowing them to
participate  in our  ownership  and growth  through the grant of  incentive  and
non-qualified stock options, and restricted stock.

         Under  the  Plan  we may  grant  incentive  stock  options  only to the
Company's employees,  and we may grant non-qualified options or restricted stock
to our employees,  officers,  directors and  consultants.  The Plan is currently
administered by our Board of Directors.

         Subject to the  provisions  of the Plan,  the Board will  determine who
shall receive grants under the Plan and the type and terms of such grants.

         As of December  31,  2000,  options to purchase  605,600  shares of the
Company's  Common  Stock had been  issued  under the Plan and were  outstanding.
Subsequent  to December 31, 2000,  options to purchase  379,900 such shares were
cancelled.

Option Exercises and Holdings.
----------------------------- -

         Neither the Company's Chief Executive Officer nor its four highest paid
executive  officers who earned more than  $100,000  during the fiscal year ended
December 31, 2000,  exercised  any options to purchase  shares of the  Company's
common stock during the fiscal year ended December 31, 2000.

Long-Term Incentive Plans Awards in Last Fiscal Year


         The Company did not award any grants under  long-term  incentive  plans
during fiscal year ended December 31, 2000 to its Chief Executive  Officer or to
its four highest paid  executive  officers who earned more than $100,000  during
the fiscal year ended December 31, 2000.

Compensation of Directors

         The Company did not have any  compensation  plans in effect  during the
fiscal year ended December 31, 2000.

<PAGE>
Employment Contract of Executive Officers.
-----------------------------------------

      The only employment agreement between the Company and an executive officer
in effect during the fiscal year ended  December 31, 2000,  was with Dominick F.
Maggio.  The agreement is dated March 2, 2000, has an initial term of two years,
and is subject to automatic  renewal in one year increments unless terminated by
either party by providing  the other party with notice prior to a renewal  term.
The agreement  provides for compensation in the amount of $125,000 for the first
year of the term. Annual  compensation is to be adjusted annually  thereafter by
the Board of Directors.  The agreement  provides for an annual  incentive  bonus
during the term in the amount of $50,000 for each $5,000,000 of profit earned by
the Company in the year,  and for a signing bonus in the amount of 4.444% of the
company's  nondiluted  common stock then  outstanding,  as modified on April 19,
2001.  The  agreement  contains  a  nondisclosure   provision  and  a  two  year
noncompetition  agreement.  If  terminated  by the Company  without  cause,  the
agreement  provides for a severance  payment to Mr.  Maggio in the amount of one
month of base salary for each two months of employment with the Company,  with a
minimum  payment of six months of base salary and a maximum of 12 months of base
salary.

Limitation on Liability and Indemnification Matters

         As authorized by the Florida  Business  Corporation  Law, Article 10 of
the Company's bylaws provides:

         "The corporation  shall, to the fullest extent permitted or required by
the  Act,  including  any  amendments  thereto  (but  in the  case  of any  such
amendment, only to the extent such amendment permits or requires the corporation
to  provide  broader  indemnification  rights  than  prior  to such  amendment),
indemnify its Directors or Officers against any and all Liabilities, and advance
any and all  reasonable  Expenses  incurred in any  Proceeding to which any such
Director or Officer is or is threatened to be made a Party or a witness  because
he or she is or was a  Director  or Officer  of the  corporation.  The rights to
indemnification  granted  hereunder  shall not be deemed  exclusive of any other
rights to  indemnification  against  Liabilities or the  advancement of Expenses
which a Director or Officer may be entitled under any written  agreement,  Board
resolution,  vote of shareholders,  the Act, or otherwise.  The corporation may,
but shall not be required to, supplement the foregoing rights to indemnification
against  Liabilities and advancement of Expenses by the purchase of insurance on
behalf  of any one or more  of its  Directors  or  Officers  whether  or not the
corporation would be obligated to indemnify or advance Expenses to such Director
or  Officer  under  this  Article.  For  purposes  of this  Article,  the  terms
"Directors"  and  "Officers"  includes  former  directors  or  officers  and any
directors or officers who are or were serving at the request of the  corporation
as  directors,   officers,   employees,   or  agents  of  another   corporation,
partnership,  joint venture,  trust, or other  enterprise,  including,,  without
limitation,  any  employee  benefit  plan (other than in the  capacity as agents
separately  retained and  compensated  for the provision of goods or services to
the enterprise,  including, without limitation,  attorneys-at-law,  accountants,
and financial consultants). All other capitalized terms used in this Article and
not  otherwise  defined  herein  shall  have the  meaning  set forth in  Section
607.0850,  Florida  Statutes,  as amended.  The  provisions  of this Article are
intended solely for the benefit of the  indemnified  parties  described  herein,
their  heirs and  personal  representatives  and shall not  create any rights in
favor of third parties. No amendment to or repeal of this Article shall diminish
the rights of  indemnification  provided for herein  prior to such  amendment or
repeal."

