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

                           FORM 10-KSB


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

           For the fiscal year ended December 31, 2001

                                OR

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

                Commission file number: 000-31671

                   GLOBALWISE INVESTMENTS, INC.
      (Exact Name of Registrant as Specified in Its Charter)

Nevada                                        87-0613716
(State or other jurisdiction of              (I.R.S. Employer
incorporation or organization)                Identification No.)

525 South 300 East, Suite 201, Salt Lake City, Utah             84111
(Address of principal executive offices)                       (Zip code)

Issuer's telephone number, including area code: (801) 323-2395

Securities registered pursuant to Section 12(b) of the Act: None.

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

The issuer (1) 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.
Yes [X]  No [ ]

Disclosure of delinquent filers in response to item 405 of Regulation S-B is
not contained herein, and will not be contained, to the best of registrant's
knowledge, in definitive proxy or information statements incorporated by
reference in Part III of this Form 10-KSB or any amendment to this Form
10-KSB. [ ]

State issuer's revenue for its most recent fiscal year: None.

As of March 27, 2002, the registrant had 802,000 shares of common stock
outstanding.  A market value of the voting stock held by non-affiliates cannot
be determined because the registrant does not have an active trading market.

Documents incorporated by reference: None.

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

<PAGE>


                        TABLE OF CONTENTS

                              PART I
Item 1.  Description of business.............................................3
Item 2.  Description of property.............................................7
Item 3.  Legal proceedings...................................................7
Item 4.  Submission of matters to a vote of security holders.................7

                             PART II

Item 5.  Market for common equity and related stockholder matters ...........7
Item 6.  Management's discussion and analysis or plan of operations .........8
Item 7.  Financial statements ...............................................8
Item 8.  Changes in and disagreements with accountants on accounting and
          financial disclosure..............................................19

                             PART III

Item 9.  Directors and executive officers; Compliance with Section 16(a)....19
Item 10. Executive compensation19
Item 11. Security ownership of certain beneficial owners and management ....20
Item 12. Certain relationships and related transactions.....................20
Item 13. Exhibits and reports on Form 8-K...................................21






                    FORWARD LOOKING STATEMENTS

      In this annual report references to "Globalwise," "we," "us," and "our"
refer to Globalwise Investments, Inc..

      This annual report contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995.  For this
purpose any statements contained in this annual report that are not statements
of historical fact may be deemed to be forward-looking statements.  Without
limiting the foregoing, words such as "may," "will," "expect," "believe,"
"anticipate," "estimate" or "continue" or comparable terminology are intended
to identify forward-looking statements.  These statements by their nature
involve substantial risks and uncertainties, and actual results may differ
materially depending on a variety of factors, many of which are not within
Globalwise's control.  These factors include but are not limited to economic
conditions generally and in the industries in which Globalwise may
participate, competition within Globalwise's chosen industry, technological
advances and failure by Globalwise to successfully develop business
relationships.


                                2
<PAGE>

                              PART I

                 ITEM 1: DESCRIPTION OF BUSINESS

Business Development

     Globalwise Investments, Inc. was incorporated in the state of Utah on
October 3, 1997 to engage in the confectionary vending machine business.  In
June 2000 we sold all of our assets and liabilities of our vending machine
business for 150,000 shares of our outstanding stock. (See, "Certain
Relationships and Related Transactions," below for further details.)  On July
12, 2000, Globalwise Investments, Inc. was incorporated in the state of Nevada
and on July 21, 2000 Globalwise Utah merged with Globalwise Nevada for the
sole purpose of changing our domicile from the state of Utah to the state of
Nevada.

Our Plan

      We are a "blank check" company and have had recurring operating losses
for the past two fiscal years.  Our independent auditors have expressed doubt
that we can continue as a going concern unless we obtain financing to continue
operations.

     Our business plan is to seek, investigate, and, if warranted, acquire an
interest in a business opportunity.  Our acquisition of a business opportunity
may be made by merger, exchange of stock, or otherwise.  We have very limited
sources of capital, and we probably will only be able to take advantage of one
business opportunity. At the present time we have not identified any business
opportunity that we plan to pursue, nor have we reached any preliminary or
definitive agreements or understandings with any person concerning an
acquisition or merger.

      Based on current economic and regulatory conditions, management believes
that it is possible, if not probable, for a company like ours, without many
assets or liabilities, to negotiate a merger or acquisition with a viable
private company.  The opportunity arises principally because of the high legal
and accounting fees and the length of time associated with the registration
process of "going public."  However, should any of these conditions change, it
is very possible that there would be little or no economic value for anyone
taking over control of Globalwise.

      Our search for a business opportunity will not be limited to any
particular geographical area or industry and includes both U.S. and
international companies.  Our management has unrestricted discretion in
seeking and participating in a business opportunity, subject to the
availability of such opportunities, economic conditions and other factors.
Our management believes that companies who desire a public market to enhance
liquidity for current stockholders, or plan to acquire additional assets
through issuance of securities rather than for cash will be potential merger
or acquisition candidates.

