UNITED STATES SECURITES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  20549

                                   FORM 10-KSB

                [X] ANNUAL REPORT UNDER SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934
                              For Fiscal Year Ended
                                December 31, 2003

                            Commission File # 0-26701

                             COLUMBIA BAKERIES, INC.
             (Exact name of registrant as specified in its charter)

                                     NEVADA
         (State or other jurisdiction of incorporation or organization)

                                   88-0406874
                      (IRS Employer Identification Number)

         319 Clematis Street, Suite 211, West Palm Beach, Florida 33401
               (Address of principal executive offices)(Zip Code)

                                 (561) 366-9211
                (Registrant's telephone no., including area code)

    (Former name, former address and former fiscal year, if changed since last
                                     report)

SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT: None
SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT: Common Stock, $0.001
Par Value
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding  12  months  (or  for such shorter period that the registrant was
required  to  file  such  reports),  and  (2)  has  been  subject to such filing
requirements  for  the  past  90  days.  Yes  [X]  No  [  ]

Check  if there is no disclosure of delinquent filers in response to Item 405 of
Regulation  S-B not contained in this form, and no disclosure will be contained,
to  the  best  of the 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)

Revenues  for  year ended December 31, 2003: $140,721. Aggregate market value of
the  voting  common  stock held by non-affiliates of the registrant as of May 6,
2004  was  $1,085,668.  The  number  of  shares of the registrant's common stock
outstanding  as  of  May  6,  2004  was  155,095,473.

<PAGE>

                                TABLE OF CONTENTS



                                     PART I

Item 1.     Description of Business                                          1

Item 2.     Properties                                                       4

Item 3.     Legal Proceedings                                                4

Item 4.     Submission of Matters to a Vote of Security Holders              4


                                     PART II

Item 5.     Market for Registrant's Common Equity and Related Stockholder    4
            Matters

Item 6.     Management's Discussion and Analysis or Plan of Operations       6

Item 7.     Financial Statements and F-1                                   F-1

Item 8.     Changes in and Disagreements with Accountants on Accounting and
            Financial Disclosure                                             9

Item 8A.    Controls and Procedures                                          9

                                    PART III

Item 9.     Directors, Executive Officers, Promoters and Control Persons;
            Compliance with Section 16(a) of The Exchange Act               10

Item 10.    Executive Compensation                                          11

Item 11.    Security Ownership of Certain Beneficial Owners And Management  12

Item 12.    Certain Relationships and Related Transactions                  13

Item 13.    Exhibits and Reports on Form 8-K                                13

Item 14.    Principal Accountant Fees and Services                          14


SIGNATURES                                                                  16

<PAGE>

                                     PART I

ITEM 1.  DESCRIPTION OF BUSINESS

HISTORY

Columbia  Bakeries,  Inc.,  hereinafter  referred  to  as  the  ("Company")  or
("Columbia"),  was originally formed as a Nevada Corporation under the name eCom
Corporation  on  October  6,  1998.  eCom  Corporation was a developmental stage
company  whose original principal business objective was to provide reliable and
cost efficient business Internet connectivity in the form of "website packages."
Based  on  adverse  market conditions and the failure of many Internet "dot.com"
companies,  ECCM  abandoned its original business plan and subsequently acquired
interests  in  other  companies.

On  May  28, 2002, the Company had divested itself of all ongoing operations and
entered  into  an  agreement  with  Colbake  Holdings,  Inc. to acquire Columbia
Bakeries,  Inc.,  a  Delaware corporation. On May 28, 2002, the Company acquired
Columbia  Bakeries,  Inc.,  a  Delaware  corporation in exchange for 151,000,000
(pre-split)  shares  of  its  common  stock.

On  May 13, 2003, the Company changed its name from eCom Corporation to Columbia
Bakeries,  Inc.

On June 18, 2003, Columbia Bakeries, Inc. announced a 1 for 30 reverse split and
changed its trading symbol to "CBBS".

On  July 2, 2003, the Company announced its acquisition of Brooklyn Pastry, Inc.
(BPI),  a  non-operating  Florida  corporation.  Pursuant  to  the  acquisition
agreement,  the  Company  issued  266,700  shares of its $0.001 par value common
stock in exchange for 100% of the issued and outstanding shares of BPI. BPI is a
development  stage  corporation  that  was  organized in January 2003 to acquire
certain  baking equipment from Brooklyn Pastry Inc., a New York corporation, and
to  engage  in  the business of baking and distributing bread and pastry. At the
time  of  acquisition,  BPI  had  immaterial  assets  and  liabilities.

The  Company has limited financial resources available, which has had an adverse
impact  on the Company's liquidity, activities and operations. These limitations
have  adversely  affected  the  Company's ability to obtain certain projects and
pursue  additional business. There is no assurance that the Company will be able
to  raise  sufficient  funding  to  permit the Company to continue in operation.

GENERAL INFORMATION ABOUT COLUMBIA BAKERIES, INC.

Columbia is in the business of producing and distributing bakery products in the
New  York area and along the Northeast Corridor. It operates a bakery and retail
facility.  At  present,  the  principal products produced are croissants, Danish
pastries  and  related specialty products. The Company purchases frozen, unbaked
products  from  various US and Canadian producers, completes the baking process,
and  sells them principally to major jobbers and commissaries in the greater New
York  area.  The Company also produces and sells its products on a private label
basis  to  other  specialty bakeries. On or about June 1, 2003 the Company moved
its  operations  to  an  8000 square foot retail and bakery facility at 109 Kean
Street,  West  Babylon,  New  York  11704  and  is currently operating from that
location.

On  or  about  July  15,  2002,  the Company purchased five commercial ovens and
related  equipment  required  to bake-off frozen croissants, Danish pastries and
other bakery items. This equipment, which has a production capacity of 800 dozen
units  per  hour,  was  installed  at  the  Company's  Astoria  facility.

In  addition to its bake-off equipment, the Company acquired packaging equipment
that  is  specifically  designed to package individual slices of bread and rolls
for  hospitals,  rest  homes  and other institutional customers. The Company has
also completed the wrapping designs for its commercial and institutional product
lines  and  this  equipment  is  now  in  operation.

                                      -1-
<PAGE>

On August 6, 2003, the Company announced its acquisition of certain tangible and
intangible  bakery  assets  for $15,000 cash, a $235,000 five-year, non-interest
bearing note, and an assumption of equipment leases totaling $83,647. The assets
are  to  be  placed  into  operations  by  the wholly owned subsidiary, Brooklyn
Pastry,  Inc.

Supporting its bake-off production operations, the Company purchases its unbaked
frozen products from U.S. and Canadian sources, completes the baking process and
delivers  finished product to jobbers, distributors and commissaries who in turn
deliver  the  product  to  retail  outlets.

The  Company  is continuing to actively seeking opportunities to expand its base
of  distribution.

RISK FACTORS

GOING CONCERN RISK

We have had and could have losses, deficits and deficiencies in liquidity, which
could  impair  our  ability  to  continue  as  a  going  concern.

In  Note  #2  to our consolidated financial statements, our independent auditors
have indicated that certain factors raise substantial doubt about our ability to
continue  as  a  going  concern.  Since  its inception, the Company has suffered
recurring losses from operations and has been dependent on existing stockholders
and  new  investors  to  provide  the  cash resources to sustain its operations.
During  the  years  ended  December  31, 2003 and 2002, the Company reported net
losses  and  negative  cash  flows  from  operations  as  follows:

                             2003         2002
                        ------------  -----------
Net loss                $ 1,099,363    $433,140
Net loss per share      $     .026     $   .018

The Company's continuing negative operating results have produced an accumulated
deficit  of  $1,532,503  at  December 31, 2003.  These factors raise substantial
doubt  about  the  Company's  ability  to  continue  as  a  going  concern.

The Company's long-term viability as a going concern is dependent on certain key
factors,  as  follows:

-    The Company's ability to continue to obtain sources of outside financing to
     support  near  term  operations.

-    The  Company's  ability  to  increase profitability and sustain a cash flow
     level  that  will  ensure  support  for  continuing  operations.

IMPLEMENTATION OF BUSINESS STRATEGY DEPENDENT ON ADDITIONAL FINANCING

Columbia  must  obtain financing to fund the expansion of operations and to meet
obligations  as  they  become due.  Such outside financing must be provided from
the  sale  of  equity  or  third  party  financing.  Further, the sale of equity
securities will dilute our existing stockholders' interests, and borrowings from
third  parties  could  result  in our assets being pledged as collateral.  It is
possible  our  operations  could  be  restricted if loan terms increase our debt
service  requirements.  There  is  no  assurance that we can obtain financing on
favorable  terms.

                                      -2-
<PAGE>

GOVERNMENT REGULATION

The  facilities  are  subject to regulation and licensing by federal agencies as
well  as  to  licensing  and  regulation  by state and local health, sanitation,
safety,  fire,  and other departments. Difficulties or failures in obtaining and
retaining  the  required  licensing  or  approval  could  result  in  delays  or
cancellation  of  operations  as  well  as  fines.

The  Company and its facilities are subject to various federal, state, and local
environmental  regulations. Compliance with applicable environmental regulations
is  not  believed to have any material effect on capital expenditures, earnings,
or  the  competitive  position  of  the  Company.  Estimated  expenditures  for
environmental  compliance  matters  are  not  material.

ANTICIPATED LOSSES FOR THE FORESEEABLE FUTURE

The  Company has not achieved profitability to date, and the Company anticipates
that it will continue to incur net losses for the foreseeable future. The extent
of  these losses will depend, in part, on the amount of the Company's growth. As
of  December 31, 2003, the Company had an accumulated deficit of $1,415,766. The
Company  will  need  to generate increased revenues to achieve profitability. To
the  extent  that  increases  in  its  operating  expenses  precede  or  are not
subsequently followed by commensurate increases in revenues, or that the Company
is  unable  to  adjust  operating  expense  levels  accordingly,  the  Company's
business,  results of operations and financial condition would be materially and
adversely  affected.  There can be no assurances that the Company can achieve or
sustain  profitability  or that the Company's operating losses will not increase
in  the  future.

COMPETITION WITHIN BAKERY INDUSTRY

The  Company  is  involved  in intense competition with other business entities,
many  of  which will have a competitive edge over the Company by virtue of their
stronger  financial  resources  and  prior  experience  in  business.

The  packaged  bakery  products business is highly competitive. There is intense
price,  product,  and  service  competition with respect to all of the Company's
products.  Competition  is  based  on  product  quality,  price,  brand loyalty,
effective  promotional  activities,  and  the  ability  to  identify and satisfy
emerging  consumer  preferences.  Customer  service,  including  frequency  of
deliveries  and  maintenance  of  fully  stocked  shelves,  also is an important
competitive  factor  and  is  central  to the competition for retail shelf space
among  fresh-baked  goods  manufacturers.  Certain  market  areas  of  the fresh
baked-goods  business  continue  to  exhibit  lower  margins  due  to  regional
differences  in  price  levels,  product  mix,  and  input  costs.

The  Company competes with other national and regional wholesale bakeries, large
grocery  chains, small retail bakeries, and many producers of alternative foods.
The  identities  and  number  of  competitors  vary  from  market  to  market.

RISKS ASSOCIATED WITH NEW SERVICES, FEATURES AND FUNCTIONS

As  the  Company develops its new business strategies, there can be no assurance
that  the  Company would be able to expand its operations in a cost-effective or
timely manner or that any such efforts would maintain or increase overall market
acceptance.  Furthermore,  any  new business launched by the Company that is not
favorably received by consumers could damage the Company's reputation. Expansion
of  the  Company's  operations  in  this  manner  would also require significant
additional  expenses  and  development,  Company's  management,  financial  and
operational  resources.  The lack of market acceptance of the Company's products
would  result  in  the Company's inability to generate satisfactory revenues and
its  inability to offset their costs could have a material adverse effect on the
Company's  business,  results  of  operations  and  financial  condition.

