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

                           FORM 10-KSB

[X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

           For the fiscal year ended December 31, 2002

                                OR

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

                Commission file number: 000-27453

                           LOGIO, INC.
      (Exact name of registrant as specified in its charter)

 Nevada                                   84-1370590
-----------------------                  ----------------------------------
(State or incorporation)                 (I.R.S. Employer Identification No.)

180 South 300 West, Suite 400, Salt Lake City, Utah              84101
----------------------------------------------------------------------
(Address of principal executive offices)                         (Zip)

Issuer's telephone number, including area code: (801) 578-9020

Securities registered pursuant to Section 12(b) of the Act: None.
Securities registered pursuant to Section 12(g) of the Act: Common Stock

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12
months (or for such shorter 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 herein, and will not be contained, to the best of
registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-KSB or any amendment to
this Form 10-KSB. [X]

State issuer's revenue for its most recent fiscal year: None

As of March 12, 2003 the registrant had 18,425,830 shares of common stock
outstanding.  The registrant is a wholly-owned subsidiary whose voting stock
is beneficially owned by its parent, Pacific WebWorks, Inc.

Documents incorporated by reference: None.

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

<PAGE>


                              PART I

Item 1.  Description of business.............................................3
Item 2.  Description of property.............................................5
Item 3.  Legal proceedings...................................................5
Item 4.  Submission of matters to a vote of security holders.................5

                             PART II

Item 5.  Market for common equity and related stockholder matters............5
Item 6.  Plan of operation...................................................6
Item 7.  Financial statements................................................6
Item 8.  Changes in and disagreements with accountants on
         accounting and financial disclosure................................25

                             PART III

Item 9.  Directors and executive officers; Compliance with Section 16(a)....25
Item 10. Executive compensation.............................................26
Item 11. Security ownership of certain beneficial owners and management.....26
Item 12. Certain relationships and related transactions.....................26
Item 13. Exhibits and reports on Form 8-K...................................27
Item 14. Controls and Procedures............................................27
Signatures and Certifications...............................................28








     In this annual report, references to "Logio," "we," "us," and "our" refer
to Logio, Inc.

                    FORWARD LOOKING STATEMENTS

     This annual report contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.  For this
purpose any statements contained in this annual report that are not statements
of historical fact may be deemed to be forward-looking statements.  Without
limiting the foregoing, words such as "may," "will," "expect," "believe,"
"anticipate," "estimate" or "continue" or comparable terminology are intended
to identify forward-looking statements.  These statements by their nature
involve substantial risks and uncertainties, and actual results may differ
materially depending on a variety of factors, many of which are not within
Logio's control.  These factors include but are not limited to economic
conditions generally and in the industries in which Logio may participate;
competition within Logio's chosen industry, including competition from much
larger competitors; technological advances and failure by Logio to
successfully develop business relationships.


                                2
<PAGE>

                              PART I

                         ITEM 1: BUSINESS

Historical Development

     The company was incorporated in the state of California on May 2, 1997,
as Dunamis, Inc.  On June 25, 1998 the Company completed a change of domicile
merger with Altmount Holdings, Inc., a Nevada corporation which was created
for the sole purpose of changing our domicile from California to Nevada.  On
July 14, 1998 Altmount Holdings completed a merger with WordCruncher
Publishing Technologies, Inc., formerly Redstone Publishing, Inc., a Utah
corporation.  As part of the reorganization, we changed our name to
WordCruncher Internet Technologies, Inc.  Then in April 2000 we changed our
name to Logio, Inc.

     On October 31, 2000, Logio entered into a plan of reorganization with
Pacific WebWorks, Inc. to become its wholly owned subsidiary.  The plan was
approved by the stockholders of Logio on January 31, 2001, and Articles of
Exchange were filed with the state of Nevada on February 8, 2001.  The plan
provided for the transfer of 18,425,830 shares of our outstanding common stock
in exchange for 2,800,000 shares of Pacific WebWorks common stock.   Pacific
WebWorks filed a registration statement with the Securities Exchange
Commission to register the 2,800,000 shares issued pursuant to the plan.  The
registration statement was declared effective on December 20, 2000.

Our Plan

     We are a development stage company and have formally discontinued our
operations as of July 2002.  As a result, we will be unable to generate cash
flows in the foreseeable future.  We are unable to pay liabilities of
approximately $225,000 to various professional services firms, creditors and
vendors and an overdraft in a bank.  We may be required to seek bankruptcy if
our management is unable to find a purchaser willing to assume our debt.  We
continue to seek relief from our outstanding liabilities.

     Our business plan is to seek, investigate, and if warranted, be acquired
by a business venture. Based on current economic and regulatory conditions,
our management believes that it is possible for a reporting company like ours
to be acquired by a viable private company.  The opportunity arises
principally because of the high legal and accounting fees and the length of
time associated with the registration process of "going public."  However,
should any of these conditions change, it is very possible that there would be
little or no economic value for anyone taking over control of Logio.

     Our acquisition by a business venture may be made by merger, exchange of
stock, or otherwise.  We have no cash or liquid assets to use for purchasing a
business venture.  At the present time we have not identified any merger or
acquisition candidate that we plan to pursue, nor have we reached any
preliminary or definitive agreements or understandings with any person
concerning an acquisition or merger.

     Our search for a potential acquirer will not be limited to any particular
geographical area or industry and includes both U.S. and international
companies.  Our management has unrestricted discretion in seeking and
participating in a business combination, subject to the availability of
potential acquirers, economic conditions and other factors.  Our management
believes that companies who desire a public market to enhance liquidity for
their current stockholders or plan to acquire additional assets through
issuance of securities rather than for cash will be potential merger or
acquisition candidates.

     The selection of a potential acquirer is complex and extremely risky and
will be made by management in the exercise of its business judgement.  There
is no assurance that we will be able to identify and be acquired by any
business.  Should a sale of the company prove unsuccessful, it is possible
management may decide not to pursue a sale and management may abandon its
activities and we may become dormant or be dissolved.

                                3

<PAGE>

     A sale of the company is subject to several significant risks which arise
primarily as a result of the fact that we have no business operations and we
have $225,000 in outstanding liabilities.  Also, it is possible that the range
of business opportunities that might be available for consideration by us
could be limited by impact of the SEC regulations regarding purchase and sale
of "penny stock."  Our common stock is not publicly traded at this time and we
cannot assure that a market will develop or that a stockholder ever will be
able to liquidate his investments without considerable delay, if at all.  If a
market develops, our shares will likely be subject to the rules of the Penny
Stock Suitability Reform Act of 1990. The liquidity of penny stock is affected
by specific disclosure procedures required by this Act to be followed by all
broker-dealers, including but not limited to, determining the suitability of
the stock for a particular customer, and obtaining a written agreement from
the customer to purchase the stock.  This rule may affect the ability of
broker-dealers to sell our securities and may affect the ability of purchasers
to sell our securities in any market.

     Investigation and Selection of Acquirer

     We anticipate that potential acquirers will come to our attention from
various sources, including our officers and directors, our stockholders,
professional advisors such as attorneys and accountants, securities
broker-dealers, investment banking firms, venture capitalists, members of the
financial community and others who may present unsolicited proposals.
Management expects that prior personal and business relationships may lead to
contacts with these various sources.

