Commission File No. 000-33129


                     U.S. SECURITIES AND EXCHANGE COMMISSION
                              Washington D.C. 20549


                                   FORM 10-KSB


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


                  For the Fiscal Year Ended: December 31, 2002


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


                     For the Transition Period From __ to __


                                INETEVENTS, INC.
        _________________________________________________________________
        (Exact Name of Small Business Issuer as Specified in its Charter)


              Delaware                                        95-4581903
   _______________________________                        ___________________
   (State or other jurisdiction of                         (I.R.S. Employer
    incorporation or organization)                        Identification No.)


 1880 Century Park East, Suite 300
       Los Angeles, California                                           90067
________________________________________                              __________
(Address of principal executive offices)                              (Zip code)


                       9171 Wilshire Boulevard, Suite 600
                             Beverly Hills, CA 90210
                      _____________________________________
                      (Former address of executive offices)


Issuer's telephone number: (310) 734-9064


Securities to be registered pursuant to Section 12(b) of the Act:

                                      none

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

                               $.0005 Common Stock
                               ___________________
                                (Title of Class)

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

<PAGE>


         Check 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 II of this Form 10-K or any amendments to this
Form 10-K. /X/

         As of December 31, 2002, there were 11,260,500 shares of the
registrant's Common Stock, $.0005 par value, outstanding.

         The aggregate market value of the voting shares of Common Stock held by
non-affiliates of the registrant, as of the last business day and registrant's
most recently completed fiscal quarter is $2,925,156 and as of the date here of
is $2,812,650.

         State the registrant's revenues for the December 31, 2002 fiscal year:
$22,350.


<PAGE>


                                TABLE OF CONTENTS

                                                                           PAGE


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

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

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

Item 4.  Submission of Matter to Vote of
         Security Holders . . . . . . . . . . . . . . . . . . . . . . . . .

Item 5.  Market for Common Registrant Equity and
         Related Stockholder Matter . . . . . . . . . . . . . . . . . . . .

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

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

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

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

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

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

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

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

         Signatures and Certifications. . . . . . . . . . . . . . . . . . .


<PAGE>


ITEM 1.           DESCRIPTION OF BUSINESS.

                  The following discussion contains "forward-looking statements"
that involve risk and uncertainties. These statements may be identified by the
use of terminology such as "beliefs," "experts," "may," "will," "should" or
"anticipates" or expressing this terminology negatively or similar expressions
or by discussions of strategy. The cautionary statements made should be read as
being applicable to all related forward-looking statements wherever they appear
in this Form 10-KSB. The actual results could differ materially from those
contained in this Form 10-KSB.

                  Important factors that could cause or contribute to such
differences include those discussed under the caption entitled "Risk Factors,"
as well as those discussed elsewhere in this Form 10-KSB.

Business Development

                  iNetEvents, Inc. (the "Company") (formerly Summit World
Ventures, Inc.) was incorporated on December 18, 1986 under the laws of the
State of Delaware to engage in any lawful corporate activity, including, but not
limited to, selected mergers and acquisitions. Prior to July 28, 2000, we were
in the developmental stage and could be defined as a "shell" company, whose sole
purpose was to locate and consummate a merger or acquisition with a private
entity, and we did not have any operations. On July 28, 2000, we acquired
iNetEvents, Inc., a Nevada corporation and commenced operations. As part of the
acquisition - a reorganization in the form of a reverse merger, iNetEvents,
Inc., a Nevada corporation, became our wholly-owned subsidiary, and there was a
change of our control. iNetEvents, Inc., a Nevada corporation, was incorporated
on February 3, 1999.

Pending Acquisition

                  On January 26, 2003, we entered into a Plan and Agreement of
Reorganization with International Card Establishment, Inc. (and GlobalTech
Leasing, Inc.) and its shareholders.

                  International Card Establishment, Inc. ("ICE"), is a provider
of diversified products and services to the electronic transaction processing
industry. All of the generated recurring revenues in the form of transaction
fees, service fees, or finance charges.

                                       4.
<PAGE>

                  Subject to our completion of the acquisition, our acquired
operations will take place through two additional wholly owned subsidiaries. One
operation will be known as International Card Establishment, Inc. and the other
will be known as GlobalTech Leasing, Inc. Inetevents, the Nevada corporation,
will also be maintained as a separate subsidiary. ICE's merchant card services
division establishes merchant accounts for business that enable those businesses
to accept credit cards, debit cards, and other forms of electronic payments from
their customers; supplies the necessary card readers and other point-of-sale
transaction systems; facilitates processing for the accounts; and, provides
Website hosting and e-commerce solutions. Through its worldwide gift & loyalty
division, ICE also markets a so-called Smart Card (a card that stores data
digitally on an embedded chip and not on the analog magnetic stripe) based
system that enables merchants to provide its proprietary gift cards and
incentive-purchase cards that will be merchant branded.

                  Although ICE's product and services address the needs of
individual business that accept credit cards and debit cards and other
electronic payments from their customers, the operations of both ICE and
GlobalTech Leasing, Inc. are geared predominantly toward serving the needs of
other service providers in the industry.

                  ICE's markets its services primarily to agents and independent
sales organizations throughout the United States that, in turn, solicit new
merchant account business from stores, restaurants, services companies, and
numerous other types of retail businesses in their local markets. This approach
enables ICE to benefit from the efforts of a large and experienced sales force
with access to merchants over a broad geographic area without incurring the
overhead costs associated with an internal sales force.

                  GlobalTech Leasing, Inc. is a micro-ticket (under $5,000)
equipment leasing firm that specializes in financing point-of-sale card readers
and other forms of electronic payments. Since 1996, GlobalTech Leasing, Inc. has
developed a strong reputation in the industry for offering lease programs,
customer service, and training that are well suited to the needs of small to
mid-size agents and independent sales organizations.

                  GlobalTech Leasing, Inc. presently does business with
 approximately 350 agents and independent sales organizations throughout the
U.S., and processes approximately 20 new leases

                                       5.
<PAGE>


per day.  In total, it currently  derives revenues from approximately 9,000
active leases.


                  GlobalTech Leasing, Inc. targets agents and independent sales
organizations that have between 2 and 15 sales people on the streets, and
generate between 20 and 50 new point-of-sales equipment contacts per month. Of
this number, approximately half, or 10 to 25 contracts, are likely to be
financed through leases.

                  A copy of the Plan and Agreement of Reorganization with
International Card Establishment, Inc. (and GlobalTech Leasing, Inc.) and its
shareholders, is attached as an exhibit to the Form 8-K filed on January 31,
2003. Upon the closing of the transaction, there may be a change of control.


Our Current Principal Services


                  We currently provide Internet support and supply software for
real time event/convention information management. We develop, market and
distribute our computer software that help hosts of events such as conventions,
trade shows and seminars manage and grow their event business. Our software
products can be categorized into two broad areas: application service provider
systems software and system software. The application service provider software
allows users to access information or use the applications through a simple
Internet browser on any client computer, and automates the performance of
specific business data processing functions for the event producer who proposes
to host an event. In addition to computer software products, we offer a limited
range of consulting, education and supporting service for the event producer,
provided that said event producer is our customer or client. Systems software is
a complete platform to develop and deploy applications on the Internet and
corporate intranets, and includes database management software and development
tools that allow users to create, retrieve and modify various types of data
located on our servers.

                  We believe that electronic commerce (the exchange of goods
and/or services electronically over the Internet) is revolutionizing businesses
by providing a relatively low-cost means of distributing goods and services and
expanding markets globally, increasing efficiencies, and providing better, more
personalized customer services. As organizations are changing the way they
interact with their customers, communicate, share

                                       6.
<PAGE>

knowledge and share value, we believe that to remain competitive, the
development and deployment of a web-based hosting application for conventions,
trade shows, sales meetings and seminars on the Internet is compatible with the
concept of electronic commerce.

                  We intend to continually enhance our existing products and
intend to develop new products to meet our customers changing requirements as
well as to expand our product base.

iNetEvents Enterprise Edition (System Software)

                  We develop and market our software product for event
producers, organizations, and companies that host ten or more events per year.
In this case, the customer installs our software on their own servers. The event
producer has the flexibility to integrate our package with any other enterprise
application used by the event producer as well as add or modify our own events.
The software provides for advance registration, scheduling, previewing of
exhibits and speakers, product sales, and Internet email communications. The
system provides for computerized accounting and billing functions, credit card
processing, and accounting management information for the event producer.

iNetEvents Online Services (Application Service Provider)

                  The primary service that we offer is a version of the
Enterprise Edition (described above) delivered electronically via the Internet.
With a simple browser and network connection, the event producer can access our
Internet business applications at costs significantly lower than a traditional
deployment. While the event producer-customer owns the content that is created
on our server, we own the hardware, manage the application and server
architecture, maintain and upgrade the software and provide technical support
for the customer's operations. The hardware and software are managed at our
leased facilities in Los Angeles. We currently offer this service as iNetEvents
Premier, however we anticipate that we will offer additional online services
(iNetEvents Presto) in the future.

                  A.       iNetEvents Premier

                  The primary online service that we offer is a version of our
Enterprise Edition (described above) via the Internet. This full-featured online
service allows event producers to market their events electronically, offer
event registration via our e-commerce service as well as provide a range of
event

                                       7.
<PAGE>

oriented content. We provide in house hosting of singular or multiple events
that have potential participants of from 100 to 10,000 attendees.

                  B.       iNetEvents Presto

                  We have developed and will commence marketing in 2003, on our
server, iNetEvents Presto, a software product that will permit event producers
who have potential participants from 2 to 100 attendees to host an event on our
server. We had intended to commence marketing of iNetEvents Presto in 2002, but
we did not have sufficient capital to effectively market the product. We will
provide minimal consulting services in connection with creating the content but
the iNetEvents Presto software will be designed so that the event producer will
be able to manage and make changes, by accessing our secured website through our
Internet browser.

iNetEvents Professional Services

                  We implement the event producer's specific needs by offering a
range of professional services that allow our customers to take full advantage
of the Web-based products we offer. These professional services fall into three
primary categories including customization, consulting, training and support
services.

                  A.       Consulting Services

                  We will help an event producer articulate his event needs,
define event goals and objectives, reach achievable benchmarks, develop and
evaluate mechanisms to measure success, specify engineering and design
requirements, and provide the necessary data to approach the Internet with a
solid, well-grounded plan.

                  B.       Customization Services

                  We provide a range of design and development services that are
utilized to make our customer's use of our software more effective. We believe
that building a successful event website and related intranet and extranet
programming is much more complicated than the utilization of the hypertext
markup language (HTML) coding. Our technical department uses fundamental,
advanced and specialized technologies in web design and development and we will
expertly assist the event producer in managing our Internet event project from
the planning stage to the post event stage.

                                       8.

<PAGE>

                  C.       Training and Support

                  We offer a range on in house and Web-based training and
support services to our customers.

General Software Features

                  The creation of a fully customized, self-branded web-based
"wrapper" for the event producer extends the web producer's marketing and
promotional efforts to an audience and the duration of the physical event. We
believe that the web-based exhibitor and attendee registration will reduce the
event producer's administrative costs and will enhance the ability to reach
event attendees and exhibitors readily available to the event producer.