     We are subject to the reporting obligations of the Exchange Act of 1934.
In the event we merge or acquire a business opportunity, the successor company
will be subject to our reporting obligations.  This is commonly referred to as
a "back door registration."  A back door registration occurs when a
non-reporting company becomes the successor of a reporting company by merger,
consolidation, exchange of securities, acquisition of assets or otherwise.
Pursuant to Securities and Exchange Commission ("SEC") regulations, this type
of event requires the successor company to provide an 8-K current report with
the same kind of information that would appear in a registration statement,
including audited and pro forma financial statements.  Accordingly, we may
incur additional expense to conduct due diligence and present the required
information for the business opportunity in any report.  Also, the SEC may
elect to conduct a full review of the successor company and may issue
substantive comments on the sufficiency of disclosure related to the business
opportunity.

     The selection of a business opportunity in which to participate is
complex and extremely risky and will be

                                3
<PAGE>

made by management in the exercise of its business judgement.  There is no
assurance that we will be able to identify and acquire any business
opportunity which will ultimately prove to be beneficial to us and our
stockholders.  Should a merger or acquisition prove unsuccessful, it is
possible management may decide not to pursue further acquisition activities
and management may abandon its activities and we may become dormant or be
dissolved.

     Our activities are subject to several significant risks which arise
primarily as a result of the fact that we have no specific business and may
acquire or participate in a business opportunity based on the decision of
management which will, in all probability, act without consent, vote, or
approval of our stockholders.

     It is possible that the range of business opportunities that might be
available for consideration by us could be limited by impact of the SEC
regulations regarding purchase and sale of "penny stock."  Our common stock is
not publicly traded at this time and we cannot assure that a market will
develop or that a stockholder ever will be able to liquidate his investments
without considerable delay, if at all.  If a market develops, our shares will
likely be subject to the rules of the Penny Stock Suitability Reform Act of
1990. The liquidity of penny stock is affected by specific disclosure
procedures required by this Act to be followed by all broker-dealers,
including but not limited to, determining the suitability of the stock for a
particular customer, and obtaining a written agreement from the customer to
purchase the stock.  This rule may affect the ability of broker-dealers to
sell our securities and may affect the ability of purchasers to sell our
securities in any market.

Investigation and Selection of Business Opportunities

      We anticipate that business opportunities will come to our attention
from various sources, including our officers and directors, our stockholders,
professional advisors, such as attorneys and accountants, securities
broker-dealers, investment banking firms, venture capitalists, members of the
financial community and others who may present unsolicited proposals.
Management expects that prior personal and business relationships may lead to
contacts for business opportunities, however, we have not entered into any
direct or indirect negotiations at the time of this filing with any person,
corporation or other entity regarding any possible business reorganization
involving Globalwise.

     Our management will analyze the business opportunities, however, none of
our management are professional business analysts.  (See, Part III, Item 9:
"Directors and Executive Officers . . .")  Our management has had limited
experience with mergers and acquisitions of business opportunities and has not
been involved with an initial public offering.  (See, "Prior Blank Check
Involvement," below.)  Potential investors must recognize that due to our
management's inexperience we may not adequately evaluate a potential business
opportunity.

     Certain conflicts of interest exist or may develop between Globalwise and
our officers and directors.  Our management has other business interests to
which they currently devote attention, which include their primary employment
and management of other blank check reporting companies.  They may be expected
to continue to devote their attention to these other business interests
although management time should be devoted to our business.  As a result,
conflicts of interest may arise that can be resolved only through their
exercise of judgement in a manner which is consistent with their fiduciary
duties to us.  In particular, our officers and directors are directors of
other blank check companies with a structure and a business plan which is
identical to ours and they may in the future be involved with other blank
check companies.  In the process of negotiations for an acquisition or merger
or determination of consulting fees related to investigation of a business
opportunity, our principal stockholders and management may consider their own
personal pecuniary benefit or the interests of other blank check companies
they are affiliated with rather than the best interests of Globalwise's other
stockholders.

     We presently do not foresee entering into a merger or acquisition
transaction with any business with which our officers or directors are
currently affiliated. We may acquire or merge with companies of which our
management's  affiliates or associates have a direct or indirect ownership
interest.  If we determine in the future

                                4
<PAGE>

that a transaction with an affiliate would be in our best interest we are
permitted by Nevada law to enter into such a transaction if:

     (1)  The material facts regarding the relationship or interest of the
affiliate in the contract or transaction are disclosed or are known to the
Board of Directors.  The board authorizes the contract or transaction by the
affirmative vote of a majority of the disinterested directors, even though the
disinterested directors constitute less than a quorum; or

     (2)  The material facts regarding the relationship or interest of the
affiliate in the contract transaction are disclosed or are known to the
stockholders entitled to vote on the transaction, and the contract or
transaction is specifically approved by vote of the stockholders; or

     (3)  The contract or transaction is fair to us at the time it is
authorized, approved or ratified by the Board of Directors or the
stockholders.