     Our management will analyze the potential acquirers; however, none of our
management are professional business analysts.  (See, Part III, Item 9:
"Directors and Executive Officers; . . .")  A decision to participate in a
specific sale may be made upon our management's analysis of the quality of the
potential acquirer's management and personnel, the anticipated acceptability
of the potential acquirer's new products or marketing concept, the merit of
its technological changes, the perceived benefit that it will derive from
becoming a publicly held entity, and numerous other factors which are
difficult, if not impossible, to analyze through the application of any
objective criteria.

     Form of Acquisition

     We cannot predict the manner in which we may participate in an
acquisition.  Potential acquirers will be reviewed as well as our needs and
desires and those of the acquirer.  The legal structure or method deemed by
management to be suitable will be selected based upon our review and our
relative negotiating strength. We may sell the company in an arm's length
transaction to a potential acquirer or we may merge with an operating company
through a reverse acquisition and retain partial ownership of the surviving
company.  Methods may include, but are not limited to, leases, purchase and
sale agreements and other contractual arrangements. We may act directly or
indirectly through an interest in a partnership, corporation or other forms of
organization.  We may be required to merge, consolidate or reorganize with
other corporations or forms of business organizations.  In addition, our
present management and parent company most likely will not have control of a
majority of our voting shares following a reorganization transaction. As part
of such a transaction, our existing directors may resign and new directors may
be appointed without any vote by our parent company.

     We likely will be acquired through the issuance of common stock or other
securities.  Although the terms of any such transaction cannot be predicted,
it should be noted that issuance of additional shares also may be done
simultaneously with a sale or transfer of shares held by our parent
corporation.

     Competition

     We expect to encounter substantial competition in our effort to locate
attractive potential acquirers.  Business development companies, venture
capital partnerships and corporations, venture capital affiliates of large
industrial and financial companies, small investment companies, and wealthy
individuals will be our primary competition.  Many of these entities will have
significantly greater experience, resources and managerial

                                4

<PAGE>

capabilities than we do and will be in a better position than we are to obtain
access to attractive potential acquirers.  We also will experience competition
from other public companies, many of which may have more funds available for
such transactions.

     Employees

     We currently have no employees.  We do not anticipate a need to engage
any full-time employees so long as we are seeking and evaluating potential
acquirers.

                       ITEM 2: PROPERTIES

     We do not currently own or lease any real property.  We use office space
at the corporate headquarters of our parent corporation.

                    ITEM 3: LEGAL PROCEEDINGS

     In June 2001 Sunrise International Leasing Corporation, a Minnesota
corporation and assignee of Sun Microsystems Finance, filed a complaint in the
Fourth District Court, County of Hennepin, of the State of Minnesota, related
to the default under the equipment lease agreement between Logio and Sun
Microsystems.  Sunrise International sought damages of approximately $444,589
and costs and reasonable attorney fees.  On September 24, 2001, this matter
was dismissed without prejudice in the State of Minnesota.  On September 8,
2002 Sunrise International Leasing Corporation agreed to a settlement
agreement in which Sunrise International accepted the previous return of the
equipment as satisfaction in full of the total debt.

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

     We have not submitted a matter to a vote of our shareholders during the
fourth quarter of the 2002 fiscal year.


                             PART II

ITEM 5: MARKET PRICE FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

     We do not have an active public trading market at this time.  Our parent
corporation, Pacific WebWorks, is the beneficial owner of all of our
18,425,830 outstanding common shares.

     We have not declared dividends on our common stock and do not anticipate
paying dividends on our common stock in the foreseeable future.

Securities Under Equity Compensation Plans

     We do not have any securities authorized for issuance under any equity
compensation plans.

Recent Sales of Unregistered Securities

     The following discussion describes all securities sold by Logio without
registration during the past three years

     On October 25, 2000 our Board authorized the issuance of 1,500,000 common
shares to Technology Equity Fund Corp. to convert a debt of $240,000 with
interest.  We relied on an exemption from registration for a private
transaction not involving a public distribution provided by Section 4(2) of
the Securities Act.


                                5
<PAGE>


                    ITEM 6: PLAN OF OPERATION

     We have a limited operating history, have sustained operating losses
since inception and have ceased development of our products.  In July 2002,
the board of directors of our parent company resolved to discontinue our
operations.  Our parent company intends to actively seek a potential acquirer
for Logio.  As a result, we will be unable to generate cash flows in the
foreseeable future.  At December 31, 2002, we had no cash on hand and no total
current assets compared to no cash on hand and total assets of $91,791 at the
year ended December 31, 2001.  Our total current liabilities were $224,778 at
the year ended December 31, 2002, compared to total current liabilities of
$844,018 at the 2001 year end.  Our accumulated deficit was $19,236,199 at the
2002 year end.

     We have no material commitments for capital expenditures for the next
twelve months and our major obligations are related to capital lease
agreements which are in default, a bank overdraft, and payables past due.
Management has been successful in negotiating settlements of a significant
portion of these leases.  On September 8, 2002, Sunrise International Leasing
Corporation agreed to a settlement agreement in which Sunrise International
accepted the previous return of the equipment as satisfaction in full of the
total debt of approximately $444,589.  At December 31, 2002, our remaining
liabilities include an Oracle Corporation liability of approximately $125,000,
approximately $52,174 in other past due payables, a capital lease with Key
Bank totaling $17,825, with accrued interest of $3,953, and a bank overdraft
of $23,766. During the next twelve months our management will attempt to
receive forgiveness of our remaining debts.  If management is unsuccessful, we
may be forced to seek bankruptcy protection.

     We believe that our current cash needs for the next twelve months are
limited.  We have relied on a line-of-credit agreement with our parent company
for funding, but we exceeded the agreed upon limit of $120,000.  As of
September 30, 2002, we owed $148,554 on this line-of-credit, with 12%
interest.  In order to close out this obligation, our parent company accepted
title to our equipment, valued at approximately $58,077 and wrote off the
remaining debt as a capital contribution in the fourth quarter of the 2002
year.

     Our management intends to sell Logio and, depending upon the structure of
the transaction, may issue common shares.  We intend to issue this stock
pursuant to exemptions provided by federal and state securities laws.  The
purchasers and manner of issuance will be determined according to our
financial needs and the available exemptions.


                   ITEM 7: FINANCIAL STATEMENTS










                                6
<PAGE>





                      CHISHOLM & ASSOCIATES
A Professional           Certified Public Accountants    Office (801)292-8756
Corporation                    P.O. Box 540216              Fax (801)292-8809
                   North Salt Lake, Utah 84054
_____________________________________________________________________________






                   INDEPENDENT AUDITOR'S REPORT


To the Board of Directors and Stockholders
of Logio, Inc.

We have audited the accompanying  balance sheets of Logio, Inc. as of December
31, 2002 and 2001 and the related  statements of operations, stockholders'
equity and cash flows for the years then ended.  These financial statements
are the responsibility of the Company's management.  Our responsibility is to
express an opinion on these  financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally
accepted in the United States of America.  Those standards require that we
plan and perform the audits to obtain reasonable assurance about whether the
financial statements are free of material misstatement.  An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the  financial statements.  An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall  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 Logio, Inc. as of December
31, 2002 and 2001 and the results of its operations and cash flows for the
years then ended in conformity with accounting principles generally accepted
in the United States of America.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern.  The Company has discontinued
operations, has negative working capital and is dependent upon financing to
continue as a going concern.  Management's plans in regard to these matters
are described in Note B.  The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.



