UNITED STATES



SECURITIES AND EXCHANGE COMMISSION



WASHINGTON, D.C. 20549



FORM 10-KSB

[XX] ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED MARCH 31, 2002

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ____ TO ____



Commission file Number: 000-26931

SOLID MANAGEMENT CORP.

(Name of small business issuer in its charter)

Nevada

(State or other jurisdiction of incorporation or organization)

98-0204702

(I.R.S. Employer Identification Number)

Suite 612

475 Howe  Street Vancouver, British Columbia V6C 2B3

(Address of principal executive offices)

(604) 688-2010

(Issuer's telephone number)

Securities registered under Section 12(b) of the Exchange Act:                        None

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

Title of Each Class 					Name of Each Exchange on which Registered

Common Stock, $0.0001 par value 			Not yet listed or quoted

Check whether the Issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

[ X ] Yes [ ___ ] No

Check if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B contained in this form, and no disclosure will be contained, to the best of Issuer'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. [ ___ ]

The Issuer's revenues for its most recent fiscal year were:   	 $Nil.

As of March 31, 2002, there were 500,000 shares of the Issuer's common stock issued and outstanding and the aggregate market value of such common stock held by non-affiliates (196,000 shares) was approximately $Nil as the Issuer's shares are not yet traded on a public market.

Transitional Small Business Disclosure Format (Check one): Yes ____; No __X__

PART I

BUSINESS ITEM 1 - DESCRIPTION OF BUSINESS

Solid Management Corp. (referred to as "us," "we" or "our") was incorporated on July 18, 1997 under the laws of the State of Nevada to engage in any lawful corporate purpose. Other than issuing shares to our shareholders, we never commenced any other operational activities. We can be defined as a "blank check" company, whose sole purpose at this time is to locate and consummate a merger or acquisition with a private entity.

The proposed business activities classifies us as a "blank check" company. The Securities and Exchange Commission defines these companies as "any development stage company that is issuing a penny stock (within the meaning of section 3 (a)(51) of the Securities Exchange Act of 1934) and that has no specific business plan or purpose, or has indicated that its business plan is to merge with an unidentified company or companies." Many states have enacted statutes, rules and regulations limiting the sale of securities of "blank check" companies in their respective jurisdictions. Management does not intend to undertake any efforts to cause a market to develop in our securities, either debt or equity, until we have successfully implemented our business plan. We comply with the periodic reporting requirements of the Securities Exchange Act of 1934.

ITEM 2 - DESCRIPTION OF PROPERTY

The Issuer operates from its offices at Suite 612, 475 Howe Street, Vancouver, British Columbia, V6C 2b3, Canada. Space is provided to the Issuer on a rent free basis by Spirit Energy Corp, and it is anticipated that this arrangement will remain until we successfully consummate a merger or acquisition. Management believes that this space will meet our needs for the foreseeable future. The Issuer owns no real property.

ITEM 3 - LEGAL PROCEEDINGS

The Issuer is not a party to any pending or threatened legal proceedings.

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

No matters were submitted to a vote of security holders during the fourth quarter of the fiscal year-ended March 31, 2002. The Issuer's 2002 annual general meeting is scheduled to be held on August 31, 2002 at Suite 1000, 409 Granville Street, Vancouver, British Columbia at 10:00 a.m. The Issuer's security holders will be requested to elect new directors, to appoint the Issuer's auditors for the 2002/2003 fiscal year and to ratify all actions taken by the officers and directors of the Issuer the preceding year. No other business is expected to be brought before the Issuer's shareholders at the 2002 annual general meeting. The Issuer's notice of annual general meeting, Schedule 14A proxy statement and proxy are being filed separately and are incorporated herein by reference.

PART II

ITEM 5 - MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

1. Market Information
2. Stockholders

The Issuer has 10 holders of record of its common shares.

No dividends have been declared on the Issuer's common shares. There are no restrictions that limit the ability to pay dividends on the Issuer's common shares.



ITEM 6 - PLAN OF OPERATION

1. PLAN OF OPERATION
2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

We have been a blank check company since incorporation and have no revenue.  Our purpose is to acquire an interest in business opportunities presented by persons or firms that seek the perceived advantages of an Exchange Act registered corporation. We will not restrict our search to any specific business, industry, or geographical location and we may participate in a business venture of virtually any kind or nature. This discussion of the proposed business is general and is not meant to restrict our discretion to search for and enter into potential business opportunities. Management anticipates that it may be able to participate in only one potential business venture because we have nominal assets and limited financial resources. This lack of diversification should be considered a substantial risk to our shareholders.

We may seek a business opportunity with companies that have recently commenced operations, or that wish to utilize the public marketplace in order to raise additional capital in order to expand into new products or markets, to develop a new product or service, or for other corporate purposes. We may acquire assets and establish wholly owned subsidiaries in various businesses or acquire existing businesses as subsidiaries.

