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**UNITED STATESSECURITIES AND EXCHANGE COMMISSION** Washington, D.C. 20549

FORM 10-KSB

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

For the fiscal year ended**December 31, 2003**
  Commission File Number**000-49891**

**THE ELECTRIC NETWORK.COM, INC.**
  (Exact name of registrant as specified in charter)

**Delaware**
      **33-0860242**(State or other jurisdiction of incorporation or organization)
      (I.R.S. Employer Identification No.)**Suite 1400-1500 West Georgia Street, Vancouver BC**
      **V6G 2Z6**(Address of principal executive offices)
      (Zip Code)


**(702) 948-5072** 
  (Registrant's Telephone Number, Including Area Code)

Securities registered under Section 12(b) of the Act:

|**Title of each class registered:** | **Name of each exchange on which registered:**
|----------------------------------- | ----------------------------------------------
|None                                | None                                          

Securities registered under Section 12(g) of the Act:

**Common Stock, Par Value $.001**
  (Title of Class)

Check whether the Issuer (1) filed all reports required to
  be filed by section 13 or 15 (d) of the Exchange Act during the past 12 months
  (or for a shorter period that the Issuer was required to file such reports),
  and (2) has been subject to such filing requirements for the past 90 days. (1)
  Yes    **x**    No** ̈**(2)
  Yes    **x**    No** ̈**

Check if there is no 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 the Issuers 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.** ̈**

The Issuer's revenues for its most recent fiscal year: Nil

As of March 31, 2004, the aggregate market value of the voting
  stock held by non-affiliates of the Issuer, computed by reference to the price
  at which the Issuers common equity was last sold, was $2,325,750 based upon
  the price of $0.25/per share.

As of March 31, 2004, the Company has 18,803,000 shares of
  common stock issued and outstanding.

Transitional Small Business Disclosure Format (Check One):
  
  Yes** ̈**     No   
  **x**

DOCUMENTS INCORPORATED BY REFERENCE

Certain exhibits required by Part III, Item 13 have been incorporated
  by reference from the Issuers previously filed 10-SB and SB-2 Registration
  Statements.

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TABLE OF CONTENTS

|         |              |                                                                                                                         | Page
|-------- | ------------ | ----------------------------------------------------------------------------------------------------------------------- | ----
|         |             
|Part I   | 1           
|         | Item 1.      | Description of Business                                                                                                 | 1   
|         | Item 2.      | Description of Property                                                                                                 | 11  
|         | Item 3.      | Legal Proceedings                                                                                                       | 11  
|         | Item 4.      | Submission of Matters to Vote of Securities Holders                                                                     | 11  
|         |              |                                                                                                                         |     
|Part II  | 11          
|         | Item 5.      | Market for Common Equity and Related Stockholder Matter                                                                 | 11  
|         | Item 6.      | Managements Discussion and Analysis or Plan of
      Operation                                                         | 12  
|         | Item 7.      | Financial Statements                                                                                                    | 15  
|         | Item 8.      | Changes in and Disagreements with Accountants on Accounting
      and Financial Disclosure                              | 17  
|         | Item 8A.     | Controls and Procedures                                                                                                 | 17  
|         |              |                                                                                                                         |     
|Part III | 17          
|         | Item 9.      | Directors, Executive Officers, Promoters, and Control
      Persons, Compliance with Section 16 (a) of the Exchange Act | 17  
|         | Item 10.     | Executive Compensation                                                                                                  | 18  
|         | Item 11.     | Security Ownership of Certain Beneficial Owners and
      Management and Related Stockholder Matters                    | 20  
|         | Item 12.     | Certain Relationships and Related Transactions                                                                          | 20  
|         |              |                                                                                                                         |     
|Part IV  | 21          
|         | Item 13.     | Exhibits                                                                                                                | 21  
|         | Item 14.     | Principal Accountant Fees and Services                                                                                  | 22  
|         |              |                                                                                                                         |     
|         | Signatures   | 23                                                                                                                     
|         |              |                                                                                                                         |     
|         | Certificates |                                                                                                                        

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PART I

ITEM 1. DESCRIPTION OF BUSINESS

Our Background.We were incorporated in Nevada on February 3, 1999. Effective March 31, 2004 we changed our state of domicile to Delaware. Our change of domicile was effected through the merger of The Electric

Network.com, Inc., a Nevada corporation with and into The Electric Network.com, Inc., a Delaware corporation, which was a wholly-owned subsidiary of the Nevada corporation. As a result of the reincorporation, the Delaware corporation was the
surviving and resulting company.

Our Business.We are a development stage business that has not yet commenced operations. Our business plan was formed in Vancouver and continues to be based in Vancouver. The website operations will be hosted from a Vancouver location using
Vancouver service providers. Our main asset is our business plan, which was developed in Vancouver. Revenue, when generated, will be received in Vancouver. For these reasons, we use a local audit firm, Manning Elliott, as our auditors.

We hope to be in the business of serving as an Internet marketplace where consumers and entrepreneurs can meet to buy, sell or exchange goods and services, or almost anything with a perceived value that can be sold over the internet. While we
eventually hope to develop an Internet auction marketplace that is global in scope, we plan to launch our business operations on a much smaller level.

Focusing on one location will allow us to grow our business at a steady rate so that we can cater to our users needs and make sure they are satisfied with our service. Our intention is to ensure that the auction process is a positive experience for
both buyer and seller by offering a local auction. Since our users are from the same area we believe they will have a more direct line of communication and that is will help create a greater sense of confidence. With a greater sense of confidence we
anticipate that this will lead to an overall increase in transactions.

Our proposed website will be developed, operated and maintained in Vancouver, British Columbia. We intend to operate a search and find based website designed to link parties offering items or services for sale or seeking items or
services for purchase. We intend to distinguish our website from online auction sites such as eBay or uBid.com by not relying solely on the exchange of goods. Instead, we intend to facilitate the online sale in an auction-style format of anything
with a perceived value, whether it is goods, services or intangible items. Examples of intangible items include things such as domain names, copyrights or timeshare swaps. Initially, we hope to cater to the broad market consisting of individuals or
businesses in the Greater Vancouver area with a computer and Internet access and a need to buy or sell products or services.

We are currently configuring our auction software which we purchased from PHP Auction found at http://www.phpauction.orgPHP Auction provides off-the-shelf software that is intended for use on servers which run Linux or Unix. We chose the PHP
software because we are currently running Linux on our server and we believe that this is the most cost effective way to launch our services with our current budget. The cost savings in buying an off-the-shelf product will allow us to allocate most
of our budget to advertising and marketing. We believe that once we customize this software we will be able to offer our users a comparable online auction to that of Ebay and Ubid.

We expect to have our auction software configured within the next 30 to 90 days and that we will begin our soft-launch within this period. Once configured our website will enable users to browse through listed items or services for sale or exchange
in a fully automated, topically arranged online service that will be easy to use and available 24 hours a day, seven days a week.

We eventually hope to offer two types of auction-style formats by means of our software and website, live and expiration. The live-auction format is where bids are accepted in real time during a specific time period set aside for this event. For
example, items would be placed in numbered lots, and using our server time as the local time, the auction would be conducted much like live auctions in traditional auction houses. The auction closes when bidders stop bidding, and the item will be
sold to the last bidder. However, we anticipate that our live auction format will comprise only a small portion of our business, due to the difficulty of coordinating a single time slot among potential bidders for the live auction event. We believe
that this style of auction format held on the Internet would have to be facilitated by the use of live, streaming online technology. Instead, we anticipate that the expiration type

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of auction format will comprise the bulk of our business, especially at the outset. The expiration-style format is currently in use on sites such as eBay and uBid.com. This format is where the item or service is posted, and bids are accepted until a
pre-set expiration time and date. In that way, bidders must either visit the site frequently to check whether they have been outbid or risk waiting until near the end of the bidding period to make what they hope will be a winning bid.

As of yet, we have not yet begun operations or generated any revenues, and given our limited resources, we will face significant difficulties in developing our business and may never be able to operate profitably. In addition, our auditors have
issued a going concern opinion. We have no operating history on which projections of our future operating performance may be based. Therefore, our future prospects for success could be very minimal.

Although we originally intended to develop our own proprietary technology, our management has concluded that it will be more cost-effective to purchase already existing technology from PHPAuction. We anticipate this technology will help expedite the
exchange of goods and services and concurrently help create a new niche market. This technology allows sellers to post items for buyers to browse and bid on. Along with the exchange of goods , PHPAuction also offers a forum for the exchange of
services of interest to both consumers and businesses. By developing our business locally and seeking international exposure to additional Internet users, we hope our service will become popular because of the value created in our software.

We are in the process of customizing the PHP Auction software to meet our needs and we anticipate conducting a soft launch of our website within the next few months. The soft-launch will consist of sending e-mails to friends and family and asking
them to register at our website to participate in a live test of our software. We anticipate that we will be in the soft launch phase for three to six months. The main objective during our soft launch period is to find any discrepancies with the
software and correct these before introducing our website to the public. Once we have made any necessary revisions to our software based on the feedback from our friends and family, we will then prepare for a full launch.

Since we intend to operate on the local level and slowly grow into other areas, our full launch will mainly consist of local advertising using cost effective media such as local cable channels, newspapers and banner ads on various Vancouver-based
websites. While we intend to spend some money on these forms of advertising, we intend to focus most of our attention on word of mouth advertising. We believe that this will be a much longer process than our soft launch and we may continue to be in
this phase anywhere from eight to twelve months. During this time, we hope to attract several thousands of users to our website. If the launch of our service in Vancouver is successful, we will then attempt to expand our operations into Washington
State and Oregon. We anticipate that expanding into Washington will take a minimum of six months and to reach Oregon may take an additional six months. Although we have intentions to meet all of these objectives, we may have difficulties doing so
should our software remain in a testing phase for too long or if the programmers that we contract can not make timely updates to our software.

We anticipate that our revenue model will function similarly to, though not exactly the same as currently successful online auction sites such as eBay.com and uBid.com, nor do we compare ourselves to those companies. The similarities in revenue
models that we anticipate having in common with sites such as eBay, uBid.com, and other online auction sites are that we anticipate that we will also charge listing fees, add-on fees, and collect revenue through offering advertising. We believe that
given the current Internet climate, these types of fees and charges are the most efficient method by which to operate such a site in a profitable manner, and that it would be difficult for us to operate an online auction site without the use of
these ways to generate revenues. We believe that as consumers increase their use of computers and the Internet to buy, sell and research merchandise, the Internet will become the main source for product knowledge. When a consumer compares prices, we
believe that they not only look at the local retail level, but they are now looking into online auctions such as Ebay.com and uBid.com. We hope to operate in a similar manner to other, established online auction sites, though we believe we will not
directly compete with sites such as eBay or uBid in that we hope to offer goods as well as services and intangible items. We estimate that many such online auction sites primarily offer goods. We believe that by providing a forum for users to also
offer and obtain various types of services and intangible items, we hope to be able to fill a market need and develop a profitable enterprise. This is because we also estimate that businesses are increasing the extent to which they utilize the
Internet to research and engage services they require, including hiring employees. Additionally, we believe that businesses and consumers in search of specific services will also increasingly turn to the Internet as a mechanism to fill job
vacancies, as well as to price and engage contractors to perform one-time and ongoing services ranging from

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housecleaning, remodeling, landscaping, and repairs to professional services, such as accounting, business consulting and marketing, and computer-related services.

Therefore, we also intend to fuse the employee search and contractor bid request process into the other items featured on our proposed website.

Our Anticipated Revenue Sources.

User Fees.Our business model is based on the exchange of goods and services over our website. We intend to charge sellers a fee to list their item or items on our site that is proportional to the sellers estimated value of the item. We
anticipate we will also charge an add-on listing fee for features that enhance their listing such as bold font, color backgrounds and prime locations. We expect that these features could account for a great majority of our revenue and we will
continually survey our users on the effectiveness of the add-ons to provide more accurate information to our sellers.