/s/ Chisholm & Associates

Chisholm & Associates
North Salt Lake, Utah
January 21, 2003





<PAGE> 7






                           Logio, Inc.
       A wholly owned subsidiary of Pacific WebWorks, Inc.
                  (a development stage company)

                   CONSOLIDATED BALANCE SHEETS


                              ASSETS

                                                           December 31,
                                                      2002           2001
                                                   ------------- ------------
CURRENT ASSETS                                     $          -  $         -

NET LONG-TERM ASSETS OF DISCONTINUED OPERATIONS               -       91,791
                                                   ------------- ------------

                                                   $          -  $    91,791
                                                   ============= ============

              LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES

  Net current liabilities in discontinued operations    224,778      844,018
                                                   ------------- ------------

    Total current liabilities                           224,778      844,018

STOCKHOLDERS' DEFICIT

  Preferred stock                                             -            -
  Common stock                                           18,426       18,426
  Additional paid-in capital                         18,993,086   18,893,398
  Deficit accumulated during the development stage  (19,236,199) (19,663,960)
  Treasury stock                                            (91)         (91)
                                                   ------------- ------------

    Total stockholders' deficit                        (224,778)    (752,227)
                                                   ------------- ------------

                                                   $          -  $    91,791
                                                   ============= ============


The accompanying notes are an integral part of these financial statements


<PAGE> 8


                           Logio, Inc.
        A wholly owned subsidiary of Pacific WebWorks, Inc.
                  (a development stage company)

              CONSOLIDATED STATEMENTS OF OPERATIONS


                                     Cumulative
                                     amounts              Year ended
                                     since                December 31,
                                     inception          2002          2001
                                     ------------- ------------- -------------

Net revenues                         $          -  $          -  $          -
                                     ------------- ------------- -------------

Operating expenses                              -             -             -
                                     ------------- ------------- -------------
  Earnings (loss) from
  continuing operations                         -             -             -
                                     ------------- ------------- -------------
Discontinued operations
  Loss from operations (net of
    income taxes)                     (13,156,843)      (27,104)   (1,670,151)
  Gain on disposal (net of
    income taxes)                         454,865       454,865             -
                                     ------------- ------------- -------------
     Total gain (loss) from
      discontinued operations         (12,701,978)      427,761    (1,670,151)
                                     ------------- ------------- -------------

  NET EARNINGS (LOSS)                 (12,701,978)      427,761    (1,670,151)
                                     ------------- ------------- -------------
     Deduction for dividends
      and accretion                    (6,534,221)            -             -
                                     ------------- ------------- -------------
  Net earnings (loss) attributable
    to common stockholders           $(19,236,199) $    427,761  $ (1,670,151)
                                     ============= ============= =============
Net earnings (loss) per common
 share - basic and diluted:

     Earnings (loss) from
     continuing operations           $          -  $          -  $          -

     Earnings (loss) from
     discontinued operations                (1.11)         0.02         (0.09)

     Deduction for dividends
     and accretion                          (0.57)            -             -
                                     ------------- ------------- -------------

                                     $      (1.68) $       0.02  $      (0.09)
                                     ============= ============= =============




The accompanying notes are an integral part of these financial statements

<PAGE> 9
<TABLE>
<CAPTION>


                             Logio, Inc.
         A wholly owned subsidiary of Pacific WebWorks, Inc.
                    (a development stage company)

                CONSOLIDATED STATEMENTS OF CASH FLOWS



                                                 Cumulative
                                                 amounts              Year ended
                                                 since                December 31,
                                                 inception          2002          2001
                                                 ------------- ------------- -------------

                                              <c>           <c>           <c>
Increase (decrease) in cash and cash equivalents
 Cash flows from operating activities
   Net earnings (loss)                           $(19,236,199) $    427,761  $ (1,620,959)
   Less: loss (gain) from discontinued operations  19,236,199      (427,761)    1,620,959
                                                 ------------- ------------- -------------
   Net earnings (loss) from continuing operations           -             -             -
   Adjustments to reconcile net loss
    to net cash used in operating activities                -             -             -
   Changes in operating assets and liabilities              -             -             -
                                                 ------------- ------------- -------------

     Net cash used in operating activities                  -             -             -
                                                 ------------- ------------- -------------
Net cash provided by (used in)
 investing activities                                       -             -             -
                                                 ------------- ------------- -------------

Net cash provided by financing activities                   -             -             -
                                                 ------------- ------------- -------------
     Net cash provided by (used in)
     continuing operations                                  -             -             -

     Net cash used in discontinued operations               -             -       (25,849)
                                                 ------------- ------------- -------------
     Net increase (decrease) in cash and
     cash equivalents                                       -             -       (25,849)


  Cash and cash equivalents at
  beginning of period                                       -             -        25,849
                                                 ------------- ------------- -------------

  Cash and cash equivalents at end of period     $          -  $          -  $          -
                                                 ============= ============= =============


Supplemental disclosures of cash flow information:
  Cash paid for interest                                       $          -  $      7,259
  Cash paid for income taxes                                              -             -






The accompanying notes are an integral part of these financial statements


</TABLE>
<PAGE> 10
<TABLE>
<CAPTION>


                                    Logio, Inc.
                           (a development stage company)

                  CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY

           Years ended December 31, 2002, 2001, 2000, 1999, 1998, 1997,
         and period from November 5, 1996 (inception) to December 31, 1996

                                                                                      Accumu-
                                                                                      lated       Deficit
                                                                                      other       accumulated
                                Preferred Stock   Common Stock    Additional          compre-     during the
                        Price   --------------- ----------------- paid-in    Treasury hensive     development
                  Date  share   Shares  Amount  Shares    Amount  capital    stock    income      stage
                 ------ ------- ------- ------- --------- ------- ---------- -------- ----------- -----------

              <c>    <c>     <c>     <c>     <c>       <c>     <c>        <c>      <c>         <c>
Balances at
November 5, 1996     -  $     -      -  $    -         -  $    -  $       -  $     -  $        -  $        -

Net loss             -        -      -       -         -       -          -        -           -           -
                                ------- ------- --------- ------- ---------- -------- ----------- -----------
Balances at
December 31, 1996    -        -      -       -         -       -          -        -           -           -

Issuance of
stock for cash
to organizers    Jan-97   0.001      -       -    622,500    623         52        -           -           -

Issuance of
stock for cash   Feb-97   0.001      -       -     67,500     67          8        -           -           -

Issuance of
stock for
licence
agreement        Feb-97       -      -       -    110,742    111       (111)       -           -           -

Issuance of
stock to
employees
for services     Sep-97   0.333      -       -    252,450    252     83,898        -           -           -

Issuance of
stock for
services         Aug-97   1.092      -       -     37,875     38     41,337        -           -           -

Net loss for
the year              -       -      -       -         -       -          -        -           -    (335,218)
                                ------- ------- --------- ------- ---------- -------- ----------- -----------
Balances at
December 31, 1997     -       -      -       -  1,091,067  1,091    125,184        -           -    (335,218)



                                    (Continued)
</TABLE>
<PAGE> 11
<TABLE>
<CAPTION>




                                    Logio, Inc.
                           (a development stage company)

            CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - CONTINUED

           Years ended December 31, 2002, 2001, 2000, 1999, 1998, 1997,
         and period from November 5, 1996 (inception) to December 31, 1996

