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


                           FORM 10-KSB

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

           For the fiscal year ended December 31, 2003

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

                Commission file number: 000-30991

             SKINOVATION PHARMACEUTICAL INCORPORATED
      (Exact name of Registrant as specified in its charter)

        Nevada                                         87-0458170
(State of incorporation)                  (I.R.S. Employer Identification No.)

2157 S. Lincoln Street, Salt Lake City, Utah             84106
(Address of principal executive offices)               (Zip code)

Issuer's telephone number, including area code:   (801) 323-2395

Securities registered pursuant to Section 12(b) of the Act:   None

Securities registered pursuant to Section 12(g) of the Act:   Common Stock

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12
months (or for such shorter period that the registrant was required to file
such reports) and (2) has been subject to such filing requirements for the
past 90 days.   Yes [X]  No [ ]

Check if disclosure of delinquent filers in response to item 405 of Regulation
S-B is not contained herein, and will not be contained, to the best of
registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-KSB or any amendment to
this Form 10-KSB. [X]

State issuer's revenue for its most recent fiscal year:  None

A market value of the voting stock held by non-affiliates cannot be determined
because the registrant does not have an active trading market.

As of March 4, 2004 the registrant had 708,000 shares of common stock
outstanding.

Documents incorporated by reference: None

Transitional Small Business Disclosure Format: Yes [ ] No [X]

<PAGE>



                        TABLE OF CONTENTS

                              PART I

Item 1.  Description of Business............................................3
Item 2.  Description of Property............................................6
Item 3.  Legal Proceedings..................................................6
Item 4.  Submission of Matters to a Vote of Security Holders................6

                             PART II

Item 5.  Market for Common Equity, Related Stockholder Matters and
         Issuer Purchase of Securities......................................6
Item 6.  Plan of Operation..................................................7
Item 7.  Financial Statements...............................................7
Item 8.  Changes in and Disagreements with Accountants on Accounting
         and Financial Disclosure..........................................18
Item 8A. Controls and Procedures...........................................18

                             PART III

Item 9.  Directors, Executive Officers, Promoters and Control Persons,
         Compliance with Section 16(a) of the Exchange Act.................18
Item 10. Executive Compensation............................................19
Item 11. Security Ownership of Certain Beneficial Owners and Management
         and Related Stockholder Matters...................................19
Item 12. Certain Relationships and Related Transactions....................20
Item 13. Exhibits and Reports on Form 8-K..................................20
Item 14. Principal Accountant Fees and Services............................20
Signatures.................................................................21




                    FORWARD LOOKING STATEMENTS

In this annual report references to "Skinovation," "we," "us," and "our" refer
to Skinovation Pharmaceutical Incorporated.

This annual report contains certain forward-looking statements and for this
purpose any statements contained in this annual report that are not statements
of historical fact may be deemed to be forward-looking statements.  Without
limiting the foregoing, words such as "may," "will," "expect," "believe,"
"anticipate," "estimate" or "continue" or comparable terminology are intended
to identify forward-looking statements.  These statements by their nature
involve substantial risks and uncertainties, and actual results may differ
materially depending on a variety of factors, many of which are not within
Skinovation's control.  These factors include but are not limited to economic
conditions generally and in the markets in which Skinovation may participate,
competition within Skinovation's chosen industry, technological advances and
failure by Skinovation to successfully develop business relationships.



                                2


<PAGE>

                              PART I

                 ITEM 1: DESCRIPTION OF BUSINESS

Business Development

We were originally incorporated in the state of Nevada on January 15, 1988, as
Data Financial Corporation ("Data Financial").  In 1992 Data Financial
obtained a license to certain pharmaceutical products and on August 5, 1992,
Data Financial changed its name to Skinovation Pharmaceutical Incorporated.
In 1993, a court of law determined that Skinovation did not own the license
for the pharmaceutical products and we have not had operations since that
time.

Our Plan

We are a "blank check" company and have had recurring operating losses for the
past two fiscal years.  Our independent auditors have expressed doubt that we
can continue as a going concern unless we obtain financing to continue
operations.

Our business plan is to seek, investigate, and, if warranted, acquire an
interest in a business opportunity.  Our acquisition of a business opportunity
may be made by merger, exchange of stock, or otherwise.  We have very limited
sources of capital, and we probably will only be able to take advantage of one
business opportunity. At the present time we have not identified any business
opportunity that we plan to pursue, nor have we reached any preliminary or
definitive agreements or understandings with any person concerning an
acquisition or merger.

Based on current economic and regulatory conditions, management believes that
it is possible, if not probable, for a company like ours, without many assets
or liabilities, to negotiate a merger or acquisition with a viable private
company.  The opportunity arises principally because of the high legal and
accounting fees and the length of time associated with the registration
process of "going public."  However, should any of these conditions change, it
is very possible that there would be little or no economic value for anyone
taking over control of Skinovation.

