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

FORM 10-KSB

(Mark One)

x Annual report
  pursuant to Section 13 or 15(d) of the securities exchange act of 1934 
  for the fiscal year ended December 31, 2003.

 ̈ Transition report
  under Section 13 or 15(d) of the securities exchange act of 1934

CAN/AM AUTOSALES, INC.(Exact name of registrant as specified in its charter)

|Nevada                          | 333-103986               | 98-0384073                       
|------------------------------- | ------------------------ | ---------------------------------
|(State of other jurisdiction of | (Commission File Number) | (IRS Employer Identification No.)
|incorporation or organization)  |                          |                                  

1577 W. 4th Avenue Vancouver, B.C. Canada
  V6J 1L6
  (Address of principal executive offices)

Registrants telephone number: (604) 732-3799

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

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

Common stock

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 or Regulation S-B is not contained in this form, and no disclosure
  will be contained, to the best of registrants knowledge, in definitive
  proxy or information statements incorporated by reference in Part III of this
  Form 10-KSB or any amendment to this Form 10-KSB x

State issuers revenues for its most recent fiscal year:
  $0.00

State the aggregate market value of the voting and non-voting
  common equity held by non-affiliates computed by reference to the price at which
  the common equity was sold, or the average bid and asked price of such common
  equity, as of a specified date within the past 60 days. $0.00(1)

(1) There is presently no public market for the common stock.

State the number of shares outstanding of each of the issuers
  classes of common equity, as of the latest practicable date. As of March
  15, 2004, the issuer had 3,450,000 shares of common stock issued and outstanding.

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CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION

Certain statements in this annual report on Form 10-KSB contain
  or may contain forward-looking statements that are subject to known and unknown
  risks, uncertainties and other factors which may cause actual results, performance
  or achievements to be materially different from any future results, performance
  or achievements expressed or implied by such forward-looking statements. These
  forward-looking statements were based on various factors and were derived utilizing
  numerous assumptions and other factors that could cause our actual results to
  differ materially from those in the forward-looking statements. These factors
  include, but are not limited to, our ability to consummate a merger or business
  combination, economic, political and market conditions and fluctuations, government
  and industry regulation, interest rate risk, U.S. and global competition, and
  other factors. Most of these factors are difficult to predict accurately and
  are generally beyond our control. You should consider the areas of risk described
  in connection with any forward-looking statements that may be made herein. Readers
  are cautioned not to place undue reliance on these forward-looking statements,
  which speak only as of the date of this report. Readers should carefully review
  this annual report in its entirety, including but not limited to our financial
  statements and the notes thereto. Except for our ongoing obligations to disclose
  material information under the Federal securities laws, we undertake no obligation
  to release publicly any revisions to any forward-looking statements, to report
  events or to report the occurrence of unanticipated events. For any forward-looking
  statements contained in any document, we claim the protection of the safe harbor
  for forward-looking statements contained in the Private Securities Litigation
  Reform Act of 1995.

PART I

Item 1. Description of Business

Business Development

Can/Am Autosales, Inc., was incorporated on November 4, 2002,
  in the state of Nevada. Can/Am has never declared bankruptcy, it has never been
  in receivership, and it has never been involved in any legal action or proceedings.
  Since becoming incorporated, it has not made any significant purchase or sale
  of assets, nor has it been involved in any mergers, acquisitions or consolidations.

Business of Can/Am

Can/Ams objective is to provide quality used Canadian
  vehicles at a reasonable price to customers in the United States and Canada.
  We will accomplish this by purchasing quality used vehicles from individuals
  and advertising them through newspapers, auto trade magazines, and the corporate
  website. Can/Am intends to sell cars that are driven locally in Vancouver, B.C.
  Compared to other major Canadian cities, these cars tend to have lower mileage,
  as they are rarely driven on highways and due to temperate weather conditions,
  there is less wear and tear.

The majority of our advertising will be done on Can/Ams
  website and auto trade magazines and/or their websites. The advertised vehicles
  in trade magazines will link potential customers to Can/Ams website. Currently,
  we are developing the corporate website, www.canamautosales.com.

Principal Products, Services and Their Markets

The focus is to competitively supply Canadian vehicles to
  the U.S. and to Canada. Automobiles, which are in good condition, i.e. low mileage
  for age, service history, pedigree of vehicle, and accident free, will be sourced.
  Owner histories - preferably one owner vs. multiple owners, will be of primary
  importance. The objective is to find buyers for cars as opposed to focusing
  on finding cars for customers.

Can/Am will provide fully inspected vehicles and provide documentation
  of full history, quality, and disclosure of known problems. Can/Am will have
  done full maintenance at corresponding manufacturers mileage, along with complete
  detailing, inside and out, before selling them. Can/Am will use Customs

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Brokers who provide the necessary U.S customs/brokerage paperwork,
  as well as ensuring the car complies with U.S. regulations. Most cars that sold
  in the Canadian market comply with North American safety and emission standards
  at the date of manufacture. However, every car will be evaluated on a case-by-case
  basis. There are minor changes that will have to be done on most vehicles, such
  as changing speedometers from kilometers to miles.

Distribution Methods of the Products and Services

Distribution in Can/Ams two primary markets, the United
  States and Canada, will be done through using automotive relocation specialists.
  These relocation specialists are US and Canadian bonded carriers that provide
  door-to-door shipping service to all points in North America. Can/Am will deliver
  the vehicles to a local relocation specialist, who charges a fee to ship the
  vehicles to the final destination by trailer and/or train. These fees will be
  based on the shipping distances from Vancouver to the final destination, and
  will be sourced on a case-by-case basis, as required.

For customers that are close to our location, such as Washington
  State, these customers may choose to transport the vehicles themselves. If Can/Am
  is required to ship the vehicle, then we will use the service of a relocation
  specialist.

Shipping costs will be determined on a case-by-case basis.
  These costs may be paid entirely by the purchaser or may be paid entirely by
  Can/Am or a combination thereof. It would only become non-feasible to sell a
  car outside of our local area if the shipping costs exceed the cars profit
  margin. However, such vehicles would be sold locally. This can only be determined
  at the time of the sale.

