SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-KSB

(Mark One)
   [X] Annual report under Section 13 or 15(d) of the Securities Exchange Act of
       1934 for the fiscal year ended December 31, 2001

  [ ] Transition report under Section 13 or 15(d) of the Securities Exchange
      Act of 1934 (No fee required) for the transition period from to

         Commission file number: 000-29605
                                 ---------

                              Cyberexcellence, Inc.
                 (Name of Small Business Issuer in Its Charter)



                 Nevada                                     88-0356052
                 ------                                     ----------
    (State or Other Jurisdiction of                      (I.R.S. Employer
     Incorporation or Organization)                     Identification No.)

                  4114 Splendor Way, Salt Lake City, Utah 84124
               (Address of Principal Executive Offices) (Zip Code)


                                 (801) 243-4498
                (Issuer's Telephone Number, Including Area Code)


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

        Title of Each Class          Name of each Exchange on Which Registered
        -------------------          ------------------------------------------
  Common Stock ($0.001 Par Value)                       None

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

Check if there is no disclosure of delinquent  filers in response to Item 405 of
Regulation S-B not contained in this form, and no disclosure  will be contained,
to the best of  registrant's  knowledge,  in  definitive  proxy  or  information
statements  incorporated  by  reference  in Part III of this Form  10-KSB or any
amendment to this Form 10-KSB [X ].

The issuer's  total  consolidated  revenues for the year ended December 31, 2001
were $ 0.

At December 31, 2001, the number of shares outstanding of the registrant's
Common Stock, $0.001 par value (the only class of voting stock), was 2,042,000.


<PAGE>



                                TABLE OF CONTENTS

                                     PART I
                                                                            Page


Item 1.           Description of Business......................................1

Item 2.           Description of Property......................................5

Item 3.           Legal Proceedings............................................5

Item 4.           Submission of Matters to a Vote of Security-Holders..........5


                                     PART II

Item 5.           Market for Common Equity and Related Stockholder Matters.....5

Item 6.           Management's Discussion and Analysis or Plan of Operation....6

Item 7.           Financial Statements.........................................7

Item 8.           Changes in and Disagreements With Accountants on
                  Accounting and Financial Disclosure..........................8

                                    PART III

Item 9.           Directors and Executive Officers.............................8

Item 10.          Executive Compensation.......................................9

Item 11.          Security Ownership of Certain Beneficial Owners
                  and Management..............................................10

Item 12.          Certain Relationships and Related Transactions..............10

Item 13.          Exhibits and Reports on Form 8-K............................10

                  Signatures..................................................11


<PAGE>



                                     PART I

ITEM 1.           DESCRIPTION OF BUSINESS

History

Cyberexcellence,  Inc. (the  "Company")  was formed as a Nevada  corporation  on
February 15, 1996, for the purpose of  specializing  in Internet  "virtual mall"
development.  The Company was one of over 40 related companies whose plan was to
create a virtual  mall with  theme  based  stores to sell  merchandise  over the
Internet.  The Company's  former parent,  Axia Group,  Inc. (f/k/a  CyberAmerica
Corporation),  a fully reporting company under the Exchange Act of 1934, through
its now defunct subsidiary  CyberMalls,  Inc. was in the process of developing a
specialized  search engine.  This search engine was designed to assist consumers
in the purchase of products by narrowing  the number of responses  received when
searching for a specific  product.  However,  due to a lack of necessary funding
CyberMalls,  Inc.'s  plans  to  create  the  search  engine  were  discontinued.
Consequently,  the plans to create a virtual  mall with at least 40 theme  based
stores with the 40 related companies including the Company's theme based virtual
store were  abandoned.  The Company  became a "blank  check" or "shell"  company
during the last quarter of 1996 as a result of the  inability  of the  Company's
then  parent  to  sufficiently  fund the  Company's  planned  operations  and is
currently seeking a business or businesses to acquire.

General

The Company is a "blank check" or "shell" corporation that seeks to identify and
complete a merger or acquisition  with a private entity whose business  presents
an opportunity for Company  shareholders.  The Company's  management will review
and evaluate business ventures for possible mergers or acquisitions. The Company
has not yet  entered  into any  agreement,  nor does it have any  commitment  or
understanding  to enter into or become engaged in a transaction,  as of the date
of this filing.  Further, the business objectives discussed herein are extremely
general  and are not  intended  to  restrict  the  discretion  of the  Company's
management.

A decision to participate in a specific business  opportunity will be made based
upon a Company analysis of the quality of the prospective business opportunity's
management and personnel, asset base, the anticipated acceptability of business'
products or marketing concepts, the merit of a business plan, and numerous other
factors which are difficult,  if not impossible,  to analyze using any objective
criteria.

Selection of a Business

The Company  anticipates that potential business  opportunities will be referred
from  various  sources,  including  its  officers  and  directors,  professional
advisors,  securities broker-dealers,  venture capitalists,  persons involved in
the financial community,  and others who may present unsolicited proposals.  The
Company  will not  engage  in any  general  solicitation  or  advertising  for a
business opportunity,  and will rely on the personal contacts of Richard Surber,
its  sole  officer  and  director  and  his  affiliates,  as  well  as  indirect
associations with other business and professional people.  Management's reliance
on "word of mouth"  may limit the  number of  potential  business  opportunities
identified.  While it is not presently  anticipated that the Company will engage
unaffiliated   professional  firms  specializing  in  business  acquisitions  or
reorganizations,  such firms may be retained if management  deems it in the best
interest of the Company.  Finder's fees paid to professional  acquisition  firms
could involve  one-time  cash  payments,  payments  based on a percentage of the
business  opportunity's  revenues or product  sales volume,  payments  involving
issuance of securities (including those of the Company),  or any combination of

                                        1

<PAGE>



these or other compensation arrangements. Consequently, the Company is unable to
predict the cost of utilizing  such  services.  As of the filing date there have
been  no  discussions,   agreements  or  understandings  with  any  professional
advisors,  financial  consultants,  broker-dealers or venture  capitalists.  The
Company's  present  intentions  are to rely upon its  president  to effect those
services normally provided by professional advisors or financial consultants.

