U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-KSB


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


                   For the fiscal year ended December 31, 2004

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


                        Commission file number 333-67484


                     INTERNATIONAL BROADCASTING CORPORATION
                     --------------------------------------
                 (Name of Small Business Issuer in Its Charter)


                  Nevada                               91-2101440
                 -------                               ----------
     (State or Other Jurisdiction of                (I.R.S. Employer
     Incorporation or Organization)                Identification No.)


                5100 N. 27th Street, Suite A-2, Lincoln, NE 68521
               (Address of Principal Executive Offices)(Zip Code)


                                  (402)742-0493
                                  -------------
                (Issuer's Telephone Number, Including Area Code)


                  Securities registered under Section 12(b) of
                      The Securities Exchange Act of 1934:


    Title of Each Class        Name of Each Exchange on Which Registered
    -------------------        -----------------------------------------
           None                                  None


                  Securities registered under Section 12(g) of
                      The Securities Exchange Act of 1934:


                    COMMON STOCK, PAR VALUE $.0001 PER SHARE
                    ----------------------------------------
                                (Title of Class)


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

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

State registrant's revenues for the year ended December 31, 2004 $105,736.

State the aggregate market value of the voting stock held by non-affiliates of
the registrant on April 4 2005 computed by reference to the closing bid price
of International Broadcasting, Corporation on that date: $561,604

                      APPLICABLE ONLY TO CORPORATE ISSUERS

The number of shares outstanding of the registrant's Common Stock, par value
$.0001 per share (the Common Stock), as of April 4 2004 was 104,724,042

Transitional Small Business Disclosure Format (check one): Yes No X

                       DOCUMENTS INCORPORATED BY REFERENCE

If the following documents are incorporated by reference, briefly describe them
and identify the part of Form 10-KSB into which the document is incorporated:
(1) Any Annual Report to security holders; (2) Any proxy of information
statement; and (3) Any prospectus filed pursuant to rule 424(b) of the
Securities Act of 1933(Securities Act:). Not Applicable

<PAGE>

      International Broadcasting Corporation 2004 Form 10-KSB Annual Report

                                Table of Contents

              Part I                                                  Page

Item 1    Description of Business ..................................... 2

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

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

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

              Part II

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

Item 6    Management's Discussion and
          Analysis or Plan of Operation ............................... 5

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

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

Item 8a   Controls and Procedures ..................................... 8



              Part III



Item 9    Directors and Executive Officers of the registrant .......... 9



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



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



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



Item  13   Exhibits .................................................. 12



Item 14   Principal Accountant Fees and Services...................... 12



                                        1

<PAGE>

ITEM 1. DESCRIPTION OF BUSINESS

GENERAL

We are a developer of broadcasting, publishing and media related businesses and
ventures. The Company is essentially an online and offline content provider with
two divisions: IBC Radio Network and IBC News Network.

IBC Radio Network is a 24/7 radio service with a unique, all-talk format focused
on business, news, science and the paranormal. The network seeks to carry niche
programs not found anywhere else. Radio is an informative and entertaining
format that has the test of time behind it.

IBC News Network is an email-based premium service focused on providing
profitable short term Micro-Cap "stock tips and news" to paid subscribers. The
IBC News Network is a highly specialized news service that delivers business and
financial news and information focusing exclusively on publicly-traded companies
that fall into the Micro-Cap category (stocks under $5). These stocks are quoted
on the NASDAQ, NYSE, AMEX, OTCBB, and Pink Sheets. The goal is for the division
to earn a reputation as an authoritative, independent, and unbiased news and
information source on microcap stocks, free from any spin, slant or editorial
angle. The website is designed to become a viable destination that generates
revenue through subscriptions to the premium service. The concept is to create a
service similar to "Wall Street Journal," and "Investors Business Daily," but
focused on small publicly-traded companies that do not receive mainstream press
coverage from such prestigious major business media.


Our services

We provide a 24/7 radio service focused on niche content like business, news,
science and the paranormal. We broadcast via satellite 24/7, on AM radio
stations in select communities, and on a wireless network. We provide news and
information sourced from a wide array of sources including television, news
wires and the Internet, combined with original editorial commentary. We do have
some agreements with third party content providers upon customary terms and
conditions. We launched our web sites in December 2000. Since launching our
sites, we have developed an opt-in subscriber email list.

Our websites have Internet audio streams in multiple formats so our listeners
can access our radio shows via the web.

Our business content is narrow and focused, consisting of news and commentary
about micro-cap stocks (stocks priced below $5) and the affiliated companies.
The commentary includes a wide range of topics from interviews with CEOs at
micro-cap companies, to phone calls from listeners expressing their opinions
about micro cap stocks and companies. We have also provided commentary on some
of the abuses which can occur in micro-caps. Non-business content includes
"paranormal", exploring issues such as UFOs, hauntings, possessions, and other
"new-age" and "edge" content, and political talk.

Presently, our content is either aggregated from third party sources such as
news wires and the opinions of show hosts and listeners and is researched and
written by our management in conjunction with outside reporters.

As we continue to mature our business, over the next year it is our goal to
feature more original content on our radio shows and web sites. While much of
our content is free, we also provide paid premium services to a base of
subscribers.

On our websites we include a "Corporate Sponsor" advertising section. This
section includes brief summaries of companies, including a business description
and summary financial data, provided to us by the advertising company from
information contained in its current public filings. The information contained
in the Corporate Sponsor section will be clearly marked as advertising.

We supply our radio content to other web sites and radio stations. Presently,
our radio web site can be linked to approximately forty web sites, and we
provide this access without charge as we continue to implement our business
plan.

We currently deliver our services through three web sites: www.IBCRN.com,
www.IBCNN.com, and www.stockpickradio.com The web sites are hosted for us by
third party providers utilizing two web servers to provide redundancy against
hardware failures. We have not experienced any major system failures since the
launch of our web sites.

                                       2

<PAGE>

Our Business Model

Our radio service has grown over the past three years. We now broadcast 24/7 via
satellite. The radio-advertising model appears to be the most promising aspect
of the business.

