U.S. Securities and Exchange Commission

                        Washington, D.C. 20549

                             FORM 10-KSB

(Mark One)
[X]  ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934

   For the fiscal year ended April 30, 2003

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

   For the transition period from ___________________ to ______________

   Commission file number: 333-90618



                    INFOTEC BUSINESS SYSTEMS, INC.
         (Exact name of small business issuer in its charter)



       NEVADA                               98-0358149
 (State or other jurisdiction of   (I.R.S. Employer Identification No.)
 incorporation or organization)


444 Columbia Street E., New Westminster, B.C.           V3L 3W9
(Address of principal executive offices)               (Zip Code)

Issuer's Telephone Number  (604) 777-1707

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

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


   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.

          YES [ X ]  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  registrant's knowledge, in definitive proxy or information  state
ments incorporated by reference in Part III of this Form 10-KSB or any amendment
to this Form 10-KSB.  [ X ]
(The registrant is not a Section 12(g) filing issuer)

State issuer's revenues for its most recent fiscal year:  $ NIL





State  the  aggregate  market value of the voting stock held  by  non-affiliates
computed  by reference to the price at which the stock was sold, or the  average
bid  and  asked prices of such stock, as of a specified date within the past  60
days.

The  aggregate  market value of the common stock held by non-affiliates  of  the
registrant as of the close of business on June 30, 2003 (an aggregate  7,550,000
shares  out  of  a  total of 18,350,000 shares outstanding  at  that  time)  was
approximately $49,500,000 computed by reference to the closing bid price on that
date.

                (APPLICABLE ONLY TO CORPORATE ISSUERS)

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date:  18,350,000 shares of Common Stock as
of June 30, 2003.

This report contains a total of 29 pages.

                 DOCUMENTS INCORPORATED BY REFERENCE

Form  SB-2,  File  No.  333-90618, filed on November 5,  2002,  incorporated  by
reference into Part II Item 6. Management's Discussion and Analysis or  Plan  of
Operations.


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


                                PART I


The  terms  "Infotec", "us", "we", "the company" and "our", refer to  Infotec
Business  Systems,  Inc.  or our wholly owned subsidiaries  Infotec  Business
Solutions,  Inc. and Eventec Inc. unless the context otherwise implies.   All
references to stock issuances and amounts, give effect to a 6:1 forward split
of our capital stock in February  2003.


ITEM 1. DESCRIPTION OF THE BUSINESS.

Forward Looking Statements

This  Annual  Report on Form 10-KSB contains forward-looking statements  that
involve   substantial  risks  and  uncertainties.  You  can  identify   these
statements  by  forward-looking  words  such  as  "may",  "will",   "expect",
"intend",  "anticipate", "believe", "estimate", "continue" and other  similar
words.  You should read statements that contain these words carefully because
they  discuss  our  future  expectations, making projections  of  our  future
results  of  operations or our financial condition or state  other  "forward-
looking"  information.  Forward-looking statements involve known and  unknown
risks  and  uncertainties which may cause the actual results, performance  or
achievements of our Company to be materially different from those  which  may
be  expressed  or  implied by such statements.  The  factors  listed  in  the
section  entitled "Risk Factors" incorporated by reference into  the  section
"Management's Discussion and Analysis or Plan of Operation", as well  as  any
other  cautionary  language  in  this  report,  provide  examples  of  risks,
uncertainties  and events which may cause our actual results to  differ  mate
rially  from the expectations we described in our forward-looking statements.
We  do  not  undertake  any  obligation to  publicly  update  forward-looking
statements  to reflect events or circumstances after the date  on  which  the
statement is made or to reflect the occurrence of unanticipated events.

Organization

We  were  incorporated under the laws of the State of Nevada  on  August  30,
2001,  and  are in the developmental stage.  Effective October  3,  2001,  we
entered into an agreement to acquire the prior development, designs and pilot
implementation of a virtual office system from Danby Technologies Corporation
in  consideration for a purchase price of $60,000 and a royalty  on  our  net
revenues  from  the  system or products or services  which  use  the  system.
Royalties  are determined at the rate of 2% of net revenues until the  amount
paid or payable aggregates $250,000 and thereafter, at the rate of 1%.

In May 2002, we issued Danby Technologies Corporation 7,080,000 common shares
and  a  staff  member 120,000 common shares in settlement  of  the  principal
amount of $60,000 due under the terms of the purchase agreement of October 3,
2001.   Mr.  Danvers, our President, Chief Executive Officer and a  director,
beneficially owns Danby Technologies Corporation.  The virtual office  system
was  one  of  Danby  Technologies Corporation's  development  projects.   Mr.
Danvers has been our sole promotor since inception.

In  October  2001,  we  organized  a wholly-owned  British  Columbia,  Canada
corporation  to  enable  us to conduct our development  and  to  service  the
Canadian market after commercialization of our systems and in April  2003,  a
wholly-owned  Nevada  corporation to develop and market an  event  management
system.

In  February  2003,  we  filed  a Form of Certificate  Change  to  amend  our
Certificate  of Incorporation, to increase our authorized and issued  capital
stock  through a 1 to 6 forward split to 450,000,000 shares of capital  stock
authorized  for  issuance, consisting of 300,000,000 shares of  common  stock
(par value $0.001) and 150,000,000 shares of blank check preferred stock.


Business of Issuer


Our  business plan is to develop and market systems and related products  and
services  that  provide remote access via the Internet to business  processes
such  as  software  applications, data and a firm's business  procedures  and
methods.  We use the general term "virtual business systems" to describe  the
systems  we develop and market.  We plan to market our products and  services
principally  to  businesses in the U.S. and Canada and to earn  revenue  from
monthly services fees, usage and transaction fees, and from consulting.

A virtual business system is essentially a network computer system or server,
similar  to those found in most business offices, which provide the  business
with  software applications, security, network communications and  a  central
data  store.  We use the term "business processes" to describe the functions,
methods  or practices undertaken by a firm to support its business,  such  as
customer relationship management, accounting, human resources, conference and
communication or some other specialized process, applicable only to the  firm
itself.

The  distinguishing  or  differing features of what we  describe  as  virtual
business systems are their management, fee structures and user accessibility.
Instead of a firm purchasing computer hardware and software, establishing and
maintaining its own network computer system, its business process or  systems
are  maintained on our servers, which are established, managed and ready  for
use.  A virtual business system is accessible via the Internet, rentable  and
expandable  when needed.  Virtual business system customers share  a  network
computer  system with other virtual business system customers.   The  virtual
business  system  is  accessed  securely  by  a  firm's  properly  authorized
employees,  advisors  and customers (we refer to these as  "users")  via  the
Internet,  using  an Internet browser from their computer  workstation.   Our
virtual  business systems will generally not require specialized software  to
be  installed  on the computer our customers use to access our  systems.   We
also  refer  to the term "online" in our business description to  indicate  a
service  or business process that is accessible via the Internet, 24 hours  a
day.

The  provision  of  software applications online, either  as  an  application
hosting   service,  ASP  or  a  developer  of  specialized  business  process
applications,  is  gaining  acceptance and a following  among  business,  and
represents, we believe, a strong competitive model to a firm establishing and
maintaining  their  own  software and systems.  We do  not  plan  however  to
compete  with  hosting  service  bureaus or develop  products  that  directly
compete with the major developers and providers of online services.  We  will
focus  our  marketing and development activities toward niche  markets.   Our
approach  is  to provide superior security features and to manage  all  of  a
firm's business processes within our virtual office.  This enables a firm  to
capture   and   maintain  information  centrally  as  it  is  created,   have
interoperability between its business processes and have relevant information
available  to  authorized  persons, in real  time.   We  are  developing  the
productivity applications for our virtual office as outlined below, to enable
us to offer additional business functionality in support of this model.   Our
approach is also to focus on niche applications or business processes, suited
to  our  systems.   In  furtherance  of this  approach,  we  are  in  current
discussions  with industry participants to provide input into our development
and  to use and sell an event management application that will operate within
our system.

