FORM 10-K-SB
 
 SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 
 [X] ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d)
 OF THE SECURITIES EXCHANGE ACT OF 1934
 
 Commission File Number: 000-28429
 
 For the Year ended 12/31/03
 
 GYK Ventures, Inc.
 
 formerly
 
 eWorld Travel Corp.
 
 
 
 Nevada 68-0423301
 (Jurisdiction of Incorporation) (I.R.S. Employer Identification No.)
 
 
 668 North Coast Highway #261, Laguna Beach CA 92651
 (Address of principal executive offices)      (Zip Code)
 
 Registrant's telephone number, including area code: (949) 487-7285
 
 
 Securities registered pursuant to Section 12(b) of the Act:  None
 
 Securities registered pursuant to Section 12(g) of the Act:  Common Stock
 
 Yes [X] No [ ] (Indicate by check mark whether the Registrant (1) has filed all report required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.)
 
 [ ] (Indicate by check mark whether if disclosure of delinquent filers ( ? 229.405) is not and will not to the best of Registrant's knowledge be contained herein, in definitive proxy or information statements incorporated herein by reference or any amendment hereto.)
 
 As of 12/31/03 shares outstanding of the Registrant's Common Stock was 44,751,685 .
 
 As of 12/31/03 the aggregate number of shares held by non-affiliates was approximately 2,729,860 shares, $109,194 , based on current low bid price of $0.04 . Bid prices for thinly traded issues may be unreliable and subject to considerable volitivity on very modest volume.
 
 
 
 Exhibit Index is found on page 10
 
 Page - 1
    
 INTRODUCTION
 
 PART I
 
 ITEM 1. Description of Business
 
 ITEM 2. Description of Property
 
 ITEM 3. Legal Proceedings
 
 ITEM 4. Submission of Matters to a Vote of Security Holders
 
 PART II
 
 ITEM 5. Market for Common Equity and Stockholder Matters
 (a) Market Information
 (b) Holders
  (c) Dividends
  (d) Sales of Unregistered Common Stock 2001
 
 ITEM 6. Management's Discussion and Analysis or Plan of Operation
 (a) Plan of Operation
 (b) Future Prospects
 (c) Discussion and Analysis of Financial Condition and Results of Operations
 
 ITEM 7. Financial Statements
 (a) Audit Committee
 (b) Financial Statements
 
 ITEM 8. Changes In and Disagreements With Accountants on Accounting and Financial Disclosure
 
 PART III
 
 ITEM 9. Directors and Executive Officers, Promoters and Control Persons
 
 ITEM 10. Executive Compensation
 
 ITEM 11. Security Ownership of Certain Beneficial Owners and Management
 
 ITEM 12. Controls and Procedures
 
 ITEM 13. Attachments, Financial Statements, Exhibits, and Reports on Form 8-K
 (b) Exhibits
 (c) Form 8-K Reports
 
 Page - 2 
 INTRODUCTION
 
 This Registrant Reporting Company has elected to refer to itself, whenever possible, by normal English pronouns, such as "We", "Us" and "Our".
 
 This Form 10-KSB contains forward-looking statements. Such statements include statements concerning plans, objectives, goals, strategies, future events, results or performances, and underlying assumptions that are not statements of historical fact. This document and any other written or oral statements made by us or on our behalf may include forward-looking statements which reflect our current views, with respect to future events or results and future financial performance. Certain words indicate forward-looking statements, words like "believe", "expect", "anticipate", "intends", "estimates", "forecast", "projects", and similar expressions.
 
 PART I
 
 
 ITEM 1. Description of Business.
 
 
 ( a ) Historical Information. eWorld Travel Corp. , was organized as a closely held Nevada Corporation, on December 9, 1998. On September 23, 2002, the Company filed its Definitive 14C Information Statement disclosing the name change from eWorld Travel, Inc. to GYK Ventures, Inc. The name change was do to conflict recently discovered with another, non-affiliated company.
 
 As detailed in our previous Annual Report, we had 24,780,536 shares issued and outstanding. As a carryover from our last previous stock split 149 shares were issued for rounding up fractional shares. during 2003, 29,000 affiliate shares were cancelled.
 
 On January 2003, we sold 20,000,000 new investment shares to Gabriel Sameniego, for cash, $2,000.00, pursuant to Section 4(2) of the Securities Act of 1933. By virtue of the amount of shares so issued, the investor became an affiliate of our Corporation.
 
 As result we had and have a total of 44,751,685 shares issued and outstanding.
 
 ( b ) The Business of Registrant and Its Subsidiaries.
 
 Our Plan of Operation is unchanged from our 2002 Annual Report.
 
 ( c ) Financing Plans. None. For more information, please see Item 6 of Part II, Management's Discussion and Analysis.
 