The  purpose  of our web sites is to build  brand  awareness  through  increased
traffic and create a ready source of  potential  paid  subscribers  and users of
products and services.  Our long-term plan is to generate revenues from the sale
of advertising and subscriptions  for premium services.  We intend to supplement
these revenue streams with the sale of electronic products, as well as books and
software.


Although we are in still the early stages of our business plan, recent increases
in the number of advertisers leads us to believe that our target demographics
should enable us to build an expanding advertising business. We expect that as
we increase our the size of our audience, website traffic and expand our
distribution outlets for content, we should create opportunities both for
increased financial news related advertising as well as traditional advertising.

We intend to market our radio service and web sites to the general public
through content-sharing arrangements as well as through print, radio, television
and online advertisements. We intend to launch targeted direct mail advertising
campaigns in an effort to increase awareness among advertisers about our
services. As we finalize our advertising plan, we will seek to employ in-house
sales personnel to sell advertising. We also will use independent sales agents.

Intellectual property

We conduct our business under the trade names IBC Radio Network and IBC News
Network. We have not yet applied for a registered trademark. We presently intend
to apply for a registered trademark of the names IBC Radio Network and IBC News
Network. There can be no assurance, however, that we will be granted either
trademark.

We have obtained the right to the Internet address www.IBCradio.com,
www.IBCRN.com, www.IBCNN.com, and www.stockpickradio.com. As with phone numbers,
we do not have and cannot acquire any property rights in an Internet address. To
protect our rights to intellectual property, we rely on a combination of
trademark, copyright law, trade secret protection, and confidentiality
agreements, although we do not have confidentiality agreements signed in every
instance.

COMPETITION

We compete with a wide range of radio stations, radio networks, financial news
companies and news and information sites, including CNN, CNBC, Fox News, Clear
Channel, Premier Radio Network, Investor's Business Daily, Barron's, Bloomberg,
Dow Jones Newswire, PRNewswire, Reuters, TheStreet.com, Raging Bull.com, Yahoo!
Finance, Microsoft Investor, Motley Fool, and CBS MarketWatch.com. We also
compete with other web sites offering news and information on microcap stocks.
The vast majority of our competitors have more established brands, a longer
operating history and greater financial resources than we do. We believe our
market segment focus and the nature of our radio service and web site content
may provide us with a limited ability to compete. The barriers to entry into our
target market segment are limited and we expect increasing competition to
develop. These new competitors could be better capitalized than we are, which
could give them a significant advantage. There is the possibility that the
competitors could capture significant market share of our intended market. We
will also compete with a wide spectrum of other information media. Nearly all
publications and media seek to sell advertising space and airtime and much of
this effort is directly or indirectly competitive with our online content.

EMPLOYEES

As of December 31, 2004, we had three employees and 3 independent contractors.
We have no collective bargaining agreements with any unions and we believe that
our overall relations with our employees are excellent.

                                       3

<PAGE>

ITEM 2. DESCRIPTION OF PROPERTY

In August of 2004,  the  Company  secured  arrangements  enabling  it to operate
without any leases for  approximately  2,000  square feet of office  space.  The
Company currently believes this space is inadequate for our future growth and is
in negotiations to relocate.


ITEM 3. LEGAL PROCEEDINGS

None.


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

Not Applicable


                                     PART II


ITEM 5. MARKET FOR COMMON EQUITY AND RELATED SHAREHOLDERS MATTERS

The Company's Common Stock presently trades on the OTC Bulletin Board under the
symbol IBCS. There are approximately 500 record holders of common stock.

                                               High          Low

2003
First Quarter .................................$.03          $.01
Second Quarter.................................$.06          $.01
Third Quarter..................................$.03          $.01
Fourth Quarter.................................$.02          $.01

2004
First Quarter..................................$.05          $.01
Second Quarter ................................$.04          $.02
Third Quarter .................................$.03          $.01
Fourth Quarter ................................$.02          $.01

2005
First Quarter..................................$.02          $.01

DIVIDEND POLICY

No dividends have been paid on the shares of our common stock, and we do not
anticipate the payment of cash dividends in the foreseeable future. We
anticipate that, for the foreseeable future any profit we report will be devoted
to our future operations and that cash dividends would not be paid to our
shareholders.



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

The following discussion should be read together with the information contained
in the financial statements and related notes included elsewhere in this report.

CRITICAL ACCOUNTING POLICIES

Financial Reporting Release No. 60, which was released by the SEC, requires all
companies to include a discussion of critical accounting policies or methods
used in the preparation of financial statements. Note 2 to our financial
statements dated December 31, 2004 includes a summary of the significant
accounting policies and methods used in the preparation of our financial
statements. The following is a brief discussion of the more significant
accounting policies and methods used by us.

GENERAL. 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,
disclosure of contingent assets and liabilities and the reported amounts of
revenues and expenses. Actual results could differ from those estimates.

REVENUE RECOGNITION. Advertising and subscription revenues are recognized when
the services are completed.

                                       4

<PAGE>

Results of Operations

Advertising  and fee revenue  increased to $101,397 for the year ended  December
31,  2004 from  $79,477  for the year ended  December  31,  2003 an  increase of
$21,920. The increase was due to increased  advertising of $36,754.  There was a
decrease in On-Line  revenues of $14,834.  On-Line movie revenues have decreased
to $4,339 for the year ended  December  31,  2004 from $7,947 for the year ended
December 31, 2003 The Company no longer operates an online movie division.

General  and  administrative  costs  increased  to  $291,288  for the year ended
December 31, 2004 from $272,806 for the year ended December 31, 2003 an increase
of $18,482.  The increase was primarily due to a increase in office expenses and
professional fees. Included in general and administrative  costs are $177,000 of
accrued salary.

Consulting fees decreased for the year ended December 31, 2004 to $13,105,  from
$288,255 for year ended December 31, 2003.  The Company issued four  consultants
704,142  shares of common stock valued at $13,013 for  consulting  fees. For the
year ended December 31, 2003 the Company issued a consultant 9,270,000 shares of
common stock value at $270,710.

Depreciation expense for the year ended December 31, 2004 was $19,480 Compared
to $17,460 for the year ended December 31, 2003.