Products and Services

We  have developed an online virtual business system that we refer to as  our
virtual  office,  to  provide business users with  a  fully  managed  network
computer  system accessible via the Internet.  We are marketing  our  virtual
office business system with the following capabilities or functionality:

    e-mail, calendar, address book, to-do lists and reminders;
     group calendar and schedule;
     web site;

    data storage and access, document sharing, cut and paste;
    local printing;
    backup and security;
    run user applications ; and
    maintenance and upgrades,

both  as  an  office  environment for business and also  as  a  platform  for
businesses  to  operate their specialized business processes  in  support  of
their  own  product  offerings.   Our virtual business  system  includes  the
ability   to  offer  enhanced  security  through  digital  certificates   and
smartcards  and  our  ability to provide customized development  and  related
services for secure online access and transactional processing.

We  are  also marketing products and services for security and access control
of  web sites and for implementing secure e-mail communication.  We offer our
Internet  security  services  as part of our  virtual  business  systems  and
separately,  under the commguard brand.  We provide digital certificates  for
encryption  of  e-mail  communications and also for  digital  credentials  or
signatures  that  distinctly  identify  the  sender  or  user.   Our  digital
certificates  can also be used to secure online access and  control  for  web
sites  and Internet accessible systems or applications.  Through our  license
with  CTEC  Security  Solutions Inc., a related  company,  we  are  currently
marketing products and services within the United States, under the commguard
brand.   As  a licensee, we provide a full system for enabling customers  and
their  clients to use e-mail encryption and digital signatures that includes:
all  components; service and support; and systems to manage a customers roll-
out and ongoing maintenance of digital identifications.  The commguard secure
e-mail service is billed as a monthly service fee.

Recent Developments

Since  completing  the  development of the virtual  office  platform  in  the
beginning  of  2003,  we  have undertaken activities in  furtherance  of  our
business plan and to develop markets for our products and services.

We introduced the company and our business plan to potential funders and have
actively  pursued  funding  options during this period.   In  June  2003,  we
completed a private placement of 100,000 units at $4.00 per unit.

We  introduced to potential customers and joint venture partners, our virtual
office system and platform and our management and customization services,  as
a  backbone for operating and managing business processes on line, both as  a
virtual  office  and  to  run  a firm's specialized  business  process.   Our
discussions  have  assisted  us in identifying  potential  opportunities  for
running  and  operating  online  security  and  access  control  systems  and
specialized process such as those for managing events online.  In April 2003,
we incorporated Eventec Inc., as a wholly owned subsidiary, to facilitate the
development  and marketing of an event management system in conjunction  with
industry  partners.   We are currently in discussions  with  two  vendors  to
utilize our virtual business system as a base for managing and offering their
specialized services online.  We have however, no commitments from vendors to
use  our virtual business system or our proposed virtual business system  for
managing events or any other business processes online.

We  undertook a review of our systems' access and security controls  and,  to
enhance  our  security  model, we have undertaken a  program  to  incorporate
digital   identifications   and   smartcards   in   our   systems.    Digital
identifications and smartcards provide a high level of assurance and security
to  protect  from  unauthorized access, and from identity spoofing.   In  May
2003,  we  entered  into a licensing agreement with CTEC  Security  Solutions
Inc.,  a related company, to sell their commguard branded access and security
control products and services in the United States.  Through our license with
CTEC, we have a source of supply for our smartcards and smartcard readers  at
competitive market rates.  Since that time, and in conjunction with CTEC,  we
have among other things:

-  developed and printed brochures targeted to the accounting, legal, financial
and  investment management professions;
-  developed an operational Certification Authority for the issuance of digital
certificates, as an application that runs within our business systems;
-  developed initial policies and practices documentation for the operation of
the Certificate Authority and the issuance of digital certificates; and
-     introduced commguard e-mail communication security system to  potential
customers within the legal and accounting communities.


We have also continued our development of the productivity applications modules
and a have undertaken a plan for the incorporation of digital identifications
and smartcards into our virtual business systems.

Our  current objective is to accelerate our marketing efforts for our virtual
business  system  and our e-mail communication security product,  to  develop
business  relationships  and  opportunities and  to  sell  our  products  and
services to customers.  In addition, we also plan to complete development  of
our productivity applications and an event management system as is more fully
described below.

Development Plans

Our business plan calls for ongoing expenditures for product development and for
the development of custom applications for our virtual business systems.   We
also plan to undertake ongoing development to support and enhance our product
and  service offerings.  The following outlines two products or applications,
designed  to  run  in  conjunction with the virtual  office,  which  are  the
principal focus of our current development plan.

(a) Productivity Applications

   Planned  as an integrated application which runs in conjunction  with  the
virtual office or virtual business system to provide the following integrated
business process functionality:

- client and contact management;
-document and resource management;
-task and project management; and
-time, expense tracking and billing.

      We  have  completed  various  initial prototypes  of  the  productivity
applications   and   are  currently  engaged  in  completing   a   commercial
implementation of the productivity applications.

(b)  Event Management Application

      This  application  is  planned to address the  need  for  online  event
management,  which would include online customer ordering,  a  web  presence,
ticket,  data  management and communication functions.   The  application  is
planned  to  integrate with the our virtual business system or alternatively,
be operated as a stand alone online business system.  We are currently in the
process of completing our developing designs and plans for the implementation
of this event management application.

We  have  set  forth estimates of the costs and time frame  to  complete  the
elements  of  our  development  plan under the  section  titled  Management's
Discussion and Analysis or Plan of Operation.

Systems

Our  virtual  business systems are composed of three components,  or  layers,
which  we describe as the hardware and operating system layer, the middleware
layer  and  the  business  processes layer.  We  purchase  or  subscribe  for
operating  system  and  middleware software licenses.  Operating  system  and
middleware software is priced per server with additional fees for each  user.
We  are  able  to acquire these licenses readily without lead  time,  in  the
normal  course of our business.  We develop and implement our online  systems
in  what  we  term  the business processes layer.  There  are  no  additional
licensing  fees  or charges applicable to our own development.   Our  planned
internal  management  information system will also  be  implemented  in  this
layer,  to  provide real-time information on the status of client orders  and
system  usage and to provide automated billing and accounting.   Our  systems
are  currently  installed  on Danby Technologies'  servers  as  part  of  our
services  engagement.   As part of our current upgrade  plan,  we  expect  to
acquire  some  server hardware and software licenses and upgrade  our  system
security.

Intellectual Property

   We  currently  market  our products as the "Infotec Business  System"  and
"Infotec Virtual Office System" although we have not yet applied for  such  a
registered  trademark  and there is no assurances that  such  mark  would  be
available that we would be granted such mark.  We have obtained the right  to
use     the     Internet    domain    names    www.infotecbusinesssystem.com,
infotecbusinessstrategies.com and infoteconlineoffice.com.  We  do  not  have
and cannot acquire any property rights in an Internet address.

To protect our rights to intellectual property, we will rely on a combination
of  trademark,  copyright  law, trade secret protection,  and  confidentially
agreements although we do not have confidentiality agreements signed in every
instance.

Our  products and services incorporate some commercial computer software  and
intellectual  property  owned by others, for which we  are  required  to  pay
licensing fees.

Competition

We  will  compete  with numerous providers of online or  Internet  accessible
business applications and services companies, many of which have far  greater
financial  and  other  resources than we do.  Many of  these  companies  have
established  histories and relationships in providing online applications  or
systems  that enable them to attract talent, marketing support, the  interest
of  decision  makers and financing.  Moreover, proven track  records  are  of
paramount consideration in selecting vendors.

We  plan  to compete, through the development of an integrated, fully managed
virtual  office,  as well as through a focus on specialized business  service
opportunities.    We  also plan to market our products and  services  through
channel partners and resellers.

While  our  management  team has significant business experience,  we,  as  a
company, have no proven track record in the online services industry.  We can
provide  no assurance that we will be able to successfully market our systems
or compete within this industry.

Government Regulations

Due to the increasing popularity and use of the Internet, it is possible that
a  number of laws and regulations may be adopted with respect to the Internet
generally, covering issues such as user privacy, pricing, and characteristics
and  quality of products and services.  Similarly, the growth and development
of  the  market  for  Internet commerce may prompt calls for  more  stringent
consumer  protection  laws  that  may  impose  additional  burdens  on  those
companies  conducting business over the Internet.  The adoption of  any  such
laws  or  regulations may decrease the growth of commerce over the  Internet,
increase our cost of doing business or otherwise have a harmful effect on our
business.