                  The ability to register, manage and communicate with event
exhibitors, attendees, and the press via the Internet and the capability to
access a central database reduce both management time and overhead costs. Real
time event management provides the event producer with up-to-date information
and allows the event producer, with limited Internet and Internet authoring, a
more satisfying experience for the exhibitors and attendees. The attendees have
the ability to participate in the event producer's event prior, during and after
the physical event. Further, we provide the attendees with the option to
schedule activities, sessions, seminars and meetings with exhibitors at the
physical event which we believe will save the attendees time in planning their
participation and event experience. The event attendee can gather information
about event seminars, sessions, key notes and other activities via the Internet
and the participants can conduct e-commerce in a way that is easy, secure and
convenient.

Factors That May Affect Future Results and Market Price of Stock

                  We operate in a rapidly changing environment that involves
numerous risks, some of which are beyond our control. The following discussion
highlights some of these risks.

1.       Unless we obtain loans or additional funding, we may not be able to
         continue as a going concern.

                  Our auditor's going concern opinion and the notation in the
financial statements indicate that we have significant operating losses, working
capital deficiency and significant

                                       9.
<PAGE>

capital requirements which raise substantial doubt about our ability to continue
as a going concern. We have had a net loss of $189,798 from our inception to
December 31, 1999, we have had a net loss of $366,706 for the year ended
December 31, 2000 and we have a net loss of $437,321 for the year ended December
31, 2001. We have a net loss of $245,820 for the year ended December 31, 2002.
We anticipate that we will continue to experience losses as we continue
implementing our expansion program. Until such time as we have revenues in
excess of expenditures, we will be required to secure loans and if we do not
secure the loans (or raise additional capital if loans or funding are not
forthcoming), we may not be successful in continuing to operate our business.

2.       We have minimal operating history and revenue and we have minimal
         assets.

                  We commenced operations in February of 1999. Subsequently, we
leased office facilities in April of 1999 and began the development of our
product. In August of 1999 we released the first "beta" version of our
Enterprise Edition. From August 1999 through February of 2000 we further refined
our software applications and officially offered our services and products in
February, 2000 on a limited basis. Accordingly, we have an extremely limited
operating history upon which an evaluation and our business can be based. Our
business must be considered in light of the risks, expenses and problems
frequently encountered by companies in their early stage of development,
particularly companies in new and rapidly evolving markets such as the Internet.
Specifically, such risks include our failure to anticipate and adopt to a
developing market, the rejection of our services by event producers,
organizations and companies that host events, development of equal or superior
services or products by competitors, and the inability to identify, attract,
retain and motivate qualified personnel. There can be no assurance that we will
be successful in addressing such risks.

3.       There can be no assurance that we can generate revenue growth, or that
         any revenue growth that is achieved can be sustained.

                  Revenue growth that we may achieve may not be indicative of
future operating results. In addition, we have increased, and plan to
significantly increase further, our operating expenses in order to increase our
sales and marketing efforts, fund greater levels of product development,
increase our

                                       10.
<PAGE>

marketing staff, and increase our general and administrative costs
to support the enlarged organization. If there are no increased revenues, our
business, results of operations and financial condition will be materially
adversely affected. Given the initial level of planned expenditures, we
anticipate that we may continue to incur losses for the foreseeable future and
there can be no assurance that we will ever achieve or sustain profitability.

4.       Our success is dependent on event producers utilizing the Internet.

                  The market for our services and products has recently begun to
develop, is rapidly evolving and will be characterized by an increasing number
of market entrants. As a result, our mix of services and products may undergo
substantial changes as we react to competitive and other developments in the
overall Internet market. Our market is highly dependent upon the increased use
of the Internet for information, publication, distribution and commerce. In
particular, the Internet and businesses using the Internet is an unproven medium
for our products and services. Accordingly, our future operating results will
depend substantially upon the increased use of the Internet by individuals and
companies for event producers, organizations and companies that host events, the
emergence of the Internet as an effective business use medium and the successful
implementation of our services and products program. Moreover, critical issues
concerning the commercial use of the Internet (including security, reliability,
cost, east of use, access, quality of service and acceptance of advertising)
remain unresolved and may impact our growth. If the Internet does not develop as
an effective business medium for hosting events, our business, results of
operations and financial condition will be materially adversely affected.

5.       We face competition from other entities providing services similar to
         ours.

                  The market for all Internet services and products is intensely
competitive. Since there are no substantial barriers to entry, we expect
competition in these markets to intensify. We believe that the principal
competitive factors in these markets are name recognition, performance, ease of
use and functionality. Our existing competitors, as well as a number of
potential new competitors, may have longer operating histories in the Internet
market, greater name recognition, larger customer bases and databases and
significantly greater financial,

                                       11.
<PAGE>

technical and marketing resources. Such competitors may be able to undertake
more extensive marketing campaigns and make more attractive offers to potential
employees. Further, there can be no assurance that our competitors will not
develop services and products that are equal or superior to ours or that
achieve greater market acceptance than our offerings in the area of name
recognition, performance, ease of use and functionality. There can be no
assurance that we will be able to compete successfully against our current or
future competitors or that competition will not have a material adverse effect
on our business, results of operations and financial condition.

6.       The terrorist attacks of September 11, 2001 and the perceived dangers
         and delays in travel have had a significant negative effect of our
         business.

              The market in which we compete is specifically tied to the
corporate travel market. After the terrorist attacks of September 11, 2001, (and
to a lesser degree, the unrest in the Middle East) the travel market suffered a
significant downturn. This downturn dramatically effected iNetEvents sales as
most of the Company's clients either cancelled or postponed their scheduled and
booked events. Delays at airports have also contributed to a downturn in
convention and event travel only. While, we anticipate that this business will
return there can be no assurance that it will occur this year or in the
foreseeable future. This fact may have a significant material effect on our
business and financial results.

7.       Our success is dependent on keeping up with technological changes and
         is dependent upon the acceptance of our recently introduced products as
         well as developing new products.

                  The market in which we compete is characterized by rapidly
changing technology, evolving industry standards, frequent new service and
product announcements, introductions and enhancements and changing customer
demands. Market characteristics are exacerbated by the emerging nature of the
Internet. Accordingly, our future success will depend in significant part on our
ability to adapt to rapidly changing technologies, the ability to adapt our
services and products to evolving industry standards, and to continually improve
the performance, features and reliability of our services and products in
response to both evolving demands of the marketplace and competitive service and
product offerings. Our failure to adapt to such changes and evolution would have
a materially adverse effect on our business, results of operations and financial
condition.

                                       12.

<PAGE>

8.       If we have software defects, we may lose customers to other companies
         with similar products.

                  Our existing services or products or new releases, whether
improved versions or existing services or products or introductions of new
services or products, may contain undetected errors that require significant
design modifications, resulting in a loss of customer confidence and user
support and potentially having a material adverse effect on our services and
products and, consequently, our business, results of operations and financial
condition.

9.       We are dependent on the Internet.

                  The success of our services and products will depend in large
part upon the development of an infrastructure for providing Internet access and
services. Because online exchange of information of the Internet and other
similar open wide area networks are new and evolving, it is difficult to predict
with any assurance whether the Internet will provide to be a viable commercial
marketplace. The Internet has experienced, and is expected to continue to
experience, significant, geometric growth in the number of users and amount of
traffic. There can be no assurance that the infrastructure or complementary
services necessary to make the Internet a viable commercial marketplace will be
developed, or, if developed, that the Internet will become a viable commercial
marketplace for services and products such as those offered. If the necessary
infrastructure or complementary services or facilities are not developed, or if
the Internet does not become a viable commercial marketplace, our business,
results of operations and financial condition will be materially adversely
affected.

10.      We have a dependency on our computer infrastructure.

                  Substantially all of our development hardware and software and
certain of our computer hardware operations are located at a facility in Oxnard,
California, currently supplied by ICE at no cost or expense to us. There can be
no assurance that in the event we suffer any system failure at either our
facility in Los Angeles, California or a back up off premises location in
Oxnard, California we would not be adversely affected. There can be no assurance
that other Internet related system failures at any location would not adversely
affect the performance of our services. While we have taken steps to

                                       13.
<PAGE>

minimize the risks associated with power failures, fire, physical and electronic
security, telecommunications failures, any computer system is vulnerable to
damage from fire, floods, power loss, telecommunications failures, break-ins and
similar events. The occurrence of any of these risks could have a material
adverse effect on our business, results of operations and financial condition.

11.      We are highly dependent upon Brandon Stauber and if we lose Mr. Stauber
         or any of our key personnel, our business would be impaired.

                  Our success is highly dependent upon the management talent and
experience of our Chief Executive Officer and President, Brandon Stauber. Our
loss of Mr. Stauber could have a material adverse impact on our business. We do
not have a written employment agreement with Mr. Stauber and there can be no
assurance that we will be able to recruit or retain other qualified personnel,
should it be necessary to do so.


                                       14.


<PAGE>


12.      The possible Rule 144 sales by existing shareholders may have an
         adverse effect on the market value of the Company and the price of the
         stock.

                  7,588,358 of the our presently outstanding 11,260,500 shares
of Common Stock, including the 1,680,000 shares owned by Brandon Stauber and the
2,141,928 shares owned by Ronald J. Stauber, are "restricted securities" for
purposes of the federal securities laws, and in the future they may be sold in
compliance with Rule 144 adopted under the Act. Rule 144 provides in part that a
person who is not an affiliate and who holds restricted securities for a period
of two years may sell all or part of such securities. In addition, since we will
be filing certain informational reports with the Securities and Exchange
Commission, and if certain other conditions are satisfied, Rule 144 will allow a
person (including an affiliate) holding restricted securities for a period of
one year to sell each three months, provided he or she is not part of a control
group acting in concert to sell, an amount equal to the greater of the average
weekly reported trading volume of the stock during the four calendar weeks
preceding the sale, or one percent of the our outstanding common stock. We
cannot predict the effect, if any, that any such sales of common stock, or the
availability of such common stock for sale, may have on the market value of the
common stock prevailing from time to time. Sales of substantial amounts of
common stock by shareholders, particularly if they are affiliates, could have a
material adverse effect upon the market value of the common stock.

13.      We are reliant upon our management to be successful.

                  The rapid execution necessary for us to fully exploit the
market for our products and services requires an effective planning and
management process. Our growth is expected to continue to place, a significant
strain on our managerial, operational and financial resources. Our ability to
manage effectively will require it to continue to implement and improve our
operational, financial and management information systems and to attract,
identify, train, integrate and retain qualified personnel. These demands will
require the addition of new management personnel and the development of
additional expertise by existing management. Our success depends to a
significant extent on the ability of our officers to operate effectively, both
independently and as a group.

14.      We have a strong dependence on network infrastructure and there is a
         risk of system failure and loss of capacity.

                                       15.

<PAGE>


                  The future success of our business will depend on the
capacity, reliability and security of our network infrastructure. We will have
to expand and adapt our network infrastructure as the number of customers and
the amount and type of information they wish to utilize in event production
increase. Such expansion and adaptation of our network infrastructure will
require substantial financial, operational and management resources. There can
be no assurance that we will be able to expand or adapt our network
infrastructure to meet additional demand or changing subscriber requirements on
a timely basis and at a commercially reasonable cost, or at all. While our
objective is to maintain substantial excess capacity, any failure to expand or
enhance our network infrastructure on a timely basis and at a commercially
reasonable cost, or at all. While our objective is to maintain substantial
excess capacity, any failure to expand or enhance our network infrastructure on
a timely basis or to adapt it to an expanding subscriber base, changing
subscriber requirements or evolving industry standards could materially
adversely affect our business, financial condition and results of operations.