                                      -3-
<PAGE>

POTENTIAL FLUCTUATIONS IN OPERATING RESULTS; QUARTERLY FLUCTUATIONS

The  Company's  operating results may fluctuate significantly in the future as a
result of a variety of factors, many of which are outside the Company's control.
See  "Limited  Operating  History."  As  a  strategic response to changes in the
competitive  environment, the Company may from time to time have to make certain
pricing,  marketing  decisions  or  acquisitions  that  could  have  a  material
short-term  or  long-term  adverse  effect on the Company's business, results of
operations  and  financial  condition.

There  can  be  no assurance that such patterns will not have a material adverse
effect on the Company's business, results of operations and financial condition.
There  can  be no assurance that the Company will receive any material amount of
revenue  as  it  pursues  new  business  strategies in the future. The foregoing
factors,  in  some  future quarters, may lead the Company's operating results to
fall  below  the  expectations.

RESEARCH AND DEVELOPMENT

The  Company  actively  works  to  develop  new products and to improve existing
products.  The  dollar  amounts  expended by the Company during each of the past
fiscal  year  on  such  development activities are not considered to be material
relative  to  the  Company's  overall  business  and  operations

EMPLOYEES

As  of  May  6,  2004,  Columbia has 22 full-time employees, including executive
officers,  non-executive  officers, secretarial and clerical personnel and field
personnel.

ITEM  2.  DESCRIPTION  OF  PROPERTY

The Company's corporate headquarters are located at:  319 Clematis Street, Suite
211, West Palm Beach, Florida 33401. The 1650 square foot office space is rented
at a cost of $1500 per month. The Company also leases an 8000 square feet retail
and bakery facility at 109 Kean Street, West Babylon, New York 11704 for a
monthly fee of $4400 per month.

ITEM 3.  LEGAL PROCEEDINGS

As  of  the  date  hereof,  Columbia  is  not  a  party  to  any  material legal
proceedings,  and  none  are  known  to  be  contemplated  against  Columbia.

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

None

ITEM 5.  MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

The  following  table  sets forth certain information as to the high and low bid
quotations quoted on the OTC Bulletin Board for 2002 and 2003.  Information with
respect  to  over-the-counter  bid quotations represents prices between dealers,
does  not  include  retail  mark-ups,  markdowns  or  commissions,  and  may not
necessarily  represent  actual  transactions.

<TABLE>
<CAPTION>


                                                Period         High          Low
                                               --------       ------        -----
                                                 2002
<S>                <C>                          <C>
First Quarter                                                 .055          .055
Second Quarter                                                .09           .052
Third Quarter                                                 .04           .04
Fourth Quarter                                                .02           .017

                                                 2003

First Quarter                                                 .66           .12
Second Quarter                                                .6            .09
Third Quarter                                                 .1            .02
Fourth Quarter                                                .065          .007
</TABLE>


The  bid  price  of  our common stock was $.005 per share on May 6, 2004 and had
approximately  196  certificate  shareholders  of  record  as  of  May  6, 2004.

                                      -4-
<PAGE>

SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS FOR FISCAL
YEAR ENDED DECEMBER 31, 2003

<TABLE>
<CAPTION>


                       Number of Securities to   Weighted-average price     Number of Securities
                       be issued upon exercise   of outstanding options   remaining available for
                       of outstanding options,     warrants and rights     future issuance under
                         warrants and rights                                equity compensation
                                                                              plans(excluding
                                                                          securities reflected in
                                                                                column (a))
---------------------  ------------------------  -----------------------  ------------------------
                                 (a)                       (b)                      (c)
---------------------  ------------------------  -----------------------  ------------------------
<S>                    <C>                       <C>                      <C>
Equity compensation
plans approved by                           -0-                      -0-                       -0-
security holders
---------------------  ------------------------  -----------------------  ------------------------
Equity compensation
plans not approved by                       -0-                      -0-                       -0-
security holders
---------------------  ------------------------  -----------------------  ------------------------
TOTAL                                       -0-                      -0-                       -0-
---------------------  ------------------------  -----------------------  ------------------------
</TABLE>


OUR TRANSFER AGENT IS:

Pacific Stock Transfer
500 E. Warm Springs Road, Suite 240
Las Vegas, NV  89119
Phone (702) 361-3033
Facsimile (702) 433-1979

DIVIDENDS

We presently intend to retain future earnings to support our growth. Any payment
of  cash  dividends  in  the  future will be dependent upon: the amount of funds
legally  available, our earnings; financial condition; capital requirements; and
other  factors  which  our  Board  of  Directors  deems  relevant.

                                      -5-
<PAGE>

                                     PART II

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

The following is a discussion of our financial condition, results of operations,
liquidity  and  capital resources. This discussion should be read in conjunction
with  our  Consolidated  Financial  Statements  and  the  notes thereto included
elsewhere  in  this  Form  10-KSB.

FORWARD-LOOKING INFORMATION-GENERAL

The  statements  contained herein and other information contained in this report
may  be  based,  in  part,  on  management's  estimates,  projections, plans and
judgments.  These  forward-looking  statements  are subject to certain risks and
uncertainties  that  could  cause  actual  results  to  differ  materially  from
historical  results  or  those  anticipated.  In  this  report,  the  words
"anticipates",  "believes",  "expects",  "intends", "future", "plans", "targets"
and  similar  expressions  identify  forward-looking  statements.  Readers  are
cautioned  not  to  place  undue  reliance  on  the  forward-looking  statements
contained  herein. The Company undertakes no obligation to publicly revise these
forward-looking  statements  to  reflect  events or circumstances that may arise
after  the  date  hereof.  Additionally,  these  statements are based on certain
assumptions  that  may  prove  to  be erroneous and are subject to certain risks
including,  but  not  limited  to,  the  Company's  dependence  on  limited cash
resources,  its  dependence on certain key personnel within the Company, and its
ability to raise additional capital. The Company's ability to generate long-term
value  for  the  common  stockholder  is dependent upon the Company's ability to
increase  cash  flow.  There  are  many  companies  participating  in the bakery
industry,  many  with  resources greater than the Company.  The Company believes
that it will be able to compete in this environment; however, it is not possible
to predict competition or the effect this will have on the Company's operations.
The  Company's  operations are also significantly affected by factors, which are
outside  the  control  of  the Company.  Accordingly, actual results may differ,
possibly  materially,  from  the  predictions  contained  herein.

CRITICAL  ACCOUNTING  POLICIES  AND  ESTIMATES

The  Company's discussion and analysis of its financial condition and results of
operations are based upon its consolidated financial statements, which have been
prepared  in  accordance  with  generally  accepted accounting principles in the
United  States.  The  preparation  of  these  financial  statements requires the
Company  to  make  estimates  and  judgments that affect the reported amounts of
assets,  liabilities, revenue and expenses, and related disclosure of contingent
assets  and  liabilities.  On  an  ongoing  basis,  the  Company  evaluates  its
estimates.  The  Company  bases  its  estimates  on historical experience and on
various  other  assumptions  that  are  believed  to  be  reasonable  under  the
circumstances.  These  estimates  and  assumptions  provide  a  basis for making
judgments  about  the  carrying  values  of  assets and liabilities that are not
readily  apparent  from  other  sources.  Actual  results  may differ from these
estimates  under  different assumptions or conditions, and these differences may
be  material.

The  Company believes the following critical accounting policies affect its more
significant  judgments and estimates used in the preparation of its consolidated
financial  statements.


GENERAL

Columbia Bakeries, Inc. ("Columbia" or the "Company"), a Nevada corporation, was
organized on October 6, 1998. Columbia is located at 319 Clematis Street, Suite
211, West Palm Beach, Florida 33401.

Columbia  is  a  publicly  traded  company listed on the OTC Electronic Bulletin
Board  under  the  symbol  "CBBS".

                                      -6-
<PAGE>

The  Company is in the business of producing and distributing bakery products in
the  New  York  area and along the Northeast Corridor. At present, the principal
products  produced  are  croissants,  Danish  pastries  and  related  specialty
products.  The  Company  purchases  frozen, unbaked products from various US and
Canadian producers, bakes off these products and sells them principally to major
jobbers and commissaries in the greater New York area. The Company also produces
and  sells  its  products  on a private label basis to other specialty bakeries.
Producing  properties  may  be  resold  as appropriate to establish and maintain
optimum  asset  value.

Since  its  inception, the Company has suffered recurring losses from operations
and has been dependent on existing stockholders and new investors to provide the
cash  resources  to sustain its operations.  During the years ended December 31,
2003  and  2002,  the  Company  reported net losses and negative cash flows from
operations  as  follows:

                                            2003              2002
                                        ------------       -----------
Net loss                                $ 1,099,363         $433,140
Net loss per share                      $     .026          $   .018

The Company's continuing negative operating results have produced an accumulated
deficit  of  $1,532,503  at  December 31, 2003.  These factors raise substantial
doubt  about  the  Company's  ability  to  continue  as  a  going  concern.
The Company's long-term viability as a going concern is dependent on certain key
factors,  as  follows:

-    The Company's ability to continue to obtain sources of outside financing to
     support  near  term  operations.

-    The  Company's  ability  to  increase profitability and sustain a cash flow
     level  that  will  ensure  support  for  continuing  operations.


RESULTS OF OPERATIONS

Revenues  were $140,721 in 2003 compared to $228,965 in 2002. Revenues decreased
substantially  in  2003  as  the  management  focused its attention on obtaining
requisite  capital  to  continue  operations  and  to  reorganizing the existing
facility,  which included the relocation of their retail and production facility
in  June  of 2003 where the Company current operates. However, the relocation of
this  facility  did  not  result  in  an  increase  in revenue but did result in
substantially  increased  expenses.

COMPARISON OF YEAR ENDED DECEMBER 31, 2003 TO YEAR ENDED DECEMBER 31, 2002.

While  revenues  decreased in 2003, the cost of goods sold increased to $198,838
in  2003  from  $115,957  in 2002 resulting in a gross loss of $58,117 and a net
loss of $1,099,363 in 2003 compared to a gross profit of $113,008 and a net loss
of  $433,140  in  2002.

General  and administrative expenses increased by approximately 115% to $616,915
in 2003 from $286,398 in 2002. This increase was related to an increase in legal
and  professional  fees  as  the  Company  acquired  Brooklyn  Pastry,  Inc.

Rent and other general and administrative expenses also increased as the Company
moved  their  bakery  on  June 1, 2003 to an 8,000 square foot retail and bakery
facility  at  109  Kean  Street,  West  Babylon, New York 11704 and is currently
operating  from  that  location.

Consulting fees also increased by approximately 85% to $352,715 in 2003 compared
to  $190,000  in  2002.  The  majority of the increase was related to a $150,000
payment  to  Colbake  Holdings  (see  "Affiliated  Transactions").

Selling  expenses  also  increased  to  $71,616  in  2003 from $6,250, which was
related  to  a  factoring  agreement.

                                      -7-
<PAGE>

LIQUIDITY AND CAPITAL RESOURCES

The  Company  currently  has  $1,911 in cash at December 31, 2003 and $19,642 in
current assets and total current liabilities of $1,136,354. The Company needs to
raise  additional  funds  to  meet  its  cash  requirements in order to continue
operations.  There  can  be no assurance that any such financing can be obtained
or,  if  obtained,  that  it  will be on reasonable terms. If the Company cannot
raise  additional  capital,  it  will  not  be  able  to  continue  in operation

There  can  be  no assurance that any of the plans developed by the Company will
produce  cash  flows  sufficient  to  ensure its long-term viability or that the
Company  will be able to additional private placements, debt financing or equity
investment  in  order  to  continue  operations.

OFF  BALANCE  SHEET  ARRANGEMENT

During  the  year  ended December 31, 2003, the Company had no off balance sheet
arrangements.

2004  OUTLOOK

In  2003, the Company developed a plan and took actions to improve its financial
position  and  deal  with its liquidity problems. In the first step of the plan,
the  Company  retained new management and started a focused approach on reducing
consulting  fees  and  general  and administrative costs. The final steps of the
plan are still being developed, but may include additional private placements of
the  Company's  common  stock  or  efforts to raise additional debt financing or
equity investments. There can be no assurance that any of the plans developed by
the Company will produce cash flows sufficient to ensure its long-term viability
as  a  going  concern.

