Securities and Exchange Commission
                             Washington, D.C. 20549

                                   Form 10-KSB

[X]  Annual  Report  under Section 13 or 15(d) of the Securities Exchange Act of
     1934  for  the fiscal  year  ended  September  30,  2002

[ ]  Transition  report  under Section 13 or 15(d) of the Securities Exchange
     Act  of  1934

Commission  File  Number:  0-8835

                      Taurus Entertainment Companies, Inc.
                 (Name of Small Business Issuer in Its Charter)

     Colorado                                                     84-0736215
   (State Or Other Jurisdiction Of                              (IRS Employer
Incorporation Or Organization)                               Identification No.)

                         505 North Belt Drive, Suite 630
                              Houston, Texas 77060
                    (Address Of Principal Executive Offices)

                                 (281) 820-1181
                         (Registrant's Telephone Number)

         Securities Registered Under Section 12(b) Of The Exchange Act:

                           Title Of Each Class     n/a
                Name Of Each Exchange On Which Registered     n/a

          Securities Registered Pursuant To 12(g) Of The Exchange Act:

                               Title Of Each Class
                          Common Stock, $.001 Par Value

     Check  whether  the  issuer:  (i) 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 (ii)
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 contained herein, and no disclosure will be contained, to
the best of registrant's knowledge, in definitive proxy or information statement
incorporated  by  reference  in Part III of this Form 10-KSB or any amendment to
this  Form  10-KSB.  [X]


<PAGE>
     Indicate  by  check  mark  whether the registrant (i) has 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  (ii)  has been subject to such filing requirements for the
past  90  days.  Yes  [X]  No  [  ]

     Indicate  by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K 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]

     Issuer's  revenues  for the year ended September 30, 2002, were $1,309,963.
The  aggregate  market  value  of  Common  Stock  held  by non-affiliates of the
registrant  at  November  25,  2002,  based  upon the last reported price on the
OTCBB,  was  $21,560.  As  of  November 25, 2002, there were 4,310,012 shares of
common  stock  outstanding.


<PAGE>
<TABLE>
<CAPTION>
                                TABLE OF CONTENTS
PART  I                                                                     Page
<S>               <C>                                                       <C>

Item  1.          Business                                                     1

Item  2.          Properties                                                   3

Item  3.          Legal  Proceedings                                           4

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

PART  II

Item  5.          Market  for  Registrant's  Common  Equity  and
                  Related  Stockholder  Matters                                5

Item  6.          Management's  Discussion  and  Analysis  of
                  Financial Condition and Results of Operations                6

Item  7.          Financial  Statements                                        9 and F-1

Item  8.          Changes  in  and  Disagreements  with  Accountants
                  on  Accounting  and  Financial  Disclosures                  9

PART  III

Item  9.          Directors,  Executive  Officers,  Promoters  and
                  Control  Persons;  Compliance  with  Section  16(a)  of
                  The  Exchange  Act                                           9

Item  10.         Executive  Compensation                                     10

Item  11.         Security  Ownership  of  Certain  Beneficial
                  Owners  and  Management  and
                  Related  Stockholder  Matters                               11

Item  12.         Certain  Relationships  and  Related  Transactions          12

Item  13.         Exhibits  and  Reports  on  Form  8-K                       12

Item.  14         Controls  and  Procedures                                   12
</TABLE>


<PAGE>
                                     PART I

ITEM  1.     BUSINESS

     Taurus  Entertainment Companies, Inc. currently owns and operates one adult
cabaret  in Austin, Texas under the name XTC Cabaret.  We also own a facility in
north Houston that we lease to our parent company, Rick's Cabaret International,
Inc.  (Nasdaq "Rick"), that Rick's operates as a Rick's Cabaret.  Our other real
estate holdings consist of 350 acres of ranch land in Brazoria County, Texas and
approximately  50  acres of raw land in Wise County, Texas.  Our parent company,
Rick's  Cabaret International, Inc. (Nasdaq RICK), owns approximately 93% of our
common  stock.

BUSINESS  STRATEGY

     We  have  followed  a  policy of maintaining high standards in the areas of
both  personal  appearance  and  personality of the entertainers and waitresses.
Though  a performer's physical appearance is very important, of equal importance
is  her  ability  to  present herself attractively and to converse intelligently
with  customers.  We prefer that the performers we hire are experienced dancers.
We  make  a determination as to whether a particular applicant is suitable based
on  such  factors  of  appearance,  attitude,  dress,  communication  skills and
demeanor.  We recruit staff from both inside and outside the adult entertainment
industry.

     We  have a policy of ensuring that our business is carried on in conformity
with  local,  state  and  federal laws.  In particular, we have a "no tolerance"
policy  as  to  illegal  drug  use  in  or  around the premises.  Posters placed
throughout  our  facilities  reinforce  this  policy, as do periodic unannounced
searches  of  the entertainer's lockers.  Entertainers and waitresses who arrive
for  work  are  not  allowed  to  leave  the  premises without the permission of
management.  Once  an  entertainer  leaves  the  premises, she is not allowed to
return  to  work  until  the  next  day.  We continually monitor the behavior of
entertainers,  waitresses  and  customers  to  ensure  that  proper standards of
behavior  are  observed.

     We  review  all credit card charges made by our customers. Specifically, we
have  in place a formal policy, which provides that all credit card charges must
be  approved  in  writing  by  our  management  before any charges are accepted.
Management  is  trained  to  review  credit card charges to ensure that the only
credit  card  charges  approved  for  payment  are  for non-alcoholic drinks and
entertainment  at  XTC  Cabaret.

     We  have  implemented  internal  operational  and accounting procedures and
controls  designed  to  ensure  the  integrity  of  our  business.  We  separate
management  personnel  from  all  cash  handling  to  ensure  that management is
isolated from, and does not handle, any cash. We use a combination of accounting
procedures  and  physical inventory control procedures to ensure a high level of
integrity  in  our  accounting  practices.  Computers play a significant role in
capturing  and  analyzing  a  variety  of  information  to  provide  us with the
information  necessary to efficiently manage and control the nightclub. Deposits
of  cash  and  credit  card  receipts  are reconciled each day to a daily income
report. On a daily basis we review: (i) cash and credit card summaries which tie


                                        1
<PAGE>
together  all cash and credit card transactions occurring at the front door, the
bars  in  the  club  and  the  cashier  station,  (ii)  a  summary  of the daily
bartenders'  check-out  reports,  and (iii) a daily "cash requirements" analysis
which  reconciles  the  previous  day's cash on hand to the requirements for the
next  day's  operations.  These daily computer reports alert us to any variances
from  expected  financial  results  based  on  a  comparison  to  our historical
operations. On a monthly basis we conduct an overview of our financial condition
and have engage independent accountants to conduct an annual audit and to review
and  advise  us  about  our  internal  controls.

COMPETITION

     The  adult  entertainment  business  is  highly competitive with respect to
price, service and location, as well as the professionalism of the entertainment
product.  Our  nightclub  competes  with  a number of locally-owned adult clubs.
While  there  may  be  restrictions  on  the  location  of a so-called "sexually
oriented  business,"  there  are  no  barriers  to  entry into the adult cabaret
entertainment  market.  Only  our name, "XTC Cabaret," is proprietary to us. For
example,  there  are  approximately  nine  adult cabarets located in the Austin,
Texas  area  that  are  in  competition with us. Although we believe that we are
well-positioned  to compete successfully, there can be no assurance that we will
be  able  to maintain our high level of name recognition and prestige within the
marketplace.