     A decision to participate in a specific business opportunity may be made
upon our management's analysis of the quality of the other company's
management and personnel, the anticipated acceptability of the business
opportunity's new products or marketing concept, the merit of its
technological changes, the perceived benefit that it will derive from becoming
a publicly held entity, and numerous other factors which are difficult, if not
impossible, to analyze through the application of any objective criteria.  In
many instances, we anticipate that the historical operations of a specific
business opportunity may not necessarily be indicative of the potential for
the future because of the possible need to substantially shift marketing
approaches, significantly expand operations, change product emphasis, change
or substantially augment management, or make other changes.  We will be
dependent upon the owners of a business opportunity to identify any such
problems which may exist and to implement, or be primarily responsible for,
the implementation of required changes.

     In our analysis of a business opportunity we anticipate that we will
consider, among other things, the following factors:

     (1)   Potential for growth and profitability, indicated by new
technology, anticipated market expansion, or new products;

     (2)   Our perception of how any particular business opportunity will be
received by the investment community and by our stockholders;

     (3)   Whether, following the business combination, the financial
condition of the business opportunity would be, or would have a significant
prospect in the foreseeable future of becoming sufficient to enable our
securities to qualify for listing on a exchange or on a national automated
securities quotation system, such as NASDAQ.

     (4)   Capital requirements and anticipated availability of required
funds, to be provided by us or from operations, through the sale of additional
securities, through joint ventures or similar arrangements, or from other
sources;

     (5)   The extent to which the business opportunity can be advanced;

     (6)   Competitive position as compared to other companies of similar size
and experience within the industry segment as well as within the industry as a
whole;

     (7)   Strength and diversity of existing management, or management
prospect that are scheduled for recruitment;

                                5
<PAGE>

     (8)   The cost of our participation as compared to the perceived tangible
and intangible values and potential; and

     (9)   The accessibility of required management expertise, personnel, raw
materials, services, professional assistance, and other required items.

     No one of the factors described above will be controlling in the
selection of a business opportunity.  Management will attempt to analyze all
factors appropriate to each opportunity and make a determination based upon
reasonable investigative measures and available data. Potential business
opportunities may occur in many different industries and at various stages of
development.  Thus, the task of comparative investigation and analysis of such
business opportunities will be extremely difficult and complex. Potential
investors must recognize that, because of our limited capital available for
investigation and management's limited experience in business analysis, we may
not discover or adequately evaluate adverse facts about the opportunity to be
acquired.

     Prior Blank Check Involvement.  Mr. Mayer and Mrs. Perry are directors of
other blank check companies and may in the future be involved with other blank
check companies.  (See, Part III, Item 9:  "Directors and Executive Officers .
.. ." for other blank check companies.)  As of the date of this filing, these
companies have not conducted any initial public offerings nor completed any
mergers or acquisitions while Mr. Mayer and Mrs. Perry have been affiliated
with them.

     Mr. Mayer, our President, has been involved with one prior merger as a
director and officer of Millennium Plastics Corporation, a blank check
company.  The merger was structured as a stock-for-stock exchange between
Millennium Plastics and Graduated Plastics Corporation, a plastics company,
and was completed in December of 1999.  Pursuant to the terms of the merger
agreement, Millennium Plastics issued 6,750,000 common shares in exchange for
all shares held by Graduated Plastics Corporation's shareholders.  Mr. Mayer
resigned as president of Millennium Plastics upon consummation of the merger.

Form of Acquisition

     We cannot predict the manner in which we may participate in a business
opportunity. Specific business opportunities will be reviewed as well as our
needs and desires and those of the promoters of the opportunity.  The legal
structure or method deemed by management to be suitable will be selected based
upon our review and our relative negotiating strength. Such method may
include, but are not limited to, leases, purchase and sale agreements,
licenses, joint ventures and other contractual arrangements. We may act
directly or indirectly through an interest in a partnership, corporation or
other forms of organization.  We may be required to merge, consolidate or
reorganize with other corporations or forms of business organization. In
addition, our present management and stockholders most likely will not have
control of a majority of our voting shares following a merger or
reorganization transaction. As part of such a transaction, our existing
directors may resign and new directors may be appointed without any vote by
our stockholders.

     We likely will acquire our participation in a business opportunity
through the issuance of common stock or other securities.  Although the terms
of any such transaction cannot be predicted, it should be noted that issuance
of additional shares also may be done simultaneously with a sale or transfer
of shares representing a controlling interest by current principal
stockholders.

Competition

      We expect to encounter substantial competition in our effort to locate
attractive opportunities.  Business development companies, venture capital
partnerships and corporations, venture capital affiliates of large industrial
and financial companies, small investment companies, and wealthy individuals
will be our primary competition. Many of these entities will have
significantly greater experience, resources and managerial capabilities than
we do

                                6
<PAGE>

and will be in a better position than we are to obtain access to attractive
business opportunities.  We also will experience competition from other public
"blank check" companies, many of which may have more funds available for such
transactions.