         Insofar as indemnification for liabilities arising under the Securities
Act may be  permitted  to the  Company's  directors,  officers  and  controlling
persons pursuant to the foregoing provisions, or otherwise, the Company has been
advised that in the opinion of the SEC, this  indemnification  is against public
policy as expressed in the securities laws, and is, therefore unenforceable.

<PAGE>

Item 11. Security Ownership of Certain Beneficial Owners and Management.

         The following tables set forth information known to the Company,  as of
February 2, 2001,  relating to the beneficial  ownership of the Company's Common
and  Preferred  Stock by:  each  person  who is known by the  Company  to be the
beneficial  owner of more than five  percent of an  outstanding  class of voting
securities;  each director;  each executive officer;  and all executive officers
and directors as a group.

         Unless  otherwise  indicated,  the address of each beneficial owner  in
the table set forth below is care of US Data Authority, Inc., 3500 NW Boca Raton
Boulevard, Bldg. 811, Boca Raton, Florida 33431.

         The  Company  believes  that all  persons  named in the table have sole
voting and investment  power with respect to all securities shown as being owned
by them.

         Under  securities  laws, a person is  considered  to be the  beneficial
owner of securities  owned by him and that can be acquired by him within 60 days
from the date of this Report,  including upon the exercise of options,  warrants
or  convertible   securities.   The  Company  determines  a  beneficial  owner's
percentage   ownership  by  assuming  that  options,   warrants  or  convertible
securities  that are held by him,  but not those held by any other  person,  and
which  are  exercisable  within  60 days of the date of this  Report,  have been
exercised or converted.

     Name of Beneficial        Amount and Nature of               Percentage
     Owner of Common Stock     Beneficial Ownership                of Class
     ---------------------     --------------------              ------------

     Joseph E. Shamy                    752,000(1)                   3.76%
     Michael A. Cutler                  365,000                      1.83%
     David P. Lonski                     50,000(2)                   0.25%
     Richard J. Lucibella                50,000                      0.25%
     Raymond J. Markman                 233,333(3)                   1.17%
     Melvyn B. Siegel                 2,516,702(4)                  12.58%
     Dominick F. Maggio                 975,000(5)                   4.88%
     Big Sky & Associates             8,530,000(6)                  37.91%
     Executive Officers and
     Directors (as a group)           4,942,035                     24.71%