We anticipate that the selection of a business opportunity will be complex and extremely risky. Due to general economic conditions, rapid technological advances being made in some industries and shortages of available capital, management believes that there are numerous firms seeking the perceived benefits of a publicly registered corporation. The perceived benefits may include facilitating or improving the terms for additional equity financing that may be sought, providing liquidity for incentive stock options or similar benefits to key employees, providing liquidity (subject to restrictions of applicable statutes) for all shareholders and other factors. Business opportunities may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of these business opportunities extremely difficult and complex.

We have, and will continue to have, no capital to provide to the owners of business opportunities. However, management believes we will be able to offer owners of acquisition candidates the opportunity to acquire a controlling ownership interest in a publicly registered company without incurring the cost and time required to conduct an initial public offering. The owners of the business opportunities will, however, incur significant legal and accounting costs in connection with acquisition of a business opportunity, including the costs of preparing Form 8-K's, 10-K's or 10-KSBs, 10-Q's or 10-QSBs, agreements and related reports and documents. The '34 Act specifically requires that any merger or acquisition candidate comply with all applicable reporting requirements, which include providing audited financial statements to be included within the numerous filings relevant to complying with the '34 Act. Nevertheless, the officers and directors of the Issuer have not conducted market research and are not aware of statistical data that would support the perceived benefits of a merger or acquisition transaction for the owners of a business opportunity.

The analysis of new business opportunities will be undertaken by our officers and directors, none of whom is a professional business analyst. Management intends to concentrate on identifying preliminary prospective business opportunities that may be brought to our attention through present associations of our officers and directors, or by our shareholders. In analyzing prospective business opportunities, management will consider:

- the available technical, financial and managerial resources;
- * working capital and other financial requirements;
- * history of operations, if any;
- * prospects for the future; * nature of present and expected competition;
- * the quality and experience of management services that may be available and the depth of that management;
- * the potential for further research, development, or exploration;
- * specific risk factors not now foreseeable but which could be anticipated to impact our proposed activities;
- * the potential for growth or expansion;
- * the potential for profit;
- * the perceived public recognition of acceptance of products, services, or trades;
- * name identification; and
- * other relevant factors.

Our officers and directors expect to meet personally with management and key personnel of the business opportunity as part of their "due diligence" investigation. To the extent possible, the Issuer intends to utilize written reports and personal investigations to evaluate businesses. We will not acquire or merge with any company that cannot provide audited financial statements within a reasonable period of time after closing of the proposed transaction.

Our management will rely upon their own efforts and, to a much lesser extent, the efforts of our shareholders, in accomplishing our business purposes. We do not anticipate that any outside consultants or advisors, except for our legal counsel and accountants, will be utilized by us to accomplish our business purposes. However, if we do retain an outside consultant or advisor, any cash fee will be paid by the prospective merger/acquisition candidate, as we have no cash assets. We have no contracts or agreements with any outside consultants and none are contemplated.

We will not restrict our search for any specific kind of firms, and may acquire a venture that is in its preliminary or development stage or is already operating. We cannot predict the status of any business in which we may become engaged, because the business may need to seek additional capital, may desire to have its shares publicly traded, or may seek other perceived advantages that we may offer. Furthermore, we do not intend to seek capital to finance the operation of any acquired business opportunity until we have successfully consummated a merger or acquisition.

We anticipate that we will incur nominal expenses in the implementation of our business plan. Because we have no capital to pay these anticipated expenses, present management will pay these charges with their personal funds, as interest free loans, for a minimum of twelve months from the date of this registration statement. If additional funding is necessary, management and or shareholders will continue to provide capital or arrange for additional outside funding. However, the only opportunity that management has to have these loans repaid will be from a prospective merger or acquisition candidate. Management has no agreements with us that would impede or prevent consummation of a proposed transaction. We cannot assure, however, that management will continue to provide capital indefinitely if a merger candidate cannot be found. If a merger candidate cannot be found in a reasonable period of time, management may be required reconsider its business strategy, which could result in our dissolution.

Acquisition of Opportunities

In implementing a structure for a particular business acquisition, we may become a party to a merger, consolidation, reorganization, joint venture, or licensing agreement with another corporation or entity. We may also acquire stock or assets of an existing business. On the consummation of a transaction, it is probable that our present management and shareholders will no longer be in control. In addition, our directors may, as part of the terms of the acquisition transaction, resign and be replaced by new directors without a vote of our shareholders. Furthermore, management may negotiate or consent to the purchase of all or a portion of our stock. Any terms of sale of the shares presently held by officers and/or directors will be also afforded to all other shareholders on similar terms and conditions. Any and all sales will only be made in compliance with the securities laws of the United States and any applicable state. While the actual terms of a future transaction cannot be predicted, it is expected that the parties to the business transaction will find it desirable to avoid the creation of a taxable event and thereby structure the acquisition in a so-called "tax-free" reorganization under Sections 368(a)(1) or 351 of the Internal Revenue Code (the "Code"). In order to obtain tax-free treatment under the Code, it may be necessary for the owners of the acquired business to own 80% or more of the voting stock of the surviving entity. In that event, the shareholders of the Issuer would retain 20% or less of the issued and outstanding shares of the surviving entity, which would result in significant dilution in the equity of the shareholders.