Employees

     We currently have no employees.  Our management expects to confer with
consultants, attorneys and accountants as necessary.  We do not anticipate a
need to engage any full-time employees so long as we are seeking and
evaluating business opportunities.  We will determine the need for employees
based upon the specific business opportunity.


                ITEM 2: DESCRIPTION OF PROPERTIES

     We do not currently own or lease any property.  We will not seek
independent office space until we pursue a viable business opportunity and
recognize income.


                    ITEM 3: LEGAL PROCEEDINGS

     We are not a party to any proceedings or threatened proceedings as of the
date of this filing.


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

      We have not submitted a matter to a vote of our shareholders during the
fourth quarter of the 2001 fiscal year.


                             PART II

ITEM 5: MARKET PRICE FOR COMMON EQUITYAND RELATED STOCKHOLDER MATTERS

     We do not have a active public market as of this filing.  As of March 27,
2002 we had approximately 43 stockholders of record holding 802,000 common
shares.  Of these shares 157,500 shares are restricted stock as that term is
defined in Rule 144 and 644,500 shares are unrestricted stock.

     We have not declared dividends on our common stock and do not anticipate
paying dividends on our common stock in the foreseeable future.

Recent Sales of Unregistered Securities

     The following discussion describes all securities sold without
registration by Globalwise within the past three years.

     On July 18, 2000, we issued 28,000 shares valued at $15,000 to Mutual
Ventures Corporation for costs advanced on our behalf for legal and accounting
services.  We relied on an exemption from registration under the Securities
Act of 1933 by reason of Section 4(2) as a private transaction not involving a
public distribution.  Mutual Ventures Corporation was provided the same kind
of information as would be available in a registration statement regarding
Globalwise and Globalwise reasonably believed it possessed sufficient
sophistication to evaluate the information provided.  These shares were
subsequently canceled on October 29, 2001.

                                7
<PAGE>


     On July 13, 2000 an aggregate of 20,000 shares valued at approximately
$5,000 were issued.  Donald R  Mayer received 10,000 shares and Anita
Patterson received 10,000 shares in consideration for services as our
directors and officers.  We relied on an exemption from registration under the
Securities Act of 1933 by reason of Section 4(2) as a private transaction not
involving a public distribution.  Mr. Mayer and Ms. Patterson had access to
the same kind of information as would be available in a registration statement
regarding Globalwise and Globalwise reasonably believed they possessed
sufficient sophistication to evaluate the information provided.  These shares
were subsequently canceled on October 29, 2001.

      Beginning in January 1999 and ending in late March 1999, we offered a
minimum of 12,400 shares up to a maximum of 15,000 shares for cash at $5 per
share in a private offering pursuant to Regulation D Rule 504.  We sold 13,040
(652,000 post-split) shares to 30 purchasers for $65,000.  We relied on an
exemption from the registration requirements of the Securities Act of 1933 by
reasons of Section 3(b) and Regulation D as a Rule 504 limited offering.  Such
offering did not exceed the $1 million aggregate limitation for sales of
securities pursuant to Rule 504(b)(2) for the twelve months prior to and
during the offering.  We believe the Rule 504 exemption was available at the
time of the offering because we were a development stage company who owned
vending machines and had a business purpose of establishing a vending machine
business.  Each purchaser was provided the same kind of information as would
be available in a registration statement regarding Globalwise and Globalwise
reasonably believed each purchaser possessed sufficient sophistication to
evaluate the information provided.


                    ITEM 6: PLAN OF OPERATION

     We have no assets and have experienced losses from inception.  For the
year ended December 31, 2001, we had no cash on hand and total current
liabilities of $21,345.  Since inception, we have primarily financed our
operations through the sale of our common stock.  During fiscal year 1999 we
raised $65,000 through a private placement of 652,000 post-split common stock
to commence our vending machine operations.  In June 2000 our management
exchanged all of the assets and liabilities of our vending machine business
for 150,000 shares we had previously issued and we canceled those shares and
returned them to the treasury.

     In July 2000 we issued an aggregate of 48,000 common shares for costs
advanced on our behalf for legal and accounting services, valued at $15,000,
and to our executive officers for services rendered, valued at $5,000.
However, our Board determined in October 2001 that it would be in our best
interest to cancel these shares and reestablish the liabilities in the
aggregate amount of $20,000 to our accounts payable.  Management intends that
any agreement for a merger or acquisition shall provide that this debt be paid
as part of that transaction.

     We have no commitments for capital expenditures for the next twelve
months.  During the next twelve months we believe that our current cash needs
can be met by loans from our directors, officers and shareholders based on
understandings we have with these persons.  These understandings are not
written agreements and therefore these persons are not obligated to provide
funds.

