UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                               AMENDMENT NO. 1 TO

                                   FORM 10-KSB





[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934  For the fiscal year ended December 31, 2002
                                           -----------------

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
    EXCHANGE ACT OF 1934  For the transition period from           to
                                                        -----------  -----------

Commission File Number: 000-49891

                         The Electric Network.com, Inc.
                         ------------------------------
             (Exact name of registrant as specified in its charter)

Nevada                                                                33-0860242
------                                                               ----------
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
incorporation or organization)

#208-800 North Rainbow Boulevard, Las Vegas, Nevada                        89107
----------------------------------------------------------------- --------------
(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)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. [X] Yes  [ ] 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 registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10-KSB.


State issuer's revenues for its most recent fiscal year. $0

State the aggregate market value of the voting and non-voting common equity held
by non-affiliates computed by reference to the price at which the common equity
was sold, or the average bid and asked price of such common equity, as of a
specified date within the past 60 days. (See definition of affiliate in Rule
12b-2 of the Exchange Act.) As of April 29, 2003, approximately $0.

As of April 29, 2003, there were 10,600,000 shares of the issuer's $.001 par
value common stock issued and outstanding.

Documents incorporated by reference. There are no annual reports to security
holders, proxy information statements, or any prospectus filed pursuant to Rule
424 of the Securities Act of 1933 incorporated herein by reference.

Transitional Small Business Disclosure format (check one):

                         [ ] Yes             [X] No




                                       1
<PAGE>





                                     PART I

ITEM 1. DESCRIPTION OF BUSINESS.
--------------------------------

Our Background. We were incorporated in Nevada on February 3, 1999.

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. Specifically, we are developing our proposed website and software
to be used in the Seattle, Washington area such that only Seattle-area residents
will be able to participate in the online auctions we plan to host during our
first few months of operation. We plan to test our website to users in the
Seattle area. This will be done by clearly stating that only users in Seattle
and the surrounding areas will be allowed to register on our website. Along with
this disclaimer, we will also have the program designed such that it will not
allow anyone to register that submits a zip code outside of the Seattle area. We
believe that these precautionary measures will deter users from outside the
greater Seattle area from participating in our auctions. However, we also plan
to require successful bidders to provide evidence of residing in the greater
Seattle area. If not, we will then deny them from paying for or claiming their
item and that item will be put back up for auction at no additional expense to
the seller. While we propose to operate our business from Vancouver, where our
management is located, we anticipate targeting our initial services to the
Seattle area. We do not anticipate conducting any activities in Seattle, other
than offering our services by means of the internet. We also do not anticipate
utilizing any facilities in Seattle, and plan to collect and process any
revenues generated in Vancouver, British Columbia.

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 Seattle area with a computer and
Internet access and a need to buy or sell products or services. We have not yet
offered any services or products, and our online auction software technology is
not yet operational. Moreover, we anticipate that our website will not be
operational until the third quarter of 2003, and we may not be able to offer any
online auction listing services or generate revenue before that time. We
anticipate that our site 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 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.



                                       2
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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.

Once the testing of our online auction services in the Seattle area market has
been successful, we then hope to capitalize on what we believe to be the
increasingly global nature of the Internet marketplace by offering international
exposure to local markets. We are in the process of developing proprietary
technology that we anticipate will help expedite the exchange of goods and
services and concurrently creating a new niche market. We anticipate developing
an online auction software technology that will allow sellers to post items for
buyers to browse and bid on. Along with the exchange of goods on our proposed
website, we also intend to create 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.

The proprietary technology that we are developing is the software that we
anticipate using on our website. Once our software has been completed to our
specifications, we anticipate preparing for a soft launch of our website. We
anticipate that our 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
Seattle-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 Seattle is successful, we will then
attempt to expand our operations throughout Washington State and into Oregon. We
anticipate that expanding throughout 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 hire 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 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.



                                       3
<PAGE>




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 ever 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.

Based on our research, we believe that the best area to use as a test market for
our services is Seattle, Washington due to the large numbers of technology
companies located there, including Microsoft, Real Networks and Onvia. Along
with these technology companies, we believe that the city of Seattle
consistently ranks among the most connected cities in North America, and that
Seattle residents will be a more knowledgeable audience to test on. Should our
business prove to be successful in the Seattle area, we hope to eventually
partner with some of these large tech companies, though there is no guarantee we
will be able to do so. We believe that these companies could have an interest in
our technology, however we have not contacted any of these companies and do not
intend to do so in the near future. As a startup company, we believe that if we
work diligently and attract significant traffic to our website, opportunities to
work with other technology companies will arise.



                                       4
<PAGE>




We believe that both Microsoft and RealNetworks have the potential to play an
integral role in the development of a proposed streaming, live online auction
through the use of their respective media player products, Windows Media Player
and Real Player. These applications allow Internet users to view live, streaming
video and we believe that this technology will facilitate future online
auctions. If we were able to form a partnership with either of these companies,
this would help us develop what we believe to be the next step in the evolution
of the online auction format. Once we have developed a live, streaming auction
capability, we anticipate that our user base will grow, increasing the number of
transactions that our proposed website will be able to process. We anticipate
that an increase in this capability will in turn, allow us to generate more
revenues. Although developing a streaming auction format is one of our future
goals, this is currently not an integral part of our business. We may never
develop streaming technology due to the costs of bandwidth and hardware to
facilitate such an endeavor. However, the overall success of our business does
not rely on a relationship with either Microsoft or Real Networks.