We have not had formal negotiations with customs brokers or
  relocation specialists, but based on informal inquiries, custom brokers will
  charge approximately $150 - $200 and relocation specialists fees are based
  on shipping distances from Vancouver and will range from approximately $500
  - $1,500 per vehicle. The following table shows approximate fees for shipping
  a 1996 Toyota Corolla from Vancouver, B.C., as follows:

| | Miami, FL     | $1,500 | 
| | ------------- | ------ | 
| | Boston, MA    | 1,200  | 
| | San Diego, CA | 900    | 
| | Portland, OR  | 500    | 

Duties and customs fees remain the same regardless of the
  destination in the U.S. Even though the trade magazines we will be advertising
  in will be distributed across the U.S., it does not necessarily mean that we
  will be selling in all of the states. What states we will sell a car to will
  be determined at the time of sale by analyzing all of the costs. It is our intention
  over the next 12 months to focus mainly within our region, which would be British
  Columbia and Alberta in Canada and Washington State, Oregon, and California
  in the U.S. We intend to pass on as much, if not all, of the shipping costs
  to the purchaser, but this can only be determined on a case-by-case basis at
  the time of negotiating a sale. Further, we are looking at purchasing vehicles
  in the $5,000 - $7,000 price range during the next 12 months. These prices most
  likely dictate that we will be selling our vehicles in our region mentioned
  above. It would be highly unlikely that it would be feasible, to us or the customer,
  to ship to areas close to or on the east coast of the U.S.

Competition and Competitive Strategy

Can/Ams intention is to establish the company as a credible
  participant in an already existing market. At present, there are many other
  companies selling used automobiles on the Internet and through trade magazines.
  The Founder and President, Phil Groumoutis, has visited several of these sites
  and has found that most companies that advertise online have limited contact
  with the customer and offer little or no information to the public.

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There are several factors that distinguish Can/Am from other
  companies that are selling used vehicles on the market. First, Can/Am wants
  to encourage personal contact with potential customers. It gives us the opportunity
  to teach the customers how to buy quality and economically feasible vehicles.
  Since Can/Am will not be selling vehicles on-line, the customer will be required
  to phone or e-mail us to ask questions. This allows us to directly communicate
  with the customer. Second, we propose to utilize our website to not only advertise
  to the public, but to offer more information to potential consumers.

Third, Mr. Groumoutis has also found that providing service
  history to the customer is of vital importance. Because Can/Ams competitive
  strategy is to buy low mileage vehicles from the private sector, he will provide
  customers with details of how the previous owners have serviced their vehicles.
  Obtaining service history is important because it not only proves low mileage,
  but also establishes credibility with customers as to the high quality of used
  vehicles we intend to offer.

Of primary importance and advantage is the experience and
  background of the founder and president, Mr. Groumoutis. His 12 years experience
  in the automotive trade gives him the ability to seek and find good quality
  cars and repair them to excellent working order before they go on sale. His
  knowledge of the market allows him to differentiate between a good, and bad
  product and determine problems in the market beforehand. In addition to providing
  information on vehicles, Can/Am will subcontract Mr. Groumoutis auto repair
  shop, P.S. Motors Ltd., to fully inspect and service vehicles, at a competitive
  rate, so that they are mechanically sound before going on the market and list
  inspection reports on the website.

Can/Ams strategic approach is to sell cars that are
  driven locally in Vancouver, B.C. These cars tend to have lower mileage, as
  they are rarely driven on highways, and due to temperate weather conditions,
  there is less wear and tear when compared to other major Canadian cities. In
  addition, for the U.S. market these cars can be a good value, primarily due
  to the differential value of the Canadian dollar compared to the U.S. dollar.

The majority of advertising will be done on Cam/Ams
  website and auto trade magazines and/or their websites. The advertised vehicles
  in trade magazines will link potential customers to Can/Ams website, which
  will in turn offer more vehicles for sale.

Sources and Availability of Products

The source for vehicles will be individuals selling cars,
  and in some instances, dealers. The advantage of approaching private individuals
  is that there is no reliance on principal suppliers. Individual vehicle owners
  will be accessed through newspapers, magazines, trade magazines, auctions, and
  in some instances, dealerships at wholesale rates.

Governmental Controls, Approvals and Regulations

Government regulations are typically not a problem. To export
  a vehicle to the U.S., we will comply with the U.S. Safety and Emission Standards
  for the year of manufacture. The safety standards as set by the U.S. Department
  of Transportation (DOT) and the emission standards, as set by the
  U.S. Environmental Protection Agency (EPA), will be followed. Most
  vehicles have stickers stating that they comply with the safety and emission
  standards for North America for the date it was manufactured. Although newer
  vehicles will comply with these standards, there are other areas that do need
  to be modified. For example, every car coming from Canada has to have the speedometer
  changed from kilometers to miles. Other minor changes have to be determined
  on a car-by-car basis. Further, customs brokers will know what changes are required
  for a vehicle given its year of manufacture.

Can/Am will use the services of a Customs Broker, who will
  provide the necessary documentation to complete the delivery into the U.S. Companies
  offering the services of customs brokers are able to assist with the exporting
  of vehicles to the U.S. These companies deal with the U.S. customs authorities
  and are held accountable to comply with the numerous government regulations.
  We have not had any formal conversations or have begun preliminary negotiations
  with any customs brokers. Negotiations will be

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dealt with on a case per case basis, to try to ascertain the
  best fees and services at the time required. The fees for these services are
  competitively priced and are generally based on the size and weight of the vehicle
  and the distance to its destination.

Compliance With Environmental Laws

For vehicles sold to the U.S., we will comply with the U.S.
  EPA emission standards, as most vehicles sold in Canada have stickers stating
  that they comply with U.S. EPA emission standards for date of manufacture. For
  vehicles sold in Canada they will already comply with Canadian emission standards.

Employees

Other than Can/Ams Directors and Executive Officers
  who are currently donating their time to the development of the company, there
  are no employees of Can/Am. Can/Am does not intend to hire employees until the
  business has been successfully launched with sales revenues flowing into it.
  Can/Ams Officers and Directors intend to do whatever work is necessary
  to bring it to the point of earning revenues. Human resource planning will be
  part of an ongoing process that will include constant evaluation of operations
  and revenue realization.

Reports to Security Holders

Can/Am will voluntarily make available an annual report including
  audited financials on Form 10-K or Form 10-KSB to security holders.

The public may read and copy any materials filed with the
  SEC at the SECs Public Reference Room at 450 Fifth Street, N.W., Washington,
  D.C. 20549. The public may obtain information on the operation of the Public
  Reference Room by calling the SEC at 1-800-SEC-0330. The SEC maintains an Internet
  site that contains reports, proxy and information statements, and other information
  regarding Can/Ams that file electronically with the SEC at http://www.sec.gov.

Item 2. Description of Property.

Can/Ams principal place of business and corporate offices
  occupy approximately 250 sq. ft. of a 3,000 sq. ft. building at 1577 W. 4th
  Avenue, Vancouver B.C., Canada, V6J 1L6. The telephone number is (604) 732-3799.
  This office space is an enclosed office in a building rented by P.S. Motors
  ltd. P.S. Motors uses the other 2,750 sq. ft. for its automotive repair business.
  We have no intention of finding another office during the development stage
  of Can/Am. Can/Am will operate from the Presidents business office at
  no cost to the Company.