Currently, governmental regulations have not materially restricted the use or
expansion of the Internet. However, the legal and regulatory environment that
pertains  to the Internet is uncertain and may change. New and existing  laws
may cover issues that include:

*     Sales and other taxes;
*     User privacy;
*     Pricing controls;
*     Characteristics and quality of products and services;
*     Consumer protection;
*     Cross-border commerce;
*     Libel and defamation;
*     Copyright, trademark and patent infringement; and
*     Other claims based on the nature and content of Internet materials.

These  new  laws  may  impact our ability to develop and market  our  virtual
business systems in accordance with our business plan.

We  may  have to qualify some of our products and services to do business  in
other  jurisdictions.  If we commence revenue activities, we anticipate  that
our sales and our customers will be in multiple states and foreign countries.
As  our customers may be resident in such states and foreign countries,  such
jurisdictions may claim that we are required to qualify to do business  as  a
foreign  company in each such state and foreign country.  Failure to  qualify
as  a  foreign company in a jurisdiction where required, could subject us  to
fines, penalties or other prosecutions.

Research and Development Expenditures

We  have  spent $88,308 on expenses associated with the acquisition of  prior
development costs and our development activities since inception.  We plan to
expend  in  the  next  12  month  period approximately  $62,000  on  expenses
associated with the development of our proposed products and services.

We  expect to continue to develop our virtual business systems and expect  to
devote  a  significant  proportion  of our  revenues  and  capital  funds  to
developing  enhancements  to our systems and to maintaining  our  competitive
positioning.

Environmental Regulations

We  are  not aware of any environmental laws that will be applicable  to  the
operation of our business.

Employees

We  currently  have no full-time employees; we have one full time  contractor
and we engage three part-time contractors.  Mr. Robert Danvers, our President
and  Chief  Executive Officer is a full time contractor.  Danby  Technologies
provides  two  of  our  part-time  contract  position.   CTEC  provides   our
additional part-time contractor.  As prospects and circumstances warrant,  we
will  engage  additional  full-time  and  part-time  employees,  as  well  as
consultants, to perform required services.


ITEM 2. DESCRIPTION OF PROPERTY.


We  do  not own or lease any real property.  Our principal executive  offices
and our subsidiary's development facilities are located in property leased by
Danby  Technologies Corporation, a company controlled by Mr. Robert  Danvers,
our  President  and a director.  These offices are located  at  444  Columbia
Street  E., New Westminster, B.C.  V3L 3W9.  We pay $1,500 per month for  our
office  rent  at  this  location under a month to month agreement,  renewable
automatically unless cancelled by either party on 30 days written notice.


ITEM 3. LEGAL PROCEEDINGS.


  We  are  not  currently  a party to any material  litigation,  nor  to  the
knowledge  of  management,  is there any material  litigation  threatened  or
contemplated against us.


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


No  matter  was submitted during the fourth quarter of our fiscal year  to  a
vote of security holders through the solicitation of proxies or otherwise.


                               PART II

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.


      Infotec's   common  stock  is  traded  over-the-counter  on   the   OTC
Electronic Bulletin Board under the symbol "IFOB".  The following table  sets
forth the high and the low bid quotations for the common stock for the period
from  inception  of  trading in February 2003 through April  30,  2003.   The
closing bid on June 30, 2003 is also shown.  These quotations reflect  inter-
dealer  prices, without retail mark-up, mark-down or commissions and may  not
represent actual transactions.


      Period                                 High     Low

      4th Quarter
      February 4, 2003 - April 30, 2003     $2.50    $0.01


      On June 30, 2003, the closing bid price for the common stock was $6.65

There are approximately 100 holders of record of our common stock.

Dividends

There  are  no restrictions in our articles of incorporation or  bylaws  that
prevent  us from declaring dividends.  The Nevada Revised Statutes,  however,
do  prohibit  us from declaring dividends where, after giving effect  to  the
distribution of the dividend:

1. we would not be able to pay our debts as they become due in the usual course
of business; or

2. our total assets would be less than the sum of our total liabilities plus the
amount  that would be needed to satisfy the rights of stockholders  who  have
preferential rights superior to those receiving the distribution.

We have not declared any dividends, and we do not plan to declare any dividends
in the foreseeable future.

Penny Stock Rules

The SEC has adopted regulations which generally define a "penny stock" to be any
equity security that has a market price of less than $5.00 per share, subject
to  certain  exceptions.  Depending on market fluctuations, our common  stock
could be considered a "penny stock".  As a result, it may be subject to rules
that impose additional sales practice requirements on broker/dealers who sell
these  securities to persons other than established customers and  accredited
investors.   For transactions covered by these rules, the broker-dealer  must
make  a special suitability determination for the purchase of our securities.
In   addition  he  must  receive  the  purchaser's  written  consent  to  the
transaction  prior  to  the purchase.  He must also provide  certain  written
disclosures  to  the purchaser.  Consequently, the "penny  stock"  rules  may
restrict  the  ability  of  broker/dealers to sell our  securities,  and  may
negatively affect the ability of holders of our shares to resell them.

Recent sales of Unregistered Securities

On June 16, 2003, we completed an offering of 100,000 units at a price of $4.00
per  unit  to  one accredited investor, for a total of $400,000.   Each  unit
consists  of  one  share  of  common stock and  one  share  purchase  warrant
exercisable  at  $4.50 per share during the initial six  months,  and  at  an
exercise  price  of $5.50 for the final six month period.  We  completed  the
offering  in  a  private  transaction  exempt  from  registration  under  the
Securities  Act of 1933 in reliance on Section 4(2) of the act.   No  general
solicitation or advertising was used in connection with this transaction, and
the  certificates evidencing the shares that were issued contained  a  legend
restricting  their transferability absent registration under  the  Securities
Act  or the availability of an applicable exemption therefrom.  The purchaser
represented his intention to acquire the securities for investment  only  and
not  with  a  view  toward distribution or resale except in  compliance  with
applicable  securities  laws.  The purchaser was  given  adequate  access  to
sufficient information about us to make an informed investment decision.   We
had  reasonable  grounds  to  believe that the purchaser  was  an  accredited
investor,  as  defined by Rule 501 of Regulation D.  None of  the  securities
were  sold through an underwriter and accordingly, there were no underwriting
discounts  or  commissions  involved.  The subscription  agreement  precluded
transfer  except  under  the above conditions.  No registration  rights  were
granted to the purchaser.


ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.


Other than historical and factual statements, the matters and items discussed in
this annual report on Form 10-KSB are forward-looking statements that involve
risks and uncertainties.  Actual results of the Company may differ materially
from  the  results  discussed  in  the forward-looking  statements.   Certain
factors  that  could  contribute to such differences are discussed  with  the
forward-looking statements throughout this report.

The following discussion should be read together with the information contained
in  the  financial  statements and related notes included elsewhere  in  this
annual report.

General

Our discussion and analysis of our financial condition and results of operations
are  based  upon  our  consolidated financial  statements,  which  have  been
prepared in accordance with accounting principles generally accepted  in  the
United States.  The preparation of these financial statements requires us  to
make  estimates  and  judgments that affect the reported amounts  of  assets,
liabilities,  revenues  and expenses, and related  disclosure  of  contingent
assets  and  liabilities.  On an on-going basis, we evaluate these estimates,
including   those   related  to  software  development  expenses,   financing
operations  and  contingencies and litigation.  We base  these  estimates  on
historical  experience and on various other assumptions that are believed  to
be  reasonable under the circumstances, the results of which form  the  basis
for making judgments about the carrying values of assets and liabilities that
are  not readily apparent from other sources.  Actual results may differ from
these estimates under different assumptions or conditions.

Financial Reporting Release No. 60, which was recently released by  the  SEC,
requires  all  companies  to  include  a discussion  of  critical  accounting
policies or methods used in the preparation of financial statements.  Note  2
to  our  consolidated  financial statements includes a  summary  of  the  sig
nificant  accounting  policies and methods used in  the  preparation  of  our
financial  statements.   We  believe that the following  critical  accounting
policies  affect  our more significant judgments and estimates  used  in  the
preparation of our consolidated financial statements.

Software  development costs are expensed as incurred unless  the  development
project  meets the criteria under United States generally accepted accounting
principles for capitalization.  Capitalization of software development  costs
begins  upon  the establishment of technological feasibility and ceases  when
the product is available for general release.  The company has no capitalized
software development costs at April 30, 2003.