GOVERNMENTAL  REGULATIONS

     We  are  subject  to  various  federal,  state and local laws affecting our
business  activities. The location of a sexually oriented business is subject to
restriction by city ordinance. For example, the operation of a sexually oriented
business  by our parent company, Rick's Cabaret International, Inc., in Houston,
Texas,  is  subject  to  "The  Sexually  Oriented  Business  Ordinance"  (the
"Ordinance"),  which  contains prohibitions on the location of an adult cabaret.
We  lease  a  facility  to  Rick's  Cabaret International, Inc. The prohibitions
generally  concern  a  facility's  distance  from  schools,  churches, and other
sexually  oriented  businesses, and contain restrictions based on the percentage
of  residences  within the immediate vicinity of the sexually oriented business.
The  granting  of a Sexually Oriented Business Permit ("Business Permit") is not
subject  to  discretion;  the  Business  Permit  must be granted if the proposed
operation  satisfies  the  requirements  of the Ordinance. If our lessee, Rick's
Cabaret  International,  Inc.,  was not permitted to operate a sexually oriented
business,  we  could  be  adversely  affected.

     In  January  1997,  the  City  Council  of  the  City  of  Houston passed a
comprehensive  new  Ordinance  regulating the location of and the conduct within
Sexually Oriented Businesses.  This Ordinance could have a negative impact on us
if  we  resume  operating  adult  clubs  in  Houston,  Texas.  The new Ordinance
established  new  minimum  distances  that  Sexually  Oriented Businesses may be
located  from  schools,  churches,  playgrounds  and  other  sexually  oriented
businesses.  There  were  no  provisions  in  the Ordinance exempting previously
permitted  sexually  oriented  businesses  from the effect of the new Ordinance.

     The  Ordinance  provided that a business, which was denied a renewal of its
operating  permit  due  to changes in distance requirements under the Ordinance,
would  be  entitled  to  continue  in  operation  for  a  period  of  time  (the
"Amortization  Period"),  if  the  owner were unable to recoup, by the effective
date  of the Ordinance, its investment in the business that was incurred through
the  date  of  the  passage  and  approval  of  the  Ordinance.


                                        2
<PAGE>
     In  May  1997,  the  City  of Houston agreed to defer implementation of the
Ordinance  until  the  constitutionality  of the entire Ordinance was decided by
court  trial  by  other  parties,  including  our  parent,  Rick's  Cabaret
International,  Inc.  In February 1998, the U.S. District Court for the Southern
District  of  Texas,  Houston  Division,  struck  down certain provisions of the
Ordinance,  including  the  provision  mandating a 1,500 foot distance between a
club and schools, churches, and other sexually oriented business, leaving intact
the provision of the 750 foot distance as it existed in the prior Houston, Texas
Ordinance.  The  City  of Houston has appealed the District Court's rulings with
the  Fifth  Circuit  Court  of  Appeals.

     There  are  other  provisions  in  the  Houston,  Texas  Ordinance, such as
provisions  governing the level of lighting in a sexually oriented business, the
distance between a customer and dancer while the dancer is performing in a state
of  undress  and provisions regarding the licensing of dancers that were upheld,
which  may  be  detrimental  to  our  business.  The  parties to the lawsuit are
appealing  these  aspects  of  the  Houston,  Texas  Ordinance.

     In  1998,  the  City  of  Houston  began  enforcing certain portions of the
Ordinance,  including  the  distance requirement between a customer and a dancer
while  dancing,  and  the  requirement  that  dancers  be  licensed. The City of
Houston's  enforcement  of  the recently implemented provisions of the Ordinance
could  have  an  adverse  impact  on us. The current requirement of a three foot
distance  between a dancer and a customer could reduce customer satisfaction and
could  result in fewer customers at the Houston location. The requirement that a
dancer  be  licensed  may  result  in fewer dancers working, which could have an
adverse  impact  on  the Houston locations. It is unknown what future impact the
enforcement  of  the  Houston  Ordinance  may  have  on  us.

     In  Austin,  Texas,  we are required to be in compliance with Travis County
restrictions  on  the  location  of  sexually  oriented  businesses.

EMPLOYEES  AND  INDEPENDENT  CONTRACTORS

     As of September 30, 2002, we had approximately 25 employees, of which 6 are
in  management  positions  and approximately 19 are engaged in customer service,
including  bartenders and waitresses. None of our employees are represented by a
union  and  we  consider  our  employee  relations  to  be  good.

     We  have  independent  contractor relationships with over 150 entertainers,
who  are  self-employed and work with us on a non-exclusive basis as independent
contractors.

ITEM  2.     PROPERTIES

     Our  principal executive offices are co-located at 505 North Belt, Houston,
Texas,  77060,  with  our  parent, Rick's Cabaret International, Inc. This 3,680
square  foot office is leased by Rick's from a third party. Rick's provides this
office  space  at  no charge to us. We believe that our offices are adequate for
our  present  needs and that suitable space will be available to accommodate our
future  needs.


                                        3
<PAGE>
     We  own  the  north  Houston  location,  where  our  parent, Rick's Cabaret
International,  Inc., operates a Rick's Cabaret. We also own the Austin location
of  our  XTC  Cabaret.

     Our  north  Houston  location  has 12,000 square feet of space. We recently
paid  off  the  mortgage  and  we  now  own  the  property  free  and  clear.

     Our  XTC  nightclub in Austin has 6,800 square feet of space, which sits on
1.2  acres  of land. The balance of the mortgage that we owe as of September 30,
2002  is $ 278,590 and the interest rate of 11%. Currently the monthly principal
and  interest  payment  is  $  9,822.  The  last  payment  is  due in June 2005.

     We and our subsidiaries own a 350 acre ranch in Brazoria County, Texas, and
approximately  50  acres  of  raw  land  in  Wise  County,  Texas.

     The  balance  as  of  September 30, 2002 that we owe on the Brazoria County
ranch  mort-gage  is  $300,052  and the interest rate is 9.25%. We pay $2,573 in
monthly  principal  and  interest  payments. The last mortgage payment is due in
February  2006  with  a  balloon  payment  of  $287,920.

     The  aggregate  balance  as  of  September 30, 2002 that we owe on the Wise
County  raw  land  mortgages  is  $144,708  and the interest rate is 12%. We pay
$1,537  in monthly principal and interest payments. The last mortgage payment is
due  in March 2026. We have entered into a contract to sell the raw land in Wise
County,  Texas  for  approximately  $162,450.  We presently intend to close this
transaction  on  or  about December 31, 2002. We will use the proceeds from this
sale  to  pay  off  the  mortgage  on  the  property  and  for  closing  costs.

ITEM  3.     LEGAL  PROCEEDINGS

Sexually  Oriented  Business  Ordinance  of  Houston,  Texas

     In  January  1997,  the  City  Council  of  the  City  of  Houston passed a
comprehensive  new  Ordinance  regulating the location of and the conduct within
Sexually  Oriented Businesses. This Ordinance could have a negative impact on us
if we resume operating adult clubs in Houston, Texas, or if the operation of our
tenant  in  Houston, Rick's Cabaret (our parent), is adversely affected. The new
Ordinance  established  new  minimum distances that Sexually Oriented Businesses
may  be located from schools, churches, playgrounds, and other sexually oriented
businesses.  There  were  no  provisions  in  the Ordinance exempting previously
permitted  sexually  oriented  businesses  from the effect of the new Ordinance.

     The  Ordinance  provided that a business, which was denied a renewal of its
operating  permit  due  to changes in distance requirements under the Ordinance,
would  be  entitled  to  continue  in  operation  for  a  period  of  time  (the
"Amortization Period") if the owner were unable to recoup, by the effective date
of  the  Ordinance, its investment in the business that was incurred through the
date  of  the  passage  and  approval  of  the  Ordinance.