Can/Am does not have any investments or interests in any real
  estate. Can/Am does not invest in real estate mortgages, nor does it invest
  in Securities of, or interests in, persons primarily engaged in real estate
  activities.

Item 3. Legal Proceedings

We are not a party to any pending legal proceedings.

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

No matter was submitted during the fourth quarter of the fiscal year ended December 31, 2003, 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.

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Market for Stock.

There is presently no public market for Can/Ams common stock.

Holders.

As of December 31, 2003, Can/Am had thirty-three (33) shareholders of record of its common stock.

Stock Option Grants

To date, Can/Am has not granted any stock options.

Registration Rights

Can/Am has not granted registration rights to the selling shareholders or to any other persons.

Dividends.

As of December 31, 2003, Can/Am has not paid any dividends
  to its shareholder. There are no restrictions which would limit the ability
  of Can/Am to pay dividends on common equity or that are likely to do so in the
  future.

Recent Sales of Unregistered Securities

None.

Item 6. Managements Plan of Operation.

Can/Am Autosales, Inc., is a development stage company with
  no operations, no revenue, no financial backing and limited assets. Our plan
  is to market used cars through the internet and auto trade magazines to individuals
  in the U.S. and Canada. We will start by establishing a corporate website through
  our registered domain name www.canamautosales.com. We will require a minimum
  of $37,500 before we will consider this financing to be sufficient to purchase
  a vehicle and lease a lot. However, we feel that we will require at least $75,000
  through our current offering in order to develop this business.

The President of Can/Am, Mr. Groumoutis, has a strong background
  in the automotive trade business since 1989, primarily in the maintenance of
  vehicles. This experience is what is crucial to identifying quality used vehicles
  that require minimum maintenance and/or repairs. Mr. Groumoutis, who is based
  in Vancouver, B.C., will be responsible for the development of the U.S. and
  Canadian markets.

As of February 29, 2004, Can/Am had approximately $29,500
  of cash. Development stage net loss for the twelve months ended December 31,
  2003 was $15,269, compared to $1,782 for the period November 22, 2002 (inception)
  through December 31, 2002. The loss for the year ended December 31, 2003 consisted
  primarily of legal and accounting expenses incident to the companys development
  stage activities.

The website as of November 2003 has been 90  95% completed
  from the funds already raised. Using these funds, the framework, navigational
  structure, color schemes and branding has been completed and can be viewed at
  www.canamautosales.com. As of December 31, 2003, Can/Am has spent $2,609 on
  website development which has been capitalized on the Balance Sheet as website
  development costs and expects to spend an additional $3,000 over the next twelve
  (12) months. The general public will not be able to view areas that are under
  construction. Website development costs are being amortized over a period ending
  in December 2004, at which time our domain registration will expire.

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During the next twelve months of operations, Can/Am will focus
  on finding sufficient investment capital, applying to get its common stock quoted
  on the OTCBB, locate a storage lot, identify and purchase used vehicles, and
  marketing these vehicles for sale. It is the intention of Can/Am to attempt
  to generate sources of revenue during this period.

It is our intention to use the Prospectus dated October 20,
  2003 to raise up to $150,000. Per the Prospectus filed with the SEC, Can/Am
  is able to offer up to 1,500,000 shares of common stock at $0.10 per share.
  This offering had a closing date of December 31, 2003, with an option to extend
  it for an additional two years from the effective date (October 20, 2003). Can/Am
  did not sell any of the offering prior to December 31, 2003. However, the Board
  of Directors authorized opening this offering again, and as such, we are in
  the process of selling common stock. We will need at least $37,500 before we
  feel confident in allocating money towards the purchase of inventory, leasing
  a storage lot, and marketing the inventory. However, we feel that we will need
  to raise at least $75,000 to effectively develop this business. The extra money
  will allow us to purchase more inventory, lease a larger lot, and do additional
  marketing. We anticipate having revenues from sales of vehicles in the last
  half of the next twelve months.

Upon raising at least $37,500 we will look into leasing at
  least 3 parking spaces. We will then go about purchasing inventory. We will
  shop for vehicles through individuals by searching newspapers, auto trade magazines
  and their websites. Another source of purchasing vehicles is through wholesalers,
  which are dealers that are offering cars for sale to other dealers at wholesale
  prices. Can/Am is most likely to source cars through the individual sellers

Once we have a vehicle available for sale, we will then advertise
  it in newspapers, auto trade magazines, and our website. We feel that the advertising
  and marketing is key to our success, as it not only advertises vehicles for
  sale, but it is also a way of exposing Can/Am to the public. Our advertising
  will focus on driving people to our website, as well as providing contact information
  if people do not use the internet. We will not purchase our first vehicle until
  after the close of the offering.

Can/Ams website at, www.canamautosales.com, will be
  used as an information portal and will not offer on-line buying. The website
  will advertise all the vehicles available for sale with detailed mechanical
  inspection reports. It will also provide contact information by telephone, e-mail,
  and fax.

During this first year of operations, our officers and directors
  will also provide their labor at no charge. We do not anticipate hiring any
  staff during this period. However, P.S. Motors Ltd., a company owned and operated
  by Mr. Groumoutis will charge a standard rate for its labor, for work performed
  by its staff for Can/Ams vehicles.

How long we will be able to satisfy our cash requirements,
  and whether we will require additional outside funding in the next twelve months
  depends on how quickly we can generate sales revenue, and how much revenue can
  be generated. We have no plans to undertake product research and development
  during the next twelve months. There are also no plans or expectations to purchase
  or sell any plant and or significant equipment in the first year of operations.

There is substantial doubt about our ability to continue as
  a going concern as we have suffered recurring losses from operations and have
  no established source of revenue. Accordingly, our independent auditors included
  an explanatory paragraph regarding concerns about our ability to continue as
  a going concern. Our financial statements contain additional note disclosures
  describing the circumstances that lead to this disclosure by our independent
  auditors.

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New Accounting Pronouncements

The following recent accounting pronouncements:

- FASB Statements
- Number 145, Rescission of FASB
      Statements No. 4, 44, and 64, Amendment of FASB Statement No. 13, and Technical
      Corrections
- Number 146, Accounting for Costs
      Associated with Exit or Disposal Activities,
- Number 147, Acquisitions of Certain
      Financial Institutions  an amendment of FASB Statements No. 72 and
      144 and FASB Interpretation No. 9,
- Number 148, Accounting for Stock-Based
      Compensation  Transition and Disclosure  an amendment of FASB
      Statement No. 123,
- Number 149, Amendment of Statement
      133 on Derivative Investments and Hedging Activities,
- Number 150, Financial Instruments
      with Characteristics of Both Liabilities and Equity,
- and FASB Interpretations
    Number 45, Guarantors Accounting
        and Disclosure Requirements for Guarantees, Including Indirect Guarantees
        of Indebtedness of Others  and Interpretation of FASB Statements
        No. 5, 57, and 107 and rescission of FASB Interpretation No. 34
      Number 46, Consolidation of Variable
        Interest Entities  an Interpretation of ARB No. 51
- Number 45, Guarantors Accounting
        and Disclosure Requirements for Guarantees, Including Indirect Guarantees
        of Indebtedness of Others  and Interpretation of FASB Statements
        No. 5, 57, and 107 and rescission of FASB Interpretation No. 34
- Number 46, Consolidation of Variable
        Interest Entities  an Interpretation of ARB No. 51

are not currently expected to have a material effect on our financial Statements.