 ( d ) Planned Acquisitions . There are no planned acquisitions. We are continuously investigating means to enhance shareholder value. Synergistic acquisitions in the future are open to consideration.
 
 ( e ) Employees. We have a sole Officer/Director and no other employees at this time.
 
 
 ITEM 2. Description of Property.
 
 We have no property and enjoy the non-exclusive use of offices and telephone of our officers and consultant at the present time. We are billed for consulting services, which billing includes all such amenities provided.
 
 
 ITEM 3. Legal Proceedings.
 
 There are no legal proceedings pending, threatened or suspected, by or against our Corporation, as of the preparation of this Report.
 
 
 ITEM 4. Submission of Matters to a Vote of Security Holders.
 
 None.
 
 
 The Remainder of this Page is Intentionally left Blank
 
 Page - 3 
 PART II
 
 
 ITEM 5. Market for Common Equity and Stockholder Matters.
 
 ( a ) Market Information. The Common Stock of this Issuer is now quoted Over the Counter on the Bulletin Board ( ? OTCBB ? )(November 2000) and previously on the NQB "Pink Sheets". We have one class of securities, Common Voting Equity Shares ( ? Common Stock ? ). The Company's Securities may be quoted in the over-the-counter market, but there is a young, sporadic and potentially volatile trading market for them. Quotations for, and transactions in, the Securities are capable of rapid fluctuations, resulting from the influence of supply and demand on relatively thin volume. There may be buyers at a time when there are no sellers, and sellers when there are no buyers, resulting in significant variations of bid and ask quotations by market-making dealers, attempting to adjust changes in demand and supply. A young market is also particularly vulnerable to short selling, sell orders by persons owning no shares of stock, but intending to drive down the market price so as to purchase the shares to be delivered at a price below the price at which the shares were sold short. Based upon standard reporting sources, the following information is provided:
 
 period
high bid
low bid
volume4th 2000
0.56
0.25
85,0001st 2001
0.25
0.25
5,0002nd 2001
0.25
0.24
365,0003rd 2001
0.30
0.25
1,190,0004th 2001
2.38
0.20
800,0001st 2002
1.90
1.10
91,2702nd 2002
2.10
0.05
450,0003rd 2002
0.10
0.02
200,0004th 2002
1.00
0.02
1,000,0001st 2003
1.01
0.15
309,5202nd 2003
0.20
0.04
59,2003rd 2003
0.10
0.05
36,8404th 2003
0.11
0.04
870,360
 
 The foregoing price information is based upon inter-dealer prices without retail mark-up, mark-down or commissions and may not reflect actual transactions. The source of the information is Yahoo Finance.
 
 ( b ) Holders. Management calculates that the approximate number of shareholders of Record for the Company's Common Stock, as of December 31, 2003, was approximately 50.
 
 ( c ) Dividends. We have not paid any cash dividends on our Common Stock, and do not anticipate paying cash dividends on our Common Stock in the next year. We anticipate that any income generated in the foreseeable future will be retained for the development and expansion of our business. Future dividend policy is subject to the discretion of the Board of Directors and will depend upon a number of factors, including future earnings, debt service, capital requirements, business conditions, the financial condition of the Company and other factors that the Board of Directors may deem relevant.
 
 ( d ) Sales of Unregistered Common Stock 2001. In January 2003, we sold 20,000,000 new investment shares to Gabriel Sameniego, for cash, $2,000.000, pursuant to Section 4(2) of the 1933 Act.
 
 
 
 ITEM 6. Management's Discussion and Analysis or Plan of Operation.
 
 ( a ) Plan of Operation. Our Plan of Operation is unchanged from our 2002 Annual Report.
 
 Cash Requirements and of Need for additional funds: twelve months . We have no cash and certain minimal cash requirements for corporate maintenance, legal and professional and auditing expenses.Our cash requirements are unchanged from our previous Annual Report. We have no prospects for acquiring this minimal funding other than shareholder advances.
 
 Cautionary Statement: There can be no assurance that we will be successful in raising capital through private placements or otherwise. Even if we are successful in raising capital through the sources specified, there can be no assurances that any such financing would be available in a timely manner or on terms acceptable to us and our current shareholders. Additional equity financing could be dilutive to our then existing shareholders, and any debt financing could involve restrictive covenants with respect to future capital raising activities and other financial and operational matters.
 
 ( b ) Future Prospects-Dormant. We are presently inactive, and expect to remain so for the balance of 2003, or until clarity emerges in the financial and business marketplaces.
 
 ( c ) Discussion and Analysis of Financial Condition and Results of Operations. We have had no revenues for past fiscal years or any interim periods covered by this report, or to the actual date of this report, from inception. We have no cash or assets for the past two fiscal years. We have an accumulated deficit of $1,874,945.
 