                                        4
<PAGE>
     In  May  1997,  the  City  of Houston agreed to defer implementation of the
Ordinance  until  the  constitutionality  of the entire Ordinance was decided by
court  trial  by  other  parties,  including  our  parent,  Rick's  Cabaret
International,  Inc.  In February 1998, the U.S. District Court for the Southern
District  of  Texas,  Houston  Division,  struck  down certain provisions of the
Ordinance,  including  the  provision  mandating a 1,500 foot distance between a
club  and schools, churches and other sexually oriented business, leaving intact
the provision of the 750 foot distance as it existed in the prior Houston, Texas
Ordinance.  The  City  of Houston has appealed the District Court's rulings with
the Fifth Circuit Court of Appeals. A hearing is scheduled in December 2002. Our
business  would  be  adversely  affected  if  our  appeal  is  unsuccessful.

     There  are  other  provisions  in  the  Houston,  Texas  Ordinance, such as
provisions  governing the level of lighting in a sexually oriented business, the
distance between a customer and dancer while the dancer is performing in a state
of  undress  and provisions regarding the licensing of dancers and club managers
that  were  upheld  which may be detrimental to our business. The parties to the
lawsuit  are  appealing  these  aspects  of  the  Houston,  Texas  Ordinance.

     In  1998,  the  City  of  Houston  began  enforcing certain portions of the
Ordinance,  including  the  distance requirement between a customer and a dancer
while  dancing,  and the requirement that dancers and club managers be licensed.
The  City of Houston's enforcement of the recently implemented provisions of the
Ordinance could have an adverse impact on us. The current requirement that there
be  a  three foot distance between a dancer and a customer could reduce customer
satisfaction  and  could  result in fewer customers at the Houston location. The
requirement that a dancer be licensed may result in fewer dancers working, which
could have an adverse impact on the Houston locations. It is unknown what future
impact  the  enforcement  of  the  Ordinance  may  have  on  us.

     In  Austin,  we  are  required  to  be  in  compliance  with  Travis County
restrictions  on  the  location  of  sexually  oriented  businesses.

ITEM  4.     SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITYHOLDERS

     During  the  fourth quarter of fiscal 2002, there were no matters submitted
to a vote of the Security Holders, through solicitation of proxies or otherwise.

                                     PART II

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

     Our  common  stock  is  traded on the OTCBB under the symbol "TAUR.OB". The
following  table  sets forth, for the periods indicated the high and low closing
bid  prices  of  our common stock taking into account and restated for all stock
splits.  The  bid prices are believed to reflect inter-dealer quotations, do not


                                        5
<PAGE>
include  retail markups, markdowns or commissions and do not necessarily reflect
actual  transactions.

COMMON  STOCK  PRICE  RANGE

Our  fiscal  year  ends  September  30.

<TABLE>
<CAPTION>
                 HIGH BID   LOW BID
                 ---------  --------
<S>              <C>        <C>
 Fiscal 2001
---------------

 First Quarter   $     .01  $    .01
 Second Quarter  $     .06  $    .06
 Third Quarter   $     .06  $    .06
 Fourth Quarter  $     .06  $    .06

Fiscal 2002
---------------

 First Quarter   $    1.25  $    .25
 Second Quarter  $     .50  $    .20
 Third Quarter   $     .35  $    .15
 Fourth Quarter  $     .17  $    .07
</TABLE>

     On November 18, 2002, there were approximately 1,380 stockholders of record
of  the  common  stock.  On October 30, 2002, the last trade price on our common
stock  was  $0.07  per  share.

TRANSFER  AGENT  AND  REGISTRAR

     The  transfer  agent  and  registrar  for our common stock is Computershare
Investor  Services,  Golden,  Colorado.

DIVIDEND  POLICY

     We  have not paid, and do not currently intend to pay cash dividends on our
common  stock  in  the  foreseeable  future. Our current policy is to retain all
earnings,  if any, to provide funds for operation and expansion of our business.
The  declaration  of dividends, if any, will be subject to the discretion of the
Board  of  Directors,  which  may  consider  such  factors  as  our  results  of
operations,  financial  condition, capital needs and acquisition strategy, among
others.

EQUITY  COMPENSATION  PLAN  INFORMATION

     We  do  not  presently  have  an equity compensation plan or a stock option
plan,  and  we  have  no  present  intention to implement such plan.  We have no
outstanding  stock  options.


                                        6
<PAGE>
ITEM  6.     MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL
             CONDITION  AND  RESULTS  OF  OPERATIONS

     The  following  discussion  should  be read in conjunction with our audited
consolidated  financial  statements  and  related notes thereto included in this
annual  report.

FORWARD  LOOKING  STATEMENT  AND  INFORMATION

     We  are including the following cautionary statement in this Form 10-KSB to
make  applicable  and take advantage of the safe harbor provision of the Private
Securities Litigation Reform Act of 1995 for any forward-looking statements made
by  us,  or  on  behalf  of  us.  Forward-looking  statements include statements
concerning  plans,  objectives,  goals, strategies, future events or performance
and underlying assumptions and other statements, which are other than statements
of historical facts.  Certain statements in this Form 10-KSB are forward-looking
statements.  Words  such as "expects", "anticipates" and "estimates" and similar
expressions  are  intended  to  identify  forward-looking  statements.  Such
statements  are  subject  to  risks  and  uncertainties  that could cause actual
results  to differ materially from those projected. Such risks and uncertainties
are set forth below.  Our expectations, beliefs and projections are expressed in
good  faith  and  are  believed  to  have  a reasonable basis, including without
limitation,  management's  examination  of  historical  operating  trends,  data
contained  in our records and other data available from third parties, but there
can  be  no assurance that management's expectation, beliefs or projections will
result,  be  achieved,  or  be  accomplished.  In  addition to other factors and
matters discussed elsewhere herein, the following are important factors that, in
our  view,  could  cause material adverse affects on the our financial condition
and  results  of  operations:  the  impact  and  implementation  of the sexually
oriented  business  ordinance  in  the City of Houston, competitive factors, the
timing  of  the  openings  of other clubs, the integration of our operations and
management with our parent, Rick's Cabaret International, Inc., the availability
of  acceptable  financing  to  fund  corporate  expansion  efforts,  competitive
factors,  and  the dependence on key personnel.  We have no obligation to update
or  revise  these forward-looking statements to reflect the occurrence of future
events  or  circumstances.

GENERAL

     We  currently  own  and  operate one adult nightclub under the name "X.T.C.
Cabaret  "in Austin, Texas. We own commercial income real estate and undeveloped
real  estate.  Our  revenues  are  derived  from  cover charges, and the sale of
non-alcoholic  beverages.

RESULTS  OF  OPERATIONS  FOR  THE  FISCAL  YEAR  ENDED  SEPTEMBER  30,  2002, AS
COMPARED  TO  THE  FISCAL  YEAR  ENDED  SEPTEMBER  30,  2001

     For  the  fiscal  year  ended  September 30, 2002 we had consolidated total
revenues of $1,309,963 compared to consolidated total revenues of $1,538,823 for
the  fiscal  year  ended  September  30,  2001,  or  a decrease of $228,860. The
decrease  in  revenues  was  due  to  the  general  decrease  in revenues in the
entertainment  industry  post  September  11,  2001.


                                        7
<PAGE>
     The  cost  of  goods  sold  for  the  year  ended  September  30,  2002 was
approximately  5.04% revenues compared to approximately 5.94% for the year ended
September  30,  2001.  The  decrease  was  due  primarily to decrease in cost of
providing  complimentary  food.

     Payroll  and  related  costs  for  the  year  ended September 30, 2002 were
$377,971  compared  to  $323,772  for  the  year  ended September 30, 2001.  The
increase  was  due  to  increase  in  payroll  expenses  in the Austin location.