Liquidity and Capital Resources

Our working capital deficit at December 31, 2004 was $190,855.  Net cash used in
operations  for the year ended  December 31, 2004 was  $(5,597)  compared to net
cash used of $(15,382) for the year ended  December 31, 2003 a decrease of
$9,785. During the year ended  December 31, 2004 the Company  issued Common
Stock valued at $13,016 for consulting  fees.  Cash flows from  financing
activities for the year ended December 31, 2004 were $11,650,  an officer of the
Company paid bills on behalf of the  Company.  These  advances  are non interest
bearing and are payable upon demand.

Since inception, we have funded our operations through the private placement of
securities.

We have generated limited revenues from both premium services and advertising.
These revenues have been sporadic and unpredictable. However in 2004 our
activities have focused more upon the expansion of both advertising and our
radio service. Our Plan of operation includes continuing the development of our
premium subscriber services, the execution and development of our premium
subscribers services and adding radio stations and other distribution outlets.

We are unable to predict at this time the exact amount of additional working
capital we will require to fund the continued implementation of our business
plan, however, in order to provide any additional working capital which we may
require, we will be required to raise additional capital through the sale of
equity or debt securities. As described below, we currently have no commitments
to provide us with any additional working capital. If we do not have sufficient
working capital to implement our plan of operation described above, it is likely
that we will cease operations.

The Company will endeavor to develop successful broadcasting, publishing, media
and related businesses and ventures. The Company is essentially an online
web-based and offline content provider. The flagship division of IBC News
Network (fka OTCBB News Network) is focused on providing stock tips to paid
subscribers, market commentary and other information critical to micro-cap stock
investors. IBC News Network is a highly specialized news service that delivers
business and financial news and information focusing exclusively on
publicly-traded companies that fall into the micro-cap category. The goal is for
the division to earn a reputation as an authoritative, independent, and unbiased
news and information source on micro-cap stocks. The website is designed to
become a viable destination that generates revenue through subscriptions to the
premium service and advertising/sponsorship fees.

                                        5

<PAGE>

We are currently attempting to expand our IBC News Network division by providing
another paid premium service focused on coverage of companies listed on the
Australian Stock Exchange. This will facilitate traders in North America to
trade after hours on a foreign stock exchange. We have strategic alliances with
Australian companies: Strategic Process (Re) Engineering Pty Ltd, Sharetrends
Pty Ltd, and Patterson Ord Minnette, a licensed securities dealer and corporate
member of the Australian Stock Exchange. Our agreement with this broker provides
paid subscribers with an electronic platform to trade Australian stocks. We are
in the early stages of setting up and marketing these services and have no
significant results to date.

IBC Radio Network is a 24/7 satellite-distributed radio service with a unique,
all-talk format. One of the most popular shows is "STOCK TALK LIVE," a business
radio talk show focused exclusively on continuous coverage of micro-cap stocks
each and every stock market trading day. "STOCK TALK LIVE" is a major milestone
not only for International Broadcasting Corporation but also for the financial
media industry and business information consumers as a whole. There are other
weekly and even daily short-length radio shows about tiny companies and stocks,
but to the best of our knowledge, no one has ever done LIVE continuous coverage
of micro-cap stocks each and every trading day from opening bell to the close.
We believe STOCK TALK LIVE is the very first. Other shows include THE LOU
GENTILE SHOW, TALK SHOW AMERICA, DREAMLAND WITH WHITLEY STRIEBER, FEET TO THE
FIRE, THE BLACK NIGHT AND SQUIRE G SHOW, SOUND EXPLORER, JACK LANDMAN'S
CYBERCITY RADIO, and THE SPACE SHOW. We have exclusive rights to these shows.
Our audience is growing rapidly and we believe the radio service provides the
most promise of the two divisions.

We have begun to offer retail products like satellite equipment, radios, and
other products via direct marketing using shopping cart software on our
websites. These products have had limited sales to date. We have a strategic
alliance with a third party software developer to provide advanced trading
software to our listeners and subscribers. We are in the early stages of
marketing the service.

We are unable to predict at this time the exact amount of additional working
capital we will require to fund the continued implementation of our business
plan, however, in order to provide any additional working capital which we may
require, we will be required to raise additional capital through the sale of
equity or debt securities. As described below, we currently have no commitments
to provide us with any additional working capital. If we do not have sufficient
working capital to implement our plan of operation described above, it is likely
that we will cease operations.

In 2005 our primary focus will be on the radio service and paid premium
services.

The report of our independent registered Public Accounting Firm on our financial
statements as of December 31, 2004 contains an explanatory paragraph regarding
an uncertainty with respect to our ability to continue as a going concern. We
are not generating significant revenues and have an accumulated deficit of
($1,221,741). We anticipate that our use of cash will be substantial for the
foreseeable future. We expect that funding for these expenditures will be
available out of our future cash flow and issuance of equity and/or debt
securities during the next 12 months and thereafter. There can be no assurance
whether or not such financing will be available on terms satisfactory to
management. If we do not obtain additional financing, we will be unable to
continue to implement our business plan and may be required to cease operations.

                                       6

<PAGE>

ITEM 7. FINANCIAL STATEMENTS

See Index to Financial Statements for the financial statements included in Form
10-KSB


                        INTERNATIONAL BROADCASTING CORP.

                              FINANCIAL STATEMENTS


                                      INDEX



                                                             Page Number

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM           F-1

FINANCIAL STATEMENTS:

Balance Sheet at December 31, 2004                                F-2

Statement of Operations for the years ended
December 31, 2004 and 2003                                        F-3

Statement of Stockholders' Deficit for the years ended
December 31, 2004 and 2003                                        F-4

Statement of Cash Flows for the years ended
December 31, 2004 and 2003                                        F-5

Notes to Financial Statements                                 F-6 to F-10

                                        7
<PAGE>

             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM



Board of Directors and Stockholders
International Broadcasting Corporation

We have audited the accompanying balance sheet of International Broadcasting
Corporation as of December 31, 2004 and the related statements of operations,
stockholders' deficit and cash flows for the years ended December 31, 2004 and
2003. These financial statements are the responsibility of the Company's
management. Our responsibility is to express an opinion on these financial
statements based on our audits.