In addition, we hope that Onvia would also be interested in partnering with us
since they currently provide information to businesses seeking such contracts.
For example, Onvia's website states that "The Onvia Guide is a customized daily
bulletin that delivers bid notices, request for quotes and contracting
opportunities - only new information every day." We believe that if Onvia
decided to use our service, we have a steady source of service items to include
on our site and we would be able to increase revenue by serving as the means by
which these items are sold. We have not had any contact with Onvia regarding the
potential of collaborating on any projects and we do not intend to do so until
we have evidence that our product is successful.

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 Seattle,
Washington 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 immediate
area by not listing our site with major search engines, except as a
Seattle-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 Seattle 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 into this type of arrangement
with FedEx.



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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 Seattle, Washington area.

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
Seattle, Washington 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.




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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 developing online auction 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. We expect that
our software will be database driven because of the volume of items that we
intend to list on our website. We expect that this database program will be able
to identify each new item entered with a unique tracking number, which we
believe will allow quick retrieval and easy tracking of the item. We expect this
software will also include a countdown feature attached to each item, which will
track when the auction ends and upon expiration, the entry can be moved to an
archive database, tracking the history of each user. We intend to make use of
open source tools such as Linux, Apache and MySQL to minimize development costs,
which we believe will allow us to allocate more of our budget to software
development. 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. Since July 2002, we have been developing the basic framework or
specifications for our software. We anticipate that we will have finished
developing these specifications by October 2002, after which we anticipate
distributing our software specifications to potential software developers, and
select one such developer to complete our software and our website. We
anticipate that our software and website project will take from eight to twelve
months to complete, though this timeframe is not certain and is subject to
change based on technological changes or difficulties or lack of funding on our
part. Therefore, we are unable to state with certainty when our proposed
software will be functional or complete.

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.

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.




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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 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.
--------------------------- ----------------------------------------------------

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.



                                       8
<PAGE>




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 Seattle based
business owners so that we can build our user base. As mentioned above, we are
targeting this area due to the amount of technology companies in the area. We
have no other connection to the Seattle area, nor do we have plans to open
offices, locate facilities or conduct our business from that area. We selected
Seattle as an optimum location to test and launch our services. 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 Seattle 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 Seattle area by featuring Seattle events and photos
on our website.

We expect that most of our initial development efforts will focus on building
our software as the core of our business. We anticipate that we will prepare a
detailed specifications document for a future contractor to create our software
to our exact requirements. We have not yet identified a particular internet and
web services company, nor have we decided whether the web hosting company we
select will be the company that eventually completes our proposed website or be
the company that we will choose to design our software. While the software is
being designed, we anticipate we will also begin researching the Seattle area
for strategic alliances. Through our research into the Seattle 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:




                                       9
<PAGE>




o    complete construction of our website and continuously upgrade our services;
o    generate high levels of interest and awareness in our name brand;
o    encourage consumers to visit our proposed website;
o    encourage repeat customers by rewarding customer loyalty;
o    study repeat purchasing patterns so that we can foster long-term
     relationships with customers; and
o    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.

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




                                       10
<PAGE>




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
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.




                                       11
<PAGE>




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 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 April 29, 2003, we had no employees, other than our officers.

Facilities.  Our corporate offices are located at #200-800 North Rainbow
Boulevard, Las Vegas, Nevada. We have a month-to-month lease for office space at
$99 per month. However, our management operates from Vancouver, British
Columbia.




                                       12
<PAGE>




ITEM 2.  DESCRIPTION OF PROPERTY.
---------------------------------

Property held by us. As of the dates specified in the following table, we held
the following property:

========================== ============================ ========================
         Property                 December 31, 2002         December 31, 2001
-------------------------- ---------------------------- ------------------------
   Cash and equivalents                $8,199                    $6,391
========================== ============================ ========================

We define cash equivalents as all highly liquid investments with a maturity of 3
months or less when purchased. We do not presently own any interests in real
estate. We do not presently own any inventory or equipment.

Our Facilities. Our corporate offices are located at #208-800 North Rainbow
Boulevard, Las Vegas, Nevada 89107. We have a month-to-month lease for office
space at $99 per month.

ITEM 3.  LEGAL PROCEEDINGS.
---------------------------

There are no legal actions pending against us nor are any legal actions
contemplated by us at this time.

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

Not applicable.

                                     PART II

ITEM 5.  MARKET PRICE FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.
------------------------------------------------------------------------

Reports to Security Holders. We are a reporting company with the Securities and
Exchange Commission, or SEC. The public may read and copy any materials filed
with the SEC at the SEC's Public Reference Room at 450 Fifth Street N.W.,
Washington, D.C. 20549. The public may also obtain information on the operation
of the Public Reference Room by calling the SEC at 1-800-SEC-0330. The SEC
maintains an Internet site that contains reports, proxy and information
statements, and other information regarding issuers that file electronically
with the SEC. The address of that site is http://www.sec.gov.

Common Stock. Our authorized capital stock consists of 100,000,000 shares of
$.001 par value common stock, of which 10,600,000 shares were issued and
outstanding as of April 29, 2003. Each shareholder of our common stock is
entitled to a pro rata share of cash distributions made to shareholders,
including dividend payments. The holders of our common stock are entitled to one
vote for each share of record on all matters to be voted on by shareholders.

Preferred Stock. Our Articles of Incorporation provide for our Board of
Directors to authorize Preferred Stock as they may determine from time to time.
As of April 29, 2003, there is no other class of authorized capital stock other
than common stock.

As of April 29, 2003, there were twenty-eight record holders of our common
stock.


There are 9,010,000 outstanding shares of our common stock which can be
sold pursuant to Rule 144 promulgated pursuant to the Securities Act of 1933.
Rule 144 provides, among other things, that persons holding restricted
securities for a period of one year may each sell, assuming all of the
conditions of Rule 144 are satisfied, in brokerage transactions every three
months an amount of restricted securities equal to one percent of our
outstanding shares of common stock, or the average weekly reported volume of
trading during the four calendar weeks preceding the filing of a notice of
proposed sale, which ever is more. Rule 144 also provides that, after holding
such securities for a period of two years, a nonaffiliate of the company may
sell those securities without restriction, other than the requirement that we
are current with respect to our information reporting requirements.

