<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-KSB

         |X|      ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
                  SECURITIES EXCHANGE ACT OF 1934

                   FOR THE FISCAL YEAR ENDED DECEMBER 31, 2002

                                       OR

         |_|      TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
                  SECURITIES EXCHANGE ACT OF 1934

                        FOR THE TRANSITION PERIOD FROM TO

                         COMMISSION FILE NUMBER 0-49824

                           INAMCO INTERNATIONAL CORP.
             (Exact name of registrant as specified in its charter)

             DELAWARE                                       72-1359595
 (State or other jurisdiction of                         (I.R.S. Employer
  incorporation or organization)                        Identification No.)

 801 MONTROSE AVE., SOUTH PLAINFIELD, NJ                       07080
 (Address of principal executive offices)                   (Zip Code)

                          (908) 754-4880 (Registrant's
                     telephone number, including area code)


        Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.

                                                     Yes |X|    No |_|

<PAGE>

        Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K (Section 229.405 of this chapter) is not contained
herein, and will not be contained, to the best of the registrant's knowledge, in
the definitive proxy or information statements incorporated by reference in Part
III of this Form 10-KSB or any amendment to this Form 10-KSB |_|

        The approximate aggregate market value of the voting and non-voting
common equity held by non-affiliates of the registrant was approximately
$276,000 as of March 31, 2003, based upon the closing price of the Common
Stock as reported on the Nasdaq Stock Market Pink Sheets on such date. For
purposes of this calculation, shares of Common Stock held by directors and
officers and stockholders whose ownership in the registrant is known by the
registrant to exceed five percent have been included. This number is provided
only for purposes of this report and does not represent an admission by either
the registrant or any such person as to the status of such person.

         As of March 31, 2003 there were 27,600,000 shares of the registrant's
Common Stock outstanding.

<TABLE>
<CAPTION>
                           INAMCO INTERNATIONAL CORP.

                                      INDEX
NO.                                                                                                   PAGE
---                                                                                                   ----

<S>             <C>                                                                                     <C>
Item 1.         Business                                                                                 1
Item 2.         Properties                                                                               9
Item 3.         Legal Proceedings                                                                        9
Item 4.         Submissions of Matters to a Vote of Security Holders                                     9

Item 5.         Market for the Registrant's Common Equity and Related Stockholder Matters                9
Item 6.         Selected Financial Data                                                                 10
Item 7.         Management's Discussion and Analysis of Financial Condition and Results of              10
                Operations
Item 7A.        Quantitative and Qualitative Disclosures about Market Risk                              15
Item 8.         Financial Statements and Supplementary Data                                             15
Item 9.         Changes in and Disagreements with Accountants on Accounting and Financial               16
                Disclosure
Item 10.        Directors and Executive Officers of the Registrant                                      16
Item 11.        Executive Compensation                                                                  16
Item 12.        Security Ownership of Certain Beneficial Owners and Management                          16
Item 13.        Certain Relationships and Related Transactions                                          16

Item 14.        Exhibits, Financial Statement Schedules and Reports on Form 8-K                         16

</TABLE>


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               INFORMATION RELATING TO FORWARD-LOOKING STATEMENTS

        This Annual Report on Form 10k includes forward-looking statements.
These forward-looking statements involve a number of risks and uncertainties.
Such forward looking statements include statements about our strategy and goals
referred to in this Annual Report, and other statements that are not historical
facts, including statements which are preceded by the words "intends," "will,"
"plans," "expects," "anticipates," "estimates," "aims," and "believes" or
similar words. For such statements, we claim the protection of the Private
Securities Litigation Reform Act of 1995. We undertake no obligation to update
publicly or revise any forward-looking statements. Actual events or results may
differ materially from Inamco's expectations. Important factors that could cause
actual results to differ materially from those stated or implied by our forward
looking statements include, but are not limited to, the following: the ability
to complete a merger and/or acquisition, if at all, within a reasonable time
period; future quarterly or annual financial results; the timing, success and
cost of generic pharmaceutical manufacturing research, out-licensing endeavors
and pharmaceutical stability testing; and receipt of additional milestone
payments, if any, from collaborators. Additional risk factors that could cause
actual results to differ materially from those in Inamco's forward looking
statements are disclosed in Inamco's SEC reports, including, but not limited to,
Inamco's registration statement filed May 22, 2002 on Form 10k, as amended, its
most recent quarterly report on Form 10k-Q and its most recent annual report on
Form 10k.

ITEM 1. BUSINESS

GENERAL DEVELOPMENT OF BUSINESS

        Inamco International Corp. ("Inamco", the "Company", "Registrant") was
incorporated in Delaware on January 17, 1993 originally as Omni Assets, Inc.
("Omni). Omni, at the time of its inception, was established to operate as a
financial consulting firm. Its clients were to be other companies that needed
assistance in management and mergers and/or acquisitions. Certain corporate
clientele would also need aid in the raising of capital by either the
introduction into the private sector or by the arrangement of certain kinds of
public offerings.

        On October 26, 1999, Inamco International Corp., a Delaware Corporation,
being incorporated on the 18th day of October, 1999, merged with Omni in a
transaction solely for stock. Pursuant to the merger agreement, 1000 shares of
Inamco were exchanged for 22,712,500 shares of Omni. Once the merger was
completed, Inamco terminated its corporate existence and, in February of 2000,
the name of Omni Assets, Inc., was changed to Inamco International Corp.

        The Company is a developmental stage corporation as defined in Financial
Accounting Standards Board Statement No.7, and is a non-operating public shell,
meaning it has not commenced full-scale operations and has insignificant assets
and liabilities. Since its inception, the Company has not had any revenues or
earnings, and the future success of the Company is dependent on obtaining a
viable business opportunity and/or merger candidate.

        The Company's President and Chief Executive Officer, Mr. Varges George,
has orchestrated the general development of the Company's business since October
of 1999. Although the Company has yet to commence full-scale operations, its
primary focus has been to complete a future acquisition of an ongoing
pharmaceutical concern. It should be noted that Mr. George is also the president
and sole shareholder of Inamco Services Corp., a management company that owns
and operates two separate and wholly owned subsidiary companies: Medicos
Laboratories, Inc. and Advanced Diagnostics, Inc. (descriptions of which are
located elsewhere in this Form 10kk).

        An earlier objective of the Company was to acquire Medicos Laboratories,
Inc. ("Medicos"), a company dedicated to the manufacture of quality
pharmaceuticals. An acquisition has not occurred, for the fact that Medicos
needed to complete certain business activities, including but not being limited
to, final construction of a lab area, and obtaining proper approvals and
licenses from the Food and Drug Administration (the "FDA"). The Company
anticipates that an acquisition of Medicos could be consummated by the end of
the third quarter of 2003, however there are certain risks, as explained in
other sections of this Form 10kk, associated to merging the Company and Medicos,
which could curtail and/or suspend any acquisition contemplated.

                                       1
<PAGE>

        At present, the Company has never had any subsidiaries, and is currently
not the subject of, or engaged in, any bankruptcy, receivership or similar
proceedings. There has been no material reclassification, merger, consolidation,
or any acquisition or disposition of any material amount of assets to or from
the Company. The Company's common stock presently trades on the over-the-counter
pink sheets under the symbol IICO.PK


PLAN OF OPERATION

        The information required by this section calls for a report on each
segment, as defined by generally accepted accounting principals, revenues from
external customers, a measure of profit or loss and total assets, as described
by Regulation S-K (Subpart 229.101). The Company must report this information
for each of the last three fiscal years or for as long as it has been in
business, whichever period is shorter. The information provided for this section
does conform with generally accepted accounting principals and is included in,
and can be crossed referenced to our audited financial statements.

        At present, the Company has yet to commence any operations, and does not
own any intellectual properties whatsoever. All future business is hypothetical
and predicated on the successful merger with an established pharmaceutical
manufacturer.

        The proper candidate will be an established pharmaceutical company that
presently manufactures and distributes certain generic over-the-counter ("OTC")
drugs. The candidate will need to have the ability to manufacture generic drugs
whose equivalents are Actifed(R), Allerest(R), Anacin(R), Co-Tylenol(R),
Exlax(R), Sudafed(R), and NightQuil(R). The candidate will also be in the
position to produce other OTC drugs and/or "grand-fathered" prescription
medications.