As part of the "due diligence" investigation, our officers and directors will meet personally with management and key personnel, may visit and inspect material facilities, obtain independent verification of certain information provided, check references of management and key personnel, and take other reasonable investigative measures to the extent of our limited financial resources and management expertise. How we will participate in an opportunity will depend on the nature of the opportunity, the respective needs and desires of the parties, the management of the target company and our relative negotiation strength.

Negotiations with target company management are expected to focus on the percentage of our company that the target company shareholders would acquire in exchange for all of their shareholdings in the target company. Depending upon the target company's assets and liabilities, our shareholders will probably hold a substantially lesser percentage ownership interest following any merger or acquisition. Percentage ownership may be subject to significant reduction in the event we acquire a company with substantial assets. Any merger or acquisition effected by us can be expected to have a significant dilutive effect on the percentage of shares held by our remaining shareholders.

We will participate in a business opportunity only after the negotiation and signing of appropriate written agreements. Although we cannot predict the terms of the agreements, generally the agreements will require some specific representations and warranties by all of the parties, will specify certain events of default, will detail the terms of closing and the conditions that must be satisfied by each of the parties before and after the closing.

We will not acquire or merge with any entity that cannot provide independent audited financial statements concurrent with the closing of the proposed transaction. We are subject to the reporting requirements of the '34 Act. Included in these requirements is our affirmative duty to file independent audited financial statements as part of its Form 8-K to be filed with the Securities and Exchange Commission upon consummation of a merger or acquisition, as well as our audited financial statements included in our annual report on Form 10-K (or 10-KSB, as applicable) and quarterly reports on Form 10-Q (or 10-QSB, as applicable). If the audited financial statements are not available at closing, or if the audited financial statements provided do not conform to the representations made by the candidate to be acquired in the closing documents, the closing documents will provide that the proposed transaction will be voidable at the discretion of our present management. If the transaction is voided, the agreement will also contain a provision providing for the acquisition entity to reimburse us for all costs associated with the proposed transaction.

Competition

We are an insignificant participant among the firms that engage in the acquisition of business opportunities. There are many established venture capital and financial concerns that have significantly greater financial and personnel resources and technical expertise than we do. In view of our extremely limited financial resources and limited management availability we will continue to be at a significant competitive disadvantage compared to our competitors.

ITEM 7 - FINANCIAL STATEMENTS

The audited financial statements for Solid Management Corp. for the year ending March 31, 2002 are included as part of this Form 10KSB following the signature page of this Form 10KSB.

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

The Issuer has had no change in its principal independent accountant during its last financial year ended March 31, 2002. The Issuer has had no disagreements with its principal independent accountant on any accounting or financial disclosure.

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 and ages of the current directors, executive officers and key employees of the Issuer and the principal offices and positions with the Issuer held by each person. The Board of Directors currently consists of one director.

NAME     			AGE				POSITION

Lana Bea Turner 		47 				President, Secretary and Director

The above listed officers and directors will serve until the next annual meeting of the shareholders or until their death, resignation, retirement, removal or disqualification or until their successors have been duly elected and qualified. Vacancies in the existing Board of Director are filled by majority vote of the remaining directors. Officers of the Issuer serve at the will of the Board of Directors. There are no family relationships between any execute officer or director of the Issuer.

Ms. Lana Bea Turner was appointed to her positions on February ??, 2002. She devotes her time as necessary to our business, which time is expected to be nominal.

Ms. Turner is a corporate administrator and  is the Corporate Secretary of Crystal Graphite Corporation and the President of Walkers Management Corp.

SIGNIFICANT EMPLOYEES

The Issuer has one employee. Ms. Lana Bea Turner is the President, Secretary and Treasurer of the Issuer. Ms. Turner devotes her time as necessary to our business, which time is expected to be nominal.

There are no family relationships among the directors, executive officer or persons nominated or chosen by the Issuer to become directors or executive officers.

No bankruptcy petition has been filed by or against any business of which Andrea Carley is a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time.

Ms. Turner has never been convicted in a criminal proceeding and is not subject to a pending criminal proceeding. Ms. Turner has never been subject to any order, judgment or decree, not subsequently reversed, suspended or vacated of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting their involvement in any type of business, securities or banking activities.