Our search for a business opportunity will not be limited to any particular
geographical area or industry and includes both United States and
international companies.  Our management has unrestricted discretion in
seeking and participating in a business opportunity, subject to the
availability of such opportunities, economic conditions and other factors.
Our management believes that companies who desire a public market to enhance
liquidity for current stockholders, or plan to acquire additional assets
through issuance of securities rather than for cash will be potential merger
or acquisition candidates.

The selection of a business opportunity in which to participate is complex and
extremely risky and will be made by management in the exercise of its business
judgement.  There is no assurance that we will be able to identify and acquire
any business opportunity which will ultimately prove to be beneficial to us
and our stockholders.  Should a merger or acquisition prove unsuccessful, it
is possible management may decide not to pursue further acquisition activities
and management may abandon its activities and we may become dormant or be
dissolved.

Our activities are subject to several significant risks which arise primarily
as a result of the fact that we have no specific business and may acquire or
participate in a business opportunity based on the decision of management
which will, in all probability, act without consent, vote, or approval of our
stockholders.

It is possible that the range of business opportunities that might be
available for consideration by us could be limited by impact of the SEC
regulations regarding purchase and sale of "penny stock."  Our common stock is
not publicly traded at this time and we cannot assure that a market will
develop or that a stockholder ever will be able to liquidate his investments
without considerable delay, if at all.  If a market develops, our shares will
likely be subject to the rules of the Penny Stock Suitability Reform Act of
1990. The liquidity of penny stock is affected by specific disclosure
procedures required by this Act to be followed by all broker-dealers,
including but not limited to, determining the suitability of the stock for a
particular customer, and obtaining a written agreement from the

                                3

<PAGE>


customer to purchase the stock.  This rule may affect the ability of
broker-dealers to sell our securities and may affect the ability of purchasers
to sell our securities in any market.

Investigation and Selection of Business Opportunities

We anticipate that business opportunities will come to our attention from
various sources, including our officers and directors, our stockholders,
professional advisors such as attorneys and accountants, securities
broker-dealers, investment banking firms, venture capitalists, members of the
financial community and others who may present unsolicited proposals.
Management expects that prior personal and business relationships may lead to
contacts with these various sources.

Our management will analyze the business opportunities; however, none of our
management are professional business analysts.  (See, Part III, Item 9:
Directors, Executive Officers, . . .)  Our management has had limited
experience with mergers and acquisitions of business opportunities and has not
been involved with an initial public offering.  Management may rely on
promoters or their affiliates, principal stockholders or associates to assist
in the investigation and selection of business opportunities.

Certain conflicts of interest exist or may develop between us and our officers
and directors.  Our management has other business interests to which they
currently devote attention, which include their primary employment and
management of other blank check reporting companies.  They may be expected to
continue to devote their attention to these other business interests although
management time should be devoted to our business.  As a result, conflicts of
interest may arise that can be resolved only through their exercise of
judgement in a manner which is consistent with their fiduciary duties to us.
In particular, our officers and directors are directors of other blank check
companies with a structure and a business plan which is identical to ours and
they may be involved with other blank check companies in the future.  In the
process of negotiations for an acquisition or merger or determination of
consulting fees related to investigation of a business opportunity our
principal stockholders and management may consider their own personal
pecuniary benefit or the interests of other blank check companies they are
affiliated with rather than the best interests of our other stockholders.

We presently do not foresee entering into a merger or acquisition transaction
with any business with which our officers or directors are currently
affiliated.  If we determine in the future that a transaction with an
affiliate would be in our best interest we are permitted by Nevada law to
enter into such a transaction if:

     (1)   The material facts regarding the relationship or interest of the
affiliate in the contract or transaction are disclosed or are known to the
board of directors.  The board authorizes the contract or transaction by the
affirmative vote of a majority of the disinterested directors, even though the
disinterested directors constitute less than a quorum; or

     (2)   The material facts regarding the relationship or interest of the
affiliate in the contract transaction are disclosed or are known to the
stockholders entitled to vote on the transaction, and the contract or
transaction is specifically approved by vote of the stockholders; or

     (3)   The contract or transaction is fair to us at the time it is
authorized, approved or ratified by the board of directors or the
stockholders.