        Generic pharmaceuticals, as a whole, have the same chemical and
therapeutic properties as their brand-named counterparts. Although typically
less expensive, they are required to meet the same governmental standards as the
brand-named drug, and most must receive approval from the appropriate regulatory
authority prior to manufacture and sale. A manufacturer cannot produce or market
a generic pharmaceutical until all relevant patents (and any additional
government-mandated market exclusivity periods) covering the original brand-name
product have expired.

        Once a merger and/or acquisition has been consummated, Inamco will be in
a position to sell its products to distributors (both domestic and
international), hospitals, and large buying groups. The Food and Drug
Administration ("FDA") oversees the manufacture of both brand-name and generic
pharmaceuticals, and the production of these drugs is usually subject to:

         (1)      An approved New Drug Application ("NDA") which allows the
                  medication to state both its safety and effectiveness;
         (2)      Marketed under an NDA for safety only; (3) Marketed without an
                  NDA; or
         (4)      Marketed pursuant to over-the-counter monograph regulations.

        For generic pharmaceuticals being manufactured for both safety and
effectiveness, prior to marketing, these drugs must undergo and pass an
Abbreviated New Drug Application ("ANDA"). The Company realizes that in order to
get approval from the FDA via an ANDA, all drug product applications will need
to include: data relating to product formulation, raw material suppliers,
stability information, manufacturing techniques, packaging, labeling, and
quality control information. Those drugs subject to an ANDA under the Drug Price
Competition and Patent Term Restoration Act of 1984 (the "Waxman-Hatch Act")
must also contain bio-equivalency data. Generics can also be marketed by
adhering to FDA enforcement policies, or be subject to an over-the-counter drug

                                       2
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review monograph process. At present, Inamco has not prepared or submitted any
ANDA applications; it is contemplated however that certain applications may be
submitted based on certain drugs that Inamco may manufacture once a merger is
consummated.

        If a successful merger and acquisition is consummated, the Company will
be immediately subject to the following applicable regulations with respect to
all pharmaceuticals to be manufactured:

         o        Comply with Standard Operating Procedures and Good
                  Manufacturing Practices which include: o The development of a
                  drug formulation that matches the Brand product that is to be
                  reproduced (i.e. assay, content uniformity, dissolution
                  profiles, and stability)
         o        The manufacture of a pilot batch that will equal 1/10 the size
                  of the actual production batch
         o        Test and validate both the manufacture process and the drug
                  potency of the pilot batch
         o        Generate stability data covering a 3 month time frame in which
                  a portion of the pilot batch will be subjected to a constant
                  temperature of 40 degrees centigrade and 75% relative humidity
                  o Generate stability data covering a long-term time frame (12
                  months) in which a portion of the pilot batch will be
                  subjected to a constant temperature of 25 degrees centigrade
                  and a 60% relative humidity
         o        Upon successful stability studies for the 3 month time frame,
                  the product is ready for mass production and marketing
         o        The manufacture of 3 production sized batches in which the
                  manufacture process as well as drug potency will be tested and
                  validated
         o        Prepare and submit final documentation to State Formulary
                  committees, to obtain an approval from each State so that the
                  product may be reimbursed through insurance companies and
                  Medicaid.

        Inamco will have also identified many different sourcing chemical
companies where raw materials will be purchased in bulk for the manufacture of
its generic pharmaceuticals. All raw chemicals needed are readily available;
however, it will be the Company's intention to always be conscious of pricing,
for certain chemical companies will give discounts when buying in bulk and
placing continual orders. Inamco will benefit from the fact that the
pharmaceutical industry is non-cyclical and the need for quality OTC drugs is
always present. At present, Inamco has not identified any sourcing chemical
companies where raw materials could be purchased however; the Company will begin
the process once a merger is consummated with a suitable candidate company.

        A proper merger candidate will also have its good manufacturing
procedures ("GMP") certification issued by the FDA. This certification will then
allow Inamco to produce a complete retail line of OTC pharmaceuticals for
immediate sale to its future clientele. Coinciding with the expected revenues
generated, Inamco will also submit several different ANDA applications to the
FDA, so that it may manufacture certain prescription medication and add
considerable profit potential to its entire pharmaceutical operation. At
present, Inamco has no clientele or business operations and will rely on a
merger in order to generate future business, as well as a client list of
wholesalers and distributors.

        It will be Inamco's future intention not to have a single customer or
group of customers comprising more than 20% of its revenue stream. The Company
will continue to add to its client base by tendering offers through certain
buying groups, municipalities, government agencies, and hospital and retail
distributors. This will ensure enough of a customer base, so that the loss of
any one client will not significantly affect the Company's revenue stream.

        Since the Company has yet to begin any operations, it has no backlogged
orders or government contracts subject to renegotiation or termination. At
present the Company has no competition as well. It is contemplated, however that
if a merger and acquisition is successful, the Company will have competition
with other manufacturers of generic pharmaceuticals. These competitors will
probably have substantially greater capital resources than Inamco, as well as
seasoned sales and marketing teams in place. It is the Company's belief that its


                                       3
<PAGE>

primary competition will come from Alpharma, Inc., Barr Laboratories, Inc., and
Geneva Pharmaceuticals, Inc., for these companies are generic pharmaceutical
manufacturers.

        Inamco has not spent any monies on company-sponsored research and
development activities, and there are no plans to do so in the foreseeable
future. Once a merger and acquisition is consummated, the Company will be in
compliance with all federal, state and local provisions with respect to the
manufacture of generic pharmaceuticals. The FDA will oversee and enforce
compliance for good manufacturing practices, and the Company's facility will be
located in a properly zoned manufacturing area.


EMPLOYEES

         As of February 1, 2003, we had one employee, Mr. Varges George, who
acts as the Company's sole executive. Mr. George is not covered by any present
collective bargaining agreement(s). His relationship with the Company is good.


OUR STRATEGY

        The Company's immediate goal is to merge and/or acquire an existing
pharmaceutical manufacturing company. The Company has identified certain
pharmaceutical companies with the anticipation that initial negotiations to
acquire those concerns could begin. The Company cannot however state that any
merger activity, including, but not being limited to, negotiations, will be
productive.

COMPETITION

        At present the Company has no competition. It is contemplated, however
that if a merger and acquisition is successful, the Company will have
competition from other manufacturers of generic pharmaceuticals. Several of
these competitors will probable have substantially greater product development
capabilities and financial, scientific and marketing resources than we do. As a
result, they may be able to adapt more readily to technological advances than we
can, or to devote greater resources than we can to the research, development,
marketing and promotion of generic pharmaceuticals. Our future success will
depend on our ability to maintain a competitive position. The pharmaceutical
manufacturing industry is undergoing rapid and significant change and we may not
be able to compete successfully with newly emerging technologies. Several of our
future competitors will probably have substantially greater capital resources
than Inamco, as well as seasoned sales and marketing teams in place.


It would not be unlikely for Inamco, in the future, to rely on collaborators for
support of developmental programs and for those collaborators to rely on Inamco
to manufacture and market certain generic pharmaceuticals. These collaborators
may be manufacturing generic pharmaceuticals themselves, which may negatively
impact the development of certain drugs, which are subject to our agreements.
Generally, any agreement with a collaborator will preclude them from pursuing
manufacturing efforts in one or more areas of interest in which Inamco may have
internal manufacturing efforts ongoing.

GOVERNMENT REGULATION

        Inamco's generic pharmaceutical manufacturing activities are subject to
the laws and regulations of governmental authorities in the United States and
other countries in which these products may be marketed. Specifically, in the
United States, the Food and Drug Administration ("FDA") and comparable
regulatory agencies in state and local jurisdictions impose substantial
requirements on the manufacture and marketing of generic pharmaceuticals,
including the testing of these drugs to establish the safety and effectiveness


                                       4
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of the products. Inamco's future drug products will require regulatory approval
before commercialization. Governments in other countries have similar
requirements for testing, approval and marketing. In the United States, in
addition to meeting FDA regulations, we are also subject to other federal, state
and local environmental and safety laws and regulations.