The Company will not restrict its search to any particular  business,  industry,
or geographical  location.  Management  reserves the right to evaluate and enter
into any type of business in any location.  In seeking a business  venture,  the
decision of management will not be controlled by an attempt to take advantage of
any anticipated or perceived appeal of a specific  industry,  management  group,
product,  or industry,  but will be based on the  business  objective of seeking
long-term capital appreciation. The Company may participate in a newly organized
business  venture  or in a more  established  business.  Participation  in a new
business  venture entails greater risks since, in many instances,  management of
such a venture may not have a proven track record;  the eventual market for such
venture's  product  or  services  will  likely  not  be  established;   and  the
profitability  of the venture  will be untested  and  impossible  to  accurately
forecast.  Should the Company  participate in a more established venture that is
experiencing  financial difficulty,  risks may stem from the Company's inability
to generate sufficient funds to manage or reverse the circumstances causing such
financial problems.

The analysis of new businesses will be undertaken by or under the supervision of
Richard  Surber,   the  Company's  sole  officer  and  director.   In  analyzing
prospective businesses,  Richard Surber will consider, to the extent applicable,
the  available  technical,  financial  and  managerial  resources  of any  given
business  venture.  Management  will also  consider  the nature of  present  and
expected  competition;   potential  advances  in  research  and  development  or
exploration;   the  potential  for  growth  and  expansion;  the  likelihood  of
sustaining a profit within given time frames;  the perceived public  recognition
or   acceptance   of  products,   services,   trade  or  service   marks;   name
identification;  and other relevant  factors.  The Company  anticipates that the
results of  operations of a specific  business  venture may not  necessarily  be
indicative  of the  potential  for future  earnings,  which may be impacted by a
change in marketing strategies,  business expansion, modifying product emphasis,
changing or substantially augmenting management, and other factors.

The Company will analyze all relevant factors and make a determination  based on
a composite of available information, without reliance on any single factor. The
period within which the Company will decide to  participate  in a given business
venture  cannot be predicted and will depend on certain  factors,  including the
time involved in  identifying  businesses,  the time required for the Company to
complete  its  analysis  of  such  businesses,  the  time  required  to  prepare
appropriate  documentation  to  effect  a  merger  or  acquisition,   and  other
circumstances.

Acquisition of a Business

The implementing of a structure that will effect any given business transaction,
may cause the Company to become party to a merger,  consolidation,  purchase and
sale of assets,  purchase or sale of stock,  or other  reorganization  involving
another corporation, joint venture, partnership or licensee. The exact structure
of  the   anticipated   business   transaction   cannot   yet   be   determined.
Notwithstanding  the above,  the  Company  does not intend to  participate  in a
business through the purchase of minority stock  positions.  In other words, the
Company  does not  intend  to  merely  buy non  controlling  interests  in other
businesses.  Rather, its current focus is to acquire a controlling interest in a
business. Upon the completion of a transaction,  it is likely that the Company's
present  management will no longer control Company affairs.  Further, a majority
or all of the  Company's  present  directors  may,  as  part of the  terms  of a
prospective  business  transaction,  resign  and be  replaced  by new  directors
without a vote of the Company's shareholders.

                                        2

<PAGE>



In connection  with the Company's  merger or acquisition of a business  venture,
the present shareholders of the Company,  including Richard Surber, sole officer
and director,  may, as a negotiated part of the  transaction,  sell a portion or
all of the  Company's  Common Stock held by them at a  significant  premium over
their original investment in the Company. If the Company's current  shareholders
sell  their  stock as part of a  merger/acquisition,  they may  decide to sell a
controlling  interest  (i.e.,  over  50%) of the  Company  to the  other  entity
(including such other entity's  shareholders and affiliates) which  participates
in the  merger/acquisition.  The other entity might only buy shares from Richard
Surber  and/or Axia Group,  Inc., or it might only buy enough shares to obtain a
controlling  interest in the Company.  However,  there is no degree of certainty
that the other entity will buy any of the Company's shares, whether from Richard
Surber or any other shareholder. Conversely, it is possible the other entity may
offer to buy out all or most of the shareholders'  stock at prices comparable to
those  offered to Richard  Surber or Axia Group,  Inc.  It is possible  that the
entity may pay a higher price for shares belonging to insider  shareholders than
for  shares  belonging  to  non-insider  shareholders.  Although  the  Company's
insiders have no present  intentions to buy shares from other insiders,  it is a
possibility that insiders could buy shares from other insiders.  Management does
not intend to actively negotiate for or otherwise require the purchase of all or
any portion of its stock as a condition  to or in  connection  with any proposed
merger or  acquisition.  Although the  Company's  present  shareholders  did not
acquire their shares of Common Stock with a view toward any  subsequent  sale in
connection with a business  reorganization,  it is not unusual for affiliates of
the entity  participating in the  reorganization to negotiate to purchase shares
held by the present shareholders.  This is done in order to reduce the amount of
shares held by persons no longer  affiliated with the Company and thereby reduce
the potential  adverse impact on the public market in the Company's common stock
that could  result  from  substantial  sales of such shares  after the  business
reorganization.  Public  investors  will not  receive any portion of the premium
that may be paid in the  foregoing  circumstances.  Furthermore,  the  Company's
shareholders  may not be  afforded an  opportunity  to approve or consent to any
particular stock buy-out transaction.

