UNITED STATES
                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, 2002

                                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                                                  870613716
______________________________                         __________________
(State or other jurisdiction of                        (I.R.S. Employer
incorporation or organization)                         Identification No.)


2157 S. Lincoln Street, Salt Lake City, Utah      84106
____________________________________________     __________
(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

Check whether 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 [ ]

Check if 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.    [X]

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

As of March 18, 2003, the registrant had 802,000 shares of common stock
outstanding.  Since the registrant does not have an active trading market, a
market value of the voting stock held by non-affiliates cannot be determined.

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...........8
Item 6.  Plan of operation..................................................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 compensation............................................19
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..................................20
Item 14. Controls and Procedures...........................................21
Signatures and Certifications..............................................22








                    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 and 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, including
competition from much larger competitors; 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 the assets and liabilities of our vending machine
business.  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.

     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 the Securities and Exchange Commission ("SEC")
regulations, this type of event requires the successor company to provide the
same kind of information that would appear in a registration statement in a
current report on Form 8-K, 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.

     Our search for a business opportunity will not be limited to any
particular geographical area or industry, including both United States 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.

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


                                3
<PAGE>

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
listed on the OTC Bulletin Board, but there is little market activity at this
time.  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, Item 5:  "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 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:

                                4

<PAGE>

     (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 shift marketing approaches
substantially, expand significantly, 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 management
will consider, among other things, the following factors:

     (1)   Potential for growth and profitability, indicated by a 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
prospects that are scheduled for recruitment;

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


                                5
<PAGE>

     (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. Potentially available
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.  Mr. Mayer is a director of WorldNet, Inc. of Nevada, a blank
check reporting company.  Mrs. Perry is a director of Wings & Things, Inc.,
which is a blank check reporting company.  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 methods 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 organizations. 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 might 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 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.


                                6

<PAGE>

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.

                ITEM 2: DESCRIPTION OF PROPERTIES

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

                    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 2002 fiscal year.

                             PART II

ITEM 5: MARKET PRICE FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

Market Information and Dividends

     Our common stock was listed on the OTC Bulletin Board on March 12, 2002,
under the symbol "GWIV."  We have had no market activity in our stock as of
this filing.  As of March 18, 2003 we had approximately 36 stockholders of
record holding 802,000 common shares.  We have not granted options or
warrants.  We have not declared dividends on our common stock and do not
anticipate paying dividends on our common stock in the foreseeable future.

Securities Under Equity Compensation Plans

     We do not have any securities authorized for issuance under any equity
compensation plans.

Recent Sales of Unregistered Securities

     The following discussion describes all securities sold by us without
registration 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.  These shares were subsequently canceled in October 2001. 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.

     On July 13, 2000, an aggregate of 20,000 shares valued at approximately
$5,000 were issued.  We issued 10,000 shares to Donald R. Mayer and 10,000
shares were issued to Anita Patterson in consideration for services as our
directors and officers.  These shares were subsequently canceled in October
2001. 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.

                                7

<PAGE>

     In connection with each of these isolated issuance's of our securities,
we believe that each purchaser was provided the same kind of information
regarding Globalwise as would be available in a registration statement and we
reasonably believed each possessed sufficient sophistication to evaluate the
information provided.  In addition we believe each purchaser was aware that
the securities had not been registered under federal securities laws; acquired
the securities for his/her/its own account for investment purposes and not
with a view to or for resale in connection with any distribution for purposes
of the federal securities laws; understood that the securities would need to
be indefinitely held unless registered or an exemption from registration
applied to a proposed disposition; and was aware that the certificate
representing the securities would bear a legend restricting their transfer.

     As a result, we believe that the sale of our securities to the respective
acquirers did not constitute the sale of an unregistered security in violation
of the federal securities laws and regulations by reason of the exemptions
provided under  3(b) and 4(2) of the Securities, and the rules and regulations
promulgated thereunder.

                    ITEM 6: PLAN OF OPERATION

     We have no assets and have experienced losses from inception.  For the
year ended December 31, 2002 and 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.

     We have no commitments for capital expenditures for the next twelve
months.   The majority of our expenses are related to our reporting
obligations under the Exchange Act.  We accrued $21,345 of expenses related to
the professional services required to prepare our reports and the costs of
filing the reports with the SEC.  We may repay these accounts payable with
cash, if available, or we may convert them into common stock. Also, if we
acquire a business opportunity we may incur additional reporting expenses
related to proxy or information statements we must provide to our stockholders
which disclose the company to be acquired's business operations, management
and financial condition.