                                      -8-
<PAGE>

ITEM 7.  FINANCIAL STATEMENTS

The financial statements of the company are set forth beginning on page F-1.



               COLUMBIA BAKERIES, INC. (FORMERLY ECOM CORPORATION)


                        CONSOLIDATED FINANCIAL STATEMENTS
             FOR THE YEAR ENDED DECEMBER 31, 2003 AND FOR THE PERIOD
             FROM MAY 28, 2002 (INCEPTION) THROUGH DECEMBER 31, 2002




                                    CONTENTS
                                    --------

                                                                        Page
                                                                        ----

Report of Independent Certified Public Accountants                       F-2

Balance Sheet                                                            F-3

Statements of Operations                                                 F-4

Statements of Changes in Shareholders' Deficit                           F-5

Statements of Cash Flows                                                 F-6

Notes to Financial Statements                                         F-7-18

                                      F-1

<PAGE>

                INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS' REPORT
                ------------------------------------------------

To the Board of Directors and Shareholders
Columbia Bakeries, Inc.
f/k/a eCom Corporation

We  have  audited  the  accompanying  consolidated  balance  sheet  of  Columbia
Bakeries,  Inc.  f/k/a  eCom Corporation as of December 31, 2003 and the related
consolidated statement of operations, changes in shareholders' deficit, and cash
flows  for  the  year  ended  December  31,  2003.  These consolidated financial
statements  are  the  responsibility  of  the  Company's  management.  Our
responsibility  is  to express an opinion on these financial statements based on
our  audit.  The  consolidated  financial  statements of Columbia Bakeries, Inc.
f/k/a  eCom  Corporation  as of and for the period from May 28, 2002 (inception)
through  December 31, 2002 were audited by other auditors whose report dated May
14,  2003,  on those statements included an explanatory paragraph that described
the  consolidated  financial  statements were prepared assuming that the Company
will  continue  as  a  going  concern  and  those statements did not include any
adjustments  resulting  from  that  uncertainty.

We  conducted our audit in accordance with auditing standards generally accepted
in  the  United  States  of  America.  Those  standards require that we plan and
perform  the  audit  to  obtain reasonable assurance about whether the financial
statements  are free of material misstatement. An audit includes examining, on a
test  basis,  evidence  supporting  the amounts and disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made  by  management,  as well as evaluating the overall
financial  statement  presentation.  We  believe  that  our  audit  provides  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 Columbia Bakeries, Inc. f/k/a
eCom  Corporation  as of December 31, 2003 and the results of its operations and
its  cash flows for the year then ended in conformity with accounting principles
generally  accepted  in  the  United  States  of  America.

These  financial  statements  have  been prepared assuming that the Company will
continue as a going concern. As discussed in Note 2 to the financial statements,
the  Company  has  operating and liquidity concerns, has incurred an accumulated
deficit  of approximately $1,532,000 through the period ended December 31, 2003,
and  current  liabilities exceeded current assets by approximately $1,304,000 at
December 31, 2003.  These conditions raise substantial doubt about the Company's
ability  to continue as a going concern.  Management's plans as to these matters
are  also  described  in  Note  2.  The  financial statements do not include any
adjustments  to  reflect  the  possible future effects on the recoverability and
classification  of  assets or the amounts and classification of liabilities that
may  result  from  the  outcome  of  these  uncertainties.

JEWETT,  SCHWARTZ  &  ASSOCIATES
Hollywood, Florida April 29, 2004

                                      F-2

<PAGE>

<TABLE>
<CAPTION>

                            COLUMBIA BAKERIES, INC.
                           (FORMERLY ECOM CORPORATION)
                           CONSOLIDATED BALANCE SHEET
                                DECEMBER 31, 2003


                                     ASSETS

CURRENT ASSETS
<S>                                                               <C>
Cash                                                              $     1,911
Accounts Receivable, net of
 allowance for doubtful accounts of $11,433                             2,871
Inventories                                                            12,100
Prepaid expenses                                                        2,760
Total Current Assets                                                   19,642
FURNITURE AND EQUIPMENT, net                                          270,050
OTHER ASSETS                                                           13,393

TOTAL ASSETS                                                      $   303,085

                 LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)

                                  LIABILITIES

CURRENT LIABILITIES
Notes payable in default                                          $   523,400
Convertible notes and debentures in default                           498,417
Accounts payable and accrued expenses                                 100,997
Note payable - related party                                           13,540
Total Current Liabilities                                           1,136,354

Long-term debt, net of current portion                                 76,100

TOTAL LIABILITIES                                                   1,212,454

                              SHAREHOLDERS' DEFICIT

Preferred stock, $0.001 par value; 5,000,000 shares authorized,
1,667 shares of Series A issued and outstanding                             2
Common stock, $0.001 par value; 300,000,000 shares authorized,
128,495,473 issued and outstanding                                    137,130
Additional paid-in capital                                            486,002
Accumulated deficit                                                (1,532,503)

TOTAL SHAREHOLDERS' DEFICIT                                          (909,369)

TOTAL LIABILITIES AND
SHAREHOLDERS' DEFICIT                                             $   303,085
                                                                  ------------
</TABLE>



   See accompanying accountants' report and notes to the financial statements.

                                      F-3

<PAGE>

<TABLE>
<CAPTION>

                            COLUMBIA BAKERIES, INC.
                          (FORMERLY ECOM CORPORATION)
                      CONSOLIDATED STATEMENTS OF OPERATIONS

                                                                 For the period
                                      For the year               May 28, 2002
                                         ended,                (inception)through
                                      December 31                 December 31
                                         2003                         2002
<S>                                  <C>

Revenues, net $ 140,721 228,965

Cost of goods sold                      198,838                        115,957

GROSS PROFIT (LOSS)                     (58,117)                       113,008

Operating Expenses
General and administrative expenses     616,915                        286,398
Selling expenses                         71,616                          6,250
Consulting                              352,715                        190,000
Startup and organizational costs              -                         63,500

Total Operating Expenses              1,041,246                        546,148

Net loss before taxes                (1,099,363)                      (433,140)

Income taxes                                  -                              -

NET LOSS

Net loss per share -
basic and diluted                   $(1,099,363)                     $(433,140)
                                    ============                     ===========
Weighted average shares outstanding -
basic and diluted                        $(0.26)                        $(0.18)
                                    ============                     ===========

                                      4,165,000                      2,461,000
                                    ============                     ===========



</TABLE>

   See accompanying accountants' report and notes to the financial statements.

                                       F-4
<TABLE>
<CAPTION>
                                                          COLUMBIA BAKERIES, INC.
                                                        (FORMERLY ECOM CORPORATION)

                                        CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' DEFICIT


                              Convertible Preferred Stock            Common Stock
                              5,000,000 shares authorized     300,000,000 shares authorized
                              ------------------------------------------------------------     Additional
                              Shares      Par Value            Shares       Par Value           Paid-In    Accumulated
                              Issued  $.001 per share          Issued   $.001 per share         Capital       Deficit      Total
                            ---------  ---------------        --------  ---------------         -------    ----------     ---------
<S>                                       <C>                                   <C>
BALANCE - MAY 28, 2002
(INCEPTION)                       -     $         -         34,924,190       $ 34,924            $    -    $       -     $  34,924
Common stock issued upon
inception of Columbia
Bakeries, Inc.                    -               -        151,628,300        151,628                 -            -       151,628

Common stock issued for
consulting services in
October 2002                      -               -          3,000,000          3,000             147,000          -       150,000

Common stock issued for
consulting services in
November 2002                     -               -          1,000,000          1,000              39,000          -        40,000

Net loss for the period from
May 28, 2002 (inception)
through December 31, 2002         -               -                -                -                  -       (433,140)  (433,140)
                            ---------  ---------------    ------------  ---------------       -----------  ------------   ---------

BALANCE -
DECEMBER 31, 2002          $      -     $         -        190,552,490      $ 190,552           $ 186,000    $ (433,140) $ (56,588)

Common stock issued for
cash in January 2003 at
$0.005 per share in
accordance with consulting
and marketing license
agreement                         -               -          9,000,000          9,000              36,000          -        45,000

Rescission of common stock
of Colbake Holdings, Inc.
in March 2003                     -               -        (10,000,000)       (10,000)                 -           -       (10,000)

Common stock issued to Colbake
Holdings, Inc. in March 2003      -               -          4,250,000          4,250                  -           -         4,250

Common stock issued in March 2003
for assignment of lease, transfer
of interest in furniture, fixtures
and equipment and consulting
services                          -               -          5,750,000          5,750              42,899          -        48,649

Convertible preferred stock
issued for cash in April 2003
at $30.00 per share            1,667             2                 -                -              49,998           -       50,000

Warrants issued with the sale
of preferred stock in
April 2003                        -              -                 -                -             100,000           -      100,000

Thirty-for-one reverse stock split
In June 2003                      -              -        (192,900,483)      (192,900)                 -            -     (192,900)

Common stock issued at par value
in June 2003 and placed into escrow
of HEM Mutual Assurance for the
acquisition of Brooklyn
Pastry, Inc.                      -              -          50,000,000         50,000                  -             -      50,000

Common stock roundup of
fractional shares in June
and July 2003 as a result of
thirty-for-one
reverse stock split               -              -                 132              -                  -             -           -

Common stock issued for
professional services in
July 2003                         -              -              10,000             10               9,990            -      10,000

Common stock issued upon
conversion of convertible
note in July 2003                 -              -             166,667            166               9,834            -      10,000

Common stock issued to
Colbake Holdings, LLC in
September 2003                    -              -           1,666,667          1,667              48,333            -      50,000

Warrants expired in
October 2003                      -              -                 -               -             (100,000)           -    (100,000)

Common stock issued at par value
to HEM Mutual Assurance
with convertible debenture for
the acquisition of Brooklyn
Pastry, Inc. in June 2003         -              -          70,000,000         70,000                  -              -     70,000

Common stock issuable for
conversion of convertible
debentures                        -              -           8,635,048          8,635             102,948             -    111,583

Net loss for the year ended
December 31, 2003                 -              -                 -               -           (1,099,363)              (1,099,363)
                            ---------  ---------------    ------------  ---------------       -----------  ------------   ---------

BALANCE - DECEMBER 31, 2003    1,667    $        2         137,130,521      $ 137,130           $ 486,002   $(1,532,503) $(909,369)
                            =========  ===============    ============  ================       ==========  =============  =========

</TABLE>

   See accompanying accountants' report and notes to the financial statements.


                                      F-5

<PAGE>

<TABLE>
<CAPTION>
                                  COLUMBIA BAKERIES, INC.
                                 (FORMERLY ECOM CORPORATION)
                           CONSOLIDATED STATEMENTS OF CASH FLOWS


                                                                               For the period
                                           For the year                         May 28,2002
                                              ended,                        (inception) through
                                          December 31                           December 31
                                               2003                                 2002
                                           -----------                           -----------

<S>                                      <C>                 <C>
Cash Flows from Operating Activities:
Net Loss                                   (1,099,363)                             (433,140)
Adjustments to reconcile net loss to net
cash used by operating activities:
Allowance for doubtful accounts               (11,433)
Depreciation                                   67,034
Common stock issued for services               39,999                               341,628

Changes in operating assets and liabilities:
 Accounts receivable                           77,948                               (69,386)
 Inventories                                  (12,100)
 Prepaid expenses                              (2,760)                              (2,300)
 Accounts payable and accrued expenses         11,347                               89,650
                                           -----------                           -----------
Net cash used by operating activities        (929,328)                             (73,548)
                                           -----------                           -----------

Cash Flows from Investing Activities:
Purchase of trademarks                        (11,093)
Purchases of baking equipment                (287,874)                             (49,210)
                                           -----------                           -----------
Net cash used by investing activities        (298,967)                             (49,210)
                                           -----------                           -----------

Cash Flows from Financing Activities:
Sale of preferred stock Proceeds from
issuance of notes payable                   1,173,040                               50,000
Proceeds from issuance of convertible
Debentures                                         -                                    -
Repayment of loan payable to shareholder      (63,660)                              63,660
Sale of preferred stock                        50,000
Sale of common stock                           45,000                               34,924
                                           -----------                           -----------
Net cash provided by financing activities   1,204,380                              148,584
                                           -----------                           -----------

Net Decrease in Cash and Cash Equivalents     (23,915)                              25,826

Cash and Cash Equivalents, Beginning           25,826
                                           -----------                           -----------
Cash and Cash Equivalents, Ending               1,911                            $  25,826
                                           ===========                           ===========

</TABLE>


   See accompanying accountants' report and notes to the financial statements.