We conducted our audits in accordance with the auditing the standards of the
Public Company Accounting Oversight Board in the (United States). Those
standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material
misstatement. An audit includes examining on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, the
financial position of International Broadcasting Corporation as of December 31,
2004 the results of its operations and its cash flows for the years ended
December 31, 2004 and 2003, in conformity with accounting principles generally
accepted in the United States of America.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern. The Company has incurred operating
losses since inception of $1,221,741 and has negative working capital of
$190,855. These conditions raise substantial doubt about its ability to continue
as a going concern without the raising of additional debt and/or equity
financing to fund operations. Management is actively pursuing new debt and/or
equity financing and continually evaluating the Company's profitability, however
any results of their plans and actions cannot be assured. The financial
statements do not include any adjustments that might result from the outcome of
this uncertainty.





                                                    /s/Sherb & Co., LLP
                                                    ----------------------------
                                                    Sherb & Co., LLP
                                                    Certified Public Accountants



New York, New York
April 5, 2005

                                      F-2

<PAGE>

                        INTERNATIONAL BROADCASTING CORP.
                                 BALANCE SHEET
                                DECEMBER 31, 2004


Current assets:
 Cash                                                    $    7,065
 Marketable securities                                       93,440
 Prepaid expenses                                            19,338
                                                          ---------

     Total current assets                                   119,843

Property and equipment, net                                  24,340
                                                          ---------
                                                         $  144,183
                                                          =========


                      LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities:
 Accounts payable and accrued expenses                   $   73,733
 Accrued wages                                              177,000
 Deferred revenue                                            37,415
 Due to related party                                        22,550
                                                          ---------
     Total current liabilities                              310,698


Stockholders' deficit:
 Common stock, $.0001 par value; 200,000,000
  shares authorized, 104,724,042 issued and
  outstanding                                                10,472
 Preferred stock, $.0001 par value; 10,000,000
  shares authorized, 0 issued and outstanding                  -
 Additional paid-in capital                                 998,014
 Accumulated other comprehensive income                      46,740
 Accumulated deficit                                     (1,221,741)
                                                          ---------
     Total stockholders' deficit                           (166,515)
                                                          ---------
                                                         $  144,183
                                                          =========



                 See accompanying notes to financial statements

                                      F-2
<PAGE>
                        INTERNATIONAL BROADCASTING CORP.
                            STATEMENTS OF OPERATIONS


                                                   Years Ended December 31,
                                                      2004         2003
                                                   ----------    --------
Advertising and fee revenue                        $ 101,397   $  79,477
On-line movies                                         4,339       7,947
                                                    --------     --------
Total revenue                                        105,736      87,424
                                                    --------     --------

General and administrative                           291,288     272,806
Consulting fees                                       13,013     288,255
Depreciation and amortization                         19,480      17,460
                                                    --------     --------
Operating expenses                                   323,781     578,521
                                                    --------     --------
OPERATING LOSS                                      (218,045)   (491,097)

Other expenses:
Impairment of intangibles                               -         40,000
                                                    --------     --------
NET LOSS                                           $(218,045)  $(531,097)
                                                    ========    =========


NET LOSS PER COMMON SHARE -
 BASIC AND DILUTED ...........                     $   (0.00)  $   (0.01)
                                                    ========    =========
WEIGHTED AVERAGE COMMON SHARES
 OUTSTANDING                                      93,963,099   81,554,667
                                                  ==========   ==========



                 See accompanying notes to financial statements

                                      F-3
<PAGE>
                        INTERNATIONAL BROADCASTING CORP.
                  STATEMENT OF CHANGES IN STOCKHOLDERS' DEFICIT

<TABLE>
<CAPTION>


                                       Common Stock                         Accumulated
                                  --------------------        Additional      Other
                                  Number of                    Paid in     Comprehensive    Accumulated
                                    Shares      Amount         Capital        Income          Deficit         Total
                                  ----------    -------       -----------  -------------    ------------    ---------
<S>              <C> <C>          <C>         <C>            <C>           <C>            <C>              <C>
Balance December 31, 2002         79,149,900  $   7,915      $    385,717  $    (8,100)   $   (472,599)    $ (87,067)

Issuance of stock for
 consulting fees                   9,870,000        987           280,523         -               -          281,510

Comprehensive income
 Unrealized loss on marketable
  securities, net of tax                -          -                 -          (8,380)           -           (8,380)

 Net loss from operations               -          -                 -            -           (531,097)     (531,097)
                                                                                                            ---------
Total comprehensive income                                                                                  (539,477)
                                  -----------  --------       ------------  -----------     -----------     ----------
Balance December 31, 2003         89,019,900      8,902           666,240      (16,480)     (1,003,696)     (345,034)

Issuance of stock for
 consulting fees                     704,142         70            12,946         -               -           13,016

Issuance of common stock in
 lieu of accrued wage             15,000,000      1,500           318,828         -              -           320,328

Comprehensive income
Unrealized gain on marketable
 securities, net of tax                 -          -                 -          63,220           -            63,220

Net loss from operations                -          -                 -            -          (218,045)      (218,045)
                                                                                                            ---------
Total comprehensive income                                                                                  (154,825)
                                 -----------   --------       ------------  -----------     -----------     ----------
Balance December 31, 2004        104,724,042  $  10,472      $    998,014  $    46,740    $(1,221,741)     $(166,515)
                                 ===========   ========       ============  ===========    ============     ==========
</TABLE>
                 See accompanying notes to financial statements

                                      F-4
<PAGE>
                        INTERNATIONAL BROADCASTING CORP.
                            STATEMENTS OF CASH FLOWS


                                                   Years Ended December 31,
                                                      2004         2003
                                                   ----------    --------
NET LOSS                                          $ (218,045)  $(531,097)

Adjustments used to reconcile net loss
 to net cash used in operating activities:
 Depreciation and amortization                        19,480      34,474
 Common stock issued for services                     13,016     281,510
 Loss on sale of marketable securities                 8,026     144,231
 Marketable securities received for
  services provided                                  (33,766)    12,500
 Impairment of intangible                               -        40,000
 Decrease in accounts receivable                        -         3,000
 Increase in prepaid expenses                        (19,338)      -
 Increase in deferred revenue                         37,415       -
 Increase in accounts payable and
  accrued wages                                      187,615       -
                                                   ---------    -------
     CASH USED IN OPERATING ACTIVITIES                (5,597)   (15,382)