As explained in other sections of this Form 10kk, once a merger and/or
acquisition has been consummated, Inamco will be in a position to sell its
products to distributors (both domestic and international), hospitals, and large
buying groups. The FDA oversees the manufacture of both brand-name and generic
pharmaceuticals, and the production of these drugs is usually subject to:

         (1)      An approved New Drug Application ("NDA") which allows the
                  medication to state both its safety and effectiveness;
         (2)      Marketed under an NDA for safety only; (3) Marketed without an
                  NDA; or
         (4)      Marketed pursuant to over-the-counter monograph regulations.

        For generic pharmaceuticals being manufactured for both safety and
effectiveness, prior to marketing, these drugs must undergo and pass an
Abbreviated New Drug Application ("ANDA"). The Company realizes that in order to
get approval from the FDA via an ANDA, all drug product applications will need
to include: data relating to product formulation, raw material suppliers,
stability information, manufacturing techniques, packaging, labeling, and
quality control information. Those drugs subject to an ANDA under the Drug Price
Competition and Patent Term Restoration Act of 1984 (the "Waxman-Hatch Act")
must also contain bio-equivalency data. Generics can also be marketed by
adhering to FDA enforcement policies, or be subject to an over-the-counter drug
review monograph process. At present, Inamco has not prepared or submitted any
ANDA applications; it is contemplated however that certain applications may be
submitted based on certain drugs that Inamco may manufacture once a merger is
consummated.

        If a successful merger and acquisition is consummated, the Company will
be immediately subject to the following applicable regulations with respect to
all pharmaceuticals to be manufactured:

         o        Comply with Standard Operating Procedures and Good
                  Manufacturing Practices which include:
         o        The development of a drug formulation that matches the Brand
                  product that is to be reproduced (i.e. assay, content
                  uniformity, dissolution profiles, and stability)
         o        The manufacture of a pilot batch that will equal 1/10 the size
                  of the actual production batch
         o        Test and validate both the manufacture process and the drug
                  potency of the pilot batch
         o        Generate stability data covering a 3 month time frame in which
                  a portion of the pilot batch will be subjected to a constant
                  temperature of 40 degrees centigrade and 75% relative humidity
         o        Generate stability data covering a long-term time frame (12
                  months) in which a portion of the pilot batch will be
                  subjected to a constant temperature of 25 degrees centigrade
                  and a 60% relative humidity
         o        Upon successful stability studies for the 3 month time frame,
                  the product is ready for mass production and marketing
         o        The manufacture of 3 production sized batches in which the
                  manufacture process as well as drug potency will be tested and
                  validated
         o        Prepare and submit final documentation to State Formulary
                  committees, to obtain an approval from each State so that the
                  product may be reimbursed through insurance companies and
                  Medicaid.

        The Generic Drug Enforcement Act of 1992. Which was amended to the FDC
Act, gives the FDA six ways to penalize any entity that engages in wrongdoing
with respect to the development and/or manufacture of a generic drug, or the
purposefully faulty submission of an ANDA, which include, but are not limited
to:



                                       5
<PAGE>

         1)       Permanently or temporarily prohibit alleged wrongdoers from
                  submitting or assisting in the submission of an ANDA;
         2)       Temporarily deny approval of, or suspend applications to
                  market particular generic drugs;
         3)       Suspend the distribution of all drugs approved or developed
                  pursuant to an invalid ANDA;
         4)       Withdraw approval of an ANDA;
         5)       Seek civil penalties; and/or
         6)       Significantly delay the approval of any pending ANDA from the
                  same party.

        At present, the Company has never been the subject of any enforcement
action by the FDA (and/or otherwise), and it is the intention of the Company to
acquire a pharmaceutical entity that itself has had no previous problems with
the FDA. There can be no assurances, however, that restrictions and/or fines
will not be imposed on Inamco in the future.

        In addition to regulations enforced by the FDA, the Company will also be
subject to regulation under the Occupational Safety and Health Act, the
Environmental Protection Act, the Toxic Substances Control Act, the Resource
Conservation and Recovery Act, the Controlled Substances Act and other present
and potential future federal, state or local regulations. Our manufacturing
programs involve the controlled use of hazardous materials, chemicals, and
biological materials. Although we believe that our safety procedures for
handling and disposing of such materials will comply with the standards
prescribed by state and federal regulations, the risk of accidental
contamination or injury from these materials cannot be completely eliminated. In
the event of such an accident, we could be held liable for any damages that
result, and the extent of that liability could exceed our resources.

RESEARCH

        The Company has had no research or developmental activities to date.

COMPLIANCE WITH ENVIRONMENTAL REGULATIONS

        The Company has had no operations to date that would allow for
compliance to environmental regulations, however we believe that in the event of
acquiring a pharmaceutical manufacturing company, any future operations will
comply in all material respects with applicable environmental laws and
regulations.

SOURCES AND AVAILABILITY OF RAW MATERIALS

       At present, Inamco has not identified any sourcing chemical companies
where raw materials could be purchased however; the Company will begin the
process once a merger is consummated with a suitable candidate company. Once an
acquisition has been completed, the Company would purchase raw materials and
supplies on the open market. Substantially all such materials are obtainable
from a number of sources so that the loss of any one source of supply would not
have a material adverse effect. Inamco will have also identified many different
sourcing chemical companies where raw materials could be purchased in bulk for
the manufacture of its generic pharmaceuticals. All raw chemicals needed are
readily available; however, it will be the Company's intention to always be
conscious of pricing, for certain chemical companies will give discounts when
buying in bulk and placing continual orders.

RISK FACTORS

RISK THAT WE HAVE A HISTORY OF LOSSES AND NO OPERATING HISTORY.

        We were formed in January 1993 and merged with a company, solely for
stock in October 1999. We had losses of $9,226 for the year ended December 31,
2002. Through December 31, 2002, we had an accumulated deficit of $35,624. Our


                                       6
<PAGE>

losses have resulted from general and administrative expenses associated with
the growth and requirements of a publicly traded company. We will continue to
experience operating losses, until such time that an acquisition could be
completed and revenues generated are such, that the Company might be able to
produce profitability. Even in the event of an acquisition, the Company may
never achieve sustained profitability and may have to discontinue operations.
RISKS INHERENT IN A DEVELOPMENT STAGE COMPANY.

        The Company was incorporated in Delaware on January 17, 1993 originally
as Omni Assets, Inc. On October 26, 1999, Inamco International Corp., a Delaware
Corporation being incorporated on the 18th day of October 1999, merged with Omni
in a transaction solely for stock. In February of 2000, the name of Omni was
changed to Inamco International Corp. Since the Company's inception, it has been
engaged almost exclusively in organizational activities and has just recently
begun the search for a pharmaceutical merger candidate, so that it may enter
into the generic pharmaceutical manufacturing arena. Accordingly, as a
transitional development stage company, the Company has had no operating history
upon which an evaluation of the Company's prospects can be determined.
Consequently, the likelihood of success of the Company must be considered in
view of all of the risks, expenses and delays inherent in the establishment of a
new business, including, but not being limited to, expenses and delays of an
ongoing business that has commenced, slower than anticipated manufacturing and
marketing activities, the uncertainty of market assimilation of the Company's
product and other unforeseen factors.

RISKS RELATING TO A MERGER.

        It must noted that the Company has not identified a suitable merger
candidate to date, and no assurance can be made that a candidate will ever be
found. Accordingly, the likelihood that the Company may merge with an ongoing
pharmaceutical company must be considered in view of all of the risks, expenses
and delays inherent to a merger, including, but not being limited to, expenses,
agreements and delays of merging one business with another, due diligence
compilation, shareholder approval, regulatory approval, legal and accounting
reviews, and any other unforeseen factors that are to effect the Company's
ability to merge with a pharmaceutical concern.

RISK OF BEING DEPENDENT UPON KEY PERSONNEL.