                                       F-6

<PAGE>

                             COLUMBIA BAKERIES, INC.
                           (FORMERLY ECOM CORPORATION)

                        NOTES TO THE FINANCIAL STATEMENTS
             FOR THE YEAR ENDED DECEMBER 31, 2003 AND FOR THE PERIOD
             FROM MAY 28, 2002 (INCEPTION) THROUGH DECEMBER 31, 2002

NOTE  1  -  ORGANIZATION  OF  BUSINESS

The  Company was organized on October 6, 1998 as eCom Corporation under the laws
of  the  State  of  Nevada. On May 28, 2002, the eCom Corporation consummated an
acquisition  agreement  with  Columbia  Bakeries,  Inc. whereby eCom Corporation
agreed  to  issue 151,628,300 shares of its common stock in exchange for 100% of
the  outstanding shares of Columbia Bakeries, Inc. The acquisition agreement was
accounted  for  using the purchase method of accounting as applicable to reverse
acquisitions  and  the former stockholders of Columbia Bakeries, Inc. controlled
the  common  stock  of  eCom  Corporation  immediately  upon  conclusion  of the
transaction.  Under  reverse acquisition accounting, the post-acquisition entity
was  accounted  for  as  a recapitalization of the eCom Corporation Company. The
common  stock  issued  was recorded at $151,628, the fair value of the Company's
assets  on  the  acquisition  date.

Effective May 13, 2003, the Company filed amended Articles of Incorporation with
the State of Nevada to change its name to Columbia Bakeries, Inc. The Company is
authorized  to  issue  300,000,000  shares  of $0.001 par value common stock and
5,000,000  shares  of  $0.001  par  value  preferred  stock.

NOTE  2  -  GOING  CONCERN

These  financial  statements  have  been prepared assuming that the Company will
continue  as  a  going concern. The Company's independent accountants included a
"going  concern"  paragraph  in  their audit report accompanying these financial
statements  that cautions users of the statements that the Company needs to seek
new  sources or methods of financing or revenue to pursue its business strategy.
The  financial  statements do not include any adjustments that might result from
the  outcome  of  this  uncertainty.  There can be no assurance that the Company
will be able to successfully acquire the necessary capital investment or revenue
to continue their on-going efforts and continue operations. These factors, among
others, create an uncertainty about the Company's ability to continue as a going
concern.

NOTE  3  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES

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 revenue and expenses during the reporting period. Actual
results  could  differ  from  those  estimates.

                                      F-7
<PAGE>

                             COLUMBIA BAKERIES, INC.
                           (FORMERLY ECOM CORPORATION)

                        NOTES TO THE FINANCIAL STATEMENTS
             FOR THE YEAR ENDED DECEMBER 31, 2003 AND FOR THE PERIOD
             FROM MAY 28, 2002 (INCEPTION) THROUGH DECEMBER 31, 2002

Cash  and  Cash  Equivalents
----------------------------

Company  considers  all highly liquid debt securities purchased with original or
remaining  maturities  of  three  months  or  less  to  be cash equivalents. The
carrying  value  of  cash  equivalents  approximates  fair  value.

Fair  value  of  Financial  Instruments
---------------------------------------

Fair  value estimates discussed herein are based upon certain market assumptions
and  pertinent  information available to management as of December 31, 2003. The
respective  carrying  value  of  certain  on-balance-sheet financial instruments
approximated  their  fair  values.  These financial instruments include cash and
accounts  payable.  Fair  values were assumed to approximate carrying values for
cash  and  payables  because  they  are  short term in nature and their carrying
amounts  approximate  fair  values  or  they  are  payable  on  demand.

Accounts  Receivable,  net
--------------------------

The Company performs ongoing credit evaluations of customers, and generally does
not  require  collateral.  Allowances are maintained for potential credit losses
and  returns  and  such  losses  have  been  within  management's  expectations.

Credit  Risk
------------

It is the Company's practice to place its cash equivalents in high quality money
market  securities  with one major banking institution.  Certain amounts of such
funds are not insured by the Federal Deposit Insurance Corporation. However, the
Company  considers  its credit risk associated with cash and cash equivalents to
be minimal.  During 2003, the Company had sales to two customers that totaled an
aggregate  of  41%  of  gross  revenues.


                                      F-8
<PAGE>


                             COLUMBIA BAKERIES, INC.
                           (FORMERLY ECOM CORPORATION)

                        NOTES TO THE FINANCIAL STATEMENTS
             FOR THE YEAR ENDED DECEMBER 31, 2003 AND FOR THE PERIOD
             FROM MAY 28, 2002 (INCEPTION) THROUGH DECEMBER 31, 2002

Inventories
-----------

Inventories  consist primarily of frozen, unbaked products and are stated at the
lower  of  cost  or  market value using the first in, first out (FIFO) method of
accounting.

Property  and  Equipment,  net
------------------------------

Furniture  and  equipment are recorded at cost, net of accumulated depreciation.
Depreciation  expense  is  computed using the straight-line method of accounting
over  the estimated useful lives of the assets ranging from three to five years.

Intangible  Assets,  net
------------------------

Intangible assets consist primarily of trademarks, whereby the Company incurred
registration and legal fees of approximately $11,000 to license private label
specialty products. Amortization expense is computed using the straight-line
method of accounting over the life of the trademark, 15 years.  Estimated
amortization expense for each of the years ended December 31, 2004 through 2009
will be approximately $700.

Impairment  of  Long-Lived  Assets
----------------------------------

Long  lived  assets  held  and  used  by  the  Company are reviewed for possible
impairment  whenever  events  or  circumstances indicate the carrying amounts of
assets  may  not  be  recoverable  or  are  impaired.

Income  Taxes
-------------

The  Company  uses the asset and liability method of accounting for income taxes
as required by SFAS No. 109 "Accounting for Income Taxes". SFAS No. 109 requires
the  recognition  of deferred tax assets and liabilities for the expected future
tax  consequences  of temporary differences between the carrying amounts and the
tax  basis  of  certain assets and liabilities. Since its inception, the Company
has  incurred  net operating losses. Accordingly, no provision has been made for
income  taxes.

Revenue  Recognition
--------------------

Sales  and the related cost of sales are recognized upon shipment of products in
accordance  with  the  US  Securities  and  Exchange Commission Staff Accounting
Bulletin  No. 101. The Company generally accepts returns of bakery products that
are  stale  or  damaged in transit. Sales revenue is recorded net of anticipated
returns  based on historical experience. Sales returns in the ordinary course of
business  are  not  material  to  the  financial  statements.

                                      F-9
<PAGE>

                             COLUMBIA BAKERIES, INC.
                           (FORMERLY ECOM CORPORATION)

                        NOTES TO THE FINANCIAL STATEMENTS
             FOR THE YEAR ENDED DECEMBER 31, 2003 AND FOR THE PERIOD
             FROM MAY 28, 2002 (INCEPTION) THROUGH DECEMBER 31, 2002

Advertising  Costs
------------------

The  Company expenses all costs of advertising as incurred. There were $6,250 in
advertising  costs  included in selling, general and administrative expenses for
the  period  ended  December  31,  2002.

Stock-Based  Compensation:
-------------------------

The  Company  accounts  for stock options issued to employees in accordance with
the  provisions  of  Accounting  Principles  Board  ("APB")  Opinion  No.  25,
"Accounting  for  Stock  Issued  to Employees," and related interpretations.  As
such,  compensation  cost  is measured on the date of grant as the excess of the
current  market  price  of  the  underlying  stock over the exercise price. Such
compensation  amounts  are  amortized over the respective vesting periods of the
option  grant.  The  Company  adopted  the disclosure provisions of SFAS No. 123
"Accounting  for  Stock-Based  Compensation,"  and  SFAS No. 148 "Accounting for
Stock Based Compensation - Transition and Disclosure," which permits entities to
provide  pro  forma  net  income  (loss) and pro forma earnings (loss) per share
disclosures  for employee stock option grants as if the fair-valued based method
defined  in  SFAS  No.  123  had  been  applied.

The  Company  accounts for stock options or warrants issued to non-employees for
goods  or  services in accordance with the fair value method of SFAS 123.  Under
this  method,  the  Company  records  an  expense equal to the fair value of the
options  or warrants issued. The fair value is computed using an options pricing
model.

Earnings  (Loss)  Per  Share
----------------------------

Basic  net income (loss) per common share is computed using the weighted average
number  of  common  shares  outstanding  during the periods.  Diluted net income
(loss)  per  share  is  computed using the weighted average number of common and
dilutive  common  equivalent  shares  outstanding  during  the  period.

Recent  Accounting  Pronouncements
----------------------------------

The  Financial  Accounting  Standards  Board  has  recently  issued  several new
accounting  pronouncements  which  may  apply  to  the  Company.
Statement  No.  145, "Rescission of FASB Statements No. 4, 44, and 64, Amendment
of  FASB  Statement  No. 13, and Technical Corrections," updates, clarifies, and
simplifies  existing  accounting  pronouncements.  Statement  No.  145  rescinds
Statement  4, which required all gains and losses from extinguishment of debt to
be  aggregated  and,  if

                                      F-10
<PAGE>

                             COLUMBIA BAKERIES, INC.
                           (FORMERLY ECOM CORPORATION)

                        NOTES TO THE FINANCIAL STATEMENTS
             FOR THE YEAR ENDED DECEMBER 31, 2003 AND FOR THE PERIOD
             FROM MAY 28, 2002 (INCEPTION) THROUGH DECEMBER 31, 2002

material, classified as an extraordinary item, net of related income tax effect.
As a result, the criteria in Opinion 30 will now be used to classify those gains
and  losses.  Statement  64  amended  Statement  4,  and  is no longer necessary
because  Statement  4  has  been rescinded. Statement 44 was issued to establish
accounting  requirements  for the effects of transition to the provisions of the
motor Carrier Act of 1980. Because the transaction has been completed, Statement
44  is  no  longer necessary.  Statement 145 amends Statement 13 to require that
certain lease modifications that have economic effects similar to sale-leaseback
transactions be accounted for in the same manner as sale-leaseback transactions.
This  amendment  is  consistent  with  FASB's  goal requiring similar accounting
treatment for transaction that have similar economic effects.  This statement is
effective  for  fiscal years beginning after May 15, 2002.  The adoption of SFAS
No.  145  is  not  expected to have a material impact on the Company's financial
position,  results  of  operations  or  liquidity.

Statement  No.  146,  "Accounting  for Exit or Disposal Activities" ("SFAS 146")
addresses  the  recognition,  measurement,  and  reporting  of  cost  that  are
associated  with  exit  and disposal activities that are currently accounted for
pursuant  to  the  guidelines set forth in EITF 94-3, "Liability Recognition for
Certain  Employee  Termination  Benefits  and  Other  Costs  to exit an Activity
(including  Certain  Cost  Incurred  in  a  Restructuring),"  cost  related  to
terminating  a  contract  that  is  not  a  capital  lease  and one-time benefit
arrangements received by employees who are involuntarily terminated - nullifying
the  guidance  under EITF 94-3. Under SFAS 146, the cost associated with an exit
or disposal activity is recognized in the periods in which it is incurred rather
than  at  the  date  the  Company committed to the exit plan.  This statement is
effective for exit or disposal activities initiated after December 31, 2002 with
earlier  application  encouraged.  The  adoption  of SFAS 146 is not expected to
have  a  material  impact  on  the  Company's  financial  position,  results  of
operations  or  liquidity.