     Other  selling,  general  and  administrative  expenses  for the year ended
September  30,  2002  were  $792,468  compared  to  $830,275  for the year ended
September  30,  2001.  The  decrease  was primarily due to decrease in legal and
accounting  fees  and  advertising  expenses.

     Interest expense for the year ended September 30, 2002 was $54,199 compared
to $82,549 for the year ended September 30, 2001.  The decrease was attributable
to  the  management's effort to pay down our current debts and not incur any new
debts.

     Net  income  for  the year ended September 30, 2002 was $19,247 compared to
net  income  of $210,772 for the year ended September 30, 2001. The decrease was
primarily  due  to  decrease  in  the  revenues.

LIQUIDITY  AND  CAPITAL  RESOURCES

     At  September  30,  2002,  we  had  a  working  capital deficit of $592,908
compared  to  a  working  capital deficit of $454,869 at September 30, 2001. The
decrease  in  working  capital  was  primarily  due to an increase in payable to
parent  and  a  decrease  in cash, accounts receivable and other current assets.

     Net  cash  provided by operating activities in the year ended September 30,
2002  was  $102,700, compared to net cash provided by operations of $301,357 for
the  year  ended  September 30, 2001. The decrease in cash provided by operating
activities was primarily due to decrease in net income before depreciation and a
reduction  of  accounts  payable.

     Depreciation  and  Amortization  for the year ended September 30, 2002 were
$70,187  compared  to  $65,989  for  the  year  ended  September  30,  2001.

     In  our  opinion,  working capital is not a true indicator of our financial
condition.  We  typically  carry current liabilities in excess of current assets
because  we  collect  substantially immediate payment for sales, with de minimis
receivables,  while  inventories  and  other  current liabilities normally carry
longer  payment  terms. Vendors and purveyors often remain flexible with payment
terms that allow us to adjust to short-term business down turns. We consider the
primary  indicators  of  financial  status to be the long-term trend, the mix of
sales  revenues,  overall  cash  flow and profitability from operations, and the
level  of  long-term  debt.

     We  have  not  established  lines  of  credit  or  financing other than our
existing  debt.  There  can  be  no  assurance  that  we  will be able to obtain
additional  financing  on  reasonable  terms  in  the  future,  if  at  all.


                                        8
<PAGE>
     Because of the large volume of cash we handle, stringent cash controls have
been  implemented.  In  the  event  the  sexually  oriented business industry is
required in all states to convert the entertainers who perform at our locations,
from  being  independent  contractors  to  employee  status,  we  have  prepared
alternative  plans  that  we  believe will protect our profitability. We believe
that  the  industry  standard  of  treating  the  entertainers  as  independent
contractors  provides  sufficient safe harbor protection to preclude any payroll
tax  assessment  for  prior  years.

     The  sexually oriented business industry is highly competitive with respect
to  price,  service  and  location,  as  well  as  the  professionalism  of  the
entertainment.  Although  we  believe  that  we  are  well-positioned to compete
successfully  in  the  future, there can be no assurance that we will be able to
maintain our high level of name recognition and prestige within the marketplace.

SEASONALITY

     We  are  significantly  affected by seasonal factors. Historically, we have
experienced  reduced  revenues  from  April through September with the strongest
operating  results  occurring  during  October  through  March.

ITEM  7.     FINANCIAL  STATEMENTS

The  information required by this Item 7 is included in this report beginning on
page  F-1.

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

     There  have  been  no  changes  in  or  disagreements  with  accountants on
accounting  and  financial  disclosure.  Our  independent auditors are now named
Whitley Penn.  The former name of our independent auditors was Jackson & Rhodes.
In  2002,  the  accounting  and  audit  division of Jackson & Rhodes merged with
Whitley  Penn.  Our independent auditors have been advised by the Securities and
Exchange  Commission  that  for  purposes  of  this  Item  8  there  has been no
reportable  change  in  independent  auditors.  The  CPA  at  Whitley  Penn  who
supervised  our  audit  for the fiscal year ended September 30, 2002 is the same
CPA  who  supervised  our  prior  year's  audit  at  Jackson  &  Rhodes.

                                    PART III

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

DIRECTORS  AND  EXECUTIVE  OFFICERS


                                        9
<PAGE>
     Our Directors hold office until our next annual meeting of the stockholders
or  until  their  successors  are  elected  and  qualified. Officers are elected
annually  and  serve  at  the discretion of the Board of Directors.  There is no
family  relationship  between  or  among  any  of  our  directors  and executive
officers.  Our Board of Directors consists of one person, Eric S. Langan, who is
also  our  Chairman,  Chief  Executive  Officer,  President  and Chief Financial
Officer.

     Since  1997, Eric S. Langan, age 34, has been our Director, Chief Executive
Officer, President and Chief Financial Officer.  Mr. Langan has been involved in
the  adult  entertainment  business  since  1989.  From January 1997 through the
present,  he has held the position of President with XTC Cabaret, Inc., which we
subsequently  acquired.  From  November  1992 until January 1997, Mr. Langan was
the  President  of  Bathing Beauties, Inc.  Since 1989, Mr. Langan has exercised
managerial  control  over  the grand openings and operations of more than twelve
adult entertainment businesses.  Mr. Langan has also been an officer of Citation
Land  LLC, which owned commercial income real estate in Houston, Texas, which we
also  subsequently acquired.  Since 1998, Mr. Langan has been a Director and the
Chief  Executive  Officer  and  Chief  Accounting Officer of our parent company,
Rick's  Cabaret  International,  Inc.

     On October 28, 2002, in the matter in the Circuit Court of Mobile, Alabama,
against Eric Langan, our President and Director, the State of Alabama prosecutor
made  a motion not to prosecute the case against Mr. Langan which was granted by
the  Court.  The State's declining to prosecute Mr. Langan concluded the matter.
The  charges  had  been  in  connection  with  a  tanning  salon that Mr. Langan
previously  owned and sold more than five years ago. The charges were completely
and  totally  unrelated  to  our  operations  or  activities,  or  Mr.  Langan's
relationship  as  our  President and Director. The charges related to a recently
enacted  statute  in  Alabama  aimed  at  the  adult entertainment business. The
charges  were  in connection with acts that purportedly occurred in January 2001
and  March  2001,  more  than five years after Mr. Langan sold the tanning salon
business.

CERTAIN  SECURITY  FILINGS

     We believe that all persons subject to Section 16(a) of the Exchange Act in
connection  with  us  have  complied  on  a  timely  basis.

     We  have no compensation, nominating or audit committees. Mr. Langan is our
only  director  and  officer.

ITEM  10.     EXECUTIVE  COMPENSATION

SUMMARY  COMPENSATION  TABLE

<TABLE>
<CAPTION>
                     Annual  Compensation        Long  Term  Compensation
                                                  Awards                Payouts
                                     Other                  Securities              All
Name and                             Annual     Restricted  Underlying              Other
Principal                            Compen-      Stock      Options/     LTIP      Compen-
Position   Year   Salary   Bonus     sation (1)   Awards       SARs      Payouts    sation
<S>        <C>   <C>       <C>       <C>        <C>         <C>         <C>        <C>
Eric       2002  $ -0-(2)    -0-         -0-         -0-         -0-         -0-      -0-
Langan     2001  $ -0-(2)    -0-         -0-         -0-         -0-         -0-      -0-
           2000  $ -0-(2)    -0-         -0-         -0-         -0-         -0-      -0-
</TABLE>


                                       10
<PAGE>
________________________
(1)  We  provide  Mr.  Langan with certain personal benefits. Since the value of
     such  benefits  does  not  exceed  the  lesser  of $50,000 or 10% of annual
     compensation,  the  amounts  are omitted. Mr. Langan is also an employee of
     our parent, Rick's Cabaret International, Inc. which owns 93% of our common
     stock.  Mr. Langan receives compensation from Rick's Cabaret International,
     Inc.