There are no outstanding options or warrants to purchase, or securities
convertible into, shares of our common stock.



                                       13
<PAGE>




There have been no cash dividends declared on our common stock. Dividends are
declared at the sole discretion of our Board of Directors.

Penny Stock Regulation. Shares of our common stock are subject to rules adopted
by the Securities and Exchange Commission that regulate broker-dealer practices
in connection with transactions in "penny stocks". Penny stocks are generally
equity securities with a price of less than $5.00 (other than securities
registered on certain national securities exchanges or quoted on the NASDAQ
system, provided that current price and volume information with respect to
transactions in those securities is provided by the exchange or system). The
penny stock rules require a broker-dealer, prior to a transaction in a penny
stock not otherwise exempt from those rules, deliver a standardized risk
disclosure document prepared by the Securities and Exchange Commission, which
contains the following:

o    a description of the nature and level of risk in the market for penny
     stocks in both public offerings and secondary trading;
o    a description of the broker's or dealer's duties to the customer and of the
     rights and remedies available to the customer with respect to violation to
     such duties or other requirements of securities' laws;
o    a brief, clear, narrative description of a dealer market, including "bid"
     and "ask" prices for penny stocks and the significance of the spread
     between the "bid" and "ask" price;
o    a toll-free telephone number for inquiries on disciplinary actions;
o    definitions of significant terms in the disclosure document or in the
     conduct of trading in penny stocks; and


Prior to effecting any transaction in penny stock, the broker-dealer also must
provide the customer the following:


o    the bid and offer quotations for the penny stock;
o    the compensation of the broker-dealer and its salesperson in the
     transaction;
o    the number of shares to which such bid and ask prices apply, or other
     comparable information relating to the depth and liquidity of the market
     for such stock; and
o    monthly account statements showing the market value of each penny stock
     held in the customer's account.

In addition, the penny stock rules require that prior to a transaction in a
penny stock not otherwise exempt from those rules, the broker-dealer must make a
special written determination that the penny stock is a suitable investment for
the purchaser and receive the purchaser's written acknowledgment of the receipt
of a risk disclosure statement, a written agreement to transactions involving
penny stocks, and a signed and dated copy of a written suitably statement. These
disclosure requirements may have the effect of reducing the trading activity in
the secondary market for a stock that becomes subject to the penny stock rules.
Holders of shares of our common stock may have difficulty selling those shares
because our common stock will probably be subject to the penny stock rules.

ITEM 6.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION 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
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
consolidated 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 them
consolidated financial statements included in our Annual Report on Form 10-KSB
for the fiscal year ended December 31, 2002.


                                       14
<PAGE>




For the fiscal year ending December 31, 2002 compared to the year ended December
31, 2001.

Liquidity and Capital Resources. Our only assets at December 31, 2002 were
represented by cash of $8,199, and prepaid expenses of $179, compared to assets
of $6,391 at December 31, 2001, which was represented solely by cash of that
amount. Our total liabilities were approximately $14,432 as of December 31,
2002, compared to $6,903 as of December 31, 2001. Our liabilities as of December
31, 2002 was represented by accounts payable of $1,532, accrued liabilities of
$7,800 and advances payable of $5,100. Our total liabilities of $6,903 as of
December 31, 2001, which comprised of accounts payable of $3, accrued
liabilities of $1,800 and advances payable of $5,100 to our president.

Operating Expenses. For the year ended December 31, 2002, our operating expenses
were $43,142, compared to the year ended December 31, 2001, for which our
operating expenses were $5,194. For the year ended December 31, 2002, these
expenses were represented by $6,750 for accounting and audit expenses, $1,200
for donated overhead, $2,400 for donated services, $4,248 for legal and
organizational expenses, $2,161 for office expenses, and $1,665 for transfer
agent expenses. This is compared to $5,194 for the year ended December 31, 2001,
which was represented by $600 for accounting and audit expenses, $1,200 for
donated overhead, $2,400 for donated services, $921 for legal and organizational
expenses and $73 for office expenses. During the year ended December 31, 2002,
our expenses increased to $43,142 largely due to incurring consulting expenses,
and increased legal and organization expenses. From our inception on February 3,
1999, to December 31, 2002, our operating expenses have been $64,154.

Results of Operations. For the year ended December 31, 2002, we realized no
revenue from operations. Our net loss for the year ended December 31, 2001 was
$43,142. This is compared to the year ended December 31, 2001, where our net
loss was $5,194. Our net loss from our inception on February 3, 1999 to December
31, 2002 was $64,154. We anticipate that we will begin realizing revenues after
we commence operations using our proposed website. 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.

Our Plan of Operation for the Next Twelve Months. As of December 31, 2002 we had
$8,199 in cash resources and $179 in prepaid expenses. We believe that our
current cash resources are not sufficient 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 should the
need arise. 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 auditors have expressed their doubt about our ability to continue operations
as a "going concern." Investors may lose all of their investment if we are
unable to continue operations. We hope to obtain revenues from future product
sales, but there is no commitment by any person for purchase of our services by
means of our proposed website. In the absence of significant sales and profits,
we may seek to raise additional funds to meet our working capital needs
principally through sales of our securities. Also, we believe that our officers
and directors will fund our operations if we are not able to locate another
source for those funds, although we hope that once our securities are
registered, this will improve our ability to raise funds through the sale of
equity securities. However, we cannot guaranty that we will be able to obtain
sufficient additional funds when needed, or that such funds, if available, will
be obtainable on terms satisfactory to us. As a result, our auditors believe
that substantial doubt exists about our ability to continue operations. The
presence of the "going concern" language in our financial statements may make it
more difficult for us to raise working capital. Our inability to raise capital
will hinder our ability to expand our operations and earn revenues.