Operation Development and Plan

We are a development stage company.  We have undertaken initial marketing of our
products  and  services,  however, we have not  as  yet  engaged  in  revenue
producing  activities.   Our  business plan is to develop  and  commercialize
systems  that  provide remote access to business processes via the  Internet.
We  plan  to  market our products and service to businesses in the  U.S.  and
Canada  and  to earn revenue from monthly service fees, usage and transaction
fees  and  from  consulting.  In furtherance of our business  plan,  we  have
undertaken the following since our incorporation in August 2001 (For  a  more
detailed   discussion  of  our  recent  activities,  please  refer  to"Recent
Developments" in the section "Description of Business"):

We  acquired the prior development, designs and pilot implementation  of  the
virtual office system in October 2001 from Danby Technologies Corporation,  a
company  owned by Robert Danvers.  Danby Technologies developed the  original
design  and implementation methodology for the virtual office and a pilot  or
test  implementation of the virtual office over the period  of  approximately
two years from the Fall of 1999 through to our acquisition in October, 2001.

In  October  2001,  we  organized  a wholly-owned  British  Columbia,  Canada
corporation  to  enable  us to conduct our development  and  to  service  the
Canadian  market  after commercialization of our virtual  office  system  and
engaged  Danby  Technologies  Corporation to  provide  office  space  and  an
Internet  accessible server-based system for us to continue  development  and
testing.  The pilot of the virtual office is installed on Danby Technologies'
servers.

Since  the October 2001 acquisition, we continued to progress our development
plan  focusing on additional testing of the pilot implementation  in  a  live
business  environment  with  multiple users and the  development  of  updated
designs  for  a commercial version of the virtual office system.   Since  the
commencement of the fiscal year ended April 30, 2003, we upgraded  our  pilot
system  to  incorporate  new  software  and  our  updated  designs  and  have
undertaken internal testing with related parties.  This work provided us with
a  stable  infrastructure for the virtual office and better  segregation  and
privacy  of  our customers' data and business operations.  We also  continued
development  of our productivity applications using alternate approaches  for
implementing our designs.

In  April 2003, we organized a wholly-owned Nevada corporation to develop and
market our planned event management system.

In May 2003, we entered into an agreement with CTEC Security Solutions Inc., a
company of which Mr. Danvers is a director, officer and minority shareholder,
and its subsidiary CommGuard Inc., to license their business applications and
products  and  services  related to online access and Internet  communication
security, for sale within the United States.

Our current plan of operations includes an expanded marketing effort as well as
our  product development activities.  Our objective is to successfully market
our  existing products and services and to complete development of additional
products and services which will meet and address a business need.

Marketing

During the early plase of our plan, we expect to continue to develop awareness
of  our  virtual business sytem as a platform for the deployment of  business
applications over the Internet through direct contact, trades conferences and
online.   We have currently identified opportunities with security monitoring
and  access  control  firms and firms who manage events.   We  will  actively
pursue  these  opportunities  as  well as  developing  customer  and  channel
relationships  and  new  sales opportunities.   We  are  in  the  process  of
developing  our web site and additional marketing materials for  the  virtual
business  system.   We  expect  input from  our  discussions  with  potential
customers  and  channel  partners to assist us  in  directing  our  marketing
efforts.

We will also continue introduction of our e-mail communication security services
and  the development of brand and product awareness.  We have identified  the
accounting,  legal and the financial professions as initial  focuses  of  our
marketing  of this product.  We intend to develop business relationships  and
channel   partnerships  as  well  as  develop  relationships  with   industry
associations  and  professional bodies.  In conjunction with  CTEC,  we  have
plans  to attend two conferences where we will have the opportunity  to  show
the commguard products and services to the legal community in Canada.

We currently have insufficient staff to undertake all aspects of our marketing
efforts.  We expect to hire or engage marketing and sales consultants and  to
additionally  seek opportunities for marketing through channel  partners  and
resellers.   We  expect  to  add one service and support  technician  as  our
support and service obligations increase.

Development

We  plan  to accelerate our current development activities and to maintain  a
strong  development focus to support our business opportunities.  Our current
development plans include:

(i)  complete development of the productivity applications; and

(ii) complete designs and implementation for the event management system.

The  productivity application is designed for use with the virtual office  to
provide  a  unified base for contact, task, communication, and  resource  and
document  management.   We estimate that this application will  be  available
for customer testing and input in our second quarter.

The event management system is designed around the needs of operators of events
and  will include online ticket and merchandise sales, provide the firm  with
Internet  access  to manage and view information and update their  offerings.
We  are  in  the  design stage of this application and expect to  proceed  to
development activities in the second quarter and to testing and operating our
implementation  in  the  third  quarter.  Progress  in  development  of  this
application  is  dependant  on  our  completing  discussions  with   industry
participants  who  can provide input into our designs and assist  with  intro
ducing the system to potential customers.

In  addition  we  plan to maintain an ongoing development program  that  will
continue  enhancing and upgrading our systems, developing  new  products  and
services  and  providing support for our product and service offerings.   Our
development  staff  are  also  responsible  for  our  system  operation   and
maintenance   responsibilities  and  for  providing  our  custom  development
services.   We  have  budgeted  approximately  $62,000  for  our  development
activities over the next six month period and $20,000 for computer  equipment
and  software.  Further additions to our budget are dependant on the  receipt
of adequate additional funding.

To  accomplish  our development objectives, we will need to  hire  additional
employees  or  contractors.  Our current plan is to rely  on  increasing  our
three  part-time technical consultants' work hours, which we believe will  be
satisfactory  to  accomplish our development through the end  of  the  second
quarter.   We  believe we can engage additional consultants  and  subcontract
development staff with the required skills, as they may be needed.

Results of Operations

We have not yet engaged in any revenue-producing activities, nor are we a party
to  any binding agreements that will generate revenues.  For the period  from
incorporation, August 30, 2001 through April 30, 2003, we incurred a  deficit
of  $172,675.  Our principal areas of expenditure during the period were  for
development  costs  of $88,308, rent and occupancy costs of  $28,500,  system
rental of $28,308 and professional fees of $16,209.

For  the  year ended April 30, 2003, we incurred a net loss of $80,237.   Our
principal areas of expenditure during the year ended April 30, 2003 were  for
occupancy  costs of $18,000, system rental of $18,000, development  costs  of
$18,000  and professional fees of $16,209.  Professional fees and office  and
miscellaneous  expenses  were higher due to our increased  general  operation
activities  and  the  costs of professional assistance  with  our  regulatory
filings.  Occupancy, system rental and technical subcontract costs increased,
reflecting a twelve month inclusion for the year compared to the seven  month
inclusion in the prior year.

Liquidity and Capital Resources

As of April 30, 2003, we had an accumulated deficit of $172,675 and cash in the
bank  of  $3,818.   We had a working capital deficit at  April  30,  2003  of
$45,675.  The deficit was funded during the period from incorporation through
April 30, 2003 principally by proceeds from the issuance of common shares  of
$67,000,  conversion of indebtedness to common shares of $60,000 and accounts
payable, and amounts from related parties of $47,708.

For  the year ended April 30, 2003, net cash used in operating activities was
$58,248, which primarily resulted from the net loss of $80,237 combined  with
changes   in  working  capital  amounts.   Net  cash  provided  by  investing
activities  was  $60,000  resulting from  net  proceeds  from  sales  of  our
investments.   Non-cash  conversion  of indebtedness  to  common  shares  was
$60,000.

We  have incurred net losses each year since inception and have relied on the
sale  of our stock from time to time and terms from related suppliers to fund
our  operations.  In October 2001, we completed a sale of 12,600,000  of  our
common  shares  for net proceeds of $7,000.  In May 2002,  we  completed  the
conversion of $60,000 of debt into 7,200,000 shares of our common  stock  and
completed the sale of 7,200,000 shares of our common stock through a  private
placement,  with  net  proceeds of $60,000.  Furthermore,  in  June  2003  we
completed  the sale of an additional 100,000 shares of our common stock  with
net  proceeds  of  $400,000,  for  a total  of   $527,000  of  funding  since
inception.