A decision to participate in a specific business opportunity may be made upon
our management's analysis of the quality of the business opportunity's
management and personnel, the anticipated acceptability of its new products or
marketing concept, the merit of its technological changes, the perceived
benefit that it will derive from becoming a publicly held entity, and numerous
other factors which are difficult, if not impossible, to analyze through the
application of any objective criteria.  In many instances, we anticipate that
the historical operations of a specific business opportunity may not
necessarily be indicative of the potential for the future because of the
possible need to substantially shift marketing approaches, significantly
expand operations, change product emphasis, change or substantially augment
management, or make other changes.  We will be dependent upon the owners of a
business opportunity to identify any such problems which may exist and to
implement, or be primarily responsible for, the


                                4

<PAGE>

implementation of required changes.

In our analysis of a business opportunity we anticipate that we will consider,
among other things, the following factors:

     (1)   Potential for growth and profitability, indicated by a new
technology, anticipated market expansion, or new products;

     (2)   Our perception of how any particular business opportunity will be
received by the investment community and by our stockholders;

     (3)   Whether, following the business combination, the financial
condition of the business opportunity would be, or would have a significant
prospect in the foreseeable future of becoming sufficient to enable our
securities to qualify for listing on a exchange or on a national automated
securities quotation system, such as NASDAQ.

     (4)   Capital requirements and anticipated availability of required
funds, to be provided by us or from operations, through the sale of additional
securities, through joint ventures or similar arrangements, or from other
sources;

     (5)   The extent to which the business opportunity can be advanced;

     (6)   Competitive position as compared to other companies of similar size
and experience within the industry segment as well as within the industry as a
whole;

     (7)   Strength and diversity of existing management, or management
prospects that are scheduled for recruitment;

     (8)   The cost of our participation as compared to the perceived tangible
and intangible values and potential; and

     (9)   The accessibility of required management expertise, personnel, raw
materials, services, professional assistance, and other required items.

No individual factor described above will be controlling in the selection of a
business opportunity.  Management will attempt to analyze all factors
appropriate to each opportunity and make a determination based upon reasonable
investigative measures and available data. Potential business opportunities
may occur in many different industries and at various stages of development.
Thus, the task of comparative investigation and analysis of such business
opportunities will be extremely difficult and complex. Potential investors
must recognize that because of our limited capital available for investigation
and management's limited experience in business analysis, we may not discover
or adequately evaluate adverse facts about the opportunity to be acquired.

Form of Acquisition

We cannot predict the manner in which we may participate in a business
opportunity. Specific business opportunities will be reviewed as well as our
needs and desires and those of the promoters of the opportunity.  The legal
structure or method deemed by management to be suitable will be selected based
upon our review and our relative negotiating strength. Such method may
include, but are not limited to, leases, purchase and sale agreements,
licenses, joint ventures and other contractual arrangements. We may act
directly or indirectly through an interest in a partnership, corporation or
other forms of organization.  We may be required to merge, consolidate or
reorganize with other corporations or forms of business organization. In
addition, our present management and stockholders most likely will not have
control of a majority of our voting shares following a merger or
reorganization transaction. As part of such a transaction, our existing
directors may resign and new directors may be appointed without any vote by
our stockholders.

                                5

<PAGE>

We likely will acquire our participation in a business opportunity through the
issuance of common stock or other securities.  Although the terms of any such
transaction cannot be predicted, it should be noted that issuance of
additional shares also may be done simultaneously with a sale or transfer of
shares representing a controlling interest by current principal stockholders.

Competition

We expect to encounter substantial competition in our effort to locate
attractive opportunities.  Business development companies, venture capital
partnerships and corporations, venture capital affiliates of large industrial
and financial companies, small investment companies, and wealthy individuals
will be our primary competition. Many of these entities will have
significantly greater experience, resources and managerial capabilities than
we do and will be in a better position than we are to obtain access to
attractive business opportunities.  We also will experience competition from
other public "blank check" companies, many of which may have more funds
available for these transactions.

Employees

We currently have no employees.  Our management expects to confer with
consultants, attorneys and accountants as necessary.  We do not anticipate a
need to engage any full-time employees so long as we are seeking and
evaluating business opportunities.

                 ITEM 2: DESCRIPTION OF PROPERTY

We do not currently own or lease any property.  Until we pursue a viable
business opportunity and recognize income, we will not seek independent office
space.

                    ITEM 3: LEGAL PROCEEDINGS

We are not a party to any proceedings or threatened proceedings as of the date
of this filing.

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

We have not submitted a matter to a vote of our shareholders during the fourth
quarter of the 2003 fiscal year.

                             PART II

ITEM 5: MARKET PRICE FOR COMMON EQUITY, RELATED STOCKHOLDER MATTERS
                AND ISSUER PURCHASE OF SECURITIES

Our common stock is not listed on any public market and we have had no market
activity in our stock as of this filing.  As of March 4, 2004 we had 307
stockholders of record.  We have not declared dividends on our common stock
and do not anticipate paying dividends on our common stock in the foreseeable
future.


Recent Sales of Unregistered Securities

We have not sold any securities during the past year without registration.