                                       15
<PAGE>




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
$15,000.00 to market our services. Within the next twelve months, we must
complete the design and development of our website. We believe we need
approximately $30,000.00 to complete the design and development of our website.
We have hired a third party to complete the development of our website. In April
2002, we entered into a contract with an arm's length company for financial
services to be provided to us at a cost of $2,000 per month. We hope to be able
to commence operations and generate revenues by December 2003. Finally, we may
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 anticipate that our daily operations for the first year will mainly be
working with contractors to develop our software. Our management expects to
devote 30 to 40 hours per week working with our developers to help build the
software to our specifications. Aside from the software development we will also
devote much of our time to SEC requirements. As a public company we will have to
file various forms and this may take up a significant part of our operations.

We expect to use our current cash resources to pay the following expenses:
website development, legal and accounting and initial marketing expenses. 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 proposed
website development 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 990,000 shares of our common stock, which equals approximately 9.34% 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
-----------------------------




                                       16
<PAGE>



The Electric Network.com, Inc.
(A Development Stage Company)


                                                                         Index

Independent Auditor's Report...............................................F-1

Balance Sheets.............................................................F-2

Statements of Operations...................................................F-3

Statements of Cash Flows...................................................F-4

Statement of Stockholders' Equity..........................................F-5

Notes to the Financial Statements..........................................F-6





<PAGE>




[GRAPHIC OMITTED][GRAPHIC OMITTED]




                          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, 2002 and 2001 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, 2002 and the years ended December 31, 2002 and 2001. 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 U.S. generally accepted auditing
standards. 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, 2002 and 2001, and the results of
its operations and its cash flows accumulated for the period from February 3,
1999 (Date of Inception) to December 31, 2002 and the years ended December 31,
2002 and 2001, in conformity with U.S. generally accepted accounting principles.

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 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.





CHARTERED ACCOUNTANTS

Vancouver, Canada

March 17, 2003



                                      F-1
<PAGE>





The Electric Network.com, Inc.
(A Development Stage Company)
Balance Sheets

<TABLE>
<CAPTION>
<S>                                                                                  <C>                <C>
                                                                                 December 31,      December 31,
                                                                                     2002              2001
                                                                                       $                 $
Assets

Current Assets

Cash                                                                                  8,199             6,391
Prepaid expenses                                                                        179                 -
-------------------------------------------------------------------------------------------------------------------

Total Assets                                                                          8,378             6,391
-------------------------------------------------------------------------------------------------------------------

Liabilities and Stockholders' Equity (Deficit)

Current Liabilities

Accounts payable                                                                      1,532                 3
Accrued liabilities (Note 5)                                                          7,800             1,800
Advances payable (Note 3)                                                             5,100             5,100
-------------------------------------------------------------------------------------------------------------------

Total Liabilities                                                                    14,432             6,903
-------------------------------------------------------------------------------------------------------------------

Commitments (Note 4)

Stockholders' Equity (Deficit)


Common Stock, 100,000,000 common shares authorized with a par value of $0.001;
10,600,000 issued and outstanding                                                    10,600            10,000


Additional Paid in Capital, net of offering costs of $26,000                         33,400                 -


Donated Capital (Note 3)                                                             14,100            10,500
-------------------------------------------------------------------------------------------------------------------

                                                                                     58,100            20,500

Deficit Accumulated During the Development Stage                                    (64,154)          (21,012)
-------------------------------------------------------------------------------------------------------------------

Total Stockholders' Equity (Deficit)                                                 (6,054)             (512)
-------------------------------------------------------------------------------------------------------------------

Total Liabilities and Stockholders' Equity (Deficit)                                  8,378             6,391
-------------------------------------------------------------------------------------------------------------------
</TABLE>




                                     F-2
    (The accompanying notes are an inegral part of the financial statements)

<PAGE>



The Electric Network.com, Inc.
(A Development Stage Company)
Statements of Operations

<TABLE>
<CAPTION>
<S>                                                     <C>                                 <C>
                                                    Accumulated
                                                        From
                                                  February 3, 1999
                                                (Date of Inception)                      Years Ended
                                                  to December 31,                        December 31,
                                                        2002                      2002                 2001
                                                         $                          $                    $

Revenue                                                        -                          -                   -
--------------------------------------------------------------------------------------------------------------------


Expenses

Accounting and audit                                       8,550                      6,750                 600
Consulting                                                24,718                     24,718                   -
Donated overhead                                           4,700                      1,200               1,200
Donated services                                           9,400                      2,400               2,400
Legal and organizational                                  12,292                      4,248                 921
Office                                                     2,829                      2,161                  73
Transfer agent                                             1,665                      1,665                   -
--------------------------------------------------------------------------------------------------------------------

                                                          64,154                     43,142               5,194
--------------------------------------------------------------------------------------------------------------------

Net Loss for the Period                                  (64,154)                   (43,142)             (5,194)
--------------------------------------------------------------------------------------------------------------------


Basic Loss Per Share                                                                   0.00                0.00
--------------------------------------------------------------------------------------------------------------------


Weighted Average Shares Outstanding                                              10,400,000          10,000,000
--------------------------------------------------------------------------------------------------------------------
</TABLE>
(Diluted loss per share has not been presented, as the result is anti-dilutive)



                                       F-3
    (The accompanying notes are an inegral part of the financial statements)