Along with the listing fees charged to sellers, we expect we will also charge a buyers premium to users that purchase an item on our site. We anticipate that this premium will depend on the dollar value of the item they purchase. When a buyer
has met the sellers asking price, the buyer will then pay the seller the price of the product and pay us a buyers premium on the item, as a percentage of the final sale price that varies with that price. We hope that these fees will be
our source of revenues, though we also hope to compete with other more established online auction sites by charging lower fees than these other sites. Even though some such sites do not charge buyers premiums, we anticipate that the selection
of items we are able to offer will nonetheless attract buyers to our proposed site.

Advertising and Licensing Revenues. While we anticipate that the use of our software on our proposed website will generate the majority of our revenue, we expect to also pursue revenues from advertising and licensing fees. As our user base
grows, we will explore the use of advertising agencies to help us attract advertisers interested in banner advertising on our proposed website. We expect that if we are able to license the use of our software to other businesses, this source of
revenue may prove to be a stable source of income. Once developed and demonstrated, we intend to offer our software to other highly trafficked websites that would be interested hosting their own online auction. When we have developed our software,
we expect we will be able to base the licensing fee on its value to the online community.

Our Industry.We believe that our business model has the potential to be successful, based on the increasing Internet population and the expanded use of e-commerce. We believe that growth in this sector presents income opportunities to
various businesses that offer products of interest to the consumer. In our estimation, the success of any web-based company depends directly on the amount of user traffic that can be attracted to the website. As more users turn to the Internet as a
place to shop for, purchase and sell goods and services, we believe that there will be growing demand for new online sites such as our proposed site. We believe that as more Internet users spend more time buying and selling online, there will be an
increase in online transactions and an increase in the demand for locations to conduct business online. We also believe that as Internet users spend more time online, they will seek new marketplaces to conduct these transactions. Therefore, we
believe that the current growth in the use of the Internet, in general, will allow us to attract more users to our proposed website. The more transactions we can facilitate by means of our proposed website will, in turn, will help increase our
revenue-generating opportunities. Once our website is fully operational, we believe that our service will become more popular as an alternative online auction site because of the range of available products, services and intangible items that we
hope to offer. Although we are not comparing ourselves to Ebay.com we do however anticipate that building our business on the local level will allow us to penetrate this market at a steady rate. Working with local businesses and relying on the
strength of our product we should be able to generate revenues our first year of operation. We believe that traffic can be attracted to a given website either by targeted online advertising, which can be costly, or through word-of-mouth advertising
among users and among people in the same community.

We anticipate marketing our business and drawing traffic to our proposed website on a word-of-mouth basis. We hope to begin our marketing efforts in the Greater Vancouver area, and after gaining a foothold there, continue those efforts with other
metropolitan areas in the Northwest. We believe that the Internet as a buying and selling tool is effective whether it creates an international or local market. We will attempt to limit our Internet exposure to that

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immediate area by not listing our site with major search engines, except as a Vancouver-specific website. For example, search engines have pages tailored to users located in a specific metropolitan area, and we would seek to post a link to our
website on a page or site dedicated to Vancouver area residents and businesses. We hope to be able to offer our online auction services to local businesses that our management can personally visit, to help those businesses offer or obtain goods and
services in which they wish to deal. By developing our business on a more localized level, we believe that this will allow us the opportunity to grow our operations at a steady rate without being overwhelmed by international growth of our service.
Making use of word-of-mouth advertising will also allow us to save thousands of dollars on marketing and instead allocate this toward software development.

Member Registration.We anticipate structuring our exchange model as a membership-driven service:

Sellers:In order for users to list their items in the live marketplace, they must first register as a user by clicking on the become a member link on our home page and filling out the subsequent registration form. Once
registered, users will then be able to login as a registered member and start posting items on our website. Posting an item involves a few simple steps, including designing an advertisement for their item, uploading pictures and setting a minimum
bid for their item. Once the member has submitted an item for sale, the seller can then watch how many bidders bid on the item while logged in to our website.

Buyers:When potential buyers arrive at our site, they can browse a sample selection of items listed on our site. However, should a buyer want to bid on an item, the buyer must then register as a new member or login as an existing member.
Once logged in as an Electric Network member, these new users can then start bidding on any item that interests them.

Payment:When the buyer and seller agree on the final sale price of an item, they must then arrange for the delivery of goods and payment through one of the sources we recommend. We intend to use FedEx as our only parcel delivery service and
PayPal as our main source of enabling buyers to send money to sellers. Once the seller has received funds from the buyer, the seller is then obligated to send the merchandise to the buyer. By using FedEx to ship the package, we hope to be able to
offer a shipping discount to the seller based on our anticipated partnership with FedEx. We have not yet entered any arrangement with FedEx or PayPal.

Exchange of Services.Along with being a forum for the buying and selling of goods, we also intend to create a new market niche by offering the exchange of services. We believe that this niche comprises of facilitating the exchange services,
as follows:

I. Providing a marketplace for businesses to bid on potential employees.

We believe that companies have begun to seek employees through job search websites such as monster.com. With our auction model, we anticipate that job opportunities would be listed on our site and potential candidates obtained through employment
agencies would be able to submit a bid for the job. Although we anticipate that employment agencies will be interested in our service, there is no guarantee that they will engage our service. To date, we have not contacted any of these agencies, nor
have we entered into any contracts with any of these agencies to provide our services. Once the company has accepted the bid, the transaction is not completed until the company interviews and hires the employee. Having hired the employee, the
company will be obligated to pay us the buyers premium for our service. We hope to serve as a central clearing-house where matches can be made between employment agency candidates and businesses seeking employees. We intend to acquire our job
vacancy notices by offering our business users a free Internet location to list their job openings, increasing the exposure that those vacancies will receive without adding cost to those businesses listing through us. We hope that in this way we
will acquire job listings, even though some of these businesses will also list their vacancies with agencies and job search engines for a fee. We believe our service will be attractive to those businesses seeking employees, enabling them to increase
the number of applicants for a given position they will receive, without increased cost. Then, we hope to offer these listed jobs to employment agencies, who have already screened the pool of applicants they represent, which will help to insure that
ultimately, only qualified applicants are sent for interview with the businesses seeking employees. We anticipate that our revenue from offering this will be generated from a portion of the fee the hiring business pays the agency. As with our other
proposed online goods and services offered, we anticipate beginning with job listings from the Vancouver area.

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II. Providing a marketplace for businesses to bid on a job contract.

We believe that there has been increased competition among businesses attempting to land a contract for a major project or job. By using our software, we believe that such companies will be able to access requests for proposals in their area and
make a bid to get the job. When the auction has closed, the employer will achieve the lowest cost and be able to select the company they want to do the work. When the bidding process starts for job auctions, the employer sets the maximum price they
can pay for the job; companies interested in doing the work will bid the price down, as the lowest bid will often win. This auction format keeps contractors competitive in offering bids, as the employer gets to see what the going rate is for such a
job. By offering our business users a way to list a job contract using a reverse auction format, we believe that our business users will be able to get the most competitive bid possible. We anticipate being able to attract companies to use our
listings for construction and other contracts they need completed through personal marketing of our services, beginning in the Vancouver area. We hope to generate revenues from this model by charging the contract offeror both a small listing fee and
a premium based on the final bid.

III. Providing a marketplace for businesses to bid on other businesses.

As a business reaches the end of its lifecycle, we believe the owner will try to sell the business or its component assets to retrieve what value they can from the enterprise. More often than not, we estimate that these businesses are never sold and
the owner must suffer a loss. By using our software, we hope to be able to help these business owners find buyers for their businesses or their assets using the resources of the Internet.

IV. Providing a marketplace for businesses to bid on providing a consumer services.

We believe that consumers and homeowners looking for a service to be performed can post a description of the project they need done, along with the price range they are willing to pay, and that businesses browsing our site can submit a bid to do the
service. An example of this would be a consumer needing their carpets cleaned. As this item is posted, carpet cleaning companies accessing our site would be directed to this job and compete for the consumers business. The company that gets the
job will pay us a buyers premium.

Our Software.We are in the process of configuring our software for use on our proposed website located at www.electricnetwork.com. We anticipate that this software will allow thousands of users to participate simultaneously in a live auction
from the comfort of their own homes or offices. We anticipate that our service will be a peer-to-peer auction such that we are never in possession of any of the goods or services offered on our site. The software that we have purchased from PHP
Auction has all of the features that Ebay has in a customizable package so that we can tailor it to our users.

PHP Auction is the perfect software for a small business because it is intended to run on a server with open source software such as Linux, Apache and MySQL. The use of this software has significantly reduced our development costs and we believe
that we will be able to allocate these resources to a more comprehensive marketing strategy. Aside from the database functions, we anticipate that most of the features of our software will be web-based, as described in the website section below. Now
that we have a complete auction software package we will now spend the next six to twelve months testing the software and embarking on a soft-launch.

We hope to offer two types of auction-style formats by means of our software and website, live and expiration. The live-auction format is where bids are accepted in real time during a specific time period set aside for this event. Items are placed
in numbered lots, and using our server time as the local time, the auction is conducted much like live auctions in traditional auction houses. The auction closes when bidders stop bidding, and the item will be sold to the last bidder. We anticipate
that our live auction format will comprise only a small portion of our business, due to the difficulty of coordinating a single time slot among potential bidders for the live auction event.

We anticipate that the expiration type of auction format will comprise the bulk of our business. This format is where the item or service is posted, and bids are accepted until a pre-set expiration time and date. In that way, bidders must either
visit the site frequently to check whether they have been outbid or risk waiting until near the end of the bidding period to make what they hope will be a winning bid.

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Our Proposed Website.We anticipate that our proposed website will initially display our corporate logo and contact information and provides a general description of the online auction or clearinghouse service that we intend to offer. Our
proposed website will be hosted in and operated from Vancouver, British Columbia. To date, we have constructed a simple webpage containing basic contact information. That page is not yet operational. As discussed above, we plan on further developing
our website to be ultimately used as such a service. We expect that our proposed website will have the following features:

The website that we anticipate developing will be similar to other auction websites; however, we hope to make our site more user- friendly and easier to navigate. We intend to spend much of the development period testing the usability of the site,
and after the site is operational, we intend to frequently update the site based on user input. Along with a user-friendly appearance, we expect that our website will be designed using the most common programming languages such as HTML, Java and
Macromedia Flash. To maximize the reach of our service, we anticipate that the site will be developed for compatibility with current versions of both Netscape Navigator and Internet Explorer.

We also hope to have our website designed to make it simple for users to easily register and start bidding shortly after first entering our site. To accomplish this, we believe that dividing the site into buyers and sellers portals will
streamline this process. We anticipate that users interested in selling an item will need only to click the sell button on our splash page to enter the sellers portal, and buyers can click the buy button to enter the
buyers site.

Once at the desired portal, we anticipate that the user can then either login as a registered user or register as a new user. We anticipate that our service will allow users to create user identities that will track their shopping or selling
preferences. We hope our users will log in using their established user identity every time they access our site so that they can have full access to their preferences without having to waste time looking for what they want. To reinforce the
importance of logging in, we only intend to display select items on our browsers pages and by logging in, these users will be able to view all of the items that are available. We anticipate we will also make use of cookies to
remember our users every time they visit our site, making logging in easier.

There are several features that we intend to offer to our users:

|Edit profile        | When logged in to the members area, we anticipate
        that users will be able to update their information by clicking on this
        link. Members can change their address, user information and password.                                                                                                                                                                                                                                                                                                                                                         
|------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Submit a comment    | Should a user want to contact us for any reason,
        we expect that we will design this link for users to send their comments
        to customer service; we anticipate being able to address their request
        within 24 hours.                                                                                                                                                                                                                                                                                                                                 
|                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Edit a listing      | When a user wants to change anything pertaining to
        their item or items listed on our site, we expect they will be able to
        edit such details as the listings text, picture, or price. Also,
        we anticipate that this area will enable users to upload new pictures
        of their items, change the text and also purchase add-on features. We
        expect to design this feature such that users can edit their items up
        until the expiration of their auction time.                                                                 
|                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|List items for sale | We anticipate we will design this site to function
        as follows: to list an item for sale, the user will through various steps
        to customize their offering and further describe their item. The user
        must select a category for their item, along with a start and close date,
        minimum bid and reserve price. The user must then enter the text to describe
        the item and decide whether to use any ad-on features to enhance the listing.
        The fully customized listing can then be posted to the live
        marketplace.
|                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Bid on an item      | We believe this feature will function as follows:
        users wishing to bid on an item find the item in the marketplace and click
        the bid link next to the listing. The bidders page will
        allow a prospective buyer to enter a dollar amount for the item they wish
        to bid on. Users must enter a value equal to or great than the asking
        price or the next highest bid. The bid will be saved to the bidders
        profile and the user can view their bid history on the item anytime they
        login.                      