                  Our operations and services provided are dependent on the
extent to which our computer equipment is protected against damage from fire,
earthquakes, power loss, telecommunications failures and similar events. A
significant portion of our computer equipment, including critical equipment
dedicated to our Internet access services, is located at a single facility in
Los Angeles, California now. Despite precautions taken, the occurrence of a
natural disaster or other unanticipated problems at our headquarters, the
network hub could cause interruptions in the services provided. In addition,
failure of our telecommunications providers to provide the date communications
capacity required as a result of a natural disaster, operational disruption or
for any other reason could cause interruptions in the services provided. We do
maintain a fully redundant backup or our Internet services. In spite of the
backup, any accident, incident or system failure that causes interruptions in
our operations could have a material adverse effect on our ability to provide
Internet services to our even producers, and, in turn, on our business,
financial condition and results of operations.

15.      Although we have implemented safeguards to prevent unauthorized access
         to our application software, there always exists certain security risk
         that may cause interruption, delays or cessation in service.

                                       16.

<PAGE>


                  Despite the implementation of security measures, our network
infrastructure is vulnerable to computer viruses or problems caused by third
parties could lead to interruptions, delays or cessation in service to our event
producers. Inappropriate use of the Internet by third parties could also
potentially jeopardize the security or deter certain persons from using our
services. Such inappropriate use of the Internet would include attempting to
gain unauthorized access to information or systems - commonly known as
"cracking" or "hacking." Although we intend to continue to implement security
measures, such measures have been circumvented in the past, and there can be no
assurance that measures implemented will not be circumvented in the future.
Alleviating problems caused by computer viruses or other inappropriate uses or
security breaches may require interruptions, delays or cessation in service to
our operations. There can be no assurance that customers or others will not
assert claims of liability against us as a result of failures. Further, until
more comprehensive security technologies are developed, the security and privacy
concerns of existing and potential customers may inhibit the growth of the
Internet service industry in general and our customer base and revenues in
particular.

16.      We are dependent, in part, upon the copyright and trade secret laws to
         protect our proprietary technology; however, there is a risk that our
         competitors will be able to develop technologies that are equivalent or
         superior to ours.

                  Our success depends in part upon our software and related
documentation. We principally rely upon copyright, trade secret and contract law
to protect our proprietary technology. There can be no assurance that the steps
taken will be adequate to prevent misappropriation of our technology or that our
competitors will not independently develop technologies that are substantially
equivalent or superior to our technology.

17.      The unsettled law as it relates to online service companies creates a
         possibility that liability may result for information supplied by our
         customers that are disseminated through our software.

                  The law relating to the liability of Internet on-line services
companies for information carried on or disseminated through their networks is
unsettled. Several private lawsuits seeking to impose such liability upon
Internet on-line services companies are currently pending. Although no such
claims have ever been asserted against us, there can be no assurance that

                                      17.


<PAGE>

such claims will not be asserted in the future, or if asserted, will not be
successful. Furthermore, although we have attempted to limit our liability by
the terms of our standard service agreement, there can be no assurance that our
liability would be so limited in the event of any litigation or other claim
against us.

                  As the law in this area develops, the potential imposition of
liability upon us for information carried on and disseminated through our
network could require us to implement measures to reduce our exposure to such
liability, which may require the expenditure of substantial resources or the
discontinuation of certain products or service offerings. Any costs that are
incurred as a result of contesting any such assert claims or the consequent
imposition of liability could materially adversely affect our business,
financial condition and results of operation.

18.      There may be a volatility of our stock price.

                  Since our common stock is publicly traded, the market price of
the common stock may fluctuate over a wide range and may continue to do so in
the future. The market price of the common stock could be subject to significant
fluctuations in response to various factors and events, including, among other
things, the depth and liquidity of the trading market of the common stock,
quarterly variations in actual or anticipated operating results, growth rates,
changes in estimates by analysts, market conditions in the industry (including
demand for Internet access), announcements by competitors, regulatory actions
and general economic conditions. In addition, the stock market from time to time
experienced significant price and volume fluctuations, which have particularly
affected the market prices of the stocks of high technology companies, and which
may be unrelated to the operating performance of particular companies. As a
result of the foregoing, our operating results and prospects from time to time
may be below the expectations of public market analysts and investors. Any such
event would likely result in a material adverse effect on the price of the
common stock.

19.      You will receive no dividends on your investment.

                  We have never paid dividends. We do not anticipate declaring
or paying dividends in the foreseeable future. Our retained earnings, if any,
will finance the development and expansion of our business and the payment of
dividends will be at our board of directors discretion and contingent upon our


                                      18.
<PAGE>

financial condition, earnings, capital requirements, and other factors. Future
dividends may also be affected by covenants contained in loan or other financing
documents we may execute. Therefore, there can be no assurance that cash
dividends of any kind will ever be paid.

20.      If we issue future shares, present investors per share value will be
         diluted.

                  We are authorized to issue a maximum of 100,000,000 shares of
Common Stock at $0.005 par value and 10,000,000 shares of serial preferred stock
at $.01 par value. The board of directors authority to issue common stock and
preferred stock, or either, without shareholder consent under Delaware law, may
dilute the value of the outstanding common stock.

21.      There is currently a softening of demand for both computer hardware and
         software and if economic and business conditions deteriorate, said
         deterioration may have material affect on our business.

                  Our revenue growth and profitability depend on the overall
demand for computer, software and services. Because our sales are primarily to
business customers, our business also depends on general economic and business
conditions. A softening of demand for computer software caused by weakening of
the economy will result in decreased revenues or lower growth rates.

22.      Although we believe that we have complied will all accounting guidance
         in connection with the preparation of our financial statements, any
         changes may require us to restate or recast our financial statements
         which may have an adverse affect upon our business, results of
         operations or financial position.

                  In October 1997, the American Institute of Certified Public
Accountants ("AICPA") issued Statement of Position ("SOP") No. 97-2, "Software
Revenue Recognition" which superseded SOP No. 91-1. SOP No. 97-2 was effective
for our fiscal year beginning June 1, 1998, as amended by SOP No. 98-4 and SOP
No. 98-9, and provides guidance on applying generally, accepted accounting
principles for software revenue recognition transactions. Based on our
interpretation of the requirements of SOP No. 97-2, as amended, application of
this statement did not and is not expected to have a material impact on our
revenue. In December 1999, the Securities and Exchange Commission issued Staff
Accounting Bulletin No. 101 ("SAB 101"), "Revenue Recognition in

                                      19.
<PAGE>

Financial, Statements" which provides further revenue recognition guidance, the
accounting profession continues to review certain provisions of SOP No. 97-2
and SAB 101 with the objective of providing additional guidance on implementing
its provisions. Depending upon the outcome of these reviews and the issuance of
implementation guideline and interpretations, we may be required to change our
revenue recognition policies and business practices, and such changes could have
a material adverse effect on our business, results of operations or financial
position.

                  We have capitalize internal use software and website
development costs and we have estimated the useful life of the capitalized cost
as two years. As of December 31, 2002 and December 31, 2001 the balance of
capitalized software development costs were approximately $80,536 and $59,846,
respectively.


                                      20.

<PAGE>


23.      There can be no assurance that our new products will achieve
         significant market acceptance or will generate significant revenue.
         Additional products that we plan to directly or indirectly market in
         the future are in various stages of development. As of December 31,
         2002, the balance of capitalized software development costs was
         approximately $59,846.

                  The market for our services is characterized by rapid
technological advances in hardware and software development, evolving standards
in computer hardware and software technology and frequent new product
introductions and enhancements. Product introductions, such as iNetEvents
Presto, and possible short product life cycles may necessitate high levels of
expenditures for, research and development. To obtain a competitive position, we
must enhance and improve existing products and continue to introduce new
software and new versions of existing software that will satisfy increasingly
sophisticated customer requirements and achieve market acceptance. Our inability
or failure to successfully enhance and improve our products in a timely manner,
and position and/or price our products, could have a material adverse effect on
our business, results of operations or financial position.

                  If we were to experience delays in the commercialization and
introduction of new or enhanced software, if customers were to experience
significant problems with the implementation and installation of software, or if
customers were dissatisfied with software functionality or performance, this
could have a material adverse effect on our business, results of operations or
financial position.

                  We are dependent upon the development of new business
products. Our success is dependent, in part, upon the ability of our management
group to execute our business plan.

24.      Our pricing of the products may not be conducive to continued use.

                  Intense competition in the various markets in which we compete
may put pressure on us to reduce prices on our products. Changes in the
customer's use of our products could also result in lower license revenues if
our pricing model is not adapted to such usage. Any such price reductions and
resulting lower license revenues could have a material adverse effect on our
business, results of operations or financial position if we cannot offset these
price reductions with a corresponding increase in sales volumes or lower
spending.

                                      21.
<PAGE>


25.      Our growth is dependent upon the hiring and retention of employees.

                  Our continued growth and success depend to a significant
extent on the continued service of our senior management and other key employees
and the hiring of new qualified employees. Competition for highly-skilled
business, product development, technical and other personnel is becoming more
intense due to lower overall unemployment rates, the boom in information
technology spending and private companies that can offer greater equity
incentives that provide the potential of greater compensation in connection with
an initial public offering. Accordingly, we expect to experience increased
compensation costs that may not be offset through either improved productivity
or higher prices. There can be no assurances that we will be successful in
continuously recruiting new personnel and in retaining existing personnel. In
general, we do not have long-term employment or non-competition agreements with
our employees. The loss of one or more key employees or our inability to attract
additional qualified employees or retain other employees could have a material
adverse effect on the continued growth.

26.      We are in an extremely competitive environment.

                  The computer software industry is an intensely competitive
industry with several large vendors that develop and market databases,
application development tools, business applications and business intelligence
products. Almost all of these vendors have significantly greater, financial and
technical resources than us. The introduction of new competitive products into
one or more of our various markets, the addition of new functionality into an
existing competitive product or the acquisition by one of our competitors of a
product could have a material adverse effect on our business, results of
operations or financial position.

                  The rapid change in the computer software industry, coupled
with the lower barriers to entry, create an environment where new competition
may be expected.

                  New distribution methods (e.g. electronic channels) and
opportunities presented by the Internet and electronic commerce have removed
many of the barriers to entry historically faced by small and start-up companies
in the software industry. We expect to face increasing competition in the
various markets in which it competes.

                                      22.

<PAGE>

Employees

         We have two full time employees. See "Item 9 - Directors, Executive
Officers, Promoters and Control Persons - Resumes; Compliance with Section 16(a)
of the Exchange Act."

