SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-KSB
                ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934
(Mark  One)
[  X  ]     Annual  report  pursuant  to  section  13 or 15(d) of the Securities
Exchange  Act  of  1934
     For  the  fiscal  year  ended  December  31,  2002

[   ]     Transition report under section 13 or 15(d) of the Securities Exchange
Act  of  1934
     For  the  transition  period  from  ______________  to  ______________

                        Commission File Number 000-32735

                       FREEDOM RESOURCES ENTERPRISES, INC.
                 (Name of small business issuer in its charter)

                    NEVADA                            87-0567033
     (State or other jurisdiction of        (IRS Employer Identification No.)
      incorporation or organization)


                     901 EAST 7800 SOUTH, MIDVALE, UT 84047
                     (Address of principal executive offices)

Issuer's  telephone  number,  including  area  code  (801)  566-5931

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

Securities  registered  under  Section  12(g)  of  the  Exchange  Act:  None

                         COMMON STOCK, PAR VALUE $0.001
                                 (Title of class)

Check  whether  the Issuer (1) 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 report(s), and (2) has been
subject  to such filing requirements for the past 90 days.  Yes [ X ]   No [   ]

Check  if there is no disclosure of delinquent filers in response to Item 405 of
Regulation  S-B  is contained in this form, and no disclosure will be contained,
to  the  best  of the registrant's knowledge, in definitive proxy or information
statements  incorporated  by  reference  in  Part III of this form 10-KSB or any
amendment  to  this  Form  10-KSB.  [    ]

The  issuer's  revenue  for  its  most  recent  fiscal  year  was:  $-0-.

The  aggregate market value of the issuer's voting stock held as of December 31,
2002,  by  non-affiliates  of  the issuer was $-0-.  There was no active trading
market and no quote Freedom Resources Enterprises, Inc. during fiscal year 2002,
therefore  the  value  is  deemed  to  be  $-0-.

As  of  December  31,  2002 the issuer had 375,000 shares of its $.001 par value
common  stock  outstanding.

Transitional  Small  Business  Format:  Yes  [   ]   No  [  X  ]
Documents  incorporated  by  reference:  none


<PAGE>

<TABLE>
<CAPTION>

                               FREEDOM RESOURCES ENTERPRISES, INC.

                                              INDEX

                                                                                             Page
<S>       <C>                                                                                <C>
PART I .  Item 1.  Description of Business                                                      3

          Item 2.  Description of Property                                                      6

          Item 3.  Legal Proceedings                                                            6

          Item 4.  Submission of Matters to a Vote of Security Holders                          6

PART II.  Item 5.  Market for Common Equity and Related Stockholder Matters                     6

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

          Item 7.  Financial Statements                                                         7

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

PART III  Item 9.  Directors, Executive Officers, Promoters and Control Persons; Compliance
          with Section 16(a) of the Exchange Act                                                8

          Item 10.  Executive Compensation                                                      8

          Item 11.  Security Ownership of Certain Beneficial Owners and Management              9

          Item 12.  Certain Relationships and Related Transactions                              9

          Item 13.  Exhibits and Reports on Form 8-K                                           10

          Item 14.  Controls and Procedures                                                    10

          Signatures                                                                           11

          Certification                                                                        12
</TABLE>

(Inapplicable  items  have  been  omitted)


                                        2
<PAGE>

                                     PART I

FORWARD-LOOKING  STATEMENT  NOTICE

This  Form 10-KSB contains certain forward-looking statements within the meaning
of  the  Private  Securities Litigation Reform Act of 1995. For this purpose any
statements  contained  in this Form 10-KSB that are not statements of historical
fact  may  be  deemed  to  be  forward-looking  statements. Without limiting the
foregoing,  words  such  as  "may,"  "will,"  "expect," "believe," "anticipate,"
"estimate"  or  "continue"  or  comparable  terminology are intended to identify
forward-looking statements. These statements by their nature involve substantial
risks and uncertainties, and actual results may differ materially depending on a
variety  of  factors,  many  of  which are not within our control. These factors
include  but  are  not  limited  to  economic  conditions  generally  and in the
industries  in which we may participate; competition within our chosen industry,
including  competition  from much larger competitors; technological advances and
failure  to  successfully  develop  business  relationships.

ITEM  1.  DESCRIPTION  OF  BUSINESS.

Freedom  Resources  Enterprises, Inc. was incorporated in the state of Nevada on
November  6,  1996  to research and publish a self-improvement book based on the
insights  and understandings of major world cultures.  The working title for the
proposed  book  was  Personal  Freedom and Prosperity.  We did not published the
book, but are using materials gathered during our research to develop and sell a
series  of  eight self-help workshops.  Each self-taught workshop consists of an
audiotape  and a workbook presenting techniques in critical thinking, self-image
psychology,  and  self-motivation.  These  workshops  are  sold  online  under a
marketing  agreement  with  Life Discovery Institute, a company that maintains a
website  dedicated  to  self-improvement  and  education.

We  are  dedicated  to the discovery and implementation of critical insights and
understandings  that  are  intended to give people a clearer view of themselves,
others,  and the world in which they live.  Our research indicates that cultures
either  prosper  or  decline  as  a  result of the fundamental views held by its
citizenry.  We  believe these fundamental views are the product of contributions
from  many  disciplines.  While  some of these contributions help produce honest
and  clear  thinking,  other  contributions  produce  dishonesty  and confusion,
leading  to  an  eventual  social  decline.

Our  primary  purpose  is  to help people improve the quality of their lives and
contribute  to  society  in general.  We believe that clear and thoughtful views
are  essential  for  a  society to thrive and our workshops are intended to help
people  develop  techniques  that facilitate clear and honest thinking.  We hope
that  our  workshops  will  help  people  achieve  greater  personal freedom and
prosperity,  thereby  contributing  to  society.

OUR  PRODUCTS

Our  research  has  been condensed into a series of eight self-taught workshops.
Each  workshop consists of an audiotape and a workbook directed toward improving
a  particular  facet  of  an  individual's  quality  of life or interaction with
others.

     The  eight  workshops  are  titled:

     -    Provisional  vs.  Providential  Living:  This  workshop introduces our
          research  and  explains  our  philosophy.


                                        3
<PAGE>

     -    The  Reality-Based  Dream:  This  workshop  attempts to help people to
          distinguish between internal conflicts and external forces in business
          dealings  and  personal  relationships.

     -    Real  and  Assumed  Needs:  This  workshop is directed towards helping
          people  identify  and  prioritize  their  needs  and  desires.

     -    Real  Choice:  This workshop is intended to help people make decisions
          that  will  have  a  positive  impact  on their lives and the lives of
          others.

     -    Circumstances--  Friend or Foe: This workshop examines how people deal
          with  conflict  and  suggests  strategies  to achieve positive results
          under  negative  circumstances.

     -    Destiny  vs.  Fate: This workshop provides strategies intended to help
          people  exercise  greater  control  over  their  lives.

     -    Meaning  and  The  Dream:  This  workshop  is  intended to help people
          identify  what  is  truly  important  in  their  lives  and  suggests
          strategies  for  achieving  personal  goals.