        The success of the Company depends, in part, upon the successful
performance of its president and secretary, Mr. Varges George. The Company had
entered into a one year comprehensive employment contract with Mr. George dated
October 27, 1999. The contract engaged Mr. George to provide exclusive services
to the Company for one million shares of Inamco stock (a copy of the Agreement
is attached hereto). If a merger is consummated, the Company intends to employ
additional qualified executives, employees and consultants having significant
experience delivering the business expertise needed. In the interim, if Mr.
George should fail to perform any of the duties undertaken by him for any reason
whatsoever, the ability of the Company to find a merger candidate so that the
Company may begin to manufacture, market and distribute pharmaceutical products,
could be adversely affected. The Company may seek in the future to secure and
maintain key man insurance on Mr. George; there is no assurance, however, that
such insurance will in fact be obtained. Moreover, the Company believes there
are available qualified managerial and other personnel in sufficient numbers to
properly staff the facilities and offices of the Company, but there can be no
assurance that the Company will be able to attract sufficient qualified
personnel.

RISK OF NEEDING ADDITIONAL CAPITAL IN THE FUTURE TO SUFFICIENTLY FUND OPERATIONS
ON TERMS THAT MAY NOT BE FAVORABLE.

        We have consumed substantial amounts of capital to date and we expect to
increase our operating expenses over the next several years. We also expect that
any merger activities will consume significant amounts of capital. Based upon
our anticipated activities, we believe that our current funds will be
insufficient to support any operating plans. We will need additional financing.
Financing may not be available or may not be available on terms favorable to us.


                                       7
<PAGE>

To the extent that we raise any funds through means available to us, we may be
required to relinquish some rights or technologies on terms that are unfavorable
to us. We may also raise additional funds through the incurrence of debt, and
the holders of any debt we may issue would have rights superior to any
shareholders rights. If adequate funds are not available, we will not be able to
continue our development.

RISK OF ENGAGING IN FUTURE STRATEGIC TRANSACTIONS THAT COULD HARM THE BUSINESS.

        From time to time we may consider strategic transactions after any
possible merger and/or acquisition. These potential transactions may include a
variety of different business arrangements, including spin-offs, acquisitions,
strategic partnerships, joint ventures, restructurings, divestitures, business
combinations and investments. We cannot assure any shareholder that any such
transactions will be consummated on favorable terms or at all or will not harm
our business. Any such transaction may require us to incur non-recurring or
other charges and may pose significant integration challenges or disrupt our
management or business, which could harm our business and financial results.


RISK OF A POTENTIAL CONFLICT OF INTEREST OF THE COMPANY'S PRESIDENT.


         Mr. Varges George is currently the president; and majority shareholder
of Inamco Services Corp. which is totally independent from, and should not be
confused with Inamco International Corp. This management company owns and
operates two separate and wholly owned subsidiary companies, one of which is a
generic pharmaceutical manufacturer, Medicos Laboratories, Inc. ("Medicos").
Medico operates primarily as a laboratory engaged in the development and
manufacture of non-prescription generic drugs. Among the products being produced
are: clinical chemical reagents, tablets, chewable tablets, capsules, liquids
and powders. It should be noted that if Inamco International Corp. should
acquire and/or merge with another pharmaceutical company other than Medicos
Laboratories Inc., there would be a conflict of interest resulting form Mr.
George's 100% ownership in Medicos and his majority ownership in Inamco
International Corp. If this should occur, it will be the legal responsibility of
Mr. George to properly relinquish one of his executive roles, as well as any
equity ownership, within one of the competing companies.

RISKS OF THE EFFECTS ON THE FLUCTUATION OF COSTS AND AVAILABILITY OF RAW
MATERIALS.

        If a merger is to occur, the Company intends to purchase premium grade
raw materials for use in its generic drug manufacturing enterprise. Such
unprocessed natural products will be obtained from third party sources and
manufacturing sub-contractors. The price and availability of these raw materials
are subject to numerous factors not within the Company's control including:
weather conditions, policies of foreign countries and/or trade restrictions as
well as the status of the worldwide demand for generic drug ingredients. In the
event the Company cannot timely acquire its raw materials from third party
entities, the Company's ability to ship its products and service to its targeted
markets on a timely basis, if at all, would be negatively affected.

RISK ON THE RELIANCE OF OUTSIDE SUPPLIERS.

        After a merger, the Company intends to purchase its raw materials and
supplies from independent sources. It will remain dependent upon such outside
sources for all of its unprocessed natural products. There can be no assurance
that these sources will be able to provide adequately for the future needs to
the Company. In the event that any of the Company's future suppliers should
suffer quality control problems, lack of raw materials or financial
difficulties, the Company would be required to find alternative sources for its
product lines. The likelihood that the Company could identify a broad base of
alternatives sources is good. The time lost in seeking and acquiring additional
and newer sources, however could adversely affect the Company's future revenues
and profitability.




                                       8
<PAGE>

RISK THAT WE MAY USE BIOLOGICAL AND HAZARDOUS MATERIALS.

        Any future pharmaceutical manufacturing activities will involve the
controlled use of potentially harmful chemical materials and compounds. We will
not be able to completely eliminate the risk of accidental contamination, which
could cause: an interruption of our manufacturing efforts, injury to any future
employees resulting in the payment of damages, and liabilities under federal,
state and local laws and regulations governing the use, storage, handling and
disposal of these materials and specified waste products.

PRODUCT LIABILITY

        The testing, marketing and sale of generic pharmaceuticals entail an
inherent risk of allegations of product liability, and there can be no assurance
that product liability claims will not be asserted against the Company. Inamco
may incur product liability due to product failure or improper use of products
by the user. The Company intends to obtain product liability insurance that
should be adequate for future operations. There can be no assurance, however,
that the amount of insurance, once obtained, will be sufficient to fully insure
against claims that may be made against the Company. At present, the Company has
not prepared or submitted any applications to the Food and Drug Administration
with respect to testing, marketing, or the sale of generic pharmaceuticals; it
is contemplated however that certain applications may be submitted based on
certain drugs that the Company may manufacture once a merger is consummated.
Once applications are submitted, the Company cannot state when approvals will be
had, if ever.

ITEM 2. PROPERTIES.

        At present, the Company does not own any property, or is a part of any
long-term lease agreements.

ITEM 3. LEGAL PROCEEDINGS.

        None.

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

        No matters were submitted to a vote of security holders during the
fourth quarter of the fiscal year covered by this report.

ITEM 5. MARKET FOR THE REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER
MATTERS.

        Our common stock has traded on the Nasdaq Pink Sheets under the symbol
"IICO.PK" The following table sets forth, for the period indicated, the high and
low bid quotations for the common stock as reported by the Nasdaq Pink Sheets.

                                                              HIGH      LOW
                                                            --------  --------
                    Year ended December 31, 2001
Third Quarter (from July 28, 2000)                          $    .08  $    .05
Fourth Quarter                                              $    .05  $    .05

                                                              HIGH      LOW
                                                            --------  --------
                    Year ended December 31, 2002
First Quarter                                               $    .05  $    .01
Second Quarter                                              $    .01  $    .01
Third Quarter                                               $    .01  $    .01
Fourth Quarter                                              $    .01  $    .01

2003 Calendar Year


January 1- March 31                                         $    .01  $    .01



                                       9
<PAGE>

        On February 1, 2003, the last reported sale price on the Nasdaq pink
Sheets for our common stock was $0.01 per share.

        As of February 1, 2003 there were approximately 50 stockholders of
record of the Company's common stock.

DIVIDENDS

        We have never declared or paid any cash dividends on our capital stock
and do not anticipate paying any cash dividends in the foreseeable future.

USE OF PROCEEDS FROM THE SALE OF REGISTERED SECURITIES
       The Company has not recorded and/or sold any registered securities for
the year ending December 31, 2002.


ITEM 6. SELECTED FINANCIAL DATA.

        The following Selected Financial Data should be read in conjunction with
"Item 7. Management's Discussion and Analysis of Financial Condition and Results
of Operations" and "Item 8. Financial Statements "
included elsewhere in this Annual Report on Form 10k.

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS.


        You should read the following discussion and analysis in conjunction
with the Company's "Financial Statements and Supplementary Data" included
elsewhere in this Form 10kk.