<PAGE>




The Electric Network.com, Inc.
(A Development Stage Company)
Statements of Cash Flows

<TABLE>
<CAPTION>
<S>                                                            <C>                                <C>
                                                           Accumulated
                                                              From
                                                        February 3, 1999
                                                       (Date of Inception)                   Years Ended
                                                         To December 31,                    December 31,
                                                              2002                    2002              2001
                                                                $                       $                $


Cash Flows to Operating Activities

Net Loss for the Period                                       (64,154)                (43,142)         (5,194)

Adjustments to reconcile net loss to cash
Donated overhead                                                4,700                   1,200           1,200
Donated services                                                9,400                   2,400           2,400

Less non-cash working capital items
Increase in prepaid expense                                      (179)                   (179)              -
Increase (decrease) in accounts payable                         1,532                   1,529            (184)
Increase in accrued liabilities                                 7,800                   6,000             600
--------------------------------------------------------------------------------------------------------------------
Net Cash Used by Operating Activities                         (40,901)                (32,192)         (1,178)
--------------------------------------------------------------------------------------------------------------------
Cash Flows From Financing Activities

Proceeds from issuance of shares, net of
     offering costs                                            44,000                  34,000               -
Proceeds from related party advances                            5,100                       -               -
--------------------------------------------------------------------------------------------------------------------

Net Cash From Financing Activities                             49,100                  34,000               -
--------------------------------------------------------------------------------------------------------------------

Increase (Decrease) in Cash                                     8,199                   1,808          (1,178)

Cash - Beginning of Period                                          -                   6,391           7,569
--------------------------------------------------------------------------------------------------------------------

Cash - End of Period                                            8,199                   8,199           6,391
--------------------------------------------------------------------------------------------------------------------

Non-Cash Financing Activities                                       -                       -               -
--------------------------------------------------------------------------------------------------------------------
Supplemental Disclosures

Interest paid                                                       -                       -               -
Income tax paid                                                     -                       -               -

</TABLE>





                                       F-4
    (The accompanying notes are an inegral part of the financial statements)

<PAGE>






The Electric Network.com, Inc.
(A Development Stage Company)
Statement of Stockholders' Deficit
From February 3, 1999 (Date of Inception) to December 31, 2002

<TABLE>
<CAPTION>
<S>                                                            <C>              <C>           <C>          <C>          <C>
                                                                                                                      Deficit
                                                                                                                    Accumulated
                                                                              Additional                             During the
                                                         Common Stock          Paid-In     Donated                  Development
                                                      Shares       Amount      Capital     Capital       Total         Stage
                                                        #             $           $           $            $             $

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)
-----------------------------------------------------------------------------------------------------------------------------------

Balance - December 31, 1999                           10,000,000      10,000           -        3,300      13,300        (8,014)

Value of services and overhead donated by a
related party                                                                          -        3,600       3,600

Net loss for the year                                                                                                    (7,804)
-----------------------------------------------------------------------------------------------------------------------------------

Balance - December 31, 2000                           10,000,000      10,000           -        6,900      16,900       (15,818)

Value of services and overhead donated by a
related party                                                                          -        3,600       3,600

Net loss for the year                                                                                                    (5,194)
-----------------------------------------------------------------------------------------------------------------------------------

Balance - December 31, 2001                           10,000,000      10,000           -       10,500      20,500       (21,012)

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)
-----------------------------------------------------------------------------------------------------------------------------------

Balance - December 31, 2002                           10,600,000      10,600      33,400       14,100      58,100       (64,154)
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>




                                       F-5
    (The accompanying notes are an inegral part of the financial statements)

<PAGE>




The Electric Network.com, Inc.
(A Development Stage Company)
Notes to the Financial Statements


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 based in
     Las Vegas, Nevada, U.S.A. and 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.

     The Company raised $75,000 as start-up capital. On February 3, 1999, a
     total of $10,000 was raised by issuing 10,000,000 shares at $0.001 per
     share pursuant to a Regulation D, Rule 504 Offering. A total of $5,000 was
     originally raised pursuant to a loan from the President of the Company.

     In April 2002 the Company issued 600,000 shares at $0.10 per share for cash
     proceeds of $60,000 pursuant to a private placement memorandum. The
     Company's officers have committed to fund ongoing operations if the Company
     is unable to raise adequate financing. The Company filed a 10SB
     Registration Statement with the United States Securities and Exchange
     Commission during the year.


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) Revenue Recognition

         The Company will receive and recognize revenue as users post 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 the item, a
         larger priced item will reflect a larger listing fee. 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 and once again a higher
         percentage of the final sale price and once again a higher percentage
         will be charged for higher priced items. The listing fee and commission
         revenue will be recognized in the period the fee or commission is
         earned. This policy is prospective in nature, as the Company has not
         yet generated any revenues.



                                       F-6
<PAGE>



2.   Summary of Significant Accounting Policies (continued)

     (d) 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.

     (e) Comprehensive Loss

         The Company applies Financial Accounting Standards Board (FASB) SFAS
         No. 130 "Reporting Comprehensive Income". The comprehensive loss for
         the years ended December 31, 2002, 2001 and accumulated from the date
         of inception to December 31, 2002 does not differ from the reported
         loss.

     (f) 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.

     (g) 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.

     (h) Recent Accounting Pronouncements

         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 will adopt SFAS No. 148 on January 1,
         2003. The effect of adoption of this standard is not expected to have a
         material effect on the Company's financial position and results of
         operations.