                                                                                       Accumu-
                                                                                       lated       Deficit
                                                                                       other       accumulated
                                Preferred Stock   Common Stock     Additional          compre-     during the
                        Price   --------------- -----------------  paid-in    Treasury hensive     development
                  Date  share   Shares  Amount  Shares     Amount  capital    stock    income      stage
                 ------ ------- ------- ------- ---------- ------- ---------- -------- ----------- -----------

              <c>    <c>     <c>     <c>     <c>        <c>     <c>        <c>      <c>         <c>
Issuance of
stock for cash   Jul-98    4.17      -       -     120,000     120    499,880       -           -           -

Reverse
acquisition and
reorganization
adjustment       Jul-98       -      -       -   9,885,435   9,886     (8,550)      -           -           -

Issuance of
stock for cash   Jul-98   0.725      -       -     690,000     690    499,310       -           -           -

Issuance of
stock for debt
conversion       Jul-98    0.96      -       -      13,500      13     12,987       -           -           -

Issuance of
stock for
services         Oct-98    1.90      -       -      39,000      39     70,161       -           -           -

Issuance of
stock for
software
technology       Oct-98    1.80      -       -      13,000      13     23,387       -           -           -

Issuance of
stock for
insurance
coverage         Nov-98    1.00      -       -      25,000      25     24,975       -           -           -

Net loss
for the year          -       -      -       -           -       -          -       -           -    (482,909)
                                ------- ------- ---------- ------- ---------- -------- ----------- -----------
Balances at
December 31, 1998     -       -      -       -  11,877,002  11,877  1,247,334       -           -    (818,127)




                                    (Continued)

</TABLE>
<PAGE> 12
<TABLE>
<CAPTION>


                                    Logio, Inc.
                           (a development stage company)

            CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - CONTINUED

           Years ended December 31, 2002, 2001, 2000, 1999, 1998, 1997,
         and period from November 5, 1996 (inception) to December 31, 1996

                                                                                      Accumu-
                                                                                      lated       Deficit
                                                                                      other       accumulated
                                Preferred Stock   Common Stock    Additional          compre-     during the
                        Price   --------------- ----------------- paid-in    Treasury hensive     development
                  Date  share   Shares  Amount   Shares   Amount  capital    stock    income      stage
                 ------ ------- ------- ------ ---------- ------- ---------- -------- ----------- ------------

              <c>    <c>     <c>     <c>    <c>        <c>     <c>        <c>      <c>         <c>
Issuance of
warrants for
consulting
services         Jan-99       -      -      -           -      -     258,000       -           -           -

Issuance of
preferred stock
for cash, net of
offering costs   Feb-99   1,000  6,100     61           -      -   5,719,839       -           -           -

Issuance of
preferred
stock for
cash, net of
offering costs   Mar-99   1,000    200      2           -      -     187,998       -           -           -

Issuance of
common stock
for exercise
of options       Jun-99    0.11      -      -       2,000      2      21,998       -           -           -

Issuance of
common stock
for exercise
of options       Aug-99    0.10      -      -       4,000      4         396       -           -           -

Issuance of
common stock
for conversion
of debt          Dec-99    3.25      -      -       8,000      8      25,992       -           -           -

Issuance of
stock options
to employees for  Jan -
compensation     Dec 99       -      -      -           -      -   1,430,610       -           -           -

Accretion of
intrinsic value
of preferred      Feb-
stock            Dec 99       -      -      -           -      -   6,131,944       -           -   (6,131,944)

Dividends on      Feb -
preferred stock  Dec 99       -      -      -           -      -     337,917       -           -     (337,917)

Unrealized gain
on short-term
investments           -       -      -      -           -      -           -       -       7,940           -

Net Loss for
the year              -       -      -      -           -      -           -       -           -   (4,929,880)
                                ------- ------ ---------- ------- ---------- -------- ----------- ------------
Balances at
 December 31, 1999    -       -  6,300     63  11,891,002  11,891 15,362,028       -       7,940  (12,217,867)


                                    (Continued)


</TABLE>
<PAGE> 13
<TABLE>
<CAPTION>

                                    Logio, Inc.
                           (a development stage company)

            CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - CONTINUED

           Years ended December 31, 2002, 2001, 2000, 1999, 1998, 1997,
         and period from November 5, 1996 (inception) to December 31, 1996


                                                                                        Accumu-
                                                                                        lated    Deficit
                                                                                        other    accumulated
                                Preferred Stock   Common Stock     Additional           compre-  during the
                        Price   --------------- -----------------  paid-in     Treasury hensive  development
                  Date  share   Shares  Amount  Shares     Amount  capital     stock    income   stage
                 ------ ------- ------- ------- ---------- ------- ----------- -------- -------- -------------

              <c>    <c>     <c>     <c>     <c>        <c>     <c>         <c>      <c>      <c>
Issuance of
common stock
for exercise
of options       Jan 00    0.10      -       -       2,000       2         198       -        -             -

Issuance of
common stock
for exercise
of warrants      Jan 00    5.00      -       -     100,000     100     499,900       -        -             -

Conversion of
preferred stock
to common stock  Feb 00       - (2,500)    (25)    248,016     248        (223)      -        -             -

Issuance of
common stock
for exercise
of options       Mar 00    0.10      -       -      12,000      12       1,188       -        -             -

Issuance of
common stock
for exercise
of warrants      Mar 00    7.00      -       -      58,000      58     405,942       -        -             -

Conversion of
preferred stock
to common stock  Mar 00       - (3,800)    (38)    376,984     377        (339)      -        -             -

Issuance of
common stock for
reset shares     Mar 00       -      -       -     727,756     728        (728)      -        -             -

Dividends on      Jan -
preferred stock  Mar 00       -      -       -           -       -      64,360       -        -       (64,360)

Issuance of
common stock
for preferred
dividends paid   Mar 00       -      -       -      61,650      62         (62)      -        -             -

Issuance of
common stock
for exercise     April &
of options       Oct 00    0.10      -       -       7,000       7         693       -        -             -

Unrealized gain
on marketable     Jan -
securities       Sep 00       -      -       -           -       -           -       -    6,071             -

Net realized
gain on
marketable        Jan -
securities       Jun 00       -      -       -           -       -           -       -  (14,011)            -

Issuance of
stock for
conversion
of notes          Sep -    0.16 -
payable          Oct 00    0.251     -       -   4,315,000   4,315   1,058,364       -        -             -

Issuance of
stock for
conversion
of notes
payable to        Sep &    0.81 -
shareholders     Oct 00    0.82       -       -     626,422     626     511,040       -        -             -

Issuance of
warrants for
consulting        May -
services         Dec 00      -       -       -           -       -     169,043       -        -             -

Issuance of
stock options
to employees for  Jan-
compensation     Dec 00      -       -       -           -       -     660,590       -        -             -

Net loss for
the year ended
December 31, 2000            -       -       -           -       -           -       -        -    (5,666,993)
                                ------- ------- ---------- ------- ----------- -------- -------- -------------
Balances at
December 31, 2000            -       -       -  18,425,830  18,426  18,731,993       -        -   (17,949,220)
                                ------- ------- ---------- ------- ----------- -------- -------- -------------


                                    (Continued)

</TABLE>
<PAGE> 14
<TABLE>
<CAPTION>




                                    Logio, Inc.
                           (a development stage company)

            CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - CONTINUED

           Years ended December 31, 2002, 2001, 2000, 1999, 1998, 1997,
         and period from November 5, 1996 (inception) to December 31, 1996