Issuer Purchase of Securities

None.


                                6

<PAGE>


                    ITEM 6: PLAN OF OPERATION

We have no assets and have experienced losses from inception.  During the next
twelve months our management intends to actively seek an operating company to
acquire or merge with which will create necessary operating revenue.

We currently cannot satisfy our cash requirements for our operations.  The
majority of our operating expenses are related to our reporting obligations
under the Exchange Act.  These expenses are related to legal, accounting and
professional services required to prepare our reports and the costs of filing
the reports with the SEC.  We are unable to pay cash for these services and
have relied on related and third parties to pay for these costs on our behalf.
These parties have not entered into written agreements guaranteeing advances
and, therefore, these parties are not obligated to provide funds in the
future.  However, management anticipates that these parties will continue to
pay for these costs on our behalf during the next twelve months.
Historically, we have paid for these advances by converting the debt into
common stock.

If we obtain a business opportunity, then it may be necessary to raise
additional capital.  We likely will sell our common stock to raise this
additional capital.  We expect to issue such stock pursuant to exemptions
provided by federal and state securities laws.  The purchasers and manner of
issuance will be determined according to our financial needs and the available
exemptions.  We do not currently intend to make a public offering of our
stock.  We also note that if we issue more shares of our common stock, then
our shareholders may experience dilution in the value per share of their
common stock.

                   ITEM 7: FINANCIAL STATEMENTS










                                7

<PAGE>





                 Skinovation Pharmaceutical, Inc.

                       Financial Statements

                    December 31, 2003 and 2002






                                8


<PAGE>




                             CONTENTS


Independent Auditor's Report................................................3

Balance Sheets..............................................................4

Statements of Operations ...................................................5

Statements of Stockholders' Equity..........................................6

Statements of Cash Flows....................................................7

Notes to the Financial Statements...........................................8




                                9

<PAGE>

                          CHISHOLM, BIERWOLF & NILSON
                          Certified Public Accountants
A Limited Liability        533 W. 2600 S., Suite 250     Office (801) 292-8756
     Company                 Bountiful, Utah 84010          Fax (801) 292-8809

______________________________________________________________________________





                   INDEPENDENT AUDITOR'S REPORT



To the Board of Directors and Stockholders
of Skinovation Pharmaceutical, Inc.

We have audited the accompanying balance sheets of Skinovation Pharmaceutical,
Inc. (a development stage company) as of December 31, 2003 and 2002 and the
related statements of operations, stockholders' equity and cash flows for the
years ended December 31, 2003 and 2002 and from inception January 15, 1988
through December 31, 2003.  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 audits.

We conducted our audits in accordance with generally accepted auditing
standards in the United States of America.  Those standards require that we
plan and perform the audits 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
audits provide 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 Skinovation Pharmaceutical,
Inc. (a development stage company) as of December 31, 2003 and 2002 and the
results of its operations and cash flows for the years ended December 31, 2003
and 2002 and from inception January 15, 1988 through December 31, 2003 in
conformity with generally accepted accounting principles 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
losses from operations which raises substantial doubt about its ability to
continue as a going concern.  Management's plans in regard to these matters
are described in Note 2.  The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.

/s/ Chisholm, Bierwolf & Nilson

Chisholm, Bierwolf & Nilson
Bountiful, Utah
February 3, 2004

                               -3-



<PAGE> 10






                 Skinovation Pharmaceutical, Inc.
                  (A Development Stage Company)
                          Balance Sheets


                              ASSETS


                                                           December 31
                                                   ---------------------------
                                                         2003        2002
                                                   ------------- -------------
CURRENT ASSETS

Cash (Note 1)                                      $          -  $          -
                                                   ------------- -------------

  Total Assets                                     $          -  $          -
                                                   ============= =============


               LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

Accounts Payable - related party (Note 5)          $     33,776  $     33,776
                                                   ------------- -------------

   Total Liabilities                                     33,776        33,776
                                                   ------------- -------------
STOCKHOLDERS' EQUITY

Common Stock, $.001 par value; 50,000,000 shares
  authorized; 708,000 shares issued and outstanding         708           708

Additional Paid-in Capital                               25,148        25,148

Deficit Accumulated during the development stage        (59,632)      (59,632)
                                                   ------------- -------------

  Total Stockholders' Equity (deficit)                  (33,776)      (33,776)
                                                   ------------- -------------

Total Liabilities and Stockholders' Equity         $          -  $          -
                                                   ============= =============




The accompanying notes are an integral part of these financial statements

                               -4-

<PAGE> 11




                 Skinovation Pharmaceutical, Inc.
                  (A Development Stage Company)
                     Statement of Operations
                                                                From
                                                                Inception on
                                                                January 15,
                                       For the Years Ended      1988 to
                                           December 31          Dec. 31,
                                         2003         2002      2003
                                    ------------- ------------- -------------