        At present, the Company has yet to commence any operations, and does not
own any intellectual properties whatsoever. The Company is in the development
stage as defined in Financial Accounting Standards Board Statement No.7, and is
a non-operating public shell, meaning it has not commenced full-scale operations
and has insignificant assets and liabilities. Since its inception, the Company
has not had any revenues or earnings, and all future business is hypothetical
and predicated on the successful merger with an established pharmaceutical
manufacturer.


CRITICAL ACCOUNTING POLICIES AND MANAGEMENT ESTIMATES


        It cannot be assured that the Company will have any accounting policies
and/or management estimates, based off of actual business operations, in the
foreseeable future. The initiation of these practices will only begin once a
successful merger with an established pharmaceutical manufacturer has been had.
However, the Securities and Exchange Commission defines critical accounting
policies as those that are, in management's view, most important to the
portrayal of the company's financial condition and results of operations and
most demanding of their judgment. 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 US. The preparation of these financial statements
requires us to make estimates and judgments that affect the reported amounts of
assets, liabilities, revenues and expenses. We base our estimates upon
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. If the Company should merge
with an existing pharmaceutical company, our accounting policies will include:




                                       10
<PAGE>

        Revenue Recognition. Our revenue recognition policies will be in
accordance with the Securities and Exchange Commission Staff Accounting Bulletin
(SAB) 101, Revenue Recognition in Financial Statements. SAB 101 provides
guidance related to revenue recognition based on the interpretations and
practices developed by the Securities and Exchange Commission. Some of our
future pharmaceutical manufacturing agreements may contain multiple elements,
including "downstream milestones" and royalty obligations.


        If revenues are to occur from "milestones", cash flow is recognized when
earned, as evidenced by written acknowledgment from our collaborator, provided
that (i) the milestone event is substantive and its achievability was not
reasonably assured at the inception of the agreement, and (ii) our performance
obligations after the milestone achievement will continue to be funded by our
collaborator at a comparable level to, or before the milestone achievement. If
both of these criteria are not met, the milestone payment can be recognized over
the remaining minimum period of our performance obligations under the agreement.
If upfront fees are to be negotiated in any future contracts, they can be
recognized over a period of time relative to the services to be provided.


        Goodwill and Intangibles. Purchase accounting requires accounting
estimates and judgments to allocate the purchase price of any future acquisition
to the fair market value of the assets and liabilities purchased. Any future
acquired technology can be amortized over its useful life. The estimated useful
life can be determined based on an analysis, as of any acquisition date, of
conditions in, and the economic outlook for, the pharmaceutical industries and
the patent life of that specific technology. As with any intangible asset, we
will evaluate the value of the technology and, if necessary, we will have a
future write-down of the carrying value of the technology. If it should be
determined that any technology has become impaired, that may accelerate the
amortization of any technology if it should be deemed that its life has been
shortened.


        Income Taxes. At present, the Company has yet to commence any
operations, and does not own any intellectual properties whatsoever. Since its
inception, the Company has not had any revenues or earnings however, it is
contemplated that once business operations begin, we could record a valuation
allowance, in order to reduce our deferred tax assets. More consideration on
future taxable income and feasible tax planning strategies in assessing the need
for a valuation allowance will be had once a successful merger is completed.


        The above is not intended to be a comprehensive list of all or any of
our present or future accounting policies. In many cases, the accounting
treatment of a particular transaction is specifically dictated by generally
accepted accounting principles, with no need for management's judgment in their
application. There are also areas in which management's judgment in selecting
any available alternative would not produce a materially different result. See
our audited consolidated financial statements and notes thereto in this Report
on Form 10k which contain accounting policies and other disclosures required by
generally accepted accounting principles.


OVERVIEW

        As explained in previous portions of this Form 10k, Inamco International
Corp. ("Inamco", the "Company", "Registrant") was incorporated in Delaware on
January 17, 1993 originally as Omni Assets, Inc. ("Omni). Omni, at the time of
its inception, was established to operate as a financial consultant. Its clients
were to be other companies that needed assistance in management, mergers and/or
acquisitions, as well as the arrangement of financing, by either the
introduction of the client into the private sector or by arranging a public
offering, with investment banking concerns, on the clients behalf.

        In September of 1999, negotiations between Mr. Varges George, the
president of Inamco Services Corp., and the directors and majority shareholders
of Omni began. All collaborations between the parties focused upon an entity, to
be owned by Mr. George, successfully merging with Omni. There was also a mutual
understanding between the parties that Royal Capital Corp. ("Royal"), a
consulting company to be retained, would act as a consultant and familiarize
itself with the merger between the two companies.



                                       11
<PAGE>

        On October 26, 1999, Inamco International Corp., a Delaware Corporation
being incorporated on the 18th day of October 1999, and being exclusively owned
by Mr. George, merged with Omni in a transaction solely for stock. Pursuant to
the merger agreement, 1000 shares of Inamco International Corp., were exchanged
for 22,712,500 shares of Omni. Once the merger was completed, Inamco
International Corp., terminated its corporate existence and, in February of
2000, the name of Omni was changed to Inamco International Corp.

        In October of 1999, a formal agreement was entered into with Royal. This
agreement paid Royal for consultation services connected with the merger of the
two companies. In consideration for those services, Inamco agreed to pay
1,355,365 shares of its restricted common stock to Royal and/or it designees.

        In January of 2000, preliminary steps were taken to measure the
feasibility of a merger and/or acquisition of Medicos Laboratories, Inc.
("Medicos") by Inamco. Medicos, being a generic pharmaceutical manufacturing
company, that is also exclusively owned by Mr. Varges George, was deemed to be
too much in its infancy stage to be a realistic merger candidate. It did not
have all of its laboratory equipment, proper FDA and Good Manufacturing
Procedures certification(s), and/or any revenue producing contractual
agreements. It was recommended that any arrangements to merge the two companies
be halted, until such time, if any, that Medicos could become an operational
pharmaceutical concern.

        In February of 2000, the Company entered into a collaborative agreement
with Royal, so that Royal could provide certain services to Inamco on a
non-exclusive and best efforts basis. Royal contracted to familiarize itself
with the business operations, prospects and management of Inamco, and make
certain recommendations in order to enhance the marketing of any future
products. In consideration of the foregoing, Inamco immediately agreed to tender
a total of 1,000,000 shares of its common stock to Royal and/or its designees.

        In March of 2000, Inamco began to compensate Royal, as per their
contractual obligations. In the month of March, Inamco issued a total of
1,170,000 restricted common shares to Royal and/or their assigns.

        In May of 2000, Inamco continued their compensation to Royal with an
additional issuance of 1,000,000 shares of restricted common stock to Royal
and/or their assigns.

        In November of 2000, Inamco finalized the compensation to Royal with a
final issuance of 185,365 shares of restricted common stock to Royal and/or
their assigns.

        The Company began to initiate certain internal business procedures by
retaining the services of a lawyer and the consulting services of an investment
banker. The Company agreed to issue 25,000 and 68,245 shares of restricted
common stock, respectably, to each. For legal services rendered, shares were
issued in May of 2000, and in November of 2000, shares were issued for
consultation services (descriptions of which can be found in other sections of
this Form 10k).

        Since the Company's inception, the ability to achieve and identify
certain goals or objectives has been dependent upon many factors, some of which
are out of the Company's control. The ability of the Company to merge with an
operating pharmaceutical company will depend upon many factors, including the
identification of a proper merger candidate, the size of any future
collaborations, the success rate of future marketing strategies, and general and
industry-specific economic conditions which may affect any and all future
business expenditures. As a consequence, the likelihood of the Company to
produce any revenues in the future is dependent solely on a merger and/or
acquisition, the success of which may never be achieved.

YEAR ENDED DECEMBER 31, 2002 COMPARED TO THE YEAR ENDED DECEMBER 31, 2001




                                       12
<PAGE>

        Revenues. We recorded no revenues for this time frame, and you should
read the following in conjunction with the Company's "Financial Statements and
Supplementary Data" included elsewhere in this Form 10k.


        Research and Development Expenses. There has been no Research and
development expenses, and the following should be read with the Company's
"Financial Statements and Supplementary Data" included elsewhere in this Form
10k.