     -    Never  Ending  Journey:  This  is  the  final  workshop in the series,
          summarizing  our  research  and  self-improvement  strategies.

OUR  CONTRACT  WITH  LIFE  DISCOVERY  INSTITUTE

From  August  1999  though  October  of  2000,  Freedom  Resources  invested
approximately $15,674 toward developing a website for marketing our products via
the  Internet.  Ultimately, we did not launch the website.  Instead, we assigned
our  interest  in  the  website  to  Life  Discovery Institute, an education and
publishing  organization  operated  by  our  President,  Neil Christiansen.  Our
agreement  began  on  May  31,  2001  and  runs through May 31, 2006.  Under the
agreement,  we  assigned  all  of  our interest and investment in developing the
website  to LDI who completed development and launched the website.  In exchange
for  our  prior investment in the website, LDI allows us to market our workshops
at  no  charge  through the LDI website at www.ldi4u.com.  This is currently the
                                           -------------
only  source  of  distribution  for  our  workshops.  We  may  eventually  seek
additional  sources  of  marketing,  however,  we  have  no  agreements  or
understandings  to  that  effect  at  the  present  time.

Customers  may access and purchase our products by visiting the LDI homepage and
clicking  on either Organizations or Authors.  Each of these headings leads to a
drop-down  menu  with links to Freedom Resources' products with descriptions and
prices  of  the  individual  workshops.  Customers may either download workshops
directly  from  the  website  or  have  the  materials mailed. Our workshops are
currently  priced  at  $49.00 for the general public and $39.00 for LDI members.
LDI  sells  memberships  for  $39.00  per  year.  We  do  not receive any of the
proceeds  from  the  sale  of  LDI  memberships.

THE  INTERNET  AND  OUR  TARGET  MARKETS

We intend to use the Internet as our primary source of distribution.  We believe
that  providing  our products through the Internet will allow us to minimize the
expenses associated with traditional offline personal and professional programs.
For  example,  we  will  not  have many of the overhead expenses associated with
on-site  retail  operations  such  as  rental,  utility  fees  and  labor costs.

We  also  believe  that  the  Internet  will  continue  to  grow  as a medium of
communication  and  commerce.  Each  year  more  and  more  people are using the


                                        4
<PAGE>

Internet  to  access  information  and  to  purchase  products.  According  to
Nielsen//Netratings, 168.6 million people in the United States had access to the
Internet  during  the fourth quarter of 2002 representing 29% of the 580 million
global  Internet  users.  The  most  recent  economic census reported that total
E-commerce  revenues reached $29 billion in 2000. We believe this data indicates
that the Internet could become a viable source of distribution for our products.
We hope to capitalize on this growing acceptance of the Internet by establishing
an  online  presence  to  market  our  self-improvement  materials.  The  above
statistics  are  publicly  available free of charge or for a nominal charge, and
were  not commissioned by the Company. The Commerce Department's 2000 E-Commerce
Multi-sector  Report  is  available  at
http://www.census.gov/eos/www/ebusiness614.htm. Global Internet usage statistics
are  available  at  http://www.nielsen-netratings.com/pr/pr_030220.pdf.

Our  business  targets  the  self-improvement  market.  We  believe  that  Life
Discovery  Institute  and  similar  websites  provide  an online destination for
people  seeking guidance in their personal and professional lives.  Accordingly,
we  believe  our  success  will  be dependent on targeting both the business and
personal  markets.  We  believe  that  these  markets  are  looking  for:

     a  resource  to  help  them make positive changes in the key areas of their
     lives;

     access  to  advice;

     interaction  with  other  people  seeking  to  make  similar  changes;  and

     products  and  services  that  will  support  these  efforts.

We  intend  to  continue  developing  and  marketing  products  directed  toward
achieving  these  goals.  We  are  also  considering other strategies to promote
Freedom  Resources' products.  Possible strategies include direct advertising to
the  business  community  through  targeted  publications,  radio  stations  and
cross-promotional  arrangements.  We  also  plan  to  leverage  other  audience
building  strategies  through  the  LDI  website.

COMPETITION

Our  biggest challenge in the coming months will be establishing our identity in
the  E-commerce  arena.  There are hundreds if not thousands of self-improvement
and  health  care related websites.  Many of our competitors utilize much of the
same philosophy for self-improvement and motivation, and use the same or similar
media  for marketing their products and services.  Leading websites dedicated to
self-improvement  include  selfimprovementonline.com  and SelfGrowth.com.  These
websites  typically  provide  online articles and workshops, as well as ordering
platforms for motivational books, video and audio tapes.  Many of these websites
also  provide  online  registration  for  motivational seminars and conferences.

We  also  face  competition  from  large,  well-established  companies providing
motivational seminars and product sales.  We believe that leading competitors in
the  area of motivational speaking and product sales include Tony Robbins, Wayne
Dyer,  Zig  Zigler  and  Deepak  Chopra.   These  competitors  have considerably
greater financial, marketing, sales and technical resources than those available
to  us.

EMPLOYEES

We do not currently have any employees but rely on the efforts of our president,
Mr. Neil Christiansen to conduct our business.  Mr. Christiansen has not devoted
any significant time towards the Company in the past but intends to devote up to
20 hours per week as we implement our marketing plan.  We have also occasionally
contracted for outside consulting work in developing our products.  At such time
as  our  growth  requires,  we  will  consider  adding  part-time  or  full-time
employees,  however,  we  do not contemplate hiring employees in the foreseeable
future.


                                        5
<PAGE>

ITEM  2.  DESCRIPTION  OF  PROPERTY

We  do  not  currently own or lease any property.  Mr. Christiansen allows us to
use  his  office  at  901 East 7800 South in Midvale, Utah on a rent-free basis.
Our  current operations do not require independent facilities and we expect this
arrangement  to  continue  until  our activities expand to a point necessitating
relocation.

ITEM  3.  LEGAL  PROCEEDINGS

Management  is  not  aware of any current or pending legal proceedings involving
Freedom  Resources,  our  officers  or  directors.

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

No  matters  were  submitted  to  a  vote  of security holders during the period
covered  by  this  report.


                                     PART II

ITEM  5.  MARKET  FOR  COMMON  EQUITY  AND  RELATED  STOCKHOLDER  MATTERS

There  currently  is  no active trading for Freedom Resources' Common Stock on a
recognized  exchange.

At  December  31, 2002, the number of record holders of our Common Stock was 22.
Total shares issued and outstanding were 375,000.  Such number of record holders
was  determined  from  our  shareholders'  list, and does not include beneficial
owners  whose  shares  are held in nominee accounts with brokers, dealers, banks
and  clearing  agents.

We  have  not  paid  any  dividends upon our Common Stock and do not contemplate
paying any dividends in the foreseeable future.  Our ability to pay dividends is
subject to limitations imposed by Nevada law. Under Nevada law, dividends may be
paid  to the extent that a corporation's assets exceed its liabilities and it is
able  to  pay  its  debts  as  they  become due in the usual course of business.