Application of Critical Accounting PoliciesGoing Concern

Our financial statements have been prepared on a going concern
  basis which assumes that adequate sources of financing will be obtained as required
  and that our assets will be realized and liabilities settled in the ordinary
  course of business. Accordingly, our financial statements do not include any
  adjustments related to the recoverability of assets and classification of assets
  and liabilities that might be necessary should we be unable to continue as a
  going concern.

In order for us to continue as a going concern, we require
  additional financing. There can be no assurance that additional financing will
  be available to us when needed or, if available, that it can be obtained on
  commercially reasonable terms. If we are not able to continue as a going concern,
  we would likely be unable to realize the carrying value of our assets reflected
  in the balances set out in the preparation of financial statements.

Use of Estimates

The preparation of financial statements in accordance with
  United States generally accepted accounting principles requires management to
  make estimates and assumptions that affect the reported amounts of assets and
  liabilities and disclosures of contingent assets and liabilities at the date
  of the financial statements and the reported amounts of revenues and expenses
  during the reporting period. Actual results could materially differ from these
  estimates.

Website Development Costs

Direct internal and external costs associated with the development
  of the features, content and functionality of our website incurred during the
  application development stage are capitalized. All other costs are expensed
  including those incurred after the date upon which the website is declared operational,
  except for those costs incurred in respect of significant functionality enhancements.
  The capitalization costs are amortized over a period ending in December 2004,
  at which time our domain registration will expire.

Revenue Recognition

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The Company intends to develop its business consisting of
  the sale of used vehicles to customers in the U.S. and Canada. Revenues will
  be recognized when the vehicles are sold, there are no uncertainties surrounding
  product acceptance, there are no significant vendor obligations, the fees are
  fixed and determinable and collection is considered probable.

Item 7. Financial Statements

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CAN/AM AUTOSALES, INC.Index to Financial StatementsDecember 31, 2003 and 2002

|                                                       |     | 
|------------------------------------------------------ | --- | 
|                                                       |     | 
|                                                       |     | 
|                                                       |     | 
|Report of Independent Certified Public Accountants     | F-2 | 
|                                                       |     | 
|Balance Sheet:                                         |     | 
|December 31, 2003                                      | F-3 | 
|                                                       |     | 
|Statements of Loss:                                    |     | 
|For the periods ended December 31,
      2003 and 2002 | F-4 | 
|                                                       |     | 
|Statements of Stockholders' Equity:                    |     | 
|For the periods ended December 31,
      2003 and 2002 | F-5 | 
|                                                       |     | 
|Statements of Cash Flows:                              |     | 
|For the periods ended December 31,
      2003 and 2002 | F-6 | 
|                                                       |     | 
|Notes to Financial Statements:                         |     | 
|December 31, 2003 and 2002                             | F-7 | 

F-1

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|Bateman & Co., Inc., P.C.Certified Public Accountants |                                                                                                                      
|----------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------
|                                                      | 5 Briardale Court
      Houston, Texas 77027-2904(713) 552-9800
      FAX (713) 552-9700
      www.batemanhouston.com

REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

To The Board of Directors and Stockholder 
  Of Can/Am Autosales, Inc.

We have audited the accompanying balance sheet of Can/Am Autosales,
  Inc. (a Nevada corporation and a development stage enterprise) as of December
  31, 2003, and the related statements of loss, stockholders equity, and
  cash flows for the year ended December 31, 2003 and for the period from November
  22, 2002 (inception) to December 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 audit.

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

In our opinion, the financial statements referred to above
  present fairly, in all material respects, the financial position of Can/Am Autosales,
  Inc. (a development stage enterprise) as of December 31, 2003, and the results
  of its operations and its cash flows for the periods ended December 31, 2003
  and 2002, in conformity with accounting principles generally accepted in the
  United States of America.

The accompanying financial statements have been prepared assuming
  that the Company will continue as a going concern. As discussed in Note 2 to
  the financial statements, the Company is not currently engaged in a business
  and has suffered losses from development stage activities to date, which raise
  substantial doubt about its ability to continue as a going concern. Management's
  plans in regard to these matters are also described in Note 2. The financial
  statements do not include any adjustments that might result from the outcome
  of this uncertainty.

| | BATEMAN & CO., INC., P.C.
| | -------------------------

Houston, Texas 
  April 10, 2004

F-2



Member 
  INTERNATIONAL ASSOCIATION OF PRACTISING ACCOUNTANTS 
  Offices in Principal Cities Around The World

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CAN/AM AUTOSALES, INC.(A development stage enterprise)
  Balance Sheet
  December 31, 2003

|ASSETS                                                 |   |         |  
|------------------------------------------------------ | - | ------- | -
|Current assets:                                        |   |         |  
|Cash and cash equivalents                              |   | 34,936  |  
|Prepaid expenses                                       |   | 18,484  |  
|Website development costs, net of
      accumulated    |   |         |  
|amortization
      of $435                             |   | 2,174   |  
|Total
      current assets                             |   | 55,594  |  
|Total
      assets                                     |   | 55,594  |  
|                                                       |   |         |  
|                                                       |   |         |  
|LIABILITIES                                            |   |         |  
|Current liabilities:                                   |   |         |  
|Accounts payable and accrued expenses                  | $ | 2,145   |  
|Total current liabilities                              |   | 2,145   |  
|                                                       |   |         |  
|Total liabilities                                      |   | 2,145   |  
|                                                       |   |         |  
|                                                       |   |         |  
|STOCKHOLDER'S EQUITY                                   |   |         |  
|Common stock, $.001 par value, 100,000,000 authorized, |   |         |  
|3,450,000
      shares issued and outstanding          |   | 3,450   |  
|Capital in excess of par value                         |   | 67,050  |  
|Deficit accumulated during the development
      stage |   | (17,051 | )
|Total
      stockholder's equity                       |   | 53,449  |  
|Total
      liabilities and stockholder's equity       | $ | 55,594  |  

F-3

The accompanying notes are an integral part of these statements.

