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

                                   Form 10-KSB


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



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

             For the transition period from January 1, 2003 to June
                     30, 2003 Commission File No.: 000-49705

                                 GBO CORPORATION
--------------------------------------------------------------------------------
                 (Name of small business issuer in its charter)

             Nevada                                      86-0011246
--------------------------------------------------------------------------------
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
 incorporation or organization)


                             4213 North Tabor Street
                               Mesa, Arizona 85215
--------------------------------------------------------------------------------
          (Address, including zip code, of principal executive offices)


Issuer's telephone number (602) 267-3855

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

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


                     Common Stock, Par Value $.001 Per Share
                     ---------------------------------------
                                (Title of class)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports),  and (2) has been
subject to such filing requirements for the past 90 days. [ X ]Yes[ ]No

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

(1)  Filed and  incorporated  by reference  on that  certain Form 10SB12G  filed
     March 25, 2002.

                                       1
<PAGE>

State issuer's revenues for its most recent fiscal year.  $ 0

As of June 30,  2003,  we had  20,000,000  shares of our $0.001 par value common
stock  issued  and  outstanding.  As there is no public  trading  market for our
securities,  we are unable to determine the aggregate market value of the common
stock, our only class of voting stock, held by nonaffiliates.

                       DOCUMENTS INCORPORATED BY REFERENCE
                                      None

Transitional Small Business Disclosure Form (Check one): Yes [ ] No [X]

To simplify  the language in this Form 10-KSB,  GBO  Corporation  is referred to
herein as the "Company" or "We."



                                TABLE OF CONTENTS
                                -----------------
ITEM                                                                       Page
PART I
    Item 1.  Description of Business ........................................  3
    Item 2.  Description of Properties ......................................  3
    Item 3.  Legal Proceedings ..............................................  3
    Item 4.  Submission of Matters to a Vote of Security Holders ............  3
    Item 5.  Market for Common Equity and Related Stockholders Matters ......  3
    Item 6.  Management Discussion and Analysis of Financial Condition
             & Results of Operation .........................................  4
    Item 7.  Financial Statements ...........................................  4
    Item 8.  Changes in and Disagreements with Accountants on Accounting
             and Financial Disclosure .......................................  4

PART II
    Item 9.  Directors, Executive Officers, Promoters and Control Persons ...  5
             , Compliance with Section 16(a) of the Exchange Act ............  5
    Item 10. Executive Compensation .........................................  5
    Item 11. Security Ownership of Certain Beneficial Owners and
             Management .....................................................  5
    Item 12. Certain Relationships and Related Transactions .................  6
    Item 13. Exhibits and Reports on Form 8-K ...............................  6
FINANCIAL STATEMENTS .................................................... 7 - 16
SIGNATURES .................................................................. 17
CERTIFICATIONS ......................................................... 18 - 19
                                       2
<PAGE>

                                     PART I

ITEM 1. DESCRIPTION OF BUSINESS.

                                   The Company

GBO Corporation  (the "Company") is a Nevada  corporation  formed on January 18,
2002. Its principal place of business is located at 4213 N. Tabor Street,  Mesa,
Arizona  85215.  The Company  was  organized  to engage in any lawful  corporate
business,  including but not limited to,  participating in mergers with, and the
acquisitions  of,  other  companies.  The Company has been in the  developmental
stage since its inception and has no operating history other than organizational
matters.

                             Business of the Company

The  primary  activity of the Company  currently  involves  seeking a company or
companies  that it can  acquire or with whom it can merge.  The  Company has not
selected  any company as an  acquisition  target or merger  partner and does not
intend to limit potential  candidates to any particular  field or industry,  but
does retain the right to limit  candidates,  if it so chooses,  to a  particular
field or industry. The Company's plans are in the conceptual stage only.


                                    Employees

The  Company's  only  employee  at the  present  time is its  sole  officer  and
director,  who will devote as much time as he determines  necessary to carry out
the affairs of the Company.