                                                                                        Accumu-
                                                                                        lated    Deficit
                                                                                        other    accumulated
                                Preferred Stock   Common Stock     Additional           compre-  during the
                        Price   --------------- -----------------  paid-in     Treasury hensive  development
                  Date  share   Shares  Amount  Shares     Amount  capital     stock    income   stage
                 ------ ------- ------- ------- ---------- ------- ----------- -------- -------- -------------

              <c>    <c>     <c>     <c>     <c>        <c>     <c>         <c>      <c>      <c>

Repurchase of
stock            Feb-01      -       -       -           -       -           -     (91)       -             -

Issuance of
stock options
to employees for  Jan -
compensation     Dec 01      -       -       -           -       -     161,405       -        -             -

Net loss for
the year ended
December 31, 2001            -       -       -           -       -           -       -        -    (1,714,740)
                                ------- ------- ---------- ------- ----------- -------- -------- -------------
Balances at
December 31, 2001            -       -       -  18,425,830  18,426  18,893,398     (91)       -   (19,663,960)

Parent forgiveness
of intercompany
line-of-credit               -       -       -          -        -      99,688       -        -             -

Net loss for
the year ended
December 31, 2002            -       -       -          -        -           -       -        -       427,761
                                ------- ------- ---------- ------- ----------- -------- -------- -------------
Balances at
 December 31, 2002      $    -       -  $    -  18,425,830 $18,426 $18,993,086 $   (91) $     -  $(19,236,199)
                                ======= ======= ========== ======= =========== ======== ======== =============






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


</TABLE>
<PAGE> 15

                           Logio, Inc.
       A wholly owned subsidiary of Pacific WebWorks, Inc.
                  (a development stage company)

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                        December 31, 2002



NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A summary of significant accounting policies consistently applied in the
presentation of the accompanying consolidated financial statements follows.

1. The Company
   -----------

Logio, Inc., formerly WordCruncher Internet Technologies, Inc., (the Company)
is a development stage company, historically engaged in the development and
marketing of a focused Internet directory and search engine intended to
service the needs of the business professional.

The Company has ceased the development of its products and its operations and
has not produced any significant revenues to date.

The Company was incorporated on November 5, 1996 in the State of Utah under
the name of Redstone Publishing, Inc.   The name was changed from Redstone
Publishing, Inc. to WordCruncher Publishing Technologies, Inc. in early 1997.
During July 1998, the Company merged with Dunamis, Inc. a public Company
organized in the State of California. The merger was recorded as a reverse
acquisition, therefore WordCruncher was the accounting survivor.

In connection with the merger, Dunamis, the legal survivor, changed its name
to WordCruncher Internet Technologies, Inc. and changed its domicile to the
State of Nevada. The Company's headquarters are in Salt Lake City, Utah.

On April 18, 2000, the Board of Directors approved the change of the Company's
name to Logio, Inc.  The change was approved by the Company's stockholders in
June 2000.  The Company also amended its articles of incorporation and filed
the appropriate documents with the state of Nevada in June 2000 when the
Company officially changed its name to Logio, Inc.

On February 8, 2001, Pacific WebWorks, Inc. completed its acquisition of
Logio, Inc., in a stock-for-stock exchange.  Pacific WebWorks exchanged
2,800,000 shares of its common stock for 18,425,830 shares of common stock.
This transaction was accounted for on the purchase method of accounting using
generally accepted accounting principles and valued at approximately
$2,450,000 representing the fair value of the Pacific WebWorks shares on the
date of exchange.  Logio's results of operations are included in the Pacific
WebWorks, Inc. consolidated results of operations from the acquisition date to
December 31, 2001 and the fair value of its assets and liabilities have also
been recorded on the acquisition date and are included in the Pacific
WebWorks, Inc. consolidated balance sheet.


<PAGE> 16

                           Logio, Inc.
       A wholly owned subsidiary of Pacific WebWorks, Inc.
                  (a development stage company)

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                        December 31, 2002

NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued

2. Use of Estimates
   ----------------

The preparation of financial statements in conformity with accounting
principles generally accepted in the United States of America requires
management to make estimates and assumptions that affect the amounts reported
in the consolidated financial statements and accompanying notes.  Management
believes that the estimates used in preparing the financial statements are
reasonable and prudent; however, actual results could differ from these
estimates.

3. Depreciation and amortization
   -----------------------------

Depreciation of property and equipment is provided on the straight-line method
over the estimated useful lives of the assets.  Accelerated methods of
depreciation of property and equipment are used for income tax purposes.

4. Fair value of financial instruments
   -----------------------------------

The fair value of the Company's net assets of discontinued operations
approximate carrying value based on their effective interest rates compared to
current market prices.

5. Impairment of Long-Lived and Intangible Assets
   ----------------------------------------------

The Company has adopted Statement of Financial Accounting Standard No. 144
(SFAS 144), "Accounting for the Impairment or Disposal of Long-Lived Assets".
SFAS replaces Statement No. 121, "Accounting for the Impairment of Long-Lived
Assets and for Long-Lived Assets to be Disposed Of".  SFAS 144 prescribes,
among other things, an accounting model for long-lived assets to be disposed
of including sales and discontinued operations.

During the year ended December 31, 2001, as a result of certain events (Notes
D and G) and management's assessment of impaired assets due to the Company's
inability to generate cash flows, the Company recorded $987,372 in losses
relating to the impairment of certain long-lived assets.

<PAGE> 17

                           Logio, Inc.
       A wholly owned subsidiary of Pacific WebWorks, Inc.
                  (a development stage company)

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                        December 31, 2002



NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued

6.  Income Taxes

The Company utilizes the liability method of accounting for income taxes.
Under the liability method, deferred income tax assets and liabilities are
provided based on the difference between the financial statement and tax bases
of assets and liabilities measured by the currently enacted tax rates in
effect for the years in which these differences are expected to reverse.
Deferred tax expense or benefit is the result of changes in deferred tax
assets and liabilities.

No provision for income taxes has been recorded due to net operating loss
carry forwards totaling approximately $9,600,000 that will be offset against
future taxable income, if any.  These carry forwards begin to expire in 2013.
No tax asset has been reported in the financial statements because the Company
has not yet proven it can generate taxable income.

Deferred tax assets and the valuation account are as follows at December 31,
2002 and 2001:

                                                    2002          2001
                                                ------------ ------------
Deferred tax asset:
 NOL carry forward                              $ 3,269,179  $ 3,555,000
 Valuation allowance                             (3,269,179)  (3,555,000)
                                                ------------ ------------
   Total                                        $         -  $         -
                                                ============ ============


7.  Net Earnings (Loss) Per Share
    ------------------------------

The computation of net earnings (loss) per share of common stock is based on
the weighted average number of shares outstanding during each period
presented.  There were no potentially dillutive shares outstanding for Logio
at December 31, 2002 or 2001.


<PAGE> 18


                           Logio, Inc.
       A wholly owned subsidiary of Pacific WebWorks, Inc.
                  (a development stage company)

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                        December 31, 2002


NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued


8. Development Stage Company
   -------------------------

The Company has not generated significant revenue since inception and is
considered a development stage company as defined in Financial Accounting
Standards Board Statement No. seven.

9. Recently Adopted Accounting Pronouncements
   ------------------------------------------

Impairment of Long-Lived and Intangible Assets
----------------------------------------------
The Company has adopted Statement of Financial Accounting Standard No. 144
(SFAS 144), "Accounting for the Impairment or Disposal of Long-Lived Assets".
SFAS replaces Statement No. 121, "Accounting for the Impairment of Long-Lived
Assets and for Long-Lived Assets to be Disposed Of".  SFAS 144 prescribes,
among other things, an accounting model for long-lived assets to be disposed
of including sales and discontinued operations. The resulting adoption of this
standard did not have a material impact on the Company's financial statements.