Management believes that our working capital will be sufficient to sustain our
current  planned  operations  for  a  period  of  twelve  months  and,  while
management believes that sales and ultimately profitable operations,  can  be
attained in the future, there is no assurance that sales will be made or that
if  made,  they will be of a level required to generate profitable operations
to provide positive cash flow.  Management has a desire to expand our planned
marketing and development activities during this period to more fully exploit
market  opportunities.   Expanding our marketing and  development  activities
would require additional funding.  We are unable to predict at this time  the
exact  amount of any additional working capital we will require to  fund  the
implementation  of  our  business plan and achieve cash  flow  sufficient  to
sustain  operations  and  achieve profitability.  We may  receive  additional
capital  from  the exercise of share purchase warrants or, alternatively,  we
may  seek  additional  capital in the private and/or  public  equity  markets
through  the  sale of equity or debt securities, or through the  issuance  of
debt  instruments.  If we receive additional funds through  the  issuance  of
equity   securities,  however,  our  existing  stockholders  may   experience
significant  dilution.  If we issue new securities, they may contain  certain
rights,  preferences  or privileges that are senior to those  of  our  common
stock.   Moreover, we may not be successful in obtaining additional financing
when  needed  or  on  terms favorable to our stockholders.   As  we  have  no
commitments  from  any  third parties to provide additional  equity  or  debt
funding,  we  cannot  provide any assurance that we  will  be  successful  in
attaining such additional funding.

We have commenced initial marketing of our products and services, however, we
have  not  yet  generated any revenues, nor are we a  party  to  any  binding
agreements  that  will  generate revenues.   Due  to  our  lack  of  revenue-
production  to  date,  and  our lack of contractual commitments  to  generate
revenue,  there  is no basis at this time for investors to make  an  informed
determination  as to the prospects for our future success.  For  this  reason
and,  as  we  have not achieved profitable operations and require  additional
capital to achieve our objectives, our auditors have included in their report
covering our financial statements for the period from incorporation to  April
30, 2003, that there is substantial doubt about our ability to continue as  a
going concern.

Product Research and Development

We  anticipate spending $62,000 over the next twelve month period for product
development to: complete development of productivity applications  and  event
management   system;   and  complete  our  infrastructure   development   and
incorporation  of  digital certificates and smartcards in  our  products  and
services.

Property or Plant

To complete our infrastructure for commercial operations, we estimate software
licensing  costs  and  the cost for equipment and related  expenses  will  be
approximately  $20,000.  With adequate additional funding, we would  increase
this budget by $60,000.

Except  as  noted  above,  we do not expect to purchase  or  sell  plant  and
significant equipment in the next twelve months.

Employment

We  expect our operations to grow to four employees and contractors from  our
current  level of one full-time and three part-time contractors.  The  number
and  positions  of  any new employees and contractors will be  determined  by
additional funding, if obtained.


ITEM 7. FINANCIAL STATEMENTS.


Page


Annual Audited Financial Statements

Independent Auditors' Report                             F-2

Consolidated Financial Statements

Consolidated Balance Sheets                              F-3

Consolidated Statements of Operations                    F-4

Consolidated Statements of Cash Flows                    F-5

Consolidated Statement of Stockholders' Deficiency       F-6

Notes to the Consolidated Financial Statements           F-7 - F-11






                      INFOTEC BUSINESS SYSTEMS, INC.
                       (A Development Stage Company)


                     CONSOLIDATED FINANCIAL STATEMENTS


                          APRIL 30, 2003 AND 2002
                         (Stated in U.S. Dollars)


                       INDEPENDENT AUDITORS' REPORT




To the Shareholders of
Infotec Business Systems, Inc.
(A development stage company)

We  have  audited  the  consolidated balance  sheets  of  Infotec  Business
Systems, Inc. (a development stage company) as at April 30, 2003 and  2002,
and   the   consolidated  statements  of  operations,   cash   flows,   and
stockholders'  deficiency for the year ended April 30, 2003,  and  for  the
period  from August 30, 2001 (date of inception) to April 30, 2002.   These
consolidated  financial statements are the responsibility of the  Company's
management.   Our  responsibility  is  to  express  an  opinion  on   these
consolidated financial statements based on our audits.

We conducted our audits in accordance with United States generally accepted
auditing  standards. Those standards require that we plan  and  perform  an
audit  to obtain reasonable assurance whether the financial statements  are
free  of  material misstatement.  An audit includes examining,  on  a  test
basis,  evidence  supporting the amounts and disclosures in  the  financial
statements.   An  audit  also includes assessing the accounting  principles
used  and  significant estimates made by management, as well as  evaluating
the  overall financial statement presentation.  We believe that  our  audit
provides a reasonable basis for our opinion.

In  our opinion, these consolidated financial statements present fairly, in
all  material respects, the financial position of the Company as  at  April
30, 2003 and 2002, and the results of its operations and cash flows for the
year ended April 30, 2003, and for the period from August 30, 2001 (date of
inception)  to  April 30, 2002 in conformity with United  States  generally
accepted accounting principles.

The  accompanying  consolidated  financial statements  have  been  prepared
assuming  that the Company will continue as a going concern.  As  discussed
in  Note 1(c) to the financial statements, the Company incurred a net  loss
of  $172,675 since inception, has not attained profitable operations and is
dependent  upon  obtaining  adequate financing to  fulfil  its  development
activities.  These factors raise substantial doubt that the Company will be
able to continue as a going concern.  Management's plans in regard to these
matters  are  also  discussed in Note 1(c).  These  consolidated  financial
statements  do  not  include any adjustments that  might  result  from  the
outcome of this uncertainty.




Vancouver, B.C.                                   "Morgan & Company"

June 24, 2003                               Chartered Accountants

                      INFOTEC BUSINESS SYSTEMS, INC.
                       (A Development Stage Company)

                        CONSOLIDATED BALANCE SHEETS
                         (Stated in U.S. Dollars)



                                                     APRIL 30
                                                 2003      2002

ASSETS

Current
Cash                                           $ 3,818   $ 2,066
Amounts receivable                                 757     2,094
Prepaid expenses                                   -         633

                                               $ 4,575   $ 4,793

LIABILITIES

Current
Accounts payable - related company            $ 47,708  $ 90,227
Accounts payable - other                         2,542         4
                                                50,250    90,231

STOCKHOLDERS' DEFICIENCY

Capital Stock (Note 3)
Authorized:
300,000,000 common shares, par value  $0.001
per share
150,000,000  preferred  shares,  par   value
$0.001 per share

Issued and outstanding:
27,000,000 common shares at April  30,  2003
and
12,600,000 common shares at April 30, 2002      27,000    12,600

Additional paid-in capital                     100,000    (5,600)


Deficit  Accumulated During The  Development  (172,675)  (92,439)
Stage
                                               (45,675)  (85,438)


                                               $ 4,575   $ 4,793

Nature Of Operations (Note 1)







                      INFOTEC BUSINESS SYSTEMS, INC.
                       (A Development Stage Company)

                   CONSOLIDATED STATEMENTS OF OPERATIONS
                         (Stated in U.S. Dollars)



                                             PERIOD     PERIOD
                                              FROM       FROM
                                            DATE OF     DATE OF
                                           INCEPTION   INCEPTION
                                  YEAR     AUGUST 30   AUGUST 30
                                 ENDED      2001 TO     2001 TO
                                APRIL 30    APRIL 30   APRIL 30
                                  2003        2002       2003

Expenses
Office and miscellaneous       $ 10,028    $ 1,322     $ 11,350
Professional fees                16,209      -           16,209
Rent and occupancy               18,000      10,500      28,500
Equipment rental                 18,000      10,308      28,308
Software development costs       18,000      70,308      88,308

Loss For The Period           $ (80,237)  $ (92,438)  $(172,675)



Basic  And Diluted  Loss  Per  $ (0.01)    $ (0.01)
Share


Weighted Average Number Of
Shares Outstanding               26,506,849  10,474,074







                      INFOTEC BUSINESS SYSTEMS, INC.
                       (A Development Stage Company)

                   CONSOLIDATED STATEMENTS OF CASH FLOWS
                         (Stated in U.S. Dollars)



                                             PERIOD     PERIOD
                                              FROM       FROM
                                             DATE OF    DATE OF
                                            INCEPTION  INCEPTION
                                     YEAR   AUGUST 30  AUGUST 30
                                    ENDED    2001 TO    2001 TO
                                    APRIL   APRIL 30   APRIL 30
                                      30
                                     2003     2002       2003

Cash    Flows   From    Operating
Activities
Loss for the period                $(80,237)$(92,438) $ (172,675)