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Third party components of our proposed operations.We anticipate that we will also make use of third party services to help complete the transaction process. As a secure form of payment, we plan to suggest that our users register with PayPal
to send money to sellers and expedite the time in which they receive their item. PayPal is a secure online method of transmitting and receiving payments, which we believe is a trusted and effective way for online buyers and sellers to send and
receive payments. We have not entered into any agreement with PayPal to provide these services to the eventual users of our website, nor do we plan to enter into any such agreement when we begin offering our services.

We believe that the Internet will continue to grow for several years to come. We estimate that the continued success of e-commerce will be directly linked to the growth of the Internet population, and as this grows so does spending over the
Internet. We believe that the Internet has emerged as a global medium that enables users to share information, communicate and conduct e-commerce transactions. We estimate that the potential of the Internet and e-commerce is increasing at a rapid
rate. We anticipate that hosting online auction-style exchanges over the Internet offers potential for a successful enterprise. We believe that the Internet has become a method of choice for millions of Americans to access information and buy or
sell products.

Our Business Strategy.Our objective is to establish and expand the reach and depth of our Internet-based auction-style forum for transactions and eventually generate banner advertising revenues. We plan to utilize a local Vancouver-based
Internet and web services company to assist in the continued development of new services and features for our website. We have not yet selected a particular Internet and web services company to complete the design of or host our proposed website. We
anticipate that this Internet and web services company will agree to update and develop our database in order to increase our capacity to do business as well as allow us to offer a new, improved features and services. We plan to collect payments for
our services in Vancouver, where our accountants are located.

To attract users to our site, we must offer a competitive range of services that are easy to use. We intend to build a product comparable to that of our competitors, but one that is more user-friendly, helping sellers sell and buyers find what they
want faster than our competitors websites. During the development of the website, we anticipate performing usability testing to determine the most efficient design for our service to help us attract more users to our site.

We believe that our pricing strategy will be the primary incentive for buyers and sellers to use our service. By charging lower listing fees and minimal buyers premiums, we anticipate increasing numbers of users will use our service over eBay
and uBid and other competitors because of our combination of goods and services offered by sellers, and a wider array of items available. We intend to aggressively maintain lower costs to ensure that our users are paying the lowest fees possible. We
expect that this commitment to our users will help build loyalty, and we believe that this will bring in more referrals and help increase our revenues and profitable operations.

Based on the success of our proposed website, we hope to generate interest from other companies to license our technology for their own use. By continually upgrading our software, we expect that our anticipated software will appreciate in value, and
that licensing our software may become a large portion of our planned revenue.

Marketing Strategy.Our primary marketing strategy is focused on word-of-mouth marketing that will be conducted through our directors. We believe that our directors business skills will help form relationships with Vancouver based
business owners so that we can build our user base. We believe that as a small business, word-of-mouth is our best option due to the high cost of advertising. We also believe that Vancouver residents may use our service over other online auctions
due to a sense of loyalty to their community. When we launch our service, we intend to emphasize our commitment to the community and that our service is for the Vancouver area by featuring Vancouver events and photos on our website.

We expect that most of our initial development efforts will focus on customizing the PHP Auction to suit our needs. We currently host our website on Mr. Rudovers server which is co-located at Binary Environments. We may purchase our own server
in the future should we require more memory, larger storage or faster processing speed. We are on a month-to-month basis with Binary Environments and we can access our server during standard business hours should we need to upgrade any hardware.

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While the software is being customized, we anticipate we will also begin researching the Vancouver area for strategic alliances. Through our research into the Vancouver market, we will try to develop relationships with local businesses so that we
can try to pre-sell our inventory listings. Pre-selling our inventory takes place when a company or an individual agrees to use our service to list their item that they intend to sell by paying a reserve price that will be credited to
their account. Once our software has been fully developed and our service is ready to be used by the public, the users that pre-listed with us will receive a prime display with free add-on features. We hope that these incentives will persuade users
to pre-register with us so that we will be able to display several items on our first day of operation. Based on the success of this test market, we anticipate that we will then expand our business by focusing on other metropolitan areas such as
Portland, Oregon and Los Angeles, California. We feel that developing our business on the West Coast will allow us to create a favorable reputation and expand our success further.

Growth Strategy.We anticipate that our growth strategy will focus on maximizing the value of our brand name for the eventual banner advertising and web-based auction style online forum we plan to offer. If we are able to generate sufficient
interest and sales through our website, we plan on expanding our operations beyond the West Coast. To accomplish this, we hope to become a popular source for our web-based auction and exchange services. In order to implement our growth strategy we
believe we must:

- complete construction of our website and continuously upgrade our services;
- generate high levels of interest and awareness in our name brand;
- encourage consumers to visit our proposed website;
- encourage repeat customers by rewarding customer loyalty;
- study repeat purchasing patterns so that we can foster long-term relationships with customers; and
- enhance and form key relationships with prospective sources of goods and services
    and other items for sale.

As our sales increase, we plan to build relationships with local businesses to help add content to our website and allow these businesses to test a new marketplace. Initially, we intend to offer waiving the listing fee for these businesses when
listing their items as this will also help build loyalty and goodwill with these businesses. We hope that these businesses that use our service in exchange for providing feedback to help us improve our service.

Aiding businesses with the transaction of goods will be our main offering, but we also intend to help improve businesses through the use of our service exchange. From employees to machinery, we hope to offer businesses alternative methods to find
staff and supplies needed for daily operations. We hope that these businesses will see the opportunity to save money by using our services on a regular basis.

As we build relationships with local businesses, we intend to help them promote their enterprises while they provide items for our auction site. We believe that many companies have surplus items that that they attempt to sell at the retail level,
but end up taking a loss on the item. We hope to offer these businesses a service to optimize the value of this surplus by placing these items for auction on our website. Instead of charging these companies a listing fee, we anticipate that we will
ask them to instead promote our site to their clients, attracting more users to our site. We believe this method will be attractive to these businesses in that it will promote consumer interest in their businesses as well as ours.

Government Regulation of Online Commerce.Online commerce is new and rapidly changing, and federal and state regulations relating to the Internet and online commerce are relatively new and evolving. Due to the increasing popularity of the
Internet, it is possible that laws and regulations will be enacted to address issues such as user privacy, pricing, content, copyrights, distribution, antitrust matters and the quality of products and services. The adoption of these laws or
regulations could reduce the rate of growth of the Internet. If these regulations make the operation of a website such as ours more expensive than we anticipate, or more unwieldy than potential bidders and sellers are willing to tolerate, then these
regulations could potentially decrease the usage of our proposed website and could otherwise harm our business. For example, if internet transactions are taxed, monitored or restricted by local, state or federal authorities more than these
transactions currently are, or if consumers or businesses begin to disfavor online transactions, then there might be less demand for a site and services such as ours.

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In addition, the applicability to the Internet on existing laws governing issues such as trademarks, copyrights and other intellectual property issues is uncertain. We cannot be sure what effect the use of our trade name on our website might have on
any future trademark applications domestically or abroad. For example, we have applied for trademark registration of our tradename, The Electricnetwork.com for use in conjunction with our proposed website, since our reserved domain name uses the
same name. If another company challenges our trademark registration application, we would either need to expend resources to either defend that use, or identify another name to use, and change our domain name and other materials to conform to that
new name. Additionally, we might have to defend copyright infringement suits because of material posted to our site by sellers or bidders. Even if such suits are baseless, or we have disclaimed such uses by others, we might still have to expend
resources to arrive at that determination. The uncertainty of the Internet and how it affects intellectual property rights could adversely affect our ability to protect the intellectual property rights we may acquire in the future. Most of these
laws were adopted prior to the advent of the Internet and do not contemplate or address the unique issues of the Internet.

New laws applicable to the Internet may impose substantial burdens on companies conducting online commerce. In addition, the growth and development of online commerce may prompt calls for more stringent consumer protection laws in the United States
and abroad. Specifically, the way we advertise our proposed services will likely be affected by more stringent laws in that we, or users of our site, could be prevented from making certain representations about our services or products or services
offered by third-party users of our site. The cost of complying with such laws could increase our cost of doing business, drive up prices and harm our ability to earn revenues. For example, if we were required by future regulations to verify or
reveal the identity of bidders and buyers, or if we are required to monitor or verify the quality of goods or services offered on our site by third party sellers, our costs would increase and we would not be able to handle more than a minimal number
of exchanges on our site, which would limit the revenues we would be capable of generating. Moreover, stricter laws regarding the reporting of online auction-style exchange of goods or services will likely increase the cost of doing business because
we will need to comply with such laws. For example, if we begin offering a forum for the exchange of goods or services obtained by means of an online auction in jurisdictions that stringently regulate or monitor such activities, we could be forced
to expend additional funds to meet such standards. The additional cost will harm our ability to earn revenues.

Taxing authorities in a number of states are currently reviewing the appropriate tax treatment of companies engaged in Internet commerce. New state tax regulations may subject us to additional state sales, use and income taxes. The adoption of any
of these laws or regulations may decrease the growth of Internet usage or the acceptance of Internet commerce which could, in turn, decrease the demand for our services, increase costs and otherwise have a material adverse effect on our ability to
earn revenues. For example, if state or local agencies begin taxing Internet transactions, sites such as ours may experience lower levels of traffic and therefore, lower levels of revenues. To date, we have not spent significant resources on
lobbying or related government affairs issues, but we may need to do so in the future.

Several telecommunications carriers have asked the FCC to regulate telecommunications over the Internet. Due to the increasing use of the Internet and the burden it has placed on the telecommunications infrastructure, telephone carriers have
requested the FCC to regulate Internet and online service providers and to impose access fees on those providers. If the FCC imposes access fees, the costs of using the Internet could increase dramatically. In this event, our margins could be
negatively impacted because we will rely solely on Internet traffic to generate revenues.

Competition.We anticipate that we will primarily compete with other online auction and exchange websites that offer similar forums for exchanging goods and services. We have not yet begun operations, and therefore have not actually begun to
compete with other websites offering online auction and exchange services. Because, in our estimation, most online auction or exchange websites tend to offer either goods or services, we hope to distinguish our operations from established online and
exchange websites by featuring a wide array of both goods and services on our site. The web-based exchange or clearinghouse industries and e-commerce trading industries are very competitive and extremely fragmented. We will compete directly with
other companies and businesses that have developed and are in the process of developing platforms for Internet based exchange and shopping forums, as well as those that offer Internet banner advertising. We intend to compete by providing an
innovative range of goods, services, and intangible items available in the online auction format. We believe that providing a forum for the offer and sale of everything from goods typically sold in retail stores, one-of-a-kind collectables, odd-lot,
leftover inventory and seconds, to services of all types, such as construction, building or cleaning on an ongoing or project basis, to management, consulting, computer or other professional services, or intangible items such as intellectual

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property rights including domain names or copyrights, and other items such as timeshare exchanges, rideshare or roommate matching, in short, anything of value that can be offered and sold, will be a viable business model for us to pursue. In the
future we may also provide other web-based services useful to consumers and businesses, such as e-mail and other online data management services, which may include basic web hosting, including secure server, database applications, conferencing
services and intranet development and maintenance.

Additionally, other forums traditionally used for buying and selling goods, such as printed media and auction houses, have tended to expand their operations to the Internet. For example, almost every newspaper and trade magazine has a website that
allows users to post and browse sale item. Many newspapers are seeking alternative means of selling merchandise over the Internet through their website and online auction software is becoming the desired format. This market will continue to grow as
more newspapers build their own websites. Also, local auction houses have begun to offer online bidding through the use of their website.