Competition

                  The market for all Internet services and products is intensely
competitive. Since there are no substantial barriers to entry, we expect
competition in these markets to intensify. We believe that the principal
competitive factors in these markets are name recognition, performance, ease of
use and functionality. Our existing competitors, as well as a number of
potential new competitors, may have longer operating histories in the Internet
market, greater name recognition, larger customer bases and databases and
significantly greater financial, technical and marketing resources. Such
competitors may be able to undertake more extensive marketing campaigns and make
more attractive offers to potential employees. Further, there can be no
assurance that our competitors will not develop services and products that are
equal or superior to our or that achieve greater market acceptance than our
offerings in the area of name recognition, performance, ease of use and
functionality. There can be no assurance that we will be able to compete
successfully against our current or future competitors or that competition will
not have a material adverse effect on our business, results of operations and
financial condition.


ITEM 2.           DESCRIPTION OF PROPERTY.

                  We presently occupy office space at 1880 Century Park East,
Suite 300, Los Angeles, CA 90067,  supplied by Ronald J. Stauber,  our attorney,
at no cost or  expense.  We will  occupy  this space  until such time as we have
completed  the  acquisition  of  International  Card  Establishment,   Inc.  and
GlobalTech Leasing, Inc. Upon closing, we will move our offices to 300 EsplanAde
Drive,  Suite  1950  Oxnard,  Ca  93030.  In  the  event  we do  not  close  the
acquisition, we will relocate to office space in Los Angeles, CA. Prior to March
31,  2003,  we occupied  office  space at 9171  Wilshire  Boulevard,  Suite 600,
Beverly Hills, CA 90067.


ITEM 3.           LEGAL PROCEEDINGS.

                  There is no litigation pending or threatened by or against the
Company.

                                      23.

<PAGE>

ITEM 4.           SUBMISSION OF MATTER TO VOTE OF SECURITY HOLDERS.

                  There have been no matters submitted to the Company's security
holders.



ITEM 5.           MARKET FOR COMMON COMPANY EQUITY AND RELATED STOCKHOLDER
                  MATTER.

         (a)      Market Price.

                  The Company's common stock is currently traded on the OTC
Bulletin Board System under the symbol "IEVT." The following table sets forth,
for the periods indicated, the high and low closing bid prices for the common
stock of the Company as reported on said system (or as may have been previously
reported on the Over the Counter Bulletin Board System). The bid prices reflect
inter-dealer quotations, do not include retail mark-ups, mark-downs or
commissions, and do not necessarily reflect actual transactions.

   Date              Open             High Bid          Low Bid          Close
   ___________________________________________________________________________
   10/25/00          3.20             3.20              3.16             3.20
   11/27/00          2.95             2.95              2.66             2.84
   12/26/00          1.53             1.55              1.34             1.45
   01/22/01          1.20             1.44              0.41             1.38
   02/26/01          1.20             1.30              1.22             1.25
   03/26/01          0.84             1.02              0.81             1.02
   04/23/01          1.01             1.07              0.80             1.01
   05/21/01          0.97             1.00              0.70             0.90
   06/25/01          0.85             0.85              0.65             0.85
   07/23/01          0.80             0.60              0.75             0.75
   08/27/01          0.55             0.75              0.51             0.70
   09/24/01          0.62             0.65              0.40             0.65
   10/22/01          0.75             0.79              0.68             0.79
   11/26/01          0.97             1.05              0.91             1.01
   12/24/01          1.10             1.10              1.10             1.10
   01/28/02          1.15             1.15              0.88             0.97
   02/25/02          0.66             0.80              0.66             0.80
   03/28/02          0.67             0.72              0.67             0.71
   04/30/02          0.31             0.33              0.31             0.33
   05/31/02          0.15             0.15              0.15             0.15
   06/25/02          0.08             0.08              0.07             0.08
   07/26/02          0.13             0.13              0.13             0.13


                                      24.

<PAGE>

   08/29/02          0.11             0.11              0.11             0.11
   09/30/02          0.11             0.11              0.11             0.11
   10/31/02          0.08             0.08              0.06             0.06
   11/27/02          0.09             0.09              0.09             0.09
   12/31/02          0.12             0.12              0.12             0.12
   01/31/03          0.17             0.18              0.17             0.18
   02/28/02          0.25             0.25              0.21             0.24
   03/31/03          0.26             0.27              0.25             0.27

                  On April 14, 2003, the ask for the common stock of the Company
was $0.25 and the bid for the common stock of the Company was $0.22. The last
trade on April 14, 2003 was at $0.25.

                  The Securities and Exchange Commission adopted Rule 15g-9,
which established the definition of a "penny stock," for purposes relevant to
the Company, as any equity security that has a market price of less than $5.00
per share or with an exercise price of less than $5.00 per share, subject to
certain exceptions. For any transaction involving a penny stock, unless exempt,
the rules require: (i) that a broker or dealer approve a person's account for
transactions in penny stocks; and (ii) the broker or dealer receive from the
investor a written agreement to the transaction, setting forth the identity and
quantity of the penny stock to be purchased. In order to approve a person's
account for transactions in penny stocks, the broker or dealer must (i) obtain
financial information and investment experience and objectives of the person;
and (ii) make a reasonable determination that the transactions in penny stocks
are suitable for that person and that person has sufficient knowledge and
experience in financial matters to be capable of evaluating the risks of
transactions in penny stocks. The broker or dealer must also deliver, prior to
any transaction in a penny stock, a disclosure schedule prepared by the
Commission relating to the penny stock market, which, in highlight form, (i)
sets forth the basis on which the broker or dealer made the suitability
determination; and (ii) that the broker or dealer received a signed, written
agreement from the investor prior to the transaction. Disclosure also has to be
made about the risks of investing in penny stock in both public offering and in
secondary trading, and about commissions payable to both the broker-dealer and
the registered representative, current quotations for the securities and the
rights and remedies available to an investor in cases of fraud in penny stock
transactions. Finally, monthly statements have to be sent disclosing recent
price information for the penny stock held in the account and information on the
limited market in penny stocks.

                                      25.
<PAGE>



                  For the initial listing in the NASDAQ SmallCap market, a
company must have net tangible assets of $4 million or market capitalization of
$50 million or a net income (in the latest fiscal year or two of the last fiscal
years) of $750,000, a public float of 1,000,000 shares with a market value of $5
million. The minimum bid price must be $4.00 and there must be 3 market makers.
In addition, there must be 300 shareholders holding 100 shares or more, and the
company must have an operating history of at least one year or a market
capitalization of $50 million.

                  For continued listing in the NASDAQ SmallCap market, a company
must have net tangible assets of $2 million or market capitalization of $35
million or a net income (in the latest fiscal year or two of the last fiscal
years) of $500,000, a public float of 500,000 shares with a market value of $1
million. The minimum bid price must be $1.00 and there must be 2 market makers.
In addition, there must be 300 shareholders holding 100 shares or more.

                  (b)  Holders.

                  There are thirty seven (37) holders of the Company's Common
Stock, including Cede & Co.

                  As of the date of this Form 10KSB, all of the issued and
outstanding shares of the Company's Common Stock held by non-affiliates are
eligible for sale under Rule 144 promulgated under the Securities Act of 1933,
as amended, subject to certain limitations included in said Rule. As of the date
hereof, 7,588,358 shares are deemed to be restricted shares. In general, under
Rule 144, a person (or persons whose shares are aggregated), has satisfied a one
year holding period, under certain circumstances, may sell within any
three-month period a number of shares which does not exceed the greater of one
percent of the then outstanding Common Stock or the average weekly trading
volume during the four calendar weeks prior to such sale. Rule 144 also permits,
under certain circumstances, the sale of shares without any quantity limitation
by a person who has satisfied a two-year holding period and who is not, and has
not been for the preceding three months, an affiliate of the Company.


         In summary, Rule 144 applies to affiliates (that is, control persons)
and nonaffiliates when they resell restricted securities (those purchased from
the issuer or an affiliate of the issuer in nonpublic transactions).
Nonaffiliates reselling restricted securities, as well as affiliates selling
restricted

                                      26.
<PAGE>

or nonrestricted securities, are not considered to be engaged in a distribution
and, therefore, are not deemed to be underwriters as defined in Section 2(11),
if six conditions are met:

                  (1)      Current public information must be available about
                           the issuer unless sales are limited to those made by
                           nonaffiliates after two years.

                  (2)      When restricted securities are sold, generally there
                           must be a one-year holding period.

                  (3)      When either restricted or nonrestricted securities
                           are sold by an affiliate after one year, there are
                           limitations on the amount of securities that may be
                           sold; when restricted securities are sold by
                           non-affiliates between the first and second years,
                           there are identical limitations; after two years,
                           there are no volume limitations for resales by
                           non-affiliates.

                  (4)      Except for sales of restricted securities made by
                           nonaffiliates after two years, all sales must be made
                           in brokers' transactions as defined in Section 4(4)
                           of the Securities Act of 1933, as amended, or a
                           transaction directly with a "market maker" as that
                           term is defined in Section 3(a)(38) of the 1934 Act.

                  (5)      Except for sales of restricted securities made by
                           nonaffiliates after two years, a notice of proposed
                           sale must be filed for all sales in excess of 500
                           shares or with an aggregate sales price in excess of
                           $10,000.

                  (6)      There must be a bona fide intention to sell within a
                           reasonable time after the filing of the notice
                           referred to in (5) above.


                                      27.

<PAGE>


Common Stock.

                  We are authorized to issue 100,000,000 shares of Common Stock
$.0005 par value and 10,000,000 shares of serial preferred stock at $.01 par
value. As of December 31, 2002, there were 11,260,500 common shares issued and
outstanding. All shares of Common Stock outstanding are validly issued, fully
paid and non-assessable.

Voting Rights.

                  Each share of common stock entitles the holder to one vote,
either in person or by proxy, at meetings of shareholders. The holders are not
permitted to vote their shares cumulatively. Accordingly, the holders of common
stock holding, in the aggregate, more than fifty percent of the total voting
rights can elect all of our directors and, in such event, the holders of the
remaining minority shares will not be able to elect any of such directors. The
vote of the holders of a majority of the issued and outstanding shares of Common
Stock entitled to vote thereon is sufficient to authorize, affirm, ratify or
consent to such act or action, except as otherwise provided by law.

Quasi-California Corporation.

                  Section 2115 of the California General Corporation law
provides that a corporation incorporated under the laws of a jurisdiction other
than California, but which has more than one-half of its "outstanding voting
securities" and which has a majority of its property, payroll and sales in
California, based on the factors used in determining its income allocable to
California on its franchise tax returns, may be required to provide cumulative
voting until such time as the Company has its shares listed on certain national
securities exchanges, or designated as a national market security on NASDAQ
(subject to certain limitations). Accordingly, holders of the our common stock
may be entitled to one vote for each share of common stock held and may have
cumulative voting rights in the election of directors. This means that holders
are entitled to one vote for each share of common stock held, multiplied by the
number of directors to be elected, and the holder may cast all such votes for a
single director, or may distribute them among any number of all of the directors
to be elected.

                  Our existing directors who are also shareholders, acting in
harmony, may be able to elect a majority of the members of our board of
directors even if Section 2115 is applicable.

                                      28.
<PAGE>


Dividend Policy.

                  All shares of Common Stock are entitled to participate
proportionally in dividends if our board of directors declares them out of the
funds legally available and subordinate to the rights, if any, of the holders of
outstanding shares of preferred stock. These dividends may be paid in cash,
property or additional shares of Common Stock. We have not paid any dividends
since our inception and presently anticipate that all earnings, if any, will be
retained for development of our business. Any future dividends will be at the
discretion of our board of directors and will depend upon, among other things,
our future earnings, operating and financial condition, capital requirements,
and other factors. Therefore, there can be no assurance that any dividends on
the common stock will be paid in the future.