     During the next twelve months we believe that our current cash needs can
be met by loans from our directors, officers and stockholders based on
informal understandings we have with these individuals.  These understandings
are not written agreements and therefore these persons are not obligated to
provide funds.  We may repay these loans and advancements with cash, if
available, or we may convert them into common stock.

     Our management intends to actively seek business opportunities during the
next twelve months.  If we obtain a business opportunity, then it may be
necessary to raise additional capital through the sale of our common stock.
We intend to issue such stock pursuant to exemptions 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
do not currently intend to make a public offering of our stock.  We also note
that if we issue more shares of our common stock our shareholders 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, 2002 and 2001



<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, 2002 and 2001 and the
related statements of operations, stockholders' equity and cash flows for the
years ended December 31, 2002 and 2001 and from inception October 3, 1997
through December 31, 2002.  These financial statements are the responsibility
of the Company's management.  Our responsibility is to express an opinion on
these financial statements based on our audits.

We conducted our audits in accordance with 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, 2002 and 2001 and the results
of its operations and cash flows for the years ended December 31, 2002 and
2001 and from inception October 3, 1997 through December 31, 2002 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, 2003






                                3


<PAGE> 11


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



                              ASSETS
                                                         December 31
                                                     2002           2001
                                                 ------------- -------------
CURRENT ASSETS

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

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


               LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

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

  Total Liabilities                                    21,345        21,345
                                                 ------------- -------------
STOCKHOLDERS' EQUITY

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

Additional Paid in Capital                             27,542        27,542

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

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

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
                                                               Inception on
                                       For the Years Ended     October 3,
                                            December 31        1997 to
                                         2002         2001     Dec. 31, 2002
                                   ------------- ------------- -------------

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

    Total Expenses                            -             -        49,689
                                   ------------- ------------- -------------

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

Net Loss Per Share                 $          -  $          -  $      (0.07)
                                   ============= ============= =============

Weighted average shares outstanding     802,000       842,000       676,373
                                   ============= ============= =============




















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, 2002



                                                                 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)

Net (loss) for the year
 ended December 31, 2002              -           -           -             -
                           ------------- ----------- ----------- -------------

Balance - December 31, 2002     802,000  $      802  $   27,542  $    (49,689)
                           ============= =========== =========== =============





The accompanying notes are an integral part of these financial statements


                               -6-

<PAGE> 14
<TABLE>
<CAPTION>




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


                                                                     From
                                                                     Inception on
                                             For the Years Ended     October 3,
                                                  December 31        1997 Through
                                              2002         2001      December 31, 2002
                                         ------------- ------------- -----------------

                                      <c>           <c>           <c>
Cash Flows from Operating Activities

  Net Loss                               $          -  $          -  $        (49,689)
  Adjustments for non-cash items:
   Capital contributions - expenses                 -             -             6,550
   Shares issued for services                       -       (20,000)                -
   Increase  in Inventory                           -             -           (21,744)
   Increase (decrease) in
     accounts payable                               -        20,000            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)
                                         ------------- ------------- -----------------

  Net Cash Provided (Used) in
  Investing Activities                              -             -           (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                               -             -                 -
                                         ------------- ------------- -----------------
Cash and Cash Equivalents,
  End of Period                          $          -  $          -  $              -
                                         ============= ============= =================
Supplemental Cash Flow Information:
  Stock issued for services              $          -  $    (20,000) $              -

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







The accompanying notes are an integral part of these financial statements


                               -7-



</TABLE>
<PAGE> 15




                   Globalwise Investments, Inc.
                  (A Development Stage Company)
                Notes to the Financial Statements
                    December 31, 2002 and 2001

NOTE 1 - Summary of Significant Accounting Policies

       a.    Organization & Consolidation Policy

             Globalwise Investments, Inc.  (the Company), a Nevada
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, 2002:

 Basic EPS
 Income (loss) to common stockholders  $          -       802,000  $        -
                                       ============= ============= ===========

For the year ended December 31, 2001:

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

From inception on October 3, 1997 to
December 31, 2002:

 Basic EPS
 Income (loss) to common stockholders  $    (49,689)      676,373  $    (0.07)
                                       ============= ============= ===========

             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, 2002 and 2001

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, 2002 and 2001:

                                                        December 31,
                                                    2002           2001
                                                ------------- -------------
    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, 2002 and 2001


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 First Equity Holdings Corp (formerly Mutual
Ventures Corp.)  An officer of the Company was an employee of First Equity
Holdings Corp.