Many of these competitors have greater resources, and more experience in research and development, than us. These resources may enable our competitors to finance acquisition and development opportunities, pay higher prices for the same opportunities
or develop and support their own operations. In addition, many of these companies can offer bundled, value-added or additional services not provided by us. Many may also have greater name recognition. Our competitors may have the luxury of
sacrificing profitability in order to capture a greater portion of the market for business consulting activities. They may also be in a position to pay higher prices than we would for the same expansion and development opportunities. Consequently,
we may encounter significant competition in our efforts to achieve our internal and external growth objectives.

We cannot guarantee that other online auction or exchange services, which are functionally equivalent or similar to our proposed services, are not already marketed or will not be marketed. For example, eBay, Bid.com, Amazon.com, Auction.com,
LiveAuctionOnline.com, Auction1Online.com, TradingTurf.com, uBid.com and other companies do provide some elements of our service offering, though we believe none provide the range of items for exchange the way we propose to do. Moreover, we will
also compete against online auction services that specialize in one type of good or service, such as Winebid.com, Golfclubexchange.com, or Monster.com for job searches, to name a few, that focus on a particular market.

Intellectual Property Rights.We currently own one copyright and one trademark. The copyright is based on the first draft of our business overview that was created in late 1998. The trademark that we own is our business name, established on
January 29, 1999 through registering our domain name on the Internet. After completion of our software and website, we may consider a patent application, however, we will not consider pursuing patent protection until our company generates sufficient
revenues to support this cost.

Our success depends in part upon our ability to preserve our intellectual property rights, or the rights we may acquire in the future. Our success will also depend in part on our ability to operate without infringing the proprietary rights of other
parties. We may also rely on certain proprietary technologies, trade secrets, and know-how that are not patentable. Our website is currently being developed, and we own the domain name www.electricnetwork.com. Under current domain name registration
practices, no one else can obtain a domain name identical to ours, but someone might obtain a similar name, or the identical name with a different suffix, such as .org, or with a country designation. The regulation of domain names in the
United States and in foreign countries is subject to change, and we could be unable to prevent third parties from acquiring domain names that infringe or otherwise decrease the value of our domain names.

Our trademark will grant us the exclusive right to use or license such trademarks and could assist us in the protection of our brand name and image. We will regard our trademark as a valuable asset in the marketing of our services and we will
actively seek to protect it against infringement. Any additional trade names and trademarks we develop can be helpful in garnering broader market awareness of our services and will be significant in marketing our services. Therefore, we propose to
adopt a policy of vigorous defense of our trademarks against infringement under the laws of the United States and other countries.

Our Research and Development.We are not currently conducting any research and development activities except for the development of our website and the design of our software and services. Other than the development of our website and the
design of our software and services, we do not anticipate conducting any other such activities in the

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near future. To date, we have not expended any funds on research and development activities, rather, the research and development activities conducted by our management have been services donated to us.

Employees.As of March 31, 2004, we had no employees, other than our officers.

Facilities.Our corporate offices are located at Suite 1400  1500 West Georgia Street Vancouver British Columbia Canada V6G 2Z6.

ITEM 2. DESCRIPTION OF PROPERTY

Our corporate and operational offices are located at Suite 1400  1500 West Georgia Street Vancouver British Columbia Canada V6G 2Z6 where we lease office space under a month to month lease at a rental rate of $175 a month. We believe that this
space is sufficient at this time. However, we may move to expanded office space when and if our business expands. We do not have any material assets and, as such, we do not own any real or personal property.

ITEM 3. LEGAL PROCEEDINGS

To the best of our knowledge, we are not a party to any pending litigation and none is contemplated or threatened.

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

No matters were submitted to a vote of our shareholders during the fiscal year ended December 31, 2003.

PART II

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

Our common stock is not listed for trading on any stock exchange or an automated quotation system and there is no public trading market.

We do not have any outstanding options or warrants to purchase, or securities convertible into, our common equity.

In February, 1999 we accepted subscriptions from 25 investors and issued 10,000,000 units at a price of $0.001 per unit for gross consideration of $10,000. Each unit consisted of one share of our common stock and one-half of one share purchase
warrant. The warrants expired unexercised in February 2000. We have identified that 12 of the holders of these securities may be considered underwriters by the SEC, have placed stop transfer instructions against the
certificates representing these shares and a legend has been imprinted on the stock certificates. These 12 stockholders have entered into agreements with us in which we agreed to register the 8,010,000 common shares held by them pursuant to a
Registration Statement on Form SB-2 to be filed with the Securities and Exchange Commission in exchange for their agreement not to sell more than 50,000 of these shares each in the public market in any three month period. We plan to file the
Registration Statement as soon as practicable following the filing of this report.

As of March 31, 2004, the number of shares of Common Stock that can be sold by officers, directors, principal shareholders, and others pursuant to Rule 144 (excluding the 8,010,000 referred to above) is 1,990,000.

In December, 2003 we accepted subscriptions from 24 investors and issued 203,000 shares of our common stock at a price of $0.25 per share for gross consideration of $50,750. We have agreed to register these securities pursuant to a Registration
Statement on Form SB-2 to be filed with the Securities and Exchange Commission. We plan to file the Registration Statement as soon as practicable following the filing of this report.

We are not and do not propose to publicly offer any of our common equity at this time.

As at March 31, 2004 we had 18,803,000 issued and outstanding shares of common stock held by approximately 52 shareholders of record, two of these shareholders serves as our officers and directors.

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Since its inception, we have not paid any dividends on our common stock, and we do not anticipate that we will pay dividends in the foreseeable future.

There are no securities authorized for issuance under equity compensation plans.

Recent Sales of Unregistered Securities

In February, 1999 we accepted subscriptions from 25 investors and issued 10,000,000 units at a price of $0.001 per unit for gross consideration of $10,000. Each unit consisted of one share of our common stock and one-half of one share purchase
warrant. Each whole share purchase warrant entitled the holder to purchase an additional share of our common stock for one year at a price of $0.02 per share. The warrants expired unexercised in February 2000. The units were issued in reliance upon
the exemptions from registration provided by Rule 506 of Regulation D or Regulation S. There were no commissions paid. We have identified that 12 of the holders of these securities may be considered underwriters by the SEC and have
placed stop transfer instructions against the certificates representing these shares and a legend has been imprinted on the stock certificates. These 12 stockholders have entered into agreements with us in which we agreed to register
these securities pursuant to a Registration Statement on Form SB-2 to be filed with the Securities and Exchange Commission in exchange for their agreement not to sell more than 50,000 of these shares each in the public market in any three month
period.

In April 2002 we accepted subscriptions from 2 investors and issued 600,000 shares of our common stock at a price of $0.10 per share for gross consideration of $60,000. There were no commissions paid. These securities were issued in reliance upon
the exemption from registration provided by Regulation S as the purchasers were not U.S. Persons as that term is defined in Regulation S. There were no commissions paid.

In February 2003 we entered into management services agreements with each of Stephen Hanson and J. David Brow pursuant to which we agreed to issue to each of these gentlemen 4,000,000 shares of our common stock at deemed price of $0.01 per share in
exchange for management and business development services to be rendered to us valued at $40,000 each. There were no commissions paid. These shares were issued in reliance upon the exemption from registration provided by s. 4(2) of the Securities
Act of 1933 of 1933. Mr. Hanson subsequently transferred his 4,000,000 shares to our President and Chief Financial Officer, Brad W. Rudover.

In December, 2003 we accepted subscriptions from 24 investors and issued 203,000 shares of our common stock at a price of $0.25 per share for gross consideration of $50,750. There were no commissions paid. These securities were issued in reliance
upon the exemption from registration provided by Regulation S as the purchasers were not U.S. Persons as that term is defined in Regulation S. We have agreed to register these securities pursuant to a Registration Statement on Form SB-2 to be filed
with the Securities and Exchange Commission. There are stop transfer instructions placed against the certificates and a legend has been imprinted on the stock certificates.

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

THIS FOLLOWING INFORMATION SPECIFIES CERTAIN FORWARD-LOOKING
  STATEMENTS OF MANAGEMENT OF THE COMPANY. FORWARD-LOOKING STATEMENTS ARE STATEMENTS
  THAT ESTIMATE THE HAPPENING OF FUTURE EVENTS ARE NOT BASED ON HISTORICAL FACT.
  FORWARD-LOOKING STATEMENTS MAY BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY,
  SUCH AS "MAY", "SHALL", "WILL", "COULD", "EXPECT", "ESTIMATE", "ANTICIPATE",
  "PREDICT", "PROBABLE", "POSSIBLE", "SHOULD", "CONTINUE", OR SIMILAR TERMS, VARIATIONS
  OF THOSE TERMS OR THE NEGATIVE OF THOSE TERMS. THE FORWARD-LOOKING STATEMENTS
  SPECIFIED IN THE FOLLOWING INFORMATION HAVE BEEN COMPILED BY OUR MANAGEMENT
  ON THE BASIS OF ASSUMPTIONS MADE BY MANAGEMENT AND CONSIDERED BY MANAGEMENT
  TO BE REASONABLE. OUR FUTURE OPERATING RESULTS, HOWEVER, ARE IMPOSSIBLE TO PREDICT
  AND NO REPRESENTATION, GUARANTY, OR WARRANTY IS TO BE INFERRED FROM THOSE FORWARD-LOOKING
  STATEMENTS.

THE ASSUMPTIONS USED FOR PURPOSES OF THE FORWARD-LOOKING STATEMENTS
  SPECIFIED IN THE FOLLOWING INFORMATION REPRESENT ESTIMATES OF FUTURE EVENTS
  AND ARE SUBJECT

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TO UNCERTAINTY AS TO POSSIBLE CHANGES IN ECONOMIC, LEGISLATIVE,
  INDUSTRY, AND OTHER CIRCUMSTANCES. AS A RESULT, THE IDENTIFICATION AND INTERPRETATION
  OF DATA AND OTHER INFORMATION AND THEIR USE IN DEVELOPING AND SELECTING ASSUMPTIONS
  FROM AND AMONG REASONABLE ALTERNATIVES REQUIRE THE EXERCISE OF JUDGMENT. TO
  THE EXTENT THAT THE ASSUMED EVENTS DO NOT OCCUR, THE OUTCOME MAY VARY SUBSTANTIALLY
  FROM ANTICIPATED OR PROJECTED RESULTS, AND, ACCORDINGLY, NO OPINION IS EXPRESSED
  ON THE ACHIEVABILITY OF THOSE FORWARD-LOOKING STATEMENTS. NO ASSURANCE CAN BE
  GIVEN THAT ANY OF THE ASSUMPTIONS RELATING TO THE FORWARD-LOOKING STATEMENTS
  SPECIFIED IN THE FOLLOWING INFORMATION ARE ACCURATE, AND WE ASSUME NO OBLIGATION
  TO UPDATE ANY SUCH FORWARD-LOOKING STATEMENTS.

Critical Accounting Policy and Estimates

Our Management's Discussion and Analysis of Financial Condition and Results of Operations section discusses our financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of
America. The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and
expenses during the reporting period. On an on-going basis, management evaluates its estimates and judgments, including those related to revenue recognition, accrued expenses, financing operations, and contingencies and litigation. Management bases
its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities
that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. The most significant accounting estimates inherent in the preparation of our financial statements include
estimates as to the appropriate carrying value of certain assets and liabilities which are not readily apparent from other sources. These accounting policies are described at relevant sections in this discussion and analysis and in the notes to the
financial statements included in our Annual Report on Form 10-KSB for the year ended December 31, 2003.

We were incorporated in Nevada on February 3, 1999 and reincorporated in Delaware on March 31, 2004. We are a development stage business that has not yet commenced operations. We hope to be in the business of serving as an Internet marketplace where
consumers and entrepreneurs can meet to buy, sell or exchange goods and services, or almost anything with a perceived value that can be sold over the internet. While we eventually hope to develop an Internet auction marketplace that is global in
scope, we plan to launch our business operations on a much smaller level. Specifically, we are developing our proposed website and software to be used in the Greater Vancouver area such that only Vancouver-area residents will be able to participate
in the online auctions we plan to host during our first few months of operation.

There were no 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.