 Our independent auditor has indicated the following material notes to our financial statements:
 
 (Note 2-Going Concern) The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company has had recurring operating losses and is dependent upon raising capital to continue operations. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. It is management's plan to find an operating company to merge with, thus creating necessary operating revenues.
 
 (Note 3-Development Stage Company) The Company is a development stage company as defined in Financial Accounting Standards Board Statement 7. It is concentrating substantially all of its efforts in raising capital and developing its business operations in order to generate operating revenues.
 
 (Note 4-Related Party Transactions) Please refer to Note 4 of our Audited Financial Statements for more complete information and details on this subject.
 
 Cautionary Statement Repeated: There can be no assurance that we will be successful in raising capital through private placements, business combinations or otherwise. Even if we are successful in raising capital through the sources specified, there can be no assurances that any such financing would be available in a timely manner or on terms acceptable to us and our current shareholders. Additional equity financing, merger or joint-venture could be dilutive to our then existing shareholders, and any debt financing could involve restrictive covenants with respect to future capital raising activities and other financial and operational matters. Even if we are successful in raising capital in a timely manner and on terms acceptable to us and our shareholders, there are innumerable risks of business failure that haunt the path to profitability. We may not prove competitive in our areas of focus. Funding may not prove adequate to see us through our development stage. We are virtually a start-up company with all of the risks which attend new ventures.
 
 
 ITEM 7. Financial Statements.
 
 
 ( a ) Audit Committee. The Audit Committee of this Corporation for this fiscal year consists of the our Board of Directors. Management is responsible for our internal controls and the financial reporting process. Our independent auditor is responsible for performing an independent audit of our financial statements in accordance with generally accepted accounting standards and to issue a report thereon. It is the responsibility of our Board of Directors to monitor and oversee these processes. In this context the Committee has met and held discussions with management and the independent accountants. Management recommended to the Committee that our financial statements were prepared in accordance with generally accepted accounting principles, and the Committee has reviewed and discussed the financial statements with Management and such independent accountants, matters required to be discussed by Statement on Auditing Standards No. 61 (Communication with Audit Committees). Our independent accountants also provided to the Committee the written disclosures required by Independence Board Standard No. 1 (Independent Discussions with Audit Committees), and the Committee discussed with the independent accountants that firm's independence.
 
 Based upon the Committee's discussions, and review, of the foregoing, the Committee recommended that our audited financial statements in our Annual Report on Form 10-KSB for the year ended December 31, 2002 be included and filed with the Securities and Exchange Commission.
 
 ( b ) Financial Statements. Audited Financial Statements for years ended December 31, 2003, 2002, and from inception, are provided as Exhibit AFK-03, attached hereto, filed herewith and incorporated herein by this reference as though fully set forth herein.
 
 
 ITEM 8. Changes In and Disagreements With Accountants on Accounting and Financial Disclosure.
 None.
 
 Page - 4
    
 PART III
 
 
 ITEM 9. Directors and Executive Officers, Promoters and Control Persons .
 
 The following persons are our Directors serve until their successors might be elected or appointed. The time of the next meeting of shareholders has not been determined.
 
 Current Sole Officer/Director
 
 J. Dan Sifford, Jr. , age 63, our Sole Officer/Director appointed August 2001, grew up in Coral Gables, Florida, where he attended Coral Gables High School and the University of Miami. After leaving the University of Miami, Mr. Sifford formed a wholesale consumer goods distribution company which operated throughout the southeastern United States and all of Latin America. In 1965, as an extension of the operations of the original company, he founded Indiasa Corporation (Indiasa), a Panamanian company which was involved in supply and financing arrangements with many of the Latin American Governments, in particular, their air forces and their national airlines. As customer requirements dictated, separate subsidiaries were established to handle specific activities. During each of the past five years he has served as President of Indiasa, which serves only as a holding company owning: 100% of Indiasa Aviation Corp. (a company which owns aircraft but has no operations); 100% of Overseas Aviation Corporation (a company which owns Air Carrier Certificates but has no operations); 50% of Robmar International, S.A. (a company operates a manufacturing plant in Argentina and Brazil, but in which Mr. Sifford holds no office). In addition to his general aviation experience, Mr. Sifford, an Airline Transport rated pilot, has twenty two years experience in the airline business, and is currently the President of Airline of the Virgin Islands, Ltd. a commuter passenger airline operating in the Caribbean, and has been our officer and director continuously during each of the past five years.
 
 Former Officer, resigned May, 2003.
 