CASH FLOWS FROM FINANCING ACTIVITIES:
Loans from related party                              11,650     10,900
                                                   ---------    -------
    NET CASH PROVIDED BY FINANCING ACTIVITIES         11,650     10,900

NET INCREASE / (DECREASE) IN CASH                      6,053     (4,482)

CASH, beginning of year                                1,012      5,494
                                                   ---------    -------
CASH, end of year                                 $    7,065   $  1,012
                                                   =========    ========


Supplemental cash flow information:

 Unrealized gain (loss) on marketable
  securities                                      $   63,220   $ (8,380)
                                                   =========    ========
Common stock issued in lieu of accrued
 payroll                                          $  320,328   $    -
                                                   =========    ========


                 See accompanying notes to financial statements

                                      F-5

<PAGE>

                     INTERNATIONAL BROADCASTING CORPORATION
                          NOTES TO FINANCIAL STATEMENTS

1. BUSINESS

International Broadcasting Corporation, Inc. ("the Company") was incorporated in
Nevada on October 13, 2000. The Company is a web-based provider of original,
timely, comprehensive financial news commentary and information.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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

B. Property and equipment - Property and equipment are recorded at cost.
Expenditures for major additions and betterment's are capitalized. Maintenance
and repairs are charged to operations as incurred. Depreciation of property and
equipment is computed by the straight-line method over the assets estimated
useful lives, 5 years. Leasehold improvements are amortized over the lesser of
the lease term or the asset's useful lives. Upon sale or retirement of plant and
equipment, the related cost and accumulated depreciation are removed from the
accounts and any gain or loss is reflected in operations.

C. Fair value of financial instruments - The carrying amounts reported in the
balance sheet for cash, marketable securities, accounts payable and accrued
expenses approximate fair value based on the short-term maturity of these
instruments.

D. Income Taxes - The Company follows Statement of Financial Accounting
Standards No. 109 - Accounting for Income Taxes, which requires recognition of
deferred tax assets and liabilities for the expected future tax consequences of
events that have been included in the financial statements or tax returns. Under
this method, deferred tax assets and liabilities are based on the differences
between the financial statement and tax bases of assets and liabilities using
enacted tax rates in effect for the year in which the differences are expected
to reverse.

E. Recent Accounting Pronouncements
Statement of Financial Accounting Standards ("SFAS") No. 151, "Inventory Costs -
an amendment of ARB No. 43, Chapter 4"" SFAS No. 152, "Accounting for Real
Estate Time-Sharing Transactions - an amendment of FASB Statements No. 66 and
67," SFAS No. 153, "Exchanges of Non-monetary Assets - an amendment of APB
Opinion No. 29," and SFAS No. 123 (revised 2004), "Share-Based Payment," were
recently issued.  SFAS No. 151, 152, 153 and 123 (revised 2004) have no current
applicability to the Company and have no effect on the financial statements.

                                       F-6

<PAGE>

                     INTERNATIONAL BROADCASTING CORPORATION
                          NOTES TO FINANCIAL STATEMENTS



F. Revenue Recognition - Advertising and subscription revenues are recognized
when the services are completed.

G. Loss per Common Share - Net loss per common share is based on the weighted
average number of shares outstanding. Potential common shares includable in the
computation of fully diluted per share results are not presented in the
financial statements as their effect would be anti-dilutive.

H. Marketable Securities - Investments in marketable securities are categorized
as either trading, available-for-sale or held to maturity. As of December 31,
2004, the Company had only available-for-sale securities, which are stated at
fair value, with unrealized gains and losses reported in stockholders' deficit.

I. Basis of Presentation - The Company has incurred operating losses since
inception of $1,221,741 and has negative working capital of $190,855. These
conditions raise substantial doubt about its ability to continue as a going
concern without the raising of additional debt and/or equity financing to fund
operations. Management is actively pursuing new debt and/or equity financing and
continually evaluating the Company's profitability, however any results of their
plans and actions cannot be assured. The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.

J. Cash and cash equivalents - The Company considers all highly liquid temporary
cash investments with an original maturity of three months or less when
purchased, to be cash equivalents.

K. Impairment of long-lived assets - The Company evaluates the recoverability
and carrying value of its long-lived assets at each balance sheet date, based on
guidance issued in SFAS No. 144, "Accounting for the Impairment or Disposal of
Long-Lived Assets." Among other factors considered in such evaluation is the
historical and projected operating performance of business operations, the
operating environment and business strategy, competitive information and market
trends. For the year ended December 31, 2003 the Company recorded an impairment
of $40,000 for goodwill associated with its purchase of Cult Movies.com.

3. PROPERTY AND EQUIPMENT

At December 31, 2004, property and equipment consists of the following:

Furniture, fixtures and equipment       $      28,852
Automobiles                                    67,000
                                        --------------
                                               95,852
Less accumulated depreciation                 (71,512)
                                        --------------
                                        $      24,340
                                        ==============

Depreciation expense for the years ended December 31, 2004 and 2003 were
$19,480 and 19,474 respectively.

                                      F-7

<PAGE>

                     INTERNATIONAL BROADCASTING CORPORATION
                          NOTES TO FINANCIAL STATEMENTS


4. PREPAID EXPENSES

On November 22, 2004 the Company received prepaid advertising valued at $29,500
for advertising. In exchange the Company agreed to provide $29,500 of
advertising. The Company is amortizing the Prepaid amortizing over the useful
life which is 90 days. As of December 31, 2004 the Company recorded amortization
of $10,162. The Company is accounting for this transaction in accordance with
Emerging Issues Task Force No. 99-17. " Accounting for Advertising Barter
Transactions."

5. DUE TO RELATED PARTY

During the year ended December 31, 2004 Company's President and an Officer of
the Company advanced the Company $22,500 to cover certain expenses. This advance
is non-interest bearing and is payable upon demand.


6. STOCKHOLDERS' DEFICIT

The Board of directors is authorized, to issue up to an aggregate of 10,000,000
shares of preferred stock in one or more series. The directors may fix rights,
preferences and privileges of the shares of each series. No shares have been
issued as of December 31, 2004.