ITEM 2. DESCRIPTION OF PROPERTIES

The Company has no significant assets, property, or operating capital.

ITEM 3. LEGAL PROCEEDINGS

The Company is not a party to, nor are any of its properties the subject of, any
pending legal proceedings and no such proceedings are known to the Company to be
threatened or contemplated by or against it.

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

No  matter  was  submitted  to  a  vote  of  the  security  holders  during  the
transitional period covered by this report.

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

                                     Market

To the knowledge of current  management,  there is no public  trading market for
the Company's common stock

                                     Holders

At June 30, 2003, there were approximately 66 holders of record of the Company's
common stock.

                                       3
<PAGE>

                                    Dividends

The Company has not declared any cash dividends within the past two years of its
common stock, nor does the Company anticipate or contemplate paying dividends in
the foreseeable future.


ITEM 6. MANAGEMENT'S  DISCUSSION & ANALYSIS OF FINANCIAL  CONDITION & RESULTS OF
        OPERATION

                                Plan of Operation

The Company's plan is to seek, investigate,  and if such investigation warrants,
acquire an interest in one or more  business  opportunities  presented  to it by
persons  or  firms  desiring  the  perceived   advantages  of  a  publicly  held
corporation.  At this  time,  the  Company  has no  plan,  proposal,  agreement,
understanding,  or arrangement to acquire or merge with any specific business or
company, and the Company has not identified any specific business or company for
investigation  and  evaluation.  No member of  Management or any promoter of the
Company,  or an affiliate of either,  has had any material  discussions with any
other company with respect to any acquisition of that company.  The Company will
not restrict  its search to any specific  business,  industry,  or  geographical
location,  and may  participate  in business  ventures of virtually  any kind or
nature.  Discussion of the proposed  business  under this caption and throughout
this Financial  Statement is  purposefully  general and is not meant to restrict
the  Company's  virtually  unlimited  discretion  to search for and enter into a
business combination.

                           Forward-Looking Statements

This  statement  includes  projections  of future  results and  "forward-looking
statements" as that term is defined in Section 27A of the Securities Act of 1933
as amended (the "Securities  Act"),  and Section 21E of the Securities  Exchange
Act of 1934 as amended (the "Exchange Act"). All statements that are included in
this  Financial  Statement,  other  than  statements  of  historical  fact,  are
forward-looking  statements.  Although Management believes that the expectations
reflected in these  forward-looking  statements are  reasonable,  it can give no
assurance  that such  expectations  will prove to have been  correct.  Important
factors  that  could  cause  actual  results  to  differ   materially  from  the
expectations are disclosed in this Statement,  including, without limitation, in
conjunction with those forward-looking statements contained in this Statement.


ITEM 7. FINANCIAL STATEMENTS

See attached audited financial statements

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

The Company is not aware, and has not been advised by its auditors, of any
disagreement on any matter of accounting principles or practices, financial
statement disclosures, or auditing scope or procedure.


                                       4
<PAGE>

                                     PART II

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

At June 30, 2003, the Directors and Officers of the Company are as follows:

Name                       Age                       Positions and Offices Held

William D. O'Neal          43                        Director/President
                                                     Secretary/Treasurer

William D. O'Neal, 43 years of age, is the sole Officer and Director. Mr. O'Neal
has served as our Sole  Director  since  January 18,  2002 His  current  term as
Director  expires,  subject to re-election,  on January 17, 2004. Mr. O'Neal has
served as President  since his election on January 18, 2002.  Mr. O'Neal holds a
B.A. degree from Berklee College of Music, and a J.D. degree from the University
of Oregon School of Law. He has been a practicing  attorney since 1991. Over the
past five (5) years,  Mr.  O'Neal  has  served as General  Counsel to a publicly
traded corporation in Phoenix, Arizona, and is the sole owner of a Phoenix-based
private law firm.  Mr.  O'Neal is a member in good  standing of the State Bar of
Arizona.

                Compliance with Section 16(a) of the Exchange Act

The Company does not have a class of equity  securities  registered  pursuant to
Section 12 of the Exchange Act. As a result, no reports are required to be filed
pursuant to Section 16(a).

