UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 30549




                                   FORM 10-QSB




(MarkOne)

[X]  QUARTERLY  REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE ACT
     OF 1934
                                    For the quarterly period ended June 30, 2003

[  ] TRANSACTION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
                        For the transition period from            to
                                                       ----------    -----------

                                                 Commission file number: 0-27489
                                                                         -------

                                 DuraVest, Inc.
        -----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

            Florida                                              59-2624574
-------------------------------                              -------------------
(State or Other Jurisdiction of                              (IRS Employer
Incorporation or Organization)                               Identification No.)

      37 Prince Arthur Avenue, Suite 300, Toronto, Ontario, Canada M5R 1B2
      --------------------------------------------------------------------
                    (Address of principal executive offices)


                                 (416) 961-1409
                           ---------------------------
                           (Issuer's telephone number)



        ---------------------------------------------------------------
               (Former name, former address and former fiscal year
                         (if changed since last report)




                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the  registrant  filed all  documents  and reports  required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the  distribution  of
securities under a plan confirmed by a Court. Yes [ ] No [ ]


                      APPLICABLE ONLY TO CORPORATE ISSUERS

The number of shares outstanding of each of the issuer's classes of common
equity, as of July 25, 2003 was 36,766,640 shares of common stock.

Transitional Small Business Disclosure Format (Check one):  Yes {X}  No {  }


<PAGE>


                                      INDEX

                                                                     Page Number
                                                                     -----------

Part I.  Financial Information


     Item 1.  Financial Statements

              Condensed Balance Sheet as of June 30, 2003                    3

              Condensed Statement of Operations for the Three
              Months Ended June 30, 2003 and 2002, for the
              Six Months Ended June 30, 2003 and 2002 and
              From Inception to June 30, 2003                                4

              Condensed Statement of Cash Flows for the
              Six Months Ended June 30, 2003 and June 30, 2002
              and From Inception to June 30, 2003                            5

              Summary of Significant Accounting Policies                     6

              Notes to Condensed Financial Statements                        9

     Item 2.  Plan of Operation                                             13

Part II. Other Information

     Item 1.  Legal Proceedings                                             16

     Item 2.  Changes in Securities                                         16

     Item 3.  Defaults in Senior Securities                                 16

     Item 4.  Submission of Matters to a Vote of Securities Holders         16

     Item 5.  Other Information                                             16

     Item 6.  Exhibits and Reports on Form 8-K                              16

Signatures                                                                  17




                                       2
<PAGE>

                         PART I - FINANCIAL INFORMATION



ITEM 1.  FINANCIAL STATEMENTS
-----------------------------

                                 DuraVest, Inc.

                             Condensed Balance Sheet

June 30,                                                                2003
--------                                                            ------------

Assets
   Cash                                                             $     1,120
                                                                    -----------

                                                                    $     1,120
                                                                    ===========

Liabilities and Stockholders' Deficit

Liabilities:
   Accrued interest                                                 $     1,380
   Note payable - related company                                        25,000
                                                                    -----------
Total liabilities                                                        26,380

Commitments and Contingencies

Stockholders' Deficit

Preferred stock, $0.001 par value, 20,000,000 shares authorized,
  0 shares issued and outstanding
Common stock, $0.001 par value;  80,000,000 shares authorized;
  36,766,640 shares issued and outstanding                                3,680
Additional paid-in capital                                              448,820
Deficit accumulated during the development stage                       (477,760)
                                                                    -----------

Total stockholders' deficit                                             (25,260)
                                                                    -----------

                                                                    $     1,120
                                                                    ===========




                                       3
<PAGE>
<TABLE>
<CAPTION>

                                                            DuraVest, Inc.