Previously, the Company followed Statement of Financial Accounting Standards
(SFAS) No. 121, Accounting for the Impairment of Long-Lived Assets and for
Long-Lived Assets to be Disposed of, which requires that impairment losses be
recognized on such assets when indicators of impairment are discovered and
estimated undiscounted future cash flows to be generated from those assets are
less than their carrying value.  During the year ended December 31, 2001, and
as a result of certain events and management's assessment of impaired assets,
the Company recorded $911,532 in expenses related to the impairment of
equipment under capital leases that was returned to a vendor.

Business Combinations and Goodwill
----------------------------------
The Company has adopted Statement of Financial Accounting Standards (SFAS) No.
141 (SFAS 141), "Business Combinations" and No. 142 (SFAS 142), "Goodwill and
Other Intangible Assets", which establishes new standards for the treatment of
goodwill and other intangible assets.  SFAS 142 prescribes that amortization
of goodwill ceased as of the adoption date (January 1, 2002).  Additionally,
the Company will be required to perform an impairment test on goodwill and
other intangible assets annually, and whenever events and circumstances occur
that might affect the carrying value of such assets.  The resulting adoption
of this standard did not have a material impact on the Company's financial
statements.


<PAGE> 19


                           Logio, Inc.
       A wholly owned subsidiary of Pacific WebWorks, Inc.
                  (a development stage company)

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                        December 31, 2002


NOTE B - MANAGEMENT'S PLANS AND ISSUES AFFECTING LIQUIDITY

The Company's financial statements have been prepared assuming that the
Company will continue as a going concern.  The Company is in the development
stage and has a limited operating history and has sustained no significant
revenues and cumulative losses since inception of $19,236,199 at December 31,
2002.  The development of the Company's products has ceased. In addition the
Company had negative working capital of $224,778 at December 31, 2002 and
$844,018 at December 31, 2001.  As a result, in periods of operation, the
Company relied significantly upon debt funding and contributions by its parent
to support certain of its obligations.

In July 2002, the board of directors of the Company's parent resolved to
formally discontinue operations of Logio, Inc., and,  while the intent is the
ultimate sale of Logio, Inc. to a third party for the assumption of all
remaining debt, the Company's business plans are uncertain. The Company
continues to seek relief from its remaining liabilities.

The Company will not be able to generate cash flows in the foreseeable future
as it has ceased operations and development and has no cash balances.  The
Company is unable to pay liabilities approximating $225,000 to various
professional services firms, creditors, vendors, and an overdraft in a bank.
Based upon these facts, the Company may be required to seek bankruptcy
protection.

There is substantial doubt about the Company's ability to continue as a going
concern.  The financial statements do not include any adjustments to reflect
the possible effects on the recoverability and classification of assets or the
amounts and classification of liabilities that may result from the outcome of
this uncertainty.










<PAGE> 20


                           Logio, Inc.
       A wholly owned subsidiary of Pacific WebWorks, Inc.
                  (a development stage company)

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                        December 31, 2002


NOTE C - PROPERTY AND EQUIPMENT

Property and equipment includes the following:

                                           December 31,      Estimated
                                        2002          2001   useful lives
                                  ------------- ------------ ------------
      Computer Equipment          $          -  $   125,691     3-5
      Furniture and fixtures                 -       34,870     3-7
      Software                               -       12,083     2-3
                                  ------------- ------------
                                             -      172,644

      Less Accumulated Depreciation          -      (80,853)
                                  ------------- ------------

                                  $          -  $    91,791
                                  ============= ============

In September 2002, Pacific WebWorks, Inc. board of directors resolved to
demand Logio's remaining line-of-credit and interest due totaling $150,753 in
exchange for property and equipment with a book value of approximately
$51,065.  The resulting difference of $99,688 was recorded as
additional-paid-in capital from the parent.


NOTE D - IMPAIRMENT LOSSES

As discussed in Note B, in March 2001, the Company was unable to make payment
on some of its capital lease obligations.  The Company transferred the
equipment back to the vendor in May 2001.  The default on these and other
capital lease obligations, approximating $440,000 at December 31, 2001,
results in impairment losses of $122,685, representing cash down payments by
Logio at the beginning of the leases that were being amortized over the life
of the leases and $788,847 in equipment under capital leases and related
software and components. The leases would have expired through December 2002.



<PAGE> 21



                           Logio, Inc.
       A wholly owned subsidiary of Pacific WebWorks, Inc.
                  (a development stage company)

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                        December 31, 2002

NOTE E - STOCKHOLDERS' EQUITY

Acquisition by Pacific WebWorks, Inc.
-------------------------------------
As discussed in Note A, in February of 2001, the Company was effectively
acquired by Pacific WebWorks, Inc. in a stock-for-stock exchange.  Pacific
WebWorks exchanged 2,800,000 shares of its common stock with the Logio common
share holders for 18,425,830 shares of their common stock.  Pursuant to this
acquisition, dissention rights were offered to the Logio shareholders previous
to the effective date of acquisition and 320 shares were repurchased as
treasury stock by Logio, Inc. for a total of $91.


NOTE F - DISCONTINUED OPERATIONS

In July 2002, the Board of Directors of Pacific WebWorks, Inc. resolved to
discontinue its wholly owned subsidiary Logio, Inc. and set forth a formal
plan of disposal.  Logio, Inc., formerly WordCruncher Internet Technologies,
Inc., (the Company) conducted business as a development stage company,
historically engaged in the development and marketing of a focused Internet
directory and search engine intended to service the needs of the business
professional.  Logio, Inc. was acquired by Pacific WebWorks in February 2001.
Pacific WebWorks' Board has determined that there is no longer a viable market
for this product line.  Logio, Inc. has ceased the development and operations
of its products and has not produced any significant revenues to date.

The following includes the combined net current liabilities and net long-term
assets for the Company's discontinued operations:

                                                      December 31,
                                                    2002       2001
                                               ------------- -------------

ASSETS
Current assets                                 $          -  $          -
Long-term assets                                          -        91,791
                                               ------------- -------------

  Total assets                                 $          -  $     91,791
                                               ============= =============
LIABILITIES
Overdraft in bank                              $     23,766  $     23,766
Capital leases in default                            17,825       438,833
Payables past due                                   177,173       213,688
Accrued liabilities                                   6,014        32,018
Note payable to parent                                    -       135,713
                                               ------------- -------------
  Net current liabilities                      $    224,778  $    844,018
                                               ============= =============

  Net liabilities                              $    224,778  $    752,227
                                               ============= =============



<PAGE> 22

                           Logio, Inc.
       A wholly owned subsidiary of Pacific WebWorks, Inc.
                  (a development stage company)

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                        December 31, 2002



NOTE F - DISCONTINUED OPERATIONS - CONTINUED

The gains (losses) from discontinued operations for year ended December 31,
2002 include the Company's results of operations through the measurement date
of July 1, 2002.   The gain from disposal of discontinued operations for the
year ended December 31, 2002 includes the results of operations realized from
measurement date of July 1, 2002 through December 31, 2002.  The gain from
disposal of discontinued operations is primarily comprised of and
extraordinary gain totaling $456,925 from the forgiveness of a capital lease
in default (see Note G). The Company estimates that the ultimate sale or
disposal of discontinued operations will result in a gain net of phase-out
operating gains and losses.  Such gains will be recorded when realized.

