SECURITIES AND EXCHANGE COMMISSION
                WASHINGTON, D.C. 20549
                     FORM 10-KSB/A

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

          For the year ended December 31, 2003

[ ]     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934 for the
transition period from

      __________________ to ____________________.


          Commission File Number 000-27129

               Asian Financial, Inc.
(Exact Name of Small Business Issuer as specified in its
charter)

Wyoming                                        91-1922225
(State or other Jurisdiction of            (I.R.S. Employer
Incorporation or Organization)       Identification Number)

51625 Desert Club Dr. Suite 207, La Quinta, CA      92253
(Address of principal executive office)          (Zip Code)

                  (760) 219-2776
            (Issuer's Telephone Number)

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               No     X


Indicate the number of shares outstanding of each of the
issuer's classes of Common equity, as of the latest
practicable date.


Common Stock, $.001 par value                    1,500,000
Title of Class                 Number of Shares Outstanding
                                      at September 9, 2005
No exhibits included.
PART I

Item 1.  Description of Business.

Business Development.

Asian Financial, Inc. (the "Company") was organized under
the laws of the State of Nevada on August 10, 1998.  The
Company was incorporated to engage in any lawful activity.

The Company's articles initially authorized the Company, to
issue a total of 100,000,000 shares of common stock, and
1,000,000 preferred, all with par value of $0.001.

Common Stock

On August 20, 1998, 473,250 shares of common stock were
issued to individuals for services rendered, at par for a
total of $473.25.

On December 20, 1998, 1,026,750 shares of common stock were
sold at par of $0.001 per share, for a total value of
$1,026.75.

As of December 31, 2003 and 2002, there were 1,500,000
common shares issued and outstanding.

Preferred Stock

No preferred stock has been issued since inception (August
10, 1998) through the years ended December 31, 2003 and
2002.

Item 2. Description of property

The Company currently has no assets or property.  The
Company's headquarters are furnished by Mr. Dempsey Mork,
President/CEO.

Item 3. Legal Proceedings

None

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

None




Part II

Item 5.  Market for Common Equity and Related Stockholders.

There is not currently a public trading market for the
Company's securities, and the Company will act as its own
transfer agent until an active public trading market is
established.  As of December 31, 2003, there were 1,500,000
common shares issued and outstanding.  No dividends have
been declared or paid on the Company's securities, and it
is not anticipated that any dividends will be declared or
paid in the foreseeable future. There were 52 shareholders
at September 9, 2005.

Item 6.  Management's Discussion and Analysis or Plan of
Operation

No significant business activity was conducted by the
Company during the fiscal year 2003.  As a result, no
income was earned by the Company in 2003 and there was no
cash in the bank at the end of the year.

The primary activity of the Company will involve seeking
merger or acquisition candidates with whom it can either
merge or acquire.  The Company has not selected any company
for acquisition or merger and does not intend to limit
potential acquisition candidates to any particular field or
industry, but does retain the right to limit acquisition or
merger candidates, if it so chooses, to a particular field
or industry. The Company's plans are in the conceptual
stage only.

We have a limited operating history on which to base an
evaluation of our business and prospects. Our prospects
must be considered in light of the risks, expenses and
difficulties frequently encountered by companies in their
early stages of development, particularly companies in new
and rapidly evolving markets.  We will encounter various
risks in implementing and executing our business strategy.
We can provide no assurance that we will be successful in
addressing such risks, and the failure to do so could have
a material adverse effect on our business.

The Company does not intend to make any loans to any
prospective merger or acquisition candidate, or to any
unaffiliated third parties.

The officers and directors of the Company are currently
involved in other activities and will devote only a portion
of their time to the specific business affairs of the
Company until such time as a merger or acquisition
candidate has been determined.  At such a time, they expect
to spend the necessary time and effort to investigate and
finalize any merger or acquisition.

The Company intends to structure a merger or acquisition in
such manner as to minimize federal and state tax
consequences to the Company and the target company.

Plan of Operation

The Company has not engaged in any material operations or
had any revenues from operations during the past two fiscal
years.  The Company incurred management and operating
expenses totaling $10,000 and $0 during 2003 and 2002,
respectively.