Ms. Turner has never been found by a court of competent jurisdiction (in a civil action), the Commission or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law.

COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT

Based on the Issuer's review of copies of forms filed with the Securities and Exchange Commission or written representations from certain reporting persons, in compliance with Section 16(a) of the Securities Exchange Act of 1934, the Issuer believes that during fiscal year 2002, all officers, directors and greater than ten percent beneficial owners complied with the applicable filing requirements.

ITEM 10 - EXECUTIVE COMPENSATION

None of our officers and/or directors have received any compensation. They all have agreed to act without compensation until authorized by the Board of Directors, which is not expected to occur until we have generated revenues from operations. As of the date of this registration statement, we have no funds available to pay directors. Further, none of the directors are accruing any compensation pursuant to any agreement with us.

It is possible that, after we successfully complete a merger or acquisition, that company may employ or retain one or more members of our management for the purposes of providing services to the surviving entity. Each member of management has agreed to disclose to the Board of Directors any discussions concerning possible employment by any entity that proposes to undertake a transaction with us and further, to abstain from voting on the transaction. Therefore, as a practical matter, if each member of the Board of Directors is offered employment in any form from any prospective merger or acquisition candidate, the proposed transaction will not be approved by the Board of Directors as a result of the inability of the Board to affirmatively approve the transaction. The transaction would then be presented to our shareholders for approval.

It is possible that persons associated with management may refer a prospective merger or acquisition candidate to us. In the event we complete a transaction with any entity referred by associates of management, it is possible that the associate will be compensated for their referral in the form of a finder's fee. It is anticipated that this fee will be either in the form of restricted common stock issued by us as part of the terms of the proposed transaction, or will be in the form of cash consideration. If compensation is in the form of cash, payment will be tendered by the acquisition or merger candidate, because we have insufficient cash available. The amount of any finder's fee cannot be determined as of the date of this registration statement, but is expected to be comparable to consideration normally paid in like transactions, which range up to ten (10%) percent of the transaction price. No member of management will receive any finders fee, either directly or indirectly, as a result of their efforts to implement our business plan.

No retirement, pension, profit sharing, stock option or insurance programs have been adopted by the Issuer's for the benefit of its employees.

ITEM 11 - SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The following table sets forth the number of shares of the Issuer's Common Stock beneficially owned by (i) each director and nominee for election to the Board of Directors of the Issuer; (ii) each of the named executive officers in the Summary Compensation Table; (iii) all directors and executive officers as a group; and (iv) to the best of the Issuer's knowledge, all beneficial owners of more than 5% of the outstanding shares of the Issuer's Common Stock as of March 31, 2002. Unless otherwise indicated, the shareholders listed in the table have sole voting and investment power with respect to the shares indicated. The Issuer has been provided such information by its directors, nominees for directors and executive officers.

|Name (and address of 5% holder))                                        | OR Common Shares Beneficially | Percent 
|----------------------------------------------------------------------- | ----------------------------- | --------
|Identity of Group                                                       | Owned (1)                     | of Class
|Devinder Randhawa 
Suite 104 1456 St. Paul Street
Kelowna, B.C.
V1Y 2E6 | 152,000                       | 30.4%   
|Bob Hemmerling 
908 Horizon Drive
Kelowna, B.C.
V1Z 3L3                 | 152,000                       | 30.4%   

1. Under the rules of the Securities and Exchange Commission, shares not actually outstanding are nevertheless deemed to be beneficially owned by a person if such person has the right to acquire the shares within 60 days. Pursuant to such SEC rules, shares deemed beneficially owned by virtue of a person's right to acquire them are also treated as outstanding when calculating the percent of class owned by such person and when determining the percentage owned by a group.
2. Based on 500,000 shares of Common Stock issued and outstanding as of March 31, 2002.

There are no arrangements in place which may result in a change of control of the Issuer.

ITEM 12 - CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

There have been no related party transactions, or any other transactions or relationships required to be disclosed pursuant to Item 404 of Regulation S-B.

ITEM 13 - EXHIBITS AND REPORTS ON FORM 8-K

1. Exhibits
2. EXHIBIT NO.	DESCRIPTION

1. Articles of Incorporation filed July 18, 1997, and amendments thereto filed June 14, 1999, as filed with the Issuer's Form 10-SB (file no. 000-26931) filed on August 4, 1999 incorporated herein by reference.
2. Bylaws as filed with the Issuer's Form 10-SB (file no.000-26931) on August 4, 1999 incorporated herein by reference.

1. Form of Lock Up Agreement Executed by the Issuer's Shareholders as filed with the Issuer's Form 10-SB (file no.000-26931) filed on August 4, 1999, incorporated herein by reference.

4.1..1	Specimen Informational Statement as filed with the Issuer's Form 10-SB (file no.000-26931) filed on August 4, 1999, incorporated herein by reference.