 Gerald Yakimishyn, age 49, previous President, Founder and Director, Mr. Yakimishyn has a diverse background ranging from hands-on, in-the-field mineral exploration experience, to leadership in secondary-level industrial education. He was a Surrey School District administrator for 14 years, before his move into the private industry. Mr. Yakimishyn was instrumental in the management and capitalization of Pierce Mountain Resources, Carmelita Resources Limited and Meridian Mercantile, Inc. , a merchant banking organization; before joining Sino Pacific Development in 1996. He became CEO and President of Sino Pacific Development in 1997. He was an investor and Director of MarketCentral.Net , an emerging internet company, during its recent organization and launch, retiring November 17, 1999. Mr. Yakimishyn devotes only such time to our business as is necessary to perform his duties as an officer and director.
 
 Page - 5
    
 ITEM 10. Executive Compensation.
 
 Our Officers and Directors serve without a plan of compensation at this time. No plan of compensation has been adopted or is under consideration at this time. None of the Directors current or former receives, or has ever received, any salary from us in their capacities as such. No officers or directors are under an employment contract with us. We have no retirement, pension, profit sharing, or insurance or medical reimbursement plans. During 2001, we issued a total of 20,500,000 (now=) shares to our officer, Gerald Yakimishyn, for services value at $70,000.00, pursuant to Section 4(2) of the 1933 Securities Act.
 
 Summary Compensation Table. The disclosure of Executive compensation is now provided in the tabular form required by the Securities and Exchange Commission, pursuant to Regulation 228.402.
 
 Long Term CompensationAnnual Compensation
Awards
Payoutsa



Name
and
Principal
Position
b





Year
c





Salary
($)
d





Bonus
($)
e


Other
Annual
Compen-sation
($)
f


Restric-ted
Stock
Awards
($)
g
Securi-ties
Under-
lying
Options
SARs (#)
h




LTIP
Payouts
($)
i


All Other
Compen-sation
($)Gerald Yakimishyn,
President
2003
0
0
0
0
0
0
02002
0
0
0
0
0
0
02001
0
0
0
0
0
0
0J. Dan Sifford,Table ONTable OFF
Secretary-Treasurer
2002
0
0
0
0
0
0
02001
0
0
0
0
0
0
02001
0
0
0
70,000
0
0
0 
 
 The Remainder of this Page is Intentionally left Blank
 
 Page - 6 
 
 ITEM 11. Security Ownership of Certain Beneficial Owners and Management.
 
 To the best of our knowledge and belief the following disclosure presents the total beneficial security ownership of all Directors and Nominees, naming them, and by all Officers and Directors as a group, without naming them, of us, known to or discoverable by us. To the best of our knowledge and belief the following disclosure presents the total security ownership of all persons, entities and groups, known to or discoverable us, to be the beneficial owner or owners of more than five percent of any voting class of Registrant's stock. More than one person, entity or group could be beneficially interested in the same securities, so that the total of all percentages may accordingly exceed one hundred percent. Please refer to explanatory notes if any, for clarification or additional information.
 
 Name and Address of Officer/Director
Share
Ownership
%J. Dan Sifford
668 North Coast Highway #261
Laguna Beach CA 92651
22,050,000
49.27Officers and Directors as a Group
22,050,676
49.27Gabriel Sameniego
Ave Ricardo J. Alfaro
Sun Tower Mall 59
Panama City, Panama
20,000,000
44.69Other Affiliates
20,000,000
44.69All Affiliates
42,050,676
93.96Total Shares Issued and Outstanding
44,751,685
100.00Less All Affiliates
(42,050,676)
-93.96Indicated Non-Affiliate Ownership
2,729,860
6.10
 
 Change of Control. There are no arrangements known to us, including any pledge by any persons, of securities of this corporation, which may at a subsequent date result in a change of control of the Issuer.
 
 
 ITEM 12. Controls and Procedures.
 
 Evaluation of Disclosure Controls and Procedures. Based upon an evaluation under supervision and with the participation of our management, as of a date within 90 days of the filing date of this Annual Report on form 10-KSB, our principal executive officer and principal financial officer have concluded that our disclosure controls and procedures (as defined in Rules 13a-14(c) and 15d-14(c)) under the Securities Exchange Act of 1934, are effective to ensure that information required to be disclosed (in reports that we file or submit under that Exchange Act) is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms.
 
 Changes in Internal Accounting. There were no significant changes in our internal controls or other factors that could significantly affect these controls subsequent to the date of their evaluation. There wee no significant deficiencies or material weaknesses, and therefore there were no corrective actions taken. However, the design of any system of controls is based in part upon the assumptions about the likelihood of future events, and there is no certainty that any design will succeed in achieving its stated goal under all potential future considerations, regardless of how remote.
 Page - 7 
 
 ITEM 13. Attachments, Financial Statements, Exhibits, and Reports on Form 8-K.
 ( a ) Attachments.
 
 (31) Ceritification pursuant to 302 .
 
 (32) Ceritification pursuant to 1350 .
 