         (1)  50,000  shares of which are owned by Daniel J. Shamy and  Jennifer
              E Shamy as tenants  in  common,  Mr.  Shamy's   son  and  daughter
              respectively;  and  33,333  shares of which are owned by Daniel J.
              Shamy.
         (2)  50,000 shares of which are owned  by  Jeanine Lonski, Mr. Lonski's
              wife.
         (3)  100,000  shares  of  which  are  owned  by  the Raymond J. Markman
              Defined Benefit Plan & Trust, Mr. Markman's trust.
         (4)  80,980  shares  of  which  are  owned by  Siegel #3 LLC, a limited
              liability  company  operated by Mr. Siegel;  5,000  of  which  are
              owned  by  Arthur  Siegel  as custodian  for Alexa B. Siegel,  Mr.
              Siegel's  granddaughter;  119,598  shares  of which  are  owned by
              Andrew  Siegel,  Mr.  Siegel's  son;  10,000 of which are owned by
              Arthur  Siegel,  Mr.  Siegel's  son;  10,000 of which are owned by
              Patricia  Siegel as  custodian  for  Ellie  Siegel,  Mr.  Siegel's
              daughter;  1,065,000 shares of which are owned by Patricia Siegel,
              Mr.  Siegel's  wife;  5,000  shares  of which  are owned by Laurie
              Hankinson  as  custodian  for  Jacob A.  Hankinson,  Mr.  Siegel's
              daughter;  217,000  shares  of  which  are  owned  by  Raymond  W.
              Hankinson  & Laurie  Hankinson  as  joint  tenants,  Mr.  Siegel's
              son-in-law and daughter,  respectively;  3,333 shares of which are
              owned by Bruce Marmer, Mr. Siegel's nephew; 23,333 shares of which
              are owned by Lorna B. Marmer,  Mr. Siegel's sister;  50,000 shares
              of which are owned by Stephen  Marmer,  Mr. Siegel's  nephew;  and
              13,333  shares of which are owned by Terry  Marmer,  Mr.  Siegel's
              nephew.


<PAGE>

         (5)  100,000 shares of which are owned by Louis J. Maggio, Mr. Maggio's
              brother;  25,000 shares of which are owned by Mary T. Maggio,  Mr.
              Maggio's  ex-wife; 25,000 shares of which are owned by I.G. Fonte,
              Mr. Maggio's uncle;  and  25,000  shares  of  which  are  owned by
              Salvatore Fonte, Mr. Maggio's uncle.
         (6)  2,500,000  shares of which are issuable  upon exercise of a common
              stock purchase warrant, at $7.50 per share.

       Name of Beneficial
       Owner of  Class A              Amount and Nature of         Percentage
   Convertible Preferred Stock(1)     Beneficial Ownership          of Class
   ------------------------------     --------------------         ------------

   Joseph E. Shamy                              1,000,000                  80%
   David P. Lonski                                250,000                  20%
   Executive Officers and
   Directors (as a group)                       1,250,000                 100%

         (1)  The holders of shares of Class A Convertible  Preferred Stock have
              10  votes  per  share  of  Preferred  Stock  held  on all  matters
              submitted to a vote of the shareholders of the Company. The shares
              of  Preferred  Stock will  automatically  convert to shares of the
              Company's  Common  Stock on a  one-for-one  basis on February  15,
              2004.


Item 12.      Certain Relationships and Related Transactions.

         Except for (i) the Employment Agreement between Dominick Maggio and the
Company  dated  March 2,  2000,  and  (ii)  the  private  placement  of  Company
securities to Joseph E. Shamy, David P. Lonski, Harvey Birdman, Melvyn B. Siegel
and Richard J. Lucibella,  the only related transaction the Company entered into
in year 2000 is as follows:

         The  Company  has an  executive  agreement  with  its  chief  technical
employee,  Adam Reiser,  dated October 24, 2000,  for the payment of $225,000 in
compensation  payable  monthly through  December 31, 2002.  During year 2000 the
employee was advanced approximately $194,200, which was reduced by approximately
$64,600 in payments.  The advance  earns  interest at 7.5%.  Collateral  for the
advance was 50,000 shares of the Company stock,  which had been place in escrow.
On  February  2,  2001,  the common  stock was turned in to the  Company in full
satisfaction  of  the  advance,  including  accrued  interest.  At the  date  of
settlement  the common  stock was trading at $2.8125  per share.  Total value at
date of liquidation  was $140,600.  The stock was  subsequently  retired at fair
market value. The amounts due from the chief technical  employee are included in
amounts due from  officers and  employees  on the  Company's  balance  sheet for
December 31, 2000.

