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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C.  20549

                                   FORM 10KSB

[X]     ANNUAL  REPORT  PURSUANT  TO  SECTION  13  OR  15(d)  OF  THE SECURITIES
        EXCHANGE  ACT  OF  1934
        For  the  fiscal  year  ended  June  30,  2002
                                       ---------------

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

        Commission  File  No.  000-33251
                               ---------

                     INTERNATIONAL FOOD PRODUCTS GROUP, INC.
                     ---------------------------------------
             (Exact name of Registrant as specified in its charter)

                        GOLDEN CHOICE FOODS CORPORATION
                      ____________________________________
                            Former Name if Applicable


          NEVADA                                       33-0903004
-------------------------------                   ----------------------
(State or other jurisdiction of                   (I.R.S. Employer
incorporation or organization)                    Identification Number)

180 Newport Center Drive, Suite 180
Newport Beach, CA                                 92660
---------------------------------------           ---------
(Address of principal executive offices)          (Zip Code)

Registrant's telephone number, including area code:   (949) 720-8470
                                                      ---------------

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

Securities  registered  pursuant  to  Section  12  (g)  of  the  Act:
50,000,000  common  shares  par  value  $0.001  per  share

Check  whether  the  issuer  (l)  has  filed all reports required to be filed by
Section  13  or 15(d) of the Exchange Act during the past 12 months (or for such
shorter  period  that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days. [X] Yes  [ ]
No

Check  if there is no disclosure of delinquent filers in response to Item 405 of
Regulation  S-B  is  not  contained  in  this  form,  and  no disclosure will be
contained,  to  the  best  of  registrant's  knowledge,  in  definitive proxy or
information statements incorporated by reference in Part III of this Form 10-KSB
or  any  amendment  to  this  Form  10-KSB.  [X]

Revenues  for  the  fiscal  year  ending  June  30,  2002  were  $  400,704

The  aggregate  market value of the voting stock held by non-affiliates computed
by  reference  to the last reported sale price of such stock as of June 30, 2002
is  $  20,887,345.

The  number  of  shares  of the issuer's Common Stock outstanding as of June 30,
2002  is  21,523,803.

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


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                                    PART I

Item 1.  Description  of  Business


Corporate  History

     International  Food Products Group, Inc.(IFPG) formerly Golden Choice Foods
Corporation  dba  Golden Choice Foods was incorporated in April 1996 pursuant to
the  laws of the state of Delaware. On June 1, 2000, the Company re-domiciled in
the  state  of  Nevada.  In  April,  2001  the  Company  changed  its  name  to
International  Food  Products  Group,  Inc.(IFPG)  and  became a fully reporting
company  with  the SEC pursuant to Section 12(g) of the Securities Exchange Act.
In  January  of  2002  IFPG  received a listing of its stock on the OTC Bulletin
Board  under  the  trading  symbol  "IFPG".

General  Overview

     IFPG  is a developer and marketer of new food products. We plan to grow our
business  through sales generated from existing brands, newly developed products
and  acquisitions  of  small,  regional  marketing/manufacturing  companies.

     IFPG  has  been  engaged  in  product  development  since  its  inception.
Resulting  in  the  issuance  of  two  U.S. design patents, one of which, G.O.T.
Fries(R),  has been successfully introduced into the market place. IFPG has also
completed  the  development  of  a number of new products that are now ready for
market  introduction,  the  issuance  of  registrations  and  trademarks for its
corporate names, brands, product names, flavors, and a signature character named
Gotfrie!

     In addition to the products mentioned above, we plan to introduce new items
in  late  2002  and  early 2003.   The Company is  also negotiating to acquire a
fully  developed  appetizer/entree  ready  for  packaging  and  marketing.  This
product  could  be ready for introduction as early as the third quarter of 2003.
Additionally,  the  Company  has  identified two regionally branded manufactures
that  are  potential  acquisition candidates.  Management is also aware of other
local  and  regional  brands  that  can  be  acquired.

Products

G.O.T.  FRIES(R)

     G.O.T.  FRIES(R) (Great Original Tasting!) - a crinkle-cut French-fry style
snack,  is  the  first  mainstream  brand  to  be  introduced  into the consumer
market  by  IFPG.  G.O.T.  FRIES(R)  is  the  result  of  two  years  of product
development and is made from potato and corn base which is extruded and then
baked to a light crunchy texture.  They contain less fat than most  traditional
items found on the snack aisle,  yet  have  an  extraordinarily  high  flavor
profile.  It  cannot  be overemphasized  that  their  originality  has  been
recognized  with


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the  issuance  of  a US design patent. G.O.T. FRIES(R) is currently available in
three  flavors:  "All  American(TM)",  "Southwestern",  and "Traditional-Lightly
Salted".

     The  Snack  Food  Industry Association reported that G.O.T. FRIES(R) ranked
number  14 on the top 20 list of new/re-launched snack category products in 2000
out  of  the  thousand  of  products  introduced.  Considering  the brand has no
advertising  and  very  little  on-shelf  exposure, that represents a remarkable
achievement.  Although  all  salty snacks compete for the same customer, most of
these  snacks are grouped under broad headings such as potato chips, corn chips,
tortilla  chips,  cheese  puffs or pretzels. G.O.T. FRIES(R) does not fall under
one  of these types of classifications, thereby causing it to standout among the
crowd  of  salty  snacks. It is a product that is identifiable and recognizable.
The  French-fry  is  one  of  the most popular foods in America. MacDonald's(R),
alone,  sells  over  nine  million(9,000,000)  orders  of  french-fries per day.
Sandwich  shops,  not  possessing a deep fryer, want a product that will attract
french-fry  customers. G.O.T. FRIES(R) appears to be the first potential product
to  fill this requirement, because it is also microwavable. G.O.T. FRIES(R) also
benefits  indirectly  from  the advertising by the milk industry - with its "Got
milk" campaign. This benefit is a result of the consumer awareness with the term
"GOT".  The "Got Milk" ad campaign appeared to be very successful in drawing the
attention  of viewers with its funny and interesting tales. Since most consumers
have  seen  at least 1 or more of the "Got Milk" commercials, it is management's
belief  that  when  the  consumer sees the word got in G.O.T. FRIES(R)  they
will  be more apt to look closer at the packaging, thereby increasing the chance
for  a  purchase.

JUST  POPPED(TM)  popcorn

     Popcorn  sales  are on the rise in the United States and IFPG believes with
its  branded  line  of creative new products that  it can capture a share of the
market.  Its two distinctive lines of popcorn, Kettle corn\Kettle Corn - Organic
and  Chicago style Caramel & Cheese, are ready for delivery as soon as marketing
arrangements  can  be  made.

California  Cheese  Puffs(TM)

     California  Cheese  Puffs(TM)  will  be  manufactured  and  distributed  in
Southern  California, Las Vegas and parts of Arizona.  A shortage of cheese puff
manufacturers exists in these regions and IFPG can fill this need.  Cheese puffs
are  considered  a commodity snack and require minimal promotional dollars to be
spent  against  the  sales  of  the  product.

AW-Shucks  TM

     AW-SHUCKS(TM) is a branded line of corn based products currently consisting
of  AW-SHUCKS  Stone  Ground  Tortilla Chips(TM) with flavors such as Hot Tamale
Madness(TM) and Fajita Grill(TM), and AW-SHUCKS Corn Off the Cob(TM) which is an
extruded snack  resembling  corn  being  sliced  off of the cob, again in unique
flavors.  AW-Shucks  TM  -


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Corn  Off  the Cob is protected by a US Design patent and the Company expects to
introduce  it  in  the fourth  Quarter  of  2003.

Other  Products

     IFPG  has  other  products  in  development. Most of these products revolve
around IFPG's ability to manufacture unique, recognizable, 3-dimensional shapes,
that,  combined  with  management's  expertise  with licensing, should allow the
Company  to  expand  into the entertainment industry, i.e. Pokemon, Flintstones,
etc.  Most of these shapes are proprietary and timing of their introduction into
the  market  has  yet  to  be  determined.

Product  Development

     As  is  apparent  from  the  current products the Company has developed and
subsequently  patented,  management  believes  it  can  formulate  other product
opportunities  that  will  be successful in the consumer market. The Company has
several  projects in various stages of development. Management takes great pride
in  its  hands-on  approach to product development. Much of its time is spent on
creating  new  and  unique  opportunities.  The  Company  works  with  various
flavor-creators   to  formulate new and interesting seasonings. It also draws on
the  creative  artistry  of  advertising  agencies  and independent artists. The
management  team  is  knowledgeable  and  experienced  in  the  operation of all
equipment  utilized  in  the  extrusion  manufacturing  process.

Operations

     Since  the  inception  of  the business, management has maintained a policy
that  during  the  early  growth years of the Company, any operation that can be
subcontracted  will  be subcontracted. This gives IFPG limited exposure to labor
costs  and  greater  flexibility  in  carrying  out  its  business  plan. In all
operational  areas,  this  provides  IFPG  with  complete  services, from proven
professionals,  at  reduced  costs rather than increased staffing costs that are
not  practical  at  this  time.

     Of  particular  concern  are the areas of manufacturing and distribution of
product.  These  two strategic areas are the most likely to impact IFPG in terms
of  capital resources and its ability to meet its customer's demands for on-time
deliveries.  By sub-contracting it's manufacturing, cost of goods sold becomes a
fixed   cost  per  unit,  thereby   requiring   less  investment  in  production
assets.

     Freight  is  one  of  the  Company's  most significant expenses. Management
continues  to  seek  and implement strategies for reducing the cost of shipping.

     Rather  than assume the financial burden of a full time shipping staff, the
Company  contracts  the  services of a transportation agency. For a flat monthly
fee  and a percentage of the actual cost of the shipment, the agency acts as the
shipping  department.  As  IFPG  adds more shipping points, the agency will also
service  those  locations.


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     By  using these sub-contractors, IFPG is able to get the highest quality of
service  for  a  fixed  cost per unit,  giving  it the flexibility to make rapid
business decisions, allowing  for immediate  expansion  or reduction with little
impact to its  internal  structure.

     This  strategy gives IFPG the ability to grow operationally at a rapid rate
without  the  need  for  additional  capital  or  personnel.  It  also  makes it
easier  to  manage  and  integrate  all  of  its  resources.  As sales increase,
management  will  select  other  co-packers  strategically  located.  This  will
reduce  the  cost of shipping by selecting the manufacturer closest to the point
of  origination  of  the ordering customer, as well as increase  IFPG's  ability
to  make  on-time-deliveries.  This will lead to better customer  service.  As a
result  of  the lower freight costs and  the  fixed cost per unit of production,
IFPG  will  be  able   to   sell   its   products  at  a  reduced cost  to  its
customers, thereby enabling  the  stores  to  sell  to the ultimate consumer at
the lowest possible price.  By using the  service of  multiple co-packers, IFPG
will not be faced with the  additional  overhead  resulting  from  the variable
costs associated  with  owning  its  own   plant  or  having   to  provide  the
capital to acquire  its own facility.  Another  great  benefit  is  the  fact
that IFPG will be able to keep finished  goods  inventory  at  a  minimum.

Sales  Overview

     IFPG  will focus the sale of its products in the following market segments:

-     Mass  merchandisers  and  Club  stores
-     Retail  (grocery  chains,  food  markets,  &  drug  stores)
-     Food  service  (sandwich  shops,  arenas,  stadiums,  etc.)

     Management  expects  the  Company's  growth  to  come  primarily  from mass
merchandisers,  retail,  and  club stores. IFPG is in the process of structuring
a sales force that will combine the services of internal sales people,
brokers  and  master  brokers to direct its sales efforts. Master brokers direct
sales  forces  that  consist  of individual food brokers and, in some cases,
other master  food  brokers.  These brokers are hired for their experience in
selected market  segments  and  for  their  existing relationships with selected
accounts within their respective sales territories. As the Company grows it will
hire two or  three  regional  sales  managers  to make direct sales calls and to
grow the broker  networks  in  the  various  market  segments.