Miscellaneous Rights and Provisions.

                  Holders of common stock have no preemptive or other
subscription rights, conversion rights, redemption or sinking fund provisions.
In the event of our dissolution, whether voluntary or involuntary, each share of
common stock is entitled to share proportionally in any assets available for
distribution to holders of our equity after satisfaction of all liabilities and
payment of the applicable liquidation preference of any outstanding shares of
preferred stock.


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

Plan of Operation.

                  The revenues in the twelve-months ending December 31, 2002
were $22,350 compared to revenues for the twelve months ending December 31,
2001 of $111,557.

                  During the twelve-month period ending December 31, 2002, we
incurred expenses of $252,918 compared to $530,951 for the twelve-months ending
December 31, 2001. These expenses primarily consisted of salary expenses,
software development, general operations and marketing expenses.

                  We continue to carefully control our expenses, and have
limited our debt outstanding as we move forward with the

                                      29.

<PAGE>

implementation of a business plan. We have two employees at the present time and
engage personnel through consulting agreements where necessary as well as
outside attorneys, accountants and technical consultants.

                  Our products currently include only the Enterprise Edition and
our "Premier" Online Services. We do, however, have several additional products
being developed. We have in developed an entry level online service, to be named
"Presto" for smaller events, mixers and consumer type activities and we intend
to market this product in the last quarter of 2003, subject to proper funding to
initiate the marketing. We are also planning to develop a mid-range product with
many of the features of our full version that will allow us to open additional
opportunities in our market. We are also planning the introduction of a
"vertical portal" designed specifically to support event producers who would
eventually use one of our products.

                  In March of 2000 and through the date hereof, the technology
industry, and specifically the Internet sector fell out of favor in the eyes of
investors. Over the following period ending December 31, 2003, we continued to
develop and market our product with limited successes despite the general
slowdown in the overall market. iNetEvents has provided services for the
following notable clients since the launch of the product in early 2000:

                  o        Bank of America
                  o        eBay
                  o        State of California
                  o        Meeting Professionals International
                  o        WholeLife Corporation
                  o        University of Washington
                  o        PrinTrak - A Motorola Company
                  o        American Electronics Association
                  o        Japan External Trade Organization
                  o        Los Angeles Regional Technology Alliance
                  o        Southern California Software Council
                  o        CalTech/MIT Enterprise Forum
                  o        Corporate University Exchange

                  After the September 11 terrorist attacks all business of ours
was either cancelled or postponed as we are directly tied to the corporate
travel market. With the instability of the Middle East and the ongoing threat of
terrorism, corporate travel

                                      30.
<PAGE>

has not yet recovered. After September 11, we took steps to lower our so called
"burn rate" even further to ensure that we could continue offering our services
when the market rebounded.

                  In addition to our existing business of offering Web-based
services to event producers, we our actively considering a mergers and
acquisitions strategy. We believe are uniquely postured to make high revenue
acquisitions to expand our market and enhance shareholder value.

Liquidity.

                  We have minimum liquidity and access to cash. In order to
continue operations, the Company must raise additional equity capital or use
debt instruments to continue operations. We are currently seeking to raise
equity capital to enhance our marketing and sales processes. We believe that our
investment in


                                      31.
<PAGE>



marketing and sales will directly influence our ability to become cash flow
positive in the last quarter of 2002.

                  We do not have sufficient cash to finance its operations at
this stage of its development and is seeking additional financing on acceptable
terms and conditions.

Capital Resources.

                  The Company is currently seeking to expand its hosting
capabilities and accordingly needs capital to complete this expansion.

                  The Corporation has to date, financed its development stage by
the sale of common stock and through long term debt.

                  At December 31, 2002, we had 11,260,500 shares outstanding and
as at December 31, 2002, we had 6,985,000 shares of Common Stock outstanding.
Cash on hand at December 31, 2001 and December 31, 2002 was approximately $744
and $63, respectively. The increase in the number of shares issued and
outstanding resulted from an issuance for cash or in cancellation of
indebtedness.

                  We recognize that we will continue to need additional cash
during the next twelve months and these needs will coincide with the cash
demands resulting from the general operations. There is no assurance that we
will be able to obtain additional capital as required, or obtain the capital on
terms and conditions acceptable to it.


ITEM 7.           FINANCIAL STATEMENTS.





                                 INETEVENTS,INC.

                         CONSOLIDATION FINANCIAL REPORT

                               DECEMBER 31, 2002





<PAGE>





                                INETEVENTS, INC.

                                    CONTENTS







INDEPENDENT AUDITOR'S REPORT ON THE
CONSOLIDATED FINANCIAL STATEMENTS                                           F-1
_______________________________________________________________________________

CONSOLIDATED FINANCIAL STATEMENTS

   Consolidated Balance Sheets                                              F-2

   Consolidated Statements of Income                                        F-3

   Consolidated Statements of Stockholders' Equity                          F-4

   Consolidated Statements of Cash Flows                                    F-5

   Notes to Consolidated Financial Statements                            F-6-13
_______________________________________________________________________________
















<PAGE>












                         INDEPENDENT ACCOUNTANT'S REPORT


To the Board of Directors
iNetEvents, Inc.


I have audited the accompanying  consolidated  balance sheet of iNetEvents,  Inc
and Subsidiary as of December 31, 2002 and the related  consolidated  statements
of  income,  stockholders'  equity  (deficit),  and cash flows for the year then
ended.  These  financial  statements  are the  responsibility  of the  Company's
management.  My  responsibility  is to express  an  opinion  on these  financial
statements  based  on  my  audit.  The  consolidated   financial  statements  of
iNetEvents,  Inc. and Subsidiary as of December 31, 2001 and 2000,  were audited
by other  auditors  whose report dated April 24, 2002,  expressed an unqualified
opinion on those statements.

I conducted my audit in accordance with generally  accepted auditing  standards.
Those standards  require that I plan and perform the audit to obtain  reasonable
assurance   about  whether  the  financial   statements  are  free  of  material
misstatement.  An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements.  An audit also includes
assessing the  accounting  principles  used and  significant  estimates  made by
management,  as well as evaluating the overall financial statement presentation.
I believe that my audit provides a reasonable basis for my opinion.

In my opinion,  the 2002  consolidated  financial  statements  referred to above
present fairly, in all material respects,  the financial position of iNetEvents,
Inc and Subsidiary as of December 31, 2002 and the results of its operations and
cash  flows  for the year  then  ended in  conformity  with  generally  accepted
accounting principles.

The  accompanying  financial  statements  have been  prepared  assuming that the
Company  will  continue  as a  going  concern.  As  discussed  in  Note 4 to the
financial  statements,  the Company  has no  operations  and has no  established
source of revenue.  This raises  substantial doubt about its ability to continue
as a going  concern.  Management's  plan in  regard  to  these  matters  is also
described in Note 4. The  financial  statements  do not include any  adjustments
that might result from the outcome of this uncertainty.



Kyle L. Tingle, CPA, LLC


April 13, 2003
Henderson, Nevada



<PAGE>


<TABLE>
<CAPTION>

                                INETEVENTS, INC.
                           CONSOLIDATED BALANCE SHEETS

                                                               December 31,         December 31,
                                                                   2002                 2001
                                                               ____________         ____________
<S>                                                            <C>                   <C>

                           ASSETS

CURRENT ASSETS
     Cash and cash equivalents                                 $       744           $      63
     Accounts receivable                                             3,000               1,982
     Deposits and other                                              4,080               2,090
                                                               ___________           _________

            Total current assets                               $     7,824           $   4,135
PROPERTY AND EQUIPMENT, NET                                    $    19,099           $  35,375

CAPITALIZED SOFTWARE DEVELOPMENT
     COSTS, NET                                                $    59,846           $  80,536
                                                               ___________           _________

                           Total assets                        $    86,769           $ 120,046
                                                               ===========           =========

            LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
     Bank overdraft                                            $         -           $   4,779
     Notes payable                                                       -              17,500
     Accounts payable and accrued expenses                          57,080              76,528
     Accrued interest expense                                        1,894              22,660
     Notes payable, stockholders                                    59,050             253,500
                                                               ___________           _________

            Total current liabilities                          $   112,029           $ 374,967

STOCKHOLDERS' EQUITY (DEFICIT)
     Common stock: $.0005 par value;
     authorized 100,000,000 shares;
     issued and outstanding
     6,986,500 shares at December 31, 2001;                                          $   3,493
     11,260,500 shares at December 31, 2002                    $     5,630
     Additional paid in capital                                  1,199,577             736,143
     Accumulated deficit                                        (1,239,462)           (994,557)
                                                               ___________           _________

            Total stockholders' equity (deficit)               $   (25,255)          $(254,921)
                                                               ___________           _________

                           Total liabilities and
                           stockholders' equity (deficit)      $    86,769           $ 120,046
                                                               ===========           =========


          See Accompanying Notes to Consolidated Financial Statements.

</TABLE>

                                       F-2

<PAGE>

<TABLE>
<CAPTION>

                                INETEVENTS, INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS





                                                   December 31,     December 31,      December 31,
                                                       2002             2001              2000
                                                   ____________     ____________      ____________
<S>                                                 <C>              <C>               <C>

Revenue
   Software hosting revenue                         $   14,600       $   84,250        $   86,927
   Consulting and registration revenue                   7,750           27,307                 0
                                                    __________       __________        __________

    Total Revenue                                   $   22,350       $  111,557        $   86,927

Operating, general and administrative expenses
   Selling, general and administrative              $  156,892       $  310,735        $  325,476
   Bad debt expense                                          0           58,148                 0
   Depreciation expense                                 16,500           18,731            11,871
   Amortization expense                                 68,690           85,122           106,416
   Investment banking expense                                0           55,254                 0
   Other expense                                           913            2,961             6,370
                                                    __________       __________        __________

       Operating, general and
         administrative expenses                    $  242,995       $  530,951        $  450,133
                                                    __________       __________        __________

             Operating (loss)                       $ (220,645)      $ (419,394)       $ (363,206)

Non-operating income (expense);
   Other income (expense)                           $  (15,260)      $  (17,927)       $   (3,500)
                                                    __________       __________        __________


             Net (loss) before income taxes         $ (235,905)      $ (437,321)       $ (366,706)

Federal and state income taxes                      $        0       $        0        $        0
                                                    __________       __________        __________

         Net (loss)                                 $ (235,905)      $ (196,261)       $ (191,287)
                                                    ==========       ==========        ==========


         Net (loss) per share                       $    (0.03)      $    (0.06)       $    (0.06)
                                                    ==========       ==========        ==========

         Average Number of Shares
         of Common Stock Outstanding                 9,161,815        6,873,062         6,223,300
                                                    ==========       ==========        ==========


         See Accompanying Notes to Consolidated Financial Statements.