ITEM 10. EXECUTIVE COMPENSATION

During the  transitional  period  covered by this  report,  the  Company's  sole
officer and  director  did not receive any salary,  wage or other  compensation.
During the current fiscal year, the Company has no present plans or means to pay
compensation to its sole officer and director.

ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS & MANAGEMENT

As of June 30, 2003, there were 20,000,000 shares of our common stock, $.001 par
value outstanding. The following tabulates holdings of our shares by each person
who, subject to the above, at the date of this registration,  holds of record or
is known by our  management  to own  beneficially  more than 5.0% of the  common
shares and, in addition,  by all of our directors and officers  individually and
as a group. To the best of our knowledge,  each named  beneficial owner has sole
voting and  investment  power with respect to the shares set forth  opposite his
name.

Security Ownership of Beneficial Owners:

Beneficial Owner    Class     Amount       Nature of Ownership      Percentage
----------------    -----     ------       -------------------      ------------
William D. O'Neal   Common    19,120,000   Direct                   95.6%
4213 N. Tabor St.
Mesa, AZ 85215
--------------------------------------------------------------------------------

                                       5
<PAGE>

Security Ownership of Management:

Beneficial Owner    Class     Amount       Nature of Ownership      Percentage
----------------    -----     ------       -------------------      ------------
William D. O'Neal   Common    19,120,000   Direct                   95.6%
Director/President
Secretary, Treasurer
4213 N. Tabor St.
Mesa, AZ 85215
--------------------------------------------------------------------------------
TOTAL
Common Shares     20,000,000

ITEM 12. CERTAIN RELATIONSHIPS & RELATED TRANSACTIONS

None

ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K

    (a) Exhibits

EXHIBIT
NUMBER  DESCRIPTION
------  ------------
31     Certification
32     Certification



    (b) Reports on Form 8-K

None

                                       6
<PAGE>
FINANCIAL STATEMENTS
                                TABLE OF CONTENTS                         PAGE
                                ---------------

INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS' REPORT ........................... F-1

BALANCE SHEET .............................................................. F-2

STATEMENT OF OPERATIONS .................................................... F-3

STATEMENT OF STOCKHOLDER' EQUITY ........................................... F-4

STATEMENT OF CASH FLOWS .................................................... F-5

NOTES TO FINANCIAL STATEMENTS ....................................... F-6 - F-10

                           Shelley International, CPA
                               161 E. 1st. St. #1.
                                 Mesa, AZ 85201
                                 (480) 461-8301

                REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT

To the Board of Directors and Audit Committee
GBO CORPORATION

I  have  audited  the  accompanying  balance  sheet  of  GBO  Corporation.,   (a
Development Stage Company) as of June 30, 2003 and June 30, 2002 and the related
statements of operations,  stockholders'  equity,  and cash flows for the period
from January 18, 2002  (inception)  to June 30, 2002,  year ended June 30, 2003,
and period 18  January,  2002  (inception)  to June 30,  2003.  These  financial
statements are the responsibility of the Company's management. My responsibility
is to express an opinion on these financial statements based on my audit.

I conducted my audit in accordance with auditing standards generally accepted in
the United States of America.  Those  standards  require that I 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.  I believe that my audit provides a reasonable basis for
my opinion.

In my opinion, the financial statements referred to above present fairly, in all
material  respects,  the financial  position of GBO Corporation,  (a Development
Stage Company) as of June 30, 2003 and June 30, 2002 and the related  statements
of operations,  stockholders' equity, and cash flows for the period from January
18,  2002  (inception)  to June 30,  2002,  year ended June 30,  2003 and period
January 18, 2002  (inception)  to June 30, 2003 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 the notes to the
financial  statements,  the Company has no established  source of revenue.  This
raises  substantial  doubt  about the  Company's  ability to continue as a going
concern.  The  financial  statements do not include any  adjustments  that might
result from this uncertainty.