The  Market

     As  discussed  earlier,  every segment of retail is a target market for the
Company.  The  most  significant  is  the  grocery industry, which is one of the
largest  and  most  competitive  business  sectors  in  our  economy.  Like many
businesses,  consolidation has been the operative word in the last few years. Of
the  total  retail grocery business nationally of two hundred and fifty billion
dollars  ($250,000,000,000), the top ten chains represent forty-four percent
(44%) or one  hundred and ten billion dollars ($110,000,000,000). Likewise, the
suppliers or  vendors  to  the  retail  trade  are  also


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merging. The result is that many of the consumer identifiable brands are part of
large  national  and  multi-national  companies,  all competing for the precious
selling space provided by the retail trade. While Fortune 500 companies own many
of  the "household" names, over twenty thousand (20,000) different companies are
represented  in  the  average  supermarket.  The  grocery  business  is  truly a
multi-varied, multi-opportunistic, and entrepreneurial microcosm of the American
economy.

     Within the consumer goods retail  business,  the snack food industry is one
of  the  largest  and  highest  volume  categories  -  a  fifty  billion-dollar
($50,000,000,000)   business   worldwide   and  over  twenty   billion   dollars
($20,000,000,000) domestically.  Growing at an annual rate of ten percent (10%),
this "power" category is dominated by one multinational  company.  However, this
dominance  presents  many  opportunities.  Because  snack foods appeal to nearly
every  consumer,  regardless  of demographics, literally every type of retailer,
grocery  chains,  gas  stations,  mass  merchandisers,   food  service,  vending
machines,  drug stores,  military and club stores carries some snack selections.
These  retailers  are  on the lookout  for more  varied  sources of supply,  not
wishing  to be dependent upon the dominant company. Consumers,  ever fickle, are
constantly  looking  for new snacks to try because  snacks are an impulse driven
purchase. To put these dynamics into statistical perspective, a one-tenth of one
percent  (.1%) share of the snack  business  represents  fifty  million  dollars
($50,000,000)  in  business.

Sales  and  Marketing  Strategy

     The  snack  industry  is  essentially  an  impulse  driven  business
requiring  aggressive  sales  and  marketing  techniques.  IFPG  is making every
effort  to  ensure  strong  distribution. The Company also plans to use  various
promotions  and  advertising  to  create  consumer  awareness  and  trial of the
product.  Once the consumer  tries  its products,  management  is  confident  of
repeat  purchases.

     Every  class  of  trade  and  channel  of  distribution  has  different
merchandising  and promotion requirements.  For example, one major grocery chain
may require an "every day low price" (EDLP),  while another, in the same market,
may  look  for  aggressive  promotional  support  several  times a  year.  Also,
different  classes  of  trade  have  different   distribution  or  gross  margin
requirements.  A  "club"  store  works  on a  lower  gross  margin  than  a mass
merchandiser;  which works on a lower gross margin than a grocery  store;  which
works on a lower gross margin than a chain drug store.  Some  accounts  want the
product shipped to their warehouse for them to distribute to the stores.  Others
require the product shipped directly to each store and stocked on the shelves by
a  third  party.  IFPG  has  developed  a  comprehensive  and  flexible pricing
distribution and promotion schedule that is tailored for each class of trade and
channel  of  distribution.

     IFPG  feels the most  significant  volume  opportunity lay with the retail,
mass  merchandise,  and  club store market segments.  Our goal is to get product
placement  in  as many outlets as possible. We intend to accomplish this goal by
increasing our sales


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representation  in  these  market  segments,  thereby,  enabling  the Company to
present  its  products  in  as  short  a  period  of  time  as  possible.

Competition

First  there  is  PepsiCo/Frito   Lay,  a  twenty  one  billion  dollar
($21,000,000,000)  behemoth with approximately  twenty five percent (25%) of the
international  snack  food  business  and  sixty  percent (60%) of the  domestic
business.  The other competitors represent an interesting mix. For the most part
they  fall  into  two  groups:  1) local or regional suppliers of the basic core
snacks:  potato  chips,  tortilla chips, popcorn, pretzels or cheese puffs or 2)
specialty  companies,  that  provide  much of the same basic products and shapes
with different ingredients. Examples of these would be pasta, carrot, terra, and
multi-grain  chips.  These two groups have produced a wide variety of choices to
an  increasing  array  of  consumers.

Although  every  product  in  the  snack  aisle  represents  competition for the
consumers'  dollar, we believe that each of the Company's products has something
special  about it that sets it  apart  from most of  the  other products in  the
salty snack  category.

G.O.T.  Fries (R) appeals to both french fry and potato chip consumers giving it
a  positive  advantage  on the snack aisle.   Essentially it is a new product to
the  snack  category in all market segments.  At this time it would generally be
considered  a  new  brand  with  growing  brand  awareness.  It is competitively
positioned  in  terms  of  pricing  in  all  market  segments.

     The  Company's  products  are sold in very attractive, appealing packaging,
while  the  products themselves are upscale with new and exciting flavors,
giving the consumer a positive alternative choice. The main goal of the Company,
from a
competitive standpoint, is to get good product placement in all market segments,
either  on  an  end of aisle display or eye level shelf placement. Since G.O.T.
Fries(R) is new to most consumers, it is important for it to be placed where it
can  easily  be seen until it acquires brand recognition. It has been shown that
where  the  product  is placed in a display easily seen by the consumer, that it
has  sold  very  well,  such  as  in  Publix  Stores. The Company also relies on
in-store  demonstrations  to  help  drive  the  consumer  to become aware of its
products.  This has worked very well in stores such as Costco, where the product
sells extremely well when it is being demonstrated. The Company has also offered
free  product to customers of some chains to develop product awareness. As sales
grow and capital permits, the Company plans to begin media advertising in print,
radio,  and  television.  At  this time no such programs have been undertaken by
IFPG.

Employees

Many  of  IFPG's  operations  are  conducted  through  the  use  of  independent
contractors.  Independent  contractors  perform  such  duties  as  selling,
manufacturing,  shipping  and  computer  services.  Because of this policy, IFPG
currently  has  three  full  time  employees.

Government  Regulations


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     As  a developer and distributor of food products, the Company is subject to
the  "Federal  Food,  Drug  and  Cosmetic  Act"  and  regulations  promulgated
thereunder,  by  the  Food  and  Drug Administration ("FDA"). This comprehensive
regulatory  agency  governs  the  manufacture  (including  composition  and
ingredients),  labeling,  packaging  and  safety  of  food.  The  FDA  regulates
manufacturing  practices  for  foods  through  its  current  "good manufacturing
practices"  regulations.  It also specifies the standards of identity of certain
foods,  including the products sold by the Company. It stipulates the format and
content  of  specific  information  mandatory  on  food  product  labels.

In  addition,  the  FDA  enforces the Public Health Service Act, which regulates
conduct  required  in  preventing  the  transmission  or  spread of communicable
diseases.  The  Company  is  also subject to state and local regulation, through
the  licensing  of  manufacturing  facilities.  State  and local health agencies
enforce  standards  for  the  Company's  products,  and  inspects  the Company's
facilities,  and  regulate  its  trade  practices.

To  monitor  product  quality,  the  Company  maintains quality control programs
during  all  stages  of  processing.  Management  believes  that  the  Company's
production  and   manufacturing   practices  comply  with  applicable government
regulations.

Item  2.  Description  of  Property

Third  party  contractors  produce  and  ship  the  products  of  IFPG.
Accordingly,  the  only  facilities  utilized  by  IFPG  are  500  square  feet
of office space located at 180 Newport Center Drive,  Suite 180,  Newport Beach,
California.  IFPG  occupies  the  space  pursuant  to  a  lease  agreement  in
which  the  lease  is  renewed  annually.  IFPG  believes  that  if  it  should
ever lose the  lease,  it would not be  difficult  to  obtain a  comparable  and
satisfactory  office  location.

Item  3.  Legal  Proceedings

On  July  8,  2002,  a complaint was filed in the Superior Court of the State of
California  for  the  County  of  Orange,  Central  Division, by MEREDOC LTD., a
California  corporation, against the Company and its officers, directors and its
employee Jeff Ross.  The complaint alleges services were provided to the Company
in  the approximate amount of $41,000 for which the plaintiff has not been paid.
The  Company  disputes  the  amount  that  is  owed  to  the  plaintiff.

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

There  were  no  meetings of shareholders held during the fiscal year ended June
30,  2002.


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                                     Part II

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

Market  Information

Currently,  there  is no public market for the Company's common stock, and there
can  be no assurance that an active public market for this stock will develop or
will  be  sustained.  Our common shares are listed on the OTCBB under the symbol
IFPG.

At  June  30,  2002 there were approximately 270 record holders of IFPG's Common
Stock.

IFPG  has  not previously declared or paid any dividends on its Common Stock and
does  not  anticipate  declaring  any  dividends  in  the  foreseeable  future.

There  are  no  restrictions  in  our  articles  of incorporation or bylaws that
restrict  us from declaring dividends.  The Nevada Revised Statutes, however, do
prohibit  us  from  declaring  dividends  where,  after  giving  effect  to  the
distribution  of  the  dividend:

     (1)  we  would not be able to pay our debts as they become due in the usual
          course  of  business;  or

     (2)  our  total assets would be less that the sum of our total liabilities.

Recent  Sales  of  Unregistered  Securities

The  following  are  all equity securities issued by IFPG during the fiscal year
ended  June  30,  2002  that  were  not  registered  under  the  Securities Act.

Shares  Issued  for  Services

In  the  year  ended  June  30,  2002, the Company issued an aggregate of 97,500
shares  of common stock to a total of five outside contractors and/or agents for
services  rendered  to  IFPG.  The shares were recorded at $0.75 per share.  The
issuance  of the stock did not involve any public offering within the meaning of
section  4(2) of the Securities Act of 1933 (the "Act") and was therefore exempt
from  registration  under  section  5(a)  of  the  Act.

In  the  year  ended June 30, 2002, the Company issued an aggregate of 2,350,000
shares of common stock  to the three employees of IFPG as compensation for prior
unpaid salaries.  The shares were recorded at $0.375 per share.  The issuance of
the stock did not involve any public offering within the meaning of section 4(2)
of  the  Securities  Act  of  1933  (the  "Act")  and  was therefore exempt from
registration  under  section  5(a)  of  the  Act.

Shares  Issued  for  Cash


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Beginning  in  October  2001,  and  ending  on  January  3, 2002, IFPG issued an
aggregate  of  333,635  shares  of  common  stock  to  a  total of 15 persons in
consideration  of  cash payment to IFPG of $0.75 per share.  The issuance of the
stock  did not involve any public offering within the meaning of section 4(2) of
the  Securities  Act  of  1933  (the  "Act")  and  was  therefore  exempt  from
registration  under  section  5(a)  of  the  Act.

Beginning  on  January  25,  2002,  and  ending  on May 10, 2002, IFPG issued an
aggregate  of  50,000  shares  of  common  stock  to  a  total  of 10 persons in
consideration  of  cash payment to IFPG of $1.50 per share.  The issuance of the
stock  did not involve any public offering within the meaning of section 4(2) of
the  Securities  Act  of  1933  (the  "Act")  and  was  therefore  exempt  from
registration  under  section  5(a)  of  the  Act.

On June 28, 2002, IFPG issued 39,394 shares of common stock to an officer of the
Company in satisfaction of a debt in the amount of $13,000.  The issuance of the
stock  did not involve any public offering within the meaning of section 4(2) of
the  Securities  Act  of  1933  (the  "Act")  and  was  therefore  exempt  from
registration  under  section  5(a)  of  the  Act.

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

The  following  discussion  and  analysis should be read in conjunction with the
information  set  forth  in  the audited financial statements for the year ended
June  30,  2002,  and  June  30,  2001.