</TABLE>

                                       F-3

<PAGE>

<TABLE>
<CAPTION>


                                INETEVENTS, INC.
                        Consolidated Statement of changes
                             in stockholders' equity


                                            Common Stock            Additional
                                       _______________________       Paid-In        Accumulated
                                        Shares          Amount       Capital         (Deficit)
                                       _________       _______      __________      ___________
<S>                                    <C>             <C>          <C>             <C>

Balance, December 31, 2000             6,784,000       $ 3,392      $  590,940      $  (557,236)

Sale of common stock                      97,500            48          84,952
Issuance of common stock for
    repayment of note payable              5,000             3           4,997
Exercise of options                      100,000            50
Issuance of warrants                                                    55,254
Net (loss), December 31, 2001                                                          (437,321)
                                       _________       _______      __________      ___________

Balance, December 31, 2001             6,986,500       $ 3,493      $  736,143         (994,557)

Sale of common stock                     200,000           100          19,900
Issuance of common stock for
    repayment of note payable and
    accrued interest                   3,474,000         1,737         383,834
Issuance of common stock for
    services rendered                    500,000           250          49,750
Sale of common stock                     100,000            50           9,950
Net (loss) December 31, 2002                                                           (235,905)
                                       _________       _______      __________      ___________

Balance, December 31, 2002             11,260,500      $ 5,630      $1,199,577      $(1,230,426)
                                       =========       =======      ==========      ===========



         See Accompanying Notes to Consolidated Financial Statements.

</TABLE>

                                       F-4

<PAGE>

<TABLE>
<CAPTION>


                                INETEVENTS, INC.
                      CONSOLIDATED Statements of Cash flows



                                                                               December 31,      December 31,     December 31,
                                                                                   2002              2001             2000
                                                                               ____________      ____________     ___________

<S>                                                                             <C>              <C>               <C>
Cash Flows From Operating Activities
Reconciliation of net loss to net cash (used in) operating activities
Net (loss)                                                                      $(235,905)        $(437,321)       $(366,706)
Adjustments to reconcile net (loss) to cash
     (used in) operating activities:
     Depreciation                                                                  16,500            18,731           11,871
     Amortization                                                                  68,690            85,122          106,416
     Bad debts                                                                          0            58,148                0
     Issuance of warrants for banking services                                          0            55,254                0
     Change in assets and liabilities
          (Increase) in accounts receivable                                        (1,018)          (47,587)         (12,543)
          (Increase) decrease in deposits and other                                (1,990)              624            2,376
          Increase in accounts payable and accrued expenses                        24,552            52,772           17,226
          Increase in accrued interest expense                                     17,405            17,810            4,850
                                                                                _________

       Net cash (used in) operating activities                                  $(111,766)        $ 196,447)       $(236,510)


Cash Flows From Investing Activities
       Net borrowings (payments to) related parties                             $       0         $       0        $       0
       Capitalized software development cost                                      (48,000)         (107,381)        (111,930)
       Purchase of equipment                                                         (224)                0           (6,542)
       Purchase of software                                                             0            (1,027)               0
                                                                                _________         _________        _________

       Net cash provided by (used in) investing activities                      $ (48,224)        $(108,408)       $(118,472)

Cash Flows From Financing Activities
       Bank overdraft, net                                                      $  (4,779)        $   4,779        $       0
       Proceeds from loans                                                        135,450           219,000           30,000
       Loan repayment                                                                   0            (8,000)               0
       Proceeds from issuance of common stock                                      30,000            85,000          316,564
       Proceeds from exercise of stock options                                          0                50                0
                                                                                _________         _________        _________

       Net cash provided by financing activities                                $ 160,671         $ 300,829        $ 346,564

       Net increase (decrease) in cash                                          $     681         $  (4,026)       $  (8,417)
       Cash and cash equivalents at beginning of period                                63             4,089           12,506
                                                                                _________         _________        _________

       Cash and cash equivalents at end of period                               $     744         $      63        $   4,089
                                                                                =========         =========        =========


Supplemental disclosure of cash flow information:
         Conversion of accounts payable for 450,000 shares common stock         $ 500,000         $  50,000        $       0
                                                                                =========         =========        =========
         Conversion of accrued interest for no shares common stock              $  38,171         $       0        $       0
                                                                                =========         =========        =========
         Conversion of note payable for 3,474,000and 50,000 shares
             common stock in 2002 and 2001                                      $ 347,400         $   5,000        $       0
                                                                                =========         =========        =========
         Issuance of warrants for investment banking services                   $       0         $  55,254        $       0
                                                                                =========         =========        =========



See Accompanying Notes to Consolidated Financial Statements.

</TABLE>
                                       F-5

<PAGE>


                                INETEVENTS, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                DECEMBER 31, 2002


Note 1.  NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES

NATURE OF BUSINESS:

iNetEvents,  Inc. and Subsidiary (the "Company") develops and maintains software
to be used for tradeshow and event  management  purposes.  The Company  provides
hosting  services to its customers via the internet.  The Company  charges a fee
for this service and also receives  income based on the number of  registrations
for the specific event. In addition, the Company may provide consulting services
to its customers.  The Company has not sold its software to its  customers,  but
may do so in the future.  Such a sale may  include  the sale of certain  support
services

iNetEvents,  Inc, (the "Company")  (formerly  Summit World  Ventures,  Inc.) was
incorporated  on  December  18,  1986 under the laws of the State of Delaware to
engage in any lawful corporate activity, including, but not limited to, selected
mergers  and  acquisitions.  Prior  to July 28,  2000,  the  Company  was in the
developmental  stage  and could be  defined  as a "shell"  company,  whose  sole
purpose  was to locate and  consummate  a merger or  acquisition  with a private
entity,  and it did not  have any  operations.  On July 28,  2000,  the  Company
acquired  iNetEvents,  Inc.,  a Nevada  corporation  ("iNetEvents  Nevada")  and
commenced operations.  iNetEvents Nevada, was incorporated in Nevada on February
3, 1999.

A SUMMARY OF THE COMPANY'S SIGNIFICANT ACCOUNTING POLICIES IS AS FOLLOWS:

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.

CASH

For the Statements of Cash Flows, all highly liquid investments with maturity of
three months or less are considered to be cash  equivalents.  There were no cash
equivalents as of December 31, 2002.

FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company's  financial  instruments  consist of accounts  receivable and loans
payable. The fair value of the Company's financial instruments  approximates the
carrying value of the instruments.

PROPERTY AND EQUIPMENT

Property and equipment are stated at cost.  Depreciation  is computed  using the
straight-line  method of depreciation over estimated useful lives ranging from 3
to 7 years.

SOFTWARE DEVELOPMENT COSTS

In March 1998, the American  Institute of Certified Public  Accountants  (AICPA)
issued  Statement  of  Position  98-1,  "Accounting  for the  Costs of  Computer
Software Developed or Obtained for Internal Use" ("SOP 98-1"). SOP 98-1 provides
guidance on accounting for the costs of computer software  developed or obtained
for internal use. This pronouncement  identifies the characteristics of internal
use software  and  provides  guidance on new cost  recognition  principles.  The
Company develops software to be used for tradeshow and event management

                                       F-6
<PAGE>


                                INETEVENTS, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                DECEMBER 31, 2002


NOTE 4.  NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

purposes.  Software costs associated with upgrades and enhancements that lead to
additional  functionality  of the software are  considered  in the  "application
development  stage." These costs are  capitalized  and amortized over a two-year
estimated  life.  Software  costs  associated  with  planning  of  new  software
("preliminary project stage" costs) and maintaining current software ("operation
stage" costs) are expensed as incurred.

REVENUE RECOGNITION

The  Company  recognizes  revenue  from  hosting  services  when a set-up fee is
charged to  customers  at the  initiation  of the  service.  Hosting  fees after
initiation  of the  service  are  recognized  on a monthly  basis  for  services
provided. Hosting service contracts have a short duration of a few months.

Revenue from registration is recognized as registrations occur.

Revenues from consulting services are recognized as services are provided.

ADVERTISING

Advertising  costs are charged to operations as incurred.  Advertising costs for
the years ended  December 31,  2002,  2001 and 2000 were  $3,500,  $13,690,  and
$55,538, respectively.

INCOME TAXES

Income  taxes are  provided  for using the  liability  method of  accounting  in
accordance with SFAS No. 109 "ACCOUNTING FOR INCOME TAXES." A deferred tax asset
or liability is recorded for all temporary differences between financial and tax
reporting.  Temporary  differences  are the  differences  between  the  reported
amounts of assets and liabilities  and their tax basis.  Deferred tax assets are
reduced by a valuation allowance when, in the opinion of management,  it is more
likely than not that some  portion or all of the deferred tax assets will not be
realized.  Deferred  tax assets and  liabilities  are adjusted for the effect of
changes in tax laws and rates on the date of enactment.

RECENT ACCOUNTING PRONOUNCEMENTS

In June 2001, SFAS No. 142,  "GOODWILL AND OTHER INTANGIBLE  ASSETS" was issued.
SFAS 142  requires,  among  other  things,  that  companies  no longer  amortize
goodwill,  but instead  test  goodwill  for  impairment  at least  annually.  In
addition,  SFAS 142 requires that the Company  identify  reporting units for the
purposes of assessing  potential  future  impairments of goodwill,  reassess the
useful  lives  of  other  existing  recognized   intangible  assets,  and  cease
amortization of intangible  assets with an indefinite useful life. An intangible
asset  with an  indefinite  useful  life  should be  tested  for  impairment  in
accordance  with the guidance in SFAS 142. SFAS 142 is required to be applied in
fiscal  years  beginning  after  December  15,  2001 to all  goodwill  and other
intangible assets recognized at that date,  regardless of when those assets were
initially  recognized.  SFAS 142 requires the Company to complete a transitional
goodwill  impairment test nine months from the date of adoption.  The Company is
also required to reassess the useful lives of other intangible assets within the
first interim quarter after adoption of SFAS 142.

The Company believes that SFAS 142 will have no impact on its financial position
and results of operations.

                                       F-7
<PAGE>


                                INETEVENTS, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                DECEMBER 31, 2002


NOTE 1.  NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

RECLASSIFICATIONS

Certain amounts in the 2001 and 2000 financial statements have been reclassified
to be consistent with the presentation used in 2002.

NOTE 2.  STOCKHOLDERS' EQUITY

COMMON STOCK

The authorized  common stock of the Company  consists of  100,000,000  shares of
common stock with par value of $0.0005 and 10,000,000 shares of serial preferred
stock.  The company had stock issued and  outstanding on December 31, 2002, 2001
and 2000 of  11,250,600,  6,986,500  and  6,784,000  shares,  respectively.  The
Company has not issued any preferred stock.

On July 28, 2000, the Company acquired  iNetEvents,  Inc., a Nevada  corporation
("iNetEvents   Nevada")  and  commenced   operations.   iNetEvents  Nevada,  was
incorporated  in Nevada on February 3, 1999.  The terms of the merger called for
the Company to issue  3,500,000  of its common stock in exchange for 100% of the
common shares of iNetEvents Nevada. As part of the reorganization in the form of
a reverse merger wherein  iNetEvents Nevada,  became the Company's  wholly-owned
subsidiary,  and as such, no goodwill was being recognized.  The Company changed
its name to iNetEvents,  Inc., changed its trading symbol from SWVT to IEVT, and
the management of iNetEvents Nevada became the management of the Company.