Changes in non-cash working
capital balances related to
operations:
Prepaid expenses                       633      (633)      -
Amounts receivable                   1,337    (2,094)       (757)
Accounts   payable   -    related   17,481    90,227     107,708
company
Accounts payable - other             2,538         4       2,542
                                   (58,248)   (4,934)    (63,182)


Cash    Flows   From    Financing
Activity
Issuance of share capital           60,000     7,000      67,000

Increase In Cash During The Year     1,752     2,066       3,818

Cash, Beginning Of Year              2,066        -          -

Cash, End Of Year                  $ 3,818   $ 2,066     $ 3,818


Supplementary Non-Cash  Financing
Activity
Shares issued for settlement of
accounts payable                  $ 60,000      $ -     $ 60,000





                      INFOTEC BUSINESS SYSTEMS, INC.
                       (A Development Stage Company)

            CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIENCY

                              APRIL 30, 2003
                         (Stated in U.S. Dollars)



                                                  DEFICIT
                        COMMON STOCK             ACCUMULATED
                                      ADDITIONAL   DURING
                                                   THE
                                        PAID-IN  DEVELOPMENT
                      SHARES   AMOUNT   CAPITAL    STAGE     TOTAL

October, 2002 -
Issued for cash      2100000  $ 2,100  $4,900   $ -        $ 7,000

Net  loss  for  the  -           -       -        (92,438) (92,438)
period

Balance, April  30,  2100000    2,100   4,900     (92,438) (85,438)
2002

May, 2002 - Issued
for settlement of
accounts payable     1,200,000  1,200   58,800      -       60,000

May, 2002 - Issued   1,200,000  1,200   58,800      -       60,000
for cash
February, 2003 -
Forward stock split  22,500,000 22,500 (22,500)     -          -
(1:6)
Net  loss  for  the  -           -       -        (80,237) (80,237)
period

Balance, April  30,  27,000,000 27,000 $100,000  $(172,675)$(45,675)
2003





                      INFOTEC BUSINESS SYSTEMS, INC.
                       (A Development Stage Company)

                NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                          APRIL 30, 2003 AND 2002
                         (Stated in U.S. Dollars)



1.NATURE OF OPERATIONS

  a)Organization

     The  Company was incorporated in the State of Nevada, U.S.A. on August
     30,  2001.  The  Company's wholly owned subsidiaries Infotec  Business
     Strategies,  Inc. was incorporated under the laws of the  Province  of
     British  Columbia on October 1, 2001 and Eventec Inc. was incorporated
     under the laws of Nevada on April 25, 2003.  On February 28, 2003, the
     Board  of  Directors  authorized a 1:6  forward  stock  split  of  the
     Company's  $0.001  par value common shares and its  $0.001  par  value
     preferred  shares.   As  a result of the split, 22,500,000  additional
     common  shares were issued and additional paid-in capital was  reduced
     by  $22,500.  All references in the accompanying financial  statements
     to the number of common and preferred shares and per-share amounts for
     2002 have been restated to reflect the stock split.

  b)Development Stage Activities

     The  Company  is  engaged  in the development of  internet  accessible
     ("online")  systems for conducting business processes  in  real  time.
     The  development is currently focused on a "virtual office" system for
     small  and  medium businesses which provides remote users with  access
     via  a  web  browser  to their software applications,  corporate  data
     storage  and  integrated business applications for contact management,
     time and project management, and client management.

     The  Company is in the development stage; therefore, recovery  of  its
     assets  is  dependent  upon future events, the  outcome  of  which  is
     indeterminable.   In  addition,  successful  completion   of   Infotec
     Business  Systems,  Inc.'s  development program  and  its  transition,
     ultimately  to  the attainment of profitable operations  is  dependent
     upon obtaining adequate financing to fulfil its development activities
     and achieve a level of sales adequate to support its cost structure.

  c)Going Concern

     The  Company will need additional working capital to be successful  in
     its   planned  development  activities  and  to  service  its  current
     liabilities for the coming year, and, therefore, continuation  of  the
     Company  as a going concern is dependent upon obtaining the additional
     working capital necessary to accomplish its objective.  Management has
     developed   a  strategy,  which  it  believes  will  accomplish   this
     objective,  and  is  presently engaged in seeking various  sources  of
     additional working capital including equity funding through a  private
     placement and long term financing.


                      INFOTEC BUSINESS SYSTEMS, INC.
                       (A Development Stage Company)

                NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                          APRIL 30, 2003 AND 2002
                         (Stated in U.S. Dollars)



2.SIGNIFICANT ACCOUNTING POLICIES

  The  consolidated financial statements of the Company has  been  prepared
  in  accordance  with  generally  accepted accounting  principles  in  the
  United  States.   Because  a precise determination  of  many  assets  and
  liabilities   is  dependent  upon  future  events,  the  preparation   of
  consolidated  financial statements for a period necessarily involves  the
  use of estimates which have been made using careful judgement.

  The  consolidated  financial statements have,  in  management's  opinion,
  been  properly  prepared  within reasonable limits  of  materiality,  and
  within  the  framework of the significant accounting policies  summarized
  below:

  a)Consolidation

     These  consolidated financial statements include the accounts  of  the
     Company   and   its   wholly  owned  subsidiaries,  Infotec   Business
     Strategies, Inc. and Eventec Inc.

  b)Software Development Costs

     Software  development costs are charged to expense as incurred  unless
     the  development  project  meets  the  criteria  under  United  States
     generally   accepted   accounting   principles   for   capitalization.
     Capitalization   of  software  development  costs  begins   upon   the
     establishment of technological feasibility and ceases when the product
     is  available  for  general release.  The Company has  no  capitalized
     software development costs at April 30, 2003.

  c)Development Stage Company

     The  Company  is  a  development  stage  company  as  defined  in  the
     Statements  of Financial Accounting Standards No. 7.  The  Company  is
     devoting substantially all of its present efforts to establish  a  new
     business  and none of its planned principal operations have commenced.
     All losses accumulated since inception have been considered as part of
     the Company's development stage activities.

  d)Income Taxes

     The  Company  has adopted Statement of Financial Accounting  Standards
     No.  109  -  "Accounting For Income Taxes" (SFAS 109).  This  standard
     requires  the  use  of an asset and liability approach  for  financial
     accounting  and reporting on income taxes.  If it is more likely  than
     not  that  some portion, or all if a deferred tax asset, will  not  be
     realized, a valuation allowance is recognized.
                      INFOTEC BUSINESS SYSTEMS, INC.
                       (A Development Stage Company)

                NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                          APRIL 30, 2003 AND 2002
                         (Stated in U.S. Dollars)



2.SIGNIFICANT ACCOUNTING POLICIES (Continued)

  e)Foreign Currency Translation

     The   operations   of  the  Company's  subsidiary,  Infotec   Business
     Strategies,  Inc.,  are  located in New Westminster,  Canada  and  its
     functional   currency  is  the  Canadian  dollar.   The   consolidated
     financial  statements have been translated using  the  current  method
     whereby  the  assets and liabilities are translated at  the  year  end
     exchange  rate, capital accounts at the historical exchange rate,  and
     revenues and expenses at the average exchange rate for the period.

  f)Financial Instruments

     The   Company's   financial  instruments  consist  of  cash,   amounts
     receivable, prepaid expenses and accounts payable.

     Unless  otherwise noted, it is management's opinion that this  Company
     is  not  exposed to significant interest or credit risks arising  from
     these  financial  instruments.   The fair  value  of  these  financial
     instruments approximate their carrying values, unless otherwise noted.

  g)Basic and Diluted Loss Per Share

     The Company computes loss per share in accordance with SFAS No. 128  -
     "Earnings  Per  Share".  Under the provisions of SFAS No.  128,  basic
     loss per share is computed using the weighted average number of common
     stock  outstanding  during the periods.  Diluted  loss  per  share  is
     computed  using the weighted average number of common and  potentially
     dilutive  common stock outstanding during the period.  As the  Company
     generated  net losses in the period presented, the basic  and  diluted
     loss  per  share  is the same as any exercise of options  or  warrants
     would be anti-dilutive.


3.CAPITAL STOCK

  a)During  the  year, the Company entered into a debt settlement agreement
     whereby  it settled the $60,000 arising from the purchase of  software
     development  costs  by the issuance of 1,200,000 common  shares  at  a
     price of $0.05 per share.

  b)During  the  year,  the  Company  completed  a  private  placement   of
     1,200,000  common shares at $0.05 per share, resulting in proceeds  to
     the Company of $60,000.