Plan  of  Operations

The  success  of  the Company is dependent on the raising of capital to continue
the  operation  of its business.  Under current operating conditions, management
believes  that  IFPG's sources of cash are insufficient to last through the next
year.  For  IFPG  to  grow  its  sales it will need to raise additional capital.
The  Company  plans  to begin trading its stock on the OTC Bulletin Board during
the  4th  quarter  of 2002.  It believes that it will be easier to raise capital
through  a  private stock offering when a public market exists for the shares of
the  Company.  These funds will be used to increase market penetration of G.O.T.
Fries(R)  and  to introduce the Company's four new products through its recently
formed broker network. To implement this plan, IFPG plans to engage the services
of inaVest, Inc., a public relations and communications firm that specializes in
dealing  with  shareholders  and the investment banking community.  inaVest will
also  help  in providing market-makers to create a public market for IFPG common
stock  and  to  assist  in  finding investors to purchase restricted shares from
IFPG.  Management  believes  that  once  the  stock  of  the Company is publicly
trading that it will be able to raise the necessary capital to grow its business
and  to  become  profitable.  During the past months, IFPG has been developing a
national  broker  network  that  will  represent the Company's expanding product
lines.  This  broker  network  will  begin  its efforts as the Company begins to
raise  its  capital.

To  obtain  product  placement  in  the  retail  market  segment IFPG has to pay
significant slotting fees.  Due to the high cost of doing business in the retail
market  segment,  IFPG


                                      10

<PAGE>

has  decided to concentrate its sales efforts in mass merchandisers, club stores
and  "In & Out" promotions with all market segments. In mass and club stores "In
&  Out" promotions are not generally subject to slotting fees, however, in-store
demonstrations  are  typical.  Management  plans to increase its efforts to sell
G.O.T.  Fries(R) through mass merchandisers and club stores over the next twelve
months.  It  believes that this will help increase brand awareness on a national
basis.  Sales  in  these categories do not require the payment of slotting fees,
although  IFPG  plans to conduct product demonstrations in many of these stores.
Since  the  stated goal of IFPG is to be a developer of new products, management
will  continue  to  work  on  the  creation  of  new  and exciting products that
eventually  will  be  introduced  into  the  market  place.  IFPG  will begin to
manufacture  in  the eastern part of the United States as soon as a co-packer is
selected.  Manufacturing at a new location has no impact on IFPG's liquidity; it
will  however,  have a positive impact by reducing the amount of freight paid by
IFPG.

Results  of  Operations  for  the  fiscal  years  ended  June 30, 2002 and 2001.

Net  Sales.  Net  sales for the fiscal year ended June 30, 2002, compared to the
fiscal  year ended June 30, 2001, decreased approximately 77% from $1,628,368 to
$377,637.  During  the  fiscal  year  ended  June  30, 2002 the Company had just
completed  its  test  marketing  of  its  G.O.T.  Fries(R) product line in major
market areas of the country in both club and mass market stores.  As part of its
business plan the Company set out to raise additional capital during fiscal year
ended  June 30, 2002.  Due to numerous incidents in the United States and around
the world that have had a negative impact on the U.S. economy during this period
of  time,  the  Company has been unable to raise the necessary capital to expand
its  sales.  The  Company  was unable to sell its products because it lacked the
capital  to  get  the  products to the market.  The Company is in the process of
raising  capital to develop a sales force, purchase inventory and plan marketing
and  promotional  strategies  to  sell  its  products.

Cost  of  Sales.  The  Cost  of  Sales  for fiscal year ended June 30, 2002, was
$277,169 or approximately  73.4%  of  net  sales,  as  compared  to $861,336, or
approximately  52.9% of net sales for the fiscal year ended June 30, 2001.  Cost
of  Sales  increased  during  this period primarily because the Company sold its
products  at  a  discounted  price  to  selected  customers.

Selling  Expenses.  Selling  expenses  for  the fiscal year ended June 30, 2002,
were  $191,498  or approximately 50.7% of net sales, as compared to $789,587, or
approximately  48.5%  of  net  sales  for  the  fiscal year ended June 30, 2001.
Selling  expenses  as  a  percentage  of  net sales remained relatively constant
during  this  period.

General  and  Administrative  expenses.  General and Administrative expenses for
the  fiscal  year ended June 30, 2002, were $1,368,568, or approximately 366.4%
of net sales, as compared to $502,470, or approximately 30.9% of net sales for
the fiscal year ended June 30, 2001. Certain employees and officers voluntarily
elected to forgo compensation and most usual employee benefits during some prior
periods,  and  elected  to receive below market salaries in other prior periods.
In  recognition  of  these  circumstances,  the


                                       11
<PAGE>


Company  authorized  a one-time bonus to these individuals.  This bonus was paid
through  the  issuance  of  shares  of  the  Company's common stock, which value
totaled  $869,500.    Excluding  this one-time action and the associated fees of
$110,000 for filing the Company's C211 with the NASD, General and Administrative
expenses  decreased  by  approximately  $116,880  for  the  period.

Other  Income  (Expense). Other Income including interest income and expense for
the  fiscal  year  ended  June  30, 2002, compared to fiscal year ended June 30,
2001,  decreased  from  $3220  to  ($5239).    This  decrease  was the result of
interest  expense  incurred  on  short-term  borrowing.

Net  Income  (Loss).  For the fiscal year ended June 30, 2002, the Company had a
net  loss  of  $(1,465,637)  or  $(0.07) per share as compared to a net loss of
$(523,675)  or $(0.03) per share for the fiscal year ended June 30, 2001.  This
increase  in  net  loss is attributed to the one-time bonus which was charged to
salary  expense  in  the  amount  of  $869,500,  the  increase  in  General  and
Administrative  expense  and  to  the  increase  in  Cost  Sales for the period.

Liquidity  and  Capital  Resources.  Since  its inception, IFPG has financed its
cash  requirements  from  cash  generated  from  operations,  the sale of equity
securities,  vendor  lines  of  credit  and  short-term debt.   IFPG's principal
sources  of  liquidity as of June 30, 2002, consisted of approximately $3,727 in
cash  and  cash  equivalents.

 Total  assets  decreased  from $394,138, for the period ended June 30, 2001, to
$208,546,  for  the  period  ended  June 30, 2002.  This decrease was due to the
decrease  in  accounts receivable of approximately $189,248 and for the deletion
of  allowance for credits of approximately $56,800.  Total liabilities decreased
from $354,086, as of the period ended June 30, 2001, to $341,530, for the period
ended  June  30,  2002.  This decrease was not significantly attributable to any
particular  liability.

The  Total  Shareholders  Equity  decreased  from $40,053, as of the fiscal year
ended  June  30,  2001, to $(132,983) as of the fiscal year ended June 30, 2002.

Material  events  and  uncertainties.  IFPG anticipates that it will begin to be
profitable  during  the  second quarter of fiscal year 2003.  For this to happen
the Company must be successful in raising additional capital in order to deliver
its  products  to  the  marketplace.  Prior to this, IFPG will continue to raise
additional  capital,  factor  accounts  receivable  or  obtain  debt  financing.
Additionally, IFPG must be able to continue to develop markets and gain consumer
acceptance  of  its  products.

While  IFPG  believes  that  these  statements  are accurate, IFPG's business is
dependent  upon  general  economic conditions and various conditions specific to
the  food  industry.  Accordingly, future trends and results cannot be predicted
with  certainty.

                                       12

<PAGE>

Management  is  of  the  opinion  that  IFPG's  current  sources  of  cash  are
insufficient  for  the ensuing twelve months.  IFPG intends, prior to the end of
the twelve months, to raise additional capital through a private stock offering.

Certain  Trends  and  Uncertainties:

IFPG  has  in  the  past  and may in the future make forward-looking statements.
Certain  of  the  statements  contained  in  this  document  involve  risks  and
uncertainties.  The  future  results  of IFPG could differ materially from those
statements.  Factors that could cause or contribute to such differences include,
but  are not limited to those discussed in this document.  These  statements are
subject  to  risks  and  uncertainties that could cause actual results to differ
materially  from  those  predicted.  Such  risks and uncertainties include,  but
are  not  limited  to  the  following:

Commodity  Prices  and  Competition:

IFPG  is  subject to market risk with respect to the cost of commodities because
IFPG's  ability to recover increased costs through higher pricing may be limited
by  the  competitive  environment  in which it operates.  The markets for IFPG's
products are characterized by frequent new product introductions.  IFPG's future
success is dependent upon the timely completion and introduction of new products
at  competitive  prices  and  quality levels.  In addition, IFPG must respond to
competitors  in  IFPG's  markets.  If  IFPG  is  not  able  to accomplish timely
introduction  of  new  products,  increase  its  market  share  of  existing
products,  or  to  respond  effectively  to  competition,  its  business  and
operating  results  could  be  adversely  affected.

Raw  Materials  and  Other  Supplies:

The  snack  food  industry  has  ample manufacturing capacity and is expected to
continue to do so in the future.  The prices IFPG pays for its raw materials are
subject  to  fluctuation.  When  prices increase, IFPG may or may not be able to
pass  on such increases to its customers.  IFPG's results of operations could be
adversely  affected  if  its  raw  material suppliers are unwilling or unable to
supply  a  timely and sufficient supply of product to IFPG and if IFPG is unable
to  pass  on  price  increases  to  its  customers.

Freight  Costs:

The cost to ship product is the single most important cost to reduce.  IFPG must
continue  to find new and cost effective ways to reduce its freight costs.  IFPG
must  continue  to  manufacture as close as possible to its customers and reduce
orders  that  are  less  than  truckload in size.  If IFPG is not able to reduce
these  costs,  its  business  and operating results could be adversely affected.


                                       13

<PAGE>


CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE
SECURITIES  LITIGATION  REFORM  ACT  OF  1995

From  time  to  time,  the  Company  will  make written and oral forward-looking
statements  about  matters  that involve risk and uncertainties that could cause
actual  results  to differ materially from projected results.  Important factors
that  could  cause  actual  results  to differ materially include, among others:

     -    General  domestic  economic  and  political  conditions;
     -    Changes  in  laws  and  government  regulations,  including  without
          limitation  regulations  of  the  Securities  and Exchange Commission;
     -    The  availability  and timing of receipt of necessary outside capital;
     -    Other  risk  factors  described  from  time  to  time in the Company's
          filings  with  the  Securities  and  Exchange  Commission.

Many  of  these factors are beyond the Company's ability to control and predict.
Investors  are  cautioned  not  to  place  undue  reliance  on  forward-looking
statements.  The  Company  disclaims  any  intent  or  obligation  to update its
forward-looking  statements,  whether  as a result of receiving new information,
the  occurrence  of  future  events,  or  otherwise.