        General and Administrative Expenses. General and administrative expenses
increased $8,701 to $9,226 for the year ended December 31, 2002 from $525 for
the year ended December 31, 2001. The increase was a result of general and
administrative expenses for Inamco, which consisted primarily of professional
fees and other general corporate expenses. We expect that our general and
administrative expenses will increase to support our growth and requirements as
a public company.


        Amortization of Deferred Compensation. There has been no Amortization of
Deferred Compensation for the Company, and the following should be read with the
"Financial Statements and Supplementary Data" included elsewhere in this Form
10k.


        Interest Income. Interest income was nominal for the year ended December
31, 2002 and the year ended December 31, 2001. This was due to a nominal cash
balance that did not exceed $950, at any given time, within the Company's
primary corporate account.


        Interest Expense. Interest expense was nominal for the year ended
December 31, 2002 and the year ended December 31, 2001. This was due to a
nominal cash balance that did not exceed $950, at any given time, within the
Company's primary corporate account.


        Gain on Investment. We recorded no Gains on Investment for this time
frame, for the Company does not own any long-term or short-term liquid financial
instruments, and you should read the following in conjunction with the Company's
"Financial Statements and Supplementary Data" included elsewhere in this Form
10k.


        Other Income. We reported no Other Income for this time frame, and you
should read the following in conjunction with the Company's "Financial
Statements and Supplementary Data" included elsewhere in this Form 10k.

        Non-Cash Preferred Stock Charge. We recorded no non-cash preferred stock
charge for this time frame, and you should read the following in conjunction
with the Company's "Financial Statements and Supplementary Data" included
elsewhere in this Form 10k.


YEAR ENDED DECEMBER 31, 2001 COMPARED TO THE YEAR ENDED DECEMBER 31, 2000


         Revenues. We recorded no revenues for this time frame, and you should
read the following in conjunction with the Company's "Financial Statements and
Supplementary Data" included elsewhere in this Form 10k.


        Research and Development Expenses. There has been no Research and
development expenses, and the following should be read with the Company's
"Financial Statements and Supplementary Data" included elsewhere in this Form
10k.


        General and Administrative Expenses. General and administrative expenses
decreased $11,847 to $525 for the year ended December 31, 2001 from $12,372 for
the year ended December 31, 2000. The decrease was a result of the completion of
the merger as explained in other sections of this Form 10k. General and
administrative expenses for Inamco consist primarily of professional fees and
other general corporate expenses. We expect that our general and administrative


                                       13
<PAGE>

expenses will increase to support our growth and requirements as a public
company.


        Amortization of Deferred Compensation. There has been no Amortization of
Deferred Compensation for the Company, and the following should be read with the
"Financial Statements and Supplementary Data" included elsewhere in this Form
10k.


        Interest Income. Interest income was nominal for the year ended December
31, 2001 and the year ended December 31, 2000. This was due to a nominal cash
balance that did not exceed $350, at any given time, within the Company's
primary corporate account.


        Interest Expense. Interest expense was nominal for the year ended
December 31, 2001 and the year ended December 31, 2000. This was due to a
nominal cash balance that did not exceed $350, at any given time, within the
Company's primary corporate account.


        Gain on Investment. We recorded no Gains on Investment for this time
frame, for the Company does not own any long-term or short-term liquid financial
instruments, and you should read the following in conjunction with the Company's
"Financial Statements and Supplementary Data" included elsewhere in this Form
10k.


        Other Income. We reported no Other Income for this time frame, and you
should read the following in conjunction with the Company's "Financial
Statements and Supplementary Data" included elsewhere in this Form 10k.


        Non-Cash Preferred Stock Charge. We recorded no non-cash preferred stock
charge for this time frame, and you should read the following in conjunction
with the Company's "Financial Statements and Supplementary Data" included
elsewhere in this Form 10k.


LIQUIDITY AND CAPITAL RESOURCES


        Liquidity refers to our ability to generate adequate amounts of cash to
meet our needs. We have been generating the cash necessary to fund our
operations from continual loans from the president and chief operating officer
of the Company, Mr. Varges George. We have incurred a loss in each year since
inception, and we expect to incur substantial losses for at least the next
several years. We expect that losses may fluctuate, and that such fluctuations
may be substantial. As of December 31, 2002, we had an accumulated deficit of
$35,624. Our accumulated deficit is the result of expenses incurred in
connection with our general and administrative costs, as well as the cost to
support the growth and requirements as a public company.


        Potential immediate sources of liquidity are the continual loans from
Mr. George. Another potential source of liquidity is the sale of restricted
shares of our common stock.


        As of December 31, 2002, we had $927 in cash compared to $38 in cash as
of December 31, 2001. The increase of $889 is primarily attributable to loans
provided for by the Company's president.


        Net cash used in operating activities was approximately $5,279 during
the year ended December 31, 2002. The primary use of cash for the year ended
December 31, 2002 was to fund general and administrative costs, as well as the
cost to support the growth and requirements as a public company. Our net loss in
the period, adjusted for non-cash expenses, amortization, and changes in
operating assets and liabilities. Net cash used in operating activities was
approximately $525 during the year ended December 31, 2001.




                                       14
<PAGE>

        Net cash provided by loans from Mr. George was approximately $6,168
during the year ended December 31, 2002. Net cash proceeds from loans by Mr.
George were $525 during the year ended December 31, 2001. Mr. George received
loan repayments of $300 during the year ended December 31, 2001.


        Since the Company is in the development stage as defined in Financial
Accounting Standards Board Statement No.7, and is a non-operating public shell,
meaning it has not commenced full-scale operations and has insignificant assets
and liabilities, we presently share an address with Inamco Services, Corp. At
present, the Company has no lease and pays no rent; our address is 801 Montrose
Avenue, South Plainfield, New Jersey, 07080.


        Based on the possibility of a merger between Inamco and a pharmaceutical
company, we would expect to hire between 35 to 50 employees, primarily research
scientists and development staff. This is based off of the average industry
standard for a generic pharmaceutical company and the amount of employees that
they employ. While we believe that our current capital resources and anticipated
cash flows from a merger will not be sufficient to meet any future capital
requirements, we understand that additional financing will be needed. The
estimated length of time current cash and available borrowings will sustain our
operations is based on estimates and assumptions we have made. These estimates
and assumptions are subject to change at any time. We cannot assure you that
adequate funding will be available to us or, if available, that such funding
will be available on acceptable terms. Any shortfall in funding could result in
the curtailment of any merger activities.


INCOME TAXES

        As of December 31, 2002, we had approximately $36,000 of net operating
losses for federal income tax purposes. These amounts reflect different
treatment of expenses for tax reporting than is used for financial reporting.
United States tax law contains provisions that may limit our ability to use net
operating losses in any year, or if there has been a significant ownership
change. Any future significant ownership change may limit the use of our net
operating losses.


ITEM 7A.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

         The Company is not exposed to any market risk due to the fact that it
does not own any risk sensitive instruments; all cash is used solely for the
purpose of maintaining a minimum balance within a corporate bank account and the
fluctuations that interest rates play on that cash is immaterial.


ITEM 8. FINANCIAL STATEMENTS.

<TABLE>
<CAPTION>

                           INAMCO INTERNATIONAL CORP.
                          INDEX TO FINANCIAL STATEMENTS
                                                                               PAGE
                                                                               ----

<S>                                                                              <C>
Report of Kahn Boyd Levychin & Company, Independent Auditors                    F1
Consolidated Balance Sheets                                                     F2
Consolidated Statements of Operations                                           F3
Consolidated Statements of Stockholders' Equity (Deficit)                       F4
Consolidated Statements of Cash Flows                                           F5
Notes to Consolidated Financial Statements                                    F6-F7
</TABLE>

                                       15
<PAGE>

INAMCO INTERNATIONAL CORP.
(A DEVELOPMENT STAGE COMPANY)

YEARS ENDED DECEMBER 31, 2002, 2001 AND 2000




Report of Independent Certified Public Accountants     F1


Financial Statements:

     Balance Sheets                                    F2

     Statements of Operations                          F3

     Statements of Cash Flows                          F4

     Statements of Stockholders' Deficiency            F5

Notes to Financial Statements                       F6-F7






                                       -F-

<PAGE>





               REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
               --------------------------------------------------


BOARD  OF  DIRECTORS  AND  STOCKHOLDERS
INAMCO  INTERNATIONAL  CORP.