         In June 2002, FASB issued SFAS No. 146, "Accounting for Costs
         Associated with Exit or Disposal Activities". The provisions of this
         Statement are effective for exit or disposal activities that are
         initiated after December 31, 2002, with early application encouraged.
         This Statement addresses financial accounting and reporting for costs
         associated with exit or disposal activities and nullifies Emerging
         Issues Task Force (EITF) Issue No. 94-3, "Liability Recognition for
         Certain Employee Termination Benefits and Other Costs to Exit an
         Activity (including Certain Costs Incurred in a Restructuring)". This
         Statement requires that a liability for a cost associated with an exit
         or disposal activity be recognized when the liability is incurred. The
         Company will adopt SFAS No. 146 on January 1, 2003. The effect of
         adoption of this standard currently does not have an impact on the
         Company's financial position and results of operations.

         FASB has also issued SFAS No. 145 and 147 but they will not have any
         relationship to the operations of the Company therefore a description
         of each and their respective impact on the Company's operations have
         not been disclosed.

                                      F-7
<PAGE>


3.   Related Party Transactions/Balances

     The business plan the Company currently intends to exploit was developed by
     the President of the Company on behalf of the Company. There was no charge
     to the Company for these services valued at $200 per month. This related
     party, at no cost to the Company, paid for rent and office costs valued at
     $100 per month. These services and costs are treated as donated capital and
     charged to operations.

     The advances payable of $5,100 are due to the President of the Company on
     an unsecured, non-interest bearing basis and is payable on demand.


4.   Commitments

     Effective April 1, 2002 the Company entered into month-to-month financial
     services contract with an arms length company. This company will provide
     financial services at a rate of $2,000 per month plus reimbursement of
     out-of-pocket expenses.

     Effective May 1, 2002 the Company entered into a month-to-month premises
     lease in Nevada at a rate of $99 per month.


5.   Accrued Liabilities

     Amounts accrued at year end relate to professional fees.


6.   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 $50,233, 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, 2002 and 2001,
     and the statutory tax rate, the effective tax rate and the elected amount
     of the valuation allowance are scheduled below:

                                              2002                 2001
                                               $                    $

Net Operating Loss                           39,721               1,594

Statutory Tax Rate                            34%                  34%

Effective Tax Rate                             -                    -

Deferred Tax Asset                           13,505                542

Valuation Allowance                         (13,505)              (542)
-------------------------------------------------------------------------------
Net Deferred Tax Asset                         -                    -
-------------------------------------------------------------------------------


                                      F-8

<PAGE>


The financial statements required by Item 7 are presented in the following
order:

ITEM 8.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS.
-------------------------------------------------------

There have been no changes in or disagreements with our accountants since our
formation required to be disclosed pursuant to Item 304 of Regulation S-B.

                                    PART III

ITEM 9.  DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS.
----------------------------------------------------------------------

Executive Officers and Directors.

The following table sets forth information regarding our executive officers and
directors as well as other key members of our management.




                                       17
<PAGE>




========================== =============== ====================================
Name                            Age        Position
-------------------------- --------------- ------------------------------------
Stephen Hanson                   36        President and a Director
-------------------------- --------------- ------------------------------------
J. David Brow                    37        Secretary, Treasurer and a Director
========================== =============== ====================================

Stephen Hanson. Mr. Hanson has been our president and one of our directors since
February 1999. Mr. Hanson devotes approximately 15-20% of his business time to
our affairs. Mr. Hanson is also a principal of Channel Capital, a venture
capital consulting firm assisting early stage companies in the development of
short and long term financing strategies. Channel Capital offers its clients a
potent and comprehensive array of services that are specific to their needs and
the needs of their market. Corporations with a diversity of needs have
materially benefited from Channel Capital's expertise. Mr. Hanson does not
anticipate any conflict of interest will arise between Channel Capital and us,
nor between any of Channel Capital's clients and us. From 1994 to 2001, Mr.
Hanson was the principal and president of The Investor Relations Group (IRG).
IRG is an internationally focused organization specializing in investor and
media relations services including increasing awareness of its corporate
clients' capabilities among financial institutions and individual investors. Mr.
Hanson is also a member of the National Investor Relations Institute, the
Canadian Investor Relations Institute and has spoken on the topic of venture
capital and investor relations at Simon Fraser University, the British Columbia
Institute of Technology and on the WIC Radio Network. Mr. Hanson is not an
officer or a director of any other reporting company.

J. David Brow. Mr. Brow has been our secretary, treasurer and one of our
directors since May 2002. Mr. Brow devotes approximately 15-20% of his business
time to our affairs. 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
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. Mr. Brow does not anticipate that there will be any
potential for conflicts of interest between us and his other duties. Mr. Brow is
not an officer or director of any other reporting company.

There is no family relationship between any of our officers or directors. There
are no orders, judgments, or decrees of any governmental agency or
administrator, or of any court of competent jurisdiction, revoking or suspending
for cause any license, permit or other authority to engage in the securities
business or in the sale of a particular security or temporarily or permanently
restraining any of our officers or directors from engaging in or continuing any
conduct, practice or employment in connection with the purchase or sale of
securities, or convicting such person of any felony or misdemeanor involving a
security, or any aspect of the securities business or of theft or of any felony,
nor are any of the officers or directors of any corporation or entity affiliated
with us so enjoined.

ITEM 10.  EXECUTIVE COMPENSATION
--------------------------------

Any compensation received by our officers, directors, and management personnel
will be determined from time to time by our Board of Directors. Our officers,
directors, and management personnel will be reimbursed for any out-of-pocket
expenses incurred on our behalf.

Summary Compensation Table. The table set forth below summarizes the annual and
long-term compensation for services in all capacities to us payable to our
President and our other executive officers during the year ending December 31,
2001 and 2002. Our Board of Directors may adopt an incentive stock option plan
for our executive officers which would result in additional compensation.