                                       14

<PAGE>


ITEM  7.  FINANCIAL  STATEMENTS


                     INTERNATIONAL FOOD PRODUCTS GROUP, INC.
                   (FORMERLY GOLDEN CHOICE FOODS CORPORATION)
                        INDEX TO THE FINANCIAL STATEMENTS
                      AS OF JUNE 30, 2002 AND 2001 AND FOR
           FOR EACH OF THE TWO YEARS IN THE PERIOD ENDED JUNE 30, 2002



  Report  of  Independent  Auditors                                         F-1

  Financial  Statements  of  International  Food  Products  Group:

     Balance  Sheets,  June  30,  2002  and  2001                           F-2

     Statements of Operations For Each of the Two Years in
      the Period Ended June 30,  2002                                       F-3

     Statements of Shareholders' Equity For Each of the Two
      Years in the Period Ended  June  30,  2002                            F-4

     Statements  of  Cash  Flows  For Each of the Two Years
      in the Period Ended June  30,  2002                                   F-5

  Notes  to  the  Financial  Statements                                     F-7

                                       15

<PAGE>






                     INTERNATIONAL FOOD PRODUCTS GROUP, INC.
                   (FORMERLY GOLDEN CHOICE FOODS CORPORATION)
                              FINANCIAL STATEMENTS
                        AS OF JUNE 30, 2002 AND 2001 AND
           FOR EACH OF THE TWO YEARS IN THE PERIOD ENDED JUNE 30, 2002


<PAGE>




                     INTERNATIONAL FOOD PRODUCTS GROUP, INC.
                   (FORMERLY GOLDEN CHOICE FOODS CORPORATION)
                        INDEX TO THE FINANCIAL STATEMENTS
                        AS OF JUNE 30, 2002 AND 2001 AND
           FOR EACH OF THE TWO YEARS IN THE PERIOD ENDED JUNE 30, 2002



Report  of  Independent  Auditors                                              1

Financial  Statements  of  International  Food  Products  Group,  Inc.:

  Balance  Sheets,  June  30,  2002  and  2001                                 2


  Statements  of Operations For Each of the Two Years
   in the Period Ended June 30, 2002                                           3

  Statements  of  Shareholders'  Equity (Deficit) For
   Each of the Two Years in the Period  Ended  June  30,  2002                 4

  Statements  of Cash Flows For Each of the Two Years in
   the Period Ended June 30, 2002                                              5

Notes  to  the  Financial  Statements                                          7




<PAGE>


                         REPORT OF INDEPENDENT AUDITORS


To  the  Board  of  Directors
International  Food  Products  Group,  Inc.  (formerly  Golden  Choice  Foods
Corporation)


We  have  audited the accompanying balance sheets of International Food Products
Group,  Inc.  (formerly Golden Choice Foods Corporation) as of June 30, 2002 and
2001  and  the  related statements of operations, shareholders' equity (deficit)
and  cash  flows  for  each  of the two years in the period ended June 30, 2002.
These  financial  statements are the responsibility of the Company's management.
Our  responsibility is to express an opinion on these financial statements based
on  our  audits.

We conducted our audits in accordance with auditing standards generally accepted
in  the  United  States  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  audits  provide  a
reasonable  basis  for  our  opinion.

In  our  opinion,  the financial statements referred to above present fairly, in
all  material  respects,  the  financial position of International Food Products
Group,  Inc.  (formerly Golden Choice Foods Corporation) as of June 30, 2002 and
2001,  and  the results of its operations and its cash flows for each of the two
years  in  the  period  ended  June  30,  2002,  in  conformity  with accounting
principles  generally  accepted  in  the  United  States  of  America.

The  accompanying  financial  statements  have  been  prepared assuming that the
Company  will  continue  as  a going concern. As discussed in Note 10, Financial
Results,  Liquidity  and  Management's  Plan  to  the  financial statements, the
Company  has  suffered  recurring  losses  from  operations,  has  difficulties
generating  sufficient  cash  flow  to  meet  its  obligations  and  sustain its
operations,  and  has  a stockholders' capital deficiency that raise substantial
doubt  about  its  ability to continue as a going concern. Management's plans in
regard  to these matters are also described in Note 10. The financial statements
do  not  include  any  adjustments  that  might  result from the outcome of this
uncertainty.

Kelly  &  Company
Costa  Mesa,  California
November  14,  2002

                                     F-1

<PAGE>



                    INTERNATIONAL FOOD PRODUCTS GROUP, INC.
                   (FORMERLY GOLDEN CHOICE FOODS CORPORATION)
                                 BALANCE SHEETS
                         AS OF JUNE 30, 2002 AND 2001

--------------------------------------------------------------------------------


<TABLE>
<CAPTION>


                                     Assets

                                                          2002          2001
                                                      ------------  ------------
<S>                                                   <C>           <C>
Current assets:                                                02            01
  Cash and cash equivalents                           $     3,727   $     4,622
  Trade accounts receivable, net                                -       132,448
  Inventories, net                                        191,729       225,041
  Prepaid expenses                                          2,143         2,143
                                                      ------------  ------------
Total current assets                                      197,599       364,254
Note receivable - related party                                 -        12,826
Property and equipment, net                                 4,655         8,693
Intangible assets, net                                      5,292         7,366
Other assets                                                1,000         1,000
                                                      ------------  ------------
TOTAL ASSETS                                          $   208,546   $   394,139
                                                      ============  ============

                     Liabilities and Shareholders' Equity (Deficit)


Current liabilities:
  Trade accounts payable                              $   275,753   $   318,501
  Accrued expense                                          22,690        10,438
  Notes payable - third party                              31,722             -
  Note payable - related party                             11,365        25,147
                                                      ------------  ------------
TOTAL LIABILITIES                                         341,529       354,086
                                                      ------------  ------------



Commitments and contingencies
Shareholders' equity (deficit):
  Common stock: $.001
   par value; 50,000,000
   shares authorized; 21,513,803
   and 18,643,274 shares
   issued and outstanding at
   June 30, 2002 and
   2001, respectively.                                     21,524        18,644
  Additional paid-in capital                            3,399,819     2,110,099
  Accumulated deficit                                  (3,554,327)   (2,088,690)
                                                      ------------  ------------
TOTAL SHAREHOLDERS' EQUITY (DEFICIT)                     (132,984)       40,053
                                                      ------------  ------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)  $   208,546   $   394,139
                                                      ============  ============

</TABLE>

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


                                     F-2


<PAGE>



                     INTERNATIONAL FOOD PRODUCTS GROUP, INC.
                   (FORMERLY GOLDEN CHOICE FOODS CORPORATION)
                            STATEMENTS OF OPERATIONS
           FOR EACH OF THE TWO YEARS IN THE PERIOD ENDED JUNE 30, 2002




<TABLE>
<CAPTION>



                                            2002         2001
                                        ------------  -----------
<S>                                     <C>           <C>
Gross sales                             $   400,704   $1,860,714
  Less: returns, discounts
   and allowances                           (23,067)    (232,346)
                                        ------------  -----------
Net sales                                   377,637    1,628,368
  Cost of sales                             277,169      861,336
                                        ------------  -----------
  Gross profit                              100,468      767,032
Selling expenses                            191,498      789,857
General and administrative
 expenses                                 1,368,568      502,470
                                        ------------  -----------
LOSS FROM OPERATIONS                     (1,459,598)    (525,295)
                                        ------------  -----------
Other income (expense):
  Interest expense                           (2,318)        (165)
  Interest expense - related party           (3,260)           -
  Interest income                               339        2,937
  Interest income - related parties               -          448
                                        ------------  -----------
                                             (5,239)       3,220
                                        ------------  -----------
LOSS BEFORE PROVISION FOR INCOME TAXES   (1,464,837)    (522,075)
                                        ------------  -----------
  Provision for income taxes                   (800)      (1,600)
                                        ------------  -----------
NET LOSS                                $(1,465,637)  $ (523,675)
                                        ============  ===========
NET LOSS PER SHARE, BASIC AND DILUTED   $     (0.07)  $    (0.03)
                                        ============  ===========
</TABLE>

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

                                     F-3

<PAGE>



                     INTERNATIONAL FOOD PRODUCTS GROUP, INC.
                   (FORMERLY GOLDEN CHOICE FOODS CORPORATION)
                  STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT)
           FOR EACH OF THE TWO YEARS IN THE PERIOD ENDED JUNE 30, 2002



<TABLE>
<CAPTION>


                                                  Additional
                              Common     Common   Paid-in     Accumulated
                              Shares     Stock    Capital     Deficit        Total
                            ----------  -------  ----------  ------------  ------------
<S>                         <C>         <C>      <C>         <C>           <C>
BALANCE, JUNE 30, 2000      18,623,274  $18,624  $2,095,119  $(1,565,015)  $   548,728
  Shares issued for services    20,000       20      14,980            -        15,000
  Net loss                           -        -           -     (523,675)     (523,675)
                            ----------  -------  ----------  ------------  ------------
BALANCE JUNE 30, 2001       18,643,274   18,644   2,110,099   (2,088,690)       40,053
  Shares issued in private
  placement offerings          393,635      393     324,832            -       325,225
  Shares issued for services 2,447,500    2,448     951,927            -       954,375
  Shares issued for in
   satisfaction of debt         39,394       39      12,961            -        13,000
  Net loss                           -        -           -   (1,465,637)   (1,465,637)
                            ----------  -------  ----------  ------------  ------------
BALANCE JUNE 30, 2002       21,523,803  $21,524  $3,399,819  $(3,554,327)     (132,984)
                            ==========  =======  ==========  ============  ============

</TABLE>

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

                                     F-4


<PAGE>



                     INTERNATIONAL FOOD PRODUCTS GROUP, INC.
                   (FORMERLY GOLDEN CHOICE FOODS CORPORATION)
                            STATEMENTS OF CASH FLOWS
           FOR EACH OF THE TWO YEARS IN THE PERIOD ENDED JUNE 30, 2002







                                           2002         2001
                                       ------------  ----------
Cash flows from operating activities:
  Net loss                             $(1,465,637)  $(523,675)
    Adjustments to reconcile
     net loss to net cash
     used by operating
     activities:
      Depreciation                           4,739       5,166
      Amortization                           2,074       2,215
      Provision for uncollectible
       accounts                                  -      64,995
      Reserve for obsolete
       and slow moving
       inventory                            26,816           -
      Interest accrued on note
       payable                               1,722           -
      Interest accrued on note
       payable - related party               3,360           -
      Interest accrued on note
       receivable - related party             (336)          -
      Officer's salary offset
        against note receivable
        - related party                      1,262           -
       Shares issued for
        services - related party           954,376      15,000
       Provision for sales
        discounts, returns and
        allowances                               -      71,522


      Decrease (increase) in assets:
         Trade accounts receivable         132,448     (29,191)
         Inventories                         6,496     (40,764)
         Prepaid expenses                        -         830
         Payroll advances                   (2,000)          -
         Other assets                            -      12,530

      Increase (decrease) in liabilities:
         Accounts payable                  (42,749)     46,577
         Accrued expenses                   24,151     (22,810)
                                       ------------  ----------
NET CASH USED IN
OPERATING ACTIVITIES                      (353,278)   (397,605)
                                       ------------  ----------
Cash flows from investing activities:
  Purchases of property
   and equipment                              (700)     (3,901)
  Increase of notes receivable
   from a related party                          -        (447)
                                       ------------  ----------
NET CASH PROVIDED BY
(USED IN) INVESTING ACTIVITIES                (700)     (4,348)
                                       ------------  ----------



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

                                     F-5



<PAGE>



                     INTERNATIONAL FOOD PRODUCTS GROUP, INC.
                   (FORMERLY GOLDEN CHOICE FOODS CORPORATION)
                            STATEMENTS OF CASH FLOWS
           FOR EACH OF THE TWO YEARS IN THE PERIOD ENDED JUNE 30, 2002



<TABLE>
<CAPTION>



                                                                         2002        2001
                                                                      ----------  ----------
<S>                                                                   <C>         <C>
Cash flows from financing activities:
   Proceeds from issuance of
    common stock                                                      $ 325,225           -
  Proceeds from issuance of
    note payable - third party                                           70,000           -
  Payments on a note payable                                            (40,000)          -
  Proceeds from issuance of
   a note payable from
   related parties                                                       15,000   $  25,147
  Payment on a note
   payable from a
   related party                                                        (17,142)          -
                                                                      ----------  ----------
CASH PROVIDED BY
FINANCING ACTIVITIES                                                    353,083      25,147
                                                                      ----------  ----------
NET DECREASE IN CASH
AND CASH EQUIVALENTS                                                       (895)   (376,806)
CASH AND CASH EQUIVALENTS
 AT BEGINNING OF YEAR                                                     4,622     381,428
                                                                      ----------  ----------
CASH AND CASH EQUIVALENTS
AT END OF YEAR                                                        $   3,727   $   4,622
                                                                      ==========  ==========


                        Supplemental Disclosures of Cash Flow Information
                                                                           2002        2001
                                                                      ----------  ----------
Interest paid                                                         $     596           -
Income taxes paid                                                     $     800   $   1,600


                  Supplemental Schedule of Non-cash Investing and Financing Activities

Issuance of shares for services:
  General and administrative expenses                                 $ 909,376   $      20
  Selling expenses                                                    $  45,015   $  14,980
  Common stock                                                        $  (2,448)          -
  Additional paid-in capital                                          $(951,943)  $  15,000
</TABLE>


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


                                     F-6


<PAGE>


                     INTERNATIONAL FOOD PRODUCTS GROUP, INC.
                   (FORMERLY GOLDEN CHOICE FOODS CORPORATION)
                        NOTES TO THE FINANCIAL STATEMENTS
                        AS OF JUNE 30, 2002 AND 2001 AND
           FOR EACH OF THE TWO YEARS IN THE PERIOD ENDED JUNE 30, 2002



1.     DESCRIPTION  OF  THE  COMPANY'S  BUSINESS
       -----------------------------------------
International  Food  Products  Group,  Inc.  (formerly  Golden  Choice  Foods
Corporation)  (the  "Company"),  was  a  Delaware corporation, and was formed in
April 1996 to engage in the marketing and sales of snack food products.  On June
1,  2001,  the  Company  was redomiciled in the State of Nevada, and on June 21,
2001  changed  its name to International Food Products Group, Inc.  Sales of the
Company's  snack  food  products  commenced  in  fiscal  year  1997.