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

RESULTS  OF OPERATIONS FOR THE PERIODS ENDING DECEMBER 31, 2002 AND DECEMBER 31,
2001

We  have  not  generated any revenue to date.  Net loss was $13,921 for the year
ended  December  31,  2002  and  $15,669  for  the year ended December 31, 2001.
Cumulative  net  loss  since  inception on November 6, 1996 through December 31,
2002  was  $79,442.

Expenses  during  the  year  ended  December  31,  2002  were $13,922.  Expenses
consisted  of $347 in depreciation and amortization costs and $13,575 in general
and  administrative  costs.  Expenses  for the year ended December 31, 2001 were
$15,670  consisting  of  $15,322 in general and administrative costs and $348 in
depreciation  and  amortization.  General  and  administrative costs during both
2002  and 2001 were almost exclusively due to professional, legal and accounting
fees  associated  with  our  public  filings  and  with preparing a Registration
Statement  on  Form  10-SB.  At the date of this report, the Registration is not
effective.


                                        6
<PAGE>

We  earned  $1 in interest income for the year ended December 31, 2001 and $1 in
interest  income  for  the  year  ended  December  31,  2002.

As  of  December  31,  2002,  we  had total assets of $683 consisting of $611 in
property and equipment and $72 in cash.  At December 31, 2001 assets were $1,061
consisting  of  $103  in cash and $958 in property and equipment.  Total current
liabilities  at December 31, 2002 were $32,625 consisting of $31,954 in accounts
payable,  $120  in  advances  and  $551  in accrued taxes.  At December 31, 2001
current  liabilities  were $19,082 consisting of $18,962 in accounts payable and
$120  in  an  advance  from  a  shareholder.

LIQUIDITY  AND  CAPITAL  RESOURCES

At  December 31, 2002 we had $72 in cash and had not generated any revenues.  We
expect  that  we  will  eventually  generate  revenues  through  the sale of our
workshops  on  the LDI website, however, we cannot assure this.  If LDI does not
succeed  in  selling  our  workshops we may seek alternate marketing channels of
distribution.  We  are  not  seeking other marketing sources at the present time
and we do not have a contingency plan if our agreement with LDI is unprofitable.

We anticipate that our expenses will increase over the next twelve months due to
ongoing accounting and legal fees relating to our status as a reporting company.
We  estimate  that  resulting  general  and administrative expenses for the next
twelve  months  will  be approximately $10,000 to $15,000.  We also have current
liabilities  of  $32,635.  As  a  result,  we  will  need to raise approximately
$40,000  to pay our debts and meet our ongoing financial needs.  Since inception
we  have primarily financed our operations through the sale of common stock.  In
order  to  raise  the  necessary  capital  to  continue  operations, we may sell
additional  stock,  arrange debt financing or seek advances from our officers or
shareholders.  We  do  not  have  any  commitments  for  financing.

PLAN  OF  OPERATION

We  expect  to  encounter  significant difficulties in effectuating our business
plan.  As  of  December 31, 2002, we have not generated any revenue and have not
made  any  sales  either  directly  or  through the LDI website.  Because of our
history of losses, lack of profitable operations and working capital deficit our
auditors  have  expressed  substantial  doubt about our ability to continue as a
going  concern.

Although  online  spending has increased substantially over the past five years,
we  have  not  benefited  from  this  trend.  To date, we have not generated any
revenue  from  the  sale  of  our  products and establishing our presence in the
Internet  marketplace  continues  to  be  an  obstacle.  We  hope  to eventually
generate  revenue  as  we  implement  our  business  plan.  However,  we  cannot
guarantee  that  the  LDI  website will emerge as a viable marketing platform or
that  we  will  be  successful  in  our efforts to establish a profitable online
presence.

During  the  next  twelve  months  we  anticipate  that  our  president,  Neil
Christiansen,  will  be  actively  working  with LDI to promote our products and
attract  customers to the website.  Very little work in this area has heretofore
been  done.  Possible strategies include working with search engine submissions,
news  group  postings and cross-promotions with affinity sites to properly index
materials.

ITEM  7.  FINANCIAL  STATEMENTS

The  response  to  this  item  is  incorporated  by  reference  to the financial
statements  beginning  at  page  13.


                                        7
<PAGE>

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

None

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

The  following  table sets forth the name, age, position and office term of each
executive  officer  and  director  of  the  Company.

<TABLE>
<CAPTION>

NAME               AGE         POSITION             SINCE
-----------------
<S>                <C>  <C>                     <C>

Neil Christiansen   67  President and Director  November, 1996

Margie Aliprandi.   45  Secretary and Director  November, 1996

Charisse Orton. .   36  Treasurer and Director  November 1996
</TABLE>

All  officers  hold  their positions at the will of the Board of Directors.  All
directors  hold  their  positions  for  one  year  or until their successors are
elected  and  qualified.  Set  forth  below  is certain biographical information
regarding  each  of  our  executive  officers  and  directors:

NEIL  CHRISTIANSEN,  PRESIDENT  AND DIRECTOR.  Following his college graduation,
Mr.  Christiansen  worked  in secondary education as a teacher and administrator
until  entering  the business world in 1965, when he founded Heartland Realty in
Salt  Lake  City,  Utah.  From  1976  to 1982, he served as the Republican State
Chairman  for  Utah.  In  1983,  he  became  the founding director of Search for
Common  Ground, a Washington DC based organization established to engage leaders
in  the  Soviet  and U.S. governments and business in meaningful dialogue.  From
1984  to  1986,  he  coordinated  the  international  acquisition, shipment, and
distribution of multiple speed cassette copiers into various parts of the Soviet
Union  for  The  Door of Hope.  In 1986, Mr. Christiansen founded Free Indeed, a
foundation dedicated to developing personal growth programs.  Since 1998, he has
been self-employed, devoting his time to research, publishing curricula, leading
seminars  and  directing  self-improvement  workshops  and  conferences.

MARGIE  ALIPRANDI, SECRETARY AND DIRECTOR.  Ms. Aliprandi has been a distributor
for  New  Way,  Inc.,  a  multi-level  marketing  company  since  1980.

CHARISSE  ORTON,  TREASURER AND DIRECTOR.  Since 1989, Ms. Orton has been a Home
Economics  teacher  at  Murray High School in Salt Lake City, Utah.  She is also
the managing partner of C.I.C., a real estate investment company located in Salt
Lake  City,  Utah  since  1998.

OTHER  REPORTING  COMPANY  ACTIVITIES

None.

ITEM  10.  EXECUTIVE  COMPENSATION

We  have  no arrangements for the remuneration of officers and directors, except
that  they  will  be  entitled to receive reimbursement for actual, demonstrable
out-of-pocket expenses, including travel expenses, if any, made on our behalf in
the  investigation  of business opportunities.  No remuneration has been paid to
our  officers  or  directors.  There  are  no  agreements or understandings with


                                        8
<PAGE>

respect  to the amount or remuneration those officers and directors are expected
to  receive  in  the future.  Management takes no salaries from us and we do not
anticipate  paying  any salaries in the foreseeable future.  At the date of this
report,  no  stock  options  have  been  issued  to  our  directors.