                                       18
<PAGE>



<TABLE>
<CAPTION>
<S>                                     <C>         <C>            <C>              <C>                  <C>
===================================== ======== ============ ============== ===================== =====================
Name and Principal Position            Year       Annual       Bonus ($)        Other Annual           All Other
                                                Salary ($)                    Compensation ($)        Compensation
------------------------------------- -------- ------------ -------------- --------------------- ---------------------

Stephen Hanson, President, Director    2001       None          None               None                  None
------------------------------------- -------- ------------ -------------- --------------------- ---------------------

Stephen Hanson, President, Director    2002       None          None               None                  None
------------------------------------- -------- ------------ -------------- --------------------- ---------------------
Suzanne L. Wood, Former Secretary,
Treasurer, Director                    2001       None          None               None                  None
------------------------------------- -------- ------------ -------------- --------------------- ---------------------
J. David Brow, Secretary,
Treasurer, Director                    2002       None          None               None                  None
===================================== ======== ============ ============== ===================== =====================
</TABLE>

Compensation of Directors.  Our directors who are also our employees receive
no extra compensation for their service on our Board of Directors.

Compensation of Officers.  As of April 29, 2003, our officers have received no
compensation for their services provided to us.

Employment Contracts.  We do not anticipate that we will enter into any
employment contracts with any of our employees.

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

Security Ownership of Certain Beneficial Owners. The following table specifies
the number of shares of common stock owned by beneficial owners of 5% or more of
our issued and outstanding common stock.
<TABLE>
<CAPTION>
<S>                                          <C>                                   <C>                             <C>
===================== =========================================== ================================= =============================
Title of Class                     Name and Address                  Amount of Beneficial Owner             Percent of Class
                                 of Beneficial Owner
--------------------- ------------------------------------------- --------------------------------- -----------------------------
Common Stock          Stephen Hanson(1)                                    990,000 shares                        9.34%
                      3194 Allan Road
                      North Vancouver, BC V7J 3C5
--------------------- ------------------------------------------- --------------------------------- -----------------------------
Common Stock          Muir Wood Investment Group IBC(2)                    985,000 shares                        9.29%
                      P.O. Box 156, Hibiscus Square
                      Pond Street, Grand Turk
                      Turks and Caicos Islands, BWI
--------------------- ------------------------------------------- --------------------------------- -----------------------------
Common Stock          Janis D. Douville                                    900,000 shares                        8.49%
                      3902 - 42nd Street
                      Leduc, Alberta T9E 4X4
--------------------- ------------------------------------------- --------------------------------- -----------------------------
Common Stock          Michael Kopec                                        950,000 shares                        8.96%
                      1926 West 4th Avenue
                      Vancouver, BC V6J 1M5
--------------------- ------------------------------------------- --------------------------------- -----------------------------
Common Stock          Janice Stevens                                       910,000 shares                        8.58%
                      804-1415 West Georgia Street
                      Vancouver, BC V6G 3C8
--------------------- ------------------------------------------- --------------------------------- -----------------------------
Common Stock          Sayona Kahnamooei                                    910,000 shares                        8.58%
                      301-1196 Pipeline Road
                      Coquitlam, BC V3B 7Z6
--------------------- ------------------------------------------- --------------------------------- -----------------------------
Common Stock          Caroline Hanson(1)                                   990,000 shares                        9.34%
                      3194 Allan Road
                      North Vancouver, BC V7J 3C5
--------------------- ------------------------------------------- --------------------------------- -----------------------------
Common Stock          George Stubos                                        800,000 shares                        7.55%
                      303-2638 Ash Street
                      Vancouver, BC V5Z 4K4
--------------------- ------------------------------------------- --------------------------------- -----------------------------
Common Stock          John Pattison Wright                                 900,000 shares                        8.49%
                      300-380 West 2nd Ave.
                      Vancouver, BC V5Y 1C8
===================== =========================================== ================================= =============================
(1)    Caroline Hanson, who owns 950,000 shares of our common stock, is the
       spouse of Stephen Hanson, who owns 40,000 shares of  our common stock.
       Therefore, each beneficially owns 990,000 shares of our common stock.
(2)    Ervine Quelch is the authorized signatory of Muir Woods Investment
       Group IBC and exercises voting control on behalf of Apollo Investments
       Limited, the principal shareholder of Muir Woods.

Security Ownership by Management. The following table specifies the number of
shares of common stock owned by our officers directors.

===================== ================================================= =========================== =============================
Title of Class              Name and Address of Beneficial Owner        Amount of Beneficial Owner          Percent of Class

--------------------- ------------------------------------------------- --------------------------- -----------------------------
Common Stock          Stephen Hanson, (1) president, director                 990,000 shares                     9.34%
                      #208-800 North Rainbow Boulevard
                      Las Vegas, Nevada 89107
--------------------- ------------------------------------------------- --------------------------- -----------------------------
Common Stock          J. David Brow, secretary, treasurer, director             no shares                        0.00%
                      #208-800 North Rainbow Boulevard
                      Las Vegas, Nevada 89107
--------------------- ------------------------------------------------- --------------------------- -----------------------------
Common Stock          All directors and named executive officers as a         990,000 shares                     9.34%
                      group
===================== ================================================= =========================== =============================
</TABLE>
(1)      Stephen Hanson, who owns 40,000 shares of our common stock, is the
         spouse of Caroline Hanson, who owns 950,000 shares of our
         common stock.  Therefore, Mr. Hanson beneficially owns 990,000 shares
         of our common stock.