All  of  the  Company's  products  are produced to Company specifications by two
third-party  food  processors  ("co-packers").  Individual  product  bags  and
shipping  boxes  are  designed  by  the  Company  and provided to the co-packers
located  in San Bernardino, California and Chicago, Illinois, to package product
orders.  In  general,  the  co-packers produce, pack, and warehouse the finished
products  until  they  are  ready  to  ship  to  the  customers.

2.     SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES
       ----------------------------------------------
     Revenue  Recognition

Product  revenues  are recognized upon shipment to the customers. Provisions for
discounts  and rebates to customers, estimated returns and allowances, and other
adjustments  are  provided  for  in  the  same  period  the related revenues are
recorded.

     Cash  and  Cash  Equivalents

Cash  and  cash  equivalents  consist of highly liquid investments with original
maturities  of  three  months  or  less.  The  Company  has  no  requirement for
compensating balances.  The Company did not have cash balances that exceeded the
federally  insured  limits  at  June  30,  2002.

     Inventories

Inventories  are  stated at the lower of cost or market. Cost is determined on a
standard  cost  basis,  which  approximates  the  first  in-first  out method of
valuation.  Market  is  determined  based on net realizable value. The Company's
management  monitors  its  inventories  for  excess,  obsolete, slow moving, and
calendar  date  sensitive  items  and makes necessary valuation corrections when
such  adjustments  are  required.

                                     F-7

<PAGE>


                     INTERNATIONAL FOOD PRODUCTS GROUP, INC.
                   (FORMERLY GOLDEN CHOICE FOODS CORPORATION)
                        NOTES TO THE FINANCIAL STATEMENTS
                        AS OF JUNE 30, 2002 AND 2001 AND
           FOR EACH OF THE TWO YEARS IN THE PERIOD ENDED JUNE 30, 2002



2.     SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES,  CONTINUED
       ----------------------------------------------------------

     Property  and  Equipment

Property  and  equipment  are  recorded  at  cost  and are depreciated using the
straight-line  method  over  the expected useful lives noted below. The cost and
related  accumulated  depreciation  of assets are removed from the accounts upon
retirement  or  other disposition, and the resulting profit or loss is reflected
in  the statement of operations. Renewals and betterments that materially extend
the  life  of  the  assets  are  capitalized.
                                                 Estimated
                                                   Useful
                                                    Life
                                                 ---------
    Computer  equipment                          3  years
    Furniture  and  fixtures                     3  years



     Impairment  of  Long-Lived  Assets

The  Company  annually  evaluates  its long-lived assets, including identifiable
intangible  assets, such as its patents and trademarks for potential impairment.
When  circumstances  indicate  that  the  carrying  amount  of  an  asset is not
recoverable,  as  demonstrated  by  the  projected  undiscounted  cash flows, an
impairment  loss  is  recognized.  The  Company's management has determined that
there was no such long-lived asset impairment present at June 30, 2002 and 2001.

     Intangible  Assets

Intangible  assets  includes  two patents and a trademark, which are recorded at
cost  and amortized on a straight line basis over the five-year estimated useful
lives  of  the  assets.  The original cost of the intangibles assets is $11,692.
Accumulated  amortization  was  $6,400  and  $4,326  at  June 30, 2002 and 2001,
respectively.  The  costs  involved in the acquisition of patents and trademarks
are  recorded  as  other  assets  until  the  patent  or  trademark  is granted.
Following  are  the  estimated aggregate amortization expense for the years June
30:

2003                                                             $     2,259
2004                                                             1,588
2005                                                             916
2006                                                             265
2007                                                             265


                                     F-8

<PAGE>
                     INTERNATIONAL FOOD PRODUCTS GROUP, INC.
                   (FORMERLY GOLDEN CHOICE FOODS CORPORATION)
                        NOTES TO THE FINANCIAL STATEMENTS
                        AS OF JUNE 30, 2002 AND 2001 AND
           FOR EACH OF THE TWO YEARS IN THE PERIOD ENDED JUNE 30, 2002



 2.     SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES,  CONTINUED
        ----------------------------------------------------------

     Income  Taxes

Deferred  income  taxes  are  determined  based  on  the  difference between the
financial reporting and tax bases of assets and liabilities. Deferred income tax
expense  (benefit)  represents  the  change  during  the reporting period in the
deferred  tax  assets  and  deferred tax liabilities. Deferred tax assets and/or
liabilities are classified as current and noncurrent based on the classification
of  the related asset or liability for financial reporting purposes, or based on
the  expected  reversal date for deferred taxes that are not related to an asset
or  liability. Deferred tax assets include tax loss and credit carryforwards and
are reduced by a valuation allowance if, based on available evidence, it is more
likely  than not that some portion or all of the deferred tax assets will not be
realized.

The  Company  currently has net operating loss ("NOL") carryforwards that can be
utilized  to  offset future income for federal and state tax purposes. The NOL's
generate  a  significant deferred tax asset. However, the Company has recorded a
valuation  allowance  against  this deferred tax asset as it has been determined
that it is more likely than not that the Company will not generate future income
that  the  NOL's  could  offset.

     Common  Shares  and  Per  Share  Amounts

In June 2001, the Company was redomiciled in the State of Nevada and each common
share of Golden Choice Foods Corporation (Delaware) was exchanged for two common
shares  of  Golden  Choice  Foods Corporation (Nevada). The Company later in the
month  June 2001 changed its name.  All common shares and per share amounts have
been  adjusted  to  give  effect  to  that  share  exchange.

     Stock-Based  Compensation

Statement  of  Financial  Accounting  Standards ("SFAS") No. 123, Accounting for
Stock-Based  Compensation,  established  accounting  and disclosure requirements
using  a  fair-value-based  method  of  accounting  for  stock-based  employee
compensation  plans.  As  permitted  by SFAS No. 123, the Company has elected to
continue  to  account  for stock-based employee compensation using the intrinsic
value method prescribed in APB No. 25 and related interpretations and to provide
additional disclosures with respect to the pro forma effects of adoption had the
Company recorded compensation expense as provided by SFAS No. 123. In accordance
with  APB  No.  25,  compensation  cost  for  stock options is recognized as the
excess,  if any, of the market price of the Company's stock at the date of grant
over  the  amount  an  employee  must  pay  to acquire the stock. Generally, the
exercise  price  for  stock

                                     F-9

<PAGE>

                     INTERNATIONAL FOOD PRODUCTS GROUP, INC.
                   (FORMERLY GOLDEN CHOICE FOODS CORPORATION)
                        NOTES TO THE FINANCIAL STATEMENTS
                        AS OF JUNE 30, 2002 AND 2001 AND
           FOR EACH OF THE TWO YEARS IN THE PERIOD ENDED JUNE 30, 2002



 2.     SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES,  CONTINUED
        ----------------------------------------------------------

     Stock-Based  Compensation,  Continued

options  granted  to  employees  equals  or exceeds the fair market value of the
Company's common stock at the date of grant, thereby resulting in no recognition
of  compensation expense by the Company.  Compensation cost is recorded over the
requisite  vesting  periods  based on the market value on the date of grant. The
Company accounts for stock-based compensation to nonemployees in accordance with
SFAS  No.  123.

     Shipping  Costs

Shipping  costs are included in selling expenses and was  $124,677 and  $390,155
for  fiscal  years  2002  and  2001,  respectively.

     Use  of  Estimates

The preparation of financial statements in conformity with accounting principles
generally  accepted  in the United States of America requires management to make
estimates  and  assumptions  that  affect  the amounts reported in the financial
statements  and  the  accompanying  notes.  Changes  in  these  estimates  and
assumptions are considered reasonably possible and may have a material impact on
the  financial  statements.

     Advertising  Costs

Advertising  costs  are expensed when they are incurred. Advertising expense was
$0  and  $93,348  for  the  years  ended  June  30, 2002 and 2001, respectively.

     Product  Development

The  Company's  product  development activities principally involve product name
selection,  product  shape  determination,  artistic  design  of  the  product
packaging,  arrangement  for the related manufacturing extrusion tools and dies,
selection of seasonings, grains and other ingredients, taste and market testing.
The  costs  of these activities are expensed as incurred and for the years ended
June  30,  2002  and  2001  were  $16,401  and  $34,981,  respectively.

     Reclassifications

Certain  prior  year  amounts  have  been reclassified to conform to fiscal 2002
presentation.  These  changes  had  no  impact on previously reported results of
operations  or  shareholders'  equity  (deficit).

                                     F-10

<PAGE>

                     INTERNATIONAL FOOD PRODUCTS GROUP, INC.
                   (FORMERLY GOLDEN CHOICE FOODS CORPORATION)
                        NOTES TO THE FINANCIAL STATEMENTS
                        AS OF JUNE 30, 2002 AND 2001 AND
           FOR EACH OF THE TWO YEARS IN THE PERIOD ENDED JUNE 30, 2002




 2.     SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES,  CONTINUED
        ----------------------------------------------------------

     Recent  Accounting  Pronouncements

In  June  2001, the Financial Accounting Standards Board ("FASB") issued two new
pronouncements:  SFAS  No. 141, Business Combinations and SFAS No. 142, Goodwill
and  Other  Intangible Assets".  SFAS No. 141 is effective as follows: a) use of
the pooling-of-interest method is prohibited for business combinations initiated
after  June  30,  2001;  and b) the provisions of SFAS No. 141 also apply to all
business  combinations  accounted  for by the purchase method that are completed
after  June  30,  2001  (that  is,  the  date of the acquisition is July 2001 or
later).  The adoption of SFAS No. 141 had no impact on the financial position or
results  of operations. SFAS No. 142 is effective for the fiscal years beginning
after December 15, 2001 with respect to all goodwill and other intangible assets
recognized  in  an  entity's  statement  of  financial  position  at  that date,
regardless  of  when  those  assets  were  initially  recognized.  SFAS  No. 142
specifies  that  all goodwill and intangibles with indefinite lives shall not be
amortized.  Goodwill must be evaluated for impairment on an annual basis with an
initial  impairment  assessment  to be performed upon adoption of the Statement.
The  Company  has  evaluated the provisions of SFAS No. 142 and will not have to
record  any  impairment  of goodwill upon the adoption of SFAS No. 142, which is
effective July 1, 2002. At June 30, 2002, the Company had unamortized intangible
assets  of  $5,292  and  recorded  $6,400  of  accumulated  amortization.