                                                     Shelley International, CPA
September 4, 2003
                                      F-1

                                       7
<PAGE>

                              FINANCIAL STATEMENTS

                                GBO CORPORATION
                         (A Development Stage Company)

                                 BALANCE SHEET
                                 -------------


                                            As of              As of
                                           June 30,           June 30,
                                             2003               2002
                                        ---------------   ---------------
                                     ASSETS
                                     ------
CURRENT ASSETS
     Cash                                             0     $         126
                                        ---------------   ---------------

     Total Current Assets                             0     $         126
                                        ---------------   ---------------

OTHER ASSETS                                          0                 0
                                        ---------------   ---------------

     Total Other Assets                               0                 0
                                        ---------------   ---------------

TOTAL ASSETS                                          0     $         126
                                        ===============   ===============

                      LIABILITIES AND STOCKHOLDERS' EQUITY
                      ------------------------------------

LIABILITIES

Current Liabilities                                   0                 0
                                        ---------------   ---------------

     Total Current Liabilities                        0                 0
                                        ---------------   ---------------

STOCKHOLDERS' EQUITY


     Common Stock, authorized
     25,000,000 shares of stock,
     issued and outstanding 20,000,000,
     par value $0.001 per share           $      20,000     $      20,000

     Additional Paid in Capital                   5,670             5,670

     Deficit accumulated during the
     development stage                          (25,670)          (25,544)
                                        ---------------   ---------------

     Total Stockholders' Equity                       0     $         126
                                        ---------------   ---------------

TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY                                  0     $         126
                                        ===============   ===============

The accompanying notes are an integral part of these statements
                                      F-2

                                       8
<PAGE>


                                GBO CORPORATION
                         (A Development Stage Company)

                            STATEMENT OF OPERATIONS
                             ----------------------
<TABLE>
<CAPTION>
                                         Year     January 18, 2002    January 18, 2002
                                        Ended       (Inception)          (Inception)
                                       June 30,      to June 30,         to June 30,
                                         2003           2002                 2003
                                 -------------- ------------------ -------------------
<S>                                    <C>              <C>                  <C>
INCOME
  Revenue                                     0                  0                   0
                                 -------------- ------------------ -------------------
EXPENSES
  General, Selling and
  Administrative                  $         126  $          25,544  $           25,670
                                 -------------- ------------------ -------------------

  Total Expense                   $         126  $          25,544  $           25,670
                                 -------------- ------------------ -------------------

  Loss before Provision for
  Income Taxes                    $        (126) $         (25,544) $          (25,670)

  Provision for Income Taxes                  0                  -                   0
                                 -------------- ------------------ -------------------


NET INCOME (LOSS)                 $        (126) $         (25,544) $          (25,670)
                                 ============== ================== ===================

Primary and Diluted Earnings
  (Loss) per Weighted Average
   Number of Common Shares                 0.01               0.01                0.01
                                 -------------- ------------------ -------------------

Weighted Average Number of
Common Shares                        20,000,000         20,000,000          20,000,000
                                 -------------- ------------------ -------------------
</TABLE>

The accompanying notes are an integral part of these statements
                                      F-3

                                       9
<PAGE>

                               GBO CORPORATION
                         (A Development Stage Company)

                       STATEMENT OF STOCKHOLDERS' EQUITY
                       ---------------------------------
<TABLE>
<CAPTION>
                                              Common Stock       Additional  Accumulated       Total
                                         Shares        Amount      Paid in     Deficit        Equity
                                                                   Capital
                                     ------------ ------------- ----------- ------------ -----------
<S>                                       <C>           <C>          <C>        <C>           <C>
Initial Capitalization
     Stock issued for services         19,370,000  $     19,370           -               $   19,370
     Stock sales for cash                 630,000           630  $    5,670                    6,300

Retained Earnings (Loss)                                                     $   (25,544)    (25,544)
                                     ------------ ------------- ----------- ------------ -----------

Balance, June 30, 2002                 20,000,000  $     20,000  $    5,670  $   (25,544) $      126