     Our management intends to actively seek business opportunities during the
next twelve months and if we obtain a business opportunity, it may be
necessary to raise additional capital through the sale of our common stock. We
intend to issue any stock pursuant to exemptions from the registration
requirements provided by federal and state securities laws.  The purchasers
and manner of issuance will be determined according to our financial needs and
the available exemptions.  We also note that if we issue more shares of our
common stock our stockholders may experience dilution in the value per share
of their common stock.


                   ITEM 7: FINANCIAL STATEMENTS

                                8
<PAGE>







                   Globalwise Investments, Inc.

                       Financial Statements

                    December 31, 2001 and 2000



<PAGE> 9


                             CONTENTS


Independent Auditor's Report ..............................................3

Balance Sheets.............................................................4

Statements of Operations ..................................................5

Statements of Stockholders' Equity.........................................6

Statements of Cash Flows ..................................................7

Notes to the Financial Statements .........................................8




<PAGE> 10


                      CHISHOLM & ASSOCIATES
a Professional          Certified Public Accountants    Office (801)292-8756
Corporation                    P.O. Box 540216             Fax (801) 292-8809
                   North Salt Lake, Utah 84054
_____________________________________________________________________________





                   INDEPENDENT AUDITOR'S REPORT


To the Board of Directors and Stockholders
of Globalwise Investments, Inc.:

We have audited the accompanying balance sheets of Globalwise Investments,
Inc. (a development stage company) as of December 31, 2001 and 2000 and the
related statements of operations, stockholders' equity and cash flows for the
years ended December 31, 2001 and 2000 and from inception October 3, 1997
through December 31, 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 generally accepted auditing
standards in the United States of America.  Those standards require that we
plan and perform the audits to obtain reasonable assurance about whether the
financial statements are free of material misstatement.  An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements.  An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation.  We believe that our
audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Globalwise Investments, Inc.
(a development stage company) as of December 31, 2001 and 2000 and the results
of its operations and cash flows for the years ended December 31, 2001 and
2000 and from inception October 3, 1997 through December 31, 2001 in
conformity with generally accepted accounting principles in the United States
of America.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern.  The Company has suffered recurring
losses from operations which raises substantial doubt about its ability to
continue as a going concern.  Management's plans in regard to these matters
are described in Note 2.  The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.


/s/ Chisholm & Associates

Chisholm & Associates
North Salt Lake, Utah
January 2, 2002

<PAGE> 11

                   Globalwise Investments, Inc.
                  (A Development Stage Company)
                          Balance Sheets


                              ASSETS

                                                            December 31
                                                        2001          2000
                                                   ------------- -------------

CURRENT ASSETS

Cash                                               $          -  $          -
                                                   ------------- -------------

  Total Assets                                     $          -  $          -
                                                   ============= =============


               LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

Accounts Payable - related parties                 $     21,345  $      1,345
                                                   ------------- -------------

  Total Liabilities                                      21,345         1,345
                                                   ------------- -------------


STOCKHOLDERS' EQUITY

Common Stock, $.001 par value; 50,000,000 shares
  authorized; 802,000  and 850,000 shares issued
  and outstanding respectively                              802           850

Additional Paid in Capital                               27,542        47,494

Deficit Accumulated during the development stage        (49,689)      (49,689)
                                                   ------------- -------------

  Total Stockholders' Equity (deficit)                  (21,345)       (1,345)
                                                   ------------- -------------

Total Liabilities and Stockholders' Equity         $          -  $          -
                                                   ============= =============










The accompanying notes are an integral part of these financial statements

                               -4-
<PAGE> 12

                   Globalwise Investments, Inc.
                  (A Development Stage Company)
                     Statement of Operations


                                                                From
                                        For the Years Ended     Inception on
                                             December 31        October 3,1997
                                    --------------------------- to Dec. 31,
                                         2001         2000      2001
                                    ------------- ------------- --------------

REVENUES                            $          -  $          -  $           -
                                    ------------- ------------- --------------
EXPENSES
  General & Administrative                     -        21,345         49,689
                                    ------------- ------------- --------------

    Total Expenses                             -        21,345         49,689
                                    ------------- ------------- --------------

Net Loss                            $          -  $    (21,345) $     (49,689)
                                    ============= ============= ==============

Net Loss Per Share                  $          -  $      (0.03) $       (0.08)
                                    ============= ============= ==============

Weighted average shares outstanding      842,000       848,933        615,348
                                    ============= ============= ==============






 The accompanying notes are an integral part of these financial statements

                               -5-

<PAGE> 13


                   Globalwise Investments, Inc.
                   (A Development Stage Company)
                Statements of Stockholders' Equity
   From Inception on October 3, 1997 through December 31, 2001


                                                                 Deficit
                                                                 Accumulated
                                                     Additional  During the
                                Common Stock         Paid in     Development
                             Shares       Amount     Capital     Stage
                           ------------- ----------- ----------- -------------