Beneficial ownership is determined in accordance with the rules of the
Securities and Exchange Commission and generally includes voting or investment
power with respect to securities. In accordance with Securities and Exchange
Commission rules, shares of our common stock which may be acquired upon exercise
of stock options or warrants which are currently exercisable or which become
exercisable within 60 days of the date of the table are deemed beneficially
owned by the optionees. Subject to community property laws, where applicable,
the persons or entities named in the table above have sole voting and investment
power with respect to all shares of our common stock indicated as beneficially
owned by them.

Section 16(a) Beneficial Ownership Reporting Compliance. We do not know whether
our officers, directors, and principal shareholders have filed all reports
required to be filed on, respectively, a Form 3 (Initial Statement of Beneficial
Ownership of Securities), a Form 4 (Statement of Changes of Beneficial Ownership
of Securities), or a Form 5 (Annual Statement of Beneficial Ownership of
Securities).

We are not aware of any arrangements which may result in "changes in control" as
that term is defined by the provisions of Item 403 of Regulation S-B.

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

Conflicts Related to Other Business Activities. The persons serving as our
officers and directors have existing responsibilities and, in the future, may
have additional responsibilities, to provide management and services to other
entities in addition to us. As a result, conflicts of interest between us and
the other activities of those persons may occur from time to time.

We will attempt to resolve any such conflicts of interest in our favor. Our
officers and directors are accountable to us and our shareholders as
fiduciaries, which requires that such officers and directors exercise good faith
and integrity in handling our affairs. A shareholder may be able to institute
legal action on our behalf or on behalf of that shareholder and all other
similarly situated shareholders to recover damages or for other relief in cases
of the resolution of conflicts in any manner prejudicial to us.



                                       19
<PAGE>



Related Party Transactions. There have been no related party transactions,
except for the following:

Mr. Stephen Hanson, our president and a member of our board of directors, lent
us $5,000 to use as working capital. The funds bear no interest and are due
back on demand.  This advance payable is due on demand.

With regard to any future related party transaction, we plan to fully disclose
any and all related party transactions, including, but not limited to, the
following:

o    disclosing such transactions in prospectuses where required;
o    disclosing in any and all filings with the Securities and Exchange
     Commission, where required;
o    obtaining disinterested directors consent; an
o    obtaining shareholder consent where required.

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

(a) Exhibit No.
---------------

3.1                        Articles of Incorporation*

3.2                        Bylaws*

99.1                       Section 906 Certification by Chief Executive and
                           Chief Financial Officer


* Included in the registration statement on Form 10-SB filed on June 27, 2002.

(b) Reports on Form 8-K
-----------------------

No reports on Form 8-K were filed during the last quarter of the period covered
by this annual report on Form 10-KSB.



ITEM 14. CONTROLS AND PROCEDURES.
         ------------------------

(a) Evaluation of disclosure controls and procedures. We maintain controls and
procedures designed to ensure that information required to be disclosed in the
reports that we file or submit under the Securities Exchange Act of 1934 is
recorded, processed, summarized and reported within the time periods specified
in the rules and forms of the Securities and Exchange Commission. Based upon
their evaluation of those controls and procedures performed within 90 days of
the filing date of this report, our chief executive officer and the principal
financial officer concluded that our disclosure controls and procedures were
adequate.

(b) Changes in internal controls. There were no significant changes in our
internal controls or in other factors that could significantly affect these
controls subsequent to the date of the evaluation of those controls by the chief
executive officer and principal financial officer.






                                       20
<PAGE>



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned in the City of Vancouver, on April 29, 2003.

                          The Electric Network.com, Inc.
                          a Nevada corporation


                          By:      /s/  Stephen Hanson
                                   -------------------------------------------
                                   Stephen Hanson
                          Its:     principal executive and accounting officer
                                   president and a director


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/  Stephen Hanson                                    April 29, 2003
         --------------------------------------------
         Stephen Hanson
Its:     principal executive and accounting officer
         president and a director




                                       21
<PAGE>




CERTIFICATIONS

I, Stephen Hanson, certify that:

1.   I have reviewed this annual report on Form 10-KSB of The Electric
     Network.com, Inc.;
2.   Based on my knowledge, this annual report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which such
     statements were made, not misleading with respect to the period covered by
     this annual report;
3.   Based on my knowledge, the financial statements, and other financial
     information included in this annual report, fairly present in all material
     respects the financial condition, results of operations and cash flows of
     the registrant as of, and for, the periods presented in this annual report;
4.   The registrant's other certifying officers and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

         a) designed such disclosure controls and procedures to ensure that
         material information relating to the registrant, including its
         consolidated subsidiaries, is made known to us by others within those
         entities, particularly during the period in which this annual report is
         being prepared;

         b) evaluated the effectiveness of the registrant's
         disclosure controls and procedures as of a date within 90 days prior to
         the filing date of this annual report (the "Evaluation Date"); and

         c) presented in this annual report our conclusions about the
         effectiveness of the disclosure controls and procedures based on our
         evaluation as of the Evaluation Date;

5.   The registrant's other certifying officers and I have disclosed, based on
     our most recent evaluation, to the registrant's auditors and the audit
     committee of registrant's board of directors (or persons performing the
     equivalent functions):

         a) all significant deficiencies in the design or operation of internal
         controls which could adversely affect the registrant's ability to
         record, process, summarize and report financial data and have
         identified for the registrant's auditors any material weaknesses in
         internal controls; and

         b) any fraud, whether or not material, that
         involves management or other employees who have a significant role in
         the registrant's internal controls; and

6.   The registrant's other certifying officers and I have indicated in this
     annual report whether there were significant changes in internal controls
     or in other factors that could significantly affect internal controls
     subsequent to the date of our most recent evaluation, including any
     corrective actions with regard to significant deficiencies and material
     weaknesses.

Date: April 29, 2003

/s/  Stephen Hanson
-----------------------
Stephen Hanson
Chief Executive and Accounting Officer