Liquidity and Capital Resources

There is limited historical financial information about our company upon which to base an evaluation of our performance. We are a development stage company and have not generated any revenues from operations.

Our continued existence and plans for future growth depend on our ability to obtain the capital necessary to operate, through the generation of revenue and the issuance of additional debt or equity. We will need to raise additional capital to fund
normal operating costs and exploration efforts. If we are not able to generate sufficient revenues and cash flows or obtain additional or alternative funding, we will be unable to continue as a going concern. As disclosed in the report of
independent auditors on our financial statements provided elsewhere in this report, our recurring losses and negative cash flow from operations raise substantial doubt about our ability to continue as a going concern.

At December 31, 2003 we had cash of $32,281, current liabilities of $24,255 and working capital of $8,026. Management has determined that because of the limited amount of working capital, significant operating losses and

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lack of liquidity, there is doubt about our ability to continue in existence unless additional working capital is obtained.

At the present time, we do not have sufficient funds to fulfill our plan of business and therefore we will have to determine the best method of raising funds to accomplish our goals. In order to meet our short-term financing needs, we undertook a
private placement in November, 2003 pursuant to which we issued 203,000 shares at a price of $0.25 per share for gross proceeds of $50,750.

The monies raised are being used for general working capital purposes. However, these funds will be insufficient to fund the implementation of our business plan.

We expect that the implementation of our business plan will require a total of $100,000.  However, there is no guarantee that such funds will be adequate. We plan to submit a filing to NASDR, Inc. in order to have our common stock quoted on the over
the counter market once we have located a market maker who is willing to make the filing on our behalf. We expect that the establishment of a public market for our common stock will enable us to raise the funds required to implement our business
plan. There is no guarantee that we will be successful in locating a market maker, obtaining a symbol for our common stock, or that such listing will enable us to raise the capital required by our business plan.

Results of Operations Years ended December 31, 2003 and 2002

Results of Operations. For the year ended December 31, 2003, we realized no revenue from operations. Our cumulative net loss from our inception on February 3, 1999 to December 31, 2003 was $173,404. Our net loss for the year ended December
31, 2003 was $109,250. We anticipate that we will begin realizing revenues by Q4 2004 as we anticipate that our operations will not commence until Q3 2004. Our prediction regarding when we will begin realizing revenue is subject to many
contingencies, including, but not limited to: unforeseen delays in the design of our first line of services; downturn in economic trends; increased cost of operating; and loss of key management.

Operating Expenses. For the year ended December 31, 2003, our operating expenses were $109,250. This was represented by accounting and audit expenses of $10,028, along with $75,670 in consulting fees, which included $73,333 of stock
compensation expenses, $1,100 was represented by donated overhead, and $200 was represented by donated services.  We also had $15,103 in legal and organizational expenses, $3,159 in office expenses and $3,990 in transfer agent fees. In comparison,
for the year ended December 31, 2002, our operating expenses were $43,142, represented mostly by legal and organizational expenses of $4,248, consulting expenses of $24,718 and accounting and audit fees of $6,750. The increase in operating expenses
is largely due to the increase in consulting fees of $75,670 for the year ended December 31, 2003 compared to $24,718 in the same period in the prior year, and the increase in legal and organizational expenses to $15,103 for the year ended December
31, 2003 from $4,248 for the year ended December 31, 2002. From our inception on February 3, 1999, to December 31, 2003, our cumulative operating expenses have been $173,404.

Our Plan of Operation for the next Twelve Months. As of December 31 we had working capital of $8,026. We will need a continuing source of funds to pay our operating expenses through the next twelve months. There is no guarantee that we will
be able to raise the funds we need to pay those operating expenses through that period. However, we anticipate that our officers and directors will fund our operations through this period of time. Our forecast of the period of time through which our
financial resources will be adequate to support our operations is a forward-looking statement that involves risks and uncertainties, and actual results could vary as a result of a number of factors. Such factors will include those factors discussed
below. In addition, we may experience delays in deploying our website. If we are not able to bring our website online as quickly as expected, our ability to earn revenue will be harmed, because our only source of revenue will be for listings on our
website. If we are unable to earn revenues, our current resources will be strained to cover any revenue shortfall.

Our plan of operation is materially dependent on our ability to complete the development of our website and raise additional capital to market our services by means of our proposed website. We believe that we will need approximately $15,000 to
market our services. Within the next twelve months, we must complete the design and development of our website, for which we believe we will need approximately $30,000. We have hired a third party to complete the development of our website. However,
due to our limited working capital we have not been able to

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complete our website and commence operations.  We hope to be able to commence operations and generate revenues by December 2004. Finally, we will need to raise additional working capital either through the sale of our capital stock or through loans.
There is no guarantee that we will be able to raise additional capital through the sale of our common stock. Moreover, there is no guarantee that we will be able to arrange for loans on favorable terms, or at all.

We expect to use any current cash resources to pay for legal and accounting expenses in connection with our obtaining a listing for our common stock on the over the counter market. Until we obtain such a listing, our inability to access the capital
markets or obtain acceptable financing could have a material adverse effect on our results of operations and financial condition. To the extent that additional capital is raised through the sale of equity or equity-related securities, the issuance
of such securities could result in dilution of our stockholders. We cannot guaranty that additional funding will be available on favorable terms. If adequate funds are not available within the next 12 months, we may be required to limit our
activities or to obtain funds through entering into arrangements with collaborative partners. If adequate funds are not available, we believe that our officers and directors will contribute funds to pay for our expenses. Our belief that our officers
and directors will pay our expenses is based on the fact that our officers and directors collectively and beneficially own 9,500,000 shares of our common stock, which equals approximately 45% of our total issued and outstanding common stock. We
believe that our officers and directors will continue to pay our expenses as long as they maintain their ownership of our common stock. If our officers and directors loan us operating capital, we will either execute promissory notes to repay the
funds or issue stock to those officers and directors. We have not formulated specific repayment terms. We will negotiate the specific repayment terms and whether repayment will be in the form of stock when, and if, funds are advanced by any of our
officers and directors.

Once our software has been completely developed, we anticipate that we will then focus much of our efforts on the marketing of our services to individuals and businesses. We believe that our management and contractors that we anticipate hiring will
contact several leads and meet with these clients to help build our service.

ITEM 7. FINANCIAL STATEMENTS

The following financial statements are included in this report:

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| | Report of Independent Auditor                                                                                                                                       | F-1 
| |                                                                                                                                                                     |     
| | Balance Sheet as at December 31, 2003                                                                                                                               | F-2 
| |                                                                                                                                                                     |     
| | Statement of Operations for the years ended December
      31, 2003 and 2002 and for the period fromFebruary
      3, 1999 (date of Inception) to December 31, 2003 | F-3 
| |                                                                                                                                                                     |     
| | Statement of Cash Flows for the years
      ended December 31, 2003 and 2003 and for the period fromFebruary 3, 1999 (Date of Inception) to December 31, 2003       | F-4 
| |                                                                                                                                                                     |     
| | Statement of Changes in Stockholders'
      Equity for the period from February 3, 1999 (Date ofInception)
      to December 31, 2003                               | F-5 
| |                                                                                                                                                                     |     
| | Notes to Financial Statements                                                                                                                                       | F-6 

15

---



Independent Auditors Report

To the Board of Directors and Stockholders of 
  The Electric Network.com, Inc. 
  (A Development Stage Company)

We have audited the accompanying balance sheets of The Electric Network.com, Inc. (A Development Stage Company) as of December 31, 2003 and 2002 and the related statements of operations, cash flows and stockholders equity accumulated for the
period from February 3, 1999 (Date of Inception) to December 31, 2003 and the years ended December 31, 2003 and 2002. 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 auditing standards generally accepted 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 aforementioned financial statements present fairly, in all material respects, the financial position of The Electric Network.com, Inc. (A Development Stage Company), as of December 31, 2003 and 2002, and the results of its
operations and its cash flows accumulated for the period from February 3, 1999 (Date of Inception) to December 31, 2003 and the years ended December 31, 2003 and 2002, in conformity with accounting principles generally accepted in the United States.

The accompanying financial statements have been prepared assuming the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company has not generated any revenues or profitable operations since inception
and will need additional equity financing to begin realizing upon its business plan. These factors raise substantial doubt about the Companys ability to continue as a going concern. Managements plans in regard to these matters are also
discussed in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

/s/ Manning Elliott 
  CHARTERED ACCOUNTANTS

Vancouver, Canada
  January 19, 2004

F - 1

---

The Electric Network.com, Inc.
  (A Development Stage Company) 
  Balance Sheets
  (Expressed in U.S. dollars)

|                                                                    | December 31, |   | December 31, |  
|------------------------------------------------------------------- | ------------ | - | ------------ | -
|                                                                    | 2003         |   | 2002         |  
|                                                                    | $            |   | $            |  
|Assets                                                              |              |   |              |  
|                                                                    |              |   |              |  
|Current Assets                                                      |              |   |              |  
|Cash                                                                | 32,281       |   | 8,199        |  
|Prepaid
      Expenses                                              |             |   | 179          |  
|Total Assets                                                        | 32,281       |   | 8,378        |  
|                                                                    |              |   |              |  
|Liabilities and Stockholders Equity (Deficit)                      |              |   |              |  
|Current Liabilities                                                 |              |   |              |  
|Accounts Payable                                                    | 1,200        |   | 1,532        |  
|Accrued Liabilities (Note
      6)                                  | 7,955        |   | 7,800        |  
|Advances
      Payable (Note 3(b))                                  | 15,100       |   | 5,100        |  
|Total Liabilities                                                   | 24,255       |   | 14,432       |  
|                                                                    |              |   |              |  
|Commitments (Notes 1 and 4)                                         |              |   |              |  
|                                                                    |              |   |              |  
|Stockholders Equity (Deficit)                                      |              |   |              |  
|                                                                    |              |   |              |  
|Common Stock, 100,000,000 common shares authorized with a par value |              |   |              |  
|of $0.001; 18,803,000 and 10,600,000 issued and outstanding,        |              |   |              |  
|respectively                                                        | 18,803       |   | 10,600       |  
|                                                                    |              |   |              |  
|Additional Paid in Capital                                          | 153,894      |   | 33,400       |  
|                                                                    |              |   |              |  
|Donated Capital (Note 3(a))                                         | 15,400       |   | 14,100       |  
|                                                                    |              |   |              |  
|Deferred Compensation (Note 5(a))                                   | (6,667       | ) |             |  
|                                                                    | 181,430      |   | 58,100       |  
|Deficit Accumulated During the Development Stage                    | (173,404     | ) | (64,154      | )
|Total Stockholders Equity (Deficit)                                | 8,026        |   | (6,054       | )
|Total Liabilities and Stockholders Equity
      (Deficit)          | 32,281       |   | 8,378        |  

(The accompanying notes are an integral part of the financial statements.)

F - 2

---

The Electric Network.com, Inc.
  (A Development Stage Company) 
  Statements of Operations 
  (Expressed in U.S. dollars)

|                                    | Accumulated         |   |              |   |            |  
|----------------------------------- | ------------------- | - | ------------ | - | ---------- | -
|                                    | For the Period From |   |              |   |            |  
|                                    | February 3, 1999    |   |              |   |            |  
|                                    | (Date of Inception) |   | Years Ended  |   |            |  
|                                    | to December 31,     |   | December 31, |   |            |  
|                                    | 2003                |   | 2003         |   | 2002       |  
|                                    | $                   |   | $            |   | $          |  
|                                    |                     |   |              |   |            |  
|Revenue                             |                    |   |             |   |           |  
|                                    |                     |   |              |   |            |  
|Expenses                            |                     |   |              |   |            |  
|Accounting and audit                | 18,578              |   | 10,028       |   | 6,750      |  
|Consulting (Note 3(c))              | 100,388             |   | 75,670       |   | 24,718     |  
|Donated overhead (Note
      3(a))  | 5,800               |   | 1,100        |   | 1,200      |  
|Donated services (Note
      3(a))  | 9,600               |   | 200          |   | 2,400      |  
|Legal and organizational            | 27,395              |   | 15,103       |   | 4,248      |  
|Office                              | 5,988               |   | 3,159        |   | 2,161      |  
|Transfer
      agent                | 5,655               |   | 3,990        |   | 1,665      |  
|                                    | 173,404             |   | 109,250      |   | 43,142     |  
|Net Loss for the Period             | (173,404            | ) | (109,250     | ) | (43,142    | )
|                                    |                     |   |              |   |            |  
|Basic Loss Per Share                |                     |   | 0.01         |   |           |  
|                                    |                     |   |              |   |            |  
|Weighted Average Shares Outstanding |                     |   | 17,933,000   |   | 10,400,000 |  

(Diluted loss per share has not been presented, as the result is anti-dilutive)

(The accompanying notes are an integral part of the financial statements.)