In the event sales of shares by present  shareholders of the Company,  including
Richard  Surber,  are a negotiated  part of a future  merger or  acquisition,  a
conflict of interest may arise since Richard Surber will be negotiating  for the
merger or  acquisition on behalf of the Company and for the sale of their shares
for their own respective  accounts.  Where a business opportunity is well suited
for merger or  acquisition  by the Company,  but  affiliates of the  prospective
business  opportunity  impose a condition that  management  sell its shares at a
price which is unacceptable to them,  management may not sacrifice its financial
interest  for the  Company  to  complete  the  transaction.  Where the  business
opportunity is not well suited,  but the price offered management for its shares
is high,  management  may be  inclined  to effect  the  acquisition  in order to
realize a  substantial  gain on its shares in the  Company.  Management  has not
adopted any policy for resolving the foregoing potential conflicts,  should they
arise,  and does not  intend to obtain an  independent  appraisal  to  determine
whether any price that may be offered for its shares is fair.  Shareholders must
rely,  instead,  on the  obligation of management to fulfill its fiduciary  duty
under  state  law  to  act  in  the  best  interests  of  the  Company  and  its
shareholders.

Although the terms of any registration  rights and the number of securities,  if
any,  which may be  registered  cannot be  determined  at this  time,  it may be
expected  that any  registration  of  securities  by the  Company  would  entail
substantial expense to the Company.

The issuance of substantial  additional securities and their potential sale into
any trading  market  which may develop in the  Company's  securities  may have a
depressive effect on such market.



                                        3

<PAGE>



While the actual  terms of a  transaction  to which the  Company  may be a party
cannot be  determined  at this time,  it may be expected that the parties to any
business  transaction  will  find  it  desirable  to  structure  the  merger  or
acquisition as a so-called  "tax-free" event under sections 351 or 368(a) of the
Internal  Revenue  Code of 1986  (the  "Code").  In  order  to  obtain  tax-free
treatment under section 351 of the Code, it would be necessary for the owners of
the acquired  business to own 80% or more of the voting  stock of the  surviving
entity.  In such event,  the  shareholders of the Company would retain less than
20% of the  issued  and  outstanding  shares of the  surviving  entity.  Section
368(a)(1)  of the Code  provides  for  tax-free  treatment  of certain  business
reorganizations  between corporate entities where one corporation is merged with
or acquires the  securities  or assets of another  corporation.  Generally,  the
Company   expects  to  be  the   acquiring   corporation   in  such  a  business
reorganization,  and the tax-free status of the  transaction  will not depend on
the issuance of any specific  amount of the Company's  voting  securities  under
Section 368. The acquiring  corporation  will issue securities in such an amount
that the  shareholders of the acquired  corporation will hold 50% or more of the
voting  stock of the  surviving  entity.  Consequently,  there is a  substantial
possibility  that  the  shareholders  of the  Company  immediately  prior to the
transaction  would retain less than 50% of the issued and outstanding  shares of
the  surviving  entity.  Therefore,  regardless  of the  form  of  the  business
acquisition,  it may be anticipated that  stockholders  immediately prior to the
transaction  will  experience a  significant  reduction in their  percentage  of
ownership in the Company.

Notwithstanding  the  fact  that the  Company  is  technically  the  merging  or
acquiring entity in the foregoing  circumstances,  generally accepted accounting
principles will ordinarily  require that such transaction be accounted for as if
the  Company had been  acquired by the other  entity  owning the  business  and,
therefore, will not permit a write-up in the carrying value of the assets of the
other company.

The manner in which the Company  participates  in a business  will depend on the
nature of the  business,  the  respective  needs and  desires of the Company and
other  parties,  the  management of the business,  and the relative  negotiating
strength of the Company and such other management.

The  Company  will  participate  in a business  only after the  negotiation  and
execution  of  appropriate  written  agreements.  Although  the  terms  of  such
agreements  cannot be determined at this time,  generally such  agreements  will
require specific  representations  and warranties by all of the parties thereto,
will specify certain events of default, will detail the terms of closing and the
conditions which must be satisfied by each of the parties prior to such closing,
will outline the manner of bearing costs if the transaction is not closed,  will
set forth remedies on default, and will include miscellaneous other terms.

Operation of Business After Acquisition

The Company's  operation  following its merger or acquisition of a business will
be  dependent  on the nature of the  business  and the  interest  acquired.  The
Company is unable to  determine  at this time  whether  the  Company  will be in
control of the business or whether present  management will be in control of the
Company  following  the  acquisition.  It may be expected that the business will
present various risks, which cannot be predicted at the present time.

Government Regulation

It is  impossible  to anticipate  government  regulations,  if any, to which the
Company may be subject until it has acquired an interest in a business.  The use
of assets to conduct a business  which the Company may acquire  could subject it
to  environmental,   public  health  and  safety,  land  use,  trade,  or  other
governmental regulations and state or local taxation. In selecting a business in

                                        4

<PAGE>



which to acquire an interest,  management  will  endeavor to  ascertain,  to the
extent of the limited  resources of the Company,  the effects of such government
regulation on the prospective business of the Company. In certain circumstances,
however,  such as the  acquisition of an interest in a new or start-up  business
activity,  it may not be  possible to predict  with any degree of  accuracy  the
impact of  government  regulation.  The  inability  to  ascertain  the effect of
government   regulation  on  a  prospective  business  activity  will  make  the
acquisition of an interest in such business a higher risk.