REVENUES                            $          -  $          -  $     27,937
                                    ------------- ------------- -------------
EXPENSES
  General & Administrative                     -         5,000       124,644
                                    ------------- ------------- -------------

    Total Expenses                             -         5,000       124,644
                                    ------------- ------------- -------------
Net loss before
 discontinued operations                       -        (5,000)      (96,707)

Gain on disposal of operations                 -             -        37,075
                                    ------------- ------------- -------------

Net Loss                            $          -  $     (5,000) $    (59,632)
                                    ============= ============= =============

Net Loss Per Share                  $       0.00  $      (0.01) $      (0.18)
                                    ============= ============= =============

Weighted average shares outstanding      708,000       708,000       358,421
                                    ============= ============= =============









The accompanying notes are an integral part of these financial statements



                               -5-

<PAGE> 12


                 Skinovation Pharmaceutical Inc.
                   (Development Stage Company)
                Statements of Stockholders' Equity
   From Inception on January 15, 1988 through December 31, 2003

                                                                 Deficit
                                                                 Accumulated
                                                     Additional  During the
                                Common Stock         Paid in     Development
                             Shares       Amount     Capital     Stage
                           ------------- ----------- ----------- -------------
Balance, January 15, 1988             -  $        -  $        -  $          -

Stock issued for cash
 at $.067                        30,000          30       1,970             -

Net (loss) for the year
 ended December 31, 1988              -           -           -        (1,950)

Net (loss) for the year
 ended December 31, 1989              -           -           -           (10)

Net (loss) for the year
 ended December 31, 1990              -           -           -           (10)

Net (loss) for the year
 ended December 31, 1991              -           -           -           (10)

Stock issued for cash
 at $.033                       270,000         270       8,730             -

Net (loss) for the year
 ended December 31, 1992              -           -           -        (9,757)

Net gain for the year
 ended December 31, 1993              -           -           -           737
                           ------------- ----------- ----------- -------------

Balance - December 31, 1993     300,000         300      10,700       (11,000)

Shares canceled (Note 4)       (206,632)       (207)        207             -

Net (loss) for the year
 ended December 31, 1994              -           -           -             -
                           ------------- ----------- ----------- -------------

Balance - December 31, 1994      93,368          93      10,907       (11,000)

Net (loss) for the year
 ended December 31, 1995              -           -           -             -
                           ------------- ----------- ----------- -------------

Balance - December 31, 1995      93,368          93      10,907       (11,000)

Net (loss) for the year
 ended December 31, 1996              -           -           -        (1,424)
                           ------------- ----------- ----------- -------------

Balance - December 31, 1996      93,368          93      10,907       (12,424)

Stock issued for services         6,632           7         126             -

Stock issued for debt
 satisfaction                     5,000           5       1,418             -

Stock issued for cash           500,000         500       9,500             -

Stock offering costs                  -           -      (7,000)            -

Net (loss) for the year
 ended December 31, 1997              -           -           -        (3,508)
                           ------------- ----------- ----------- -------------

Balance - December 31, 1997     605,000         605      14,951       (15,932)

Stock issued for services        48,000          48       4,752             -

Net (loss) for the year
 ended December 31, 1998              -           -           -       (19,000)
                           ------------- ----------- ----------- -------------

Balance - December 31, 1998     653,000         653      19,703       (34,932)

Net (loss) for the year
 ended December 31, 1999              -           -           -       (14,200)
                           ------------- ----------- ----------- -------------

Balance - December 31, 1999     653,000         653      19,703       (49,132)

Stock issued for services        55,000          55       5,445             -

Net (loss) for the year
 ended December 31, 2000              -           -           -        (5,500)
                           ------------- ----------- ----------- -------------

Balance - December 31, 2000     708,000         708      25,148       (54,632)

Net (loss) for the year
 ended December 31, 2001              -           -           -             -
                           ------------- ----------- ----------- -------------

Balance - December 31, 2001     708,000         708      25,148       (54,632)

Net (loss) for the year
 ended December 31, 2002              -           -           -        (5,000)
                           ------------- ----------- ----------- -------------

Balance - December 31, 2002     708,000         708      25,148       (59,632)

Net (loss) for the year
 ended December 31, 2003              -           -           -             -
                           ------------- ----------- ----------- -------------

Balance - December 31, 2003     708,000  $      708  $   25,148  $    (59,632)
                           ============= =========== =========== =============

The accompanying notes are an integral part of these financial statements


                                -6-


<PAGE> 13

                 Skinovation Pharmaceutical, Inc.
                  (A Development Stage Company)
                     Statement of Cash Flows