During the year ended December 31, 2004 the Company issued 704,142 shares of
common stock for services rendered. The value of these shares is $13,016 or
approximately $.018 per share which was the fair market value on the date of
issuance.

The Company issued a total of 15,000,000 shares of common stock valued at
$320,328 the fair market value on the date of issuance. The stock was issued to
its President, Vice President and Secretary in lieu if of $320,328 of accrued
salary.

During the year ended December 31, 2003 the Company issued 9,570,000 shares of
common stock pursuant to form S-8 to four consultants for services rendered. The
value of these shares is $275,210 or approximately $.03 per share which was the
fair market value on the date of issuance. The Company issued an additional
300,000 shares of common stock to two consultants valued at $6,300 or
approximately $.02 per share which was the fair market value on the date of
issuance.


7. STOCK OPTION PLAN

On August 8, 2001, the board of directors and the holders of a majority of the
outstanding shares of common stock adopted the 2001 stock option plan. 5,000,000
shares of common stock are reserved for issuance upon exercise of options
granted from time to time under the 2001 stock option plan.

Under the stock option plan the Company may grant incentive stock options to key
employees and employee directors, or grant non-qualified options to employees,
officers, directors and consultants. The 2001 stock option plan is currently
administered by the board of directors.

                                       F-8

<PAGE>

                     INTERNATIONAL BROADCASTING CORPORATION
                          NOTES TO FINANCIAL STATEMENTS


7. STOCK OPTION PLAN, continued

Subject to the provisions of the stock option plan, the board will determine who
shall receive options, the number of shares of common stock that may be
purchased under the options, the time and manner of exercise of options and
exercise prices. The term of options granted under the stock option plan may not
exceed ten years or five years for an incentive stock option granted to an
optionee owning more than 10% of the Company's voting stock. The exercise price
for incentive stock options will be equal to or greater than 100% of the fair
market value of the shares of the common stock at the time granted. However, the
incentive stock options granted to a 10% holder of the Company's voting stock
are exercisable at a price equal to or greater than 110% of the fair market
value of the common stock on the date of the grant.

The exercise price for non-qualified options will be set by the board in its
discretion. The exercise price may be payable in cash or, with the approval of
the board, by delivery of shares or by a combination of cash and shares. Shares
of common stock received upon exercise of options will be subject to
restrictions on sale or transfer. As of December 31, 2004 no options have been
granted under the 2001 stock option plan.

8. INCOME TAXES

The components of the Company's tax provision for the years ended December 31,
2004 and 2003 were as follows:

                                                Year Ended December 31, 2004
                                           -------------------------------------
                                               2004                   2003
                                           --------------         --------------
Current income tax expense                 $           -          $           -
Deferred income tax (benefit)                          -                      -
                                           --------------         --------------
                                           $           -          $           -
                                           ==============         ==============

Deferred income taxes reflect the net income tax effect of temporary differences
between the carrying amounts of the assets and liabilities for financial
reporting purposes and amounts used for income taxes. The Company's deferred
income tax assets and liabilities consist of the following:

<TABLE>
<CAPTION>

                                                              Year Ended December 31, 2004
                                                  ---------------------------------------------------
                                                           2004                        2003
                                                  -----------------------      ----------------------
<S>                                               <C>                          <C>
Net operating loss carryforwards                  $              100,000       $             199,000
Accrued Expenses                                                  98,000                      69,000
                                                  -----------------------      ----------------------
Gross deferred income tax assets                                 198,000                     268,000

Deferred income tax asset valuation
  allowance                                                     (198,000)                   (268,000)
                                                  -----------------------      ----------------------
Net deferred income tax assets                    $                    0       $                   -
                                                  =======================      ======================
</TABLE>


Net operating loss carryforwards totaled approximately $250,000 at December
31, 2004. The net operating loss carryforwards will begin to expire in the year
2021 if not utilized. After consideration of all the evidence, both positive and
negative, management has recorded a valuation allowance at December 31, 2004 and
2003, due to the uncertainty of realizing the deferred tax assets.

The reconciliation of the income tax computed at the U.S. Federal statutory rate
to income tax expense for the period ended December 31, 2004 and 2003:

<TABLE>
<CAPTION>

                                                              Year Ended December 31, 2004
                                                     -------------------------------------------------
                                                             2004                       2003
                                                     ----------------------     ----------------------
<S>                                   <C>            <C>                        <C>
Tax expense (benefit) at federal rate (34%)          $            (74,000)      $            (181,000)
Nondeductible expenses                                             15,000                     105,000
State Income Tax                                                  (11,000)                     (9,000)
Income Tax Benefit Not Utilized                                         -                      85,000
Change in valuation allowance                                      70,000                           -
                                                     ----------------------     ----------------------
Net income tax (benefit) allowance                   $                   -      $                   -
                                                     ======================     ======================
</TABLE>


In the event of a substantial change in ownership of the Company, utilization of
the Company's net operating loss carryforwards are limited in accordance with
Internal Revenue Code
Section 382.

                                      F-9

<PAGE>

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

None.

ITEM 8a.    CONTROLS AND PROCEDURES.

Our Chief Executive Officer and Chief Financial Officer (collectively, the
"Certifying Officers") are responsible for establishing and maintaining
disclosure controls and procedures for us. Based upon such officers' evaluation
of these controls and procedures as of a date within 90 days of the filing of
this Annual Report, and subject to the limitations noted hereinafter, the
Certifying Officers have concluded that our disclosure controls and procedures
are effective to ensure that information required to be disclosed by us in this
Annual Report is accumulated and communicated to management, including our
principal executive officers as appropriate, to allow timely decisions regarding
required disclosure.

The Certifying Officers have also indicated that there were no significant
changes in our internal controls or other factors that could significantly
affect such controls subsequent to the date of their evaluation, and there were
no corrective actions with regard to significant deficiencies and material
weaknesses.