 (AC 99.1) Audit Committee Report
 
 (AFK-02) Audited Financial Statements for the years ended December 31, 2001, 2000 and from Inception.
 
 ( b ) Exhibits. Please see our Previous Annual Report on Form 10-KSB, for the year ended December 31, 2001, for Exhibits: (3.1) Articles of Incorporation ; (3.2) By-Laws , incorporated herein by this reference.
 
 ( c ) Form 8-K Reports. None.
 
 
 Signatures
 
 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 individual capacities and on the date indicated.
 
 GYK Ventures, Inc.
 
 Dated: March 30, 2004
 by
 /s/J. Dan Sifford
 J. Dan Sifford
secretary/director
 
 
 Page - 8
    
 Exhibit 31
 
 Section 302 Certification
 
 
 
 
 Page - 9
    CERTIFICATIONS PURSUANT TO SECTION 302
 
 I, J. Dan Sifford , certify that:
 
 1. I have reviewed this annual report on Form 10-KSB of GYK Ventures, Inc. ;
 
 2. Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report;
 
 3. Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this annual report;
 
 4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:
 
 a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared;
 
 b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this annual report (the "Evaluation Date"); and
 
 c) presented in this annual report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;
 
 5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions):
 
 a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and
 
 b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and
 
 6. The registrant's other certifying officers and I have indicated in this annual report whether there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
 
 Dated: March 30, 2004  by
 
 
 
 /s/ J. Dan Sifford
 J. Dan Sifford
 Officer/Director
 
 Page - 10
    
 
 
 Exhibit 32
 
 CERITIFICATION PURSUANT TO 18 USC SECTION 1350
 
 
 
 
 
   CERTIFICATION PURSUANT TO 18 U.S.C.
 SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE
 SARBANES-OXLEY ACT OF 2002
 
 CERTIFICATION OF CUSTODIAN
 
 In connection with the Annual Report of GYK Ventures, Inc. a Nevada corporation (the "Company"), on 10-KSB for the September 30, 2003 as filed with the Securities and Exchange Commission (the "Report"), I, J. Dan Sifford , Sole Officer Director of the Company, certify, pursuant to 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350), that to my knowledge:
 
 (1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
 
 (2) The information contained in the Report fairly presents, in all material  respects, the financial condition and results of operations of the Company.
 
 Dated: March 30, 2004  by
 
 
 
 /s/ J. Dan Sifford
 J. Dan Sifford
 Officer/Director
 
 
 Page - 11
    
 
 Attachment AC-99.1
 
 Audit Committe Report
 
 
 
 
 Page - 12
    GYK Ventures, Inc.
 668 North Coast Highway #261,
 Laguna Beach CA 92651
 Form Type: 10-KSB
 
 **AUDIT COMMITTEE REPORT**
 
 The Audit Committee of Turner Valley Oil and Gas, Inc., is composed of the Corporation's Board of Directors. The members of the Committee are Donald Jackson Wells and Joseph A. Kane. The Committee recommended, subject to stockholder ratification, the selection of the Corporation's independent accountants.
 
 Management is responsible for the Corporation's internal controls and the financial reporting process. The independent accountants are responsible for performing an independent audit of the Corporation's consolidated financial statements in accordance with the generally accepted auditing standards and to issue a report thereon. The Committee's responsibility is to monitor and oversee these processes.
 
 In this context, the Committee has met and held discussions with management and the independent accountants. Management represented to the Committee that the Corporation's financial statements were prepared in accordance with generally accepted accounting principles, and the Committee has reviewed and discussed the consolidated financial statements with management and the independent accountants. The Committee discussed with the independent accountants matters required to be discussed by the Statement on Auditing Standards No. 61.
 
 The Corporation's independent accountants also provided to the Committee the written disclosures required by Independence Standards Board Standard No. 1, and the Committee discussed with the independent accountant that firms independence.
 
 Based upon Committee's discussion with management and the independent accountants and the Committee's review of the representation of management and the report of the independent accountants to the Committee, the Committee recommended that the audited consolidated financial statements be included in the Corporation's Annual Report on Form 10-KSB for the year ended December 31, 2001 filed with the Securities and Exchange Commission.
 