13.1 	Form 10QSB for the Period ended June 30, 2001, filed on November 16, 2001 incorporated herein by reference.

1. Form 10QSB for the Period ended September 30, 2001, filed on November 16, 2001, incorporated herein by reference.
2. Form 10QSB for the Period ended December 31, 2001, filed on February 19, 2002, incorporated herein by reference.

1. Reports on Form 8-K

None

SIGNATURES



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



SOLID MANAGEMENT CORP.



Dated: July 22, 2002

Per: /s/ Lana Bea Turner

____________________
President & Director











SOLID MANAGEMENT CORPORATION

(A Development Stage Company)



FINANCIAL STATEMENTS



MARCH 31, 2002

|DAVIDSON & COMPANY | Chartered Accountants | A Partnership of Incorporated Professionals
|------------------ | --------------------- | -------------------------------------------





INDEPENDENT AUDITORS' REPORT





To the Directors and Stockholders of
Solid Management Corporation
(A Development Stage Company)



We have audited the accompanying  balance sheets of Solid Management Corporation as at March 31, 2002 and 2001 and the related  statements of operations, stockholders' deficiency and cash flows for the years then ended and for the period from inception on July 18, 1997 to March 31, 2002.  These financial statements are the responsibility of the Company's management.  Our responsibility  is to express an opinion on these financial statements based on our audits.



We conducted our audits in accordance with generally accepted auditing standards in the United States of America.  Those standards require that we plan and perform an 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 audits provide a reasonable basis for our opinion.



The accompanying financial statements have been prepared assuming that Solid Management Corporation will continue as a going concern.  The Company is in the development stage and does not have the necessary working capital for its planned activity which raises substantial doubt about its ability to continue as a going concern.  Management's plans in regards to these matters are discussed in Note 2.  The financial statements do not include any adjustments that might result from the outcome of this uncertainty.



In our opinion, the financial statements present fairly, in all material respects, the financial position of Solid Management Corporation  as at March 31, 2002 and 2001 and the results of its operations and its cash flows for the years then ended and for the period from inception on July 18, 1997 to March 31, 2002 in conformity with generally accepted accounting principles in the United States of America.



"DAVIDSON & COMPANY"





|Vancouver, Canada | Chartered Accountants
|----------------- | ---------------------
|June 21, 2002     |                      



SOLID MANAGEMENT CORPORATION(A Development Stage Company)
BALANCE SHEETS
AS AT MARCH 31

|                                                      | 2002     | 2001    
|----------------------------------------------------- | -------- | --------
|                                                      |          |         
|ASSETS                                                | $	-      | $	-     
|                                                      |          |         
|LIABILITIES AND STOCKHOLDERS' DEFICIENCY              |          |         
|Current                                               |          |         
|Accounts payable and accrued liabilities              | $	3,300  | $	9,608 
|                                                      |          |         
|                                                      |          |         
|Stockholders' deficiency                              |          |         
|Capital stock (Note 4)                                |          |         
|Authorized                                            |          |         
|100,000,000 common shares with a par value of $0.0001 |          |         
|Issued and outstanding                                |          |         
|March 31, 2001 - 500,000 common shares                |          |         
|March 31, 2002 - 500,000 common shares                | 50       | 50      
|Additional paid in capital                            | 40,886   | 26,735  
|Deficit accumulated during the development stage      | (44,236) | (36,393)
|                                                      |          |         
|                                                      | (3,300)  | (9,608) 
|                                                      |          |         
|Total liabilities and stockholders' deficiency        | $	-      | $	-     



Subsequent event (Note 7)











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

SOLID MANAGEMENT CORPORATION(A Development Stage Company)

STATEMENTS OF OPERATIONS

|                                              | Cumulative
Amounts
From Inception
on July 18,
1997 to
March 31,
2002 | Year Ended
March 31,
2002 | Year Ended
March 31,
2001
|--------------------------------------------- | -------------------------------------------------------------------- | ------------------------- | -------------------------
|                                              |                                                                      |                           |                          
|EXPENSES                                      |                                                                      |                           |                          
|Office and miscellaneous                      | $	5,646                                                              | $	-                       | $	1,104                  
|Professional fees                             | 38,590                                                               | 7,843                     | 22,306                   
|                                              |                                                                      |                           |                          
|Loss for the period                           | $	(44,236)                                                           | $	(7,843)                 | $	(23,410)               
|                                              |                                                                      |                           |                          
|Basic and diluted loss per share              |                                                                      | $	(0.02)                  | $	(0.05)                 
|                                              |                                                                      |                           |                          
|Weighted average number of shares outstanding |                                                                      | 500,000                   | 500,000                  