F - 3

---

The Electric Network.com, Inc.
  (A Development Stage Company) 
  Statements of Cash Flows
  (Expressed in U.S. dollars)

|                                                 | Accumulated         |   |              |   |         |  
|------------------------------------------------ | ------------------- | - | ------------ | - | ------- | -
|                                                 | For the Period From |   |              |   |         |  
|                                                 | February 3, 1999    |   |              |   |         |  
|                                                 | (Date of Inception) |   | Years Ended  |   |         |  
|                                                 | To December 31,     |   | December 31, |   |         |  
|                                                 | 2003                |   | 2003         |   | 2002    |  
|                                                 | $                   |   | $            |   | $       |  
|                                                 |                     |   |              |   |         |  
|Cash Flows to Operating Activities               |                     |   |              |   |         |  
|                                                 |                     |   |              |   |         |  
|Net Loss for the Year                            | (173,404            | ) | (109,250     | ) | (43,142 | )
|Adjustments to reconcile
      net loss to cash  |                     |   |              |   |         |  
|Donated
      overhead                           | 5,800               |   | 1,100        |   | 1,200   |  
|Donated
      services                           | 9,600               |   | 200          |   | 2,400   |  
|Expenses
      settled with issuance of          |                     |   |              |   |         |  
|common
      shares                              | 73,333              |   | 73,333       |   | -       |  
|Change in operating assets
      and liabilities |                     |   |              |   |         |  
|Decrease
      (increase) in prepaid expense     |                    |   | 179          |   | (179    | )
|Increase
      (decrease) in accounts payable    | 1,200               |   | (332         | ) | 1,529   |  
|Increase
      in accrued liabilities            | 7,955               |   | 155          |   | 6,000   |  
|                                                 |                     |   |              |   |         |  
|Net Cash Used by Operating Activities            | (75,516             | ) | (34,615      | ) | (32,192 | )
|                                                 |                     |   |              |   |         |  
|Cash Flows From Financing Activities             |                     |   |              |   |         |  
|Proceeds from issuance
      of shares, net of   |                     |   |              |   |         |  
|offering
      costs                             | 92,697              |   | 48,697       |   | 34,000  |  
|Proceeds
      from related party advances       | 15,100              |   | 10,000       |   |        |  
|                                                 |                     |   |              |   |         |  
|Net Cash Provided by Financing Activities        | 107,797             |   | 58,697       |   | 34,000  |  
|                                                 |                     |   |              |   |         |  
|Increase in Cash                                 | 32,281              |   | 24,082       |   | 1,808   |  
|                                                 |                     |   |              |   |         |  
|Cash  Beginning of Period                       |                    |   | 8,199        |   | 6,391   |  
|                                                 |                     |   |              |   |         |  
|Cash  End of Period                             | 32,281              |   | 32,281       |   | 8,199   |  
|                                                 |                     |   |              |   |         |  
|Supplemental Disclosures                         |                     |   |              |   |         |  
|Interest paid                                    |                    |   |             |   |        |  
|Income tax paid                                  |                    |   |             |   |        |  

(The accompanying notes are an integral part of the financial statements.)

F - 4

---

The Electric Network.com, Inc.
  (A Development Stage Company) 
  Statement of Stockholders Deficit 
  From February 3, 1999 (Date of Inception) to December 31, 2003
  (Expressed in U.S. dollars)

|                                                   |              |  |         |  | Additional |  |          |  |              |  |          |   |          |  
|-------------------------------------------------- | ------------ |  | ------- |  | ---------- |  | -------- |  | ------------ |  | -------- | - | -------- | -
|                                                   | Common Stock |  | Paid-In |  | Donated    |  | Deferred |  | Development  |  |          |  
|                                                   | Shares       |  | Amount  |  | Capital    |  | Capital  |  | Compensation |  | Stage    |   | Total    |  
|                                                   | #            |  | $       |  | $          |  | $        |  | $            |  | $        |   | $        |  
|Balance  February 3, 1999 (Date of                |              |  |         |  |            |  |          |  |              |  |          |   |          |  
|Inception)                                         |             |  |        |  |           |  |         |  |              |  |         |   |         |  
|Stock issued for cash
      pursuant to a          |              |  |         |  |            |  |          |  |              |  |          |   |          |  
|Regulation D, Rule 504
      offering at $ 0.001   |              |  |         |  |            |  |          |  |              |  |          |   |          |  
|per share                                          | 10,000,000   |  | 10,000  |  |           |  |         |  |             |  |         |   | 10,000   |  
|Value of services and
      overhead donated       |              |  |         |  |            |  |          |  |              |  |          |   |          |  
|by a related party                                 |             |  |        |  |           |  | 3,300    |  |              |  |         |   | 3,300    |  
|Net loss for the period                            |             |  |        |  |           |  |         |  |              |  | (8,014   | ) | (8,014   | )
|                                                   |              |  |         |  |            |  |          |  |              |  |          |   |          |  
|Balance  December 31, 1999                        | 10,000,000   |  | 10,000  |  |           |  | 3,300    |  |             |  | (8,014   | ) | 5,286    |  
|Value of services and
      overhead donated       |              |  |         |  |            |  |          |  |              |  |          |   |          |  
|by a related party                                 |             |  |        |  |           |  | 3,600    |  |             |  |         |   | 3,600    |  
|Net loss for the year                              |             |  |        |  |           |  |          |  |             |  | (7,804   | ) | (7,804   | )
|                                                   |              |  |         |  |            |  |          |  |              |  |          |   |          |  
|Balance  December 31, 2000                        | 10,000,000   |  | 10,000  |  |           |  | 6,900    |  |             |  | (15,818  | ) | 1,082    |  
|Value of services and
      overhead donated       |              |  |         |  |            |  |          |  |              |  |          |   |          |  
|by a related party                                 |             |  |        |  |           |  | 3,600    |  |             |  |         |   | 3,600    |  
|Net loss for the year                              |             |  |        |  |           |  |         |  |             |  | (5,194   | ) | (5,194   | )
|                                                   |              |  |         |  |            |  |          |  |              |  |          |   |          |  
|Balance  December 31, 2001                        | 10,000,000   |  | 10,000  |  |           |  | 10,500   |  |              |  | (21,012  | ) | (512     | )
|Stock issued for cash,
      net of offering costs | 600,000      |  | 600     |  | 33,400     |  |         |  |              |  |         |   | 34,000   |  
|Value of services and
      overhead donated       |              |  |         |  |            |  |          |  |              |  |          |   |          |  
|by a related party                                 |             |  |        |  |           |  | 3,600    |  |              |  |         |   | 3,600    |  
|Net loss for the year                              |             |  |        |  |           |  |         |  |              |  | (43,142  | ) | (43,142  | )
|                                                   |              |  |         |  |            |  |          |  |              |  |          |   |          |  
|Balance  December 31, 2002                        | 10,600,000   |  | 10,600  |  | 33,400     |  | 14,100   |  |              |  | (64,154  | ) | (6,054   | )
|Stock issued for services
      rendered during    |              |  |         |  |            |  |          |  |              |  |          |   |          |  
|the current year and
      the following year      | 8,000,000    |  | 8,000   |  | 72,000     |  |         |  |              |  |         |   |          |  
|Common stock issued,
      net of offering         |              |  |         |  |            |  |          |  |              |  |          |   |          |  
|costs of $2,053                                    | 203,000      |  | 203     |  | 48,494     |  |         |  |              |  |         |   | 48,697   |  
|Value of services and
      overhead donated       |              |  |         |  |            |  |          |  |              |  |          |   |          |  
|by a related party                                 |             |  |        |  |           |  | 1,300    |  |              |  |         |   | 1,300    |  
|Amortization of deferred
      stock               |              |  |         |  |            |  |          |  |              |  |          |   |          |  
|compensation                                       |             |  |        |  |           |  |         |  |              |  |         |   | 73,333   |  
|Net loss for the year                              |             |  |        |  |           |  |         |  |             |  | (109,250 | ) | (109,250 | )
|                                                   |              |  |         |  |            |  |          |  |              |  |          |   |          |  
|Balance  December 31, 2003                        | 18,803,000   |  | 18,803  |  | 153,894    |  | 15,400   |  |              |  | (173,404 | ) | 8,026    |  

(The accompanying notes are an integral part of the financial statements.)

F - 5

---

The Electric Network.com, Inc.
  (A Development Stage Company) 
  Notes to the Financial Statements
  (Expressed in U.S. dollars)

1.           Development
  Stage Company

The Electric Network.com, Inc. herein (the Company)
  was incorporated in the State of Nevada, U.S.A. on February 3, 1999. The Company
  is in the business of transacting information, introductions or any items of
  barter through a search and find based Web Site designed to link
  parties who are offering items or services for sale or seeking items or services
  for purchase. The Web Site will differ from other online auction sites by not
  relying solely on the exchange of goods, as it will facilitate the exchange
  of anything with a perceived value. Users of the Web Site will be able to browse
  through listed items in a fully automated, topically-arranged, and easy-to-use
  online service that will be available twenty-four hours a day, seven days a
  week. The Web Site will generate revenue by charging a nominal listing fee to
  both the sell and the buy side of a transaction and by receiving a percentage
  of the final sale price. The Company will provide its customers with e-mail
  services, sales force automation, customer relationship management and document
  management and portals for employees, customers and suppliers.

The Company is in the early development stage. In a development
  stage company, management devotes most of its activities in developing a market
  for its products and services. Planned principal activities have not yet begun.
  The ability of the Company to emerge from the development stage with respect
  to any planned principal business activity is dependent upon its successful
  efforts to raise additional equity financing and/or attain profitable operations.
  There is no guarantee that the Company will be able to raise any equity financing
  or sell any of its products and services at a profit. There is substantial doubt
  regarding the Companys ability to continue as a going concern.

In December 2003 the Company received cash proceeds of $48,697,
  net of offering costs, pursuant to a private placement memorandum of restricted
  common shares. The Company plans to file a SB-2 Registration Statement with
  the United States Securities and Exchange Commission relating to these common
  shares.

2.           Summary
  of Significant Accounting Policies

(a)          Year
  End

The Companys fiscal year end is December 31.

(b)          Cash
  and Cash Equivalents

The Company considers all highly liquid instruments with a maturity
  of three months or less at the time of issuance to be cash equivalents.

(c)          Use
  of Estimates

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

F - 6

---

The Electric Network.com, Inc.
  (A Development Stage Company) 
  Notes to the Financial Statements
  (Expressed in U.S. dollars)

2.           Summary
  of Significant Accounting Policies (continued)

(d)          Comprehensive
  Loss

The Company applies SFAS No. 130 Reporting Comprehensive Income.
  As at December 31, 2003, the company has no items that represent comprehensive
  loss and, therefore, has not included a schedule of comprehensive loss in the
  financial statements.

(e)          Fair Value
  of Financial Instruments

The carrying amounts of the Companys financial instruments, which include
  cash equivalents, accounts payable, accrued expenses and advances to related
  parties, approximate their fair value.

(f)           Net Loss
  Per Share

The Company computes net loss per share in accordance with SFAS No. 128, Earning
  per Share (SFAS 128). SFAS 128 requires presentation of both basic and
  diluted net loss per share (EPS) on the face of the income statement. Basic
  net loss per share is computed by dividing the net loss for the year by the
  weighted average number of shares of common stock outstanding during the year.
  Diluted net loss per share is computed by dividing the net loss for the year
  by the weighted average number of shares of common stock and potential common
  stock outstanding during the year, if dilutive.