Statement  No.  148,  "Accounting  for  Stock-Based  Compensation-Transition and
Disclosure",  amends  FASB  Statement  No.  123,  "Accounting  for  Stock-Based
Compensation."  In response to a growing number of companies announcing plans to
record  expenses  for  the  fair  value of stock options, Statement 148 provides
alternative methods of transition for a voluntary change to the fair value based
method  of  accounting  for  stock-based  employee  compensation.  In  addition,
Statement  148  amends  the  disclosure requirements of Statement 123 to require
more  prominent  and more frequent disclosures in financial statements about the
effects of stock-based compensation.  The Statement also improves the timeliness
of  those  disclosures by requiring that this information be included in interim
as well as annual financial statements.  In the past, companies were required to
make  pro forma disclosures only in annual financial statements.  The transition
guidance  and  annual  disclosure  provisions of Statement 148 are effective for
fiscal  years ending after December 15, 2002, with earlier application permitted
in  certain  circumstances.  The interim disclosure provisions are effective for

                                      F-11
<PAGE>

                           NO COLUMBIA BAKERIES, INC.
                           (FORMERLY ECOM CORPORATION)

                        NOTES TO THE FINANCIAL STATEMENTS
             FOR THE YEAR ENDED DECEMBER 31, 2003 AND FOR THE PERIOD
             FROM MAY 28, 2002 (INCEPTION) THROUGH DECEMBER 31, 2002


financial  reports containing financial statements for interim periods beginning
after  December  15,  2002.  The  Company  adopted  the disclosure provisions of
Statement 148 for the year ended December 31, 2002, but will continue to use the
method  under  APB  25  in  accounting  for  stock options.  The adoption of the
disclosure  provisions  of  Statement  148 did not have a material impact on the
Company's  financial  position,  results  of  operations  or  liquidity.

NOTE  4-  PROPERTY  AND  EQUIPMENT,  NET

Property and equipment consist of the following as of December 31,


<TABLE>
<CAPTION>

                                 2003     2002
<S>                            <C>       <C>
Baking equipment               $317,599  $49,210
Vehicles                         12,785        -
Office furniture and fixtures     6,700        -

                                337,084   49,210

Less accumulated depreciation    67,034        -

                               $270,050  $49,210

</TABLE>

Depreciation  expense  approximated  $67,034 and $0, for the year ended December
31,  2003 and for the period from May 28, 2002 (inception) to December 31, 2002,
respectively.

NOTE  5-  NOTES  PAYABLE

In  July  2003, the Company paid cash of $15,000 and issued a promissory note in
the  amount  of  $235,000  to  an  individual for the sole purpose of purchasing
baking  equipment.  The  note is non-interest bearing, and requires five monthly
payments  of  $5,000 and then thirty-one consecutive monthly payments of $6,935.
Under  the  terms  of  the  promissory  note the entire balance of principal and
interest  is due and payable in full no later than June 2006. As of December 31,
2003,  the  promissory  note was in default as no payments had been made and the
entire  balance  is  included as current liabilities in the accompanying balance
sheet.  See  Note  12.

In  July 2003, the Company entered into a consulting agreement and retained H.B.
London  &  Co.  ("HBL")  to perform non-exclusive consulting services related to
corporate  finance  and  related  matters  for  the  period  from  May  28, 2002
(inception)  through  December  31,  2002.  Under the terms of the agreement the
Company  is  required  to

                                      F-12
<PAGE>

                             COLUMBIA BAKERIES, INC.
                           (FORMERLY ECOM CORPORATION)

                        NOTES TO THE FINANCIAL STATEMENTS
             FOR THE YEAR ENDED DECEMBER 31, 2003 AND FOR THE PERIOD
             FROM MAY 28, 2002 (INCEPTION) THROUGH DECEMBER 31, 2002


compensate  HBL  an  amount  of  $150,000 due and payable in full on December 1,
2003.  At  the  Company's option, and with a payment of $9,000 in interest on or
before  the  agreement  due  date,  the  payment  of  fees may be delayed for an
additional  six  month  period through May 1, 2004. In addition, the Company may
convert  the amount due to common stock, as defined. After December 1, 2003, the
Company was in default and HBL has the option of converting the fees into common
stock at 50% of the average bid price for the prior 30 trading day period. As of
December 31, 2003, the fees were not paid or converted into common stock and the
entire  balance  of  $150,000  is  included  as  current  liabilities  in  the
accompanying  balance  sheet.

In September 2003, the Company issued a promissory note in the amount of $50,000
to  an  individual  investor. The promissory note bears interest at 8% per annum
and  is  due  on  demand.

NOTE  6  -  CONVERTIBLE  NOTES  PAYABLE

In  February  2003,  the  Company  issued  two 8% Convertible Notes, each in the
principal  amount  of  $15,000,  to individual investors for the sole purpose of
funding  ongoing  operations.  The  Convertible Notes have a 3-year term and are
convertible  into  7,500,000  shares  of  common  stock at a conversion price of
$0.002  per  share  no  earlier than six months after the date of issuance. Upon
funding in full of the Convertible Notes, each investor will be granted a 90-day
option  to  purchase an additional 8% Convertible Note in the amount of $15,000,
with  the  same  terms set forth above, with the exception that each Convertible
Note  is convertible into 3,750,000 shares of common stock at a conversion price
of  $0.004  per share. Upon funding in full of the additional Convertible Notes,
each  investor  will  then  be  granted  a 90-day option to purchase one more 8%
Convertible  Note in the amount of $25,000, with the same terms set forth above,
with  the  exception  that  each  Convertible Note is convertible into 4,166,666
shares  of  common  stock  at  a  conversion  price  of  $0.006  per  share.

In April 2003, the Company issued a 12% Convertible Note in the principal amount
of  $10,000,  to  an individual investor for the sole purpose of funding ongoing
operations.  The  Convertible  Note  has  a  60-day term and is convertible into
166,667  (post-split)  shares of common stock at a conversion price of $0.06 per
share.  The  principal  amount  may  only  be  converted  in  its  entirety.

In  June  2003,  the  Company  issued  an additional 12% Convertible Note in the
principal  amount  of $15,000, to an individual investor for the sole purpose of
funding  ongoing  operations.  The  Convertible  Note  has  a 60-day term and is
convertible  into  250,000  (post-split)  shares of common stock at a conversion
price  of  $0.06  per  share.  The principal amount may only be converted in its
entirety.  The  Note  includes  a  six-month

                                      F-13
<PAGE>

                             COLUMBIA BAKERIES, INC.
                           (FORMERLY ECOM CORPORATION)

                        NOTES TO THE FINANCIAL STATEMENTS
             FOR THE YEAR ENDED DECEMBER 31, 2003 AND FOR THE PERIOD
             FROM MAY 28, 2002 (INCEPTION) THROUGH DECEMBER 31, 2002

option  to  purchase  an  additional $25,000 convertible note. In July 2003, the
investor  advised  the  Company  that  he  was exercising his conversion option.

NOTE  7  -  ACQUISITIONS

In  July  2003,  the  Company announced its acquisition of Brooklyn Pastry, Inc.
("BPI"),  a  non-operating  Florida  corporation.  Pursuant  to  the acquisition
agreement,  the  Company  issued  266,700  shares of its $0.001 par value common
stock  in  exchange  for  100%  of the issued and outstanding shares of BPI. The
Company  also  assumed BPI's obligations to issue shares of its common stock for
convertible  debentures issued pursuant to a BPI Regulation D, Rule 504 offering
resulting  in  $500,000  of debentures now convertible into the Company's $0.001
par  value  common stock at a conversion price of $0.22 per share or the average
of  the  three lowest bid prices for the common stock within the 40 trading days
prior  to  conversion.  In addition, the Company has placed 50,000,000 shares of
its  $0.001  par  value  common  stock  into  escrow  in  the name of HEM Mutual
Assurances,  LLC.  The  shares were released pursuant to the sale of stock under
the  terms  of  the  BPI  private  placement  memorandum,  as  defined.

NOTE  8  -  RELATED  PARTY  TRANSACTIONS

In  November  2002, the Company issued a one-year Convertible Note in the amount
of  $50,000  to  Colbake  Holdings,  Inc.  in the amount of $50,000. The Note is
convertible  at  anytime  following  the sixth month after the issuance date but
prior  to  the one-year expiration date of November 11, 2003. Interest at a rate
of 8% per annum is due and payable in cash or common stock on a quarterly basis.
Under  the  terms  of  conversion, Colbake Holdings, Inc. may convert the entire
$50,000  into  1,666,667  shares  of  common  stock  of  the  Company.

During  2003,  certain directors and officers loaned the Company capital to fund
operations.  As  of  December  31,  2003  loans  due  to  officers  was $13,540.

NOTE  9  -  STOCKHOLDERS'  DEFICIT

Common  Stock  Issued  for  Services
------------------------------------

On  October  2,  2002,  the  Company  issued  3,000,000 shares of S-8 registered
free-trading  $0.001  par  value  common  stock  to  an individual pursuant to a
consulting  agreement  for services valued at $150,000, the fair market value of
the  underlying  shares.

On  November  20,  2002,  the  Company issued 1,000,000 shares of S-8 registered
free-trading  $0.001  par  value  common  stock  to  an individual pursuant to a
consulting  agreement  for  services valued at $40,000, the fair market value of
the  underlying  shares.

                                      F-14
<PAGE>

                             COLUMBIA BAKERIES, INC.
                           (FORMERLY ECOM CORPORATION)

                        NOTES TO THE FINANCIAL STATEMENTS
             FOR THE YEAR ENDED DECEMBER 31, 2003 AND FOR THE PERIOD
             FROM MAY 28, 2002 (INCEPTION) THROUGH DECEMBER 31, 2002

In  December  2002,  the  Company  entered  into a consulting agreement with the
president  of  S&J Bakery Corporation located in Astoria, New York and the owner
of  the  bakery  equipment located in the retail facility and storage. Under the
terms  of  the  agreement,  S&J Bakeries Corporation agreed to assign the retail
facility  lease  and  transfer  its  right, title and interest in all furniture,
fixtures  and  equipment to the Company. In addition, the two individuals agreed
to  operate  the  bakery  and  retail  facility  under employment agreements. In
consideration  for  the  assignment  of  the  lease,  transfer  of  interest  in
furniture,  fixtures and equipment and continued services, the Company agreed to
issue  $0.001  par value common stock individually to the president and owner in
the  amount  of 2,375,000 and 3,375,000 shares, respectively. Furthermore, under
the terms of the consulting agreement, the president and owner agreed to provide
their  full-time  services  as  employees  for  a base compensation ranging from
$1,000,  to $2,500 per week based on revenue ranging from $0 to over $75,000 per
week,  respectively.

In  January  2003,  the  Company entered into a Consulting and Marketing License
Agreement  with  a professional race car driver (hereinafter a "Consultant" with
name  recognition  in the racing car industry) in order to promote and develop a
market for the Company's products and services. Under the terms of the agreement
the  Company  granted the Consultant a non-qualified stock option to purchase up
to  a  total  dollar amount of $300,000 of common stock at an exercise price per
share  of  the  lesser of the stock price thirty-day low or 50% of the preceding
thirty-day  low.  The  option  exercise  schedule  required  the  Consultant  to
immediately  exercise $45,000 upon registration and delivery of shares and up to
$100,000  each  consecutive  month  not  to  exceed  to  total  dollar amount of
$300,000.  Upon  registration  and  delivery of shares, the Consultant exercised
$45,000  to  purchase  9,000,000 shares of common stock at a price of $0.005 per
share.  No  additional  option  has  been  exercised  as  of  December 31, 2003.

In  July  2003,  the Company issued 10,000 shares of its $0.001 par value common
stock  for  legal  services  valued  at  $10,000.

In  July  2003, the Company issued 166,667 shares of its $0.001 par value common
stock to a convertible note holder who elected to convert $10,000 of convertible
debt  to  equity.

In  September  2003, the Company issued 1,666,667 shares of its $0.001 par value
common  stock  to  Colbake  Holdings,  Inc.,  a  company owned by an officer and
director,  for  management  services  valued  at  $50,000.