---

CAN/AM AUTOSALES, INC.(A development stage enterprise)
  Statement of Loss For The Periods Ended
  December 31, 2003 and 2003

|                                              | Cumulative,  |         |              |   |              |  
|--------------------------------------------- | ------------ | ------- | ------------ | - | ------------ | -
|                                              | Inception,   |         |              |   | Inception,   |  
|                                              | November 22, |         |              |   | November 22, |  
|                                              | 2002 Through |         | Year Ended   |   | 2002 Through |  
|                                              | December 31, |         | December 31, |   | December 31, |  
|                                              | 2003         |         | 2003         |   | 2002         |  
|                                              |              |         |              |   |              |  
|Revenues                                      | $            | -       |              | $ | -            |  
|                                              |              |         |              |   |              |  
|General and administrative expenses           |              | 17,051  |              |   | 15,269       |  
|Total operating expenses                      |              | 17,051  |              |   | 15,269       |  
|(Loss) before taxes                           |              | (17,051 | )            |   | (15,269      | )
|                                              |              |         |              |   |              |  
|Provision (credit) for taxes on income:       |              | -       |              |   | -            |  
|Net (loss)                                    | $            | (17,051 | )            | $ | (15,269      | )
|                                              |              |         |              |   |              |  
|                                              |              |         |              |   |              |  
|Basic earnings (loss) per common share        |              |         |              | $ | (0.01        | )
|                                              |              |         |              |   |              |  
|Weighted average number of shares outstanding |              |         |              |   | 3,058,356    |  

F-4

The accompanying notes are an integral part of these statements.

---

CAN/AM AUTOSALES, INC.(A development stage enterprise)
  Statement of Stockholder's Equity
  For The Periods Ended
  December 31, 2003 and 2002

|                             |              |  |           |       |                 |   | Deficit     |  |       |        
|---------------------------- | ------------ |  | --------- | ----- | --------------- | - | ----------- |  | ----- | -------
|                             |              |  |           |       |                 |   | Accumulated |  |       |        
|                             |              |  |           |       | Capital in      |   | During the  |  |       |        
|                             | Common Stock |  | Excess of |       | Development     |   |             | 
|                             | Shares       |  | Amount    |       | Par
      Value |   | Stage       |  | Total |        
|                             |              |  |           |       |                 |   |             |  |       |        
|Inception, November 22, 2002 | -            |  | $         | -     |                 | $ | -           |  | $     | -      
|Stock issued for cash        | 300,000      |  |           | 300   |                 |   | 2,700       |  |       |        
|Development stage net (loss) |              |  |           |       |                 |   |             |  |       | (1,782 
|                             |              |  |           |       |                 |   |             |  |       |        
|Balances, December 31, 2002  | 300,000      |  | $         | 300   |                 | $ | 2,700       |  | $     | (1,782 
|                             |              |  |           |       |                 |   |             |  |       |        
|Stock issued for cash        | 3,150,000    |  |           | 3,150 |                 |   | 64,350      |  |       |        
|Development stage net (loss) |              |  |           |       |                 |   |             |  |       | (15,269
|                             |              |  |           |       |                 |   |             |  |       |        
|Balances, December 31, 2003  | 3,450,000    |  | $         | 3,450 |                 | $ | 67,050      |  | $     | (17,051

F-5

The accompanying notes are an integral part of these statements.

---

CAN/AM AUTOSALES, INC.(A development stage enterprise)
  Statement of Cash Flows
  For The Periods Ended
  December 31, 2003 and 2002

|                                                   | Cumulative,  |         |              |   |              |  
|-------------------------------------------------- | ------------ | ------- | ------------ | - | ------------ | -
|                                                   | Inception,   |         |              |   | Inception,   |  
|                                                   | November 22, |         |              |   | November 22, |  
|                                                   | 2002 Through |         | Year Ended   |   | 2002 Through |  
|                                                   | December 31, |         | December 31, |   | December 31, |  
|                                                   | 2003         |         | 2003         |   | 2002         |  
|                                                   |              |         |              |   |              |  
|Cash flows from operating activities:              |              |         |              |   |              |  
|Net (loss)                                         | $            | (17,051 | )            | $ | (15,269      | )
|                                                   |              |         |              |   |              |  
|Adjustments to reconcile net (loss) to cash        |              |         |              |   |              |  
|provided (used) by developmental stage activities: |              |         |              |   |              |  
|Amortization                                       |              | 435     |              |   | 435          |  
|Change in current assets and liabilities:          |              |         |              |   |              |  
|Prepaid expenses                                   |              | (18,484 | )            |   | (18,484      | )
|Accounts payable and accrued expenses              |              | 2,145   |              |   | 1,436        |  
|Advances from related party                        |              | -       |              |   | (420         | )
|Net cash flows from
      operating activities     |              | (32,955 | )            |   | (32,302      | )
|                                                   |              |         |              |   |              |  
|Cash flows from investing activities:              |              |         |              |   |              |  
|Website development costs incurred                 |              | (2,609  | )            |   | (2,609       | )
|Net cash flows from
      investing activities     |              | (2,609  | )            |   | (2,609       | )
|                                                   |              |         |              |   |              |  
|                                                   |              |         |              |   |              |  
|Cash flows from financing activities:              |              |         |              |   |              |  
|Proceeds from sale of common stock                 |              | 70,500  |              |   | 67,500       |  
|Net cash flows from
      financing activities     |              | 70,500  |              |   | 67,500       |  
|Net cash flows                                     |              | 34,936  |              |   | 32,589       |  
|                                                   |              |         |              |   |              |  
|Cash and equivalents, beginning of period          |              | -       |              |   | 2,347        |  
|Cash and equivalents, end of period                | $            | 34,936  |              | $ | 34,936       |  
|                                                   |              |         |              |   |              |  
|Supplemental cash flow disclosures:                |              |         |              |   |              |  
|Cash paid for interest                             | $            | -       |              | $ | -            |  
|Cash paid for income taxes                         |              | -       |              |   | -            |  

F-6

The accompanying notes are an integral part of these statements.

---

CAN/AM AUTOSALES, INC.(A development stage enterprise)
  Notes to Financial Statements
  December 31, 2003 and 2002

Note 1 - Organization and summary of significant accounting
  policies:Following is a summary of the Companys organization and significant
  accounting policies:

Organization and nature of business
   Can/Am Autosales, Inc. (We, or the Company) is
  a Nevada corporation incorporated on November 4, 2002. We are based in Vancouver,
  British Columbia, Canada.

It is our intent is to become an automobile
  vendor which will export pre-owned Canadian vehicles for sale in the United
  States and Canada. A website has been developed and is intended to be the core
  component of our marketing and advertising strategy. The website displays a
  selection of the automobiles that are for sale and will be upgraded to include
  links to other industry related websites. Information for those desiring to
  invest in the Company will also be presented.