 Dated: March 30, 2004
 by  /s/J. Dan Sifford
 J. Dan Sifford
 secretary/director
 Page - 13
 
  GYK Ventures, Inc.
        Page - 14 
 
 
 
 
 
 
 
 C O N T E N T S
 
 
 
 Independent Auditors Report
 
 Balance Sheets
 
 Statements of Operations
 
 Statements of Stockholders Equity
 
 Statements of Cash Flows
 
 Notes to the Financial Statements
    Page - 15 
   
 
 
 
 INDEPENDENT AUDITORS REPORT
 
 
 
   
    
  
  
 
    
 
 Page - 16
    GYK Ventures, Inc.
   Balance Sheets
 
 **December 31,**
****
****
**December 31,**
******Assets**
****
**2003**
****
****
**2002**Current assetsCash
$
-

$
-Total Current Assets

-


-Other AssetsInvestments-Available for Sale

-


-Total Other Assets

-


-Total Assets
$
-

$
-Liabilities and Stockholders EquityCurrent LiabilitiesAccounts payable

245


1,369Accounts payable - related party (Note 4)

71,661


7,500Notes payable - related party (Note 4)

160,154


160,154Total Current Liabilities

232,060


169,023Stockholders EquityCommon Stock, authorized100,000,000 shares of $.001 par value,issued and outstanding 44,751,685 and24,780,536 shares respectively

44,751


24,780Additional Paid in Capital

1,598,134


1,218,105Accumulated Comprehensive Income

-


-Deficit Accumulated During theDevelopment Stage

(1,874,945
)

(1,411,908
)Total Stockholders Equity

(232,060
)

(169,023
)Total Liabilities and Stockholders Equity
$
-

$
-
   
 
 
 Page - 17
  
 
 GYK Ventures, Inc.
   Statements of Operations
 
 From inception onFor the


For the


December 10, 1998Year Ended


Year Ended


throughDecember 31,


December 31,


December 31,2003


2002


2003Revenues:
$
-

$
-

$
-Expenses:General and administrative

463,037


749,558


1,872,086Total Expenses

463,037


749,558


1,872,086Net Operating Loss

(463,037
)

(749,558
)

(1,872,086
)Other Income (Expense)Loss on sale of securities

-


-


(12,108
)Gain on settlement of debt

-


-


9,249Total Other Income (Expense)

-


-


(2,859
)Net Loss
$
(463,037
)
$
(749,558
)
$
(1,874,945
)Net Loss Per Share
$
(0.01
)
$
(0.10
)
$
(0.18
)Weighted average shares outstanding

44,322,827


7,454,440


10,329,842
     Page - 18 
   GYK Ventures, Inc.
   Statement of Stockholders Equity
   DeficitAccumulatedAdditional


Accumulated


During theCommon Stock

paid-in


Comprehensive


DevelopmentShares


Amount


capital


Income/(Loss)


StageCommon stock, issued at inceptionfor cash at $100 per share


200

$
-

$
20,000

$
-

$
-Net loss for the period endedDecember 31, 1998


-


-


-


-


-Balance, December 31, 1998


200


-


20,000


-


-Common stock issued for cashat $251 per share


67


-


16,800


-


-Common stock issued for cashat $2,000 per share


1


-


2,000


-


-Net loss for the year endedDecember 31, 1999


-


-


-


-


(36,360
)Balance, December 31, 1999


268


-


38,800


-


(36,360
)Net change in unrealized gains/(Losses) on available for salesecurities


-


-


-


(12,185
)

-Net loss for the year endedDecember 31, 2000


-


-


-


-


(37,792
)Balance, December 31, 2000


268


-


38,800


(12,185
)

(74,152
)Common stock issued for servicesat $25 per share   3,000


3


74,997


-


-


-Common stock issued for services toa related-party at $10 per share


50,000


50


49,950


-


-Common stock issued for servicesat $20 per share


7,000


7


174,993


-


-Common stock issued for servicesat $20 per share


10,000


10


199,990


-


-Shares issued in round-up


3


-


-


-


-Common stock issued for services toa related-party at $0.01 per share


2,000,000


2,000


18,000


-


-Rounding of shares


99


-


-


-


-Forgiveness of debt


-


-


43,085


-


-
 
 
 Page - 19
  
 
 GYK Ventures, Inc.
     DeficitAccumulatedAdditional


Accumulated


During theCommon Stock

paid-in


Comprehensive


DevelopmentShares


Amount


capital


Income/(Loss)


StageNet change in unrealized gains/(Losses) on available for salesecurities


-


-


-


12,185


-Net loss for the year endedDecember 31, 2001


-


-


-


-


(588,198
)Balance, December 31, 2001


2,070,370

$
2,070

$
599,815

$
-

$
(662,350
)Shares returned to treasury


(5,000
)

(5
)

5


-


-Issuance of common stock for servicesat $0.25 per share


500,000


500


124,500


-


-Issuance of common stock for debtreduction at $0.20 per share


400,000


400


79,600


-


-Issuance of stock in round-up


15,166


15


(15
)