Preferred  Stock  Issuance
--------------------------

In  April  2003,  the  Company  entered  into  a Convertible Preferred Stock and
Warrant  Subscription  Agreement with Harlow Enterprises, Inc. ("Harlow"). Under
the  terms  of  the  agreement,  the  Company  issued  1,667  shares of Series A
Convertible  Preferred  Stock

                                      F-15
<PAGE>

                             COLUMBIA BAKERIES, INC.
                           (FORMERLY ECOM CORPORATION)

                        NOTES TO THE FINANCIAL STATEMENTS
             FOR THE YEAR ENDED DECEMBER 31, 2003 AND FOR THE PERIOD
             FROM MAY 28, 2002 (INCEPTION) THROUGH DECEMBER 31, 2002

("Preferred  Stock")  for  an  amount  of  $50,000  and  a  Warrant  to purchase
33,333,000  shares  of  common  stock  at an exercise price of $0.003 per share,
which  is  additional  consideration  of $100,000 if all warrants are exercised.
Each  share  of  the Preferred Stock is convertible into 10,000 shares of common
stock.  In  addition, the Preferred Stock is entitled to receive dividends at an
annual  rate  of  8%  paid  quarterly  in  arrears  in cash or, at the Company's
election, in common stock valued at 80% of the closing bid price on the dividend
due  date.  Furthermore,  in  the  event  that  the Company did not consummate a
pending  investment  transaction  with  GEM  prior to June 15, 2003, as defined,
Harlow  has  the  right to exchange the Preferred Stock for a 6-month Promissory
Note  bearing  an  interest  rate  of 12% per annum. The Preferred Stock was not
converted during the fiscal year 2003 and the Warrants expired unexercised as of
December  31,  2003.

Common  Stock  Reverse  Split
-----------------------------

In  June 2003, the Company affected a 1:30 reverse split of its $0.001 par value
common  stock  resulting  in  6,652,038  shares  issued  and  outstanding.  All
references  to  share  amounts  are  retroactively restated to reflect the split
unless  otherwise  stated.

NOTE  10  -  INCOME  TAXES

The  financial  statements  reflect  a  benefit  of approximately $600,000 as of
December  31,  2003  and  a  valuation  allowance  of the same amount, since the
Company  does  not have the revenue history to support the future recognition of
the  deferred tax asset as well as potential limitations on net operating losses
further  described  below.

Utilization  of  the  net  operating  loss  carry-forwards  may  be subject to a
substantial  annual  limitation  due to ownership change limitations provided by
the Internal Revenue Code. The annual limitation may result in the expiration of
net  operating  loss  carry-forwards  before  utilization.

NOTE  11-  COMMITMENTS  AND  CONTINGENCIES

Lease  Commitments
------------------

In December 2002, the Company assumed a non-cancelable operating lease agreement
from  S&J  Bakery Corporation for a retail facility that expires in August 2012.
In July 2003, the Company assumed certain various non-cancelable operating lease
agreements  for  baking equipment. The leases expire on various dates during the
period  through  2004  with  a  total  obligation  of  $84,000.

                                      F-16
<PAGE>

                             COLUMBIA BAKERIES, INC.
                           (FORMERLY ECOM CORPORATION)

                        NOTES TO THE FINANCIAL STATEMENTS
             FOR THE YEAR ENDED DECEMBER 31, 2003 AND FOR THE PERIOD
             FROM MAY 28, 2002 (INCEPTION) THROUGH DECEMBER 31, 2002

The  Company  leases  it corporate office space under a non-cancelable operating
lease  agreement on a month-to-month basis The lease is personally guaranteed by
the  Company's  principal executive officer and rent is approximately $1,500 per
month.
The  Company  leases 7,000 square feet of retail and bakery facility in New York
on  a  month-to-month  basis.  The  rent  is  approximately  $4,400  per  month.
Minimum  future  lease  payments  for  the  next  five  years  are  as  follows:

<TABLE>
<CAPTION>

<S>       <C>

2004      $104,000
2005        21,000
2006        23,000
2007        25,000
2008       153,000
           326,000
           --------
</TABLE>



Rent  expense  for  the  year  ended  December 31, 2003 totaled to approximately
$49,900.

Contingencies
-------------

During  2003, the Company issued various 1% Convertible Debentures (collectively
referred  to  as  the  "Debentures")  that are convertible into shares of common
stock,  as  defined. In accordance with the Debentures, HEM Mutual Assurance LLC
has  provided notices of conversion for a total of 8,635,048 common stock shares
at  a  price  ranging  from  $0.01  to  $.023  per  share. These shares were not
registered  as  of  December  31,  2003.

NOTE  12  -  SETTLEMENT  AGREEMENT

In  October  2003, the Company settled a contract dispute with a Factor, whereby
the  Company  will  pay  the  Factor  an  amount of $65,943 in full and complete
satisfaction  of  any  and all claims arising from agreements dated August 2002.
Such  amount  is  payable according to certain terms, as defined, and is due and
payable  in  full by March 26, 2004. As of December 31, 2003, the settlement was
in  default  as  no payments had been made and the entire balance is included as
current  liabilities  in  the  accompanying  balance  sheet.

                                      F-17
<PAGE>

                             COLUMBIA BAKERIES, INC.
                           (FORMERLY ECOM CORPORATION)

                        NOTES TO THE FINANCIAL STATEMENTS
             FOR THE YEAR ENDED DECEMBER 31, 2003 AND FOR THE PERIOD
             FROM MAY 28, 2002 (INCEPTION) THROUGH DECEMBER 31, 2002

NOTE  13  -  SUBSEQUENT  EVENTS

In  February  2004,  the  Company  renegotiated  a forbearance agreement for the
promissory  note  of $235,000 issued under previous management and in default as
of December 31, 2003. Upon consummation of the forbearance agreement the Company
is  required  to  pay  an  amount of $25,000 and on the first day of each month,
commencing  in  April  2004, the Company is required to pay $5,000 per month for
six  months,  thereafter $5,500 per month to continue until 80% of the principal
amount  due  has  been  paid.
In  2004,  an  officer  of  the  Company purchased 1,000,000 shares of Preferred
Stock.


                                      F-18
<PAGE>

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

Beckstead  and  Watts, LLP audited the year ended December 31, 2002 and reviewed
the  quarterly  Form  10-QSB  filings  through  September 30, 2003, and the Sole
Proprietorship of G. Brad Beckstead, CPA audited the years ended 1999, 2000, and
2001.  Such  financial statements accompanied our Form 10-KSB for the year ended
December  31, 2002 and were filed with the Securities and Exchange Commission on
May  19,  2003.  The  report  of  Beckstead  and  Watts,  LLP  on such financial
statements, dated May 14, 2003, did not contain an adverse opinion or disclaimer
of  opinion  and was not qualified or modified as to uncertainty, audit scope or
accounting  principles.  Our  Board  of  Directors  approved  the  dismissal  of
Beckstead  and  Watts,  LLP  on  March  25,  2004.

Jewett  Schwartz  &  Associates,  Certified  Public  Accountants  of  Hollywood,
Florida,  were appointed by the Company on March 25, 2004 to audit our financial
statements  for  the  fiscal  year  ended December 31, 2003. During our two most
recent  fiscal  years  and  the  subsequent  interim  period  preceding  their
appointment  as  independent  accountants, neither the Company nor anyone on its
behalf  consulted  Jewett Schwartz & Associates regarding either the application
of  accounting  principles  to  a  specified  transaction,  either  completed or
proposed,  or  the type of audit opinion that might be rendered on the Company's
consolidated financial statements, nor has Jewett Schwartz & Associates provided
to  the  Company  a  written  report or oral advice regarding such principles or
audit  opinion.

ITEM 8A - CONTROLS AND PROCEDURES

     The Company's  Chief  Executive  Officer and Chief  Financial  Officer have
concluded,  based on an evaluation  conducted within 90 days prior to the filing
date of this  Annual  Report  on Form  10-KSB,  that  the  Company's  disclosure
controls and  procedures  have  functioned  effectively  so as to provide  those
officers the information necessary whether:

     (i)  this  Annual  Report on Form 10-KSB contains any untrue statement of a
material fact or omits to state a material fact necessary to make the statements
made,  in  light of the circumstances under which such statements were made, not
misleading  with  respect  to  the  period covered by this Annual Report on Form
10-KSB,  and

     (ii)  the financial statements, and other financial information included in
this  Annual  Report on Form 10-KSB, fairly present in all material respects the
financial  condition, results of operations and cash flows of the Company as of,
and  for,  the  periods  presented  in  this  Annual  Report  on  Form  10-KSB.

There  have been no significant changes in the Company's internal controls or in
other  factors  since  the  date  of  the  Chief  Executive  Officer's and Chief
Financial  Officer's  evaluation  that could significantly affect these internal
controls,  including  any  corrective  actions  with  regards  to  significant
deficiencies  and  material  weaknesses.


                                      -9-
<PAGE>

During  our  two  most  recent  fiscal  years  and any subsequent interim period
preceding  the  date of dismissal, there were no disagreements between Beckstead
and  Watts, LLP and the Company, whether resolved or not resolved, on any matter
of  accounting  principles  or  practices,  financial  statement  disclosure, or
auditing  scope  or procedure, which, if not resolved, would have caused them to
make  reference  to  the  subject  matter of the disagreement in connection with
their  reports.


                                    PART III

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

The  directors  and  officers  of  the Company, as of May 6, 2004, are set forth
below.  The  directors  hold  office  for  their respective term and until their
successors  are  duly  elected and qualified.  The officers serve at the will of
the  Board  of  Directors.


DIRECTORS AND EXECUTIVE OFFICERS

Set  forth  below  are the names, ages, positions, with the Company and business
experiences  of  the  executive  officers  and  directors  of  the  Company.

Name                       Age      Position(s) with Company
---------------------      ----     ----------------------------------
C. Frank Speight            44      Principal Executive Officer and Director
Randall Goulding            54      Principal Financial Officer and Director

All  directors  hold  office  until  the  next  annual  meeting of the Company's
shareholders  and until their successors have been elected and qualify. Officers
serve at the pleasure of the Board of Directors. The officers and directors will
devote such time and effort to the business and affairs of the Company as may be
necessary  to  perform  their  responsibilities  as  executive  officers  and/or
directors  of  the  Company.

FAMILY RELATIONSHIPS

There are no family relationships between or among the executive officers and
directors of the Company.

BUSINESS EXPERIENCE

C. FRANK SPEIGHT - Principal Executive Officer and Director Mr. Speight has been
active  in  Investment  Banking Consultancy for 13 years. He has an earned BA in
International  Business  from the Universality of South Florida (Tampa, FL), and
an  earned  Masters from Emory University (Atlanta, GA). He was the Chairman and
President  of  Dunhill  Capital, Inc. until April 10, 2004. Mr. Speight has been
involved  in  numerous  capitalizations  for  existing public companies, and the
facilitation  of  numerous private companies into the public sector. Mr. Speight
is the principal executive officer of American Capital Partners Limited, Inc., a
publicly  traded development company. He has served as Chairman/President/CEO of
publicly  traded  companies  in  the  telecommunications  and financial services
market  sectors.  In  addition, he has participated in the management of several
equity  funds  representing  over  $700  Million  (USD)  in  assets.

RANDALL  GOULDING  - Principal Financial and Accounting Officer and Director Mr.
Goulding  is  a  certified public accountant and an attorney. Mr. Goulding spent
six  years  with  the Internal Revenue Service Audit and Intelligence Divisions,
before  opening  a  private  tax  law  practice,  focusing  on income and estate
taxation  and  planning,  securities  and  litigation. His litigation experience
included  practice  before  the  United  States  Supreme Court, Illinois Supreme
Court,  State  Court,  Federal  District  Court,  the  Seventh  Circuit Court of
Appeals,  and  the  United States Tax Court. He is the Managing Director, of The
Nutmeg  Group,  L.L.C.