ITEM  11.  SECURITY  OWNERSHIP  OF  CERTAIN  BENEFICIAL  OWNERS  AND  MANAGEMENT

The  following table sets forth as of December 31, 2002, the name and the number
of  shares  of  our  Common  Stock, par value $.001 per share, held of record or
beneficially  by  each  person  who  held  of  record, or was known by us to own
beneficially,  more  than 5% of the 375,000 issued and outstanding shares of the
our  Common  Stock,  and  the name and shareholdings of each director and of all
officers  and  directors  as  a  group.

<TABLE>
<CAPTION>

NAME AND ADDRESS                      NUMBER OF SHARES   % OF SHARES
                                     BENEFICIALLY OWNED
<S>                                  <C>                 <C>

Neil Christiansen (1) . . . . . . .             230,000        61.33%
901 East 7800 South
Midvale, UT  84047

Serenity Services, Inc. . . . . . .              18,750          5.0%
545 West 150 South
Springville, UT 84663

Growth Ventures Inc. Pension. . . .              18,750          5.0%
Plan and Trust
14 Red Tail Drive
Highlands Ranch, CO 80126

Margie Aliprandi (1). . . . . . . .              10,625          2.8%
6466 Crest Mount Drive
Salt Lake City, UT 84121

Charisse Orton (1). . . . . . . . .              10,625          2.8%
10149 Silver Streak Drive
Sandy, UT 84095

Officers and Directors as a Group:.             251,250         67.0%
3 People

(1) Officer and/or director.
</TABLE>

There  are  no  contracts or other arrangements that could result in a change of
control  of  Freedom  Resources.

ITEM  12.  CERTAIN  RELATIONSHIPS  AND  RELATED  TRANSACTIONS

Ms. Aliprandi and Ms. Orton are both officers and directors of Freedom Resources
and  are  both  daughters  of  Mr.  Christiansen,  the president and director of
Freedom  Resources.


                                        9
<PAGE>

We  utilize  office  space  provided  at  no  charge  by  our  president,  Neil
Christiansen.  Management  believes  the  use of Mr. Christiansen's office is of
negligible  value  as  our  current  operations  do  not  require  any  staff or
independent  facilities.

Mr.  Christiansen  has  advanced  $120 to the Company.  At December 31, 2002 the
advance  had not been repaid.  The advance carries no interest and is payable on
demand.

We  have  a  marketing  agreement  with  the  Life  Discovery Institute and have
contributed  approximately  $15,674  to developing their website in exchange for
free  use  of  the website to market our products. Mr. Christiansen is a founder
and  director  of  the  Life  Discovery  Institute.

ITEM  13.  EXHIBITS  AND  REPORTS  ON  FORM  8-K

<TABLE>
<CAPTION>

EXHIBIT NUMBER  TITLE                                                        LOCATION
<C>             <S>                                                          <C>

          99.1  Certification of CEO and CFO pursuant to Section 906 of the  Attached
                 Sarbanes-Oxley Act of 2002

          99.2  Code of Business Ethics and Corporate Conduct . . . . . . .  Attached
</TABLE>

REPORTS  ON  FORM  8-K:

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

ITEM  14.  CONTROLS  AND  PROCEDURES

Within  the  90-day  period  prior  to the date of this report, we evaluated the
effectiveness  and  operation of our disclosure controls and procedures pursuant
to  Rule  13a-14  of  the  Securities  Exchange  Act  of  1934.  Based  on  that
evaluation,  our  Chief  Executive  Officer  and  Chief  Financial  Officer have
concluded that our disclosure controls and procedures are effective.  There have
been  no  significant  changes  in internal controls or other factors that could
significantly affect internal controls subsequent to the date we carried out our
evaluation.  We  have  recently adopted a Code of Ethics and Business Conduct to
help  ensure the effectiveness of our disclosure controls and procedures, and to
demonstrate  our  commitment to operating ethically.  The Code is attached as an
exhibit  to  this  report.


                                       10
<PAGE>

                                   SIGNATURES

In  accordance  with  the  Exchange Act, the registrant caused this report to be
signed  on  its  behalf  by  the  undersigned  thereunto  duly  authorized.

                                FREEDOM  RESOURCES  ENTERPRISES,  INC.


Date:  March  27,  2003         /s/Neil  Christiansen
                                ------------------------------
                                Neil  Christiansen
                                CEO and Chief Financial Officer




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





Date:  March  27,  2003                         /s/Neil  Christiansen
                                                -----------------------
                                                Neil  Christiansen
                                                Director


Date:  March  27,  2003                         /s/Margie  Aliprandi
                                                ----------------------
                                                Margie  Aliprandi
                                                Director


Date:  March  27,  2003                         /s/Charisse  Orton
                                                --------------------
                                                Charisse  Orton
                                                Director


                                       11
<PAGE>

     CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Neil Christiansen, the Chief Executive Officer and Chief Financial Officer of
Freedom  Resources  Enterprises,  Inc.  (the  "Company"),  certify  that:

1.  I  have  reviewed  this  annual  report  on  Form  10-KSB  of  the  Company;

2.  Based  on  my  knowledge,  this  annual  report  does not contain any untrue
statement  of a material fact or omit to state a material fact necessary to make
the  statements  made, in light of the circumstances under which such statements
were  made,  not  misleading  with  respect to the period covered by this annual
report;

3.  Based  on  my  knowledge,  the  financial  statements,  and  other financial
information  included  in  this  annual  report,  fairly present in all material
respects  the  financial  condition, results of operations and cash flows of the
registrant  as  of,  and  for,  the  periods  presented  in  this annual report;

4.  I  am  responsible  for establishing and maintaining disclosure controls and
procedures  (as  defined  in  Exchange  Act  Rules  13a-14  and  15d-14) for the
registrant  and  I  have:

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

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

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

5.  I  have  disclosed,  based on my most recent evaluation, to the registrant's
auditors  and the audit committee of registrant's board of directors (or persons
performing  the  equivalent  function):

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

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

6.  I have indicated in this annual report whether or not there were significant
changes in internal controls or in other factors that could significantly affect
internal  controls  subsequent  to  the  date  of  our  most  recent evaluation,
including  any  corrective  actions  with regard to significant deficiencies and
material  weaknesses.