Balance, October 3, 1997              -  $        -  $        -  $          -

Shares issued for equipment
 at $0.064 per share            300,000         300      18,800             -

Net (loss) for the year
 ended December 31, 1997              -           -           -             -
                           ------------- ----------- ----------- -------------

Balance - December 31, 1997     300,000         300      18,800             -

Capital Contributions                 -           -         550             -

Net (loss) for the year
 ended December 31, 1998              -           -           -          (550)
                           ------------- ----------- ----------- -------------

Balance - December 31, 1998     300,000         300      19,350          (550)

Shares issued for cash at
 $0.0996 per share              652,000         652      64,348             -

Capital Contributions                 -           -       6,000             -

Net (loss) for the year
 ended December 31, 1999              -           -           -       (27,794)
                           ------------- ----------- ----------- -------------

Balance - December 31, 1999     952,000         952      89,698       (28,344)

Cancellation of shares in
 connection with spin-off
 of Assets and Liabilities
 of the Company                (150,000)       (150)    (62,156)            -

Shares issued for services
 at $.25 per share               20,000          20       4,980             -

Shares issued for services
 at $.536 per share              28,000          28      14,972             -

Net (loss) for the year
 ended December 31, 2000              -           -           -       (21,345)
                           ------------- ----------- ----------- -------------

Balance - December 31, 2000     850,000         850      47,494       (49,689)

Cancellation of shares
 issued for services
 in 2000                        (48,000)        (48)    (19,952)            -

Net (loss) for the year
 ended December 31, 2001              -           -           -             -
                           ------------- ----------- ----------- -------------

Balance - December 31, 2001     802,000  $      802  $   27,542  $    (49,689)
                           ============= =========== =========== =============














The accompanying notes are an integral part of these financial statements

                               -6-

<PAGE> 14


                   Globalwise Investments, Inc.
                  (A Development Stage Company)
                     Statement of Cash Flows


                                                                From
                                        For the Years Ended     Inception on
                                             December 31        October 3,1997
                                    --------------------------- through
                                         2001         2000      Dec. 31, 2001
                                    ------------- ------------- --------------
Cash Flows from Operating Activities

  Net Loss                          $          -  $    (21,345) $     (49,689)
  Adjustments for non-cash items:
   Capital contributions - expenses            -             -          6,550
   Shares issued for services            (20,000)       20,000              -
   Increase in Inventory                       -             -        (21,744)
   Increase (decrease) in
     accounts payable                     20,000         1,345         21,944
                                    ------------- ------------- --------------
  Net Cash Provided (Used) by
   Operating Activities                        -             -        (42,939)
                                    ------------- ------------- --------------

Cash Flows from Investing Activities:
  Purchase of equipment                        -             -        (20,530)
  Loss of cash in spin-off                     -        (1,531)        (1,531)
                                    ------------- ------------- --------------
  Net Cash Provided (Used) in
  Investing Activities                         -        (1,531)       (22,061)
                                    ------------- ------------- --------------


Cash Flows from Financing Activities:
  Proceeds from stock issuance                 -             -         65,000
                                    ------------- ------------- --------------

  Net cash Provided by
   Financing Activities                        -             -         65,000
                                    ------------- ------------- --------------

Increase (Decrease) in Cash                    -             -              -

Cash and Cash Equivalents,
 Beginning of Period                           -         1,531              -
                                    ------------- ------------- --------------
Cash and Cash Equivalents,
 End of Period                      $          -  $          -  $           -
                                    ============= ============= ==============

Supplemental Cash Flow Information:

  Stock issued for services         $    (20,000) $     20,000  $           -

  Cash Paid For:
    Interest                        $          -  $          -  $           -
    Income Taxes                    $          -  $          -  $           -










The accompanying notes are an integral part of these financial statements

                               -7-

<PAGE> 15

                   Globalwise Investments, Inc.
                  (A Development Stage Company)
                Notes to the Financial Statements
                    December 31, 2001 and 2000

NOTE 1 - Summary of Significant Accounting Policies

     a.  Organization & Consolidation Policy

         Globalwise Investments, Inc.  (the Company), a Utah corporation, was
incorporated October 3, 1997.   The Company was organized for the purpose of
engaging in the confectionary vending machine business.

     b.  Recognition of Revenue

         The Company recognizes income and expense on the accrual basis of
accounting.

     c.  Earnings (Loss) Per Share

                                       Income (loss)  Shares       Per Share
                                       (Numerator)   (Denominator) Amount
                                       ------------- ------------- -----------
For the year ended December 31, 2001:

 Basic EPS
  Income (loss) to common stockholders $          -       842,000  $    (0.00)
                                       ============= ============= ===========

For the year ended December 31, 2000:

 Basic EPS
  Income (loss) to common stockholders $    (21,345)      848,933  $    (0.03)
                                       ============= ============= ===========

From inception on October 3, 1997 to
December 31, 2001:

 Basic EPS
  Income (loss) to common stockholders $    (49,689)      615,348  $    (0.08)
                                       ============= ============= ===========

         The computation of earnings per share of common stock is based on the
weighted average number of shares outstanding at the date of the financial
statements.

     d.  Cash and Cash Equivalents

         The Company considers all highly liquid investments with maturities
of three months or less to be cash equivalents.