Mr.  Goulding  received  special commendations for his efforts with the Internal
Revenue  Service,  saving  the Internal Revenue Service substantial sums for his
design  of  new  internal  audit  and accounting procedures and controls for the
Intelligence  Division's  Special  Operations.  His  Internal  Revenue  Service
functions  also  included  television  and  radio  appearances.  Crain's Chicago
Business  Magazine  featured  an  article  on  the  "Goulding Report" reflecting
consequences  of  investments  in  solar and other renewable energy sources. Mr.
Goulding  received  a  business  administration  degree  with  a  dual  major in
accounting  and finance from the University of Illinois. He received his JD from
DePaul  Law  School.

Since  1995,  with  Paradigm Group, LLC, a full service Chicago-based investment
and  financial  consulting  organization,  Mr.  Goulding  served  as a principal
architect  of  PIPE  (Private  Investments  in  Public Equities) investments, he
negotiated  and  structured  transactions  for  Paradigm  and  its investors and
portfolio  companies.  Since 1998, he has also served as general counsel to both
Paradigm  and  Adler  Drobny  Fischer,  LLC,  Certified  Public  Accountants  &
Consultants.  Mr.  Goulding is the principal financial and accounting officer of
American  Capital Partners Limited, Inc., a publicly traded development company.

Mr. Goulding is very involved with a number of charitable organizations. He is a
personal  friend  of Father George Clements, and serves as a member of the Board
of  Directors of, and is a substantial contributor to, One Church One Family. He
has  also  played a key role in bringing these and other charitable endeavors to
the  US  Virgin  Islands.

ITEM  401(E)

The  Company  currently  does  not  have  an  audit  committee.

COMPLIANCE  WITH  SECTION  16(A)  OF  THE  EXCHANGE  ACT

Section  16(a) of the Securities Exchange Act of 1934, as amended (the "Exchange
Act")  requires  the Company's officers, directors and persons who own more than
10%  of  the  Company's Common Stock to file reports of ownership and changes in
ownership  with the SEC and the National Association of Securities Dealers, Inc.
Officers, directors and greater than 10% stockholders are required by regulation
to  furnish  the  Company with copies of all forms they file pursuant to Section
16(a)  of  the  Exchange  Act.
Based solely on the reports we have received and on written representations from
certain  reporting  persons,  we believe that the directors, executive officers,
and  our  greater  than  ten  percent  beneficial  owners have complied with all
applicable  filing  requirements  for  the  fiscal year ended December 31, 2003.

The  Company has adopted a code of ethics for its Principal Executive and Senior
Financial  Officers,  which  is  attached  hereto  as  Exhibit  14.1

                                      -10-
<PAGE>

ITEM 10.  EXECUTIVE COMPENSATION

<TABLE>
<CAPTION>




                                          SUMMARY COMPENSATION TABLE


                        Annual Compensation                              Long Term Compensation
                     -----------------------              --------------------------------------------------
                                                                   Awards                   Payouts
                                                         ----------------------------------------------------
Name and             Year     Salary  Bonus  Other Annual  Restricted  Securities     LTIP       All Other
Principal Position              ($)    ($)   Compensation   Stock     Underlying     Payouts    Compensation
                                                 ($)       award(s)    Options /       ($)
                                                           (shares)       SARs
                                                                           (#)
---------------------------------------------------------------------------------------------------------------
<S>                            <C>                               <C>
C. Frank Speight
Principal Executive  2003       N/A    N/A       N/A          N/A          N/A             N/A             N/A
Officer and
Directors
---------------------------------------------------------------------------------------------------------------
Rounsevelle
Schaum, Former      2002        N/A    N/A       N/A           N/A         N/A             N/A             N/A
President and       2003        -0-    -0-    $50,000(1)       -0-         -0-             -0-             -0-
Director
---------------------------------------------------------------------------------------------------------------
<FN>
(1)     1,666,667 restricted shares received for management services


</TABLE>

                                      -11-
<PAGE>

<TABLE>
<CAPTION>

OPTIONS/SAR GRANTS IN LAST FISCAL YEAR

               Individual Grants
---------------------------------------------------------------------------------------------------------------------------------

Name         Number of      Percent of       Exercise      Expiration       Grant Date      Present
            Securities        Total          of Base         Date                          Value ($)
            Underlying      Options /        Price
             Options/         SARs          ($/sh)
               SARs        Granted to
             Granted       Employees
              (#)          in Fiscal
                              Year
<S>                   <C>                                <C>
----------------------------------------------------------------------------------------------------------------------------------
C. Frank.
Speight       N/A             N/A              N/A            N/A               N/A             N/A
---------------------------------------------------------------------------------------------------------------------------------
Rounsevelle
Schaum       -0-              -0-              N/A            N/A               N/A             N/A
---------- ----------- ----------- ---------- ---------- -------------------------------------------------------------------------
</TABLE>


<TABLE>
<CAPTION>

Name           Shares          Value Realized       Number of              Value of
             Acquired on            ($)             Securities          Unexercised In-
            Exercise (#)                            Underlying             The-Money
                                                   Unexercised            Options/SARs
                                                  Options / SARs         At Fiscal Year-
                                                  At Fiscal Year-            End ($)
                                                      End (#)              Exercisable /
                                                   Exercisable /          Unexercisable
                                                   Unexercisable
<S>                    <C>                          <C>                      <C>
------------------------------------------------------------------------------------------------------
C. Frank
Speight         N/A                 N/A              N/A                        N/A
-------------------------------------------------------------------------------------------------------
Rounsevelle
Schaum          -0-                 -0-              -0-                        -0-
-------------------------------------------------------------------------------------------------------
</TABLE>

EMPLOYMENT AGREEMENTS

We have entered no employment agreements.

ITEM 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The  following  table  sets  forth  information  as of May 6, 2004 regarding the
ownership of the Company's Common Stock by each shareholder known by the Company
to  be  the  beneficial  owner of more than five percent (5%) of its outstanding
shares  of  Common Stock, each director and all executive officers and directors
as  a  group.  Except  as otherwise indicated, each of the shareholders has sole
voting  and  investment  power  with  respect  to  the  share  of  Common  Stock
beneficially  owned.

                                      -12-
<PAGE>

<TABLE>
<CAPTION>

Name and Address               Title                 Amount and Nature    Percent
      of                        of                         of               of
Beneficial Owner              Class                 Beneficial Owner       Class
--------------------------------------------------------------------------------------------
<S>               <C>                       <C>                     <C>
C. Frank Speight            Common 1                       -0-              0%
Randall S. Goulding         Common                         -0-              0%

All Executive Officers and
Directors as a Group        Common                         -0-              0%
(Two (2) persons)
</TABLE>

Columbia Bakeries, Inc. 10-KSB for 2003
May 6, 2004 FINAL
                                     Page 21

C.  Frank  Speight  owns  1,000,000  shares  of  Preferred  Series  B  stock.

ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

C.  Frank  Speight  received  1,000,000  shares  of  Preferred Series B stock in
settlement  of an award by the American Arbitration Association in the amount of
$102,000  plus  interest.

C.  Frank  Speight,  our  Principal  Executive  Officer  and  Director,  was the
President  of  Dunhill Capital, Inc. until April 10, 2004. Mr. Speight, directly
or  indirectly  through  Dunhill  Capital,  Inc.  has  been involved in numerous
capitalizations  for existing public companies, and the facilitation of numerous
private  companies  into the public sector, including the purchasing and selling
of  controlling interest in public and private corporations. Mr. Speight intends
to use his expertise in this field and the relationship developed in this field,
in facilitating, analyzing, and investing in business opportunities on behalf of
the Company.

On  July  10,  2003,  the  Company  paid  $150,000  to Colbake Holdings. Colbake
Holdings  (1)  Colbake Holdings, Inc. was owned by Rounsevelle W. Schaum and the
Rivershore  Irrevocable Trust the beneficial owner of the Rivershore Irrevocable
Trust  is Angela Liga, the mother of Salvatore Liga, until August 28, 2003, when
control  was  transferred  to  C.H Hsin. Mr. Hsin received $55,000 in consulting
fees  on  July  11,  2003.


ITEM 13.  EXHIBITS AND REPORTS ON FORM 8-K

(a)     The following documents are filed as part of this report

Exhibit  14.1  --   Code  of  Ethics

Exhibit  31.1  --  Certification  of  Principal  Executive  Officer  of Columbia
Bakeries,  Inc.  required  by  Rule  13a  -  14(1)  or  Rule  15d - 14(a) of the
Securities  Exchange  Act  of  1934,  as  adopted pursuant to Section 302 of the
Sarbanes-Oxley  Act  of  2002.

Exhibit  31.2  --  Certification of Principal Financial Officer of Columbia
Bakeries,  Inc.  required  by  Rule  13a  -  14(1)  or  Rule  15d - 14(a) of the
Securities  Exchange  Act  of  1934,  as  adopted pursuant to Section 302 of the
Sarbanes-Oxley  Act  of  2002.

Exhibit  32.1  --     Certification  of  Principal  Executive  Officer  of
Columbia  Bakeries,  Inc.  pursuant  to Section 906 of the Sarbanes-Oxley Act of
2002  and  Section  1350  of  18  U.S.C.  63.

Exhibit  32.2  --     Certification  of  Principal  Financial  Officer  of
Columbia  Bakeries,  Inc.  pursuant  to Section 906 of the Sarbanes-Oxley Act of
2002  and  Section  1350  of  18  U.S.C.  63.

(b)  Reports  on  Form  8-K.

     None.

                                      -13-
<PAGE>

ITEM  14.  PRINCIPAL  ACCOUNTANT  FEES  AND  SERVICES

AUDIT FEES

Beckstead  and  Watts,  L.L.P.  billed us in the aggregate amount of $26,500 for
professional  services  rendered  for  their  audit  of  our  annual  financial
statements  for  the  year  ended  December  31,  2002  and their reviews of the
financial  statements  included  in our Forms 10-QSB for the year ended December
31,  2003.

Jewett  Schwartz  &  Associates,  L.L.P.  billed us in the approximate amount of
$14,500  for  professional  services  rendered  for  their  audit  of our annual
financial  statements  for  the  year  ended  December  31,  2003.

AUDIT-RELATED FEES

Beckstead  and  Watts,  L.L.P.  did  not  bill  us for, nor perform professional
services  rendered  for  assurance  and  related  services  that were reasonably
related  to  the  performance  of  audit  or  review  of the Company's financial
statements  for  the fiscal years ended December 31, 2003 and December 31, 2002.

Jewett  Schwartz  &  Associates,  L.L.P.  did  not  bill  us  for,  nor  perform
professional  services  rendered  for  assurance  and related services that were
reasonably  related  to  the  performance  of  audit  or review of the Company's
financial  statements  for the fiscal years ended December 31, 2003 and December
31,  2002.

FINANCIAL  INFORMATION  SYSTEMS  DESIGN  AND  IMPLEMENTATION  FEES

For  the  fiscal  years ended December 31, 2003 and December 31, 2002, Beckstead
and  Watts,  L.L.P.  did not bill us for, nor perform, any financial information
systems  design or implementation.  For the fiscal years ended December 31, 2003
and  December  31,  2002,  we were not billed for professional services from any
other  accounting  firm  for  information  systems  design  or  implementation.

For  the  fiscal  years  ended  December  31, 2003 and December 31, 2002, Jewett
Schwartz  &  Associates,  L.L.P. did not bill us for, nor perform, any financial
information  systems  design  or  implementation.  For  the  fiscal  years ended
December  31,  2003  and  December 31, 2002, we were not billed for professional
services  from  any  other  accounting  firm  for  information systems design or
implementation

TAX FEES

Beckstead  and  Watts,  L.L.P.  did not bill us for nor perform any professional
services  for  tax related services for the fiscal years ended December 31, 2003
and  December  31,  2002,  respectively.

Jewett  Schwartz  &  Associates,  L.L.P.  did  not  bill  us for nor perform any
professional  services  for  tax  related  services  for  the fiscal years ended
December  31,  2003  and  December  31,  2002,  respectively.

                                      -14-
<PAGE>

ALL  OTHER  FEES

We were not billed for any other professional services for the fiscal year ended
December  31,  2003.