We do not expect to purchase any significant equipment for
the foreseeable future.

We do not expect any significant changes in the number of
employees in the next twelve months.

We do not currently provide any services and have not
generated any revenues, and we do not expect to generate
revenues for the foreseeable future, nor do we anticipate
incurring any significant expenses. Therefore, we will
continue to operate on a minimal operating budget. We
intend to limit our operations to seeking merger and
acquisition candidates.

Item 7.  Financial Statements.

See financial statements.

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

On September 8, 2005, the Company filed a Form 8-K
indicating the replacement of its previous auditor, Mr.
David Winings, CPA, Palm Desert, CA, with Child, Sullivan &
Co., Certified Public Accountants, Kaysville, UT.  This
change was made in order to comply with SEC Regulations,
which require that all public companies have a PCAOB
registered accountant audit and certify year-end financial
statements.  Mr. Winings was not registered with the PCAOB.
There were no disagreements between the Company and Mr.
Winings.

Item 8a.  Controls and Procedures

The Chief Executive Officer and the Chief Financial Officer
of the Company have made an evaluation of the disclosure
controls and procedures relating to the annual report on
Form 10-KSB for the year ended December 31, 2003 as filed
with the Securities and Exchange Commission and have judged
such controls and procedures to be effective as of December
31, 2003, the evaluation date.

There have not been any significant changes in the internal
controls of the Company or other factors that could
significantly affect internal controls relating to the
Company since the evaluation date.


Item 8b.  Other Information

None

PART III
Item 9.  Directors, Executive Officers, Promoters and
Control Persons; Compliance with Section 16(A) of the
Exchange Act

The following table sets forth the names of all current
directors and executive officers of the Company. These are
the only persons whose activities are expected to be
material to the Company. They will serve until the next
annual meeting of the stockholders (held in November of
each year) or until their successors are elected or
appointed and qualified, or their prior resignation or
termination:
                                 Date of          Date of
                                Election or  Termination or
Name             Positions Held  Designation    Resignation

Dempsey K. Mork President/CEO/Director 8/10/1998     N/A

Norbert L. LeBoeuf CFO/Director   12/15/2001         N/A


Business Experience of Directors/Executive Officers:

Mr. Mork has been the majority shareholder, President,
Chief Executive Officer/Director of Asian Financial, Inc.
since 1998.  For the past eight years, he has been an
officer/director of Magellan Capital Corporation; Animal
Cloning Sciences, Silver Bow Antique Aviation, Apex Capital
Group, Inc., Knickerbocker Capital Corporation and North
Star Ventures.  Mr. Mork has experience in start-up
companies, business reorganizations and cross border
business transactions.  He will spend approximately 20
hours per month on Asian Financial, Inc. business.

Mr. Norbert LeBoeuf is a shareholder, officer/director of
Asian Financial, Inc.  He has been responsible for all
accounting and tax functions for all companies with which
Mr. Mork has been affiliated. Mr. LeBoeuf's professional
career includes three years in the U.S. Marine Corps
Legal/Administrative functions (1952-55) and forty years in
all areas of accounting for small, medium and large
(Fortune 500 Companies) in Electronics, Manufacturing and
Aerospace.  He is also an officer/director of Knickerbocker
Capital Corporation, Silver Bow Antique Aviation, Northstar
Ventures, Animal Cloning Sciences, and Apex Capital Group,
Inc., and will spend approximately 20 hours per month on
Asian Financial, Inc. business.

Significant Employees.
The Company has no employees who are not executive
officers.

Code of Ethics

The Company has adopted a code of ethics that applies to
the chief executive officer and chief financial officer and
is included in this Form 10-KSB as Exhibit 14.1.

Item 10.  Executive Compensation

On August 20, 1998, 473,250 shares of "unregistered" and
"restricted" shares of the Company's common stock, were
issued for services rendered, as follows:

             # SHARES        ISSUED TO
                ---------   -------------------------

                225,000   Magellan Capital Corp.
                 76,500    Magellan Litigation Corp.
                 75,000    Dempsey K. Mork
                 30,750    Randall A. Baker
                 37,500    Robert J. Filiatreaux
                 28,500    Norbert L. Le Boeuf
                ---------
                473,250     TOTAL SHARES ISSUED
                ======

There are no standard arrangements pursuant to which the
Company's directors are compensated for any services
provided as director.  No additional amounts are payable to
the Company's directors for committee participation or
special assignments.