Our management, including each of the Certifying Officers, does not expect that
our disclosure controls or our internal controls will prevent all error and
fraud. A control system, no matter how well conceived and operated, can provide
only reasonable, not absolute, assurance that the objectives of the control
system are met. In addition, the design of a control system must reflect the
fact that there are resource constraints, and the benefits of controls must be
considered relative to their costs. Because of the inherent limitations in all
control systems, no evaluation of controls can provide absolute assurance that
all control issues and instances of fraud, if any, within a company have been
detected. These inherent limitations include the realities that judgments in
decision-making can be faulty, and that breakdowns can occur because of simple
error or mistake. Additionally, controls can be circumvented by the individual
acts of some persons, by collusion of two or more people or by management
override of the control. The design of any systems of controls also is based in
part upon certain assumptions about the likelihood of future events, and their
can be no assurance that any design will succeed in achieving its stated goals
under all potential future conditions. Over time, control may become inadequate
because of changes in conditions, or the degree of compliance with the policies
or procedures may deteriorate. Because of these inherent limitations in a
cost-effective control system, misstatements due to error or fraud may occur and
not be detected



<PAGE>

                                    PART III

ITEM 9. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

The following table includes the names, positions held and ages of our executive
officers and directors. All directors serve for one year and until their
successors are elected and qualify. Directors do not presently receive
compensation for their services as directors. Officers are elected by the board
of directors and their terms of office are at the discretion of the board.

NAME                                AGE        POSITION
----                                ---        --------

Daryn P. Fleming                    40         President, CEO and Director

Darrell W. Nether                   47         Vice-President, COO and Director

Sandra S. Nether                    52         Secretary, Treasurer and Director



Daryn P. Fleming. Mr. Fleming has served as our president, CEO and a member of
our Board of Directors since founding the company in October 2000. Since 1996,
Mr. Fleming has served as President of Diversified Marketing Concepts, LLC.
Diversified Marketing Concepts, LLC, which has been inactive since May 2000,
began its operations as a web site design company and evolved into a public
relations company. Mr. Fleming graduated from Regent University, Virginia Beach,
Virginia with a Master of Arts in Communication and Broadcasting/Journalism and
received a Bachelors of Arts from Adams State College, Alamosa, Colorado.

Darrell W. Nether. Mr. Nether has served as our vice president, COO and a member
of our Board of Directors since October 2000. Since March 2000, Mr. Nether has
been a consultant for Diversified Marketing Concepts, LLC. From 1975 until
joining International Broadcasting, Mr. Nether was employed in the aviation
industry. Beginning with the U.S. Navy specializing in Aviation Structures and
with Tracor Aviation/Lucas Aviation for 14 years becoming a supervisor in 1985
overseeing a segment of the Boeing 707 Hush Kit program. Mr. Nether worked for
Santa Barbara Aerospace from June 1996 to March 1999 with responsibilities for
overall plant operations including the indirect supervision of over eighty
aviation maintenance personnel and as a sheet metal foreman for Garrett Aviation
Santa Barbara from March 1999 to March 2000.

Sandra S. Nether. Ms. Nether has been our secretary, treasurer and a member of
our Board of Directors since October 2000. From December 1998 to February 2000,
Ms. Nether was an administrative secretary for the Clark County Education
Association Welfare Benefit Trust, a Las Vegas, Nevada company which provided
teacher's benefit packages, and from April 1996 to April 1998, she was an
executive secretary for Visiting Nurse Service, Inc., a traveling nurse
business. Ms. Nether graduated Sawyer Business College, Ventura, CA. in 1980 as
a legal secretary. Her initial employment was in the legal field, but she has
worked in many diverse areas and locales in real estate development,
construction and most recently, health services.

Mr. Nether and Ms. Nether are brother and sister.

Employment agreements

We are not a party to any employment agreements.

Director compensation

Members of our board of directors do not receive compensation for serving in
such positions.


ITEM 10. EXECUTIVE COMPENSATION


<PAGE>

                           SUMMARY COMPENSATION TABLE

The following table sets forth information relating to all compensation awarded
to, earned by or paid by us during December 31, 2002, 2003 and 2004 to (i) our
president and CEO, and (ii) each of our executive officers who earned more than
$100,000:


<TABLE>
<CAPTION>

<S>                               <C>            <C>           <C>      <C>             <C>             <C>
                                 Fiscal
                                 Year                                  Other Annual     LTIP            All Other
 Name and Principal Position     Compensation    Salary       Bonus    Compensation     Options/ (#)     Payouts
 ----------------------------------------------------------------------------------------------------------------
 Daryn P. Fleming                 2004(1)               0       0           0             0       0        0
                                  2003(1)         $ 2,308       0           0             0       0        0
                                  2002(1)         $34,616       0           0             0       0        0

</TABLE>


(1) Mr. Fleming's annual salary is $80,000. The Company has been recording the
unpaid portion of his salary as accrued payroll.


                        OPTION GRANTS IN LAST FISCAL YEAR

The following table sets forth information concerning our grant of options to
purchase shares of our common stock during the period of October 13, 2000
(inception) through December 31, 2004 to (i) our president and CEO, and (ii)
each of our executive officers who earned more than $100,000 during this period.



                                        Percent of
                     Number of        Total Options/
                     Securities SARs     Granted
                     Underlying        To Employees    Exercise Or
                     Options/SARs       In Fiscal      Base Price     Expiration
      Name           Granted (#)          Year         ($/Sh)            Date
 -------------------------------------------------------------------------------
 Daryn P. Fleming,
 President, CEO
 and Director             -                 -              -              -


                          OPTION EXERCISES AND HOLDINGS

The following table contains information with respect to the exercise of options
to purchase shares of common stock during the year ended December 31, 2004 to
(i) our President and CEO and (ii) each of our executive officers who earned
more than $100,000 during this period.