AUDITOR  INDEPENDENCE

Our  Board  of  Directors  considers that the work done for us in the year ended
December  31,  2003  by  Jewett Schwartz & Associates, L.L.P. is compatible with
maintaining  Jewett  Schwartz  &  Associates,  L.L.P.'s  independence.

AUDITOR'S  TIME  ON  TASK

All of the work expended by Jewett Schwartz & Associates, L.L.P. on our December
31, 2003 audit was attributed to work performed by Jewett Schwartz & Associates,
L.L.P.'s  full-time,  permanent  employees.


                                      -15-
<PAGE>

                                   SIGNATURES

Pursuant  to  the requirements of section 13 or 15(d) of the Securities Exchange
Act  of  1934,  the undersigned has duly caused this Form 10-KSB to be signed on
its  behalf  by the undersigned, there unto duly authorized, in the City of West
Palm  Beach,  Florida,  on  May  6,  2004.

COLUMBIA BAKERIES, INC.

By: /s/ C. Frank Speight                                      Date: May 6, 2004
   -------------------------------------
    C. Frank Speight
    Principal Executive Officer and Director



Pursuant to the requirements of the Securities Exchange Act of 1933, this report
has been signed below by the following persons on behalf of the registrant and
in the capacities and on the date indicated.

By: /s/ C. Frank Speight
----------------------------------
C. Frank Speight, Principal
Executive Officer and Director
Date:  May 6, 2004



By: /s/ Randall Goulding
-----------------------------------
Randall Goulding, Principal Financial
and Accounting Officer and Director
Date:  May 6, 2004

                                      -16-
<PAGE>

                                  EXHIBIT 14.1

                             COLUMBIA BAKERIES, INC

                                 CODE OF ETHICS

Integrity and ethics play a significant role in the way we conduct business at
Columbia Bakeries, Inc. (the "Company"). Operating with a strong sense of
integrity is critical to maintaining trust and credibility with our clients,
employees, and investors.

Our code embodies rules regarding individual and peer responsibilities, as well
as responsibilities to our clients, employees, shareholders and the public. This
Code includes:

  - Prohibiting conflicts of interest

  - Protecting the Company's confidential and proprietary information and that
of our clients and other business partners

  - Treating the Company's employees, clients and competitors fairly

  - Protection and proper use of Company assets

  - Compliance with laws, rules and regulations (including insider trading laws)

  - Encouraging the reporting of any unlawful or unethical behavior

<PAGE>

OVERVIEW OF BUSINESS ETHICS

The  collection  of  policies  and  guidelines established in the Code of Ethics
applies  to  all  Company  employees  (including  those of our subsidiaries) and
members  of our Board of Directors. We believe that long-term, trusting business
relationships are built by being honest, open and fair. We promise to uphold the
highest  professional  standards in all business operations. We also expect that
those  with  whom we do business will adhere to the standards set by our Code of
Ethics.

Outstanding  employees  are  key to our success. Everyone is part of the Company
team,  and  each  of  us  deserves  to  be  treated with dignity and respect. In
addition,  every employee is responsible for his/her own conduct. No one has the
authority  to  make another employee violate our Code of Ethics, and any attempt
to  direct  or  otherwise  influence  someone  else  to  commit  a  violation is
unacceptable.

We  require  all those covered by this Code of Ethics to know and understand its
terms.  This  Code states general principles and does not supersede the specific
policies  and  procedures set forth in the Company's Administrative Policies and
Procedures  handbook  or in separate specific policy statements, including those
concerning  trading  in  the  Company's  stock.

The  fundamental  principle  that  underlies  the  way  we  do business is sound
judgment.  An  understanding  of  our legal and ethical parameters enhances that
judgment.  We  have  a  responsibility  to  pay  constant attention to all legal
boundaries  and to comply with all applicable laws and regulations in all of our
operations.  For everyone at the Company, this means following the spirit of the
law  and  doing  the  right,  ethical  thing  even when the law is not specific.

Although we realize that no two situations are alike, we aim for consistency and
balance  when  encountering  ethical  issues. It is essential that we all remain
watchful  for  possible infringements of our business ethics. Employees who have
questions regarding business conduct or possible violations should contact their
manager  or  the  Company's  legal  counsel.

<PAGE>

EXHIBIT  31.1  --  CERTIFICATION  OF  PRINCIPAL  EXECUTIVE  OFFICER  OF COLUMBIA
BAKERIES,  INC.  REQUIRED  BY  RULE  13A  -  14(1)  OR  RULE  15D - 14(A) OF THE
SECURITIES  EXCHANGE  ACT  OF  1934,  AS  ADOPTED PURSUANT TO SECTION 302 OF THE
SARBANES-OXLEY  ACT  OF  2002.

I, C. Frank Speight, certify that:

1.   I  have  reviewed  this  annual report on Form 10-KSB of Columbia Bakeries,
     Inc.;
2.   Based  on  my  knowledge,  this  annual  report does not contain any untrue
     statement  of a material fact or omit to state a material fact necessary to
     make  the  statements  made, in light of the circumstances under which such
     statements  were made, not misleading with respect to the period covered by
     this  annual  report;
3.   Based  on  my  knowledge,  the  financial  statements,  and other financial
     information  included in this annual report, fairly present in all material
     respects  the  financial condition, results of operations and cash flows of
     the registrant as of, and for, the periods presented in this annual report;
4.   The  registrant's  other  certifying  officers  and  I  are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in  Exchange  Act  Rules  13a-14  and  15d-14) for the registrant and have:
     a)   designed  such  disclosure  controls  and  procedures  to  ensure that
          material  information  relating  to  the  registrant,  including  its
          consolidated  subsidiaries, is made known to us by others within those
          entities,  particularly  during the period in which this annual report
          is  being  prepared;
     b)   evaluated  the  effectiveness  of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this  annual  report  (the  "Evaluation  Date");  and
     c)   presented  in  this  annual  report  our  conclusions  about  the
          effectiveness  of  the disclosure controls and procedures based on our
          evaluation  as  of  the  Evaluation  Date;
5.   The  registrant's  other certifying officers and I have disclosed, based on
     our  most  recent  evaluation,  to  the registrant's auditors and the audit
     committee  of  registrant's  board  of directors (or persons performing the
     equivalent  functions):
     a)   all  significant  deficiencies  in the design or operation of internal
          controls  which  could  adversely  affect  the registrant's ability to
          record,  process,  summarize  and  report  financial  data  and  have
          identified  for  the  registrant's auditors any material weaknesses in
          internal  controls;  and
     b)   any  fraud, whether or not material, that involves management or other
          employees  who  have  a  significant role in the registrant's internal
          controls;  and
6.   The  registrant's  other  certifying  officers and I have indicated in this
     annual  report  whether there were significant changes in internal controls
     or  in  other  factors  that  could  significantly affect internal controls
     subsequent  to  the  date  of  our  most  recent  evaluation, including any
     corrective  actions  with  regard  to significant deficiencies and material
     weaknesses.

Date:  May  6,  2004
/s/ C. Frank Speight
---------------------------------
C. Frank Speight
Principal Executive Officer

<PAGE>

EXHIBIT  31.2  --  CERTIFICATION  OF  PRINCIPAL  FINANCIAL  OFFICER  OF COLUMBIA
BAKERIES,  INC.  REQUIRED  BY  RULE  13A  -  14(1)  OR  RULE  15D - 14(A) OF THE
SECURITIES  EXCHANGE  ACT  OF  1934,  AS  ADOPTED PURSUANT TO SECTION 302 OF THE
SARBANES-OXLEY  ACT  OF  2002.

I, Randall Goulding, certify that:

1.   I  have  reviewed  this  annual report on Form 10-KSB of Columbia Bakeries,
     Inc.;
2.   Based  on  my  knowledge,  this  annual  report does not contain any untrue
     statement  of a material fact or omit to state a material fact necessary to
     make  the  statements  made, in light of the circumstances under which such
     statements  were made, not misleading with respect to the period covered by
     this  annual  report;
3.   Based  on  my  knowledge,  the  financial  statements,  and other financial
     information  included in this annual report, fairly present in all material
     respects  the  financial condition, results of operations and cash flows of
     the registrant as of, and for, the periods presented in this annual report;
4.   The  registrant's  other  certifying  officers  and  I  are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in  Exchange  Act  Rules  13a-14  and  15d-14) for the registrant and have:
     a.   designed  such  disclosure  controls  and  procedures  to  ensure that
          material  information  relating  to  the  registrant,  including  its
          consolidated  subsidiaries, is made known to us by others within those
          entities,  particularly  during the period in which this annual report
          is  being  prepared;
     b.   evaluated  the  effectiveness  of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this  annual  report  (the  "Evaluation  Date");  and
     c.   presented  in  this  annual  report  our  conclusions  about  the
          effectiveness  of  the disclosure controls and procedures based on our
          evaluation  as  of  the  Evaluation  Date;
5.   The  registrant's  other certifying officers and I have disclosed, based on
     our  most  recent  evaluation,  to  the registrant's auditors and the audit
     committee  of  registrant's  board  of directors (or persons performing the
     equivalent  functions):
     a.   all  significant  deficiencies  in the design or operation of internal
          controls  which  could  adversely  affect  the registrant's ability to
          record,  process,  summarize  and  report  financial  data  and  have
          identified  for  the  registrant's auditors any material weaknesses in
          internal  controls;  and
     b.   any  fraud, whether or not material, that involves management or other
          employees  who  have  a  significant role in the registrant's internal
          controls;  and
6.   The  registrant's  other  certifying  officers and I have indicated in this
     annual  report  whether there were significant changes in internal controls
     or  in  other  factors  that  could  significantly affect internal controls
     subsequent  to  the  date  of  our  most  recent  evaluation, including any
     corrective  actions  with  regard  to significant deficiencies and material
     weaknesses.


Date: May 6, 2004
/s/ Randall Goulding
----------------------------------
Randall Goulding
Principal Financial Officer

<PAGE>

EXHIBIT  32.1  --  CERTIFICATION  OF  PRINCIPAL  EXECUTIVE  OFFICER  OF COLUMBIA
BAKERIES,  INC.  PURSUANT  TO  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 AND
SECTION  1350  OF  18  U.S.C.  63.

I,  C. Frank Speight, the Principal Executive Officer of Columbia Bakeries, Inc.
hereby  certify that to my knowledge, Columbia Bakeries, Inc.'s annual report on
Form  10-KSB  for  the  year  ended  December  31, 2003, fully complies with the
requirements  of  Section  13(a) or 15(d) of the Securities Exchange Act of 1934
and  that  information  contained  in  the  annual report on Form 10-KSB and the
financial  statements  contained  therein  fairly  presents,  in  all  material
respects,  the  financial  condition  and  results of the operations of Columbia
Bakeries,  Inc

Date:     May 6, 2004         /s/ C. Frank Speight
                              ----------------------------------
                              C. Frank Speight,
                              Principal Executive Officer
                              Columbia Bakeries, Inc.

<PAGE>

EXHIBIT  32.2  --  CERTIFICATION  OF  PRINCIPAL  FINANCIAL  OFFICER  OF COLUMBIA
BAKERIES,  INC.  PURSUANT  TO  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 AND
SECTION  1350  OF  18  U.S.C.  63.

I,  Randall Goulding, the Principal Financial Officer of Columbia Bakeries, Inc.
hereby  certify that to my knowledge, Columbia Bakeries, Inc.'s annual report on
Form  10-KSB  for  the  year  ended  December  31, 2003, fully complies with the
requirements  of  Section  13(a) or 15(d) of the Securities Exchange Act of 1934
and  that  information  contained  in  the  annual report on Form 10-KSB and the
financial  statements  contained  therein  fairly  presents,  in  all  material
respects,  the  financial  condition  and  results of the operations of Columbia
Bakeries,  Inc

Date:     May 6, 2004         /s/ Randall Goulding
                              ----------------------------------
                              Randall Goulding
                              Principal Financial Officer of
                              Columbia Bakeries, Inc.

<PAGE>