(g)           Revenue
  Recognition

The Company will receive and recognize revenue as users list items for sale
  and also when items are purchased on the website. Users will be obligated to
  pay a listing fee for their items to be placed in the auction directory. This
  fee is determined by the price of a respective item, with larger priced items
  reflecting larger listing fees. When an item is sold through the auction website,
  the buyer must pay a premium in the form of a percentage of the final sale price
  with a higher premium for a higher priced item. The listing fee will be recognized,
  rateably over the estimated period of the auction and commission revenue will
  be recognized at the time a transaction is successfully completed. This policy
  is prospective in nature, as the Company has not yet generated any revenues.

(h)           Stock-Based
  Compensation

The Company does not have a stock option plan, however, issues stock to non-employees
  for services. The company accounts for stock issued for services to non-employees
  in accordance with SFAS No. 123 Accounting for Stock-Based Compensation.
  Compensation expense is based on the fair market value of the stock award or
  fair market value of the good and services received whichever is more reliably
  measurable.

F - 7

---

The Electric Network.com, Inc.
  (A Development Stage Company) 
  Notes to the Financial Statements
  (Expressed in U.S. dollars)

2.           Summary
  of Significant Accounting Policies (continued)

(i)          Recent Accounting
  Pronouncements

In May 2003, the FASB issued SFAS No. 150, Accounting for Certain Financial
  Instruments with Characteristics of both Liabilities and Equity. SFAS
  No. 150 establishes standards for how an issuer classifies and measures certain
  financial instruments with characteristics of both liabilities and equity. It
  requires that an issuer classify a financial instrument that is within its scope
  as a liability (or an asset in some circumstances). The requirements of SFAS
  No. 150 apply to issuers classification and measurement of freestanding
  financial instruments, including those that comprise more than one option or
  forward contract. SFAS No. 150 does not apply to features that are embedded
  in a financial instrument that is not a derivative in its entirety. SFAS No.
  150 is effective for financial instruments entered into or modified after May
  31, 2003, and otherwise is effective at the beginning of the first interim period
  beginning after June 15, 2003, except for mandatory redeemable financial instruments
  of nonpublic entities. It is to be implemented by reporting the cumulative effect
  of a change in an accounting principle for financial instruments created before
  the issuance date of SFAS No. 150 and still existing at the beginning of the
  interim period of adoption. Restatement is not permitted. The adoption of this
  standard did not have a material effect on the Companys results of operations
  or financial position.

In December 2002, the FASB issued SFAS No. 148, "Accounting for Stock-Based
  Compensation Transition and Disclosure," which amends SFAS No. 123 to
  provide alternative methods of transition for a voluntary change to the fair
  value based method of accounting for stock-based employee compensation. In addition,
  SFAS No. 148 expands the disclosure requirements of SFAS No. 123 to require
  more prominent disclosures in both annual and interim financial statements about
  the method of accounting for stock-based employee compensation and the effect
  of the method used on reported results. The transition provisions of SFAS No.
  148 are effective for fiscal years ended after December 15, 2002. The disclosure
  provisions of SFAS No. 148 are effective for financial statements for interim
  periods beginning after December 15, 2002. The Company adopted SFAS No. 148
  on January 1, 2003. The adoption of this standard did not have a material effect
  on the Companys financial position and results of operations.

FASB has also issued SFAS No. 149 but it did not have any relationship to the
  operations of the Company therefore a description of its impact on the Companys
  operations has not been disclosed.

3.           Related
  Party Transactions/Balances

(a)         The business plan the
  Company currently intends to exploit was developed by the former President on
  behalf of the Company. There was no charge to the Company for these services
  valued at $200 per month. The donated services were discontinued effective February
  1, 2003 since common shares were issued as compensation (see Note 5(a)). This
  related party also paid for rent and office costs valued at $100 per month for
  eleven months during the current year. These donated services and overhead are
  treated as donated capital and charged to operations.

F - 8

---

The Electric Network.com, Inc.
  (A Development Stage Company) 
  Notes to the Financial Statements
  (Expressed in U.S. dollars)

3.           Related
  Party Transactions/Balances (continued)

(b)          The advances
  payable includes $5,100 due to the former President of the Company and is unsecured,
  non-interest bearing and payable on demand. A company controlled by the former
  President advanced $10,000 to the Company during the year for working capital
  purposes. The amount is unsecured and bears non-compounded interest of 5% per
  annum and is due on July 9, 2004. The promissory note is convertible, at the
  holder's option, into common shares of the Company at a price to be determined.

(c)          Consulting
  expense for the year ended December 31, 2003 includes $73,333 of stock-based
  compensation related to the Companys issuance of common stock to the former
  President and also to a related party of the Company for consulting services
  (see Note 5(a)).

4.           Commitments

(a)          Effective December
  2, 2003 the Company entered into a month-to-month premises lease in Vancouver,
  B.C. at a rate of CAD$175 per month.

(b)          Effective January
  1, 2003 the Company terminated a month-to-month financial services contract
  with an arms-length company. The Company had received financial services of
  $2,000 per month plus reimbursement of out of pocket expenses.

5.           Common
  Shares

(a)         The Board of Directors
  approved the issuance of 8,000,000 common shares for consulting services to
  be provided by the Companys former President and a related party. The
  consulting services, with a fair value of $80,000, are to be provided for a
  term of 12 months from February 1, 2003 through January 31, 2004. The Company
  has recorded $73,333 of stock-based compensation expense related to this issuance
  for the year ended December 31, 2003 with the balance of $6,667 deferred to
  the following year.

(b)         In December 2003 the Company
  issued 203,000 restricted common shares pursuant to a private placement memorandum.
  The Company raised cash proceeds of $48,697, net of offering costs of $2,053,
  and plans to file an SB-2 Registration Statement with the United Securities
  and Exchange Commission relating to these shares.

6.           Accrued
  Liabilities

The amount accrued at year end relates to $7,705 in professional fees and
  $250 of accrued interest expense.

F - 9

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The Electric Network.com, Inc.
  (A Development Stage Company) 
  Notes to the Financial Statements
  (Expressed in U.S. dollars)

7.           Income
  Tax

Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company has adopted Statement of Financial Accounting Standards No. 109 (SFAS 109) as of its inception. The Company
has incurred net operating losses of $85,000, which expire starting in 2014. Pursuant to SFAS 109 the Company is required to compute tax asset benefits for net operating losses carried forward. Potential benefit of net operating losses have not been
recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years.

The components of the net deferred tax asset at December 31, 2003 and 2002, and the statutory tax rate, the effective tax rate and the elected amount of the valuation allowance are scheduled below:

|                       | 2003    |   | 2002    |  
|---------------------- | ------- | - | ------- | -
|                       | $       |   | $       |  
|Net Operating Loss     | 34,438  |   | 39,721  |  
|Statutory Tax Rate     | 34%     |   | 34%     |  
|Effective Tax Rate     |        |   |        |  
|Deferred Tax Asset     | 11,709  |   | 13,505  |  
|Valuation Allowance    | (11,709 | ) | (13,505 | )
|                       |         |   |         |  
|Net Deferred Tax Asset |        |   |        |  

F - 10

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

>From inception to date, our principal accountant has been Manning Elliot, Chartered Accountants, of Vancouver, British Columbia. The firm's report for the period from inception to December 31, 2003 did not contain any adverse opinion or disclaimer,
nor were there any disagreements between management and our principal accountants.

ITEM 8A. CONTROLS AND PROCEDURES

Within 90 days prior to the date of this Form 10-KSB, we carried out an evaluation, under the supervision and with the participation of our Treasurer (Chief Financial Officer) and Secretary, of the effectiveness of the design and operation of our
disclosure controls and procedures pursuant to Exchange Act Rule 13a-14.  Based upon that evaluation, our Treasurer (Chief Financial Officer) and Secretary concluded that our disclosure controls and procedures are effective in timely alerting him to
material information relating to us required to be included in this Form 10-KSB.

There have been no significant changes in our internal controls or in other factors, which could significantly affect the internal controls subsequent to the date we carried out our evaluation.

PART III

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

Officers and Directors

Each of our directors is elected by stockholders to a term of one year and serves until his or her successor is elected and qualified. Each of our officers is elected by the board of directors to a term of one year and serves until his or her
successor is duly elected and qualified, or until he is removed from office. Our board of directors has no nominating, auditing or compensation committees.

The names, addresses, ages and positions of our present officers and directors are set forth below:

|Full Name and Resident | Age | Positions                   | Date Appointed  
|---------------------- | --- | --------------------------- | ----------------
|Address                |     |                             | Director        
|Brad W. Rudover        | 27  | President , Chief Executive | January 27, 2004
|                       |     | Officer and a Director      |                 
|J. David Brow          | 38  | Treasurer (Chief Financial  | May, 2002       
|                       |     | Officer), Secretary and a   |                 
|                       |     | Director                    |                 

The persons named above have held their offices/positions since the date of appointment and are expected to hold their offices/positions until the next annual general meeting of our stockholders.

Background of Officers and Directors

Mr. Rudover has served as President of Innovative Breakthroughs (I.B.), a computer consulting business located in Bellingham, Washington since 1998. In addition, Mr. Rudover has served as a Logistics/IT Manager with Davis Trading & Supply Ltd.
in Vancouver since April 2003. Mr. Rudover was also a director of Second Stage Ventures Inc., a Nevada corporation engaged in the business of providing online trivia games the shares of which are listed on the Over-the-Counter Bulletin Board
operated by NASDR, Inc. under the symbol SSVT, until November 2003. Mr. Rudover holds a B.Sc. (Small Business Management) from Ferris State University in Big Rapids, Michigan.

Mr. Brow graduated from the University of British Columbia in 1990 with a Bachelor of Arts Degree. Upon graduating, Mr. Brow completed both the Canadian Securities course and the Registered Representative exams for

17

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licensing as a Securities trader and financial advisor. From June 1995 to May 1996, Mr. Brow consulted to Syncronys Softcorp a computer software manufacturer, and oversaw the running of their Canadian operations. In 1996 Mr. Brow formed Willow Run
Software Marketing Inc., a high tech Sales and Marketing consulting firm that worked with numerous software manufacturers, both public and private. Consulting services included product and market analyses, product launch programs, marketing
initiatives and sales strategies. In 1999 Mr. Brow formed another high tech consulting firm, Point of Presence Marketing Inc. This firm concentrated on emerging technology sectors and assisted companies with all aspects of the sales, marketing and
launch process including funding issues. Point of Presence Marketing was purchased by EDventure Capital Inc. in October 2000 where Mr. Brow was a director until April 2002. Mr. Brow presently resides in Los Angeles, California and acts as a
management consultant to US based technology companies.

To the knowledge of management, during the past five years, no present or former director, executive officer or person nominated to become a director or an executive officer of the Company:

- was a general partner or executive officer of any business against which
    a bankruptcy petition was filed, either at the time of the bankruptcy or within
    two years prior to that time;
- was convicted of a criminal proceeding or was subject to a pending criminal
    proceeding (excluding traffic violations and other minor offenses);
- was subject to any order, judgment, or decree, not subsequently reversed,
    suspended or vacated, of any court of competent jurisdiction, permanently
    or temporarily enjoining, barring, suspending or otherwise limiting his involvement
    in any type of business, securities or banking activities; or
- was found by a court of competent jurisdiction (in a civil action) , the
    Commission or the Commodity Futures Trading Commission to have violated a
    federal or state securities or commodities law, and the judgment has not been
    reversed, suspended, or vacated.

Audit Committee Financial Expert

We do not have an audit committee or an audit committee financial expert. We do not have an audit committee because of our limited operations to date. We do not have an audit committee financial expert because we believe the costs related to
retaining a financial expert at this time are prohibitive in relation to the state of development of our business. Further, because we have limited operations at the present time, we believe the services of a financial expert are not warranted.

Compliance with Section 16 (a) of the Exchange Act

The Company knows of no director, officer, beneficial owner of more than ten percent of any class of equity securities of the Company registered pursuant to Section 12 ("Reporting Person") that failed to file any reports required to be furnished
pursuant to Section 16(a).