We  have audited the accompanying balance sheet of INAMCO INTERNATIONAL CORP. (A
Development  Stage  Company)  as  of  December  31, 2002, 2001 and 2000, and the
related  statements  of operations, stockholders' equity, and cash flows for the
years  then  ended.  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 INAMCO INTERNATIONAL CORP., as
of  December  31, 2002, 2001 and 2000, and the results of its operations and its
cash  flows  for  the  years then ended in conformity with accounting principles
generally  accepted  in  the  United  States  of  America.

The  accompanying  financial  statements  have  been  prepared assuming that the
Company  will  continue  as  a  going  concern.  As  discussed  in Note A to the
financial  statements,  the Company had a loss from operations and has a working
capital deficiency, raising substantial doubt about its ability to continue as a
going concern.  Management's plans in regard to these matters are also described
in  Note  A. The financial statements do not include any adjustments relating to
the  recoverability  and classification of asset carrying amounts or the amounts
and  classifications  of  liabilities  that  might  result should the Company be
unable  to  continue  as  a  going  concern.




KAHN  BOYD  LEVYCHIN,  LLP

New  York,  New  York
March  31,  2003





                                      -F1-

<PAGE>


 INAMCO INTERNATIONAL CORP.
 (A DEVELOPMENT STAGE COMPANY)
 BALANCE SHEETS
 December 31, 2001, 2002 and 2000

<TABLE>
<CAPTION>
                                                                December 31,
                                                               ------------
                                                      2002         2001       2000
                                                      -----       -----       ----
<S>                                                 <C>         <C>         <C>
ASSETS
     Current Assets
           Cash                                     $    927    $     38    $    343
                                                    --------    --------    --------
                 Total Current Assets                    927          38         343
     Other Assets                                        213         213         213
                                                    --------    --------    --------
                 Total Assets                       $  1,140    $    251    $    556
                                                    ========    ========    ========


LIABILITIES AND STOCKHOLDERS' DEFICIENCY

LIABILITIES
     Current Liabilities
           Accounts payable and accrued expenses    $  5,615    $  1,668    $  1,148
                                                    --------    --------    --------
                 Total Current Liabilities             5,615       1,668       1,148
     Due to Officer/Shareholder                        8,069       1,900       2,200
                                                    --------    --------    --------
                 Total Liabilities                    13,684       3,568       3,348

STOCKHOLDERS' DEFICIENCY
     Common Stock, $.00001 par value
           Authorized: 50,000,000 shares
           Issued and Outstanding: 27,600,000            276         276         276
     Additional paid-in capital                       22,804      22,804      22,804
     Deficit Accumulated in the Development Stage    (35,624)    (26,397)    (25,872)
                                                    --------    --------    --------
                 Total Shareholders' Deficiency      (12,544)     (3,317)     (2,792)
                                                    --------    --------    --------
                                                    $  1,140    $    251    $    556
                                                    ========    ========    ========


</TABLE>

          THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
                                      -F2-
<PAGE>
 INAMCO INTERNATIONAL CORP.
 (A DEVELOPMENT STAGE COMPANY)
 STATEMENTS OF OPERATIONS
 Years Ended December 31, 2002, 2001 and 2000

<TABLE>
<CAPTION>

                                                     Inception
                                                 January 17, 1993 to          Year Ended December 31,
                                                                              -----------------------
                                                 December 31,2002        2002            2001            2000
                                                 ----------------        ----            ----            ----
<S>                                              <C>                 <C>             <C>             <C>
Net Sales                                        $              -    $          -    $          -    $          -
Cost of Goods Sold                                              -               -               -               -
                                                 ----------------    ------------    ------------    ------------
      Gross Profit                                              -               -               -               -

Costs and Expenses
      Bank Charges and Miscellaneous                        2,967           1,226             525           1,215
      Professional and Consulting Fees                     32,657           8,000               -          11,157
                                                 ----------------    ------------    ------------    ------------
                                                           35,624           9,226             525          12,372
                                                 ----------------    ------------    ------------    ------------

Net Loss                                         $        (35,624)   $     (9,226)   $       (525)   $    (12,372)
                                                 ================    ============    ============    ============

Weighted Avereage Number of Shares Outstanding          9,323,472      27,600,000      27,600,000      25,871,020
                                                 ----------------    ------------    ------------    ------------

Loss Per Share                            (A)    $         (0.00)    $      (0.00)   $      (0.00)   $     (0.00)
                                                 ================    ============    ============    ============

      (A) Loss per share less that $.01

</TABLE>


          THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
                                      -F3-
<PAGE>
 INAMCO INTERNATIONAL CORP.
 (A DEVELOPMENT STAGE COMPANY)
 STATEMENTS OF CASH FLOWS
 December 31, 2001 and 2000
<TABLE>
<CAPTION>

                                                                  Inception
                                                              January 17, 1993 to       Year Ended December 31,
                                                                                        -----------------------
                                                               December 31,2002       2002        2001       2000
                                                              ------------------      ----        ----        ----
<S>                                                           <C>                   <C>         <C>         <C>
Cash flows from operating activities:
      Net loss                                                $          (35,624)   $ (9,226)   $   (525)   $(12,372)
      Adjustments to reconcile net loss to net cash used in
      operating activities
          Change in accrued expenses                                       5,615       3,947         520       1,148
                                                              ------------------    --------    --------    --------
                     Net cash used for operating activities              (30,009)     (5,279)         (5)    (11,224)
                                                              ------------------    --------    --------    --------
Cash flows from investing activities:
      Change in other assets                                                (213)          -           -        (213)
                                                              ------------------    --------    --------    --------
                     Net cash used for investing activities                 (213)          -           -        (213)
                                                              ------------------    --------    --------    --------
Cash flows from financing activities:
      Loans from officer/shareholder, net of repayments                    8,068       6,168        (300)      2,200
      Restricted common stock issued in payment of expenses               22,868           -           -       9,367
      Issuance of restricted common stock in connection
      with merger agreement                                                  213           -           -         213
                                                              ------------------    --------    --------    --------
                     Net cash provided by financing activities            31,149       6,168        (300)     11,780
                                                              ------------------    --------    --------    --------
              NET INCREASE (DECREASE) IN CASH                                927         889        (305)        343
      Cash at beginning of period                                              -          38         343           -
                                                              ------------------    --------    --------    --------

      Cash at end of period                                   $              927    $    927    $     38    $    343
                                                              ==================    ========    ========    ========
</TABLE>



          THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
                                      -F4-
<PAGE>
 INAMCO INTERNATIONAL CORP.
 (A DEVELOPMENT STAGE COMPANY)
 STATEMENTS OF STOCKHOLDERS' EQUITY
 Inception January 17, 1993 to December 31, 2002
<TABLE>
<CAPTION>
                                                                                             Deficit
                                                                                            Accumulated
                                                                              Additional      in the
                                              Common Stock $.00001 Par Value     Paid-In   Development
                                                       Shares     Amount        Capital        Stage        Total
                                                   ----------   ----------    ---------    ----------    ----------
<S>                                                   <C>       <C>           <C>          <C>           <C>
Issuance of restricted common stock for services      437,500   $        4    $   1,996    $        -    $    2,000
Net Loss for the year ended December 31, 1983               -            -            -        (2,000)       (2,000)
                                                   ----------   ----------    ---------    ----------    ----------

        Balance at December 31, 1983                  437,500            4        1,996        (2,000)            -
Issuance of restricted common stock for services    1,850,000           19       11,481        11,500
Net Loss for the year ended December 31, 1997               -            -            -        (11,500      (11,500)
                                                   ----------   ----------    ---------    ----------    ----------

        Balance at December 31, 1997                2,287,500           23       13,477       (13,500)            -
Net Loss for the year ended December 31, 1998               -            -            -             -             -
                                                   ----------   ----------    ---------    ----------    ----------

        Balance at December 31, 1998                2,287,500           23       13,477       (13,500)            -
Net Loss for the year ended December 31, 1999               -            -            -             -             -
                                                   ----------   ----------    ---------    ----------    ----------