                                                  Condensed Statements of Operations


                                                         For the three   For the three   For the six    For the six       From
                                                         months ended    months ended    months ended   months ended   inception to
                                                         June 30, 2003   June 30, 2002   June 30, 2003  June 30, 2002  June 30, 2003
                                                         -------------   -------------   -------------  -------------  -------------
<S>                                                       <C>              <C>             <C>            <C>            <C>
Development stage expenses:
     Selling, general and administrative,
       excluding non-cash
       compensation (benefit) expense                     $   20,380       $   13,285      $   31,764     $   21,865     $  495,467
                                                          ----------       ----------      ----------     ----------     ----------

Total development stage expenses                              20,380           13,285          31,764         21,865        495,467
                                                          ----------       ----------      ----------     ----------     ----------

Loss from operations                                         (20,380)         (13,285)        (31,764)       (21,865)      (495,467)

Other Income and (Expenses)
     Repayment of bad debts                                                                    20,000                        20,000
     Interest expense                                           (625)                          (1,250)                       (1,380)
     Translation gain (loss)                                      74               52              89              4           (913)
                                                          ----------       ----------      ----------     ----------     -----------

Net loss                                                     (20,931)         (13,233)        (12,925)       (21,861)      (477,760)
                                                          ----------       ----------      ----------     ----------     -----------

Net loss applicable to common stock                       $  (20,931)      $  (13,233)     $  (12,925)    $  (21,861)    $ (477,760)
                                                          ==========       ==========      ==========     ==========     ==========

Net loss per common share (basic and diluted)             $    (0.01)      $    (0.01)     $    (0.01)    $    (0.01)
                                                          ==========       ==========      ===========    ==========

Weighted average number of common shares outstanding      36,766,640       36,766,640      36,766,640     36,766,640
                                                          ==========       ==========      ==========     ==========
</TABLE>



                                                                    4
<PAGE>
<TABLE>
<CAPTION>

                                                  DuraVest, Inc.

                                        Condensed Statements of Cash Flows


                                                                   For the six        For the six           From
                                                                  months ended       months ended       inception to
                                                                  June 30, 2003      June 30, 2002      June 30, 2003
                                                                  -------------      -------------      -------------
<S>                                                                 <C>                <C>                <C>
Operating activities:
   Net loss                                                         $ (12,925)         $ (21,860)         $(477,760)

   Adjustments to reconcile net loss to net
     cash used in operating activities:
   Change in assets and liabilities:
         Accrued interest                                               1,250                                 1,380
         Accounts payable                                              (3,221)            (5,966)                 -
                                                                    ---------          ---------          ---------

Net cash used in operating activities                                 (14,896)           (27,826)          (476,380)
                                                                    ---------          ---------          ---------

Financing activities:
   Proceeds from issuance of debt  to related company                                                        25,000
   Proceeds from issuance of common stock                                   -                  -            452,500
                                                                    ---------          ---------          ---------

Net cash provided by financing activities                                   -                  -            477,500
                                                                    ---------          ---------          ---------

Net increase (decrease) in cash and cash equivalents                  (14,896)           (27,826)             1,120

Cash and equivalents, beginning of year                                16,016             40,545                  -
                                                                    ---------          ---------          ---------

Cash and equivalents, June 30, 2003                                 $   1,120          $  12,719          $   1,120
                                                                    =========          =========          =========

</TABLE>



                                                             5
<PAGE>


                                 DuraVest, Inc.

                   Summary of Significant Accounting Policies


Basis of Presentation
---------------------

The accompanying unaudited condensed financial statements have been prepared in
accordance with generally accepted accounting principles for interim financial
information and with Article 310 of Regulation S-B. Accordingly, they do not
include all of the information and footnotes required by generally accepted
accounting principles for complete financial statements. All adjustments which,
in the opinion of management, are considered necessary for a fair presentation
of the results of operations for the periods shown are of a normal recurring
nature and have been reflected in the unaudited condensed financial statements.
The results of operations for the periods presented are not necessarily
indicative of the results expected for the full fiscal year or for any future
period. The information included in these unaudited condensed financial
statements should be read in conjunction with Plan of Operation and Results of
Operations contained in this report and the financial statements and
accompanying notes included in the Duravest, Inc. (the "Company") Annual Report
on Form 10-K for the fiscal year ended December 31, 2002.