(2)  Our  parent, Rick's Cabaret International, Inc. paid Mr. Langan $260,000 as
     compensation  in  fiscal  2002, $239,600 as compensation in fiscal 2001 and
     $175,890 as compensation in fiscal 2000, none of which was allocated to us.

DIRECTOR  COMPENSATION

     We  do  not  currently  pay  any  cash  director's fees, but we may pay the
expenses,  if  any,  of  our  directors  in  attending  board  meetings.

EMPLOYEE  STOCK  OPTION  PLAN  AND  EQUITY  COMPENSATION  PLAN  INFORMATION

     We  do  not  presently  have an equity compensation plan nor a stock option
plan,  and  we  have  no  present  intention to implement such plan.  We have no
outstanding  stock  options.

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

     The  following  table  sets forth certain information at November 18, 2002,
with  respect  to the beneficial ownership of shares of common stock by (i) each
person  known to us who owns beneficially more than 5% of the outstanding shares
of  Common  Stock,  (ii)  each  of  our  Directors,  (iii) each of our executive
officers and (iv) all of our executive officers and directors as a group. Rick's
Cabaret International, Inc. has sole voting and investment power with respect to
the  shares  shown  as  beneficially owned by it. As of November 18, 2002, there
were  approximately  4,310,012  shares  of  our  common  stock  outstanding.

<TABLE>
<CAPTION>
Name and                                Number of            Title of              Percent
Address                                 Shares               Class                 of Class
___________________________________________________________________________________________
<S>                                    <C>                   <C>                   <C>
Rick's Cabaret International, Inc.
505 North Belt, Suite 630
Houston, Texas 77060                    4,002,006  (1)       Common  Stock         93.0%

Eric  Langan
505  North  Belt,  Suite  630
Houston,  Texas  77060                  -0-  (1)             Common  Stock          0.0%

All  directors  and  officers  as
a  group  (one  person)                 -0-                  Common  Stock          0.0%
</TABLE>


                                       11
<PAGE>
_________________________________
(1)  Mr.  Langan  is  a  Director  and  President  of our parent, Rick's Cabaret
     International,  Inc.

     We  are  not  aware  of  any  arrangements that could result in a change of
     control.

     The  disclosure  required  by Item 201(d) of Regulation S-B is set forth in
     ITEM  5  herein.

ITEM  12.     CERTAIN  RELATIONSHIPS  AND  RELATED  TRANSACTIONS

     Our  current  Board of Directors has adopted a policy that our affairs will
be  conducted  in  all  respects  by  standards  applicable  to  publicly-held
corporations  and  that  we  will  not  enter into any transactions and/or loans
between  us and our officers, directors and 5% stockholders unless the terms are
no  less  favorable  than  could be obtained from independent, third parties and
such  transactions  must  be  approved  by  a  majority  of  our  independent,
disinterested  Directors.

     We  had  allocated  $300,000  to  our  parent  company,  Rick's  Cabaret
International  , Inc. in management fees expensed during each of the years ended
September  30,  2002  and  2001  (included  in  other general and administrative
expenses).  Rick's  Cabaret  International,  Inc.  owns approximately 93% of our
common  stock.

ITEM  13.     EXHIBITS  AND  REPORTS  ON  FORM  8-K

(a)     Exhibits

               None.

(b)     Reports  on  Form  8-K.

               None.

ITEM  14.     CONTROLS  AND  PROCEDURES

     Eric  Langan,  our Chief Executive Officer and Chief Financial Officer, has
concluded  that  our  disclosure  controls  and  procedures  are appropriate and
effective.  He  has  evaluated these controls and procedures as of a date within
90  days  of  the  filing  date  of  this  report on Form 10-KSB.  There were no
significant  changes  in  our  internal  controls or in other factors that could
significantly  affect these controls subsequent to the date of their evaluation,
including  any  corrective  actions  with regard to significant deficiencies and
material  weaknesses.


                                       12
<PAGE>
              TAURUS ENTERTAINMENT COMPANIES, INC. AND SUBSIDIARIES

                        CONSOLIDATED FINANCIAL STATEMENTS

                     YEARS ENDED SEPTEMBER 30, 2002 AND 2001



                                TABLE OF CONTENTS



Report  of  Independent  Auditors                                            F-2

Combined  Financial  Statements:

     Consolidated  Balance  Sheets                                           F-3

     Consolidated  Statements  of  Operation                                 F-4

     Consolidated  Statements  of  Stockholders'  Equity                     F-5

     Consolidated  Statements  of  Cash  Flows                               F-6

Notes  to  Consolidated  Financial  Statements                               F-7


                                      F-1
<PAGE>
                         REPORT OF INDEPENDENT AUDITORS


To  the  Board  of  Directors  and  Stockholders'  of
Taurus  Entertainment  Companies,  Inc.  and  subsidiaries

We  have  audited  the  accompanying  consolidated  balance  sheet  of  Taurus
Entertainment  Companies,  Inc.  and  subsidiaries  as of September 30, 2002 and
2001,  and  the  related  consolidated  statements  of operations, stockholders'
equity  and  cash flows for the years then ended. These financial statements are
the  responsibility  of  the  Company's  management.  Our  responsibility  is to
express  an  opinion  on  these  consolidated  financial statements based on our
audits.

We conducted our audits in accordance with auditing standards generally accepted
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 consolidated financial statements referred to above present
fairly,  in all material respects, the consolidated financial position of Taurus
Entertainment  Companies,  Inc.  and  subsidiaries  as of September 30, 2002 and
2001,  and  the  results  of their operations and their cash flows for the years
then  ended  in  conformity with accounting principles generally accepted in the
United  States  of  America.



Dallas,  Texas
November  6,  2002


                                      F-2
<PAGE>
<TABLE>
<CAPTION>
                TAURUS ENTERTAINMENT COMPANIES, INC. AND SUBSIDIARIES

                             CONSOLIDATED BALANCE SHEETS

                                                                 SEPTEMBER 30,
                                                              2002          2001
                                                          ------------  ------------
<S>                                                       <C>           <C>
ASSETS
Current assets:
  Cash                                                    $    50,656   $    94,660
  Accounts receivable                                           3,757        37,637
  Other current assets                                          8,522        11,267
                                                          ------------  ------------
Total current assets                                           62,935       143,564
                                                          ------------  ------------

Property, plant and equipment, net                          2,135,490     1,938,191

Notes receivable                                               55,966       105,902
                                                          ------------  ------------

Total assets                                              $ 2,254,391   $ 2,187,657
                                                          ============  ============

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Accounts payable - trade                                $    51,564   $    75,337
  Current maturities of long-term debt                          9,923       147,338
  Payable to Parent                                           551,398       333,214
  Accrued expenses                                             42,958        42,544
                                                          ------------  ------------
Total current liabilities                                     655,843       598,433

Long-term debt, less current maturities                       453,358       463,281
                                                          ------------  ------------

 Total liabilities                                          1,109,201     1,061,714
                                                          ------------  ------------

Commitments and contingencies                                       -             -

Stockholders' equity:
  Preferred stock - $.10 par, authorized
      10,000,000 shares; none issued and outstanding                -             -
  Common stock - $.01 par, authorized 20,000,000 shares;
       issued and outstanding 4,310,012 shares                  4,310         4,310
  Additional paid-in capital                                4,026,428     4,026,428
  Accumulated deficit                                      (2,885,548)   (2,904,795)
                                                          ------------  ------------
Total stockholders' equity                                  1,145,190     1,125,943
                                                          ------------  ------------