-


-Issuance of common stock for servicesat $0.02 per share


20,000,000


20,000


380,000


-


-Issuance of common stock for servicesat $0.02 per share


1,800,000


1,800


34,200


-


-Net loss for the year endedDecember 31, 2002


-


-


-


-


(749,558
)Balance, December 31, 2002


24,780,536

$
24,780

$
1,218,105

$
-

$
(1,411,908
)Issuance of common stock for servicesat $0.02 per share


20,000,000

$
20,000

$
380,000


-


-rounding due to stock split


149

$
-

$
-


-


-Cancellation of common shares


(29,000
)
$
( 29
)
$
29


-


-Net loss for the year endedDecember 31, 2003


-


-


-


-

$
(463,037
)Balance, December 31, 2003


44,751,685

$
44,751

$
1,598,134


-

$
(1,874,945
)
 
 
 
  
 
   
 Page - 20
   
 
 GYK Ventures, Inc.
   Statements of Cash Flows
 
 From inception onFor the


For the


December 10 1998Year ended


Year ended


throughDecember 31,


December 31,


December 31,2003


2002


2003Cash Flows form OperatingActivitiesNet loss

$
(463,037
)
$
(749,558
)
$
(1,874,945
)Adjustments to reconcilenet loss to net cashprovided by operations:Stock issued for services


400,000


561,000


1,481,000Loss on sale of securities


-


-


12,108Gain on settlement of notes receivable


-


-


(9,249
)Increase in accounts payable


1,124


(1,969
)

245Increase in accounts payables-relatedparty


64,161


30,367


151,661Net Cash (Used) Provided byOperating Activities


-


(160,160
)

(239,180
)Cash Flows from InvestingActivities:Proceeds on sale of securities


-


-


492Payment for notes receivable


-


-


(3,351
)Net Cash (Used) Provided byInvesting Activities


-


-


(2,859
)Cash Flows from FinancingActivities:Capital contribution


-


-


1,400Issued common stock for cash


-


-


37,800Proceeds from officer


-


160,154


201,839Proceeds from subscription receivable


-


-


1,000Net Cash (Used) Provided byFinancing Activities


-


160,154


242,039Net increase (decrease) in cash


-


(6
)

-Cash, beginning of period


-


6


-Cash, end of period

$
-

$
-

$
-
  
 Non-Cash Financing and Investing Transactions:
 In January 2000, a marketable security valued at $12,600 was received in exchange for a notes receivable of $3,351. The market value of the securities at December 31, 2000 is $415.
 
 In April 2001, the Company issued 3,000 shares of its common stock for services valued at $75,000.
 
 In May 2001, the Company issued 50,000 shares of its common stock to an officer of the Company for services valued at $50,000.
 
 Page - 21
  
 
 GYK Ventures, Inc.
 (formerly eWorld Travel Corp.)
 (a Development Stage Company)
 Statements of Cash Flows
 (CONTINUED)
 
 Non-Cash Financing and Investing Transactions (continued):
 
 
 In May 2001, the Company issued 7,000 shares of its common stock for services valued at $175,000.
 
 In July 2001, the Company issued 10,000 shares of its common stock for services valued at $200,000.
 
 In December 2001, the Company issued 2,000,000 shares of its common stock to an officer of the Company for services valued at $20,000.
 
  In December 2001, debt in the amount fo $41,685 was forgiven by officers of the Company.
 
 During January 2002, the Company issued 500,000 shares of previously authorized but unissued common stock for services rendered value at $125,000.
 
 During January 2002, the Company canceled 5,000 shares of common stock.
 
 During September 2002, the Company issued 400,000 shares of previously authorized but unissued common stock for reduction of debt valued at $80,000.
 
 During September 2002, the Company authorized a ten for one (10:1) reverse split of its common stock.
 
 In October 2002, the Company issued 21,800,000 shares of common stock at $0.02 per share for services revalued during the year at a total value of $436,000.
 
 In January 2003, the Company issued 20,000,000 shares of its common stock to an officer of the Company for services valued at $400,000.
 
 
 
  Page - 22 
   GYK Ventures, Inc.
 (formerly eWorld Travel Corp.)
 (a Development Stage Company)
 Notes to the Financial Statements
 December 31, 2003 and 2002
 
 NOTE 1 - Summary of Significant Accounting Policies
 
 a. Organization
 
 eWorld Travel Corp. (the Company) was incorporated on December 10, 1998 under the laws of the state of Nevada. The Company was organized to provide internet-based travel services. The Company has not yet secured operations and is in the development stage according to Financial Accounting Standards Board Statement No. 7.
 
 b. Accounting Method
 
 The Company recognizes income and expense on the accrual basis of accounting.
 
 c. Earnings (Loss) Per Share
 
 The computation of loss per share of common stock is based on the weighted average number of shares outstanding at the date of the financial statements.
 