Nature of Operations
--------------------

Duravest, Inc. (the "Company") was incorporated on August 5, 1980 under the laws
of the State of Florida as Ronnie Interior Designs, Inc. for the purpose of
merging with or acquiring another company.

On October 14, 1997, Ronnie Interior Designs, Inc. changed its name to Ronnie
Systems, Inc.

On March 13, 1998, the Company amended and restated its articles of
incorporation and changed its name to Great Wall Food and Beverage Corporation.

On November 9, 2001, the Company amended and restated its articles of
incorporation and changed its name to Duravest, Inc.

The Company has been operating as a development stage enterprise since its
inception and is devoting substantially all its efforts to the ongoing
development of the Company (see Note 1).


Cash and Cash Equivalents
-------------------------

The Company considers all highly liquid investments with a maturity of three
months or less when purchased to be cash equivalents.



                                       6
<PAGE>

                                 DuraVest, Inc.

                   Summary of Significant Accounting Policies


Fair Value of Financial Instruments
-----------------------------------

The carrying amounts of the Company's financial assets, including cash and cash
equivalents approximate fair value because of their short maturities.


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 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 revenues and expenses
during the reporting period. Actual results could differ from those estimates.


Advertising
-----------

The Company conducts nondirect response advertising for the promotion of its
products. These costs are expensed as incurred. Advertising costs for the
periods ended June 30, 2003 and 2002 were $2,932 and $0 respectively.


Income Taxes
------------

The Company accounts for income taxes pursuant to the provisions of Statement of
Financial Accounting Standards (SFAS) No. 109, "Accounting for Income Taxes,"
which requires, among other things, a liability approach to calculating deferred
income taxes. The asset and liability approach requires the recognition of
deferred tax liabilities and assets for the expected future tax consequences of
temporary differences between the carrying amounts and the tax bases of assets
and liabilities.


Foreign Currency Translation
----------------------------

During 1999 the Company opened a bank account denominated in a foreign currency
which is used to pay for some operational expenses. The bank account is
translated using rates of exchange at June 30, 2003 and 2002; expenses are
translated at weighted average exchange rates in effect during the year. The
cumulative effect resulting from such translation is recorded as remeasurement
gain or loss in the financial statements.


Loss per Share
--------------

Basic loss per share is computed on the basis of the weighted average number of
common shares outstanding during each year. Diluted loss per share is computed
on the basis of the weighted average number of common shares and dilutive
securities outstanding. Dilutive securities having an antidilutive effect on
diluted loss per share are excluded from the calculation.



                                       7
<PAGE>

                                 DuraVest, Inc.

                   Summary of Significant Accounting Policies


New Accounting Pronouncements
-----------------------------

In June 2001, the FASB issued SFAS No. 143, "Accounting for Asset Retirement
Obligations." SFAS No. 143, which addresses accounting and reporting for
obligations associated with the retirement of tangible long-lived assets and the
associated asset retirement costs is effective for fiscal years beginning after
June 15, 2002. We do not expect the adoption of this new standard to have a
material impact on our results of operations or financial position.

In July 2001, the FASB issued SFAS No. 144, "Impairment or Disposal of
Long-Lived Assets," which is effective for fiscal years beginning after December
31, 2001. The provisions of this statement provide a single accounting model for
impairment of long-lived assets. We do not expect the adoption of this new
standard to have a material impact on our results of operations or financial
position.