Competition

The  Company  will be  involved  in  intense  competition  with  other  business
entities,  many of which will have a competitive edge over the Company by virtue
of their stronger financial resources and prior experience in business. There is
no assurance that the Company will be successful in obtaining  suitable business
opportunities.

Employees

The Company is a  development  stage  company and  currently  has no  employees.
Executive  officers  will devote only such time to the affairs of the Company as
they deem appropriate, which is estimated to be approximately 5 hours per month.
Management of the Company expects to use consultants, attorneys, and accountants
as necessary,  and does not anticipate a need to engage any full-time  employees
so long as it is identifying and evaluating  businesses.  The need for employees
and their  availability  will be addressed in connection with a decision whether
or not to acquire or participate in a specific business venture.

ITEM 2.           DESCRIPTION OF PROPERTY

The Company currently maintains its offices at the home of F. Briton McConkie, a
director of the  Company,4114  Splendor  Way,  Salt Lake City,  Utah 84124.  The
Company pays no rent for the use of this  address.  The Company does not believe
that it will need to maintain an office at any time in the foreseeable future in
order to carry out the plan of operation described herein.

ITEM 3.           LEGAL PROCEEDINGS

The Company is currently not a party to any legal proceedings.

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

No matter was submitted  during the fiscal year covered by this report to a vote
of security holders, therefore rendering this item inapplicable.

                                     PART II

ITEM 5.           MARKET PRICE OF AND DIVIDENDS ON THE REGISTRANT'S COMMON
                  EQUITY AND OTHER SHAREHOLDER MATTERS

The Company currently has no public trading market.  The Company intends to have
Form  15c-(2)(11)  filed on its behalf once a suitable  business  acquisition or
merger has been  completed in an effort to obtain a listing on the NASD over the
counter bulletin board and create a public market. Management believes that the

                                        5

<PAGE>



creation of a public trading market for the Company's  securities would make the
Company a more attractive acquisition or merger candidate.  However, there is no
guarantee  that the Company  will obtain a listing on the NASD  over-the-counter
bulletin board or that a public market for the Company's securities will develop
or, if such a market does develop,  that it will continue,  even if a listing on
the NASD over the counter bulletin board is obtained.

Recent Sales of Unregistered Securities

There were no sales of unregistered securities during the calendar year 2001.

Record Holders

As of December 31, 2001, there were  seventy-seven  (77)  shareholders of record
holding a total of 2,042,000  shares of Common Stock.  The holders of the Common
Stock are  entitled  to one vote for each  share  held of record on all  matters
submitted  to a vote  of  stockholders.  Holders  of the  Common  Stock  have no
preemptive  rights and no right to  convert  their  Common  Stock into any other
securities. There are no redemption or sinking fund provisions applicable to the
Common Stock.

Dividends

The  Company  has not  declared  any  dividends  since  inception  and  does not
anticipate  paying any  dividends  in the  foreseeable  future.  The  payment of
dividends is within the  discretion of the Board of Directors and will depend on
the Company's earnings,  capital  requirements,  financial condition,  and other
relevant  factors.  There are no restrictions that currently limit the Company's
ability to pay dividends on its Common Stock other than those generally  imposed
by applicable state law.

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

Plan of Operations

The Company's plan of operation for the coming year, as discussed  above,  is to
identify and acquire a favorable business opportunity. The Company does not plan
to  limit  its  options  to any  particular  industry,  but will  evaluate  each
opportunity on its merits. The Company anticipates that its owners,  affiliates,
and consultants will provide it with sufficient  capital to continue  operations
until  the end of the  year  2001,  but  there  can be no  assurance  that  this
expectation will be fully realized.

Results of Operations

The Company had no revenue from continuing operations from inception through
period ended December 31, 2001.

General and administrative  expenses for the period ended December 31, 2001 were
$4,762.57. General and administrative expenses for 2001 consisted of expenses to
keep the  Company in good  corporate  standing,  fees to  Transfer  Agents,  and
minimal expenses for office and bank account administration.

The Company had a net loss of $4,762.57 for the period ended  December 31, 2001.
The  Company's  net loss  for  fiscal  2001  was  attributable  to  general  and
administrative expenses.

                                        6

<PAGE>




The  Company  does not  expect  to  generate  any  meaningful  revenue  or incur
operating  expenses  unless and until it acquires  an  interest in an  operating
company.

Liquidity and Capital Resources

As of  December  31,  2001,  the  Company  had no major  assets.  The Company is
currently  authorized  to issue  20,000,000  shares  of common  stock,  of which
2,042,000 shares are issued and  outstanding,  and 5,000,000 shares of preferred
stock,  none of which is  outstanding  as of December  31, 2001.  Management  is
hopeful  that  becoming  a  reporting   company  will  increase  the  number  of
prospective  business ventures that may be available to the Company.  Management
believes that the Company has sufficient resources to meet the anticipated needs
of the Company's  operations  through at least the calendar year ending December
31, 2001. The Company  anticipates that its major  shareholders  will contribute
sufficient  funds to satisfy the cash needs of the Company through calendar year
ending December 31, 2001. However, there can be no assurances to that effect, as
the  Company  has no  revenues  and the  Company's  need for  capital may change
dramatically  if it acquires an interest in a business  opportunity  during that
period.  Further,  the Company has no plans to raise additional  capital through
private  placements or public  registration of its securities  until a merger or
acquisition candidate is identified.  Upon consummation of a merger, the Company
may decide to file the  necessary  and  appropriate  registration  statements to
register the affiliates'  shares.  In addition,  it is the position of the small
business  division the  securities  and exchange  commission  that  promoters or
affiliates of blank check companies, as well as their transferees, are deemed to
be  "underwriters"  of the securities  issued both before and after any business
combination.