                               -8-

<PAGE> 16

                   Globalwise Investments, Inc.
                  (A Development Stage Company)
                Notes to the Financial Statements
                    December 31, 2001 and 2000

NOTE 1 - Summary of Significant Accounting Policies (continued)

     e.  Provision for Income Taxes

         No provision for income taxes have been recorded due to net operating
loss carryforwards totaling approximately $49,689 that will be offset against
future taxable income.  These NOL carryforwards begin to expire in the year
2018.  No tax benefit has been reported in the financial statements because
the Company believes there is a 50% or greater chance the carryforward will
expire unused.

         Deferred tax asset and the valuation account is as follows at
December 31, 2001 and 2000:
                                                            December 31,
                                                        2001         2000
                                                   ------------- -------------
     Deferred tax asset:
          NOL carryforward                         $     15,900  $     15,900

          Valuation allowance                          ( 15,900)     ( 15,900)
                                                   ------------- -------------

                                                   $          -  $          -
                                                   ============= =============

     f.  Use of estimates

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

NOTE 2 - Going Concern

         The accompanying financial statements have been prepared assuming
that the Company will continue as a going concern.  The Company has no assets
and has had recurring operating losses for the past several years and is
dependent upon financing to continue operations.  The financial statements do
not include any adjustments that might result from the outcome of this
uncertainty.  It is management's plan to find an operating company to merge
with, thus creating necessary operating revenue.





                               -9-
<PAGE> 17

                   Globalwise Investments, Inc.
                  (A Development Stage Company)
                Notes to the Financial Statements
                    December 31, 2001 and 2000

NOTE 3 - Spin-off

         In March, 2000, the Company exchanged all of its assets and
liabilities for 150,000 shares of its previously issued common stock.  The
shares were subsequently canceled.

NOTE 4 - Stock Cancellation

         The Company and stockholders have elected to cancel stock that was
issued in July, 2000 in lieu of payment for costs and services.  48,000 shares
were canceled which had been issued for services and costs valued at $20,000.
The liability has been re-established in the Accounts Payable - related
parties section of the balance sheet.


NOTE 5 - Development Stage Company

         The Company is a development stage company as defined in Financial
Accounting Standards Board Statement No. 7.  It is concentrating substantially
all of its efforts in raising capital and searching for a business operation
with which to merge, or assets to acquire, in order to generate significant
operations.

NOTE 6 - Related Party Transactions

         During previous years, the Company incurred $21,345 of professional
fees payable to Mutual Ventures Corp.  An officer of the Company is an
employee of Mutual Ventures Corp.




















                               -10-

<PAGE> 18

      ITEM 8: CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS

As previously reported, on June 30, 2000, Chisholm & Associates replaced our
former independent auditor, Andersen Andersen & Strong LC.  In January of 2000
Andersen Andersen & Strong replaced our former independent auditor Crouch,
Bierwolf and Chisholm.


                             PART III

ITEM 9: DIRECTORS AND EXECUTIVE OFFICERS; COMPLIANCE WITH SECTION 16(a)

Directors and Executive Officers

     Our executive officers and directors and their respective ages, positions
and term of office are set forth below.  Biographical information for each of
those persons is also presented below.  Our bylaws require two directors who
serve until our next annual meeting or until each is replaced by a qualified
director.  Our executive officers are chosen by our Board of Directors and
serve at its discretion.  There are no existing family relationships between
or among any of our executive officers or directors.
                                                                Director or
Name               Age   Position Held                          Officer Since
------------------ ----- -------------------------------------- -------------
Donald R. Mayer    63    President, Director                    July 11, 2000
Linda L. Perry     58    Secretary/Treasurer, Director          July 20, 2001

     Donald R.  Mayer.  Mr. Mayer has been the President and a director of
Universal Business Insurance, an insurance company that he founded and has
operated for the past eleven years.  He has worked in the insurance industry
for over 17 years, specializing in the motel/hotel industry.  He is a director
of Nova Star Innovations, Inc. and WorldNet, Inc. of Nevada, blank check
reporting companies.  He graduated from the University of Utah, located in
Salt Lake City, Utah, with a B.A. in accounting in 1971.

     Linda L. Perry  Mrs. Perry serves as President of Business Builders,
Inc., a privately held business consulting firm which she co-founded in 1997.
She also serves as a director of Wings &Things, Inc., a reporting company.
She attended Weber State College, located in Ogden, Utah.