In April 2002, the FASB issued SFAS No. 145, "Rescission of FASB Statements No.
4, 44 and 64, Amendment of FASB Statement No. 13, and Technical Corrections,"
which is effective for fiscal years beginning after May 15, 2002. This statement
rescinds the indicated statements and amends other existing authoritative
pronouncements to make various technical corrections, clarify meanings, or
describe their applicability under changed conditions. SFAS No. 145 encourages
early adoption of the provision of this standard that rescinds SFAS No.4,
"Reporting Gains and Losses from Extinguishments of Debt." We do not expect the
adoption of this new standard to have a material impact on our results of
operations or financial position.

In July 2002, the FASB issued SFAS No. 146, "Accounting for Costs Associated
with Exit or Disposal Activities," which is effective for exit or disposal
activities that are initiated after December 31, 2002. This statement nullifies
Emerging Issues Task Force Issue No. 94-3, "Liability Recognition for Certain
Employee Termination Benefits and Other Costs to Exit an Activity (including
Certain Costs Incurred in a Restructuring)." This statement requires that
liabilities associated with exit or disposal activities initiated after adoption
be recognized and measured at fair value when incurred as opposed to at the date
an entity commits to the exit or disposal plans. We do not expect the adoption
of this new standard to have a material impact on our results of operations or
financial position.








                                       8
<PAGE>


                                 DuraVest, Inc.

                          Notes to Financial Statements


1.   Going Concern
     -------------

     The accompanying financial statements were prepared assuming that the
     Company will continue as a going concern. This basis of accounting
     contemplates the realization of assets and the satisfaction of its
     liabilities in the normal course of operations. Since inception the Company
     has incurred losses of approximately $478,000 and has not reached a
     profitable level of operations, all of which raise substantial doubt about
     the Company's ability to continue as a going concern.

     The Company's continued existence is dependent upon its ability to resolve
     its liquidity problems, principally by obtaining additional debt financing
     and equity capital. While pursuing additional debt and equity funding, the
     Company must continue to operate on limited cash flow generated internally.

     The financial statements do not include any adjustments to reflect the
     possible future effects on the recoverability and classification of assets
     or the amounts and classification of liabilities that may result from the
     possible inability of the Company to continue as a going concern.

     Accordingly, there are no assurances that the Company will be successful in
     achieving the above plans, or that such plans, if consummated, will enable
     the Company to obtain profitable operations or continue as a going concern.


2.   Common Stock
     ------------

     The following reconciles the components of the loss per share computation:
<TABLE>
<CAPTION>

      For the six months ended
      June 30,                                  2003                                   2002
                               -------------------------------------   -------------------------------------
                                  Income       Shares      Per-Share     Income        Shares      Per-Share
                               (Numerator)  (Denominator)    Amount    (Numerator)  (Denominator)    Amount
                               -----------  -------------  ---------   -----------  -------------  ---------
     <S>                        <C>           <C>            <C>        <C>           <C>            <C>
     Loss per common share
       Net (loss) available to
       common shareholders      $(12,925)     36,766,640     $(0.01)    $(21,861)     36,766,640     $(0.01)
                                --------      ----------     ------     --------      ----------     ------
       Net (loss) available
       to common shareholders
       plus assumed
       conversions              $(12,925)     36,766,640     $(0.01)    $(21,861)     36,766,640     $(0.01)
                                ========      ==========     ======     ========      ==========     ======
</TABLE>

3.   Income Taxes
     ------------

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



                                       9
<PAGE>


                                 DuraVest, Inc.

                          Notes to Financial Statements


     reporting purposes and the amounts used for income tax purposes. At
     December 31, 2002, the Company had federal net operating losses (NOL) of
     approximately $439,657. The NOL expires in the years 2018 through 2021. In
     the event that a change in ownership of the Company of greater than 50
     percent occurs/occurred as a result of the Company's issuance of common and
     preferred stock, the utilization of the NOL carryforward will be subject to
     limitation under certain provisions of the Internal Revenue Code.

     Realization of any portion of the approximate $170,560 deferred federal
     tax asset at June 30, 2003 is not considered more likely than not by
     management; accordingly, a valuation of allowance has been established for
     the full amount of such asset.