Code of Ethics

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

ITEM 10. EXECUTIVE COMPENSATION

Our directors have not been compensated for their services and there are no plans to compensate them in the near future until such time as we generate sufficient revenue to do so.

18

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Compensation of Directors

During the fiscal years ended December 31, 2002 and 2001, we did not pay our directors for any meetings

Executive Compensation

The following table sets forth the total compensation paid or accrued by us for the three years ended December 31, 2002 on behalf of each of our named executive officers.

Summary Compensation Table

The following table sets forth information with respect to stock options to purchase common stock granted to our named executive officers during the fiscal year ended December 31, 2003.

SUMMARY COMPENSATION TABLE

|                            |      | ANNUALCOMPENSATION | LONG TERM COMPENSATION
|--------------------------- | ---- | ------------------ | ----------------------
|                            |      |                    | Awards                
|                            |      |                    |                       
|                            |      |                    |                       
|Name and Principal Position | Year | Salary             | Bonus                 
|                            |      | ($)                | ($)                   
|                            |      |                    |                       
|Stephen Hanson(1)           | 2003 | Nil                | Nil                   
|President and director      | 2002 | Nil                | Nil                   
|                            | 2001 | Nil                | Nil                   

|(1) | Resigned as President and as director January 27, 2004.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(2) | Pursuant to the terms of a management service agreement with
      Stephen Hanson dated February 1, 2003 we issued to Mr. Hanson 4,000,000
      shares of our common stock at deemed price of $0.01 per share in exchange
      for management and business development services to be rendered to us valued
      at $40,000. The services were rendered during the period beginning on February
      1, 2003 and ending on January 1, 2004. Accordingly, we recorded a stock-based
      compensation expense related to this issuance for the year ended December
      31, 2003 of $36,667 with the balance of $3,333 deferred to the following
      year.

Option Grants in Last Fiscal Year

No options have been granted to any officer or director.

Employment Agreements with Executive Officers

Pursuant to the terms of a Management Services Agreement with Brad Rudover, our President, Chief Executive Officer and director dated January 27, 2004 we have agreed to pay Mr. Rudover the sum of $1,000 per month.

Pursuant to the terms of a Management Services Agreement with J. David Brow, our Treasurer (Chief Financial Officer), Secretary and director dated February 1, 2003 we issued to Mr. Brow 4,000,000 shares of our common stock at deemed price of $0.01
per share in exchange for management and business development services to be rendered to us valued at $40,000. The services were rendered during the period beginning on February 1, 2003 and ending on January 1, 2004.

Other than the foregoing, we have no employment agreements with any officers or directors.

Stock Option Plans

We have never established any form of stock option plan. We have not granted any options or stock appreciation rights. We do not have a long-term incentive plan nor do we have a defined benefit, pension plan, profit sharing or other retirement plan.

19

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

The following table sets forth, as of the date of this report, the total number of shares owned beneficially by the present owners of 5% or more of our total outstanding shares. Unless otherwise stated, the stockholders listed below have direct
ownership of their shares and possess sole voting and dispositive power with respect to their shares:

The persons named below may be deemed to be parents and promoters of our company within the meaning of such terms under the Securities Act of 1933, as amended, by virtue of his/its direct and indirect stock holdings.

|Title of Class | Name and Address of       | Amount and Nature of   | Percent of Class
|-------------- | ------------------------- | ---------------------- | ----------------
|               | Beneficial Owner          | Beneficial Ownership   |                 
|               |                           |                        |                 
|Common Stock   | Brad W. Rudover           | 4,500,000              | 23.93%          
|               | 205  680 East 8th Avenue | Direct                 |                 
|               | Vancouver, BC             |                        |                 
|               | V5T 1T1                   |                        |                 
|               |                           |                        |                 
|Common Stock   | J. David Brow             | 4,000,000              | 21.27%          
|               | 421 9thSt. Manhatten      | Direct                 |                 
|               | Beach, California 90266   |                        |                 
|               |                           |                        |                 
|Common Stock   | Stephen G. Hanson         | 1,440,000              | 7.66%           
|               | 3194 Allan Road           | Direct and Indirect(1) |                 
|               | North Vancouver, BC       |                        |                 
|               | V7J 3C5                   |                        |                 
|               |                           |                        |                 
|Common Stock   | Caroline Hanson           | 1,440,000              | 7.66%           
|               | 3194 Allan Road           | Direct and Indirect(1) |                 
|               | North Vancouver, BC       |                        |                 
|               | V7J 3C5                   |                        |                 

|(1) | Caroline Hanson, who owns 950,000 shares of our common stock, is the spouse
      of Stephen Hanson, who owns 490,000 shares of our common stock. Therefore,
      each beneficially owns 1,440,000 shares of our common stock.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The following table sets forth, as of the date of this report, the total number
  of shares owned beneficially by each of our directors, officers and key employees,
  individually and as a group. Unless otherwise stated, the stockholders listed
  below have direct ownership of their shares and possess sole voting and dispositive
  power with respect to their shares:

|Title of Class | Name and Address of             | Amount and Nature of | Percent of Class
|-------------- | ------------------------------- | -------------------- | ----------------
|               | Beneficial Owner                | Beneficial Ownership |                 
|               |                                 |                      |                 
|Common Stock   | Brad W. Rudover                 | 4,500,000            | 23.93%          
|               | 205  680 East 8th
      Avenue | Direct               |                 
|               | Vancouver, BC                   |                      |                 
|               | V5T 1T1                         |                      |                 
|               |                                 |                      |                 
|Common Stock   | J. David Brow                   | 4,000,000            | 21.27%          
|               | 421 9thSt. Manhatten            | Direct               |                 
|               | Beach, California 90266         |                      |                 
|               |                                 |                      |                 
|Common Stock   | All Officers and Directors,     | 9,500,000            | 45.20%          
|               | as a group                      |                      |                 

20

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ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

Pursuant to the terms of a management service agreement dated February 1, 2003
  with Stephen Hanson, our former President and director, we issued to Mr. Hanson
  4,000,000 shares of our common stock at deemed price of $0.01 per share in exchange
  for management and business development services to be rendered to us valued
  at $40,000. The services were rendered during the period beginning on February
  1, 2003 and ending on January 1, 2004.

Pursuant to the terms of a Management Services Agreement dated February 1,
  2003 with J. David Brow, our Treasurer (Chief Financial Officer), Secretary
  and director we issued to Mr. Brow 4,000,000 shares of our common stock at deemed
  price of $0.01 per share in exchange for management and business development
  services to be rendered to us valued at $40,000. The services were rendered
  during the period beginning on February 1, 2003 and ending on January 1, 2004.

**PART IV**

ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K

(a)          Exhibits

|Exhibit No.        | Document Description                                                                                                                           
|------------------ | -----------------------------------------------------------------------------------------------------------------------------------------------
|                   |                                                                                                                                                
|Exhibit 3.1(1)     | Articles of Incorporation                                                                                                                      
|                   |                                                                                                                                                
|Exhibit 3.2(1)     | Bylaws                                                                                                                                         
|                   |                                                                                                                                                
|Exhibit
      10.1 | Management Services Agreement
        between The Electric Network.com, Inc. and J. David Brow dated February
        1, 2003.                 
|                   |                                                                                                                                                
|Exhibit
      10.2 | Management Services Agreement
        between The Electric Network.com, Inc. and Brad W. Rudover dated January
        27, 2004.               
|                   |                                                                                                                                                
|Exhibit 10.3       | Shareholder Rights Agreement
        between The Electric Network.com, Inc. and Jackie Grad dated December
        2, 2003.                    
|                   |                                                                                                                                                
|Exhibit 10.4       | Shareholder Rights Agreement
        between The Electric Network.com, Inc. and John Pattison Wright dated
        December 2, 2003.           
|                   |                                                                                                                                                
|Exhibit 10.5       | Shareholder Rights Agreement
        between The Electric Network.com, Inc. and Gloria M. Lozinski dated December
        2, 2003.             
|                   |                                                                                                                                                
|Exhibit 10.6       | Shareholder Rights Agreement
        between The Electric Network.com, Inc. and Rodeny L. Lozinski dated December
        2, 2003.             
|                   |                                                                                                                                                
|Exhibit 10.7       | Shareholder Rights Agreement
        between The Electric Network.com, Inc. and G. Roger Douville dated December
        2, 2003.              
|                   |                                                                                                                                                
|Exhibit 10.8       | Shareholder Rights Agreement
        between The Electric Network.com, Inc. and Janis D. Douville dated December
        2, 2003.              
|                   |                                                                                                                                                
|Exhibit 10.9       | Shareholder Rights Agreement
        between The Electric Network.com, Inc. and Muir Woods Investment Group
        IBC dated December 2, 2003.
|                   |                                                                                                                                                
|Exhibit 10.10      | Shareholder Rights Agreement
        between The Electric Network.com, Inc. and Janice Stevens dated December
        2, 2003.                 
|                   |                                                                                                                                                
|Exhibit 10.11      | Shareholder Rights Agreement
        between The Electric Network.com, Inc. and Richard A. Achron dated December
        2, 2003.              
|                   |                                                                                                                                                
|Exhibit 10.12      | Shareholder Rights Agreement
        between The Electric Network.com, Inc. and George Stubos dated December
        2, 2003.                  
|                   |                                                                                                                                                
|Exhibit 10.13      | Shareholder Rights Agreement
        between The Electric Network.com, Inc. and Dorian Thodos dated December
        2, 2003.                  
|                   |                                                                                                                                                
|Exhibit 10.14      | Shareholder Rights Agreement
        between The Electric Network.com, Inc. and Iris Paul dated December 2,
        2003.                      

21

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|Exhibit 10.15 | Form of Subscription Agreement
        utilized in connection with the December 2003 private placement of The
        Electric Network.com, Inc.
|------------- | ------------------------------------------------------------------------------------------------------------------------------------------------
|              |                                                                                                                                                 
|Exhibit 31.1  | Certificate pursuant to Section
        302 of the Sarbanes-Oxley Act of 2002.                                                                  
|              |                                                                                                                                                 
|Exhibit 31.2  | Certificate pursuant to Section
        302 of the Sarbanes-Oxley Act of 2002.                                                                  
|              |                                                                                                                                                 
|Exhibit 32.1  | Certificate pursuant to Section
        906 of the Sarbanes-Oxley Act of 2002.                                                                  

|(1) | Incorporated by reference to same exhibit filed with
        the Companys Form 10SB Registration Statement filed June 27, 2002,
        SEC file no. 000-49891.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------

(b)          Reports on Form 8-K
  filed during the year ended December 31, 2003:

|Form 8-K | Private Placement, December 30, 2003. This reported on the issuance of
      203,000 shares of our common stock at a price of US$0.25 per share for gross
      proceeds to us of US$50,750. For details pertaining to the private placement
      refer to the Companys Current Report filed on Form 8-K dated December
      30, 2003 which can be viewed on the Securities and Exchange Commission website
      (SEC file no. 000-49891).
|-------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES

Our independent auditor, Manning Elliott, Chartered Accountants, billed an aggregate of $2,950 for the year ended December 31, 2002 and $4,700 for the year ended December 31, 2003 for professional services rendered for the audit of our annual
financial statements and review of the financial statements included in our quarterly reports. Other than $500 paid to our independent auditor for preparing and filing our 2002 and 2003 tax returns, our independent auditor has not billed us for any
audit-related fees, tax fees or other fees for the past two fiscal years.

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

22

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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.

THE ELECTRIC NETWORK.COM, INC.

By /s/ Brad W. Rudover
  Brad W. Rudover 
  President (Principal Executive Officer) and Director

Date: April 1, 2004

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

By /s/ Brad W. Rudover
  Brad W. Rudover 
  President (Principal Executive Officer) and Director

Date: April 1, 2004

By /s/ J. David Brow
  J. David Brow 
  Treasurer (Chief Financial Officer) Secretary and Director

Date: April 1, 2004

Supplemental information to be Furnished With Reports Filed Pursuant to Section 15(d) of the Exchange Act By Non-reporting Issuers

The registrant has not prepared nor has it distributed an annual report or proxy material to security holders during the fiscal year 2003.

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