                                                                From
                                                                Inception on
                                                                January 15,
                                       For the Years Ended      1988 through
                                           December 31          December 31,
                                         2003         2002      2003
                                    ------------- ------------- -------------
Cash Flows from Operating Activities

  Net Loss                          $          -  $     (5,000) $    (59,632)
  Adjustments for non-cash items:
   Stock issued for debt repayment             -             -         1,424
   Shares issued for services                  -             -        10,433
   Increase in Accounts Payable                -         5,000        33,776
   Loss on disposal of PP&E                    -             -         5,263
                                    ------------- ------------- -------------
  Net Cash Provided (Used) by
  Operating Activities                         -             -        (8,736)
                                    ------------- ------------- -------------
Cash Flows from Investing Activities

  Cash paid for PP&E                           -             -        (5,264)
                                    ------------- ------------- -------------
  Net Cash Provided (Used) in
  Investing Activities                         -             -        (5,264)
                                    ------------- ------------- -------------
Cash Flows from Financing Activities

  Cash paid for offering cost                  -             -        (7,000)
  Issued common stock for cash                 -             -        21,000
                                    ------------- ------------- -------------
  Net Cash Provided by
  Financing Activities                         -             -        14,000
                                    ------------- ------------- -------------
Increase (Decrease) in Cash                    -             -             -

Cash, beginning of period                      -             -             -
                                    ------------- ------------- -------------

Cash, end of period                 $          -  $          -  $          -
                                    ============= ============= =============

Supplemental Cash Flow Information:

  Stock issued for debt repayment   $          -  $          -  $      1,424
  Stock issued for services         $          -  $          -  $     10,433

  Cash Paid For:
    Interest                        $          -  $          -  $          -
    Income Taxes                    $          -  $          -  $          -


The accompanying notes are an integral part of these financial statements

                               -7-



<PAGE> 14




                 Skinovation Pharmaceutical, Inc.
                  (A Development Stage Company)
                Notes to the Financial Statements
                    December 31, 2003 and 2002

NOTE 1 - Summary of Significant Accounting Policies

a.   Organization

     The Company was incorporated under the laws of the state of Nevada on
January 15, 1988 as Data Financial Corporation.  The Company began operations
when it became the recipient of a license to certain pharmaceutical products,
it also changed its name to Skinovation Pharmaceutical, Inc.  In 1993, it was
legally determined that the Company did not own the license it was operating
under.  The Company was ordered to cease and desist operations.  The Company
has been dormant since that time.

b.   Accounting Method

     The Company recognizes income and expense on the accrual basis of
accounting.

c.   Earnings (Loss) Per Share

     The computation of earnings per share of common stock is based on the
weighted average number of shares outstanding at the date of the financial
statements

                                          Income (loss)    Shares    Per Share
                                          (Numerator)   (Denominator)  Amount
                                          ------------- ------------- --------
For the year ended December 31, 2003:

 Basic EPS
  Income (loss) to common stockholders    $          -       708,000  $     -
                                          ============= ============= ========
For the year ended December 31, 2002:

 Basic EPS
  Income (loss) to common stockholders    $     (5,000)      708,000  $     -
                                          ============= ============= ========
From inception on March 11, 1986 to
December 31, 2003:

 Basic EPS
  Income (loss) to common stockholders    $    (59,632)      358,421  $ (0.16)
                                          ============= ============= ========

d.   Cash and Cash Equivalents

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



                               -8-

<PAGE> 15


                 Skinovation Pharmaceutical, Inc.
                  (A Development Stage Company)
                Notes to the Financial Statements
                    December 31, 2003 and 2002

NOTE 1 - Summary of Significant Accounting Policies (continued)

e.   Provision for Income Taxes

     No provision for income taxes have been recorded due to net operating
loss carryforwards totaling approximately $54,600 that will be offset against
future taxable income.  These NOL carryforwards began to expire in the year
2003.  No tax benefit has been reported in the financial statements because
the Company believes there is a 50% or greater chance the carryforward will
expire unused.

     Deferred tax asset and the valuation account is as follows as December
31, 2003 and 2002:

                                                 December 31,
                                             2003           2002
                                         ------------- -------------
     Deferred tax asset:
        NOL carryforward                 $     10,358  $     10,358

        Valuation allowance                  ( 10,358)     ( 10,358)
                                         ------------- -------------

                                         $          -  $          -
                                         ============= =============

f.   Use of estimates

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

NOTE 2 - Going Concern

     The accompanying financial statements have been prepared assuming that
the Company will continue as a going concern.  The Company has no assets and
has had recurring operating losses for the past several years and is dependent
upon financing to continue operations.  The financial statements do not
include any adjustments that might result from the outcome of this
uncertainty.  It is management's plan to find an operating company to merge
with, thus creating necessary operating revenue.