     The reconciliation of income tax benefit computed at the United States
     federal tax rate of 34% to income tax benefit is as follows:

     Six months ended June 30,                  2003          2002
     -------------------------                --------      --------

     Tax benefit at the United States
     statutory rate                           $ 7,117       $ 7,434
     State income tax benefit, net                356           372
     Valuation allowance   adjustment
                                               (7,473)       (7,806)
                                              -------       -------

     Income tax benefit                       $     -       $     -
                                              =======       =======


     Significant components of the Company's deferred tax assets and liabilities
     are as follows:


     June 30,                                     2003          2002
     --------                                  ----------    ----------

     Deferred tax assets:
       Net operating loss
       carryforwards                          $ 170,560      $ 149,798
     Valuation allowance for deferred
       tax assets                              (170,560)      (149,798)
                                              ---------      ---------

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




                                       10
<PAGE>


                                 DuraVest, Inc.

                          Notes to Financial Statements


4.   Related Party Transactions
     --------------------------

     Consulting Services
     -------------------

     The Company neither owns or leases any real property. Fees totaling $3,570
     and $1,000 have been paid to officers and companies owned by shareholders
     during the periods ended June 30, 2003 and 2002 for administrative fees,
     consulting services rendered and, expenses paid on behalf of the Company.
     The officers and directors of the Company are involved in other business
     activities and may, in the future, become involved in other business
     opportunities.


5.   Commitment and Contingencies
     ----------------------------

     The Company conducts its operations from leased facilities, under operating
     leases on a month-to-month basis, which can be terminated by either party
     upon giving notice 30 days in advance.

     Lease rent expense for the periods ended June 30, 2003 and 2002 amounted to
     $882 and $0. At June 30, 2003, future minimum lease payments and rent usage
     tax were $0.


6.   Supplemental Cash Flow Information
     ----------------------------------

     Supplemental disclosure is as follows:

     June 30,                                     2003          2002
     --------                                  ----------    ----------

      Cash paid for interest                    $      -      $      -
      Cash paid for taxes                              -             -


8.   Conditional Acquisition Agreement
     ---------------------------------

     On April 4, 2003 the Company entered into a conditional stock exchange
     agreement with Cardio Management Systems, Inc.("Cardio"), a corporation
     organized under the Canadian Business Corporation Act. Under the agreement,
     if certain conditions are met, the Company will issue 5,000,000 shares of
     its common stock in exchange for 1,000,000 shares of Cardio stock and as a
     result Cardio will become a wholly owned subsidiary. The principal assets
     of Cardio are shares of common stock of Estracure, Inc. ("Estracure"), a
     corporation organized under the Canadian Business Corporation Act and an
     optional right to acquire additional shares of Estracure common stock, at
     no time to exceed 50% ownership of Estracure outstanding common stock. If
     the stock exchange is completed the stock of Estracure owned by Cardio
     could be considered to be "investment securities" as such are defined by




                                       11
<PAGE>

                                 DuraVest, Inc.

                          Notes to Financial Statements


     the Investment Company Act of 1940 ("40 Act"). The condition precedent to
     the completion of the stock exchange shall be the receipt by Duravest, Inc.
     of either (1) a "no-action" letter from the SEC that the completion of the
     stock exchange with the resultant ownership by Duravest, Inc. of Cardio
     with its investment in Estracure (with Estracure not being a "majority
     owned subsidiary" of Cardio under the 40 Act) will not cause a violation of
     the 40 Act; or (2) an opinion of counsel that the completion of the stock
     exchange with the resultant ownership by Duravest, inc. of Cardio with its
     investment in Estracure (with Estracure not being a "majority owned
     subsidiary" of Cardio under the 40 Act) will not cause a violation of the
     40 Act. Duravest, Inc. intends to pursue the satisfaction of either or both
     of these two conditions. However, there is no assurance that it will be
     able to satisfy either of them.

