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

The following table sets forth the shareholdings of those
persons or entities who own more than 5% of the 1,500,000
Company's common stock outstanding as of the date of these
filings, and/or belong to management hereof, to wit:

                     Number of Shares            Percentage
Name and Address     Beneficially Owned            of Class

LISTING 473,250 SHS ISSUED 8/20/98:

Dempsey K.  Mork             75,000*              5.00%*
851625 Desert Club Dr. Suite 207
La Quinta, CA 92253 (1)

Norbert L. LeBoeuf          28,500                1.90%
851625 Desert Club Dr. Suite 207
La Quinta, CA 92253 (1)                       ---------
------
Sub-total Officers/Directors 103,500              6.90%
(1)Addresses are in c/o the Company

Other Shareholders/Former Associates:

Randall A. Baker               30,750               2.05%
P.O. Box 1025
Morongo Valle, CA 92256

Robert Filiatreaux             37,500               2.50%
77545 Chillon
La Quinta, CA 92253

Magellan Capital Corp.        225,000              15.00%
851625 Desert Club Dr. Suite 207
La Quinta, CA 92253
Magellan Litigation Services   76,500               5.10
851625 Desert Club Dr. Suite 207
La Quinta, CA 92253
                             ---------             ------

Total shares issued 8/20/98  473,250              31.55%
    for services rendered    --------             ------

LISTING OF 1,026,750 SHS SOLD 12/20/98:

Magellan Capital Corp.
Dempsey K. Mork
Pension Plan and Trust       450,000*             30.00%*
851625 Desert Club Dr. Suite 207
La Quinta, CA 92253

Magellan Capital Corp.
Dempsey K. Mork
Profit Sharing Plan and Trust 450,000*            30.00%*
851625 Desert Club Dr. Suite 207
La Quinta, CA 92253

Shares sold to other individuals 126,750            8.45%
                               ---------             ------
Total shares sold 12/20/98   1,026,750             68.45%
                               ---------             ------
 TOTAL SHS ISSUED FROM INCEPTION
   (8/10/98) THROUGH 12/31/03
                             1,500,000             100.00%
                               =========            ======

*Beneficial ownership/Dempsey K. Mork
                             975,000*             65.00%
                              =======             =====

The following table sets forth the shareholdings of the
Company's directors and executive officers as of the date
hereof, to wit:


                              Number of Shares     Percent
                          Beneficially Owned 1,500,000 SHS.
Name and Address              as of 08/31/05   Outstanding
--------------------           ------------------      ----
---------
Dempsey K. Mork                     975,000*         65.00%
851625 Desert Club Dr. Suite 207
La Quinta, CA 92253

Norbert L. Le Boeuf                  28,500           1.90%
851625 Desert Club Dr. Suite 207
La Quinta, CA 92253
                                  ---------           -----
     Totals:                      1,003,500          66.90%
                                  =========          =====

 Item 12.  Certain Relationships and Related Transactions

The Company has accrued $10,000 per year for management
services rendered by the Company's majority
shareholder/President pursuant to a five-year convertible
promissory note covering years 1998 through 2002 for a
total balance of $50,000 at December 31, 2003.  This note
is non-interest bearing and convertible at a rate of $0.05
per share for 1,000,000 common shares at the option of the
holder. If not sooner converted into common stock, the
principal amount is due December 31, 2008.

The Company accrued $10,000 during 2003 for management
services rendered by an affiliate of the Company's majority
shareholder/President pursuant to the terms of a
convertible promissory note.  This note is non-interest
bearing and convertible at a rate of $0.02 per share for
500,000 common shares at the option of the holder. If not
sooner converted into common stock, the principal amount is
due December 31, 2008.