Total liabilities and stockholders' equity                $ 2,254,391   $ 2,187,657
                                                          ============  ============
</TABLE>


See accompanying notes.
                                      F-3
<PAGE>
<TABLE>
<CAPTION>
              TAURUS ENTERTAINMENT COMPANIES, INC. AND SUBSIDIARIES

                      CONSOLIDATED STATEMENTS OF OPERATIONS


                                    YEAR ENDED SEPTEMBER 30,
                                        2002        2001
                                     ----------  ----------
<S>                                  <C>         <C>
Revenues:
  Sales of non-alcoholic beverages   $  166,575  $  181,393
  Service revenues                    1,109,680   1,322,623
  Other                                  33,708      34,807
                                     ----------  ----------

                                      1,309,963   1,538,823
                                     ----------  ----------

Operating expenses:
  Cost of goods sold                     66,078      91,455
  Salaries and wages                    377,971     323,772
  Other general and administrative:
    Taxes and permits                   137,637     148,112
    Charge card fees                      3,046       4,225
    Legal and accounting                 42,859      82,582
    Advertising                          58,082      65,467
    Other                               550,844     529,889
                                     ----------  ----------

                                      1,236,517   1,245,502
                                     ----------  ----------

Income from operations                   73,446     293,321

Interest expense                         54,199      82,549
                                     ----------  ----------

Net income                           $   19,247  $  210,772
                                     ==========  ==========


Basic net income per common share    $     0.00  $     0.05
                                     ==========  ==========

Weighted average shares outstanding   4,310,012   4,310,012
                                     ==========  ==========
</TABLE>


See accompanying notes.
                                      F-4
<PAGE>
<TABLE>
<CAPTION>
                  TAURUS ENTERTAINMENT COMPANIES, INC. AND SUBSIDIARIES

                     CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

                     FOR THE YEARS ENDED SEPTEMBER 30, 2002 AND 2001


                                Common Stock
                             -------------------   Additional
                             Number of              Paid-in     Accumulated
                              Shares     Amount     Capital       Deficit       Total
                             ---------  --------  ------------  ------------  ----------
<S>                          <C>        <C>       <C>           <C>           <C>
Balance, September 30, 2000  4,305,012  $  4,305  $  4,026,383  $(3,115,567)  $  915,121

Issuance of common shares        5,000         5            45            -           50

Net income                           -         -             -      210,772      210,772
                             ---------  --------  ------------  ------------  ----------
Balance, September 30, 2001  4,310,012  $  4,310  $  4,026,428  $(2,904,795)  $1,125,943

Net income                           -         -             -       19,247       19,247
                             ---------  --------  ------------  ------------  ----------

Balance, September 30, 2002  4,310,012  $  4,310  $  4,026,428  $(2,885,548)  $1,145,190
                             =========  ========  ============  ============  ==========
</TABLE>


See accompanying notes.
                                      F-5
<PAGE>
<TABLE>
<CAPTION>
              TAURUS ENTERTAINMENT COMPANIES, INC. AND SUBSIDIARIES

                      CONSOLIDATED STATEMENTS OF CASH FLOWS


                                                 YEAR ENDED SEPTEMBER 30,
                                                     2002        2001
                                                  ----------  ----------
<S>                                               <C>         <C>
OPERATING ACTIVITIES
Net income                                        $  19,247   $ 210,772
Adjustments to reconcile net income to net
  cash provided by operating activities:
  Depreciation and amortization                      70,187      65,989
  Issuance of common shares for expense                   -          50
  Changes in assets and liabilities:
    Accounts receivable                              33,880      (1,224)
    Other assets                                      2,745      29,456
    Accounts payable and accrued liabilities        (23,359)     (3,686)
                                                  ----------  ----------
Net cash provided by operating activities           102,700     301,357
                                                  ----------  ----------

INVESTING ACTIVITIES
  Additions to property and equipment              (267,486)    (41,816)
  Proceeds from note receivable                     105,936           -
  Issuance of note receivable                       (56,000)          -
                                                  ----------  ----------
Net cash used by investing activities              (217,550)    (41,816)
                                                  ----------  ----------

FINANCING ACTIVITIES
  Payments on long-term debt                       (147,338)   (335,955)
  Increase payable to Parent                        218,184     135,890
                                                  ----------  ----------
Net cash provided (used) by financing activities     70,846    (200,065)
                                                  ----------  ----------

Net increase (decrease) in cash                     (44,004)     59,476

Cash at beginning of year                            94,660      35,184
                                                  ----------  ----------

Cash at end of year                               $  50,656   $  94,660
                                                  ==========  ==========

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

  Cash paid during the year for interest          $  54,199   $  82,549
                                                  ==========  ==========
</TABLE>


See accompanying notes.
                                      F-6
<PAGE>
             TAURUS ENTERTAINMENT COMPANIES, INC. AND SUBSIDIARIES

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

A.     NATURE  OF  BUSINESS

Taurus  Entertainment  Companies,  Inc.  ("Taurus" or the "Companies"), formerly
Taurus  Petroleum,  Inc., changed its name in November 1997 to reflect its entry
into  the  adult  entertainment  business.  The  Company,  which was formed as a
Colorado  corporation  in  1977,  was  previously  an  independent  oil  and gas
exploration, development and production company until it divested all of its oil
and  gas assets in July 1996.  In November 1997, Taurus' stockholders approved a
1  for  300  reverse  common  stock split and the number of authorized shares of
common  stock  was reduced from 200,000,000 to 20,000,000.  Additionally, Taurus
authorized  10,000,000  shares  of  preferred  stock.  On  August  4,  1998, the
Company's  principal  shareholders entered into an agreement with Rick's Cabaret
International, Inc. ("Rick's"), whereby Rick's acquired approximately 93% of the
outstanding  common  stock of the Company.  Rick's is a publicly held company in
the  adult  entertainment  business.


B.     SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES

A summary of the Companies' significant accounting policies consistently applied
in  the  preparation  of  the  accompanying  financial  statements  follows:

BASIS  OF  ACCOUNTING

The Company's financial statements have been presented on the basis that it is a
going concern, which contemplates the realization of assets and the satisfaction
of liabilities in the normal course of business. The financial statements do not
include  any adjustments that might result from the outcome of this uncertainty.
The  Company  is  reporting  a  working  capital  deficit of $592,908 and has an
accumulated  deficit  of  $2,885,548  at  September  30,  2002.

The Company has become profitable in the years ended September 30, 2002 and 2001
and  management  believes  it  has  implemented  plans that will ensure that the
Company  will  continue  to  be  profitable.

PRINCIPLES  OF  CONSOLIDATION

The  consolidated  financial  statements include the accounts of the Company and
its  wholly-owned  subsidiaries.  All  significant  intercompany  balances  and
transactions  are  eliminated  in  consolidation.

USE  OF  ESTIMATES

The  preparation  of  financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect  certain  reported  amounts and disclosures.  Accordingly, actual results
could  differ  from  these  estimates.


                                      F-7
<PAGE>
             TAURUS ENTERTAINMENT COMPANIES, INC. AND SUBSIDIARIES

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

B.     SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  -  CONTINUED

REVENUE  RECOGNITION

The Company recognizes all revenues at point-of-sale upon receipt of cash, check
or  charge  sale.

NET  INCOME  PER  COMMON  SHARE

The Company reports earnings per share in accordance with Statement of Financial
Accounting Standards No. 128, Earnings Per Share ("SFAS 128"). SFAS 128 provides
a  different  method of calculating earnings per share than was formerly used in
APB  Opinion  15.  SFAS  128  provides  for the calculation of basic and diluted
earnings  per  share.  Basic  earnings  per  share  includes  no dilution and is
computed  by  dividing  income  available to common stockholders by the weighted
average  number  of common shares outstanding for the period.  Dilutive earnings
per  share  reflect the potential dilution of securities that could share in the
earnings  of  the  Company.  Because  the  Company  has  no  potential  dilutive
securities  outstanding,  the  accompanying presentation is only of basic income
per  share.