                                       12
<PAGE>


ITEM 2.  PLAN OF OPERATION
--------------------------

     DuraVest, Inc. (the "Issuer" or "DuraVest") is continuing its efforts to
find a new business opportunity. The Issuer will seek and attempt to enter into
a business combination of acquisition or assets by which it will become engaged
in an active business venture. It is likely that, if such a transaction is made,
it will involve control of the Issuer being acquired by the other party to the
transaction.

     On April 4, 2002 the Issuer entered into a Conditional Stock Exchange
Agreement ("Exchange Agreement") with Cardio Management Systems, Inc., a
corporation organized under the Canada Business Corporation Act ("Cardio"), and
Ms. Patti Cooke, the sole record stockholder of Cardio. (Ms. Cooke holds the
Cardio shares as a nominee for undisclosed principals. She is also the President
and a director of the Issuer.) Under the Exchange Agreement, if specified
conditions are met, the Issuer will acquire all of the outstanding stock of
Cardio in exchange for 5,000,000 shares of the Issuer's common stock. The
Issuer's stock would be issued as "restricted securities " as such are defined
under the Securities Act of 1933. They would be issued in reliance upon the
exemption from registration under Section 5 of that Act provided in Section 4(2)
thereof or Regulation D adopted thereunder.

     Cardio was recently formed to provide funds to and acquire an investment in
Estracure, Inc., a Canadian corporation (Estracure"). Cardio has acquired 26 of
the 100 shares of Estracure presently outstanding for which it paid $2,500,000
(Canadian - which equated to $1,809,889 U.S. as of July 25, 2003). Estracure is
involved in the research, development and commercialization of the use of
"Estradiol" to reduce restenosis after angioplasty (see additional description
following). If the undergoing human clinical trails of Estradiol are deemed
successful, Cardio has the option to acquire sufficient additional shares of
Estracure to bring its ownership interest therein to 50% in exchange for
$7,500,000 Canadian ($5,429,668 U.S. as of July 25, 2003).

     The contractual arrangements between Cardio and Estracure provide that
Cardio may not, at any time, acquire more than 50% of the outstanding common
stock of Estracure (which prohibition is designed to protect valuable and
favorable Canadian Tax treatment for Estracure and its shareholders). If
DuraVest acquires the stock of Cardio it could be considered to be "investment
securities" as such are defined under the Investment Company Act of 1940 ("40
Act") and their ownership by Cardio as a wholly owned subsidiary of DuraVest
could cause DuraVest to become an unregistered inadvertent investment company
under the 40 Act. The parties to the Exchange Agreement have been advised that
the circumstances of the Cardio investment in Estracure are such that there is a
reasonable possibility that: (i) DuraVest could apply for and obtain a
"no-action" letter from the United States Securities and Exchange Commission
("SEC") under which the Cardio acquisition could be completed without causing a
violation of the 40 Act by DuraVest; or (ii) if DuraVest would acquire
sufficient additional assets so that the Estracure investment would be less than
40% of its total assets less cash items, DuraVest could obtain an opinion of
counsel that the completion of the Cardio acquisition would not cause a
violation of the 40 Act by DuraVest.

     Accordingly, the completion of the acquisition of Cardio by DuraVest is
conditioned upon the receipt of DuraVest of either:

     (i)  A "no-action" letter from the SEC that the completion of the Cardio
          acquisition with the resultant ownership by DuraVest of Cardio with
          its investment in Estracure (with Estracure now being a "majority
          owned subsidiary" of Cardio under the 40 Act) will not cause a
          violation of the 40 Act; or

     (ii) an opinion of counsel that the completion of the Cardio acquisition
          with the resultant ownership by DuraVest of Cardio with its investment
          in Estracure (with Estracure not being a "majority owned subsidiary"
          of Cardio under the 40 Act) will not cause a violation of the 40 Act.