                               -9-

<PAGE> 16

                 Skinovation Pharmaceutical, Inc.
                  (A Development Stage Company)
                Notes to the Financial Statements
                    December 31, 2003 and 2002

NOTE 3 - Development Stage Company

     The Company is a development stage company as defined in Financial
Accounting Standards Board Statement No. 7.  It is concentrating substantially
all of its efforts in raising capital and searching for a business operation
with which to merge, or assets to acquire, in order to generate significant
operations.

NOTE 4 - Stock Transactions

     On January 3, 1992, the Company's Board of Directors authorized a 3
shares for 1 share forward stock split, and on January 13, 1997 the Board
authorized a 1 for 100 reverse split.  The Company's financial statements have
been retroactively restated to show the effects of the stock splits.

     Since the discontinuance of operations in 1993, shareholders have
returned 206,632 shares of outstanding common stock for cancellation, as
requested by the Board of Directors.

     On March 20, 1998 the Company issued 48,000 shares of its common stock
for services valued at $4,800.

     On July 19, 2000 the Company issued 30,000 shares of its common stock for
services valued at $3,000.

     On August 14, 2000 the Company issued 25, 000 shares of its common stock
for services valued at $2,500.

NOTE 5 - Related Party Transactions

     During the years ended December 31, 1999, 1998, and 1997 the Company
incurred $14,200, $14,200 and $376 respectively, of professional fees payable
to First Equity Holdings Corp. (formerly Mutual Ventures Corp.)  An officer of
the Company is an employee of First Equity Holdings Corp.

     During the year ended December 31, 2002 the Company incurred $5,000 of
professional fees payable to First Equity Holdings Corp.



                               -10-

<PAGE> 17

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

In our current report dated February 9, 2004, we reported that our independent
auditors, Chisholm & Associates, Certified Public Accountants, resigned as our
independent auditors and we engaged Chisholm, Bierwolf & Nilson, LLC.

                ITEM 8A:  CONTROLS AND PROCEDURES

Our President, who acts in the capacity as principal executive officer and
principal financial officer, has reevaluated the effectiveness of our
disclosure controls and procedures as of the end of the period covered by this
report and determined that there continued to be no significant deficiencies
in these procedures.  Also, there were no changes made or corrective actions
to be taken related to our internal control over financial reporting.

                             PART III

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

Our executive officers and directors, their respective ages, positions and
biographical information are presented below.  Our bylaws require three
directors who serve for terms of one year or until they are replaced by a
qualified director.  We currently have one vacancy on our board of directors.
Our executive officers are chosen by our board of directors and serve at its
discretion.  There are no existing family relationships between or among any
of our executive officers or directors.

Name                Age     Position Held                  Director Since
-----              -----    ----------------------------   --------------
John W. Peters      52      President, Director            June 20, 2000
M. Jeanne Ball      46      Secretary/Treasurer, Director  March 20, 1998

John W. Peters - Mr. Peters is the manager of Development Specialties, Inc. a
property management company.  Since 1995 to the present he has been President
and Chairman of the Board of Earth Products and Technologies, Inc, a reporting
company.  Prior to 1995 he was employed as Earth Products' operations manager.
He also is a director of Bingham Canyon Corporation, Cancer Capital
Corporation, and Suncrest Global Energy Corp., which are reporting companies.
His prior business experience includes President and Executive Officer of
Certified Environmental Laboratories, Inc. and Vice President of Sales and
Marketing for Comco Communications Corp. in California.  Mr. Peters studied
business administration at Long Beach Community College and California
Polytechnic State University in San Louis Obispo, California.

M. Jeanne Ball - Mrs. Ball works as an independent contractor performing
duties of a legal secretary for attorneys.  She is a director of Wings &
Things, Inc., a blank check reporting company.

Audit Committee Financial Expert

Because we have minimal operations we do not have an audit committee serving
at this time.  Accordingly, we do not have an audit committee financial expert
serving on an audit committee.

Section 16(a) Beneficial Ownership Reporting Compliance

Section 16(a) of the Securities Exchange Act of 1934 requires our directors,
executive officers and persons who own more than five percent of a registered
class of our equity securities, to file with the Securities and Exchange
Commission initial reports of ownership and reports of changes in ownership of
common stock and our other equity securities.  Officers, directors and greater
than ten-percent beneficial owners are required by SEC regulations to furnish
us with copies of all Section 16(a) reports they file.  Based solely upon
review of the copies of such forms furnished to us during the fiscal year
ended December 31, 2003, we believe no filings were required.