CASH  AND  CASH  EQUIVALENTS

For  purposes  of  the statement of cash flows, the Company considers all highly
liquid  debt  instruments purchased with an original maturity of three months or
less  to  be  cash  equivalents.  No  such  short term investments existed as of
September  30,  2002  and  2001.

The  Company  invests its cash and certificates of deposit primarily in deposits
with  major  banks.  Certain  deposits  may  be  in  excess of federally insured
limits.  The Company has not incurred losses related to its cash on deposit with
banks.

PROPERTY  AND  EQUIPMENT

Property  and  equipment  are  carried  at  cost  and  depreciated  using  the
straight-line  method  for financial statement.  Expenditures for major renewals
and  betterments  that  extend  the  useful  lives of property and equipment are
capitalized.  Expenditures for maintenance and repairs are charged to expense as
incurred.  Property  and  equipment  secures  the  companies'  long-term  debt.
Estimated  useful  lives  for  property  and  equipment  are  as  follows:

                    Building  and  improvements              31 years
                    Furniture  and  fixtures                  7 years
                    Equipment                             5 - 7 years
                    Leasehold  improvements                  10 years

INVENTORIES

Inventories, consisting principally of food products, are stated at the lower of
cost  or  market  (first-in,  first-out  method).


                                      F-8
<PAGE>
             TAURUS ENTERTAINMENT COMPANIES, INC. AND SUBSIDIARIES

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

B.     SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  -  CONTINUED

LAND  HELD  FOR  SALE

The  Companies'  property  held  for  sale  consists of land located in Decatur,
Texas.  During  2002  the  Company  decided  to  hold  the  land  as  an  asset,
accordingly,  the  land has been reclassified to plant, property, and equipment.

FAIR  VALUE  OF  FINANCIAL  INSTRUMENTS

The  carrying  value  of  cash  and  cash  equivalents, accounts receivable, and
accounts  payable  approximates  fair  value  due to the short maturity of these
instruments.  The  carrying  value  of  the notes payable also approximates fair
value  given  that  it  bears  a market rate of interest.  None of the financial
instruments  are  held  for  trading  purposes.

INCOME  TAXES

The  Company  accounts  for  its  income  taxes  in accordance with Statement of
Financial  Accounting  Standards  No. 109, which reflects an asset and liability
approach  in  accounting  for  income  taxes.  The  objective  of  the asset and
liability  method  is  to  establish deferred tax assets and liabilities for the
temporary differences between the financial reporting basis and the tax basis of
the  Company's  assets  and  liabilities  at enacted tax rates expected to be in
effect  when  such  amounts  are  realized  or  settled.

RECLASSIFICATION

Certain  amounts  have  been  reclassified  to  conform  to  the  current year's
presentation.


C.     PLANT,  PROPERTY,  AND  EQUIPMENT

Property  and  equipment,  as  of  December  31, were composed of the following:

<TABLE>
<CAPTION>
                                  2002        2001
                               ----------  ----------
<S>                            <C>         <C>
Land                           $  942,007  $  942,007
                               ----------  ----------
Buildings and improvements        888,431     888,431
Furniture and fixtures            144,002     144,002
Equipment                         137,137     120,218
Leasehold improvements            306,825      56,259
                               ----------  ----------
                                2,418,402   2,150,917
Less accumulated depreciation     282,912     212,726
                               ----------  ----------

                               $2,135,490  $1,938,191
                               ==========  ==========
</TABLE>


                                      F-9
<PAGE>
             TAURUS ENTERTAINMENT COMPANIES, INC. AND SUBSIDIARIES

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

D.     LONG-TERM  DEBT

Long-term  debt  at  September  30,  consisted  of  the  following:

<TABLE>
<CAPTION>
                                                            2002      2001
                                                          ========  ========
<S>                                                       <C>       <C>
 Note payable to partnership maturing March 2026,
 due in monthly installments of $576 including principal
 and interest at 12%; secured by real estate.             $ 54,120  $ 54,512

 Note payable to partnership maturing July 2007,
 due in monthly installments of $653 including principal
 and interest at 12%; secured by real estate.               61,369    61,813

 Note payable to partnership maturing July 2007,
 due in monthly installments of $309 including principal
 and interest at 12%; secured by real estate.               29,220    29,404

 Note payable to individual maturing March 2006,
 due in monthly installments of $2,573, plus interest at
 9.25%; secured by real estate.                            300,052   303,023

 Note payable to corporation maturing April 2002,
 due in monthly installments of $13,758 including
 principal and interest at 10%; secured by real estate.          -   138,295

 Note payable to a finance company, payable $597 per
 month including interest at 9.9%, collateralized by
 equipment                                                  18,520    23,572
                                                          --------  --------
                                                           463,281   610,619
 Less current maturities                                     9,923   147,338
                                                          --------  --------
                                                          $453,358  $463,281
                                                          ========  ========
</TABLE>


                                      F-10
<PAGE>
             TAURUS ENTERTAINMENT COMPANIES, INC. AND SUBSIDIARIES

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

D.     LONG-TERM  DEBT  -  CONTINUED

Future  maturities  of  notes  payable  at  September  30, 2002  approximate the
following:

                        2003                                      $ 10,000
                        2004                                        11,000
                        2005                                        12,000
                        2006                                       291,000
                        2007                                         2,000
                        Thereafter                                 137,000
                                                                ----------

                                                                  $463,000
                                                                ==========

E.     FEDERAL  INCOME  TAXES

The  Company  will  be included in a consolidated federal income tax return with
its  parent.  No income taxes are payable since the consolidated group has a net
operating  tax  loss  carryforward  for the periods ended September 30, 2002 and
2000.  The  consolidated  group  has elected to not allocate taxes in periods in
which  no  tax  is  paid  by  the  group.

For  tax  purposes, the consolidated group has a net operating loss carryforward
amounting  to  approximately  $600,000  which  will  expire,  if  not  utilized,
beginning  in  2012.


F.     RELATED  PARTY  TRANSACTIONS

The  Company  was  allocated $300,000 in management fees expenses during each of
the  years  ended  September  30,  2002  and 2001 (included in other general and
administrative  expenses).


G.     COMMITMENTS  AND  CONTINGENCIES

The  Companies  have  entered  into  various non-cancelable operating leases for
office  space  and operating facilities.  Future minimum lease obligations as of
September  30,  2002  approximate  the  following:

                        2003              $     15,000
                        2004                     8,000
                                          ------------

                                          $     23,000
                                          ============


                                      F-11
<PAGE>
             TAURUS ENTERTAINMENT COMPANIES, INC. AND SUBSIDIARIES

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

G.     COMMITMENTS  AND  CONTINGENCIES  -  CONTINUED

The  Companies  are  involved  in various suits and claims arising in the normal
course  of  business.  In  management's  opinion,  the ultimate outcome of these
items  will  not  have  a  material  adverse effect on the Companies' results of
operations  or  financial  position.


                                      F-12
<PAGE>
                                   SIGNATURES


     In  accordance with the requirements of Section 13 of 15(d) of the Exchange
Act,  the  Registrant  has  caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized, on December 26, 2002.

                                       TAURUS  ENTERTAINMENT  COMPANIES,  INC.