The Company's officers and directors have resolved to
provide for various minimal expenses incurred by the
Company without repayment until such time that a merger
candidate is found.  These expenses consist of, but are not
limited to, office space, accounting, filing requirements,
and management services.

Item 13.  Exhibits and Reports on Form 8-K

(a)     The Exhibits listed below are filed as part of this
Annual Report.

Exhibit No.
--------------

3.1     Articles of Incorporation (Incorporated by
reference from Registration Statement on Form 10-SB
filed with the Securities and Exchange Commission on
August 24, 1999).

3.2     Bylaws (Incorporated by reference from Registration
Statement on Form 10-SB filed with the Securities and
Exchange Commission
on August 24, 1999).

14.1     Code of Ethics

31.1     Certification Under Section 302 of the Sarbanes-
Oxley Act of 2002

31.2     Certification Under Section 302 of the Sarbanes-
Oxley Act of 2002

32.1     Certification Under Section 906 of the Sarbanes-
Oxley Act of 2002

32.2      Certification Under Section 906 of the Sarbanes-
Oxley Act of 2002

(b)     The Corporation did not file any reports on Form 8-
K during the quarter ended December 31, 2003.

ITEM 14. Principal Accountant Fees and Services

Audit Fees

The aggregate fees incurred during the years ended December
31, 2003 and 2002 for professional services rendered by our
principal accountant, Child, Sullivan & Company, for the
audits of our annual financial statements and review of our
quarterly financial statements is $0.  During 2005, the
Company incurred fees for the annual audits and quarterly
reviews for the years ended December 31, 2003 and 2002 that
approximate $2,200 and $0, respectively.

The aggregate fees incurred for the years ended December
31, 2003 and 2002 for professional services rendered by our
former principal accountant, David Winings, CPA, for the
audits of our annual financial statements and review of our
quarterly financial statements was $500 and $0, for 2003
and 2002, respectively.

Audit-Related Fees

The Company did not incur any fees for the years ended
December 31, 2003 or 2002 for professional services that
are reasonably related to the audit or review of our
financial statements that are not covered in the "Audit
Fees" disclosure above.

Tax Fees

The Company did not incur any fees for the years ended
December 31, 2003 and 2002 for professional services
rendered for tax compliance, tax advice, and tax planning.

All Other Fees

There were no fees billed for the years ended December 31,
2003 or 2002 for professional services rendered by our
auditors for all other services not disclosed above.



SIGNATURES

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

Dated:  September 9, 2005

Asian Financial, Inc.

By:  /s/  Dempsey Mork
-------------------------------------
Dempsey Mork
President and CEO


By:  /s/  Norbert L. LeBoeuf
-------------------------------------
Norbert L. LeBoeuf
CFO



ASIAN FINANCIAL, INC.
(A Development Stage Company)

Financial Statements

December 31, 2003 and 2002




Report of Independent Registered Public Accounting
Firm..................................................................1

Financial Statements:

Balance Sheet as of December 31, 2003................................ 2

Statements of Operations for the
years ended December 31, 2003 and
2002, and cumulative from
inception (August 10, 1998) to December 31,
2003..................................................................3

Statements of Changes in
Stockholders' Deficit
cumulative from inception (August
10, 1998) to
December 31, 2003.....................................................4

Statements of Cash Flows for the
years ended December 31, 2003 and
2002, and cumulative from
inception (August 10, 1998) to December 31,2003.......................5

Notes to the Financial Statements.................................. 6-8








Report of Independent Registered Public Accounting Firm


To the Board of Directors
Asian Financial, Inc.

We have audited the balance sheet of Asian Financial, Inc.
(a development stage company) (the Company) as of December
31, 2003, and the related statements of operations, changes
in stockholders' deficit and cash flows for the year then
ended.  The financial statements for the period of August
10, 1998 (inception) through December 31, 2002 were audited
by another auditor, who expressed an unqualified opinion in
his audit report dated March 26, 2004.  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 audit.