Accumulated Deficit                                                                 (126)       (126)
                                     ------------ ------------- ----------- ------------ -----------

Balance, June 30, 2003                 20,000,000  $     20,000  $    5,670  $   (25,670) $        -
                                     ============ ============= =========== ============ ===========
</TABLE>

The accompanying notes are an integral part of these statements
                                      F-4

                                       10
<PAGE>


                                 GBO CORPORATION
                          (A Development Stage Company)

                             STATEMENT OF CASH FLOWS
                             -----------------------
<TABLE>
<CAPTION>
                                                        Year     January 18, 2002    January 18, 2002
                                                       Ending       (Inception)         (Inception)
                                                      June 30,       to June 30,        to June 30,
                                                         2003            2002              2003
                                              ---------------- ------------------ -------------------
<S>                                                    <C>               <C>               <C>
Cash Flows from Operating Activities

        Net Loss                               $          (126) $         (25,544) $          (25,670)

        Consulting for stock                                 0             19,370              19,370
        Changes in assets and liabilities                    0                  0                   0
                                              ---------------- ------------------ -------------------


Net Cash Provided by Operations                $          (126) $          (6,174) $           (6,300)
                                              ---------------- ------------------ -------------------

Cash Flow Used in Investing Activities                       0                  0                   0
                                              ---------------- ------------------ -------------------

Cash Flows from Financing Activities

        Sales of Stock                                       0  $           6,300  $            6,300
                                              ---------------- ------------------ -------------------

Cash Flows from Financing Activities                         0  $           6,300  $            6,300
                                              ---------------- ------------------ -------------------

Net Increase (Decrease)
Net Increase (Decrease) in Cash                $          (126) $             126                   0

Cash, Beginning of Period                      $           126                  0                   0
                                              ---------------- ------------------ -------------------

Cash, End of Period                                          0  $             126                   0
                                              ================ ================== ===================
</TABLE>

The amount of interest paid for the period shown above was $00.00.
The amount of taxes paid for the period shown above was $00.00.

Significant non cash transactions:
Issuance of 19,370,000 shares of common stock for consulting services
        valued at $19,370

The accompanying notes are an integral part of these statements
                                      F-5

                                       11
<PAGE>

                                 GBO Corporation
                          (A Development Stage Company)


                          NOTES TO FINANCIAL STATEMENTS
                          -----------------------------

Note 1. GENERAL ORGANIZATION AND BUSINESS

GBO  Corporation,  (the Company) was organized in the state of Nevada on January
18,  2002.  The Company is currently  in its  development  stage and to date its
activities have been limited to organization and capital formation.  The Company
currently has no operations  and, in accordance with SFAS No. 7, is considered a
development stage company.

Note 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

As of June  30,  2003 the  Company  has no  assets  and no  debt.  The  relevant
accounting policies and procedures are listed below:

Accounting Basis

The basis is generally accepted accounting principles.

Fiscal Year

The Company changed its fiscal year end from December 31 to June 30.

Earnings per Share

The basic earnings  (loss) per share is calculated by dividing the Company's net
income available to common shareholders by the weighted average number of common
shares during the year. The diluted  earnings  (loss) per share is calculated by
dividing the Company's net income (loss) available to common shareholders by the
diluted  weighted  average  number of shares  outstanding  during the year.  The
diluted  weighted  average  number of shares  outstanding  is the basic weighted
number  of  shares  adjusted  as of the  first of the  year for any  potentially
dilutive debt or equity.

The Company has no potentially dilutive securities outstanding at the end of the
statement  periods.  Therefore,  the basic and diluted earnings (loss) per share
are presented on the face of the statement of operations as the same number.

The Company has not issued any options or warrants or similar  securities  since
inception.

Dividends

The Company has not yet adopted any policy  regarding  payment of dividends.  No
dividends have been paid since inception.