In January 2001, the Company was notified by a software vendor that, due to
its default on financing arrangements, the software license was terminated.
The remaining amount due to the software vendor approximates $100,000 is
included in payables past due.


NOTE G - COMMITMENTS AND CONTINGENCIES

Threatened litigation
----------------------

The Company is involved in various disputes in the normal course of business.
It is not possible to state the ultimate liability, if any, in these matters.
In the opinion of management, any resulting litigation will have no material
effect on the financial position and results of operations of the Company in
excess of amounts recorded.  During June 2002, due to management's belief that
a threatened dispute with a vendor is no longer a probable risk to the
Company, an estimate of approximately $38,000 for the contingent liability was
changed to a zero balance in June 2002.

Settled liabilities
-------------------

In September 2002, Logio, Inc. entered into a Settlement Agreement and Release
of its capital lease default with Sunrise International Leasing Corporation.
Consideration for the settlement and release included Logio's verification of
the return of the capital lease equipment (in May 2001) and receipt of Logio,
Inc. audited financial statements.  The settlement and release approximates
$445,000 and Logio, has recorded an extraordinary gain for the forgiveness of
this capital lease in default of $456,925 for the year ended December 31,
2002, representing all amounts recorded and accrued for this matter. This gain
has been presented as a component of a gain on disposal of discontinued
operations in the Company's consolidated Statements of Earnings for the year
ended December 31, 2002.

<PAGE> 23

                           Logio, Inc.
       A wholly owned subsidiary of Pacific WebWorks, Inc.
                  (a development stage company)

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                        December 31, 2002



NOTE G - COMMITMENTS AND CONTINGENCIES - CONTINUED

Line-of-Credit and Intercompany Agreement - related party
---------------------------------------------------------

The Company entered into a Line-of-Credit and Intercompany Agreement with
Pacific WebWorks, Inc. (its beneficial shareholder and parent company) in
2001.  The Line-of-Credit Agreement, among other things, allowed for the
advancement of up to $120,000 as needed at an interest rate of 12%, is
collateralized by substantially all business assets of the Company, and was
payable on-demand.  The balance of the line-of-credit totaled $0 and $135,713
as of December 31, 2002 and December 31, 2001, respectively.

In September 2002, Pacific WebWorks, Inc. board of directors resolved to
demand the remaining line-of-credit and interest due totaling $150,753 in
exchange for property and equipment with a book value of $51,065.  The
resulting difference of $99,688 was recorded as additional-paid-in capital.
The Line-of-Credit and Intercompany Agreement between the companies was
dissolved in third quarter 2002.

Previous to September 2002, the Company was charged $1,067 monthly under the
Intercompany Agreement for management related fees and recorded income of
$1,422 monthly for rental of certain its fixed assets to the parent.  The
equipment was be rented by Pacific WebWorks until such time as Logio, Inc.
would re-commence development of its Internet products.

The Company will no longer record intercompany fees and income subsequent to
the third quarter 2002 dissolution of the Intercompany Agreement.

Intercompany transactions under the Line-of Credit and Intercompany Agreement
during the years ended December 31, 2002 and 2001 are included in the loss for
discontinued operations and are as follows:

                                                    2002         2001
                                               ------------- -------------

       Management fee expense                  $      6,402  $     12,804
       Rental Income                                 (8,532)      (17,064)
       Interest expense                               8,587        12,902
       Other                                              -        (1,422)
                                               ------------- -------------
       Net intercompany transactions           $      6,457  $      7,220
                                               ============= =============


<PAGE> 24

      ITEM 8: CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS
             ON ACCOUNTING AND FINANCIAL DISCLOSURE

     As previously reported on our Form 8-K, dated March 9, 2001, our board of
directors authorized the engagement of Chisholm & Associates, Certified Public
Accountants, as our independent certified public accountants for the fiscal
year ended December 31, 2000, and concurrently, dismissed Grant Thornton LLP,
which had served as our independent accountants since February 2000.


                             PART III

ITEM 9: DIRECTORS AND EXECUTIVE OFFICERS; COMPLIANCE WITH SECTION 16(a)

     Our executive officers and directors and their respective ages and
positions are set forth below.  Biographical information for each of those
persons is also presented below.  Our bylaws require three directors who serve
until our next annual meeting or until each is succeeded by another qualified
director who has been elected.  Our executive officers are chosen by our Board
of Directors and serve at its discretion.  There are no existing family
relationships between or among any of our executive officers or directors.

Name                     Age    Position
--------------------- --------- --------------------------------------------
Kenneth W. Bell          53     President, Secretary/Treasurer and Director
Thomas R. Eldredge       34     Director
James W. Johnston        50     Director

     Kenneth W. Bell: Mr. Bell joined Logio as Senior Vice President, Chief
Financial Officer, Secretary and Treasurer and Director in February 1997. On
April 18, 2000, the Board of Directors released Mr. Bell from his
responsibilities as Secretary. On June 2, 2000, our Board of Directors
appointed him as Chief Executive Officer and President of Logio, releasing him
from his responsibilities as Senior Vice President and Chief Financial
Officer.  Then in January 2001 he was appointed as our Secretary/Treasurer.
Prior to joining Logio, between April 1990 and December 1996, he served as
President and Chief Financial Officer of Kelmarc Corporation, a financial and
management advisory company. He has over thirty years experience in a variety
of finance and management positions, including employment in the commercial
banking area for fifteen years in Utah and California. Mr. Bell received his
B.S. from BYU in 1972.  Mr. Bell is a director of Pacific WebWorks, Inc. a
reporting company.

     Thomas R. Eldredge: In April of 2000, Mr. Eldredge joined Logio as our
Vice President of Finance and Corporate Secretary. On June 2, 2000, our Board
of Directors appointed Mr. Eldredge as Senior Vice President and Chief
Financial Officer.  In January 2001 our Board of Directors appointed him as an
interim director, releasing him from his responsibilities as Senior Vice
President and Chief Financial Officer.  Mr. Eldredge is a CPA and has over
eleven years of experience in accounting, audit and information systems.  He
spent over six years with Grant Thornton LLP, one of the nation's ten largest
public accounting firms, as a manager in that company's assurance department.
Mr. Eldredge is an assistant professor at the University of Utah in the
accounting and information systems department at the graduate and
undergraduate levels and has instructed students for over five years at the
University, Grant Thornton's National training center and Utah Valley State
College.  He received both his Bachelor of Science and Master of Professional
Accountancy from the University of Utah.

     James W. Johnston:  Mr. Johnston was a co-founder of WordCruncher
Publishing and has served as our Director since November 1996.  He has also
served as Chairman of the Board and Executive Vice President.  From December
1990 to November 1996, he was president of Johnston & Company, which published
virtual works using Logio technology, including the Constitution Papers (CD
ROM).  Mr. Johnston has extensive expertise in developing and marketing
products involving content presentation, analysis software and virtual
publishing.

                                25

<PAGE>

Section 16(a) Beneficial Ownership Reporting Compliance

     Section 16(a) of the Securities Exchange Act of 1934 requires our
directors, executive officers and person
who own more than ten percent of a registered class of our equity securities,
to file with the SEC initial reports of ownership and reports of changes in
ownership of our common stock.  Officers, directors and greater than
ten-percent beneficial owners are required by SEC regulations to furnish Logio
with copies of all Section 16(a) reports they file.  Since our parent
corporation holds all of our outstanding stock, we believe that no reports
were required under Section 16(a).