We conducted our audit in accordance with the standards of
the Public Company Accounting Oversight Board (United
States).  Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement.  An
audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial
statements.  An audit also includes assessing the
accounting principles used and significant estimates made
by management, as well as evaluating the overall financial
statement presentation.  We believe that our audit provides
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 the Company as of December 31, 2003, and the
results of its operations and its cash flows for the year
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.
As discussed in Note 5 to the financial statements, the
Company has suffered net losses since inception and is
still considered a development stage company, as it has not
yet obtained revenues from its planned principle
operations.  These factors raise substantial doubt about
the Company's ability to meet its obligations and to
continue as a going concern. Management's plans in regard
to these matters are also described in Note 5.  The
financial statements do not include any adjustments that
might result from the outcome of this uncertainty.


/s/ Childs, Sullivan & Company


Child, Sullivan & Company
Kaysville, Utah
August 31, 2005

                           ASIAN FINANCIAL, INC.
                       (A Development Stage Company)
                             BALANCE SHEET
                           December 31, 2003
<table>

                                                         <c>
ASSETS

Total assets                                              $     -


LIABILITIES AND STOCKHOLDERS' DEFICIT

LIABILITIES

Current liabilities                                       $     -

Long-term liabilities:
Notes payable - related parties (note 4)
60,000

Total liabilities                                          60,000

STOCKHOLDERS' DEFICIT (note 3)

Preferred stock; $0.001 par value; 1,000,000 shares
   authorized; no shares issued and outstanding                -

Common stock; $0.001 par value; 100,000,000 shares
   authorized; 1,500,000 shares issued and outstanding
1,500

Additional paid-in capital                                     -
Deficit accumulated during development stage             (61,500)

Total stockholders' deficit                              (60,000)

Total liabilities and stockholders' deficit              $     -

</table>






See accompanying notes to the financial statements.

                                      ASIAN FINANCIAL, INC.
                                 (A Development Stage Company)
                                    STATEMENTS OF OPERATIONS
<table>

                                                       <c>          <c>                   <c>

                                                                                           Cumulative from
                                                          For the Year Ended                  Inception
                                                             December 31,            (August 10, 1998) to
                                                         2003          2002             December 31, 2003

Revenues                                          $       -      $       -            $        -

Operating expenses                                      10,000        10,897                 61,500

Net loss from operations                               (10,000)      (10,897)               (61,500)

Other income (expense)                                    -               -                    -

Net loss                                          $    (10,000)  $   (10,897)         $     (61,500)

Net income (loss) per share                       $      (0.01)  $     (0.01)

Weighted average number
   common shares outstanding                         1,500,000      1,500,000

</table>








See accompanying notes to the financial statements.

                                    ASIAN FINANCIAL, INC.
                                (A Development Stage Company)
                         STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT
<table>

                                  <c>     <c>        <c>         <c>            <c>
                                                                  Deficit
                                                                Accumulated
                                                    Additional    During
                                           Common    Paid-In    Development
                                   Shares   Stock     Capital      Stage          Total

Balance, August 10, 1998
   (date of inception)               -    $    -     $     -      $      -    $      -

Shares issued for services        473,250    473           -             -          473
Shares issued for cash          1,026,750  1,027           -             -        1,027
Net loss                             -         -           -       (10,473)     (10,473)

Balance, December 31, 1998      1,500,000  1,500           -       (10,473)      (8,973)

Net loss                             -         -           -       (10,000)     (10,000)

Balance, December 31, 1999      1,500,000  1,500           -       (20,473)     (18,973)

Net loss                             -         -           -       (10,130)     (10,130)

Balance, December 31, 2000      1,500,000  1,500           -       (30,603)     (29,103)

Net loss                                                           (10,000)     (10,000)

Balance, December 31, 2001      1,500,000  1,500           -       (40,603)     (39,103)

Net loss                             -         -           -       (10,897)     (10,897)

Balance, December 31, 2002      1,500,000  1,500           -       (51,500)     (50,000)

Net loss                             -         -           -       (10,000)     (10,000)

Balance, December 31, 2003      1,500,000 $1,500  $        -   $   (61,500) $   (60,000)


</table>
                                              ASIAN FINANCIAL, INC.
                                          (A Development Stage Company)
                                               STATEMENTS OF CASH FLOWS
<table>