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

SOLID MANAGEMENT CORPORATION(A Development Stage Company)
STATEMENTS OF CASH FLOWS

|                                                                       | Cumulative
Amounts
	From Inception
on July 18,
1997  to
March 31,
2002 | Year Ended
March 31,
2002 | Year Ended
March 31,
2001
|---------------------------------------------------------------------- | ---------------------------------------------------------------------- | ------------------------- | -------------------------
|                                                                       |                                                                        |                           |                          
|CASH FLOWS FROM OPERATING ACTIVITIES                                   |                                                                        |                           |                          
|Loss for the period                                                    | $	(44,236)                                                             | $	(7,843)                 | $	(23,410)               
|Stock issued for services                                              | 50                                                                     | -                         | -                        
|Expenses paid by related entity on behalf of Company                   | 40,886                                                                 | 14,151                    | 13,802                   
|                                                                       |                                                                        |                           |                          
|Changes in non-cash operating assets and liabilities                   |                                                                        |                           |                          
|Increase (decrease) in accounts payable                                | 3,300                                                                  | (6,308)                   | 9,608                    
|                                                                       |                                                                        |                           |                          
|Net cash used in operating activities                                  | -                                                                      | -                         | -                        
|                                                                       |                                                                        |                           |                          
|CASH FLOWS FROM INVESTING ACTIVITIES                                   |                                                                        |                           |                          
|Net cash used in investing activities                                  | -                                                                      | -                         | -                        
|                                                                       |                                                                        |                           |                          
|CASH FLOWS FROM FINANCING ACTIVITIES                                   |                                                                        |                           |                          
|Net cash provided by financing activities                              | -                                                                      | -                         | -                        
|                                                                       |                                                                        |                           |                          
|Change in cash position during the period                              | -                                                                      | -                         | -                        
|                                                                       |                                                                        |                           |                          
|Cash position, beginning of the period                                 | -                                                                      | -                         | -                        
|                                                                       |                                                                        |                           |                          
|Cash position, end of the period                                       | $	-                                                                    | $	-                       | $	-                      
|                                                                       |                                                                        |                           |                          
|Supplemental disclosure with respect to cash flows:                    |                                                                        |                           |                          
|Cash paid for income taxes                                             | $	-                                                                    | $	-                       | $	-                      
|Cash paid for interest                                                 | -                                                                      | -                         | -                        
|                                                                       |                                                                        |                           |                          
|Supplemental disclosure of non-cash investingand financing activities: |                                                                        |                           |                          
|Common shares issued for services                                      | $	50                                                                   | $	-                       | $	-                      
|Expenses paid by related entity on behalf of the Company               | 40,886                                                                 | 14,151                    | 13,802                   



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

SOLID MANAGEMENT CORPORATION(A Development Stage Company)
STATEMENT OF STOCKHOLDERS' DEFICIENCY



|                                  | Common Stock | Additional | Deficit
Accumulated
During
the | Total            
|--------------------------------- | ------------ | ---------- | ------------------------------ | -----------------
|                                  | Shares       | Amount     | Paid in
Capital                | Development
Stage
|                                  |              |            |                                |                  
|Balance, July 18, 1997            | -            | $	-        | $	-                            | $	-              
|                                  |              |            |                                |                  
|Capital stock issued for services | 500,000      | 50         | -                              | -                
|                                  |              |            |                                |                  
|Loss for the period               | -            | -          | -                              | (50)             
|                                  |              |            |                                |                  
|Balance, March 31, 1998           | 500,000      | 50         | -                              | (50)             
|                                  |              |            |                                |                  
|Loss for the year                 | -            | -          | -                              | -                
|                                  |              |            |                                |                  
|Balance, March 31, 1999           | 500,000      | 50         | -                              | (50)             
|                                  |              |            |                                |                  
|Shareholder capital contribution  | -            | -          | 12,933                         | -                
|                                  |              |            |                                |                  
|Loss for the year                 | -            | -          | -                              | (12,933)         
|                                  |              |            |                                |                  
|Balance, March 31, 2000           | 500,000      | 50         | 12,933                         | (12,983)         
|                                  |              |            |                                |                  
|Shareholder capital contribution  | -            | -          | 13,802                         | -                
|                                  |              |            |                                |                  
|Loss for the year                 | -            | -          | -                              | (23,410)         
|                                  |              |            |                                |                  
|Balance, March 31, 2001           | 500,000      | 50         | 26,735                         | (36,393)         
|                                  |              |            |                                |                  
|Shareholder capital contribution  | -            | -          | 14,151                         | -                
|                                  |              |            |                                |                  
|Loss for the year                 | -            | -          | -                              | (7,843)          
|                                  |              |            |                                |                  
|Balance, March 31, 2002           | 500,000      | $	50       | $	40,886                       | $	(44,236)       





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

SOLID MANAGEMENT CORPORATION

(A Development Stage Company)
NOTES TO THE FINANCIAL STATEMENTS
MARCH 31, 2002

1.	ORGANIZATION OF THE COMPANY



Solid Management Corporation ("the Company") was incorporated on July 18, 1997 under the laws of Nevada to engage in any lawful business or activity for which corporations may be organized under the laws of the State of Nevada.