        Balance at December 31, 1999                2,287,500           23       13,477       (13,500)            -

Net Loss for the year ended December 31, 2000               -            -            -       (12,372)      (12,372)
Issuance of restricted common stock for services    2,600,000           26        9,327             -         9,353
Issuance of restricted common stock in
connection with agreement                          22,712,500          227            -             -           227
                                                   ----------   ----------    ---------    ----------    ----------

        Balance at December 31, 2000               27,600,000          276       22,804       (25,872)       (2,792)
Net Loss for the year ended December 31, 2001               -            -            -          (525)         (525)
                                                   ----------   ----------    ---------    ----------    ----------

        Balance at December 31, 2001               27,600,000          276       22,804       (26,397)       (3,317)
Net Loss for the year ended December 31, 2002               -            -            -        (9,227)       (9,227)
                                                   ----------   ----------    ---------    ----------    ----------

        Balance at December 31, 2002               27,600,000   $      276     $ 22,804    $ (35,624)    $  (12,544)
                                                   ==========   ==========    =========    ==========    ==========
</TABLE>

          THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT
                                      -F5-

<PAGE>
INAMCO INTERNATIONAL CORP.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
Years Ended December 31, 2002, 2001 and 2000


NOTE A - ORGANIZATION AND BASIS OF PREPARATION

Inamco  International  Corp.  ("the  Company")  was  incorporated in Delaware on
January  17, 1983 originally as Omni Assets, Inc. ("Omni"). On October 26, 1999,
Inamco  International Corp. ("Inamco"), a Delaware corporation, merged with Omni
in  a  transaction  solely  for  stock.  Pursuant to the merger agreement, 1,000
shares  of  the  original  Inamco  were exchanged for 22,712,500 shares of Omni,
Inamco  terminated  its  corporate  existence and, in February 2000, the name of
Omni  was  changed  to  Inamco  International  Corp.

The Company's financial statements have been presented on a going concern basis,
which contemplates the realization of assets and the satisfaction of liabilities
in  the  normal  course  of business.  The Company has no significant assets, no
revenues  and  has  had  losses  since inception.  The Company can only become a
viable  going  concern  if  it  obtains additional capital and acquires a viable
operating  company.


NOTE  B  -  SUMMARY  OF  ACCOUNTING  POLICIES

A  summary  of  the  significant accounting policies consistently applied in the
preparation  of  the  accompanying  financial  statements  follows.

1.  BASIS OF ACCOUNTING

Financial statements are prepared on the accrual basis of accounting.

2.  USE OF ESTIMATES

In  preparing  financial  statements  in  conformity  with accounting principles
generally  accepted  in  the United States of America, management is required to
make  estimates  and  assumptions that affect the reported amounts of assets and
liabilities  and the disclosure of contingent assets and liabilities at the date
of  the  financial  statements  and  revenues  and expenses during the reporting
period.  Actual  results  could  differ  from  those  estimates.

3.  CASH  AND  CASH  EQUIVALENTS

The  Company  considers  all  highly  liquid investments purchased with original
maturities  of  three  months  or  less  to  be  cash  equivalents.

4.  INCOME TAXES

The  Company  accounts  for  income  taxes  under the provisions of Statement of
Financial  Accounting  Standards  No.  109,  Accounting  for  Income Taxes. This
statement  requires,  among  other  things,  an asset and liability approach for
financial  accounting  and  reporting of deferred income taxes. In addition, the
deferred  tax  liabilities and assets are required to be adjusted for the effect
of  any future changes in the tax law or rates. Deferred income taxes arise from
temporary  differences  resulting  in  the  basis  of assets and liabilities for
financial  reporting  and income tax purposes. A valuation allowance is provided
if  the  Company  is  uncertain  as  to  the realization of deferred tax assets.

                                      F-6
<PAGE>
INAMCO INTERNATIONAL CORP.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
Years Ended December 31, 2002, 2001 and 2000

5.  LOSS PER SHARE

Statement of Financial Accounting Standards No. 128 (SFAS No. 128), Earnings per
Share,  specifies  the computation, presentation and disclosure requirements for
earnings  per  share  for  entities with publicly held common stock or potential
common  stock.

Net  loss per common share - basic and diluted is determined by dividing the net
loss  by  the  weighted  average  number  of shares of common stock outstanding.

NOTE C - DEVELOPMENT STAGE COMPANY

The  Company  is  in  the  development  stage as defined in Financial Accounting
Standards  Board Statement No. 7. It has not commenced full scale operations and
has  insignificant  assets and liabilities. Since inception, the Company did not
have any revenues or earnings. The future success of the Company is dependent on
obtaining a viable business opportunity and /or merger candidate. The Company is
seeking  a  merger  candidate  who  manufactures and distributes certain generic
over-the-counter  drugs.  Management is seeking additional investment capital to
support  its  entrance  into  a  new  business  opportunity  or  merger.

NOTE D - RELATED PARTY TRANSACTIONS

1.  DUE TO OFFICER/SHAREHOLDER

Since  the  merger  in  1999, Varges George, President and majority shareholder,
loaned  the  Company  $8,068  ($2,800 in 2000 and $6,168 in 2002) for payment of
operating  expenses.  The  Company  has paid back $900 ($600 in 2000 and $300 in
2001)  leaving  a  balance  of  $8,068  at  December  31,  2002.

NOTE E - INCOME TAXES

Temporary  differences  and  carryforwards  give rise to deferred tax assets and
liabilities.  The  principal components of the deferred tax assets relate to net
operating  loss  carryforwards.  At December 31, 2002, the Federal net operating
loss  carryforwards  were  approximately  $36,000.  The  net  operating  loss
carryforwards  expire  at  various  dates  through  2022,  and  because  of  the
uncertainty  in  the  Company's  ability  to  utilize  the  net  operating  loss
carryforwards,  a  full  valuation  allowance was provided at December 31, 2002,
2001  and  2000.  Corporate  income  tax returns have not been filed since 1999.

                                      F-7
<PAGE>

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE.

        None.


ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT.

        The information required by this item is incorporated herein by
reference from the information under the caption "Election of Directors" and the
caption "Compensation And Other Information Concerning Officers, Directors And
Certain Stockholders" and the caption "Section 16(a) Beneficial Ownership
Reporting Compliance" contained in the Proxy Statement.

ITEM 11. EXECUTIVE COMPENSATION.

        The information required by this item is incorporated herein by
reference from the information under the caption "Compensation And Other
Information Concerning Officers, Directors And Certain Stockholders" under the
caption "Compensation Committee Interlocks and Insider Participation" contained
in the Proxy Statement.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

        The information required by this item is incorporated herein by
reference from the information under the caption "Security Ownership Of Certain
Beneficial Owners And Management" contained in the Proxy Statement.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

        The information required by this item is incorporated herein by
reference from the information under the caption "Compensation And Other
Information Concerning Officers, Directors And Certain Stockholders"
specifically under the subheading "Certain Relationships and Related
Transactions" contained in the Proxy Statement.

ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K.

(a) 1. Financial Statements.

        Reference is made to the Index to Financial Statements under Item 8,
Part II hereof.

     2. Financial Statement Schedules.

        The Financial Statement Schedules have been omitted either because they
are not required or because the information has been included in the notes to
the Financial Statements included in this Report on Form 10k.


3.
         EXHIBITS:

                                       16
<PAGE>



EXHIBIT NO.                                            DESCRIPTION
--------------                                         -----------
                None.

(b) Reports on Form 8-K

None.

(c) Exhibits

See Item 14(a)(3) above.

(d) Financial Statement Schedules

See Item 14(a)(2) above.


                                   SIGNATURES

        Pursuant to the requirements of 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, on April 8, 2003.
Inamco International Corp.
A Delaware Corporation

By:    /s/  VARGES GEORGE
   --------------------------------
       Varges George
       Chief Executive Officer

         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 indicated on April 8, 2003.

SIGNATURES                                TITLE
----------                                -----


By:    /s/  VARGES GEORGE                 President, Chief Executive
   ----------------------------           Officer and Director
       Varges George


                                       17
<PAGE>