The  Company  sold and issued  500,000  shares of its common  stock at $.004 per
share in 1986 and received the total amount of $2,000.00.  In 1997,  the Company
had a 2-for-1 stock split and each  outstanding  share was split,  reconstituted
and converted  into two shares.  At that time,  the total  authorized  stock was
increased to 1,000,000 and the par value was changed to $.0005 per share.

On March 20, 2000,  the Company paid a two share for each one share  outstanding
dividend with the distribution  occurring on April 5, 2000. This resulted in the
3,000,000 shares outstanding prior to the reorganization  with iNetEvents Nevada
(3,500,000 shares were issued in exchange for the 3,390,000 shares of the Nevada
corporation).

For accounting  purposes,  the transaction has been treated as an acquisition of
the Company by iNetEvents Nevada and as a recapitalization of iNetEvents Nevada.
The historical financial statements prior to the reorganization  became those of
iNetEvents  Nevada even though they are labeled as those of the Company.  In the
recapitalization, the historical stockholders' equity of iNetEvents Nevada prior
to the merger is  retroactively  restated  for the  equivalent  number of shares
received in the merger with an offset to paid-in  capital.  Operations  prior to
the merger are those of  iNetEvents  Nevada.  Basic loss per share  prior to the
merger is restated to reflect the number of  equivalent  shares  received by the
shareholders of iNetEvents Nevada.

The consolidated  financial  statements  include the accounts of the Company and
its subsidiary. All significant intercompany transactions and accounts have been
eliminated.

                                       F-8

<PAGE>


                                INETEVENTS, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                DECEMBER 31, 2002


NOTE 5.  STOCKHOLDERS' EQUITY (CONTINUED)

During 2002 and 2001, the Company sold and issued the following shares of common
stock:

<TABLE>
<CAPTION>

                          2002                                    2001
          ____________________________________    ____________________________________

          Shares sold        Price       Total    Shares sold        Price       Total
           and issued    per share    Proceeds     and issued    per share    Proceeds
          ___________    _________    ________    ___________    _________    ________
<S>       <C>            <C>          <C>         <C>            <C>          <C>

            300,000        $ .10      $ 30,000
                                                    25,000         $ .50        12,500
                                                    72,500          1.00        72,500
          ___________                 ________    ___________                 ________
            300,000                   $ 30,000      97,500                    $ 85,000
          ===========                 ========    ===========                 ========

</TABLE>

On June 30, 2002,  the Company  entered into  agreements  to convert some of its
long-term  debts from  shareholders  and accounts  payable to a consultant  into
stock.  The  Company  issued  3,474,000  shares  valued  at $0.10  per  share to
shareholders for $347,400 in debt and 38,171 in accrued interest. The consultant
received 450,000 in lieu of accounts  payable of $45,000.  In 2001, 5,000 shares
were issued as  repayment  of $5,000 of a loan  payable and 100,000  shares were
issued in accordance with founders options exercised at $0.0005.

NET LOSS PER COMMON SHARE

Net loss per share is calculated in accordance with SFAS No. 128,  "EARNINGS PER
SHARE." The  weighted-average  number of common shares  outstanding  during each
period  is used to  compute  basic  loss per  share.  Diluted  loss per share is
computed  using the weighted  averaged  number of shares and dilutive  potential
common shares  outstanding.  Dilutive  potential  common  shares are  additional
common shares assumed to be exercised.

Basic  net loss per  common  share is based on the  weighted  average  number of
shares  of  common  stock   outstanding.   Weighted  average  number  of  shares
outstanding  for the years ended December 31, 2002, 2001 and 2000 was 9,161,815,
6,873,062,  and 6,223,300 respectively.  As of December 31, 2002, 2001, and 2000
the Company had no dilutive potential common shares.

NOTE 3.  BUSINESS CONCENTRATIONS

Substantially all of the Company's  communication  hardware and certain computer
hardware operations are located in the Company's leased facility in Los Angeles,
California.  There can be no assurance that a system failure would not adversely
affect the performance of the Company's services.

The  Company's  success  is highly  dependent  upon the  management  talent  and
experience of Brandon Stauber, the President and CEO of the Company. The loss of
Mr. Stauber could have a material adverse impact on the Company's business.

Two  customers  represented  approximately  85% and 81% of total revenue for the
year ended  December  31, 2002 and 2001  respectively.  The  Company  markets it
services nationwide, but has not yet developed a diversified customer base.

                                       F-9
<PAGE>


                                INETEVENTS, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                DECEMBER 31, 2002


Note 4.  PROPERTY AND EQUIPMENT

Property and equipment consist of the following at December 31, 2002 and 2001:

                                            2002             2001
                                        ________         ________

Furniture                               $  4,122         $  4,122
Software                                  16,263           16,263
Computers and equipment                   59,845           59,621
                                        ________         ________

                                          80,230           80,006
Less: accumulated depreciation            61,131           44,631
                                        ________         ________

                                        $ 19,099         $ 35,375
                                        ========         ========

Note 5.  CAPITALIZED SOFTWARE DEVELOPMENT COSTS

Capitalized  software development cost consists of the following at December 31,
2002 and 2001:

                                            2002             2001
                                        ________         ________

Cost                                    $341,832         $293,832
Less: accumulated amortization           281,986          213,296
                                        ________         ________

                                        $ 59,846         $ 80,536
                                        ========         ========

Note 6.  LOANS PAYABLE

<TABLE>
<CAPTION>

At December 31, 2002 and 2001, loans payable consists of the following:

                                                               2002             2001
                                                           ________         ________
<S>                                                        <C>              <C>

Loans payable to a stockholder, unsecured, payable
on demand at principal plus 10% interest per annum         $ 45,750         $151,000

Loans payable to a stockholder, unsecured, payable
on demand at principal plus 10% interest per annum            5,000           77,500

Loans payable to a stockholder, unsecured, payable
on demand at principal plus 10% interest per annum            8,300                0

Loans payable to a stockholder, secured by computer
equipment, payable on demand at principal plus
10% interest per annum                                            0           25,000

                                      F-10

<PAGE>


                                INETEVENTS, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                DECEMBER 31, 2002


Note 6.  LOANS PAYABLE (CONTINUED)

Loans payable to a nonstockholder, secured by
computer equipment, payable on demand at
principal plus 10% interest per annum                             0           17,500
                                                           ________         ________

Totals                                                     $ 59,050         $271,000
                                                           ========         ========

</TABLE>

Note 7.  INCOME TAXES

At December 31, 2002 and 2001,  the income tax effect of  temporary  differences
between financial and tax reporting gives rise to the deferred income tax assets
as follows:

                                                  2002             2001
                                              _________        _________

       Net operating loss carryforward        $ 230,000        $380,000
       Less: valuation allowance               (230,000)       (380,000)
                                              _________        ________
                                              $      0         $      0
                                              =========        =========


At December 31, 2002, the Company has federal net operating  loss  carryforwards
and  carrybacks  of  approximately  $1,190,000  that  expire  through  2022.  In
assessing the realizability of deferred tax assets, management considers whether
it is more likely than not that some  portion or all of the  deferred tax assets
will not be  realized.  The amount that the Company can utilize from its federal
and state net operating loss carryforwards will be subject to annual limitations
due to change of ownership.  The ultimate  realization of deferred tax assets is
dependent upon the generation of future taxable income. Management believes that
a valuation  allowance equal to deferred tax assets is necessary at December 31,
2002 and 2001.


Note 8.  WARRANTS AND OPTIONS

SFAS No. 123  establishes  a fair value  method of  accounting  for  stock-based
compensation  plans and for  transactions  in which an entity  acquires goods or
services from  nonemployees  in exchange for equity  instruments.  SFAS 123 also
encourages,  but does not  require  companies  to record  compensation  cost for
stock-based employee compensation. The Company has chosen to continue to account
for stock-based  compensation utilizing the intrinsic value method prescribed in
Accounting  Principles  Board  Opinion No. 25,  "Accounting  for Stock Issued to
Employees" with pro forma  disclosures of net income as if the fair value method
had been applied.  Accordingly,  compensation cost for stock options is measured
as the excess,  if any, of the fair market price of the  Company's  stock at the
date of grant over the amount an employee must pay to acquire the stock.


The Company had entered into an agreement with an investment  banker whereby the
investment banker will seek candidates for the Company to acquire or merge with.
The agreement  expired on December 2002.  The agreement  requires the Company to
issue  warrants to the  investment  banker for 5% of the  Company's  outstanding
common  stock  upon the  closing  of such a  transaction.  During the year ended
December 31,  2001,  the Company  issued  warrants to the  investment  banker to
purchase 204,645 shares of common stock as compensation  for services  rendered.
Those warrants were valued using the  Black-Sholes  pricing model at $0.27 each.
Accordingly, an expense was recorded for $55,254.

                                      F-11

<PAGE>


                                INETEVENTS, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                DECEMBER 31, 2002


Note 8.  WARRANTS AND OPTIONS (CONTINUED)

The  Company  had  warrants  outstanding  as of  December  31,  2002 and 2001 as
follows:

                                                          2002             2001
                                                      ________         ________

Number of warrants expiring July 31, 2006               68,215           68,215
Number of warrants expiring October 31, 2006           136,430          136,430
                                                      ________         ________

Totals                                                $204,645         $204,645
                                                      ========         ========

All of the  warrants  have an exercise  price of $0.65 per share and were issued
for consulting services.  The fair value of these warrants was $0.27 and a total
of $55,254 was expenses to consulting services in 2001.

As of December 31, 2002 there were no employee stock options outstanding and the
company does not have a formal option plan.

Note 9.  COMMITMENTS AND CONTINGENCIES

Operating  lease:  The Company  leases office space a  non-cancelable  operating
lease that expired April 2002.  The monthly lease expense  approximates  $2,600.
Total lease  expense for the years  ended  December  31,  2002,  2001,  and 2000
approximated $27,034,  $32,000, and $28,000 respectively.  The Company continued
the lease on a month-to-month basis after its expiration.

Note 10. SUBSEQUENT EVENTS

On  January  16,  2003,  the  Company  entered  into a "Plan  and  Agreement  of
Reorganization" ("Plan") with International Card Establishment ("ICE"), a Nevada
corporation.  The Company will acquire all outstanding  stock of ICE in exchange
for fourteen  millions  (14,000,000)  shares of stock of the Company.  It is the
intention  of the Company  and ICE that the  transaction  constitute  a tax-free
"reorganization" as defined in the Internal Revenue Code of 1986, as amended.

Note 11. GOING CONCERN

The Company's  financial  statements  are prepared in accordance  with generally
accepted accounting  principles applicable to a going concern. This contemplates
the  realization  of assets and the  liquidation  of  liabilities  in the normal
course of business.  Currently,  the Company does not have  significant  cash or
other  material  assets,  nor does it have  operations  or a source  of  revenue
sufficient  to cover its  operation  costs and allow it to  continue  as a going
concern.  It is the intent of the Company to seek additional  investment through
stock sales and the private placement  described in Note 3 to expand operations.
Until that time,  the  stockholders,  officers,  and directors have committed to
advancing the operating costs of the company.

                                      F-12
<PAGE>


                                INETEVENTS, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                DECEMBER 31, 2002


Note 11. GOING CONCERN (CONTINUED)


Significant  Operating  Losses:  The  Company  had  a  cumulative  net  loss  of
$1,230,462  from the date of inception  to December  31,  2002.  To conserve its
resources,  the  Company  has  significantly  reduced its staff to a minimum and
reduced capital  expenditures.  The Company anticipates that it will continue to
experience losses.