Stock Based Compensation

The Company accounts for its stock based  compensation  based upon provisions in
SFAS No. 123, Accounting for Stock-Based  Compensation.  In this statement stock
based  compensation is divided into two general  categories,  based upon who the
stock receiver is, namely: employees/directors and non-employees/directors.  The
employees/directors  category is further divided based upon the particular stock

                                      F-6

                                       12
<PAGE>

issuance plan, namely compensatory and non-compensatory.  The employee/directors
non-compensatory  securities  are  recorded at the sales price when the stock is
sold. The compensatory  stock is calculated and recorded at the securities' fair
value at the time the stock is given.

SFAS 123 also provides that stock compensation paid to non-employees be recorded
with a value which is based upon the fair value of the services  rendered or the
value of the stock given,  whichever is more reliable.  The common stock paid to
non-employees was valued at the value of the services rendered. In all instances
this was assumed to be par value for the stock.

Income Taxes

The provision for income taxes is the total of the current taxes payable and the
net of the  change  in the  deferred  income  taxes.  Provision  is made for the
deferred  income  taxes  where  differences  exist  between  the period in which
transactions  affect  current  taxable income and the period in which they enter
into the determination of net income in the financial statements.

Advertising

Advertising  is expensed  when  incurred.  There has been no  advertising  since
inception.

Use of Estimates

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

NOTE 3. GOING CONCERN

The  accompanying  financial  statements  have been  prepared  assuming that the
company will continue as a going concern,  which contemplates the realization of
assets and the  liquidation  of  liabilities  in the normal  course of business.
However the Company has  neither a current  source of revenue,  nor  operations.
Without  realization of additional capital, it would be unlikely for the Company
to continue  as a going  concern.  It is  management's  plan to seek  additional
capital through a merger with an existing operating company.

NOTE 4. STOCKHOLDERS' EQUITY

At inception the Company had 25,000,000 shares of common stock  authorized.  The
shareholders have all of the rights afforded Nevada shareholders.

Par value is $0.001 per common share.

There are no warrants or options outstanding to acquire any additional shares of
common stock.

The Company was  initially  capitalized  on January 18, 2002.  Also,  $19,370 of
value was given in services for which 19,370,000  shares of stock were issued at
par value. Afterward, 630,000 shares of common stock were sold for $6,300 ($0.01
per share) as shown in the statement of stockholders' equity

                                      F-7


                                       13
<PAGE>

NOTE 5. RELATED PARTY TRANSACTIONS

The Company  neither owns nor leases any real or personal  property.  An officer
who lives in Arizona  provides  administrative  services,  without charge.  Such
costs are immaterial to the financial statements and accordingly,  have not been
reflected  therein.  The officers  and  directors of the Company are involved in
other  business  activities  and may,  in the future,  become  involved in other
business  opportunities.  If a specific business  opportunity becomes available,
such  persons  may face a conflict  in  selecting  between the Company and their
other  business  interests.  The  Company  has not  formulated  a policy for the
resolution of such conflicts.

NOTE 5.  INCOME TAXES

The Company  provides for income taxes under  Statement of Financial  Accounting
Standards No. 109, Accounting for Income Taxes. SFAS No. 109 requires the use of
an asset and  liability  approach in accounting  for income taxes.  Deferred tax
assets  and  liabilities  are  recorded  based on the  differences  between  the
financial statement and tax bases of assets and liabilities and the tax rates in
effect when these differences are expected to reverse.

SFAS No. 109  requires  the  reduction  of  deferred  tax assets by a  valuation
allowance if, based on the weight of available evidence,  it is more likely than
not that some or all of the  deferred  tax assets will not be  realized.  In the
Company's opinion, it is uncertain whether they will generate sufficient taxable
income in the future to fully utilize the net deferred tax asset. Accordingly, a
valuation allowance equal to the deferred tax asset has been recorded. The total
deferred tax asset is estimated at $5,647,  which is calculated by multiplying a
22% estimated tax rate by the two items making up the deferred tax account,  the
accumulated  NOL of $25,670 and the difference  between tax and book net loss of
$537, (which was due to the organization  costs). The total valuation  allowance
is a comparable $5,647

The provision for income taxes is comprised of the net change in deferred  taxes
less the valuation  account plus the current taxes payable as shown in the chart
below.