                 ITEM 10: EXECUTIVE COMPENSATION

     The following table summarizes the compensation paid to or earned by our
executive officer and directors during each of the past three fiscal years


                    SUMMARY COMPENSATION TABLE

-----------------------------------------------------------------------------
                                                              Long Term
                                   Annual Compensation        Compensation
                                   Compensation               Awards
                          ----------------------------------- ---------------
                                                              Securities
Name and                                      Other Annual    Underlying
Principal Position   Year Salary($)  Bonus($) Compensation($) Options/SARs(#)
-------------------- ---- ---------- -------- --------------- --------------
Kenneth W. Bell      2002 $       -       -              -             -
President, Secretary 2001    11,500       -              -             -
Treasurer, Director  2000    94,833       -              -       250,000 (1)

Thomas R. Eldredge   2002         -       -              -             -
Director             2001    10,792       -              -             -
                     2000    60,542       -              -       180,000 (1)

James W. Johnston    2002         -       -              -             -
Director             2001     7,500       -              -             -
                     2000    90,833       -              -       250,000 (1)


     (1) These options were converted to Pacific WebWorks options at an
exchange rate of 6.6 after Logio was acquired by Pacific WebWorks.  The
options to purchase 250,000 shares granted to Mr. Bell were converted to
options to purchase 37,879 Pacific WebWorks shares; Mr. Eldredge's options to
purchase 180,000 shares were converted to options to purchase 27,273 Pacific
WebWorks shares; and Mr. Johnston's options to purchase 250,000 shares were
converted to options to purchase 37,879 Pacific WebWorks shares.


ITEM 11: SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

     Our parent corporation beneficially owns 100% of our issued and
outstanding shares.


     ITEM 12:  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

     We have not engaged in, nor did we propose to engage in, any transactions
in excess of $60,000 during the past two years involving our executive
officers, directors, 5% or more stockholders or immediate family members of
such persons.

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<PAGE>

            ITEM 13: EXHIBITS AND REPORTS ON FORM 8-K
   Exhibits
     2.1     Agreement and Plan of Reorganization between Logio and Pacific
             WebWorks, Inc., dated October 31, 2000 (Incorporated by reference
             to exhibit 2.2 to Form 10-K filed April 17, 2001)
     3.1     Articles of Incorporation as amended (Incorporated by reference
             to exhibit 3.1 to Form 10-Q filed November 14, 2001)
     3.2     Bylaws of the Company (Incorporated by reference to exhibit 3.6
             of Form S-1, File No. 333-78537, as amended)
     10.1    Employment Agreement between Logio and Kenneth W. Bell, dated
             September 1, 1998 (Incorporated by reference to exhibit 10.4 of
             Form S-1, File No. 333-78537, as amended)
     10.2    Employment Agreement between Logio and James W. Johnston, dated
             September 1, 1998 (Incorporated by reference to exhibit 10.5 of
             Form S-1, File No. 333-78537, as amended)
     10.3    Lease Agreement between Logio and Sun Microsystems Finance, as
             amended (Incorporated by reference to exhibit 10.3 of Form 10-Q,
             filed May 15, 2001)
     10.4    License Agreement between Logio and Oracle Corporation
             (Incorporated by reference to exhibit 10.4 of Form 10-Q, filed
             May 15, 2001)
     10.5    Line of Credit and Inter-company Agreement between Logio and
             Pacific WebWorks, dated January 2, 2001 (Incorporated by
             reference to exhibit 10.5 of Form 10-Q filed August 13, 2001)
     99.1    Section 1350 Certification

Reports on Form 8-K

     None.


                 ITEM 14: CONTROLS AND PROCEDURES

     During the year ended December 31, 2002, we formalized the procedures we
rely on to ensure that material information regarding our company and its
operations is provided to the public in a timely manner.  On February 11,
2003, our principal executive and financial officer, Kenneth W. Bell,
evaluated the effectiveness of these disclosure controls and procedures and
determined that there were no significant deficiencies in these procedures.

     Also, Mr. Bell did not identify any deficiencies or material weaknesses
in our internal controls, nor did he identify fraud that involved management
or other employees who had a significant role in our internal controls.  He
did not find any deficiencies or weaknesses which would require changes to be
made or corrective actions to be taken related to our internal controls.



                                27

<PAGE>


                            SIGNATURES


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


Date:  April 14, 2003         LOGIO, INC.


                                    /s/ Kenneth W. Bell
                              By: ______________________________________
                                   Kenneth W. Bell
                                   President, Secretary/Treasurer,
                                   Principal Financial Officer and Director



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



                                    /s/ Thomas R. Eldredge
Date: April 14, 2003          By: ______________________________________
                                   Thomas R. Eldredge
                                   Director


                                    /s/ James W. Johnston
Date: April 14, 2003          By: ______________________________________
                                   James W. Johnston
                                   Director


            PRINCIPAL EXECUTIVE OFFICER CERTIFICATION

I, Kenneth W. Bell, certify that:

1.   I have reviewed this annual report on Form 10-KSB of Logio, Inc.;

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

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

4.   The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:


                                28
<PAGE>

<PAGE>

a)   designed such disclosure controls and procedures to ensure that material
information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities,
particularly during the period in which this annual report is being prepared;

b)   evaluated the effectiveness of the registrant's disclosure controls and
procedures as of a date within 90 days prior to the filing date of this annual
report (the "Evaluation Date"); and

c)   presented in this annual report our conclusions about the effectiveness
of the disclosure controls and procedures based on our evaluation as of the
Evaluation Date;

5.   The registrant's other certifying officers and I have disclosed, based on
our most recent evaluation, to the registrant's auditors and the audit
committee of registrant's board of directors (or persons performing the
equivalent function):

a)   all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data and have identified for the
registrant's auditors any material weaknesses in internal controls; and

b)   any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal controls;
and

6.   The registrant's other certifying officers and I have indicated in this
annual report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.


                                  /S/ Kenneth W. Bell
Date: April 14, 2003              ____________________________________
                                  Kenneth W.  Bell
                                  Principal Executive Officer


            PRINCIPAL FINANCIAL OFFICER CERTIFICATION

I, Kenneth W. Bell, certify that:

1.   I have reviewed this annual report on Form 10-KSB of Logio, Inc.;

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

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

4.   The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:


                                29
<PAGE>

a)   designed such disclosure controls and procedures to ensure that material
information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities,
particularly during the period in which this annual report is being prepared;

b)   evaluated the effectiveness of the registrant's disclosure controls and
procedures as of a date within 90 days prior to the filing date of this annual
report (the "Evaluation Date"); and

c)   presented in this annual report our conclusions about the effectiveness
of the disclosure controls and procedures based on our evaluation as of the
Evaluation Date;

5.   The registrant's other certifying officers and I have disclosed, based on
our most recent evaluation, to the registrant's auditors and the audit
committee of registrant's board of directors (or persons performing the
equivalent function):

a)   all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data and have identified for the
registrant's auditors any material weaknesses in internal controls; and

b)   any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal controls;
and

6.   The registrant's other certifying officers and I have indicated in this
annual report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.





                               /s/ Kenneth W. Bell
Date: April 14, 2003          ____________________________________
                              Kenneth W. Bell
                              Principal Financial Officer



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