The Company entered the development stage in accordance with Statement of Financial Accounting Standards No. 7 on July 18, 1997.  Its purpose is to evaluate, structure and complete a merger with, or acquire a privately owned corporation.



The Company is a "Blank Check" company which plans to search for a suitable business to merge with or acquire.  Operations since incorporation consisted primarily of obtaining capital contributions by the initial investors and activities regarding the registration of the offering with the Securities and Exchange commission.



2.	GOING CONCERN



The Company's financial statements are prepared using the generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business.  However, the Company has no current source of revenue.  Without realization of additional capital, it would be unlikely for the Company to continue as a going concern.  The Company's management plans on advancing funds on an as needed basis and in the longer term, revenues from the operations of the merger or acquisition candidate, if found.  The Company's ability to continue as a going concern is dependent on these additional management advances, and, ultimately, upon achieving profitable operations through a merger or acquisition candidate.



3.	SIGNIFICANT ACCOUNTING POLICIES



Use of estimates



The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the year.  Actual results could differ from these estimates.



Loss per share



In February 1997, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 128, "Earnings Per Share" ("SFAS 128").  Under SFAS 128, basic and diluted earnings per share are to be presented.  Basic earnings per share is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding in the period.  Diluted earnings per share takes into consideration common shares outstanding (computed under basic earnings per share) and potentially dilutive common shares.



Financial instruments



The Company's financial instruments consist of accounts payable and accrued liabilities.  Unless otherwise noted, it is management's opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments.  The fair value of these financial instruments approximate their carrying values, unless otherwise noted.



SOLID MANAGEMENT CORPORATION(A Development Stage Company)
NOTES TO THE FINANCIAL STATEMENTS
MARCH 31, 2002



3.	SIGNIFICANT ACCOUNTING POLICIES (cont'd)



Income taxes



Income taxes are provided in accordance with Statement of Financial Accounting Standards No. 109 ("SFAS 109"), "Accounting for Income Taxes".  A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carryforwards.  Deferred tax expenses (benefit) result from the net change during the year of deferred tax assets and liabilities.



Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized.  Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.





Comprehensive income



The Company has adopted Statement of Financial Accounting Standards No. 130 ("SFAS 130"), "Reporting Comprehensive Income".  This statement establishes rules for the reporting of comprehensive income and its components.  The adoption of SFAS 130 had no impact on total stockholders' deficiency as of March 31, 2002.



Accounting for derivative instruments and hedging activities



Effective August 31, 2000, the Company adopted SFAS No. 133, "Accounting for Derivative Instruments and Hedging Activities," as amended. This statement requires companies to record derivatives on the balance sheet as assets or liabilities at their fair value. In certain circumstances, changes in the value of such derivatives may be required to be recorded as gains or losses. The impact of this statement did not have any effect on the Company's financial statements.



Effective June 1, 2001, the Company adopted the SEC's Staff Accounting Bulletin No. 101, "Revenue Recognition in Financial Statements," ("SAB 101").  SAB 101 provides guidance related to revenue recognition.



In July 2001, the FASB issued SFAS No. 141, "Business Combinations", and SFAS No. 142, "Goodwill and Other Intangible Assets." SFAS No. 141 requires that the purchase method of accounting be used for all future business combinations and specifies criteria that intangible assets acquired in a business combination must meet to be recognized and reported apart from goodwill. SFAS No. 142 requires that goodwill and intangible assets with indefinite useful lives no longer be amortized, but instead be tested for impairment at least annually in accordance with the provisions of SFAS No. 142. SFAS No. 142 will also require that intangible assets with estimable useful lives be amortized over their respective estimated useful lives, and reviewed for impairment in accordance with SFAS No. 121. The Company has adopted the provisions of SFAS 141 and SFAS 142 as of July 1, 2001.





SOLID MANAGEMENT CORPORATION(A Development Stage Company)
NOTES TO THE FINANCIAL STATEMENTS
MARCH 31, 2002

3.	SIGNIFICANT ACCOUNTING POLICIES (cont'd)



Accounting for derivative instruments and hedging activities (cont'd)



In August 2001, the FASB issued Statement of Financial Accounting Standards No. 144 ("SFAS 144") "Accounting for the Impairment or Disposal of Long-Lived Assets" that supersedes Statement of Financial Accounting Standards No. 121 "Accounting for the Impairment or Disposal of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of".  SFAS 144 is required to be adopted effective January 1, 2002.



The adoption of these new pronouncements is not expected to have a material effect on the Company's financial position or results of operations.