Aggregated Option/SAR Exercises in Last Fiscal Year and Fiscal Year-End
Option/SAR Values

                                                 Number of
                                                Securities           Value of
                                                Underlying          Unexercised
                       Shares                  Unexercised         In-The-Money
                      Acquired                 Options/SARs        Options/SARs
                         On        Value       At FY-End (#)       At FY-End ($)
                      Exercise     Realized    Exercisable/        Exercisable/
      Name              (#)         ($)        Unexercisable       Unexercisable
 -------------------------------------------------------------------------------
 Daryn P. Fleming,
 President, CEO
 and Director            -            -                -                  -



<PAGE>

<TABLE>
<CAPTION>

              LONG-TERM INCENTIVE PLANS AWARDS IN LAST FISCAL YEAR
<S>                       <C>          <C>              <C>         <C>       <C>
                          Number       Performance      Estimated Future Payouts Under
                        of Shares       or Other         Non-Stock Price-Based Plans
                        Units or      Period Until      ------------------------------
                       Other Rights    Maturation       Threshold   Target    Maximum
      Name                (#)          or Payout         ($or #)    ($or #)   ($ or #)
 ---------------------------------------------------------------------------------------------------------
 Daryn P. Fleming,
 President, CEO
 and Director              -               -                -          -         -

</TABLE>

2001 Stock Option Plan

On August 8, 2001, the board of directors and the holders of a majority of our
outstanding shares of common stock adopted our 2001 stock option plan. We have
reserved 5,000,000 shares of common stock for issuance upon exercise of options
granted from time to time under the 2001 stock option plan. The 2001 stock
option plan is intended to assist us in securing and retaining key employees,
directors and consultants by allowing them to participate in our ownership and
growth through the grant of incentive and non-qualified options.

Under the stock option plan we may grant incentive stock options only to key
employees and employee directors, or we may grant non-qualified options to our
employees, officers, directors and consultants. The 2001 stock option plan is
currently administered by our board of directors.

Subject to the provisions of the stock option plan, the board will determine who
shall receive options, the number of shares of common stock that may be
purchased under the options, the time and manner of exercise of options and
exercise prices. The term of options granted under the stock option plan may not
exceed ten years or five years for an incentive stock option granted to an
optionee owning more than 10% of our voting stock. The exercise price for
incentive stock options will be equal to or greater than 100% of the fair market
value of the shares of the common stock at the time granted. However, the
incentive stock options granted to a 10% holder of our voting stock are
exercisable at a price equal to or greater than 110% of the fair market value of
the common stock on the date of the grant. The exercise price for non-qualified
options will be set by the board in its discretion. The exercise price may be
payable in cash or, with the approval of the board, by delivery of shares or by
a combination of cash and shares. Shares of common stock received upon exercise
of options will be subject to restrictions on sale or transfer. As of the date
of this prospectus, we have not granted any options under the 2001 stock option
plan.

Limitation on liability and indemnification matters

As authorized by the Nevada General Corporation Law, our articles of
incorporation provide that none of our directors shall be personally liable to
us or our shareholders for monetary damages for breach of fiduciary duty as a
director, except liability for:

o any breach of the director's duty of loyalty to our company or its
shareholders; o acts or omissions not in good faith or which involve intentional
misconduct or a knowing violation of law;
o unlawful payments of dividends or unlawful stock redemptions or repurchases;
and o any transaction from which the director derived an improper personal
benefit.

This provision limits our rights and the rights of our shareholders to recover
monetary damages against a director for breach of the fiduciary duty of care
except in the situations described above. This provision does not limit our
rights or the rights of any shareholder to seek injunctive relief or rescission
if a director breaches his duty of care. These provisions will not alter the
liability of directors under federal securities laws.

Our articles of incorporation further provide for the indemnification of any and
all persons who serve as our director, officer, employee or agent to the fullest
extent permitted under Nevada law.


<PAGE>

ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

At December 31, 2004 there were an aggregate of 104,724,042 shares of common
stock issued and outstanding. The following table sets forth, as of December 31,
2005, information known to us relating to the beneficial ownership of shares of
common stock by:

- each person who is the beneficial owner of more than 5% of the outstanding
  shares of common stock;

- each Director;

- each Executive Officer; and

- all Executive Officers and Directors as a group.

Unless otherwise indicated, the address of each beneficial owner in the table
set forth below is care of 5100 N. 27th Street, Suite #A-2, Lincoln, NE 68521.

We believe that all persons named in the table have sole voting and investment
power with respect to all shares of common stock beneficially owned by them.

Under securities laws, a person is considered to be the beneficial owner of
securities he owns and that can be acquired by him within 60 days from the date
of this prospectus upon the exercise of options, warrants, convertible
securities or other understandings. We determine a beneficial owner's percentage
ownership by assuming that options, warrants or convertible securities that are
held by him, but not those held by any other person and which are exercisable
within 60 days of the date of this prospectus, have been exercised or converted.


 Name and Address of           Amount and Nature of          Percentage
 Beneficial Owner              Beneficial Ownership           of Class
 -------------------           --------------------          ----------
 Daryn P. Fleming                       42,450,602                40.5%
 Darrell W. Nether                       5,714,862                 5.5%
 Sandra S. Nether                        7,723,602                 7.4%
                               --------------------          ----------
 All officers and directors
 as a group (three persons)             55,889,066                53.4%
                               ====================          ==========

ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

International Broadcasting was formed in October 2000 by Daryn Fleming, our
president and CEO. In March 2001 Mr. Fleming contributed certain fixed assets to
us valued at approximately $147,000 as an additional capital contribution. Mr.
Fleming had recently acquired the assets and we valued same at his historical
cost.


<PAGE>

ITEM 13. EXHIBITS

(a) Exhibits.

Exhibit No. Description of Document

 3.1  Articles of Incorporation of International Broadcasting Corporation (1)
 3.2  By-laws of International Broadcasting Corporation (1)
 4.1  Form of common stock certificate (1)
 4.2  Form of warrant (1)
 4.3  International Broadcasting Corporation 2001 Stock Option Plan (1)
 31.1 Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
 32.1 Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

(1) Incorporated by reference to the registration statement on Form SB-2, file
number 333-67484, as amended, as declared effective by the Securities and
Exchange Commission on October 30, 2001.



<PAGE>

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

During 2004 and 2003, the Company incurred the following fees for professional
services rendered by the principal accountant:


                                                2004                   2003
                                              -------                -------

Fees for audit services                      $ 16,000                $13,500

Tax fees                                        1,500                  1,500


The Board of Directors pre-approves all audit and non-audit services to be
performed by the Company's independent auditors.




<PAGE>

                                   SIGNATURES

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

                     INTERNATIONAL BROADCASTING CORPORATION



    Date: April 05, 2005                       By: /s/ Daryn P. Fleming
    --------------------                        ---------------------------
                                               Daryn P. Fleming, President