DuraVest intends to pursue the satisfaction of either or both of these two
conditions or to amend the Cardio-Estracure arrangements to enable Cardio to
acquire more than 50% of Estracure. However, there is no assurance, it will be
able to satisfy either of the state requirements or to amend the
Cardio-Estracure arrangements.


                                       13
<PAGE>



     The only material assets of Cardio are its investment in Estracure and its
option to acquire additional stock in Estracure. Neither Cardio or DuraVest
presently have the funds to finance the exercise of Cardio's options to acquire
additional Estracure stock. Accordingly, their ability to exercise this option
will be dependent upon their ability to raise additional capital. There is no
assurance that: (i) Estracure's human clinical trials of the Estradiol
treatments will be successful; (ii) Cardio or DuraVest will be able to raise
sufficient capital to exercise the option to acquire the additional Estracure
stock; or (iii) Estracure will be able to successfully develop and commercially
market Estradiol.

     The shareholders of Estracure, including Cardio, have entered into a
"Shareholders Agreement", the principal provisions of which are as follows:

     (i)  Cardio is entitled to nominate two of the five members of the Board of
          Directors;

     (ii) Subject to the option of Cardio to subscribe to additional shares in
          consideration of the sum of C$7,500,000, the shareholders of Estracure
          benefit from a preemptive right to subscribe, on a pro rata basis, to
          any additional shares issued to Estracure;

    (iii) a Shareholder of Estracure may only assign its shares therein in the
          following circumstances:

          -    The assignment is made to an affiliate, subsidiary, or holding
               company of said shareholder, provided, where such a shareholder
               is Cardio and the assignee is DuraVest, that as a result of such
               assignment, DuraVest must not be considered to have control of
               Estracure nor, in the opinion of Estracure, may it be in
               violation of the Investment Company Act of 1940 (US); or

          -    such a shareholder has offered his shares to the other
               shareholders who are entitled to acquire same on a pro rata
               basis.

     (iv) In the event that one or more shareholders holding, in the aggregate,
          more than 50% of the issued and outstanding shares of Estracure which
          to assign their shares to a third party, the remaining shareholders
          may require that their shares be purchased on the same terms and
          conditions. Inversely, under the same circumstances, the shareholders
          controlling more than 50% of the issued and outstanding shares of
          Estracure may compel the remaining shareholders to sell to such a
          third party.

     (v)  A Shareholder shall be deemed to sell all of its shares in Estracure
          upon the occurrence of certain events, the following of which are
          applicable to Cardio:

          -    change of control of Cardio except for its Acquisition by
               DuraVest without the unanimous consent of the other shareholders
               of Estracure;

          -    the seizure of a shareholder's shares in Estracure and such
               seizure is not or contested within 30 days thereof;

          -    the bankruptcy of a shareholder;

          -    fraud by a shareholder;

          -    criminal Act by a shareholder;

          -    the default of a shareholder in respecting anyone of its
               obligation under the terms of Shareholders Agreement in such
               default has not been remedied within a reasonable time; and

     (vi) Decisions in respect of a number of matters have been made subject to
          the consent of the shareholders, either by a 75% majority or by
          unanimous approval.


                                       14
<PAGE>


     Estracure's Estradiol project has been developed by a team of Canadian
medical researchers working under the auspices of the Montreal Heart Institute.
They began their research in 1997 to determine why arteriosclerosis and other
diseases creating induration of the arteries occurred more frequently in men
than women. They focused their efforts on the potential role of naturally
occurring hormones unique to women in blocking the onset of arteriosclerosis or
other induration of the arteries. After preliminary trials they focused their
efforts on a form of Estradiol (17-beta Estradiol), a female sex hormone of the
estrogen family. At this point their goal was to develop a product and treatment
which would reduce the recurrence of blockage following an angioplasty
procedure, a non-surgical interventional procedure using a tiny balloon to open
blocked arterial passages and the use of intravascular stents. The Estracure
treatment involves the application or injection of Estradiol during the
angioplasty procedure to impede the re-blocking of the arterial passage.