                      INFOTEC BUSINESS SYSTEMS, INC.
                       (A Development Stage Company)

                NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                          APRIL 30, 2003 AND 2002
                         (Stated in U.S. Dollars)



4.COMMITMENT

  Pursuant  to  a  purchase agreement dated October 3,  2001,  the  Company
  acquired  computer  software development costs for the  consideration  of
  $60,000,  and a royalty of 2% on the net sales revenue of any product  or
  service  that  uses all or any portion of the software until  the  amount
  paid  totals $250,000, after which the royalty drops to 1%.  The  royalty
  is  payable quarterly following the first commercial sale of products  or
  services.

  The  software  development costs were acquired  from  Danby  Technologies
  Corporation  ("Danby"), a company controlled by a  majority  shareholder,
  and was recorded at Danby's historical cost base as at April 30, 2002.


5.RELATED PARTY TRANSACTIONS

  During  the  year,  the  Company entered into transactions  (recorded  at
  exchange values) with related parties as follows:

  i)The  Company engages Danby Technologies Corporation to provide a shared
     internet  enabled  network system for deploying and  testing,  and  to
     provide  professional staff to maintain implementation  and  undertake
     development.

  ii)     The  Company  rents  its office premise from  Danby  Technologies
     Corporation at the rate of $1,500 per month on a month to month basis.

                                                 2003     2002

 Equipment rental                            $ 18,000  $10,308

 Software development costs                    18,000   10,308

 Rent and occupancy                            18,000   10,500


                                             $ 54,000  $31,116


                      INFOTEC BUSINESS SYSTEMS, INC.
                       (A Development Stage Company)

                NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                          APRIL 30, 2003 AND 2002
                         (Stated in U.S. Dollars)



6.SUBSEQUENT EVENTS

  On  June  3,  2003, the Company completed a private placement of  100,000
  units at $4.00 per unit for proceeds of $400,000.  Each unit consists  of
  one  common  share and one common share purchase warrant  exercisable  at
  $4.50  per share during the initial six months, and at an exercise  price
  of  $5.50  for  the  final six month period.  In  addition,  the  Company
  issued  25,000 share purchase warrants entitling the holder  to  purchase
  25,000  common shares at a price of $4.50 per share on or before December
  14, 2003, and at a price of $5.00 per share on or before June 13, 2004.

  In  conjunction with the above private placement, certain  directors  and
  stockholders   of   the  Company  agreed  to  return  to   treasury   for
  cancellation a total of 8,750,000 common shares.






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


None


   PART III


ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS;
COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT.

The  following  table sets forth the names, positions and  the  ages  of  our
directors  and  executive  officers.  Directors are  elected  at  our  annual
meeting  of stockholders and serve for a one year term or until removed  from
office  in  accordance with our bylaws or their successors  are  elected  and
qualify.  Officers are appointed by the board of directors and their terms of
office  are,  except to the extent governed by employment  contract,  at  the
direction of the board of directors.  Directors do not currently receive  any
compensation for their services in acting as directors.



Name                     Age      Position                         Since

Robert Danvers            50      Chief Executive Officer,           2001
                                  President and Director

Stephen Jackson           49      Secretary, Treasurer and Director  2002


Robert  Danvers,  our founder, has served as our President,  Chief  Executive
Officer, Secretary and Treasurer from August 30, 2001 to November 1, 2001 and
thereafter  to  date  as a director, President and Chief  Executive  Officer.
Since  1982,  Mr.  Danvers  has  provided  business  consulting  services  to
development  businesses  and public reporting companies  principally  in  the
field  of  financial management and business information  systems.   For  the
preceding  five years, Mr. Danvers has served as President and a director  of
Danby  Financial Management Corp. and Danby Technologies Corporation.   These
businesses  operate  respectively in the fields of financial  management  and
information systems consulting.

Mr.  Robert  Danvers may be considered a promoter within the meaning  of  the
federal securities laws.

Stephen Jackson has served as a director since April 12, 2002 and our Secretary
and  Treasurer  since May 20, 2002.  Mr. Jackson has been active  in  general
consulting  to business; private, corporate and publicly reporting businesses
since  1980,  He is a past director of the British Columbia Taxi Association.
He served during 2000 through 2002 as a director and President, Secretary and
Treasurer  of   Phoenix Star Ventures, Inc. (formerly wowtown.com,  Inc.),  a
Delaware  reporting  company trading on the OTC Bulletin Board,  involved  at
that time in establishing an Internet based local resource guide.  During the
period  1995  through  1997, Mr. Jackson served as  Vice  President  Investor
Relations  for  Athabaska Gold Resources Ltd., a Canadian  reporting  company
involved  in mineral exploration, then trading on the Toronto Stock  Exchange
and  Breckenridge  Resources Ltd., a Canadian reporting company  involved  in
mineral  exploration, then trading on the Vancouver Stock  Exchange.   During
1998  and 1999 Mr. Jackson consulted for the Vancouver International  Airport
Authority.

Officers  of the company do not devote their full time and attention  to  our
affairs.   We estimate that Mr. Danvers devotes over 80% of his time  to  our
business  and  Mr. Jackson less than 10%.  There are no family  relationships
between  any of our directors, executive officers and/or directors,  nominees
therefore or significant employees.

Compliance with Section 16(a) of the Exchange Act

Not Applicable


ITEM 10. EXECUTIVE COMPENSATION.


Summary Compensation Table

The following table sets forth information relating to all compensation awarded
to,  earned  by  or  paid  by  us  during the period  from  August  30,  2003
(inception)  through April 30, 2003 to: (a) all individuals, serving  as  our
Chief Executive Officer in the fiscal year ended April 30, 2003; and (b) each
of  our  executive officers who earned more than $100,000 during  the  fiscal
year ended April 30, 2003:

                                OtherSecurities
                                AnnualUnderlying         All
Name and           Fiscal             Compen-  Options/  LTIP  Other
Principal Position  Year Salary Bonus  sation  SARs (#)PayoutsCompensation

Robert Danvers      2003 -        -       -     -         -      -
   President, CEO   2002 -        -       -     -         -      -


Effective May 2003, the company has approved a fee of $5,000 per month to Danby
Financial  Management  Corp.,  a  company  controlled  by  Mr.  Danvers,  our
President, for services rendered by Mr. Danvers.

Option Grants in Last Fiscal Year

We  did not grant any stock options to the executive officers during our most
recent fiscal year ended April 30, 2003.  We have also not granted any  stock
options to executive officers since April 30, 2003.

Compensation of Directors

There are no standard arrangements pursuant to which directors are compensated
for any services provided as director.  No additional amounts are payable  to
directors  for  committee participation or special assignments performed  for
and on our behalf through to April 30, 2003.

Employment Contracts and Termination of Employment
and Change-in-Control Arrangements

There are no employment contracts, compensatory plans or arrangements, including
payments  to  be  received from us, with respect to any of our  directors  or
executive  officers  which would in any way result in payments  to  any  such
person because of his or her resignation, retirement or other termination  of
employment with us, any change in control of us, or a change in the  person's
responsibilities following such a change in control.


ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.


The following table sets forth certain information regarding our common stock
beneficially owned as of the date of this prospectus, by:

  (i)    each stockholder known by us to be the beneficial owner of five (5%)
percent or more of our outstanding common stock;
(ii) each of the our executive officers and directors; and
(iii)    all executive officers and directors as a group.


As  at June 30, 2003, there were 18,350,000 shares of our common stock issued
and outstanding.