The Company  projects that its operating  requirements  will not exceed  $15,000
over the next  twelve  months.  If no  acquisition  candidate  is found  for the
Company  during this time,  Axia Group,  Inc.  will loan the Company  sufficient
funds to cover  these  costs over the next twelve  months.  Richard  Surber will
provide his  expertise  in preparing  the  necessary  documentation  to keep the
Company current with its reporting  requirements  with the Securities & Exchange
Commission and those costs will accrue on the Company's  balance  sheet.  In the
event that a merger or  acquisition  occurs  over the next  twelve  months,  the
target  company  will be  responsible  for paying  these costs back to the major
shareholders,  or the major  shareholders may waive these costs depending on the
nature of the acquisition or merger transaction.

Events Subsequent to End of Fiscal Year

Pursuant to an agreement dated December 27, 2001, on January 7, 2002, Richard D.
Surber and Axia Group, Inc. sold 1,900,000 of the 2,000,000 shares owned by them
in the Company to F. Briton  McConkie,  Jr. and Stephen Fey. Of the shares sold,
1,000,000 came from Mr. Surber and 900,000 from Axia Group,  Inc. As a result of
the  transaction,  Mr.  McConkie and Mr. Fey, who each now own 950,000 shares of
the Company's common stock, own 93.05% of the outstanding shares of the Company.

ITEM 7.           FINANCIAL STATEMENTS

The Company's audited financial statements for the fiscal year ended December
31, 2001 are attached hereto as F-1 through F-9.

                                        7

<PAGE>

















                              Cyberexcellence, Inc

                         Financial Statements and Report

                   of Independent Certified Public Accountants

                                December 31, 2001















                                       F-1

<PAGE>



                          INDEX TO FINANCIAL STATEMENTS
                                                                            Page


Audited Balance Sheet as of December 31, 2001 ...............................F-3

Audited Statement of Operations for the years ended December 31, 2001 and 2000
and February 15, 1996 (Date of Inception) to December 31, 2001...............F-4

Audited Statement of Cash Flows for the year ended December 31, 2001 and 2000
and February 15, 1996 (Date of Inception) to December 31, 2001...............F-5

Audited Statement of Stockholder's Equity for the year ended December
31, 2001.....................................................................F-6

Notes to Condensed Financial Statements......................................F-7














                                       F-2

<PAGE>



[ANDERSEN ANDERSEN & STRONG, L.L.C.
941 EAST 3300 SOUTH, SUITE 202
SALT LAKE CITY, UTAH 84106
PHONE: 801-486-0096
FAX: 801-486-0098]


               REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS


Audit Committee or the
Board of Directors of
Cyberexcellence, Inc.
Salt Lake City, Utah

We have  audited the  accompanying  balance  sheet of  Cyberexcellence,  Inc. (a
development  stage  company) at December 31, 2001 and the related  statements of
operations, stockholders' equity and cash flows for the years ended December 31,
2001 and 2000, the period from February 15, 1996 (date of inception) to December
31, 2001.  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  Cyberexcellence,  Inc. (a
development  stage  company) as of  December  31,  2001,  and the results of its
operations  and its cash flows for the years ended  December  31, 2001 and 2000,
and the period from  February 15, 1996 (date of  inception) to December 31, 2001
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.  The Company has suffered  recurring
operating losses from operations from its inception and has very limited working
capital.  These conditions raise substantial doubt about its ability to continue
as a  going  concern.  Management's  plans  regarding  those  matters  are  also
described in Note 4. These  financial  statements do not include any adjustments
that might result from the outcome of this uncertainty.



April 11, 2002
Salt Lake City, Utah

/s/ Anderson Anderson & Strong
------------------------------
                                       F-3

<PAGE>



                              CYBEREXCELLENCE, INC.
                          (A Development Stage Company)
                                  Balance Sheet
                             As of December 31, 2001


                                     Assets

Current Assets:
   Cash in bank                                                      $       135
                                                                     -----------

     Total Assets                                                    $       135
                                                                     ===========



                  Liabilities and Stockholders' Equity

Current liabilities:
   Accounts payable                                                  $     1,108
   Accounts payable - related parties                                      6,361
                                                                     -----------

     Total Current Liabilities                                             7,469
                                                                     -----------

Stockholders' deficit
   Preferred stock, $.001 par value; authorized 5,000,000 shares;              -
         no shares issued
   Common stock, $.001 par value; authorized 20,000,000 shares;            2,042
         shares issued and outstanding: 2,042,000
   Additional paid-in capital                                                324
   Deficit accumulated during development stage                          (9,700)
                                                                     -----------

     Total Stockholders' Deficit                                         (7,334)
                                                                     -----------

Total Liabilities and Stockholders' Deficit                          $       135
                                                                     ===========







              The accompanying notes are an integral part of these
                              financial statements






                                       F-4

<PAGE>




                              CYBEREXCELLENCE, INC.
                          (A Development Stage Company)
                             Statement of Operations
                   Years ended December 31, 2001 and 2000 and
              Period From February 15, 1996 (Date of Inception) to
                                December 31, 2001