                               -10-

<PAGE> 18


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

     We have not had a change in, or disagreement with, our principal
independent accountant during the past two fiscal years.

                             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.

Name                   Age     Position Held                  Director 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 thirteen years.  He has worked in the insurance industry
for about twenty years, specializing in the motel/hotel industry.  He is a
director of WorldNet, Inc. of Nevada, a blank check reporting company.  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.

Compliance with Section 16(a) of the Exchange Act.

     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 of common stock and our other equity securities.  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 during the
fiscal year ended December 31, 2002, and representations to us that no Forms 5
were required, we believe no reports were required to be filed for the year
ended December 31, 2002.

                 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 did not receive compensation during the year ended December
31, 2002.   We have not entered into employment contracts with our executive
officers and their compensation, if any, will be determined at the discretion
of our Board of Directors.

Compensation of Directors

                                19


<PAGE>

     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
18, 2003.


                    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

     We have not engaged in any transactions in excess of $60,000 during the
past two years involving our executive officers, directors, 5% or more
stockholders or immediate family members of such persons.

            ITEM 13: EXHIBITS AND REPORTS ON FORM 8-K

Exhibits
3.1       Articles of Incorporation, dated July 12, 2000 (Incorporated by
          reference to exhibit 3.1 of Form 10-SB, filed October 2, 2000.)
3.2       Articles of Merger, dated July 21, 2000 (Incorporated by reference
          to exhibit 3.2 of Form 10-SB, filed October 2, 2000.)

                                20

<PAGE>

3.3       Bylaws of Globalwise (Incorporated by reference to exhibit 3.3 of
          Form 10-SB, filed October 2, 2000.)
99.1      Section 1350 certification

Reports on Form 8-K

     None

                 ITEM 14: CONTROLS AND PROCEDURES

     During the year ended December 31, 2002, we formalized the procedures we
rely on to ensure that material information regarding our company and its
operations is provided to the public in a timely manner.  On March 24, 2003,
our principal executive and financial officer, Donald R. Mayer, evaluated the
effectiveness of these disclosure controls and procedures and determined that
there were no significant deficiencies in these procedures.

     Also, Mr. Mayer did not identify any deficiencies or material weaknesses
in our internal controls, nor did he identify fraud that involved management
or other employees who had a significant role in our internal controls.  He
did not find any deficiencies or weaknesses which would require changes to be
made or corrective actions to be taken related to our internal controls.


                                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.



Date: March 26, 2003        Globalwise Investments, Inc.


                                 /S/ Donald R. Mayer
                            By: ______________________________________
                                Donald R. Mayer
                                President and Director
                                Principal Executive and Financial Officer

      Pursuant to the requirements of the Securities Exchange Act of 1934.
This report has been signed below by the following persons on behalf of the
Registrant and in the capacities and on the dates indicated.



                                /s/ Linda L. Perry

Date: March 26, 2003        By: ______________________________________________
                                Linda L. Perry
                                Secretary/Treasurer and Director



            PRINCIPAL EXECUTIVE OFFICER CERTIFICATION


I, Donald R. Mayer, certify that:

1.   I have reviewed this annual report on Form 10-KSB of Globalwise
Investments, 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 statement made, in light of the circumstances under which 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 we 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

                                22

<PAGE>

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 function):

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 or not 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:  March 26, 2003

                               /s/ Donald R. Mayer
                              ____________________________________
                              Donald R. Mayer
                              Principal Executive Officer


            PRINCIPAL FINANCIAL OFFICER CERTIFICATION

I, Donald R. Mayer, certify that:

1.   I have reviewed this annual report on Form 10-KSB of Globalwise
Investments, 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 statement made, in light of the circumstances under which 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 we 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


                                23
<PAGE>

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 function):

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 or not 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.



                             /s/ Donald R. Mayer
Date: March 26, 2003        _____________________________________________
                            Donald R. Mayer
                            Principal Financial Officer



                                24