To date, our activities have been limited
  to formation and the raising of equity capital. In our current development stage,
  management anticipates incurring substantial additional losses as additional
  capital is raised and the business plan is implemented.

Basis of presentation Our
  accounting and reporting policies conform to U.S. generally accepted accounting
  principles applicable to development stage enterprises.

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
  amounts of assets and liabilities and disclosure of contingent assets and liabilities
  at the date of the financial statements and the reported amount of revenues
  and expenses during the reporting period. Actual results could differ from those
  estimates.

Cash and cash equivalents -For
  purposes of the statement of cash flows, we consider all cash in banks, cash
  funds held in trust, money market funds, and certificates of deposit with a
  maturity of l e ss than three months to be cash equivalents.

Website development costs
  We follow Emerging Issues Task Force Issue No. 00-2, Accounting for Website
  Development Costs , (EITF Issue No. 00-2), which provides
  that for specific website development costs, the accounting should be based
  generally on AICPA Statement of Position 98-1, Accounting for the Costs
  of Computer Software Developed or Obtained for Internal Use.Under SOP
  98-1, development costs are capitalized and amortized to income over t h e estimated
  useful life of the website. We are amortizing our costs over a period ending
  in November, 2004, at which time our domain registration will expire. Amortization
  for the year ended December 31, 2004 was $435.

Fair value of financial instruments
  and derivative financial instruments  We have adopted Statement of
  Financial Accounting Standards number 119, Disclosure About Derivative
  Financial Instruments and Fair Value of Financial Instruments. The carrying
  amounts of cash, accounts payable, and accrued expenses approximate fair value
  because of the short maturity of these items. These fair value estimates are
  subjective in nature and involve uncertainties and matters of significant judgment,
  and, therefore, cannot be determined with precision. Changes in assumptions

F-7

---

CAN/AM AUTOSALES, INC.(A development stage enterprise)
  Notes to Financial Statements
  December 31, 2003 and 2002

could significantly affect these estimates.
  We do not hold or issue financial instruments for trading purposes, nor do we
  utilize derivative instruments in the management of foreign exchange, commodity
  price or interest rate market risks.

Federal income taxes- Deferred
  income taxes are reported for timing differences between items of i n come or
  expense reported in the financial statements and those reported for income tax
  purposes i n accordance with Statement of Financial Accounting Standards number
  109 Accounting for Income Taxes, which requires the use of the
  asset/liability method of accounting for income taxes. Deferred income taxes
  and tax benefits are recognized for the future tax consequences attributable
  o t differences between the financial statement carrying amounts of existing
  assets and liabilities and their respective tax bases, and for tax loss and
  credit carryforwards. Deferred tax assets and liabilities are measured using
  enacted tax rates expected to apply to taxable income in the years in which
  those temporary differences are expected to be recovered or settled. Deferred
  taxes are provided for the estimated future tax effects attributable to temporary
  differences and carryforwards when realization is more likely than not.

Net income per share of common stock
   We have adopted FASB Statement Number 128, Earnings per Share,
  which requires presentation of basic and diluted EPS on the face of the n i
  come statement for all entities with complex capital structures and requires
  a reconciliation of the numerator and denominator of the basic EPS computation
  to the numerator and denominator of the diluted EPS computation. In the accompanying
  financial statements, basic earnings per share of common stock is computed by
  dividing net income by the weighted average number of shares of common stock
  outstanding during the period. We do not have a complex capital structure requiring
  the computation of diluted earnings per share.

Note 2 - Uncertainty, going concern: 
  At December 31, 2003, we were not currently engaged in a business and had suffered
  losses from development stage activities to date. Although management is currently
  attempting to implement the business plan (see Note 1 above) and is seeking
  additional sources of equity or debt financing, there is no assurance these
  activities will be successful. Accordingly, we must rely on our president to
  perform essential functions without compensation until a business operation
  can be commenced. These factors raise substantial doubt about the ability of
  the Company to continue as a going concern. The financial statements do not
  include any adjustments that might result from the outcome of this uncertainty.

Note 3  Expenses in connection with securities offerings:In early, 2003, we filed with the SEC a Form SB-2 to register common stock
  to be offered for sale. The Form became effective in October, 2003. In that
  connection, we have incurred $18,229 in legal and accounting fees, which have
  been deferred and included in Prepaid Expenses at December 31, 2003. These costs
  will be charged against Capital In Excess of Par Value when the securities are
  sold.

Note 4 - Related party transactions: 
  Our president has advanced funds from time to time to finance operations. The
  advances are not evidenced by a promissory note, do not bear interest, and are
  due currently. The Company expects to repay the advances out of proceeds from
  sales of stock. Such advances totaled $420 at December 31, 2002 and none at
  December 31, 2003.

F-8

---

CAN/AM AUTOSALES, INC.(A development stage enterprise)
  Notes to Financial Statements
  December 31, 2003 and 2002

Note 5 - Federal income tax:We follow Statement of Financial Accounting Standards Number 109 (SFAS 109),
  Accounting for Income Taxes . Deferred income taxes reflect the
  net effect of (a) temporary difference between carrying amounts of assets and
  liabilities for financial purposes and the amounts used for income tax reporting
  purposes, and (b) net operating loss carryforwards. No net provision for refundable
  Federal income tax has been made in h t e accompanying statement of loss because
  no recoverable taxes were paid previously. Similarly, no deferred tax asset
  attributable to the net operating loss carryforward has been recognized, as
  it is not deemed likely to be realized.

|The provision for refundable Federal income tax consists of the following: |         |   |       |  
|-------------------------------------------------------------------------- | ------- | - | ----- | -
|                                                                           |         |   |       |  
|                                                                           | 2003    |   | 2002  |  
|Refundable Federal income tax attributable to:                             |         |   |       |  
|Current operations                                                         | $(5,100 | ) | $(600 | )
|Less, Limitation due to absence of
      prior                             |         |   |       |  
|year taxable income                                                        | 5,100   |   | 600   |  
|Net refundable amount                                                      | -       |   | -     |  

The cumulative tax effect at the expected rate of 34% of significant
  items comprising our net deferred tax amount as of December 31, 2003 is as follows:

|                                    | 2003   |   | 2002 |  
|----------------------------------- | ------ | - | ---- | -
|                                    |        |   |      |  
|Deferred tax asset attributable to: |        |   |      |  
|Net operating loss carryover        | $5,700 |   | $600 |  
|Less, Valuation allowance           | (5,700 | ) | (600 | )
|Net deferred tax asset              | -      |   | -    |  

At December 31, 2003, an unused net operating loss carryover
  of $17,051 was available to offset future t a xable income; it expires beginning
  in 2022.