Significant Capital  Requirements:  The Company's capital requirements have been
and will continue to be significant.  At December 31, 2001, the Company had cash
and cash  equivalents  of $744 and negative  working  capital of  $104,200.  The
Company will need additional financing,  which the Company may raise through the
private  placement of its securities.  There can be no assurance that additional
financing will be available to the Company on acceptable terms, or at all.


                                      F-13


<PAGE>



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

                  On November 19, 2002, the accounting firm of Good Swartz Brown
& Berns, LLP resigned from our audit responsibilities. We have engaged Kyle L.
Tingle, certified public accountant, as the successor accountant for Registrant.

                  During our two most recent fiscal years and any subsequent
interim period prior to the resignation of Good Swartz

                                      32.
<PAGE>

Brown & Berns, LLP, we (or someone on our behalf) has not consulted with Kyle
L. Tingle, or any other auditor, regarding any accounting or audit concerns,
to include, but not by way of limitation, those stated in Item 304(a)(2) of
Regulation S-B.

                  During our two most recent fiscal years, we are not aware of
any disagreements with our former accountant, whether resolved or not resolved,
on any matter of accounting principals or practices, financial statement
disclosure, or auditing scope or procedure, which, if not resolved to said
accountant's satisfaction, would have caused it to make reference to the subject
matter of the disagreements(s) in connection with its report.

                   During the period covered by the most recent audit report and
for the prior periods covered by said report, we had recurring losses from
operations, a working capital deficit and an accumulated deficit which raised
and resulted in the former accountants qualifying its opinion to indicate that
this raised substantial doubt about our ability to continue as a going concern.
Our plans as to these matters were described in Note 1 to the financial
statements and the consolidated financial statements did not include any
adjustments that might result from the outcome of said uncertainty.

                  We have agreed to provide an amendment to a Form 8-K filed on
January 31, 2003 or the Form 8-K filed on December 19, 2002, to comply with Item
304(a)(1), including compliance with Item 304(a)(3), of Regulation S-K, Section
229.304(a)(10) and (a)(3) of said chapter, and the related instructions to Item
304, if required, to include a dated letter from the former accountants stating
whether they agree with the statements made in this Item 4 of the Form 8-K and
if not, stating the reasons why they do not agree.

                  We have no disagreements with our auditor regarding accounting
and financial disclosures.

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

                  The members of our board of directors serve until the next
annual meeting of the stockholders, or until their successors have been elected.
The officers serve at the pleasure

                                      33.
<PAGE>

of the board of directors. Prior to March 31, 2003, Rohit K. Shuka resigned from
our board of directors. We have three vacancies on our board of directors.
Information as to our directors and executive officers is as follows:

                  Name                    Age             Position
                  ______________________________________________________________

                  Brandon Stauber         31              President and Director

                  Robert Thompson         29              Secretary and Director


                  The principal occupation and business experience during the
last five years for each of our present directors and executive officers are as
follows:

                  BRANDON STAUBER

                  Brandon Stauber is the President and a Director. Mr. Stauber
                  is the founder, president and CEO of iNetEvents, Inc., prior
                  to founding iNetEvents, Mr. Stauber was the director of
                  marketing for Galatia, Inc., a Silicon Valley Internet
                  start-up that focused on the development of custom e-commerce
                  applications. Mr. Stauber has also served as vice president of
                  marketing of DirectNet (an Omnetrix Company), the third
                  provider of commercial Internet services in Los Angeles.
                  Before working at DirectNet, Mr. Stauber was the associate
                  director for the Los Angeles Regional Technology Alliance, a
                  not-for-profit organization that provided business and
                  entrepreneurial-consulting services to Los Angeles' high-tech
                  and Internet community. Mr. Stauber completed his graduate
                  studies at the University of Southern California, receiving
                  his Master of Public Policy with an emphasis in economic
                  decision making and international policy.

                  ROBERT THOMPSON

                  Robert Thompson is the Secretary and a Director.  Mr. Thompson
                  has spent the last five years as a computer-programming
                  consultant.  He specialized in the implementation of
                  enterprise resource planning (ERP) software and EDI systems.
                  Mr. Thompson brings a wide range of programming experience to
                  iNetEvents including Java, C++, SQL and other database
                  technologies.  Mr. Thompson is a graduate of the University
                  of North Texas.

                                      34.
<PAGE>


                  The officers and directors may be deemed parents and promoters
of the Company as the Securities Act of 1933 defines those terms, as amended.
All directors hold office until the next annual stockholders' meeting or until
their death, resignation, retirement, removal, disqualification, or until their
successors have been elected and qualified. Officers of the Company serve at the
will of the board of directors.

                  There are no agreements or understandings for any of our
officers or directors to resign at the request of another person and none of the
officers or directors are acting on behalf of or will act at the direction of
any other person.

                  We have checked the box provided on the cover page of this
Form to indicate that there is no disclosure in this form of reporting person
delinquencies in response to Item 405 of Regulation S-B.


ITEM 10.          EXECUTIVE COMPENSATION.

                  The following table sets forth compensation paid or awarded to
all officers and directors.

Name and
Principal Position                   Year                        Salary
______________________               ____                        __________

Brandon Stauber,                     2000                        $ 6,750.00
Director and President               2001                         26,629.13
                                     2002                         40,750.00

Robert Thompson,                     2000                        $32,961.49
Director and Secretary               2001                         52,433.27
                                     2002                         61,000.00

Rohit F. Shulka, Director            2000                             0
                                     2001                             0
                                     2002                             0


                  During 1999 and through December 31, 2000, Mr. Stauber was
also reimbursed approximately $13,185 for business expenses he incurred.

                                      35.

<PAGE>


                  During the last three years, none of our previously serving
officers and directors received any compensation for their services rendered.
During the same period, we did not accrue compensation for any such persons
pursuant to any agreement or otherwise.

                  No retirement, pension, profit sharing, stock option or
insurance programs or other similar programs have been adopted by the Company
for the benefit of its employees.


ITEM 11.          SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
                  MANAGEMENT.

                  (a)      Security Ownership of Certain Beneficial Owners.

                  The following table sets forth the security and beneficial
ownership for each class of our equity securities for any person who is known to
be the beneficial owner of more than five percent of the Company.

                  Name and                  Amount and
                  Address of                Nature of
                  Beneficial                Beneficial           Percent
Title of Class       Owner                    Owner              of Class
_________________________________________________________________________

Common          Brandon Stauber             1,680,000            15.00%
                500 S. Sepulveda Blvd.,
                Suite 311
                Los Angeles, CA 90049

Common          Ronald J. Stauber           2,141,928            19.00%
                1880 Century Park East
                Suite 300
                Los Angeles, CA 90067

Common          Robert Thompson               325,000             2.90%
                8882 Carson Street
                Culver City, CA  90232

                  The total of our outstanding Common Shares are held by 37
equity holders (including Cede & Co. - "street" held securities with
approximately 50 active certificates).

                  (b)      Security Ownership of Management.

                  The following table sets forth the ownership for each class of
our equity securities owned beneficially and of record by all directors and
officers of the Company.

                                      36.
<PAGE>

                  Name and                  Amount and
                  Address of                Nature of
                  Beneficial                Beneficial           Percent
Title of Class     Owner                     Owner               of Class
_________________________________________________________________________

Common          Brandon Stauber             1,680,000            15.0%
                500 South Sepulveda Blvd.,
                Suite 311
                Los Angeles, CA 90049

Common          Robert Thompson               325,000             2.9%
                8882 Carson Street
                Culver City, CA 90232

Common          Rohit K. Shukla                     -               -
                746 West Adams Boulevard
                Los Angeles, CA 90089

Common          All Officers and            2,025,000            17.9%
                Directors as a Group
                (Three [3] individuals)



                  Prior to March 31, 2003, Rohit K. Shukla resigned as a
director.


ITEM 12.          CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

                  Ronald J. Stauber, the father of Brandon Stauber, has lent us
funds in the sum of $156,000 as of December 31, 2002. In addition, Ronald J.
Stauber provides us the office space without cost. Further, on or about June 28,
2002, we sold and issued to Ronald J. Stauber 2,284,000 shares of Common Stock
for cash or in cancellation of indebtedness for the total sum of $228,400. Said
issuance was part of a total issuance of 3,774,000 shares of Common Stock to
four (4) purchasers. The price paid by all purchasers was above the then current
market price for the shares of Common Stock. All of said shares were issued in
reliance upon an exemption from registration afforded by Section 4(2) under the
Securities Act of 1933, as amended. Ronald J. Stauber currently owns a total of
2,141,928 shares of Common Stock.

                  Except as stated above, there have been no related party
transactions, or any other transactions or relationships required to be
disclosed pursuant to Item 404 of Regulation S-B.

                                      37.
<PAGE>


ITEM 13.          EXHIBITS AND REPORTS ON FORM 8-K.

                  The following report, with exhibit, on Form 8-K is
incorporated herein by reference.

                  1.  Form 8-K filed on January 31, 2003.

                  The following documents are filed as part of this report:

                  23.1  Consent of Kyle Tingle, CPA.
                  99.1  Certification of Brandon Stauber
                  99.2  Certification of Brandon Stauber

                                      38.


<PAGE>


                                   SIGNATURES

          Pursuant to the requirements of Section 12 of the Securities Exchange
Act of 1934, the Company has duly caused this registration statement to be
signed on its behalf by the undersigned, thereunto duly authorized.



Date: April 15, 2003                INETEVENTS, INC.


                                    By: /s/ BRANDON STAUBER
                                        ___________________
                                        Brandon Stauber
                                        President

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



Date: April 15, 2003                INETEVENTS, INC.


                                    By: /s/ BRANDON STAUBER
                                        ___________________
                                        Brandon Stauber
                                        President





                                      39.


<PAGE>


                                  CERTIFICATION

I, Brandon Stauber, as the Chief Executive Officer of INETEVENTS, INC., certify
that:

1.  I have reviewed this annual report on Form 10-KSB of INETEVENTS, 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 officer 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 we have:

         a) designed such disclosure controls and procedures to ensure that
         material information relating to the registrant, including its
         consolidated subsidiaries, is made known to us by others within those
         entities, particularly during the period in which this 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 officer 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 officer and I have indicated in this
annual report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.



Date:  April 15, 2003                                  /s/ BRANDON STAUBER
                                                       _________________________
                                                        Brandon Stauber
                                                        Chief Executive Officer
                                                        INETEVENTS, INC.

                                      -40-
<PAGE>

                                  CERTIFICATION

I, Brandon Stauber, as the Chief Financial Officer of INETEVENTS,  INC., certify
that:

1.  I have reviewed this annual report on Form 10-KSB of INETEVENTS, 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 officer 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 we have:

         a) designed such disclosure controls and procedures to ensure that
         material information relating to the registrant, including its
         consolidated subsidiaries, is made known to us by others within those
         entities, particularly during the period in which this 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 officer 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 officer and I have indicated in this
annual report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.



Date:  April 15, 2003                               /s/ BRANDON STAUBER
                                                    ___________________________
                                                        Brandon Stauber
                                                        Chief Financial Officer
                                                        INETEVENTS, INC.

                                      -41-