March  27,  2003                   /s/Neil  Christiansen
                                   -------------------------
                                   Neil  Christiansen
                                   Chief  Executive  Officer
                                   Chief  Financial  Officer


                                       12
<PAGE>

<TABLE>
<CAPTION>

                      FREEDOM RESOURCES ENTERPRISES, INC.
                          [A Development Stage Company]


                                    CONTENTS


                                                            PAGE
                                                           ------
<S>                                                         <C>
  -    Independent Auditors' Report. . . . . . . . . . .     14


  -    Balance Sheet, December 31, 2002. . . . . . . . .     15


  -    Statements of Operations, for the years ended
         December 31, 2002 and 2001 and from inception
         on November 6, 1996 through December 31, 2002 .     16


  -    Statement of Stockholders' Equity (Deficit), from
       inception on November 6, 1996 through
       December 31, 2002 . . . . . . . . . . . . . . . .     17


  -    Statements of Cash Flows, for the years ended
         December 31, 2002 and 2001 and from inception
         on November 6, 1996 through December 31, 2002 .     18


  -    Notes to Financial Statements . . . . . . . . . .  19-24
</TABLE>


                                       13
<PAGE>

                          INDEPENDENT AUDITORS' REPORT



Board  of  Directors
FREEDOM  RESOURCES  ENTERPRISES,  INC.
Salt  Lake  City,  Utah

We have audited the accompanying balance sheet of Freedom Resources Enterprises,
Inc.  [a  development  stage  company]  as  of December 31, 2002 and the related
statements  of operations, stockholders' equity (deficit) and cash flows for the
years  ended  December  31,  2002  and 2001 and for the period from inception on
November  6, 1996 through December 31, 2002.  These financial statements are the
responsibility of the Company's management.  Our responsibility is to express an
opinion  on  these  financial  statements  based  on  our  audit.

We  conducted our audit in accordance with generally accepted auditing standards
in  the  United  States  of  America.  Those  standards require that we plan and
perform  the  audit  to  obtain reasonable assurance about whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test  basis,  evidence  supporting  the amounts and disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made  by  management,  as well as evaluating the overall
financial  statement  presentation.  We  believe  that  our  audit  provides  a
reasonable  basis  for  our  opinion.

In  our  opinion,  the financial statements audited by us present fairly, in all
material respects, the financial position of Freedom Resources Enterprises, Inc.
as of December 31, 2002 and the results of its operations and its cash flows for
the  years ended December 31, 2002 and 2001 and for the period from inception on
November  6,  1996  through  December  31,  2002,  in  conformity with generally
accepted  accounting  principles  in  the  United  States  of  America.

The  accompanying  financial  statements have been prepared assuming the Company
will  continue  as  a  going  concern.  As  discussed in Note 6 to the financial
statements,  the Company has incurred losses since its inception and has not yet
been successful in establishing profitable operations.  Further, the Company has
current  liabilities  in  excess  of  current  assets.  These  factors  raise
substantial  doubt  about  the  ability  of  the  Company to continue as a going
concern.  Management's  plans  in regards to these matters are also described in
Note  6.  The  financial  statements  do  not include any adjustments that might
result  from  the  outcome  of  these  uncertainties.



PRITCHETT,  SILER  &  HARDY,  P.C.
-----------------------------------

February  3,  2003
Salt  Lake  City,  Utah


                                       14
<PAGE>

<TABLE>
<CAPTION>


              FREEDOM RESOURCES ENTERPRISES, INC.
                 [A Development Stage Company]

                        BALANCE SHEET


                           ASSETS


                                                 December 31,
                                                     2002
                                                --------------
<S>                                             <C>
CURRENT ASSETS:
  Cash . . . . . . . . . . . . . . . . . . . .  $          72
                                                --------------
    Total Current Assets . . . . . . . . . . .             72

PROPERTY AND EQUIPMENT, net. . . . . . . . . .            611
                                                --------------
                                                $         683
                                                ==============


LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)


CURRENT LIABILITIES:
  Accounts payable . . . . . . . . . . . . . .  $      31,954
  Advance from a shareholder . . . . . . . . .            120
  Accrued taxes. . . . . . . . . . . . . . . .            551
                                                --------------
      Total Current Liabilities. . . . . . . .         32,625
                                                --------------

STOCKHOLDERS' EQUITY (DEFICIT):
  Preferred stock, $.001 par value,
    5,000,000 shares authorized,
    no shares issued and outstanding . . . . .              -
  Common stock, $.001 par value,
    50,000,000 shares authorized,
    375,000 shares issued and
    outstanding. . . . . . . . . . . . . . . .            375
  Capital in excess of par value . . . . . . .         47,125
  Deficit accumulated during the
    development stage. . . . . . . . . . . . .        (79,442)
                                                --------------
    Total Stockholders' Equity (Deficit) . . .        (31,942)
                                                --------------
                                                $         683
                                                ==============
</TABLE>


    The accompanying notes are an integral part of this financial statement.


                                       15
<PAGE>

<TABLE>
<CAPTION>

                      FREEDOM  RESOURCES  ENTERPRISES,  INC.
                          [A Development Stage Company]

                            STATEMENTS OF OPERATIONS

                                                                    From Inception
                                          For  the  Years           on November 6,
                                         Ended  December  31,       1996 Through
                                   -------------------------------  December  31,
                                        2002            2001            2002
                                   --------------  ---------------  --------------
<S>                                <C>             <C>              <C>
REVENUE . . . . . . . . . . . . .  $           -   $            -   $      -
                                   --------------  ---------------  --------------

EXPENSES:
  Depreciation and amortization .            347              348      3,563
  General and administrative. . .         13,575           15,322     39,915
  Research and development. . . .              -                -     15,674
  Impairment of long-lived assets              -                -     21,285
                                   --------------  ---------------  --------------
    Total expenses. . . . . . . .         13,922           15,670     80,437
                                   --------------  ---------------  --------------
LOSS FROM OPERATIONS. . . . . . .        (13,922)         (15,670)   (80,437)

OTHER INCOME:
  Interest Income . . . . . . . .              1                1      1,216
                                   --------------  ---------------  --------------

LOSS BEFORE INCOME TAXES. . . . .        (13,921)         (15,669)   (79,221)

CURRENT TAX EXPENSE . . . . . . .              -                -          -

DEFERRED TAX EXPENSE. . . . . . .              -                -          -
                                   --------------  ---------------  --------------

LOSS FROM CONTINUING
  OPERATIONS. . . . . . . . . . .        (13,921)         (15,669)   (79,221)

CUMULATIVE EFFECT OF CHANGE
  IN ACCOUNTING PRINCIPLE . . . .              -                -       (221)
                                   --------------  ---------------  --------------

NET LOSS. . . . . . . . . . . . .  $     (13,921)  $      (15,669)  $(79,442)
                                   ==============  ===============  ==============

LOSS PER COMMON SHARE:
  Continuing operations . . . . .  $        (.04)  $         (.04)  $   (.23)
  Change in accounting principle.              -                -       (.00)
                                   --------------  ---------------  --------------
  Loss per common share . . . . .  $        (.04)  $         (.04)  $   (.23)
                                   ==============  ===============  ==============
</TABLE>

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


                                       16
<PAGE>

<TABLE>
<CAPTION>

                                          FREEDOM  RESOURCES  ENTERPRISES,  INC.
                                               [A Development Stage Company]

                                        STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)

                                            FROM INCEPTION ON NOVEMBER 6, 1996

                                                 THROUGH DECEMBER 31, 2002

                                                                                                               Deficit
                                                                                                             Accumulated
                                              Preferred  Stock           Common  Stock       Capital  in     During  the
                                           -----------------------  -----------------------   Excess  of     Development
                                             Shares      Amount       Shares      Amount       Par Value        Stage
                                           ----------  -----------  ----------  -----------  -------------  --------------
<S>                                        <C>         <C>          <C>         <C>          <C>            <C>
BALANCE, November 6, 1996 . . . . . . . .           -  $         -           -  $         -  $           -  $           -