Note 6  Cumulative sales of stock:Through December 31, 2003, the Company had issued shares of its $.001 par
  value common stock as follows:

F-9

---

CAN/AM AUTOSALES, INC.(A development stage enterprise)
  Notes to Financial Statements
  December 31, 2003 and 2002

|         |                        |           |  | Price Per |  |         | 
|-------- | ---------------------- | --------- |  | --------- |  | ------- | 
|Date     | Description            | Shares    |  | Share     |  | Amount  | 
|         |                        |           |  |           |  |         | 
|11/22/02 | Shares issued for cash | 300,000   |  | $0.01     |  | $3,000  | 
|01/03 -  |                        |           |  |           |  |         | 
|03/03    | Shares issued for cash | 2,250,000 |  | 0.01      |  | 22,500  | 
|03/11/03 | Shares issued for cash | 900,000   |  | 0.05      |  | 45,000  | 
|12/31/03 | Cumulative Totals      | 3,450,000 |  |           |  | $70,500 | 

Subsequent to December 31, 2003 and through April 10, 2004,
  we have sold an additional 130,000 shares for $13,000 in cash.

Note 7  Correction of prior quarters earnings:
  
  At December 31, 2003, we capitalized as prepaid expenses certain legal and accounting
  fees that had previously been reported in interim financial information as general
  and administrative expenses. The net effects are as follows:

Note 8 - New accounting pronouncements: 
  The following recent accounting pronouncements:

|                   | Net (Loss)        |   | Amount      |  | Net (Loss)         |  
|------------------ | ----------------- | - | ----------- |  | ------------------ | -
|Quarter Ended      | As
      Reported |   | Capitalized |  | As
      Corrected |  
|March 31, 2003     | $(7,833           | ) | $3,283      |  | $(4,550            | )
|June 30, 2003      | (6,856            | ) | 3,738       |  | (3,118             | )
|September 30, 2003 | (10,460           | ) | 9,026       |  | (1,434             | )

- FASB Statements
- Number 145, Rescission of FASB Statements No.
        4, 44, and 64, Amendment of FASB Statement No. 13, and Technical Corrections
- Number 146, Accounting for Costs Associated with
        Exit or Disposal Activities,
- Number 147, Acquisitions of Certain Financial
        Institutions  an amendment of FASB Statements No. 72 and 144 and
        FASB Interpretation No. 9,
- Number 148, Accounting for Stock-Based Compensation
         Transition and Disclosure  an amendment of FASB Statement
        No. 123,
- Number 149, Amendment of Statement 133 on Derivative
        Investments and Hedging Activities,
- Number 150, Financial Instruments with Characteristics
        of Both Liabilities and Equity,
- and FASB Interpretations
- Number 45, Guarantors Accounting and Disclosure
        Requirements for Guarantees, Including Indirect Guarantees of Indebtedness
        of Others  and Interpretation of FASB Statements No. 5, 57, and
        107 and rescission of FASB Interpretation No. 34
- Number 46, Consolidation of Variable Interest
        Entities  an Interpretation of ARB No. 51

are not currently expected to have a material effect on our financial Statements.

F-10

---

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

Disclosures.

None. Not applicable.

PART III

Item 9. Directors, Executive Officers, Promoters and Control Persons;
  Compliance with Section16(a) of the Exchange Act

Can/Ams executive officers and directors and their respective ages as of December 31, 2003, are as follows:

Directors:

| | Name of Director         | Age | 
| | ------------------------ | --- | 
| | Triantafyllos Groumoutis | 31  | 
| | George Giannopoulos      | 29  | 
| | Nick Beretanos           | 39  | 
| | John Mantas              | 32  | 

Executive Officers:

| | Name of Officer          | Age |  | Office                 
| | ------------------------ | --- |  | -----------------------
| | Triantafyllos Groumoutis | 31  |  | President and CFO      
| | George Giannopoulos      | 29  |  | Secretary and Treasurer

The term of office for each director is one year, or until the next annual meeting of the shareholders.

Triantafyllos Groumoutis, President, Chief Financial
  Officer and Member of the Board of Directors, age 31. Mr. Groumoutis
  obtained Certificates of Apprenticeship and Qualification from the British

Columbia Institute of Technology (BCIT), located in Burnaby
  B.C., in December 1995. These certificates (licenses) are offered by the Canadian
  Government through the Ministry of Skills department, and provide the qualification
  to be a licensed Certified Automotive Technician throughout Canada. Mr. Groumoutis
  is the founder and President of P.S. Motors Ltd., a company incorporated in
  the Province of B.C., since 1994. P.S. Motors Ltd. is an automotive repair business
  located in Vancouver, B.C. and is solely owned by Mr. Groumoutis and employs
  five people.

Mr. Groumoutis will be allocating his time to Can/Am Autosales,
  Inc. concurrently with his running of P.S. Motors Ltd. As of this filing, Mr.
  Groumoutis has been allocating approximately 15 hours per week to Can/Am Autosales
  and anticipates dedicating 15-25 hours per week during the development of the
  business plan. Mr. Groumoutis will not be charging Can/Am Autosales for his
  time in the next twelve months.

George Giannopoulos, Secretary, Treasurer and Member
  of the Board of Directors,age 29. Mr. Giannopoulos obtained Certificates
  of Apprenticeship and Qualification from BCIT, located in Burnaby B.C., in 2000.
  These certificates (licenses) are offered by the Canadian Government through
  the Ministry of Skills department, and provide the qualification to be a licensed
  Certified Automotive Technician throughout Canada. Mr. Giannopoulos also obtained
  a Certificate of 3rd Class Power Engineer BC from BCIT in 1995.

Being a Certified 3rd Class Power Engineer, Mr.
  Giannopoulos, began his apprenticeship as an automotive technician with P.S.
  Motors Ltd. in February 1996. Upon completion of this apprenticeship and his
  certificate in 2000, Mr. Giannopoulos took a position as a process engineer
  with Chevron Canada, where he is currently employed.

---

Mr. Giannopoulos anticipates spending 5-10 hours per week
  during the development of the business plan. Mr. Giannopoulos will not be charging
  Can/Am Autosales for his time in the next twelve months.

Nick Beretanos, Member of the Board of Directors,age
  39. Mr. Beretanos graduated from G.R.T.I Technical School, located in Burnaby
  B.C., in 1990 with an Electrical & Computer Technicians Diploma. Mr. Beretanos
  also attended BCIT, located in Burnaby B.C., completing a certificate in the
  computer operating language UNIX.

Since 1991, Mr. Beretanos has been involved in computer sales
  and service through his company, Ante Computers Inc.

John Mantas, Member of the Board of Directors,age
  32. Mr. Mantas graduated from Langara Community College, located in Vancouver
  B.C., in December 1992 with an Accounting Diploma. He is currently working on
  his Certified General Accountant (CGA) certificate.