In  August  2001, the FASB issued SFAS No. 144, Accounting for the Impairment or
Disposal of Long-Lived Assets. SFAS No. 144 retains the requirements of SFAS No.
121,  Accounting  for  the  Impairment  of  Long-Lived Assets and for Long-Lived
Assets to be Disposed Of, to recognize an impairment loss if the impairment loss
of  the  carrying  amount  of  a  long-lived  asset  is not recoverable from its
undiscounted  cash  flows  and  to  measure an impairment loss as the difference
between  the  carrying amount and fair value of the asset. SFAS No. 144 modifies
SFAS  No.  121  in  that  it  eliminates the requirement to allocate goodwill to
long-lived  assets  to  be  tested for impairment. SFAS No. 144 is effective for
fiscal  years  beginning  after  December  15,  2001,  and  early  adoption  is
encouraged.  The  Company plans to adopt SFAS No. 144 effective July 1, 2002 and
the  impact  is  not  believed  to  be  material.

In  May  2001,  the  FASB  issued  Statement No. 145, which rescinds SFAS No. 4,
Reporting  Gains and Losses from Extinguishment of Debt, SFAS No. 44, Accounting
for  Intangible  Assets  of  Motor Carriers, and SFAS No. 64, Extinguishments of
Debt  Made  to Satisfy Sinking-Fund Requirements (SFAS 145). This Statement also
amends  SFAS No. 13, Accounting for Leases to eliminate an inconsistency between
the  required  accounting  for  sale-leaseback  transactions  and  the  required
accounting  for  certain lease modifications that have economic effects that are

                                     F-11

<PAGE>

                     International Food Products Group, Inc.
                   (Formerly Golden Choice Foods Corporation)

                        Notes to the Financial Statements

                        As of June 30, 2002 and 2001 and
           For Each of the Two Years in the Period Ended June 30, 2002
--------------------------------------------------------------------------------


2.     Summary  of  Significant  Accounting  Policies,  Continued
       ----------------------------------------------------------

     Recent  Accounting  Pronouncements,  Continued

similar  to sale-leaseback transactions. As a result of the rescission of SFAS 4
and  SFAS 64, the criteria in Accounting Principles Board Opinion No. 30 will be
used  to classify gains and losses from debt extinguishment. This Statement also
amends  other  existing  authoritative  pronouncements to make various technical
corrections,  clarify  meanings,  or  describe their applicability under changed
conditions.  SFAS 145 is effective for the Company's 2003 fiscal year, and early
adoption  is  permitted.  The Company is currently evaluating the impact of SFAS
145  to  determine  the  effect, if any, it may have on the Company's results of
operations,  financial  position  or  cash  flows.

In July 2002, the FASB issued Statement No. 146, Accounting for Costs Associated
with  Exit  or  Disposal  Activities  ("SFAS  146"),  which  addresses financial
accounting  and reporting for costs associated with exit or disposal activities,
and  nullifies  Emerging  Issues  Task  Force ("EITF") Issue No. 94-3, Liability
Recognition for Certain Employee Termination Benefits and Other Costs to Exit an
Activity  (including  Certain Costs Incurred in a Restructuring)which previously
governed the accounting treatment for restructuring activities. SFAS 146 applies
to  costs associated with an exit activity that does not involve an entity newly
acquired  in  a business combination or with a disposal activity covered by SFAS
144. Those costs include, but are not limited to, the following: (1) termination
benefits  provided  to current employees that are involuntarily terminated under
the terms of a benefit arrangement that, in substance, is not an ongoing benefit
arrangement  or  an  individual  deferred-compensation  contract,  (2)  costs to
terminate  a  contract that is not a capital lease, and (3) costs to consolidate
facilities  or  relocate  employees.  This  Statement  does  not  apply to costs
associated  with  the  retirement of long-lived assets covered by SFAS 143. SFAS
146  is  effective  for exit or disposal activities initiated after December 31,
2002,  and  early adoption is permitted. The Company is currently evaluating the
impact of SFAS 146 to determine the effect, if any, it may have on the Company's
results  of  operations,  financial  position  or  cash  flows.

3.     Trade  Accounts  Receivable
       ---------------------------

The Company's accounts receivable are presented net of an allowance for doubtful
accounts  and  for sales and returns and allowances of $56,890 at June 30, 2001.
The  Company ceased the sale of its product lines during the year ended June 30,
2002  so  that  there  were  no  trade accounts receivable and no allowances for
doubtful  accounts  and  sales  returns  at  June  30,  2002.


                                     F-12


<PAGE>

                     International Food Products Group, Inc.
                   (Formerly Golden Choice Foods Corporation)

                        Notes to the Financial Statements

                        As of June 30, 2002 and 2001 and
           For Each of the Two Years in the Period Ended June 30, 2002
--------------------------------------------------------------------------------


4.     Inventories
       -----------

Inventories  consisted  of  the  following:

                                                        2002       2001
                                                      ---------  --------

Packaging materials                                   $218,545   $195,032
Finished goods                                               -     30,009
                                                      ---------  --------
                                                       218,545   225,041

Less: Reserve for obsolete and slow moving
  inventory                                            (26,816)        -
                                                      ---------  --------
Total inventories                                     $191,729   $225,041
                                                      =========  ========


The  reserve for slow moving inventory is based on estimates of the usage of the
various  types  of packaging based on management's projected sales plans. If the
Company's  sales  plan  do not materialize and sales are lower than anticipated,
the  reserve  for slow moving inventory could increase. Changes in this estimate
and  the underlying sales assumptions are considered reasonably possible and may
have  a  material  impact  on  the  financial  statements.

5.     Property  and  Equipment
       ------------------------

Property  and  equipment  consisted  of  the  following:

                                 2002      2001
                                -------  ---------

Computer equipment              $35,090  $ 35,090
Furniture and fixtures            2,424     1,723
                                -------  ---------
                                 37,514    36,813

Less: accumulated depreciation   32,859   (28,120)
                                -------  ---------
Total property and equipment    $ 4,655  $  8,693
                                =======  =========


Depreciation  expense  for the years ended June 30, 2002 and 2001 was $4,739 and
$5,166,  respectively.


                                     F-13


<PAGE>

                     International Food Products Group, Inc.
                   (Formerly Golden Choice Foods Corporation)

                        Notes to the Financial Statements

                        As of June 30, 2002 and 2001 and
           For Each of the Two Years in the Period Ended June 30, 2002
--------------------------------------------------------------------------------


6.     Notes  Payable  -  Third  Party  (Current)
       ------------------------------------------

Notes payable - third party (current) at June 30, 2002 consist of the following:

Note payable to Volkl Investments, LLC with an
 interest rate of 10% per annum, uncollateralized,
 with principal and interest due at December 31, 2002.          $15,301

Note payable to Volkl Investments, LLC with an
 interest rate of 10% per annum, uncollateralized,
 with principal and interest due at December 31, 2002.           16,421
                                                                 ------
Notes payable - third party (current)                           $31,722
                                                                =======

Following  are  the maturities of notes payable - third party for the year ended
June  30  including  notes  payable  -  related  party:

                    2003                                        $43,087
                    2004                                              -
                    2005                                              -
                    2006                                              -
                    2007 and thereafter                               -

Interest expense from a related party for the years ended June 30, 2002 and 2001
was  $5,578  and  $165,  respectively.


                                     F-14


<PAGE>

                     International Food Products Group, Inc.
                   (Formerly Golden Choice Foods Corporation)

                        Notes to the Financial Statements

                        As of June 30, 2002 and 2001 and
           For Each of the Two Years in the Period Ended June 30, 2002
--------------------------------------------------------------------------------


7.     Deferred  Income  Taxes
       -----------------------

The  components  of  the  provision  for  income  taxes  are  as  follows:



                                     For the Years  Ended June 30,
                                     -----------------------------
                                          2002             2001
                                     -------------  --------------
Current tax expense:
     Federal                                   -               -
     State                                   800          1,600
                                     -------------  ------------
                                             800          1,600
                                     -------------  ------------
Deferred tax expense:
     Federal                                   -              -
     State                                     -              -
                                     -------------  ------------
                                               -              -
                                     -------------  ------------
Total provision                      $       800    $     1,600
                                     =============  ============



Significant  components  of  the  Company's  deferred  income  tax  assets  and
liabilities  at  June  30,  2002  and  2001  are  as  follows:


                                     For the Years  Ended June 30,
                                     -----------------------------
                                          2002             2001
                                     -------------  --------------
Deferred income tax assets:

  Net operating loss carryforward    $ 1,495,127    $   824,359
  Allowance and reserves                  11,488         24,372
  Depreciation                             1,551            799
  Accrued expenses                         5,783              -
  Other                                      272            272
                                     -------------  ------------

    Total deferred income tax asset    1,514,221        849,802
      Valuation allowance             (1,514,221)      (849,802)
                                     -------------  ------------

  Net deferred income tax asset                -              -
                                     =============  ============


The  Company,  based  upon  its history of losses and management's assessment of
when  operations  are anticipated to generate taxable income, has concluded that
it  is more likely than not that none of the net deferred income tax assets will
be  realized  through  future  taxable  earnings and has established a valuation
allowance  for  them.


                                     F-15


<PAGE>

                     International Food Products Group, Inc.
                   (Formerly Golden Choice Foods Corporation)

                        Notes to the Financial Statements

                        As of June 30, 2002 and 2001 and
           For Each of the Two Years in the Period Ended June 30, 2002
--------------------------------------------------------------------------------


7.     Deferred  Income  Taxes,  Continued
       -----------------------------------

Reconciliation  of  the  effective  tax  rate  to  the U.S. statutory rate is as
follows:


                                        For the Years Ended June 30,
                                        ----------------------------
                                             2002          2001
                                        -------------  -------------

Tax expense at U.S. statutory rate          (34.0)%       (34.0)%
State tax provision                           0.1%          0.3%
Other                                         0.1%          0.2%
Change in valuation allowance                33.9%         33.8%
                                        -------------  -------------

Effective income tax rate                     0.1%           - %
                                        =============  =============


The  Company  also  has  Federal  and  state net operating loss carryforwards of
$3,491,828  and  $3,483,095,  respectively.  The federal and state net operating
loss  carryforwards  will  begin  to  expire  in  the  years  2018  and  2005,
respectively.

8.     Related  Party  Transactions
       ----------------------------

     Note  Receivable  -  Related  Party

The  Company  held an uncollateralized note receivable from a related party with
an  interest  rate  of  5%  per  annum. At June 30, 2001, the amount owed to the
Company  was  $12,826.  The  note receivable was satisfied during the year ended
June  30,  2002,  when the related party who is an officer of the Company offset
the  note  receivable  against  his  wages.

     Notes  Payable  -  Related  Party

Notes  payable to a related party were uncollateralized with an interest rate of
16.5  %  per annum. One of the notes was paid in full in the year ended June 30,
2002,  and  the  one  remaining  at  June  30, 2002 is due at December 31, 2002.
Amounts  owed to the related party were $11,365 and $25,147 at June 30, 2002 and
2001,  respectively.

Interest expense from a related party for the years ended June 30, 2002 and 2001
was  $5,578  and  $165,  respectively.

9.     Commitments
       -----------

The  Company  rents  its  corporate  office  on  a  month  to  month  basis.


                                     F-16


<PAGE>

                     International Food Products Group, Inc.
                   (Formerly Golden Choice Foods Corporation)

                        Notes to the Financial Statements

                        As of June 30, 2002 and 2001 and
           For Each of the Two Years in the Period Ended June 30, 2002
--------------------------------------------------------------------------------




9.     Commitments,  Continued
       -----------------------

Rental  expense  was  $33,046  and $23,805 for the years ended June 30, 2002 and
2001,  respectively.