                                                                  Inception
                                                                through Dec. 31,
                                             2001        2000      2001
                                          ----------  ----------  ---------

Revenues:
     None                                 $        -  $        -  $       -
                                          ----------  ----------  ---------
                                                   -  $        -  $       -
                                          ----------  ----------  ---------
Expenses:
     General and administrative costs          4,763       2,931      9,700
                                          ----------  ----------  ---------
                                               4,763       2,931      9,700
                                          ----------  ----------  ---------


Net Loss                                  $  (4,763)    (2,931)     (9,700)
                                          ==========  ==========  =========

Net Loss Per Common Share - basic         $        -           -          -
                                          ==========  ==========  =========

Weighted average number of shares          2,042,000   2,042,000          -
outstanding - basic
                                          ==========  ==========  =========





















    The accompanying notes are an integral part of these financial statements

                                       F-5

<PAGE>



                              CYBEREXCELLENCE, INC.
                          (A Development Stage Company)
                             Statement of Cash Flows
                   Years ended December 31, 2001 and 2000 and
              Period From February 15, 1996 (Date of Inception) to
                                December 31, 2001

<TABLE>
<CAPTION>

                                                                               Inception
                                                                              through Dec.
                                                          2001       2000      31, 2001
                                                       --------    --------   ----------
<S>                                                   <C>         <C>        <C>

Cash flows from operating activities:

     Net loss                                          $(4,763)    $(2,931)   $  (9,700)

     Adjustments to reconcile net loss to net
        cash used in operating activities:

       Increase in accounts payable                       4,872       2,597        7,469
       Services and expenses paid with common stock           -           -        1,006
                                                       --------    --------   ----------

       Total adjustments                                  4,872       2,597        8,475
                                                       --------    --------   ----------

   Net cash (used) by operating activities                  109       (334)      (1,225)
                                                       --------    --------   ----------


Cash flows from financing activities:

Capital contributions by incorporators                        -           -        1,000
Stock subscriptions collected                                 -         360          360
                                                       --------    --------   ----------

   Net cash provided by financing activities                  0         360        1,360
                                                       --------    --------   ----------

Net increase in cash                                        109          26          135

Cash, beginning                                              26           -            -
                                                       --------    --------   ----------

Cash, end                                              $    135          26          135
                                                       ========    ========   ==========




Supplemental Schedule of non-cash investing and
 f financioninancing activities:
financing activities:

Issuance of common stock for services and expenses     $      -    $      -   $    1,006
                                                       ========    ========   ==========

</TABLE>




    The accompanying notes are an integral part of these financial statements

                                       F-6

<PAGE>



                              CYBEREXCELLENCE, INC.
                         (A Developmental Stage Company)
                  Statement of Changes In Stockholders' Equity
     Period From February 15, 1996 (Date of Inception) to December 31, 2001

<TABLE>
<CAPTION>

                                                                                 Additional
                                                                 Common Stock     Paid-in   Accumulated
                                                             Shares      Amount   Capital     Deficit      Total
                                                          ----------   ---------  -------   ---------   ---------
<S>                                                      <C>          <C>        <C>       <C>         <C>

Issuance of common stock to incorporators
   for cash - April 9, 1996 at $0.001                      1,000,000   $   1,000  $     -   $       -   $   1,000
Net loss for the period from February 15, 1996                     -           -        -     (1,000)     (1,000)
   (date of inception) to December 31, 1997
                                                          ----------   ---------  -------   ---------   ---------
Balance December 31, 1997                                  1,000,000       1,000        0     (1,000)           0
                                                          ----------   ---------  -------   ---------   ---------
Results of operations year ended December 31, 1998                 -           -        -           -           0
                                                          ----------   ---------  -------   ---------   ---------
Balance December 31, 1998                                  1,000,000       1,000        0     (1,000)           0
                                                          ----------   ---------  -------   ---------   ---------
Issuance of shares for services - Dec.16, 1999 at $0.001:  1,006,000       1,006        -           -       1,006
Shares subscribed - Dec. 16, 1999 at $0.01                    36,000          36      324           -         360
   Subscriptions not collected until February 3, 2000              -           -        -           -       (360)
Results of operations year ended December 31, 1999                 -           -        -     (1,006)     (1,006)
                                                          ----------   ---------  -------   ---------   ---------
Balance at December 31, 1999                               2,042,000       2,042      324     (2,006)           0
Subscriptions collected February 3, 2000                           -           -        -           -         360
Results of operations year ended December 31, 2000                 -           -        -     (2,931)     (2,931)
                                                          ----------   ---------  -------   ---------   ---------
Balance at December 31, 2000                               2,042,000   $   2,042  $   324   $ (4,937)   $ (2,571)
                                                          ----------   ---------  -------   ---------   ---------
Results of operations year ended December 31, 2001                 -           -        -
                                                                                              (4,763)     (4,763)
                                                          ----------   ---------  -------   ---------   ---------
Balance at December 31, 2001                               2,042,000   $   2,042  $   324   $ (9,700)   $ (7,334)
                                                          ==========   =========  =======   =========   =========

</TABLE>


     The accompany notes are an integral part of these financial statements

                                       F-7

<PAGE>



                              CYBEREXCELLENCE, INC.
                          (A Development Stage Company)
                          Notes to Financial Statements


1.       Organization

The Company was  incorporated  under the laws of the State of Nevada on February
15, 1996 with the name of  "Cyberexcellence,  Inc." with authorized common stock
of 20,000,000  shares at $0.001 par value,  and  authorized  preferred  stock of
5,000,000 shares at $0.001 par value.