Mr. Mantas work experience since Langara Community College
  has been as follows:

1994  2001:Knight & Day
      Restaurants. Worked as an accounting assistant in the corporate office in
      Burnaby B.C. He was responsible for accounts payable, payroll, accounts
      receivable, and journal entries.
    2001  Present:CHC Helicopters
      Intl. General Accountant in the Richmond B.C. office. Duties include analysis,
      accruals, four foreign bases accounting, special projects, and electronic
      wire transfers.


None of Can/Ams Directors or executive officers have
  been involved, during the past five years, in any bankruptcy proceeding, conviction
  or criminal proceedings; has not been subject to any order, judgment, or decree,
  not subsequently reversed or suspended or vacated, of any court of competent
  jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise
  limiting his involvement in any type of business, securities or banking activities;
  and has not been found by a court of competent jurisdiction, the Commission
  or the Commodity Futures trading Commission to have violated a federal or state
  securities or commodities law.

Employment Agreements

N/A

Significant Employees

Can/Am has no significant employees other than the officers
  and directors described above, whose time and efforts are being provided to
  Can/Am without compensation.

Item 10. Executive Compensation.

Can/Ams Executive officers do not currently receive
  any compensation from Can/Am for their service as corporate officers. Can/Ams
  directors have not and currently do not receive any compensation from Can/Am
  for their service as corporate directors.

---

Summary Compensation Table

|              |                     |        |         |              | Long-Term Compensation
|------------- | ------------------- | ------ | ------- | ------------ | ----------------------
|              | Annual Compensation | Awards | Payouts |             
|              |                     |        |         |              |                       
|Name and      | Fiscal              | Salary | Bonus   | Other annual | Restricte             
|principal     | Year                |        |         | compensation | d stock               
|position      |                     |        |         |              | award(s)              
|              |                     |        |         |              |                       
|Triantafyllos | 2002                | 0      | 0       | 0            | 0                     
|Groumoutis    | 2003                | 0      | 0       | 0            | 0                     
|Director,     |                     |        |         |              |                       
|President,    |                     |        |         |              |                       
|CFO           |                     |        |         |              |                       
|              |                     |        |         |              |                       
|George        | 2002                | 0      | 0       | 0            | 0                     
|Giannopoulos  | 2003                | 0      | 0       | 0            | 0                     
|Director,     |                     |        |         |              |                       
|Secretary     |                     |        |         |              |                       
|Treasurer     |                     |        |         |              |                       
|              |                     |        |         |              |                       
|              |                     |        |         |              |                       
|              |                     |        |         |              |                       
|Nick          | 2002                | 0      | 0       | 0            | 0                     
|Beretanos,    | 2003                | 0      | 0       | 0            | 0                     
|Director      |                     |        |         |              |                       
|              |                     |        |         |              |                       
|John          | 2002                | 0      | 0       | 0            | 0                     
|Mantas,       | 2003                | 0      | 0       | 0            | 0                     
|Director      |                     |        |         |              |                       

There has been no cash payment paid to the executive officers
  for services rendered in all capacities to us for the fiscal period ended
  December 31, 2003. There has been no compensation awarded to, earned
  by, or paid to the executive officers by any person for services rendered in
  all capacities to us for the fiscal period ended December 31, 2003.

Stock Option Grants

Can/Am did not grant any stock options to the executive officers
  during the most recent fiscal period ended December 31, 2003. Can/Am has also
  not granted any stock options to the executive officers since incorporation,
  November 4, 2002.

Employment Agreements

There are no employment agreements

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

The following is a table detailing the current shareholders of our stock who own 5% or more of the common stock, and shares owned by our Directors and Officers:

---

|Title of class     | Name and address of beneficial owner                                                   | Amount of beneficial ownership | Percent of class
|------------------ | -------------------------------------------------------------------------------------- | ------------------------------ | ----------------
|Common
      Stock | Triantafyllos Groumoutis1
      577 W. 4thAvenue
      Vancouver, B.C. V6J 1L6         | 300,000 shares                 | 8.7%            
|Common
      Stock | George Giannopoulos, 1577 W. 4thAvenue
      Vancouver, B.C. V6J 1L6                   | 300,000 shares                 | 8.7%            
|Common
      Stock | John Mantas, 1577 W. 4thAvenue Vancouver,
      B.C. V6J 1L6                           | 300,000 shares                 | 8.7%            
|Common
      Stock | Nick Beretanos 1577 W. 4thAvenue Vancouver,
      B.C. V6J 1L6                         | 300,000 shares                 | 8.7%            
|Common
      Stock | All Officers and Directors as a Group that consists of
      4 people.                 | 1,200,000 shares               | 34.8%           
|Common
      Stock | Ulrich Forrer and Triantafylli Groumoutis* 912 W.
      14th Ave. Vancouver BC V5Z 1R4 | 200,000 shares                 | 5.8%            

* are husband and wife and own their common stock separately,
  but are reporting as one beneficial owner. Mr. Forrer and Ms. Groumoutis each
  own 100,000 shares of stock.

The percent of class is based on 3,450,000 shares of common
  stock issued and outstanding as of December 31, 2003.

Item 12. Certain Relationships and Related Transactions.

No persons who may, in the future, be considered a promoter
  will receive or expect to receive assets, services or other consideration from
  us. No assets will be or are expected to be acquired from any promoter on behalf
  of our company. We have not entered into any agreements that require disclosure
  to our shareholders.

Item 13. Exhibits and Reports on Form 8-K

Exhibits

|Exhibit No. | Document                  | Location        
|----------- | ------------------------- | ----------------
|3.1         | Articles of Incorporation | Previously Filed
|3.2         | Bylaws                    | Previously filed
|23          | Consent of Auditor        | Included        
|31.1        | Section 302 Certification | Included        
|31.2        | Section 302 Certification | Included        
|32.1        | Section 906 Certification | Included        

Reports on Form 8-K

No reports on Form 8-K have been filed during the last quarter of the year ended December 31, 2003.



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Signatures

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

CAN/AM AUTOSALES, INC.

/s/ Triantafyllos Groumoutis
  Triantafyllos Groumoutis 
  President, Chief Financial Officer, Director 
  Dated: 4/14/04

/s/ George Giannopoulos
  George Giannopoulos 
  Secretary, Treasurer, Director
  Dated: 4/14/04

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

/s/ Triantafyllos Groumoutis
  Triantafyllos Groumoutis
  President, 
  Chief Financial Officer, 
  Chief Accounting Officer, 
  Director 
  Dated: 4/14/04

/s/ George Giannopoulos
  George Giannopoulos
  Secretary, Treasurer, Director 
  Dated: 4/14/04

/s/ Nick Beretanos
  Nick Beretanos
  Director 
  Dated: 4/14/04

/s/ John Mantas
  John Mantas 
  Director 
  Dated: 4/14/04

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