      Name and Address of     Amount and Nature of       Percent
      Beneficial Owner (1)    Beneficial Owner  (2)      of Class

      Robert Danvers (3),(4),(5)10,788,000                58.8%
      Chantal Trudeau            1,967,200                10.7%
      Simon Danvers              1,967,200                10.7%
      Nicholas Danvers           1,967,200                10.7%
      Danby Technologies
      Corporation                  422,400                 2.3%
      Stephen Jackson                2,000                 0.0%

      All Executive Officers
      and Directors as a group
       (2 persons)              10,790,000                58.8%
_____________________

(1)   Unless otherwise indicated the address of each of the listed beneficial
owners identified is  444 Columbia Street E, New Westminster,  BC  V3L 3W9.
(2)   Under securities law, a person is considered a "beneficial owner" of  a
security  if that person has or shares power to vote or direct the voting  of
such  security  or the power to dispose of such security.  A person  is  also
considered to be a beneficial owner of any securities of which the person has
a right to acquire beneficial ownership within 60 days.
(3)   Includes  1,967,200 common shares held in the name of Chantal  Trudeau.
Robert  Danvers is the spouse of Chantal Trudeau.  Each disclaims  beneficial
ownership of the shares beneficially owned by the other.
(4)   Includes  3,934,400 common shares held in the name of Danby  Investment
Corp.,  a  British  Columbia corporation on behalf of  Simon  Danvers  as  to
1,967,200  common shares and Nicholas Danvers as to 1,967,200 common  shares.
Simon  Danvers and Nicholas Danvers are the minor children of Robert  Danvers
and  Chantal Trudeau.  Simon Danvers and Nicholas Danvers shares are held  in
trust  by  Danby Investment Corp. for their benefit.  Robert Danvers  is  the
President and sole shareholder of Danby Investment Corp..  As trustee, Robert
Danvers  has  full direction and control of the shares held beneficially  for
Simon Danvers and Nicholas Danvers.
(5)   Includes  422,400 common shares held in the name of Danby  Technologies
Corporation, a British Columbia corporation.  Robert Danvers is the President
and sole shareholder of Danby Technologies Corporation.

Change of Control

There  are currently no arrangements known to us, which will or in the future
could, result in a change of control.


ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.


Except  as set forth below, there have been no material transactions,  series
of  similar  transactions,  currently proposed  transactions,  or  series  of
similar transactions, to which we are or will be a party, in which the amount
involved  exceeded  $60,000 and in which any of our  directors  or  executive
officers,  any  security  holder who is known by  us  to  own  of  record  or
beneficially more than five percent of our common stock, any promoter, or any
member  of  the  immediate  family of any of the  foregoing  persons,  had  a
material interest.

Mr.  Robert  Danvers may be considered a promoter within the meaning  of  the
federal securities laws.

During the period from August 30, 2001 (inception), through April 30, 2003:

We  acquired  from  Danby  Technologies  Corporation,  a  company  owned  and
controlled   by   Robert   Danvers,  the  prior  development,   designs   and
implementations for a virtual office system for the reimbursement of  $60,000
of  Danby Technologies Corporation's prior out of pocket development expenses
and  a royalty on future sales of 2%, to an aggregate $250,000 and thereafter
at the rate of 1% of net revenues.

We  issued  12,600,000 common shares in a private transaction to  Mr.  Robert
Danvers,  Mr.  Danvers  spouse,  Chantal Trudeau  and  their  minor  children
Nicholas and Simon Danvers for an aggregate consideration of $7,000.

On  October  3,  2001  we engaged Danby Technologies Corporation  to  provide
office premises on a month to month basis at the rate of $1,500 per month and
further  to  provide  us with a shared internet enabled  network  system  for
deploying and testing our development and the professional staff to  maintain
the implementation and undertake development at the rate of $3,000 per month.
In the period from incorporation to April 30, 2002, we incurred total fees of
$85,116 of which the outstanding balance was $46,565 at April 30, 2003.

We  issued  7,080,000  common  shares to Danby Technologies  Corporation  and
120,000  to a member of their staff in settlement of the principal amount  of
$60,000 due Danby Technologies Corporation under the October 3, 2001 purchase
agreement.

Subsequent to April 30, 2003:

We  entered into a licensing agreement with CTEC Security Solutions  Inc.,  a
company  with  directors in common, to enable us to incorporate  private  key
infrastructure security into our online systems.  The licensing agreement  is
for  a three year period and allows us to sell commguard branded products and
services  in the United States for a royalty of 10% of the net sales revenues
derived  from  these  products,  to  an  aggregate  $7.5  million  and   7.5%
thereafter.

At  this time we have not formulated any corporate policies for entering into
transactions with affiliated parties.

Members  of our management team are not employed by us on a full-time  basis.
They  are involved in other business activities and may, in the future become
involved  in  other  businesses.  If a specific business opportunity  becomes
available, such persons may face a conflict in selecting between our business
and  their other business interests.  We do not have and do not intend in the
future  to  formulate  a  policy for the resolution of  such  conflicts.   We
currently have no agreements with members of our management team.


ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K


A. Exhibits


Number      Description of exhibit

3.1  Articles of Incorporation (1)

3.1a Form of Certificate Change (2)

3.2  Bylaws (1)

4.1  Reg S Securities Subscription Agreement (1)

5.1  Opinion of Adorno & Yoss, P.A., with consent to use (1)

10.1 Purchase Agreement with Danby Technologies Corporation (1)

10.2 Debt Settlement Agreement with Danby Technologies Corporation (1)

10.3 Services Engagement with Danby Technologies Corporation (1)

10.4 Deferral of Engagement Fees with Danby Technologies Corporation (1)

10.5 License Agreement

21   Subsidiaries of the Issuer (3)

99.1 Certification of Chief Executive and Chief Financial Officer (3)

_______________________

(1)          Incorporated by reference to the registration statement on  Form
SB-2  file  number  333-90618,  as amended,  as  declared  effective  by  the
Securities and Exchange Commission on November 5, 2002.


(2)   Incorporated by reference to the Form 8-K filed with the Securities and
Exchange Commission on March 7, 2003.

(3)  Filed herewith.

B. Reports on Form 8-K

The  Company filed a Current Report on Form 8-K on March 7, 2003 with respect
to the filing of a Form of Certificate Change.


ITEM 14. CONTROLS AND PROCEDURES

         (a) Evaluation of disclosure controls and procedures.  In accordance
with  Rule  13a-15(b) of the Securities Exchange Act of 1934  (the  "Exchange
Act"),  within 90 days prior to the filing date of the annual report on  Form
10-KSB, an evaluation was carried out under the supervision and with the  par
ticipation of the company's management, including the company's President and
Chief Executive Officer and Chief Financial Officer, of the effectiveness  of
the  design and operation of the company's disclosure controls and procedures
(as  defined  in  Rule 13a-14(c) under the Exchange Act).  Based  upon  their
evaluation  of  these disclosure controls and procedures, the  President  and
Chief  Executive Officer and the Chief Financial Officer concluded  that  the
disclosure  controls and procedures were effective as of  the  date  of  such
evaluation  to  ensure  that material information relating  to  the  company,
including  its  consolidated subsidiaries, was made known to them  by  others
within  those entities, particularly during the period in which  this  annual
report on Form 10-KSB was prepared.

          (b)  Changes  in internal controls. There were not any  significant
changes  in  the  company's  internal controls or other  factors  that  could
significantly  affect  these  controls  subsequent  to  the  date  of   their
evaluation,  including  any  corrective actions with  regard  to  significant
deficiencies and material weaknesses.



                              SIGNATURES

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


                    Infotec Business Systems, Inc.
                             (Registrant)



By:   /s/ Robert Danvers
Robert Danvers
President, Chief Executive Officer, Director

Date:    July 21, 2003

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

      Signature             Title                            Date


        /s/  Robert Danvers  President,  Director, CEO,  July 21, 2003
      Robert Danvers        Principal Executive, Financial
                            and Accounting Officer



        /s/  Stephen Jackson  Secretary, Treasurer,  Director July 21, 2003
             Stephen Jackson




CERTIFICATION PURSUANT TO RULE 13A-14 OR 15D-14 OF THE SECURITIES EXCHANGE ACT
OF 1934, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
-----------------------------------------------------------------------------

I, Robert Danvers, certify that:

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

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

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

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

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

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

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

5.The  registrant's  other certifying officers and I have  disclosed  to  the
registrant's  auditors  and  the audit committee  of  registrant's  board  of
directors (or persons fulfilling the equivalent function):

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

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

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

   Date: July 21, 2003

      /s/ Robert Danvers
    Robert Danvers, Chief Executive Officer
CERTIFICATION PURSUANT TO RULE 13A-14 OR 15D-14 OF THE SECURITIES EXCHANGE ACT
OF 1934, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
-----------------------------------------------------------------------------

I, Robert Danvers, certify that:

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

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

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

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

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

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

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

5.The  registrant's  other certifying officers and I have  disclosed  to  the
registrant's  auditors  and  the audit committee  of  registrant's  board  of
directors (or persons fulfilling the equivalent function):

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

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

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

   Date: July 21, 2003

     /s/ Robert Danvers
    Robert Danvers, Chief Financial Officer