10.     Contingencies  and  Concentrations
        ----------------------------------

     Financial  Results,  Liquidity  and  Management's  Plan

The Company has incurred net losses since inception and for the years ended June
30,  2002  and  2001  the net losses were $1,465,637 and $523,675, respectively.
Despite  its  negative  cash  flows from operations of  $353,278 and $397,605 in
fiscal  years  2002  and 2001, respectively, the Company has been able to obtain
additional operating capital through private funding sources. Management's plans
include  the  continued  development  of  the  Company's  new products and a new
customer  development  program  that  it  believes  will  enhance its ability to
generate  revenues  from  the  sale  of  the Company's products. The Company has
relied  upon equity funding from shareholders since inception. Additional equity
is  planned  to  be  raised  by  the  sale  of  common stock to new and existing
shareholders  in  order  to  fund  operations  until the Company is consistently
profitable.  While  management believes that such funding will be available, the
ability  to  obtain  and the adequacy of such funding, if any, are uncertain. No
assurances  can  be given that the Company can obtain sufficient working capital
through  the  sale  of  the Company's securities, borrowing, or that the sale of
products  will  generate  sufficient  revenues  in the future to sustain ongoing
operations. These factors raise substantial doubt about the Company's ability to
continue  as  a  going  concern.  The  financial  statements  do not include any
adjustments  that  might  be necessary if the Company is unable to continue as a
going  concern.

     Litigation

In  July  2002, a complaint was filed against the Company by a trade vendor in a
California  Superior  Court  action.  The  plaintiff's suit requests payment for
services  it  provided the Company during the year ended June 30, 2002. Based on
facts  available to management, the Company believes it is probable the ultimate
resolution  of  this  matter  will  be  for  an  amount less than it already has
recorded  as a trade account payable. The Company believes it has certain offset
claims  against  the  plaintiff  in  this  matter.

     Lack  of  Insurance  Coverage  and  a  Significant  Estimate

In  previous  years, the Company had operated without the benefit of general and
product  liability insurance coverage other than that provided by its co-packers
to  certain  of  the


                                     F-17


<PAGE>

                     International Food Products Group, Inc.
                   (Formerly Golden Choice Foods Corporation)

                        Notes to the Financial Statements

                        As of June 30, 2002 and 2001 and
           For Each of the Two Years in the Period Ended June 30, 2002
--------------------------------------------------------------------------------


10.     Contingencies  and  Concentrations,  Continued
        ----------------------------------------------

     Lack  of  Insurance  Coverage  and  a  Significant  Estimate,  Continued

Company's  larger  customers.  During  the year ended June 30, 2001, the Company
was  named  as  additional  insured  with  respect  to general liability, on the
general  liability  policies of its then two co-packers, and management believes
that  this provides adequate insurance coverage for the Company.  If the Company
is  held responsible for acts or events that are normally covered by general and
product  liability insurance that occurred during the uninsured period, or if it
loses  the coverage of the co-packers general liability policies,  it could have
an  adverse  effect  on  operating  results.  Management has no knowledge of the
existence  of  any such act or event that may have occurred during the uninsured
period.  The  at-risk  period  varies  by state based on each state's statute of
limitation  period.

     Concentration  of  Credit  Risk

Financial  instruments,  which potentially subject the Company to concentrations
of  credit  risk,  consist  primarily  of trade accounts receivable. The Company
sells  products  to  both private companies and public sector entities supplying
the  food  services  industry.  Exposure  to  losses  on  accounts receivable is
principally  dependent  on  the  individual  customer's  financial condition, as
credit sales are not collateralized. The Company monitors its exposure to credit
loss  and  reserves those accounts receivable that it deems to be uncollectible.
Four  customers  accounted for more than 10% each of revenues and totaled 56% of
revenues  for  the  year ended June 30, 2002.  One customer accounted for 22% of
revenues  for the year ended June 30, 2001.   Four customers each with more than
10%  of  the  accounts  receivable  accounted for 84% of the accounts receivable
balances  at  June 30, 2001. There were no accounts receivable outstanding as of
June  30,  2002.

     Concentration  of  Product  Co-Packers

The  Company  utilizes a co-packer to produce its products. The Company does not
currently  have  production  contracts with its co-packer. Any interruption from
this  production  source  could adversely affect the Company's ability to supply
customers  and  correspondingly  its  operating  results.

11.     Stock-Based  Compensation
        -------------------------

From  time  to  time  the  Company  has  granted  options  to  its  officers and
consultants  to  promote  the  success  of  the Company by providing the options
holders  the  opportunity  to


                                     F-18

<PAGE>
                     International Food Products Group, Inc.
                   (Formerly Golden Choice Foods Corporation)

                        Notes to the Financial Statements

                        As of June 30, 2002 and 2001 and
           For Each of the Two Years in the Period Ended June 30, 2002
--------------------------------------------------------------------------------


11.     Stock-Based  Compensation,  Continued
        -------------------------------------

acquire  an  equity  interest  in  the Company. The Company accounts for options
granted  to  employees  under  the provisions of APB No. 25 and FASB No. 123 for
nonemployees.

In January 2001, the Company granted options to an individual in connection with
his employment to purchase 400,000 shares of its common stock at $.75 per share.
The options vest over a four year period and expire ten years after vesting. The
exercise  price was equal to the estimated fair market value of the stock at the
date  of  grant,  and  therefore  no  expense  was  recognized.

The  following  table  summarizes  information  about  stock options granted and
outstanding  at June 30, 2002 and 2001, and changes during the years then ended.
Unless  otherwise  noted,  options vest on an annual pro rata basis over various
periods  of time and are exercisable, upon proper notice, in whole or in part at
any  time  upon vesting. The options granted have contractual lives ranging from
ten  to  sixteen  years.

                                       Weighted
                                       Average
                                       Exercise
                            Shares     Price
                          -----------  --------
Balance, June 30, 2000     6,500,000   $ 0.46
  Granted                    400,000     0.75
  Exercised                        -        -
  Canceled                (1,350,000)    0.75
                          -----------  --------
Balance, June 30, 2001     5,550,000     0.41
  Granted                          -        -
  Exercised                        -        -
  Canceled                         -        -
                          -----------  --------
Balance, June 30, 2002     5,550,000   $ 0.41
                          ===========  ========


The Company continues to account for stock-based compensation to employees using
the intrinsic value method prescribed in APB No. 25 whereby no compensation cost
is  recognized  for options granted at or above fair market value. If under FASB
No. 123 the Company determined compensation costs based on the fair value at the
grant date for its stock options, net loss and loss per share would have been as
shown  below. For purposes of pro forma disclosures, the estimated fair value of
the  options  is  amortized  over  their  vesting  periods.


                                     F-19

<PAGE>

                     International Food Products Group, Inc.
                   (Formerly Golden Choice Foods Corporation)

                        Notes to the Financial Statements

                        As of June 30, 2002 and 2001 and
           For Each of the Two Years in the Period Ended June 30, 2002
--------------------------------------------------------------------------------


11.     Stock-Based  Compensation,  Continued
        -------------------------------------

                                    For the Years Ended June 30,
                                    ----------------------------
                                         2002          2001
                                    ------------  ------------
Net loss:
  As reported                         $(1,465,637)  $(523,675)
  Pro forma                           $(1,465,637)  $(658,560)
Loss per share, basic and diluted:
  As reported                         $     (0.07)  $   (0.03)
  Pro forma                           $     (0.07)  $   (0.03)


For  purposes  of  the  above  pro  forma calculation, the fair value of options
granted  by the Company during the year ended June 30,  2001, is estimated using
the  Black-Scholes  Option  Pricing  Model with the weighted average assumptions
listed  below:

                                                      For the
                                                     Year Ended
                                                    June 30, 2001
                                                    -------------
     Risk-free interest rate                             5.16%
     Expected dividend yield                                -
     Expected stock price volatility                        -
     Expected life in years                             10 years

There  were  no  options  granted  in  the  year  ended  June  30,  2002.

The  Black-Scholes options valuation model was developed for estimating the fair
value  of  traded  options  that  have  no  vesting  restrictions  and are fully
transferable.  Because  option  valuation  models  require the use of subjective
assumptions,  changes  in these assumptions can materially affect the fair value
of  the  options,  and  the Company's options do not have the characteristics of
traded  options,  the  option  valuation  models  do  not  necessarily provide a
reliable  measure  of  the  fair  value  of  its  options.

The  weighted  average  estimated fair value of stock options granted during the
year  ended  June  30,  2001  was  $0.75  per  share.


                                     F-20

<PAGE>

                     International Food Products Group, Inc.
                   (Formerly Golden Choice Foods Corporation)

                        Notes to the Financial Statements

                        As of June 30, 2002 and 2001 and
           For Each of the Two Years in the Period Ended June 30, 2002
--------------------------------------------------------------------------------


11.     Stock-Based  Compensation,  Continued
        -------------------------------------

Summary  information  about  the Company's options outstanding at June 30, 2002:


                     Stock                             Stock
             Options Outstanding               Options Exercisable
          -------------------------   ----------------------------------
                         Average      Weighted
Options                 Remaining     Average
Exercise                Contractual   Exercise                 Exercise
Price     Shares           Life         Price    Shares        Price
--------  ----------    -----------   ---------  ----------    --------
$ 0.25    3,750,000         5.5        $ 0.25    3,750,000      $ 0.25
$ 0.75    1,800,000         8.2        $ 0.75    1,500,000      $ 0.75
          ----------                             ----------
          5,550,000                              5,250,000
          ==========                             ==========


12.     Disclosures  about  Fair  Values  of  Financial  Instruments
        ------------------------------------------------------------

The  estimated  fair value amounts of all financial instruments on the Company's
June  30,  2002  and 2001 balance sheets have been determined by using available
market  information  and  appropriate  valuation  methodologies.  Fair  value is
described  as the amount at which the instrument could be exchanged in a current
transaction  between  informed  willing  parties,  other  than  in  a  forced
liquidation.  However,  considerable  judgment  is  necessarily  required  in
interpreting  market  data  to develop the estimates of fair value. Accordingly,
the  estimates  presented  herein  are not necessarily indicative of the amounts
that  the  Company  could  realize  in  a  current  market  exchange. The use of
different market assumptions and/or estimation methodologies may have a material
effect  on  the  estimated  fair  value  amounts.

The  Company  does  not  have  any  off  balance  sheet  financial  instruments.

The  following  methods  and  assumptions were used by the Company in estimating
fair  value  disclosures  for  financial  statements:

Cash  and  equivalents,  accounts receivable, inventory, accounts payable, notes
payable,  and  certain  other  current  liability amounts approximate their fair
value  due  to  the  short  term  maturities  of  these  instruments.


                                     F-21

<PAGE>

                     International Food Products Group, Inc.
                   (Formerly Golden Choice Foods Corporation)

                        Notes to the Financial Statements

                        As of June 30, 2002 and 2001 and
           For Each of the Two Years in the Period Ended June 30, 2002
--------------------------------------------------------------------------------


13.     Loss  Per  Share
        ----------------

Basic  and diluted loss per common share have been computed by dividing the loss
available to common shareholders by the weighted-average number of common shares
for  the  period.

The  computations  of  basic  and  diluted loss per common share are as follows:


                                               For the Years Ended June 30,
                                               ----------------------------
                                                    2002          2001
                                               ------------  ------------
Loss per common share, basic and diluted:
  Net loss available to common shareholders    $(1,465,637)  $  (523,675)
  Weighted average shares - basic and diluted   20,635,928    18,639,986
                                               ------------  ------------
Loss per common share, basic and diluted       $     (0.07)  $     (0.03)
                                               ============  ============


The  effect of the potentially dilutive securities listed below was not included
in  the  computation of diluted loss per share, because to do so would have been
antidilutive  for  the  two  years  presented.