                                                          2002             2003
                                                          ----             ----
         Net change in deferred taxes                    5,620               27
         Valuation Account                              (5,620)             (27)
         Current taxes payable                               0                0
                                                      --------           ------
         Provision for Income Taxes                          0                0
                                                      --------           ------

Below is a chart showing the federal net operating  losses and the year in which
it will expire.

         Year                                           Amount       Expiration
                                                        ------       ----------
         2002                                           24,855             2022
         2003                                              278             2023

                                      F-8


                                       14
<PAGE>

Note 6. OPERATING LEASES AND OTHER COMMITMENTS:

As explained in the note  pertaining  to related  parties,  the Company uses the
offices of its president with no charge.  The Company also has no assets,  debts
nor lease  obligations  of any kind.  The  five-year  projection of these future
obligations will be zero in each year, as follows:

                           Year 1     Year 2     Year 3     Year 4     Year 5

Operating Leases, etc           0          0          0          0          0


Note 8. THE EFFECT OF RECENTLY ISSUED ACCOUNTING STANDARDS

Below is a listing of the most  recent  accounting  standards  SFAS  141-144 and
their effect on the Company.

SFAS 141 Business Combinations

This  Statement  addresses  financial  accounting  and  reporting  for  business
combinations and supersedes APB 16 and SFAS 38. All business combinations in the
scope of this  Statement are to be accounted for using one method,  the purchase
method. The effective date for this Statement is June 30, 2001 and thereafter.

SFAS 142 Goodwill and Other Intangibles Assets

This  Statement  addresses  financial  accounting  and  reporting  for  acquired
goodwill and other  intangible  assets and  supersedes  APB 17. It addresses how
intangible assets that are acquired  individually or with a group (but not those
acquired  in a  business  combination)  should  be  accounted  for in  financial
statements  upon their  acquisition.  This Statement also addresses how goodwill
and other  intangible  assets  should  be  accounted  for  after  they have been
initially  recognized in the financial  statements.  The effective date for this
Statement is December 15, 2001.

SFAS 143 Accounting for Asset Retirement Obligations

This Statement  addresses  financial  accounting  and reporting for  obligations
associated with the retirement of tangible  long-lived assets and the associated
asset retirement costs.  This Statement  applies to all entities.  It applies to
legal  obligations  associated  with the  retirement of  long-lived  assets that
result  from the  acquisition,  construction,  development,  and (or) the normal
operation of a long-lived asset,  except for certain obligations of leases. This
Statement  amends SFAS 19. The  effective  date for this  Statement  is June 15,
2002.

SFAS 144 Accounting for the Impairment or Disposal of Long-Lived Assets

This Statement addresses  financial  accounting and reporting for the impairment
or disposal of  long-lived  assets.  This  statement  supersedes  SFAS 121,  the
accounting  and reporting  provisions of APB 30 and amends ARB 51. The effective
date of this Statement is December 15, 2001.

SFAS 145 Extra-ordinary item classification, Sale-lease-back classification

This statement  rescinds SFAS 4, 44 and 64 and reinstates APB 30 as the standard
for the  classification of gains and losses of the  extinguishment of debt as an
operating lease to be accounted for under the sale-lease-back provisions of SFAS
98. The effective date of this statement is May 15, 2002.

                                      F-9


                                       15
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SFAS 146 Accounting for Costs Associated with Exit or Disposal Activities

This statement  requires  companies to recognize  costs  associated with exit or
disposal  activities,  other than SFAS 143 costs,  when they are incurred rather
than at the date of a commitment to an exit or disposal plan.  Examples of these
costs are lease  termination  costs,  employee  severance costs  associated with
restructuring,  discontinued operation, plant closing, or other exit or disposal
activity. This statement is effective after December 15, 2002.