Issued 250,000 shares of common stock
  for cash of $2,500, or $.01 per share,
  November 1996 . . . . . . . . . . . . .           -            -     250,000          250          2,250              -

Net loss for the period ended
  December 31, 1996 . . . . . . . . . . .           -            -           -            -              -            (50)
                                           ----------  -----------  ----------  -----------  -------------  --------------
BALANCE, December 31, 1996. . . . . . . .           -            -     250,000          250          2,250            (50)

Issued 23,750 shares of common stock
  for cash of $9,500, or $.40 per share,
  August 1997 . . . . . . . . . . . . . .           -            -      23,750           24          9,476              -

Net loss for the year ended
  December 31, 1997 . . . . . . . . . . .           -            -           -            -              -         (1,661)
                                           ----------  -----------  ----------  -----------  -------------  --------------
BALANCE, December 31, 1997. . . . . . . .           -            -     273,750          274         11,726         (1,711)

Issued 101,250 shares of common stock
  for cash of $40,500, or $.40 per share,
  net of stock offering costs of $5,000,
  May and August 1998 . . . . . . . . . .           -            -     101,250          101         35,399              -

Net loss for the year ended
  December 31, 1998 . . . . . . . . . . .           -            -           -            -              -         (4,942)
                                           ----------  -----------  ----------  -----------  -------------  --------------
BALANCE, December 31, 1998. . . . . . . .           -            -     375,000          375         47,125         (6,653)

Net loss for the year ended
  December 31, 1999 . . . . . . . . . . .           -            -           -            -              -         (2,243)
                                           ----------  -----------  ----------  -----------  -------------  --------------
BALANCE, December 31, 1999. . . . . . . .           -            -     375,000          375         47,125         (8,896)

Net loss for the year ended
  December 31, 2000 . . . . . . . . . . .           -            -           -            -              -        (40,956)
                                           ----------  -----------  ----------  -----------  -------------  --------------
BALANCE, December 31, 2000. . . . . . . .           -            -     375,000          375         47,125        (49,852)

Net loss for the year ended
  December 31, 2001 . . . . . . . . . . .           -            -           -            -              -        (15,669)
                                           ----------  -----------  ----------  -----------  -------------  --------------
BALANCE, December 31, 2001. . . . . . . .           -            -     375,000          375         47,125        (65,521)

Net loss for the year ended
  December 31, 2002 . . . . . . . . . . .           -            -           -            -              -        (13,921)
                                           ----------  -----------  ----------  -----------  -------------  --------------
BALANCE, December 31, 2002. . . . . . . .           -  $         -     375,000  $       375  $      47,125  $     (79,442)
                                           ==========  ===========  ==========  ===========  =============  ==============
</TABLE>

    The accompanying notes are an integral part of this financial statement.


                                       17
<PAGE>

<TABLE>
<CAPTION>

                              FREEDOM  RESOURCES  ENTERPRISES,  INC.
                                  [A Development Stage Company]

                                    STATEMENTS OF CASH FLOWS

                                                                                       From Inception
                                                        For  the  Years  Ended         on November 6,
                                                              December  31,            1996  Through
                                                    ---------------------------------  December  31,
                                                         2002              2001           2002
                                                    ---------------  ----------------  --------------
<S>                                                 <C>              <C>               <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net loss . . . . . . . . . . . . . . . . . . . .  $      (13,921)  $       (15,669)  $(79,442)
  Adjustments to reconcile net loss to net cash
    used by operations:
    Amortization expense . . . . . . . . . . . . .               -                 -      2,432
    Depreciation expense . . . . . . . . . . . . .             347               348      1,131
    Loss on impairment of long-lived assets. . . .               -                 -     21,285
    Effect of change in accounting principal . . .               -                 -        221
    Changes in assets and liabilities:
    Increase in accounts payable . . . . . . . . .          12,992            15,216     31,954
    Increase in accrued taxes. . . . . . . . . . .             551                 -        551
                                                    ---------------  ----------------  --------------
        Net Cash (Used) by Operating Activities. .             (31)             (105)   (21,868)
                                                    ---------------  ----------------  --------------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Purchase of property and equipment . . . . . . .               -                 -     (1,742)
  Organization costs . . . . . . . . . . . . . . .               -                 -       (288)
  Cost of manuscripts. . . . . . . . . . . . . . .               -                 -    (23,650)
                                                    ---------------  ----------------  --------------
    Net Cash (Used) by Investing Activities. . . .               -                 -    (25,680)
                                                    ---------------  ----------------  --------------
CASH FLOWS FROM FINANCING ACTIVITIES:
  Proceeds from sale of common stock . . . . . . .               -                 -     52,500
  Stock offering costs . . . . . . . . . . . . . .               -                 -     (5,000)
  Advances from a shareholder. . . . . . . . . . .               -               120        120
                                                    ---------------  ----------------  --------------
        Net Cash Provided by Financing Activities.               -               120     47,620
                                                    ---------------  ----------------  --------------
NET INCREASE (DECREASE) IN CASH. . . . . . . . . .             (31)               15         72

CASH AT BEGINNING OF PERIOD. . . . . . . . . . . .             103                88          -
                                                    ---------------  ----------------  --------------
CASH AT END OF PERIOD. . . . . . . . . . . . . . .  $           72   $           103   $     72
                                                    ===============  ================  ==============

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
  Cash paid during the period for:
    Interest . . . . . . . . . . . . . . . . . . .  $            -   $             -   $      -
    Income taxes . . . . . . . . . . . . . . . . .  $            -   $             -   $      -
</TABLE>

SUPPLEMENTAL  DISCLOSURES  OF  NON-CASH  INVESTING  AND  FINANCING  ACTIVITIES:
     For  the  Year  Ended  December  31,  2002:
          None

     For  the  Year  Ended  December  31,  2001:
          None

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


                                       18
<PAGE>

                       FREEDOM RESOURCES ENTERPRISES, INC.
                          [A Development Stage Company]

                          NOTES TO FINANCIAL STATEMENTS

NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES

     ORGANIZATION  -  Freedom  Resources  Enterprises,  Inc. ("the Company") was
     organized  under  the  laws of the State of Nevada on November 6, 1996. The
     Company  has  not  generated  any  revenues  from  its  planned  principal
     operations  and  is  considered  a  development stage company as defined in
     Statement  of  Financial Accounting Standards No. 7. The Company originally
     planned  to  research  and  publish  a  self-improvement  book based on the
     insights  and  understanding  of major world cultures. However, the Company
     never published the book but instead has used the materials gathered during
     its  research  to  develop  a  series  of  eight  self-help workshops. Each
     self-taught  workshop consists of an audio tape and a workbook. The Company
     intends  to  market  these workshops over the internet. The Company has, at
     the present time, not paid any dividends and any dividends that may be paid
     in  the  future  will depend upon the financial requirements of the Company
     and  other  relevant  factors.

     CASH  AND  CASH  EQUIVALENTS - The Company considers all highly liquid debt
     investments  purchased  with  a maturity of three months or less to be cash
     equivalents.