The Company is in the  development  stage and has not commenced any  significant
operations.

2.       Summary of Significant Accounting Policies

Accounting Methods

The Company recognized income and expenses based on the accrual method of
accounting.

Dividend Policy

The Company has not adopted a policy regarding payment of dividends.

Income Taxes

At December 31,  2001,  the Company had a net  operating  loss  carryforward  of
$9,700.  The tax benefit from the loss carry  forward has been fully offset by a
valuation  reserve because use of future tax benefit is  undetermined  since the
Company  has no  operations.  The  net  operating  loss  expires  in  increments
beginning in 2011.

Earnings (Loss) Per Share

Earnings  (loss) per share  amounts are computed  based on the weighted  average
number of shares actually outstanding in accordance with FASB No. 128.

Financial Instruments

The carrying amounts of financial instruments are considered by management to be
their estimated fair values.

                                       F-8

<PAGE>



                              CYBEREXCELLENCE, INC.
                          (A Development Stage Company)
                          Notes to Financial Statements

2.          Summary of Significant Accounting Policies

Estimates and Assumptions

Management uses estimates and assumptions in preparing  financial  statements in
accordance with generally accepted  accounting  principles.  Those estimates and
assumptions  affect the  reported  amounts of the  assets and  liabilities,  the
disclosure of contingent  assets and liabilities,  and the reported revenues and
expenses.  Actual  results  could vary from the  estimates  that were assumed in
preparing these financial statements.


3.          Related Party Transactions

The statement of changes in stockholders equity shows 2,042,000 shares of common
stock  outstanding of which 2,000,000 shares were issued to related parties.  At
December 31, 2001, the Company owed $6,361 to these related parties.

4.       Going    Concern

Continuation  of the  Company as a going  concern is  dependent  upon  obtaining
working  capital for any future  planned  activity and management of the Company
will be required to develop a strategy  which will  accomplish  this  objective.
There can be no assurance that the Company can be successful in this effort.














                                       F-9

<PAGE>



ITEM 8.           CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS

The Company has had no disagreements with its independent accountants.

                                    PART III


ITEM 9.           DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS, AND CONTROL
                  PERSONS

The following individuals constitute the Company's Executive Officers and
Directors as of April 8, 2002.

     Name                        Age        Position
     ----                        ---        --------
     Stephen Wright              35         President and Director
     F. Briton McConkie, Jr.     55         Secretary, Treasurer and Director

Stephen Wright, Age 35. Mr. Wright was appointed president and a director of the
Company in January, 2002, and will serve until his successor is duly elected and
qualified.  Mr. Wright  graduated  from the Tulane  University Law School with a
Juris  Doctorate  degree in 2000.  He  received a Masters  Degree in Middle East
Studies  from  American  University  in  Cairo,  Egypt in 1994.  He  received  a
Bachelor's  Degree in Middle East Studies from Brigham Young University in 1992.
He has been employed by the Kuwait-America Foundation in Washington,  D.C. since
1997. He has served as the managing director of Gulf United LLC since 1999.

F. Briton  McConkie,  Jr., Age 55. Mr.  McConkie was  appointed  president and a
director of the Company in January,  2002, and will serve until his successor is
duly elected and qualified.  Mr. McConkie  graduated from the University of Utah
with a degree in Political  Science and  Marketing  in 1972. . Mr.  McConkie has
served as Director of Venture Capital/Funding with Wasatch Capital, Inc. in Salt
Lake City, Utah since 1993.

No other  persons are  expected  to make any  significant  contributions  to the
Company who are not executive officers or directors of the Company.

All  executive  officers are elected by the Board and hold office until the next
Annual  Meeting of  stockholders  and until  their  successors  are  elected and
qualify.

Compliance with Section 16(a) of the Exchange Act

During the fiscal year ended  December  31,  2001,  The  following  persons were
Officers  or  Directors  of the  Company,  or  owners  of in 10% or  more of the
outstanding shares of the Company who failed to file reports required by Section
16(a) on a timely basis:

<TABLE>
<S>                                    <C>                         <C>

                                        Number of Reports Filed      Number of Transactions
Name                                    Late                         Not Reported
----                                    -----------------------      ----------------------
Richard D. Surber                        0                           0
Axia Group, Inc.
</TABLE>


                                       8
<PAGE>
ITEM 10.  EXECUTIVE COMPENSATION

No cash  compensation  was paid to Richard  Surber during the fiscal years ended
December  31,  2000 or 2001.  The  Company,  as of the filing  date,  has issued
Richard  Surber a total of  1,000,000  Shares for his  services  to the  Company
valued at $1,000.  The  Company in 1996 also  issued  Axia  Group,  Inc.  (f/k/a
CyberAmerica  Corporation)  1,000,000 shares for the organizational  cost of the
Company  valued at $1,000.  There is currently no policy in place that  prevents
the Company from compensating Richard Surber or any future officer,  director or
affiliate in the form of the Company's  shares of common stock or other non-cash
compensation.  The  Company  has  no  current  plans  to  compensate  any of the
aforementioned  entities in this manner in the foreseeable future.  However, the
Company may agree to register the shares pursuant to an appropriate registration
statement on or after the Company effects a merger or acquisition.