SFAS 147 Acquisitions of Certain  Financial  Institutions - an amendment of FASB
Statement No. 72 and 144 and FASB Interpretation No. 9.

This statement  makes the acquisition of financial  institutions  come under the
statements 141 and 142 instead of statement 72, 144 and FASB  Interpretation No.
9. This statement is applicable for acquisition on or after October 1, 2002.

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

SFAS 148 Accounting for Stock-Based Compensation - Transition and Disclosure

Amends FASB 123 to provide  alternative methods of transition for an entity that
voluntarily changes to the fair value based method of accounting for stock-based
employee compensation.

SFAS 149  Amendment  of  Statement  133 on  Derivative  Instruments  and Hedging
Activities

This  Statement  amends and  clarifies  financial  accounting  and reporting for
derivative  instruments,  including certain derivative  instruments  embedded in
other  contracts  (collectively  referred  to as  derivatives)  and for  hedging
activities under FASB Statement No. 133,  Accounting for Derivative  Instruments
and Hedging Activities.

SFAS 150 Financial  Instruments  with  Characteristics  of both  Liabilities and
Equity

This  statement  requires that such  instruments be classified as liabilities in
the balance sheet. SFAS 150 is effective for financial  instruments entered into
or modified after May 31, 2003.

The adoption of these new  Statements is not expected to have a material  effect
on the Company's  current  financial  position,  results or operations,  or cash
flows.  These  standards  will  have an  impact if the  Company  merges  with an
operating entity.

Note 9. SUBSEQUENT EVENTS

The Company has entered into a merger  agreement,  effective July 15, 2003, with
Listo, Inc. a national and international hospitality company.

                                      F-10

                                       16
<PAGE>

                                   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 thereunder duly authorized.

GBO CORPORATION

Dated: September 9, 2003                                By: /s/ Robert Smart
                                                        ------------------------
                                                                Robert Smart
                                                                President

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

Dated: September 9, 2003

By: /s/ Robert Smart
----------------------------
        Robert Smart
        Director, President
        Secretary, Treasurer

                                       17
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                                   EXHIBIT 31

                CERTIFICATION PURSUANT TO RULE 13a-14 AND 15d-14
              UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

I, Robert Smart, President of the Registrant, GBO, Inc. certify that:

1.   I have reviewed this transitional report on Form 10-KSB of GBO, Inc.;

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

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

4.   I  am  solely  responsible  for  establishing  and  maintaining  disclosure
     controls  and  procedures  (as  defined in  Exchange  Act Rules  13a-14 and
     15d-14) for the Registrant and we have:

     (a)  designed  such  disclosure  controls  and  procedures  to ensure  that
          material  information  relating  to  the  Registrant,   including  its
          consolidated subsidiaries,  is made known to us by others within those
          entities, particularly during the period in which this report is being
          prepared;

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

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

5.   I have disclosed,  based on my most recent evaluation,  to the Registrant's
     auditors and the audit committee of the Registrant's board of directors (or
     persons performing the equivalent function):

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

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

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

Dated:  September 9, 2003                             /s/ Robert Smart
                                                      --------------------------
                                                          Robert Smart
                                                          President

                                       18
<PAGE>






                                   EXHIBIT 32

                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


In connection with the Transitional  Report of GBO, Inc. (the "Company") on Form
10-KSB for the  transitional  period January 1, 2003, to June 30, 2003, as filed
with the Securities and Exchange  Commission on the date hereof (the  "Report"),
I,  Robert  Smart,  President  of the  Company,  certify,  pursuant to 18 U.S.C.
Section 1350, as adopted  pursuant to Section 906 of the  Sarbanes-Oxley  Act of
2002, that:

     (1) The Report fully  complies  with the  requirements  of Section 13(a) or
15(d) of the Securities Exchange Act of 1934; and

     (2)  The  information  contained  in the  Report  fairly  presents,  in all
material  respects,  the  financial  condition  and result of  operations of the
Company.



/s/Robert Smart
------------------------
   Robert Smart
   President




                                       19
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