     PROPERTY  AND  EQUIPMENT  -  Property  and  equipment  are  stated at cost.
     Expenditures  for  major  renewals  and  betterments that extend the useful
     lives  of  property  and  equipment  are  capitalized  upon being placed in
     service. Expenditures for maintenance and repairs are charged to expense as
     incurred.  Depreciation  is  computed  for financial statement purpose on a
     straight-line  method  over  the  estimated  useful  life  of  five  years.

     LONG-LIVED  ASSETS  -  The  Company  has  adopted  Statement  of  Financial
     Accounting Standards No. 144, "Accounting for the Impairment or Disposal of
     Long-Lived  Assets". The Company periodically reviews its long-lived assets
     for  impairment  whenever  events or changes in circumstances indicate that
     the  carrying  amount  of  an asset may not be recoverable. During the year
     ended  December  31, 2000, the Company recorded an impairment write-down of
     $21,285  of  manuscript  costs.

     INCOME  TAXES  -  The  Company accounts for income taxes in accordance with
     Statement  of Financial Accounting Standards No. 109 "Accounting for Income
     Taxes".  [See  Note  8].

     REVENUE  RECOGNITION  -  The Company has not yet generated any revenue. The
     Company  plans  to  recognize revenue when the product is delivered or when
     the  service is rendered. The Company will record revenues generated by the
     sale  of  items  that the Company produces or purchases as inventory on the
     gross  basis.  On  a  gross  basis,  the  entire sale amount is recorded as
     revenue.  The  Company  will  record revenue generated by the sale of items
     where  the Company only acts as an agent or when the Company has no risk of
     loss  on  the  net  basis.  The  Company  will  record revenue generated by
     Internet  sales  utilizing  third party websites on the net basis. On a net
     basis,  only  the  share of revenue belonging to the Company is recorded as
     revenue.

     STOCK  BASED  COMPENSATION  -  The  Company  accounts  for  its stock based
     compensation  in accordance with Statement of Financial Accounting Standard
     123  "Accounting  for Stock-Based Compensation". This statement establishes
     an  accounting method based on the fair value of equity instruments awarded
     to  employees  as  compensation.


                                       19
<PAGE>

                       FREEDOM RESOURCES ENTERPRISES, INC.
                          [A Development Stage Company]

                          NOTES TO FINANCIAL STATEMENTS

NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  [CONTINUED]

     LOSS PER SHARE - The computation of loss per share is based on the weighted
     average  number  of  shares  outstanding  during  the  period  presented in
     accordance  with Statement of Financial Accounting Standards (SFAS) No. 128
     "Earnings  Per  Share"  [See  Note  9].

     ACCOUNTING  ESTIMATES  -  The  preparation  of  financial  statements  in
     conformity  with  generally  accepted  accounting  principles in the United
     States  of  America  requires  management to make estimates and assumptions
     that affect the reported amounts of assets and liabilities, the disclosures
     of  contingent  assets  and  liabilities  at  the  date  of  the  financial
     statements  and  the  reported  amount  of revenues and expenses during the
     reported  period.  Actual  results  could  differ  from  those  estimated.

     RECENTLY  ENACTED  ACCOUNTING STANDARDS - Statement of Financial Accounting
     Standards  ("SFAS")  No.  141,  "Business  Combinations",  SFAS  No.  142,
     "Goodwill and Other Intangible Assets", SFAS No. 143, "Accounting for Asset
     Retirement  Obligations",  SFAS  No. 144, "Accounting for the Impairment or
     Disposal  of  Long-Lived  Assets",  SFAS  No.  145,  "Rescission  of  FASB
     Statements  No.  4,  44,  and  64,  Amendment of FASB Statement No. 13, and
     Technical Corrections", SFAS No. 146, "Accounting for Costs Associated with
     Exit  or  Disposal  Activities",  SFAS  No.  147,  "Acquisitions of Certain
     Financial Institutions - an Amendment of FASB Statements No. 72 and 144 and
     FASB  Interpretation  No. 9", and SFAS No. 148, "Accounting for Stock-Based
     Compensation  -  Transition and Disclosure - an Amendment of FASB Statement
     No.  123", were recently issued. SFAS No. 141, 142, 143, 144, 145, 146, 147
     and 148 have no current applicability to the Company or their effect on the
     financial  statements  would  not  have  been  significant.

     RECLASSIFICATION - The financial statements for years prior to December 31,
     2002  have been reclassified to conform to the headings and classifications
     used  in  the  December  31,  2002  financial  statements.

NOTE  2  -  PROPERTY  AND  EQUIPMENT

     Property  and  equipment  consisted  of  the  following  at:

<TABLE>
<CAPTION>

                                   December 31,
                                       2002
                                  --------------
<S>                               <C>
  Office equipment . . . . . . .  $       1,742

  Less: Accumulated depreciation         (1,131)
                                  --------------
                                  $         611
                                  ==============
</TABLE>

Depreciation  expense  for  the years ended December 31, 2002 and 2001 were $347
and  $348,  respectively.


                                       20
<PAGE>

                       FREEDOM RESOURCES ENTERPRISES, INC.
                          [A Development Stage Company]

                          NOTES TO FINANCIAL STATEMENTS

NOTE  3  -  MANUSCRIPTS,  TRANSCRIPTS,  ETC.

     The  Company paid $19,250 and $7,500 during 2000 and 1999 to consultants to
     prepare  manuscripts which the Company had planned to publish as a book. In
     December  2000,  in  accordance  with  Statement  of  Financial  Accounting
     Standards No. 121, the Company recorded an impairment write-down of $21,285
     due  to  the  Company  not  generating any revenues from the manuscripts. A
     summary  of  manuscripts,  transcripts,  etc. consists of the following at:

<TABLE>
<CAPTION>

                                   December 31,
                                       2002
                                  --------------
<S>                               <C>
  Manuscripts, transcripts, etc.  $      23,650

  Less: Accumulated amortization         (2,365)
  Less: Loss on impairment . . .        (21,285)
                                  --------------
                                  $           -
                                  ==============
</TABLE>

     Amortization  expense for the years ended December 31, 2002 and 2001 was $0
     and  $0,  respectively.

NOTE  4  -  CAPITAL  STOCK

     PREFERRED  STOCK - The Company has authorized 5,000,000 shares of preferred
     stock,  $.001  par value with such rights, preferences and designations and
     to  be  issued  in  such series as determined by the Board of Directors. No
     shares  are  issued  and  outstanding  at  December  31,  2002.

     COMMON  STOCK  - During November 1996, in connection with its organization,
     the  Company  issued  250,000  shares  of  its  previously  authorized, but
     unissued  common  stock.  Total proceeds from the sale of stock amounted to
     $2,500  (or  $.01  per  share).

     During  August  1997,  the  Company  issued 23,750 shares of its previously
     authorized,  but  unissued  common  stock.  Total proceeds from the sale of
     stock  amounted  to  $9,500  (or  $.40  per  share).