                                           For the Years Ended June 30,
                                           ----------------------------
                                               2002          2001
                                           -----------   -----------
Shares of common stock issuable under:
  Employee stock options                    5,050,000     5,050,000
  Nonemployee stock options                   500,000       500,000
                                           -----------   -----------
Total shares of common stock issuable       5,550,000     5,550,000
                                           ===========   ===========


14.     Stock  Transactions
        -------------------

     Private  Placement  Offerings

During  the  year  ended  June  30,  2002,  the  Company, in a private placement
offering,  sold  333,635  shares of its common stock at $0.75 per share with the
net proceeds totaling $250,225. An additional 10,000 shares were issued in error
to  an investor in one of the private placement offerings, and the Company chose
not  to  dispute  the  improper  issuance.

During  the  year  ended  June  30,  2002,  the  Company, in a private placement
offering, sold 50,000 shares of its common stock at $1.50 per share with the net
proceeds  totaling  $75,000.


                                     F-22

<PAGE>

                     International Food Products Group, Inc.
                   (Formerly Golden Choice Foods Corporation)

                        Notes to the Financial Statements

                        As of June 30, 2002 and 2001 and
           For Each of the Two Years in the Period Ended June 30, 2002
--------------------------------------------------------------------------------


14.     Stock  Transactions
        -------------------

     Shares  Issued  for  Services

During  the year ended June 30, 2001, the Company issued 20,000 shares of common
stock  for  product  advertising services. The shares were recorded at $0.75 per
share based on the fair value of the stock at the date of issuance. Accordingly,
the  Company  recognized  $15,000  of  advertising  expense.

During  the  year  ended  June  30, 2002, the Board of Directors of the Company
authorized the issuance of 2,350,000 shares of common stock to officers and
employees of the Company. The shares were issued in recognition  of  years  of
prior service to the Company during which time normal salaries  and  employee
benefits paid to the individuals were below industry standards. The Company had
a compensation study performed that was the basis for the share issuance. Of
the shares issued, 2,000,000 were issued to two  officers  and  350,000 were
issued to an employee, all of whom are related parties. These  shares  were
valued  at $0.375  per  share. This resulted in additional compensation  to
officers of $750,000  and additional compensation expense to employees  of
$131,250.

During  the year ended June 30, 2002, the Company issued 22,500 shares of common
stock  to  three  different  groups for product marketing, sales consulting, and
package  design  services.  The shares were recorded at $0.75 per share based on
the  fair  value  of the stock at the date of issuance. Accordingly, the Company
recognized  $11,250  of consulting expense and $5,625 of package design expense.

During  the year ended June 30, 2002, the Company issued 15,000 shares of common
stock  for  product  marketing  and  sales  consulting services. The shares were
recorded  at $0.75 per share based on the fair value of the stock at the date of
issuance.  Accordingly,  the  Company  recognized  $11,250  of  selling expense.

During  the year ended June 30, 2002, the Company issued 60,000 shares of common
stock  for assistance with certain of the Company's security filings. The shares
were  recorded  at  $0.75  per share based on the fair value of the stock at the
date  of  issuance.  Accordingly,  the  Company recognized $45,000 of consulting
expense.

     Shares  Issued  in  Satisfaction  of  Debt

During  the  year  ended  June 30, 2002, the Company issued 39,394 shares of the
Company's  common  stock to an officer and related party in satisfaction of debt
in  the  amount  of  $13,000.  The  shares  were  recorded  at  $0.33 per share.


                                     F-23

<PAGE>

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

We  have  had  no  disagreements with our accountants on accounting or financial
disclosures.


                                       16
<PAGE>


                                    PART III

ITEM  9.  DIRECTORS  AND  EXECUTIVE  OFFICERS  OF  THE  REGISTRANT

The  following  table  sets  forth the names, ages, and  positions with IFPG for
each  of  the  directors  and  officers  of  IFPG.

Name                      Age          Position  (1)               Since
--------                  ---          ----------------            -------
Richard  Damion           58           Chairman,  CEO  and         1996
                                       Director
Joseph R. Rodriguez, Jr.  53           CFO, President and          1996
     Director

Robert  George            67           Director                    2001

(1)  All  executive  officers are elected by the Board and hold office until the
     next  Annual Meeting of shareholders and until their successors are elected
     and  agree  to  serve.

     Richard Damion has been chairman of IFPG since it began operations in 1996.
From 1992 through 1996 he was the president and CEO of Pacific Snax Corporation,
a  snack  food  company where he was in charge of general operations and product
development.

     Joseph  R.  Rodriguez,  Jr.  has been an officer and director of IFPG since
1996.  From  1987  through 1995, Mr. Rodriguez was the president of EFC Mortgage
Corporation  where  he  was  responsible for operations and secondary marketing.

     Robert  George has been a director of the Company since August 2001. He was
owner  and  operator of RGA, Inc., at one time the largest Health Food Brokerage
company  in  America  which  he  sold  after  18  years.  In 1999 he came out of
retirement  to  become  the  Vice  President  of  Sales and part owner of Dr Soy
Nutrition, an Energy bar company that has Distribution in over 12,000 outlets in
the  U.S.  including  Wal-Mart , Sams Clubs and all U.S.Military Commissaries to
name  a  few.

SIGNIFICANT  EMPLOYEES

We do not have any employees who are not executive officers that are expected to
make  a  significant  contribution  to  the  business.

                                       17

<PAGE>

SECTION  16(A)  BENEFICIAL  OWNERSHIP  REPORTING  COMPLIANCE

The  following  persons  have  failed to file, on a timely basis, the identified
reports  required  by  Section  16(a) of the Exchange Act during the most recent
fiscal  year:

                                        Number    Transactions   Known  Failures
                                        Of  late  Not Timely     To File a
Name  and  principal  position          Reports   Reported       Required Form
-------------------------------------   --------- -------------- ---------------
None

ITEM  10.  EXECUTIVE  COMPENSATION

The  following  table  sets  forth certain information as to our Chief Executive
Officer  and  the  highest paid officers and directors for our last fiscal years
ended  June 30, 2002, 2001 and 2000.  No other compensation was paid to any such
officers  or  directors  during  this  time  period.

                        Annual Compensation Table

                 Annual Compensation               Long Term Compensation
                 -------------------               ----------------------
                                        Other                           All
                                       Annual                          Other
                                          Com    Rest-                    Com-
                                          pen-   ricted            LTIP   pen-
                   Fiscal                 sat-   Stock     Options pay-   sa-
Name       Title     Year   Salary  Bonus ion    Awarded   SARs(#) outs($) tion
--------  -------  ------   ------- ----- -----  ---- ---------- -------  ----
Joseph R. CFO,     2001-2002 $37,000    0     0  375,000       0       0     0
Rodriguez,Presi-   2000-2001 $71,500    0     0        0 500,000       0     0
Jr.       dent and 1999-2000       0    0     0        0       0       0     0
          Director

Richard   CFO,     2001-2002 $61,262    0     0  375,000       0       0     0
Damion    Presi-   2000-2001 $60,000    0     0        0 500,000       0     0
          dent and 1999-2000       0    0     0        0       0       0     0

IFPG  has entered into  employment  contracts with Mr. Rodriquez and Mr. Damion.
Pursuant  to the  contracts  each officer is entitled to gross salary of $10,000
per  month,  family  medical  insurance,  six  weeks  vacation per year and life
insurance  in  the  face  amount  of  $1,000,000.

                                       18

<PAGE>

ITEM  11.  SECURITY  OWNERSHIP  OF  CERTAIN  BENEFICIAL  OWNERS  AND  MANAGEMENT

The  following  table  provides  the beneficial ownership of our common stock by
each  person  known  by  us to beneficially own more than 5% of our common stock
outstanding as of November 15, 2002 and by the officers and directors of IFPG as
a  group.  Except  as  otherwise  indicated,  all  shares  are  owned  directly.


                                      Common                Percent of
Name  and  Address                    Shares                Class  (1)
Richard  Damion  (2)                  3,353,399             14.76%
180 Newport Center Drive, Suite 180
Newport Beach,  CA  92660

Joseph  R.  Rodriguez,  Jr.  (3)      5,157,228             22.70%
180 Newport Center Drive, Suite 180
Newport  Beach,  CA  92660


David  H.  Euzarraga                  1,488,278              6.91%
No.  2  Robin  Hill  Lane
Laguna  Hills,  CA  92653

All  Executive  officers  and
Directors as a Group (two) (4)        8,510,627             35.57%

 (1)     All percentages  are  calculated  by  giving  effect to  the  potential
         exercise of options held by the applicable person, entity or group, but
         without giving effect to the potential  exercise of options held by any
         other  person,  entity  or  group.

(2)      Of the 3,535,399 common shares held by Mr. Damion, 2,153,399 shares are
         owned outright.  The remaining 1,200,000 shares are shares which can be
         acquired  by Mr.  Damion  through the  exercise of options.  The option
         price  on  1,200,000  of  the  shares  is  $.25  per  share.

(3)      Of the 5,157,228 common shares held by Mr. Rodriguez,  3,957,228 shares
         are owned outright. The remaining 1,200,000 shares are shares which can
         be  acquired by Mr.  Rodriguez  through  the  exercise of options.  The
         option  price  on  1,200,000  of  the  shares  is  $.25  per  share.

(4)      The  8,510,627  common shares  represented  are the aggregate of shares
         held  by  Messrs.  Damion  and  Rodriguez.  See  footnotes  (2)  and
         (3)  above  for  the  explanation  of  the  beneficial  ownership  of

                                       20

<PAGE>

         the  shares.

ITEM  12.  CERTAIN  RELATIONSHIPS  AND  RELATED  TRANSACTIONS

There  have  been  no  transactions  by  the company within last two years where
either  the  company  as an issuer, or a director, officer or shareholder of the
company,  had  an  indirect  or  direct  interest  except  as  follows:

-    Receipt  of  cash  and  stock compensation by the officers and directors of
     IFPG  as  set  forth  in  the  executive  compensation  table;  and

-    The receipt of 39,394 shares of common stock by Joseph R. Rodriguez, Jr. on
     June  28,  2002,  for  cancellation  of  a  debt  in the amount of $13,000.

                                       20

<PAGE>

                                     PART IV

ITEM  13.  EXHIBITS  AND  REPORTS  ON  FORM  8-K

(a)  Reports  on  Form  8-K

     None.


(b)  Exhibits

   3.1     Articles  of  Incorporation  (1)
   3.2     By-laws  (1)
   99.1    Certification  of  Chief  Executive  Officer  and  Chief Financial
           Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to
           Section  906  of the  Sarbanes-Oxley  Act  of  2002

(1)     Previously  filed  as  an  exhibit  to  the  Form SB-2 on July 18, 2000.

                                       21

<PAGE>


                                   SIGNATURES

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

International  Food  Products  Group,  Inc.,  a  Nevada  Corporation

                 By:     /s/ Joseph  R.  Rodriguez,  Jr.
                        ----------------------------------------
                        Joseph R. Rodriguez, Jr., President
                        Date:  November  15,  2002


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


/s/ Joseph  R.  Rodriguez,  Jr.
-----------------------------------------
Joseph  R.  Rodriguez,  Jr.,              Date:     November  15,  2002
Principal  Financial  Officer,
Principal  Accounting  Officer,
and  Director


/s/ Richard  Damion
-----------------------------------------
Richard  Damion,                          Date:     November  15,  2002
Principal  Executive  Officer
and  Director

                                       22

<PAGE>


                                 CERTIFICATIONS

We,  Richard  Damion,  Director  and  Principal Executive Officer, and Joseph R.
Rodriguez,  Jr.,  Director  and  Principal  Financial  Officer  certify  that;

A    We  have  reviewed  this  annual report on Form10-KSB of International Food
     Products  Group,  Inc.;

B    Based  on  our  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;

C    Based  on  our  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;



Date:   November  15,  2002

/s/ Richard  Damion
___________________________________
(Signature)  Richard  Damion
Principal  Executive  Officer
Director

/s/ Joseph R. Rodriguez, Jr.
___________________________________
(Signature)  Joseph  R.  Rodriguez,  Jr.
Principal  Financial  Officer
Director


                                       23