The Company has no agreement or understanding, express or implied, with any
officer, director or principal stockholder, or their affiliates or associates,
regarding employment with the Company or compensation for services. The Company
has no plan, agreement, or understanding, express or implied, with any officer,
director or principal stockholder, or their affiliates or associates, regarding
the issuance to such persons of any shares of the Company's authorized and
unissued common stock. There is no understanding between the Company and any of
its present stockholders regarding the sale of a portion or all of the common
stock currently held by them in connection with any future participation by the
Company in a business. There are no other plans, understandings, or arrangements
whereby Richard Surber or any of the Company's principal stockholders, or any of
their affiliates or associates, would receive funds, stock, or other assets in
connection with the Company's participation in a business. No advances have been
made or contemplated by the Company to Richard Surber or any of its principal
stockholders, or any of their affiliates or associates.

There is no policy that prevents management from adopting a plan or agreement in
the future that would provide for cash or stock based  compensation for services
rendered to the Company.

Upon the merger or  acquisition  of a  business,  it is  possible  that  current
management  will resign and be replaced by persons  associated with the business
acquired,  particularly if the Company participates in a business by effecting a
stock  exchange,  merger,  or  consolidation.  In the event that Richard  Surber
remains  after  effecting  a  business  acquisition,  his  time  commitment  and
compensation  will likely be adjusted  based on the nature and  location of such
business and the services required, which cannot now be foreseen.

No  compensation in excess of $100,000 was awarded to, earned by, or paid to any
executive  officer of the company  during the years 1999 to 2001.  The following
table  provides  summary  information  for each of the last three  fiscal  years
concerning cash and non-cash compensation paid or accrued by Richard Surber, the
Company's chief executive officer for the past three years.

                           SUMMARY COMPENSATION TABLE


                                        9

<PAGE>
<TABLE>
<CAPTION>

                                          Annual Compensation                               Long Term Compensation
                                                                                    Awards                          Payouts
                                                                                          Securities
                                                                      Restricted       Underlying
                                                      Other Annual        Stock          Options           LTIP          All Other
   Name and Principal              Salary     Bonus   Compensation      Award(s)           SARs          payouts       Compensation
        Position           Year      ($)       ($)        ($)             ($)             (#)             ($)              ($)
<S>                     <C>      <C>       <C>      <C>             <C>             <C>              <C>             <C>

Richard D. Surber          2001       0         -          -               -                -              -                -
Secretary, Treasurer and   2000       0         -          -               -                -              -                -
Director                   1999       0         -          -            $1,000              -              -                -
------------------------ -------- --------- -------- --------------- --------------- ---------------- --------------  ------------
</TABLE>

Compensation of Directors

Currently there are no plans to compensate the Directors of the Company for
their services.

ITEM 11.          SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
                  MANAGEMENT

The following  table sets forth,  as of April 8, 2001, the number and percentage
of  outstanding  shares of common  stock  which,  according  to the  information
supplied to the Company, were beneficially owned by (i) each current director of
the Company,  (ii) each  current  executive  officer of the  Company,  (iii) all
current  directors  and executive  officers of the Company as a group,  and (iv)
each person who, to the  knowledge of the Company,  is the  beneficial  owner of
more than 5% of the  Company's  outstanding  common  stock.  Except as otherwise
indicated, the persons named in the table below have sole voting and dispositive
power with  respect  to all  shares  beneficially  owned,  subject to  community
property laws (where applicable).

<TABLE>
<S>               <C>                               <C>                     <C>

  Title of Class   Name and Address of Beneficial    Amount and Nature of    Percent of Class
                              Ownership              Beneficial Ownership
   Common Stock          F. Briton McConkie                 950,000                46.52
                          4114 Splendor Way
                        Salt Lake City, Utah
   Common Stock              Stephen Fey                    950,000               46.52%
   Common Stock      All Executive Officers and            1,900,000              93.05%
                        Directors as a Group

</TABLE>

ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

During  the past two  years  the  Company  has not been a party to any  material
transaction or series of transactions  with any Director or Executive Officer of
the  Company,  any  nominee  for  election  as a Director  of the Company or any
beneficial owner of 5% or more of the Company's outstanding common stock, nor is
the Company involved in any such proposed transactions.

ITEM 13.          EXHIBITS AND REPORTS ON FORM 8-K

(a)      Exhibits Exhibits required to be attached by Item 601 of Regulation S-B
         are listed in the Index to Exhibits on page 12 of this Form 10-KSB, and
         are incorporated herein by this reference.

(b)      Reports on Form 8-K.  No reports on Form 8-K were filed during the
         period covered by this Form 10-KSB.

                                       10

<PAGE>



                                   SIGNATURES

In  accordance  with  Section 13 or 15(d) of the Exchange  Act,  the  registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized, this 15th day of April, 2002.


                                       Cyberexcellence, Inc.



                                          /s/ F. Briton McConkie, Jr.
                                       ---------------------------------------
                                       F. Briton McConkie, Secretary


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


Signature                         Title                     Date


 /s/ F. Briton McConkie, Jr.
----------------------------
F. Briton McConkie, Jr.           Secretary, Director       April 15, 2002


    /s/ Stephen Wright
----------------------------
Stephen Wright                    President, Director       April 15, 2002



















                                       11

<PAGE>


                                INDEX TO EXHIBITS

Exhib.            Page
No.               No.      Description

3(i)              *        Articles of Incorporation of Cyberexcellence, Inc.,
                           a Nevada corporation, filed with the State of Nevada
                           on February 15, 1996

3(ii)             *        By-laws of the Company adopted on December 31, 1999.

4                 *        Employee Benefit Plan adopted on December 14, 1999.



* Incorporated by reference from Form 10-SB filed February 18, 2000.













                                       12

<PAGE>