     During  May  and  August  1998,  the  Company  issued 101,250 shares of its
     previously  authorized,  but unissued common stock. Total proceeds from the
     sale of stock amounted to $40,500 (or $.40 per share). Stock offering costs
     of  $5,000  were  offset  against  the  proceeds.

     STOCK  OPTIONS - During 1997, the Board of Directors adopted the 1997 Stock
     Option  Plan  ("the Plan"). Under the terms and conditions of the Plan, the
     board is empowered to grant stock options to employees, officers, directors
     and  consultant  of the Company. Additionally, the Board will determine, at
     the  time  of  the  grant,  vesting provisions of the grant and whether the
     options  will  qualify  as incentive stock options under section 422 of the
     Internal  Revenue  code.  The  Plan was approved by the shareholders of the
     Company  at  its  1997  shareholder  meeting. The total number of shares of
     common  stock available under the Plan may not exceed 750,000 shares. As of
     December  31,  2002,  no  options  have  been  issued  under  the  Plan.


                                       21
<PAGE>

                       FREEDOM RESOURCES ENTERPRISES, INC.
                          [A Development Stage Company]

                          NOTES TO FINANCIAL STATEMENTS

NOTE  5  -  RELATED  PARTY  TRANSACTIONS

     PAYABLE TO RELATED PARTY - An officer of the Company advanced $288 to cover
     the  organization  costs  of  the  Company.  The  advance was repaid during
     December  2000.

     ADVANCES  FROM  A  SHAREHOLDER  -  An  officer/shareholder  of  the Company
     advanced  $120  to the Company. The advance bears no interest and is due on
     demand.

     MANAGEMENT  COMPENSATION - The Company has not paid any compensation to its
     officers  and  directors.

     OFFICE  SPACE  -  The  Company  has not had a need to rent office space. An
     officer/shareholder  of  the  Company  is  allowing  the Company to use his
     office  as  a  mailing  address,  as  needed, at no expense to the Company.

     MARKETING  AGREEMENT  -  The  Company  has  a marketing agreement with Life
     Discovery  Institute,  an  organization  that  is owned and operated by the
     Company's  president  [See  Note  7].

NOTE  6  -  GOING  CONCERN

     The accompanying financial statements have been prepared in conformity with
     generally  accepted  accounting principles in the United States of America,
     which  contemplate continuation of the Company as a going concern. However,
     the  Company  has  incurred losses since its inception and has not yet been
     successful  in establishing profitable operations. Further, the Company has
     current  liabilities  in  excess  of  current  assets.  These factors raise
     substantial  doubt  about the ability of the Company to continue as a going
     concern.  In  this  regard,  management is proposing to raise any necessary
     additional funds not provided by operations through additional sales of its
     common  stock. There is no assurance that the Company will be successful in
     raising  this additional capital or in achieving profitable operations. The
     financial  statements do not include any adjustments that might result from
     the  outcome  of  these  uncertainties.

NOTE  7  -  MARKETING  AGREEMENT

     From  August  1999 through October 2000, the Company invested approximately
     $15,674  towards  developing  a  website  to  market  its  products via the
     internet.  Ultimately, the Company did not launch its website. Instead, the
     Company  assigned  its  interest in the website to Life Discovery Institute
     ("LDI"), an education and publishing organization operated by the Company's
     president.  On May 31, 2001, the Company entered into a five-year marketing
     agreement  with  LDI.  Under  the  agreement,  the Company assigned all its
     interest  and  investment  in developing the website to LDI which completed
     development  and  launched the website. In exchange for the Company's prior
     investment in the website, LDI allows the Company to market its products at
     no charge through the LDI website. This agreement will end on May 31, 2006.
     The  company  currently  has  no  other  sources  of  distribution  for its
     workshops.


                                       22
<PAGE>

                       FREEDOM RESOURCES ENTERPRISES, INC.
                          [A Development Stage Company]

                          NOTES TO FINANCIAL STATEMENTS


NOTE  8  -  INCOME  TAXES

     The  Company  accounts  for  income  taxes  in accordance with Statement of
     Financial  Accounting Standards No. 109 "Accounting for Income Taxes". SFAS
     No.  109 requires the Company to provide a net deferred tax asset/liability
     equal  to  the  expected  future tax benefit/expense of temporary reporting
     differences  between  book  and  tax  accounting  methods and any available
     operating  loss  or  tax  credit  carryforwards.

     The  Company  has  available  at  December  31, 2002, unused operating loss
     carryforwards  of approximately $55,800 which may be applied against future
     taxable  income  and which expire in various years through 2022. The amount
     of  and  ultimate  realization  of  the  benefits  from  the operating loss
     carryforwards  for  income tax purposes is dependent, in part, upon the tax
     laws  in  effect,  the  future  earnings  of  the Company, and other future
     events,  the  effects  of  which  cannot  be  determined.  Because  of  the
     uncertainty  surrounding  the  realization  of  the loss carryforwards, the
     Company  has  established  a valuation allowance equal to the tax effect of
     the  loss  carryforwards  and,  therefore,  no  deferred tax asset has been
     recognized  for  the  loss  carryforwards.  The net deferred tax assets are
     approximately  $19,000  and  $19,300  as  of  December  31,  2002 and 2001,
     respectively,  with  an  offsetting valuation allowance of the same amount,
     resulting  in  a  change  in  the valuation allowance of approximately $300
     during  the  year  ended  December  31,  2002.


NOTE  9  -  LOSS  PER  SHARE

     The  following  data  show the amounts used in computing loss per share for
     the  periods  presented:

<TABLE>
<CAPTION>

                                                                              From Inception
                                                  For  the  Year  Ended       on November 6,
                                                      December  31,           1996  Through
                                              ------------------------------  December  31,
                                                   2002            2001           2002
                                              --------------  --------------  --------------
<S>                                           <C>             <C>             <C>
  Loss from continuing operations available
  to common shareholders (numerator) . . . .  $     (13,921)  $     (15,669)  $(79,221)
                                              --------------  --------------  --------------
  Cumulative effect of change in accounting
    principle (numerator). . . . . . . . . .  $           -   $           -   $   (221)
                                              --------------  --------------  --------------
  Weighted average number of common
  shares outstanding used in loss per share
  for the period (denominator) . . . . . . .        375,000         375,000    342,772
                                              ==============  ==============  ==============
</TABLE>

     Dilutive  loss  per  share  was not presented, as the Company had no common
     stock  equivalent  shares  for  all periods presented that would affect the
     computation  of  diluted  loss  per  share.


                                       23
<PAGE>

                       FREEDOM RESOURCES ENTERPRISES, INC.
                          [A Development Stage Company]

                          NOTES TO FINANCIAL STATEMENTS


NOTE  10  -  CUMULATIVE  EFFECT  OF  CHANGE  IN  ACCOUNTING  PRINCIPLE

     In  1996, the Company paid $288 in organization costs which reflect amounts
     expended to organize the Company. The Company was previously amortizing the
     costs,  but during 1998, in accordance with Statement of Position 98-5, the
     Company  expensed  the  remaining $221 in organization costs which has been
     accounted  for  as  a  change  in  accounting  principle.


                                       24
<PAGE>