                                       ___________________________________
                                       /s/  Eric  Langan
                                       Eric  Langan
                                       Director,  Chairman  of  the  Board,
                                       Chief  Executive  Officer,  President
                                       and  Chief  Financial  Officer


     Pursuant  to  the  requirements  of  the Exchange Act, this report has been
signed  below  by  the  following  persons  in  the  capacities and on the dates
indicated:


SIGNATURE                             TITLE                           DATE



________________________
/s/  Eric  Langan
Eric Langan               Director, Chairman of the Board,     December 26, 2002
                          Chief Executive Officer, President
                          and Chief Financial Officer


                                       13
<PAGE>
Certification of Chief Executive Officer of Taurus Entertainment Companies, Inc.
--------------------------------------------------------------------------------
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and Section 1350 of 18
--------------------------------------------------------------------------------
U.S.C.  63.
-----------

I,  Eric  Langan, the Chief Executive Officer of Taurus Entertainment Companies,
Inc.  hereby certify that Taurus Entertainment Companies, Inc.'s periodic report
on  Form  10-KSB  and  the financial statements contained therein fully complies
with  the  requirements of Section 13(a) or 15(d) of the Securities Exchange Act
of  1934 (15 U.S.C. 78m or 78o(d) and that information contained in the periodic
report  on  Form  10-KSB  and  the financial statements contained therein fairly
represents, in all material respects, the financial condition and results of the
operations  of  Taurus  Entertainment  Companies,  Inc.


Date:  December 26, 2002            /s/     Eric  Langan
                                            Eric Langan
                                            Chief Executive Officer of
                                            Taurus Entertainment Companies, Inc.




Certification of Chief Financial Officer of Taurus Entertainment Companies, Inc.
--------------------------------------------------------------------------------
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and Section 1350 of 18
--------------------------------------------------------------------------------
U.S.C.  63.
-----------

I,  Eric  Langan, the Chief Financial Officer of Taurus Entertainment Companies,
Inc.hereby  certify  that Taurus Entertainment Companies, Inc.'s periodic report
on  Form  10-KSB  and  the financial statements contained therein fully complies
with  the  requirements of Section 13(a) or 15(d) of the Securities Exchange Act
of  1934 (15 U.S.C. 78m or 78o(d) and that information contained in the periodic
report  on  Form  10-KSB  and  the financial statements contained therein fairly
represents, in all material respects, the financial condition and results of the
operations  of  Taurus  Entertainment  Companies,  Inc.


Date:  December 26, 2002            /s/     Eric  Langan
                                            Eric  Langan
                                            Chief  Financial  Officer  of
                                            Taurus Entertainment Companies, Inc.


                                       14
<PAGE>
CERTIFICATION  OF  CHIEF  EXECUTIVE  OFFICER

I,  Eric  Langan,  certify  that:
1.  I  have  reviewed  this annual report on Form 10-KSB of Taurus Entertainment
Companies,  Inc.
2.  Based  on  my  knowledge,  this  annual  report  does not contain any untrue
statement  of a material fact or omit to state a material fact necessary to make
the  statements  made, in light of the circumstances under which such statements
were  made,  not  misleading  with  respect to the period covered by this annual
report;
3.  Based  on  my  knowledge,  the  financial  statements,  and  other financial
information included in this annual, fairly present in all material respects the
financial  condition,  results of operations and cash flows of the registrant as
of,  and  for,  the  periods  presented  in  this  annual  report;
4.  The  registrant's  other  certifying  officers  and  I  are  responsible for
establishing  and  maintaining disclosure controls and procedures (as defined in
Exchange  Act  Rules  13a-14  and  15d-14)  for  the  registrant  and  have:
a)  designed  such  disclosure  controls  and procedures to ensure that material
information relating to the registrant, including its consolidated subsidiaries,
is  made  known  to  us by others within those entities, particularly during the
period  in  which  this  annual  report  is  being  prepared;
b)  evaluated  the  effectiveness  of  the  registrant's disclosure controls and
procedures  as  of a date within 90 days prior to the filing date of this annual
report  (the  "Evaluation  Date");  and
c)  presented  in  this annual report our conclusions about the effectiveness of
the  disclosure  controls  and  procedures  based  on  our  evaluation as of the
Evaluation  Date;
5. The registrant's other certifying officers and I have disclosed, based on our
most  recent evaluation, to the registrant's auditors and the audit committee of
registrant's  board  of  directors  (or  persons  performing  the  equivalent
functions):
a)  all significant deficiencies in the design or operation of internal controls
which  could  adversely  affect  the  registrant's  ability  to record, process,
summarize  and  report  financial  data and have identified for the registrant's
auditors  any  material  weaknesses  in  internal  controls;  and
b)  any  fraud,  whether  or  not  material,  that  involves management or other
employees who have a significant role in the registrant's internal controls; and
6.  The  registrant's  other  certifying  officers  and I have indicated in this
annual  report whether there were significant changes in internal controls or in
other  factors  that  could significantly affect internal controls subsequent to
the  date  of  our most recent evaluation, including any corrective actions with
regard  to  significant  deficiencies  and  material  weaknesses.

Date:  December  26,  2002

_______________________
/s/  Eric  Langan
Eric  Langan
Chief  Executive  Officer


                                       15
<PAGE>
CERTIFICATION  OF  CHIEF  FINANCIAL  OFFICER

I,  Eric  Langan,  certify  that:
1.  I  have  reviewed  this annual report on Form 10-KSB of Taurus Entertainment
Companies,  Inc.;
2.  Based  on  my  knowledge,  this  annual  report  does not contain any untrue
statement  of a material fact or omit to state a material fact necessary to make
the  statements  made, in light of the circumstances under which such statements
were  made,  not  misleading  with  respect to the period covered by this annual
report;
3.  Based  on  my  knowledge,  the  financial  statements,  and  other financial
information  included  in  this  annual  report,  fairly present in all material
respects  the  financial  condition, results of operations and cash flows of the
registrant  as  of,  and  for,  the  periods  presented  in  this annual report;
4.  The  registrant's  other  certifying  officers  and  I  are  responsible for
establishing  and  maintaining disclosure controls and procedures (as defined in
Exchange  Act  Rules  13a-14  and  15d-14)  for  the  registrant  and  have:
a)  designed  such  disclosure  controls  and procedures to ensure that material
information relating to the registrant, including its consolidated subsidiaries,
is  made  known  to  us by others within those entities, particularly during the
period  in  which  this  annual  report  is  being  prepared;
b)  evaluated  the  effectiveness  of  the  registrant's disclosure controls and
procedures  as  of a date within 90 days prior to the filing date of this annual
report  (the  "Evaluation  Date");  and
c)  presented  in  this annual report our conclusions about the effectiveness of
the  disclosure  controls  and  procedures  based  on  our  evaluation as of the
Evaluation  Date;
5. The registrant's other certifying officers and I have disclosed, based on our
most  recent evaluation, to the registrant's auditors and the audit committee of
registrant's  board  of  directors  (or  persons  performing  the  equivalent
functions):
a)  all significant deficiencies in the design or operation of internal controls
which  could  adversely  affect  the  registrant's  ability  to record, process,
summarize  and  report  financial  data and have identified for the registrant's
auditors  any  material  weaknesses  in  internal  controls;  and
b)  any  fraud,  whether  or  not  material,  that  involves management or other
employees who have a significant role in the registrant's internal controls; and
6.  The  registrant's  other  certifying  officers  and I have indicated in this
annual  report whether there were significant changes in internal controls or in
other  factors  that  could significantly affect internal controls subsequent to
the  date  of  our most recent evaluation, including any corrective actions with
regard  to  significant  deficiencies  and  material  weaknesses.

Date:  December  26,  2002

_______________________
/s/  Eric  Langan
Eric  Langan
Chief  Financial  Officer


                                       16
<PAGE>