                                18


<PAGE>

Code of Ethics

Due to the fact that we have minimal operations, we have not adopted a code of
ethics for our principal executive and financial officers.  Our board of
directors will revisit this issue in the future to determine if adoption of a
code of ethics is appropriate.  In the meantime, our management intends to
promote honest and ethical conduct, full and fair disclosure in our reports to
the SEC, and compliance with applicable governmental laws and regulations.

                 ITEM 10: EXECUTIVE COMPENSATION

None of our named executive officers received any cash compensation, bonuses,
stock appreciation rights, long term compensation, stock awards or long-term
incentive rights in excess of $100,000 from us during the past three fiscal
years.  John W. Peters, our President, who acts in the capacity similar to
chief executive officer did not receive compensation during the 2003 fiscal
year.  We have not entered into employment contracts with our executive
officers and their compensation, if any, will be determined at the discretion
of our Board of Directors.

Compensation of Directors

We do not have any standard arrangement for compensation of our directors for
any services provided as director, including services for committee
participation or for special assignments.

ITEM 11: SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
                 AND RELATED STOCKHOLDER MATTERS

The following table sets forth the beneficial ownership of our outstanding
common stock of each person or group known by us to own beneficially more than
5% of our outstanding common stock, as well as management's ownership.
Beneficial ownership is determined in accordance with the rules of the SEC and
generally includes voting or investment power with respect to securities.
Except as indicated by footnote, the persons named in the table below have
sole voting power and investment power with respect to all shares of common
stock shown as beneficially owned by them.  The percentage of beneficial
ownership is based on 708,000 shares of common stock outstanding as of March
4, 2004.

                    CERTAIN BENEFICIAL OWNERS


Name and Address of        Number of Shares of
Beneficial Owners          Common Stock               Percentage of Class
-------------------------- -------------------------- -------------------

Donald R. Mayer                   250,000                   35.3%
6 E.  Northridge Lane
Sandy, Utah 84092

National Financial
Services Corporation               50,000                    7.1%
200 Liberty Street
One World Financial Center
New York, New York 10281

Arthur Candland                    44,000                    6.2%
5295 S.  300 W.,
Suite 499
Murray, Utah 84107



                                19

<PAGE>

                            MANAGEMENT


Name and Address of        Number of Shares of
Beneficial Owners          Common Stock               Percentage of Class
-------------------------- -------------------------- -------------------

John W. Peters                     35,000                    4.9%
2157 S. Lincoln Street
Salt Lake City, Utah 84106

M. Jeanne Ball                     10,000                    1.4%
968 Bloomsbury Cove
Murray, Utah 84123

All directors and
officers as a group                45,000                    6.4%



Securities Under Equity Compensation Plans

We do not have any securities authorized for issuance under any equity
compensation plans.


     ITEM 12: CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

We have not engaged in any transactions in excess of $60,000 during the past
two years involving our executive officers, directors, 5% stockholders or
immediate family members of such persons.

            ITEM 13: EXHIBITS AND REPORTS ON FORM 8-K

Exhibits

3.1    Articles of Incorporation as amended  (Incorporated by reference to
       exhibit 3.1 of the Form 10-KSB, filed March 29, 2002)
3.2    Bylaws of Skinovation (Incorporated by reference to exhibit 3.3 of the
       Form-SB, filed July 11, 2000)
31.1   Principal Executive Officer Certification
31.2   Principal Financial Officer Certification
32.1   Section 1350 Certification

Reports on Form 8-K

On February 13, 2004, we filed a current report on Form 8-K, dated February 9,
2004, under Item 4 related to a change of our independent auditor.

         ITEM 14:  PRINCIPAL ACCOUNTANT FEES AND SERVICES

Our former independent auditor, Chisholm & Associates, Certified Public
Accountants, billed an aggregate of $1,119 for the year ended December 31,
2002 and $1,204 for the year ended December 31, 2003 for professional services
rendered for the audit of our annual financial statements and review of the
financial statements included in our quarterly reports.  Our independent
auditor has not billed us for any audit-related fees, tax fees or other fees
for the past two fiscal years.

We do not have an audit committee and as a result our entire board of
directors performs the duties of an audit committee.  Our board of directors
evaluates the scope and cost of the engagement of an auditor before the
auditor renders audit and non-audit services.  As a result, we do not rely on
established pre-approval policies and procedures.



                                20
<PAGE>

                            SIGNATURES

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


Date: March 11, 2004                 SKINOVATION PHARMACEUTICAL INCORPORATED

                                      /s/ John W. Peters
                                  By:_________________________________________
                                     John W. Peters
                                     President and Director
                                     Principal Executive and Financial Officer



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




                                      /s/ M. Jeanne Ball
Date: March 11, 2004              By:________________________________________
                                     M. Jeanne Ball
                                     Secretary/Treasurer and Director


                                21