Item 13.      Exhibits, Lists and Reports on Form 8-K.

Exhibit
Number        Description

2             Agreement and Plan of Merger by and among SunVest  Resorts,  Inc.,
              the Company,  et al., dated  effective  March 15, 2000. (1)

3(i)(a)       Articles of Incorporation of the Company dated August 6, 1996. (2)

3(i)(b)       Articles  of  Amendment to  the Articles of  Incorporation  of the
              Company  designating  Class A  Convertible  Preferred Stock, dated
              march 2, 2001. (3)

3(ii)             Amended and Restated Bylaws of the Company. (4)


<PAGE>
9.1           Master Agreement to Lease Equipment between Cisco Systems  Capital
              Corporation,  as Lessor,  and the Company, as Lessee, dated  as of
              June 30, 2000 (attached to Form 10-QSB/A filed November 14, 2000).
              (5)

9.2           Employment  Agreement  between the Company and Dominick F. Maggio,
              dated March 2, 2000.(6)

9.3           2000 Stock Incentive Plan.(6)

9.4           Master Agreement between the Company and AT&T Corp., dated January
              10, 2001.(6)

9.5           Customer  Agreement  between  the Company and Hitachi Data Systems
              Corporation, dated March 30, 2001.(6)
-------------------
(1)     Incorporated by reference as exhibit 10.5 of the Company's Form 10-KSB/A
        filed on April 12, 2000.
(2)     Incorporated  by reference as exhibit 2.1 of the Company's  Registration
        Statement  on  Form 10-SB,  filed  on  November  21,  1999, which became
        effective on January 21, 2000.
(3)     Incorporated by reference as exhibit 3.1 of the Company's Form 8-K filed
        on March 6, 2001.
(4)     Incorporated  by reference as exhibit 2.2 of the Company's  Registration
        Statement  on  Form 10-SB,  filed  on  November  21, 1999, which  became
        effective on January 21, 2000.
(5)     Incorporated by reference as exhibit 10.1 of the  Company's  Form 10-QSB
        filed on November 13, 2000.
(6)     Attached hereto.

Reports on Form 8-K filed by the Registrant during and since the last quarter of
2000.

         On  November  8,  2000,  the  Company  filed a Report  on Form 8-K that
         disclosed  certain  employment  matters re:  officers and directors and
         certain financing matters.

         On March 6, 2001,  the Company filed a Report on Form 8-K the disclosed
         a private financing.


<PAGE>
                                   SIGNATURES

         Pursuant  to the  requirements  of Section 13 or 15(d) of the  Exchange
Act, the Registrant has caused this amended report to be signed on behalf of the
undersigned, thereunto duly authorized.

Date:     April 19, 2001                        US DATA AUTHORITY, INC.
                                                (Registrant)


                                             By:/s/Joseph E. Shamy
                                                --------------------------------
                                                Joseph E. Shamy, Chief Executive
                                                Officer & President

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


Signature                        Title                      Date


/s/Joseph E. Shamy
------------------------------   CEO, President &           April 19, 2001
Joseph E. Shamy                  Director

/s/David P. Lonski
------------------------------   Director & Chairman        April 19, 2001
David P. Lonski

/s/Michael A. Cutler
------------------------------   Director                   April 19, 2001
Michael A. Cutler

/s/Richard J. Lucibella
------------------------------   Director                   April 19, 2001
Richard J. Lucibella

/s/Raymond J. Markman
------------------------------   Director                   April 19, 2001
Raymond J. Markman

/s/ Melvyn B. Siegel
------------------------------   Director                   April 19, 2001
Melvyn B. Siegel

/s/Dominick F. Maggio
------------------------------   COO, Exec. VP             April 19, 2001
Dominick F. Maggio