                                                          <c>            <c>            <c>
                                                                                       Cumulative
                                                              For the Year Ended     from Inception
                                                                 December 31,     (August 10, 1998)
                                                             2003          2002    to December 31,
                                                                                        2003

Operating Activities
   Net income (loss)                                     $ (10,000)    $ (10,897)  $  (61,500)

Adjustments to reconcile net loss to
       net cash used in operations:
   Issuance of shares for services rendered                   -             -             473
   Issuance of notes payable to related parties
      for services rendered                               10,000          10,000       60,000

Changes in operating assets and liabilities                   -             -              -
Cash used in operating activities                             -             (897)      (1,027)

Investing Activities                                          -             -              -

Financing Activities
   Issuance of shares for cash                                -             -           1,027
Cash provided by financing activities                         -             -           1,027

Net change in cash                                            -             (897)         -
Cash at beginning of the period                               -              897          -

Cash at end of the period                              $      -        $    -       $     -

Supplemental information
Non-cash investing and financing activities:
Issuance of notes payable to related parties
    for services rendered                              $ 10,000        $  10,000    $  60,000
</table>
See accompanying notes to the financial statements.


ASIAN FINANCIAL, INC.
(A Development Stage Company)
NOTES TO THE FINANCIAL STATEMENTS
Years Ended December 31, 2003 and 2002, and for the
Period of August 10, 1998 (Inception) through December 31,
2003


NOTE 1 - ORGANIZATION AND BUSINESS PLAN

Asian Financial, Inc. (the Company) was incorporated under
the laws of the State of Nevada on August 10, 1998 to
engage in any lawful activity.

The Articles of Incorporation authorized the Company to
issue 100,000,000 shares of common stock and 1,000,000
shares of preferred stock, both with a par value $0.001.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Development Stage Company
The Company is considered a 'Development Stage Company' as
defined in SFAS 7, "Accounting and Reporting by Development
Stage Companies."  Therefore, cumulative amounts are
reported on the statements of operations, stockholders'
deficit, and cash flows.

Cash and Equivalents
The Company considers all highly liquid debt instruments
purchased with a maturity of three months or less to be
cash equivalents. No cash was paid for interest for the
years ended December 31, 2003 and 2002. During the years
ended December 31, 2003 and 2002, the Company paid $0 in
interest and income taxes.

Loss Per Common Share
Loss per common share is computed by dividing the net loss
for the period by the weighted average number of shares
outstanding for the years ended December 31, 2003 and 2002.

Use of Estimates
The preparation of the accompanying 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 reported
amounts of assets and liabilities, and disclosure of
contingent assets and liabilities at the date of the
financial statements, and the reported amounts of expenses
during the reporting periods. Actual results could differ
from those estimates.





ASIAN FINANCIAL, INC.
(A Development Stage Company)
NOTES TO THE FINANCIAL STATEMENTS
Years Ended December 31, 2003 and 2002, and for the
Period of August 10, 1998 (Inception) through December 31,
2003


NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(continued)

Income Taxes
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 expected to apply to taxable income in the years in
which those temporary differences are expected to reverse.
The effect on deferred tax assets and liabilities from a
change in tax rates is recognized in the statement of
operations in the period that includes the enactment date.
The Company has not yet commenced an active trade or
business, therefore, the Company did not provide any
current or deferred federal or state income tax provision
or benefit for any of the periods presented because to
date, it has experienced operating losses. The Company has
a federal net operating loss carryforward of $61,500
expiring in the years 2018 through 2023. The tax benefit of
this net operating loss, based on an effective tax rate of
40%, is approximately $24,600 and has been offset by a full
valuation allowance, which increased by $4,000 and $4,359
during the years ended December 31, 2003 and 2002,
respectively.

NOTE 3 - STOCKHOLDERS' DEFICIT

On August 20, 1998, the Company issued 473,250 shares of
common stock at par value $0.001, to individuals (including
Officers/Directors) for consulting services provided to the
Company for a total value of $473.

On December 20, 1998, the Company issued 1,026,750 shares
of common stock at par value $0.001 for $1,027 in cash.

Total shares of common stock issued and outstanding were
1,500,000 at December 31, 2003 and 2002.