Section 16(a) Beneficial Ownership Reporting Compliance

     Section 16(a) of the Securities Exchange Act of 1934 requires our
directors, executive officers and persons who own more than five percent of a
registered class of our equity securities, to file with the Securities and
Exchange Commission initial reports of ownership and reports of changes in
ownership our common stock. Officers, directors and greater than ten-percent
beneficial owners are required by SEC regulations to furnish us with copies of
all Section 16(a) reports they file.  Based upon review of the copies of such
forms furnished to us and representations from these persons whether Forms 5
were required, we believe that Linda L. Perry filed a Form 5 reporting one
transaction in lieu of a late Form 3.


                 ITEM 10: EXECUTIVE COMPENSATION

     None of our named executive officers received any cash compensation,
bonuses, stock appreciation rights, long term compensation, stock awards or
long-term incentive rights in excess of $100,000 from us during the past three
fiscal years.  Mr. Mayer, our President, who acts in the capacity of chief
executive officer received shares valued at $5,000 in 2000; however, these
shares were canceled and returned to the treasury in October 2001.  We have
not entered into employment contracts with our executive officers and their
compensation, if any, will be


                                19

<PAGE>

determined at the discretion of our Board of Directors.

Compensation of Directors

     We do not have any standard arrangement for compensation of our directors
for any services provided as director, including services for committee
participation or for special assignments.


ITEM 11: SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

     The following table sets forth the beneficial ownership of our
outstanding common stock by our management and each person or group known by
us to own beneficially more than 5% of our outstanding common stock.
Beneficial ownership is determined in accordance with the rules of the SEC and
generally includes voting or investment power with respect to securities.
Except as indicated by footnote, the persons named in the table below have
sole voting power and investment power with respect to all shares of common
stock shown as beneficially owned by them.  The percentage of beneficial
ownership is based on 802,000 shares of common stock outstanding as of March
27, 2002.

                    CERTAIN BENEFICIAL OWNERS

                                            Common Stock Beneficially Owned
                                            -------------------------------
Name and Address of                  Number of Shares of
Beneficial Owners                    Common Stock        Percentage of Class
------------------------------------ ------------------- -------------------

Aaron Nelson                           50,000 (1)           6.2%
5710 E. Tropicana #2023
Las Vegas, Nevada 89122

Brent Nelson                          150,000              18.7%
1238 Thames Ct.
Salt Lake City, Utah 84123

(1) Includes 25,000 shares held by spouse.

                            MANAGEMENT

                                             Common Stock Beneficially Owned
                                             -------------------------------
Name and Address of                 Number of Shares of
Beneficial Owners                   Common Stock          Percentage of Class
----------------------------------- --------------------- -------------------

Donald R. Mayer                         7,500                Less than 1%
6360 South 3000 East #205
Salt Lake City, Utah 84121



     ITEM 12: CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

     The following information summarizes transactions we have either engaged
in during the two most recent fiscal years or propose to engage in involving
our executive officers, directors, more than 5% stockholders, or immediate
family members of such persons.

     On July 13, 2000, an aggregate of 20,000 shares were issued to our
directors and officers in consideration

                                20
<PAGE>

for their services performed and to be performed in those positions.  Donald
R. Mayer, our President, received 10,000 shares valued at approximately
$2,500.  This transaction was negotiated between related parties without "arms
length" bargaining and as a result the terms of this transaction may be
different than transactions between unrelated parties.  However, in October
2001 these shares were canceled and returned to the treasury.

     On March 3, 2000, our management determined that it was in the best
interests of Globalwise to sell the assets and liabilities of our vending
machine business and we formalized an agreement to sell the assets and
liabilities to Brent Nelson, our then President and Director.  In June 2000
Mr. Nelson exchanged 150,000 shares of Globalwise common stock held by him to
purchase these assets and liabilities.  The shares were valued at $62,306
based upon the value of our total current assets, which included equipment and
inventory, less our total current liabilities as of March 2000 date.  This
transaction was negotiated between related parties without "arms length"
bargaining and as a result the terms of this transaction may be different than
transactions between unrelated parties.  In July 2000, Mr. Nelson resigned as
President and Director to pursue other interests.  We subsequently canceled
the 150,000 shares and returned them to the treasury.

            ITEM 13: EXHIBITS AND REPORTS ON FORM 8-K

Exhibits

Number  Description
------  ------------

3.1     Articles of Incorporation, as amended (Incorporated by reference to
        exhibit 3.1 of Form 10-QSB, filed October 11, 2001)

3.3     Bylaws of Globalwise (Incorporated by reference to exhibit 3.3 of Form
        10-SB, filed October 2, 2000.)


Reports on 8-K

     None

                                21
<PAGE>
                            SIGNATURES


     In accordance with Section 13 or 15(d) of the Securities Exchange Act of
1934, the registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


        4/01/2002
Date_________________________   Globalwise Investments, Inc.

                                      /s/ Donald R. Mayer
                                By: ______________________________________
                                    Donald R. Mayer
                                    President and Director

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



       4/01/2002                     /s/ Linda L. Perry
Date_________________________   By: _______________________________________
                                    Linda L. Perry
                                    Secretary/Treasurer and Director



                                22