 
 
 FromInception onDecember 10,For the Years Ended

1998 ThroughDecember 31,

December 31,2003


2002


2003Numerator - loss

$
(464,037
)
$
(749,558
)
$
(1,874,945
)Denominator - weighted averageof shares outstanding


44,322,827


7,454,440


10,329,842Loss per share

$
(0.01
)
$
(0.10
)
$
(0.18
)
  d. Cash and Cash Equivalents
 
 The Company considers all highly liquid investments with maturities of three months or less to be cash equivalents.
 
 e. Available for Sale Securities
 
 Management determines the appropriate classification of marketable equity security investments at the time of purchase and reevaluates such designation as of each balance sheet date. Unrestricted marketable equity securities have been classified as available for sale. Available for sale securities are carried at fair value, with unrealized gains and losses reported in accumulated comprehensive income. Realized gains and losses and declines in value judged to be other-than-temporary on available for sale securities are included in investment income. The cost of securities sold is based on the specific identification method. Interest and dividends on securities classified as available for sale are included in investment income.
 
 
 
 
 
 
 Page - 23
    GYK Ventures, Inc.
 (formerly eWorld Travel Corp.)
 (a Development Stage Company)
 Notes to the Financial Statements
 December 31, 2003 and 2002
 
 NOTE 1 - Summary of Significant Accounting Policies (Continued)
 
 f. Provision for Income Taxes
 
 No provision for income taxes has been recorded due to net operating loss carryforwards totaling approximately $1,874,945 that will be offset against future taxable income. These NOL carryforwards begin to expire in the year 2019. No tax benefit has been reported in the financial statements because the Company believes there is a 50% or greater chance the carryforward will expire unused.
 
 Deferred tax assets and the valuation account is as follows at December 31, 2003 and 2002.
  
 December 31,2003


2002Deferred tax asset:NOL carrryforward

$
637,481

$
480,049Valuation allowance


(637,481
)

(480,049
)Total

$
-

$
-
       
 NOTE 2 - Going Concern
  
 The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company has had recurring operating losses and is dependent upon financing to continue operations. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. It is managements plan to raise capital in order to define their business operations, thus creating necessary operating revenues.
 
 NOTE 3 - Development Stage Company
 
 The Company is a development stage company as defined in Financial Accounting Standards Board Statement No. 7. It is concentrating substantially all of its efforts in raising capital and defining its business operation in order to generate significant revenues.
 
 NOTE 4 - Related Party Transactions
  
 During 2000, an officer and shareholder loaned the Company $41,685. The note is non-interest bearing and payable upon demand.
  In May 2001, the Company issued 50,000 shares of its common stock to an officer of the Company for services valued at $50,000.
 
 In December 2001, the Company issued 2,000,000 shares of its common stock to an officer of the Company for services valued at $20,000.
 
 In December 2001, debt in the amount fo $41,685 was forgiven by officers of the Company.
 
 In October 2002, 20,000,000 shares were issued to an officer for services valued at $400,000.
  In January 2003, 20,000,000 shares were issued to an officer for services valued at $400,000.
 
 
 Page - 24
    GYK Ventures, Inc.
 (formerly eWorld Travel Corp.)
 Notes to the Financial Statements
 December 31, 2003 and 2002
 NOTE 5 -  Equity
 
 In April 2001, the Company authorized a 10 for 1 reverse split of its common stock. The financial statements have been retroactively restated to reflect the reverse split.
 
 In April 2001, the Company issued 3,000 shares of its common stock for services valued at $75,000.
 
 In May 2001, the Company issued 50,000 shares of its common stock to an officer of the Company for services valued at $50,000.
 
 In May 2001, the Company issued 7,000 shares of its common stock for services valued at $175,000.
 
 In July 2001, the Company issued 10,000 shares of its common stock for services valued at $200,000.
 
 In September 2001, the Company authorized a 100 for 1 reverse split of its common stock. The financial statements have been retroactively restated to reflect the reverse split.
 
 In December 2001, the Company issued 2,000,000 shares of its common stock to an officer of the Company for services valued at $20,000.
 
 In December 2001, debt in the amount of $41,685 was forgiven by officers of the Company.
 
 During January 2002, the Company issued 500,000 shares of previously authorized but unissued common stock for services rendered value at $125,000.
 
 During January 2002, the Company canceled 5,000 shares of common stock.
 
 During September 2002, the Company issued 400,000 shares of previously authorized but unissued common stock for reduction of debt valued at $80,000.
 
 During September 2002, the Company authorized a ten for one (10:1) reverse split of its common stock.
 
 In October 2002, the Company issued 21,800,000 shares of common stock at $0.02 per share for services rendered during the year at a total value of $436,000.
 
 In January 2003, the Company issued 20,000,000 shares of its common stock to an officer of the Company for services valued at $400,000.
  
 NOTE 6 -  Available for Sale Securities
 
 As of December 31, 2000, the estimated fair value of the securities was $415. The unrealized loss of $12,185 has been recognized as an accumulated comprehensive loss. During 2001, the investment was sold and the loss was recognized.
 
 
  Page - 25