No preferred stock has been issued and none are outstanding
as of December 31, 2003 or 2002.






ASIAN FINANCIAL, INC.
(A Development Stage Company)
NOTES TO THE FINANCIAL STATEMENTS
Years Ended December 31, 2003 and 2002, and for the
Period of August 10, 1998 (Inception) through December 31,
2003


NOTE 4 - RELATED PARTY TRANSACTIONS

The Company has accrued $10,000 per year for management
services rendered by the Company's majority
shareholder/President pursuant to a five-year convertible
promissory note covering years 1998 through 2002 for a
total balance of $50,000 at December 31, 2003.  This note
is non-interest bearing and convertible at a rate of $0.05
per share for 1,000,000 common shares at the option of the
holder. If not sooner converted into common stock, the
principal amount is due December 31, 2008.

The Company accrued $10,000 during 2003 for management
services rendered by an affiliate of the Company's majority
shareholder/President pursuant to the terms of a
convertible promissory note.  This note is non-interest
bearing and convertible at a rate of $0.02 per share for
500,000 common shares at the option of the holder. If not
sooner converted into common stock, the principal amount is
due December 31, 2008.

The Company's officers and directors have resolved to
provide for various minimal expenses incurred by the
Company without repayment until such time that a merger
candidate is found.  These expenses consist of, but are not
limited to, office space, accounting, filing requirements,
and management services.

NOTE 5 - GOING CONCERN AND INCIDENTAL COSTS

The accompanying financial statements have been prepared in
conformity with accounting principles generally accepted in
the United States of America, which contemplate
continuation of the Company as a going concern.  However,
the Company has incurred losses since its inception and has
not yet been successful in establishing profitable
operations. These factors raise substantial doubt about the
ability of the Company to continue as a going concern.
Unanticipated costs and expenses or the inability to
generate revenues could require additional financing, which
would be sought through bank borrowings, or equity or debt
financing.  To the extent financing is not available, the
Company may not be able to, or may be delayed in,
developing its business purpose.  The accompanying
financial statements do not reflect any adjustments that
might result from the outcome of these uncertainties.

Incidental costs to maintain legal registrations of the
Company in its state of incorporation and with the
Securities and Exchange Commission have been paid or
assumed by the current shareholders of the Company.  This
will continue for the foreseeable future.

ASIAN FINANCIAL, INC.
(A Development Stage Company)
NOTES TO THE FINANCIAL STATEMENTS
Years Ended December 31, 2003 and 2002, and for the
Period of August 10, 1998 (Inception) through December 31,
2003


NOTE 5 - GOING CONCERN AND INCIDENTAL COSTS (Continued)

The Company intends to actively pursue a business
relationship with a qualified merger or acquisition
candidate.  Costs incurred on these efforts will continue
to be borne/paid by the Officers/Directors of the Company
in the form of loans/advances or the issuance of stock.

NOTE 6 - SUBSEQUENT EVENTS

On July 27, 2005, the Company merged with Asian Financial,
Inc. (a Wyoming entity) for the purpose of changing its
domicile from Nevada to Wyoming.




EXHIBIT 14.1

CODE OF ETHICS FOR SENIOR FINANCIAL OFFICERS

This code of ethics for Senior Financial Officers has been
adopted by the Board of Directors of Asian Financial Corp
("the Company") to promote honest and ethical conduct,
proper disclosure of financial information in the Company's
reports, and compliance with applicable laws, rules and
regulations by the Company's senior officers who have
financial responsibilities.

Applicability
As used in this code, the term Senior Financial Officer
means the Corporation's Chief Executive Officer, Chief
Financial Officer and Controller.

Principles and Practices
In performing his or her duties, each of the Senior
Financial Officers must:

Maintain high standards of honest and ethical conduct and
avoid any actual or apparent conflict of interest.

Report to the Audit Committee of the Board of Directors (or
persons performing the equivalent functions) any conflict
of interest that may arise and any material transaction or
relationship that reasonably could be expected to give rise
to a conflict.

Provide, or cause to be provided, full, fair, accurate,
timely and understandable disclosure in reports and
documents that the Company files with the SEC and other
regulatory organizations, State and Federal, and in other
public communications.