     The results of the research to date have been promising. The initial
theoretical studies have been followed by work in a more clinically relevant
model, the stent porcine coronary artery model, where there was a renewed
confirmation of restenosis as well as a lower inflammatory score.

     Estracure is now proceeding to set up human clinical trials of Estradiol.
Estracure inc. has received approval from Canadian health authorities to
initiate a Phase II clinical trial of 17-8-Estradiol in the prevention of
restenosis in patients following percutaneous transluminal coronary angioplasty
(PTCA) and stent implantation.

     The Phase II clinical trial which has just started will evaluate the safety
and efficacy of 17-8-Estradiol in patients having narrowing or constriction of
the coronary arteries caused by atherosclerotic disease. 17-8-Estradiol will be
locally administered in a minimally invasive fashion by bolus infusion during a
PTCA procedure. Contrary to other anti-restenosis drugs presently in clinical
evaluation, 17-8-Estradiol is a non-toxic naturally occurring hormone that has
been shown by Estracure's scientific team to have a dual beneficial effect in
improving vascular healing and preventing restenosis after angioplasty. Animal
studies have demonstrated that local delivery of 17-8-Estradiol significantly
decreases neointimal hyperplasia after PTCA without secondary effects.

     If the results of these trials are satisfactory, Estracure intends to
proceed with the research and development of Estradiol and take the necessary
actions to make it, including obtaining the necessary regulatory approvals.
Before Estracure can proceed beyond the human clinical trials, it will have to
acquire additional funding. If Cardio is not able to provide capital by
exercising its option, Estracure will have to pursue other sources not now known
to it.

     Except for the arrangements with Cardio, there are no present arrangements
for, or ongoing negotiations with respect to, all business combination with the
Issuer. The Issuer has no present knowledge of any other specific candidate for
a business combination. The management of DuraVest believes it will have to
acquire additional capital to continue its operations over the next 12 months.
If it acquires Cardio during that period and desires for Cardio to exercise its
option to purchase additional Estracure stock, DuraVest will have to obtain the
C$7,500,000 necessary for the option and additional capital to finance
DuraVest's operations. There are no present arrangements for the acquisition of
any additional capital or any assurance that such will be available.

     The Issuer entered into a written agreement under which the equipment
manufacturer with whom the Issuer had made a $100,000 advance deposit has agreed
to return the deposit in five monthly installments of $20,000 of the first day
of each month commencing May 1, 2000. The Issuer received two payments of
$20,000 each under the settlement agreement. When the manufacturer had indicated
it is unable or unwilling to complete the payments, the Issuer accepted an
additional $20,000 in final settlement in February of 2003.



                                       15
<PAGE>


                           PART II - OTHER INFORMATION


Item 1.   Legal Proceedings

          Not Applicable


Item 2.   Changes in Securities

          Not Applicable


Item 3.   Defaults in Senior Securities

          Not Applicable


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

          Not Applicable

Item 5.   Other Information

          Not Applicable


Item 6.   Exhibit and Reports on Form 8-K

          (a)      Exhibits:

                   31     Certification Pursuant to Section 302 of the Sarbanes-
                          Oxley Act

                   32     Certification Pursuant to Section 906 of the Sarbanes-
                          Oxley Act

          (b)      Form 8-Ks:

                   No  Reports of Form 8-K were filed during the three-month
period ended June 30, 2003.



                                       16
<PAGE>


                                   SIGNATURES
                                   ----------

In accordance with the Exchange Act, the registrant caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.

                          DURAVEST, INC.


Dated: August 1, 2003     By: /s/ Patti Cooke
                             ---------------------------------------------------
                             Patti Cooke, President and Principal Executive, and
                             Accounting Officer and Sole Director






























                                       17