Stock-based compensation



Statement of Financial Accounting Standards No. 123, "Accounting for Stock-Based Compensation," encourages, but does not require, companies to record compensation cost for stock-based employee compensation plans at fair value.  The Company has chosen to account for stock-based compensation using Accounting Principles Board Opinion No. 25, "Accounting for Stock Issued to Employees."  Accordingly compensation cost for stock options is measured as the excess, if any, of the quoted market price of the Company's stock at the date of the grant over the amount an employee is required to pay for the stock.



4.	CAPITAL STOCK



The Company's authorized capital stock consists of 100,000,000 shares of common stock, with a par value of $0.0001 per share.  All shares of common stock have equal voting rights and, when validly issued and outstanding, are entitled to one vote per share in all matters to be voted upon by shareholders.  The shares of common stock have no pre-emptive, subscription, conversion or redemption rights and may be issued only as fully paid and non-assessable shares.  Holders of the common stock are entitled to share pro-rata in dividends and distributions with respect to the common stock, as may be declared by the Board of Directors out of funds legally available.



On July 18, 1997, the Company issued 500,000 shares of common stock for services at a deemed value of $50.



On September 6, 2000, the Company implemented a 20:1 forward stock split which was subsequently rescinded on October 17, 2000.



Proposed public offering of common stock



The Company is preparing to commence with a "Blank Check" offering subject to Rule 419 of the Securities Act of 1933, as amended, for 750,000 common shares to be sold at a price of $0.10 per share.

SOLID MANAGEMENT CORPORATION(A Development Stage Company)
NOTES TO THE FINANCIAL STATEMENTS
MARCH 31, 2002





4.	CAPITAL STOCK (cont'd)



Rule 419 requirements



Rule 419 requires that offering proceeds, after deduction for underwriting commissions, underwriting expenses and deal allowances issued, be deposited into an escrow or trust account (the "Deposited Funds" and "Deposited Securities", respectively) governed by an agreement which contains certain terms and provisions specified by the Rule. Under Rule 419, the Deposited Funds and Deposited Securities will be released to the company and to the investors, respectively, only after the company has met the following three basic conditions. First, the company must execute an agreement(s) for an acquisition(s) meeting certain prescribed criteria. Second, the company must file a post-effective amendment to the registration statement that includes the terms of a reconfirmation offer that must contain conditions prescribed by the rules. The post-effective amendment must also contain information regarding the acquisition candidate(s) and its business(es), including audited financial statements. The agreement(s) must include, as a condition precedent to their consummation, a requirement that the number of investors representing 80% of the maximum proceeds must elect to reconfirm their investments. Third, the company must conduct the reconfirmation offer and satisfy all of the prescribed conditions, including the condition that investors representing 80% of the Deposited Funds must elect to remain investors. The post-effective amendment must also include the terms of the reconfirmation offer mandated by Rule 419. The reconfirmation offer must include certain prescribed conditions that must be satisfied before the Deposited Funds and Deposited Securities can be released from escrow. After the company submits a signed representation to the escrow agent that the requirements of Rule 419 have been met and after the acquisition(s) is consummated, the escrow agent can release the Deposited Funds and Deposited Securities. Investors who do not reconfirm their investments will receive the return of a pro-rata portion thereof; and in the event investors representing less than 80% of the Deposited Funds reconfirm their investments, the Deposited Funds will be returned to the investors on a pro-rata basis.



5.	INCOME TAXES



The Company's total deferred tax asset at March 31 is as follows:





|                                               | 2002     | 2001   
|---------------------------------------------- | -------- | -------
|                                               |          |        
|Tax benefit of net operating loss carryforward | $	15,500 | $	5,459
|Valuation allowance                            | (15,500) | (5,459)
|                                               |          |        
|                                               | $	-      | $	-    



The Company has a net operating loss carryforward of approximately $44,000, which if not used, will begin to expire in the year 2019.  The Company has provided a full valuation allowance on the deferred tax asset because of the uncertainty regarding realizability.



SOLID MANAGEMENT CORPORATION(A Development Stage Company)
NOTES TO THE FINANCIAL STATEMENTS
MARCH 31, 2002





6.	RELATED PARTY TRANSACTIONS



The Company does not maintain a checking account and all expenses incurred by the Company are paid by an affiliate.  For the year ended March 31, 2002, the Company accrued $3,300 (2001 - $9,045) and $Nil (2001 - $563) for professional fees and office and miscellaneous expenses and paid $14,151 (2001 - $13,261) in professional fees and $Nil (2001 - $541) of office and miscellaneous expense.  The affiliate does not expect to be repaid for the expenses it pays on behalf of the Company.  Accordingly, as the expenses are paid, they are classified as additional paid-in capital.



7.	SUBSEQUENT EVENT



Subsequent to year end, the Company has undertaken to complete a private placement for 500,000 common shares at a price of $0.10 per share.