Comply and take all reasonable actions to cause others to
comply with applicable government laws, rules, and

Promptly report violations to the appropriate committee of
the Board of Directors.

Senior Financial Officers must also comply with the Code of
Ethics and Standards of Conduct applicable to the Company's
Directors, officers, and employees generally.

Waiver
Any request for a waiver of any provision of this code must
be in writing and addressed to the Audit Committee. Waivers
of the Senior Financial Officers code of conduct in
registered public companies must be reported on Form 8-K to
the Securities and ExchangeCommission.

Compliance and Accountability
The Audit Committee will assess compliance with this code,
report material violations to the Board of Directors and
recommend to the Board appropriate action.

Approved:


/s/  Dempsey Mork            Date:  September 9, 2005
-----------------------            ---------------------
Dempsey Mork
President
Chief Executive Officer
Director


/s/  Norbert LeBoeuf          Date: September 9, 2005
------------------------          --------------------
Chief Financial Officer
Director


CERTIFICATIONS
Exhibit 31.1

I, Dempsey K. Mork, certify that:

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

2.     Based on my knowledge, the annual report does not
contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements
made, in light of the circumstances under which such
statement 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-15e and 15d-15e) for the registrant and we have:

(a)     designed such disclosure controls and procedures,
or caused such disclosure controls and procedures to be
designed under our supervision, 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 quarterly 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;

(d)	disclosed in this report any change in the
registrant's internal control over financial reporting that
occurred during the registrant's most recent fiscal quarter
(the registrant's fourth fiscal quarter in the case of an
annual report) that has materially affected, or is
reasonably likely to materially affect, the registrant's
internal control over financial reporting; and

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 the
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 respect to
significant deficiencies and material weaknesses.

Date:  September 9, 2005

/s/ Dempsey K. Mork
   ------------------------
Dempsey K. Mork
President/Chief Executive Officer


Exhibit 31.2

I, Norbert L. LeBoeuf, certify that:

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

2.     Based on my knowledge, the annual report does not
contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements
made, in light of the circumstances under which such
statement 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-15e and 15d-15e) for the registrant and we have:

(a)     designed such disclosure controls and procedures,
or caused such disclosure controls and procedures to be
designed under our supervision, 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 quarterly 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;

(d)	disclosed in this report any change in the
registrant's internal control over financial reporting that
occurred during the registrant's most recent fiscal quarter
(the registrant's fourth fiscal quarter in the case of an
annual report) that has materially affected, or is
reasonably likely to materially affect, the registrant's
internal control over financial reporting; and

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 the
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 respect to
significant deficiencies and material weaknesses.

Date: September 9, 2005

/s/Norbert L. LeBoeuf
----------------------------------------
Norbert L. LeBoeuf, Chief Financial Officer



Exhibit 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER
PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


I, Dempsey K. Mork, certify, pursuant to 18 U.S.C. Section
1350, as adopted pursuant to Section 906 of the Sarbanes-
Oxley Act of 2002, that the Annual Report of Asian
Financial, Inc. on Form 10-KSB for the year ended December
31, 2003 fully complies with the requirements of Section
13(a) or 15(d) of the Securities Exchange Act of 1934 and
that information contained in such Form 10-KSB fairly
presents in all material respects the financial condition
and results of operations of Asian Financial, Inc.

Date: September 9, 2005

/s/ Dempsey K. Mork
   ------------------------------
Dempsey K.  Mork
President/Chief Executive Officer



Exhibit 32.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER
PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


I, Norbert L. LeBoeuf, certify, pursuant to 18 U.S.C.
Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002, that the Annual Report of Asian
Financial, Inc. on Form 10-KSB for the year ended December
31, 2003 fully complies with the requirements of Section
13(a) or 15(d) of the Securities Exchange Act of 1934 and
that information contained in such Form 10-KSB fairly
presents in all material respects the financial condition
and results of operations of Asian Financial, Inc.

Date: September 9, 2005

/s/ Norbert L. LeBoeuf
   ------------------------------
Norbert L. LeBoeuf
Chief Financial Officer