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,  2001

[   ]     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         (IRS Employer Identification No.)
     of 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 [   ]   No [ X ]

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,
2001,  by  non-affiliates  of the issuers was $-0-.  There was no active trading
market and no quote Freedom Resources Enterprises, Inc. during fiscal year 2001,
therefore  the  value  is  deemed  to  be  $-0-.

As  of  December  31,  2001 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>

                       FREEDOM RESOURCES ENTERPRISES, INC.

                                      INDEX

TABLE  OF  CONTENTS

PART  I

Item  1.  Descriptions  of  Business

Item  2.  Descriptions  of  Property

Item  3.  Legal  Proceedings

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

PART  II

Item  5.  Market  for  Common  Equity  and  Related  Stockholder  Matters

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

Item  7.  Financial  Statements

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

PART  III

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

Item  10.  Executive  Compensation

Item  11.  Security  ownership  of  Certain  Beneficial  owners  and  Management

Item  12.  Certain  Relationships  and  Related  Transactions

PART  IV

Item  13.  Exhibits  and  Reports  on  Form  8-K


<PAGE>

                                     PART I


ITEM  1.  DESCRIPTION  OF  BUSINESS

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.

GENERAL

     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 have 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. As of June 30, 2002, we
have  not  generated  any revenue and have not made any sales either directly or
through  the  LDI  website.

     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:


                                        3
<PAGE>

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

     -    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  LICENSING  AGREEMENT  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  to  Freedom  Resources through the LDI website at www.ldi4u.com.
                                                                  --------------
This  is currently the only source of distribution for our workshops.  We intend
to  seek  additional  sources  of  marketing,  however, we have no agreements or
understandings  to  that  effect  at  the  present  time.

THE  INTERNET  AND  OUR  TARGET  MARKETS

     The  Internet  has  emerged  as a significant global communications medium,
enabling  millions  of  people  to  share  information  and  conduct  business
electronically and providing advertisers and businesses with an attractive means
of  marketing  and  selling  their  products  and  services.  International Data
Corporation  estimates  the number of users accessing the web will increase from
approximately  142  million at the end of 1998 to over 500 million by the end of
2003.  According  to  International  Data  Corporation,  the  amount of commerce
conducted  over  the  web  will  top  $1 trillion by 2003. Forrester Research, a
research  firm  that analyzes the future of technological change and its impact,
estimates  that  the  amount spent on online advertising in the United States is
expected  to  increase  to  approximately  $22.2  billion  by  2004.  The  above
statistics  are  publicly  available free of charge or for a nominal charge, and
were  not  commissioned  by  the  Company.


                                        4
<PAGE>

     Our  business  targets  the  self-improvement market which has demonstrated
strong  historical  growth.  According  to  Self  Improvement  Online  Marketing
Newsletter,  in  1997  the  personal  and professional self-improvement industry
generated  offline  sales  of  nearly  $65.0  billion:  $6.0 billion in personal
self-improvement  products  and  services  and  $58.6  billion  in  professional
corporate training, products and services. Consumers are projected to spend $7.4
billion  in 2000 and $10.3 billion in 2003 on personal self-improvement products
and  services. Traditional distribution channels for these products and services
have  included  infomercials,  catalogs,  seminars/courses, retreats, books, and
audio/video  cassettes.  We  intend  to  appeal  to  the self-improvement market
through  an internet presence.  The above statistics are publicly available free
of  charge  or  for  a nominal charge, and were not commissioned by the Company.

     We  believe  that  Life Discovery Institute and similar websites provide an
online  destination  for  people  seeking  guidance  in  their  personal  and
professional  lives.  We  intend  to develop and market products directed toward
achieving  these  goals.  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  believe  that  providing our products through the internet allows us to
overcome  the  limitations  of  time  and travel and the expense associated with
traditional  offline  personal  and  professional  programs.

     Management  is  also  considering  other  strategies  to  promote  Freedom
Resources'  products.  Possible  strategies include advertising through targeted
publications,  advertising on radio stations and cross-promotional arrangements.
We  also  plan to leverage other audience building strategies, including working
with  search  engine  submissions,  news group postings and cross-promotion with
affinity  sites  to  properly  index  materials.

     The  LDI  website,  www.ldi4u.com,  is  currently  the  main  access to our
products. We intend to use the LDI website as our primary marketing tool for the
foreseeable  future.  We hope to develop marketing agreements with other parties
to sell our products, however, we have no such agreements in place or pending at
the  present  time.

     To  date,  we have not generated any revenue from the sale of our products.
We  anticipate  that  revenues will eventually be generated from the sale of our
products  through  the  LDI  website.  We  have  no  assurance  that  we will be
successful  in  selling  our  products  and we have no history of generating any
revenue.  To  the  extent we are unable to generate revenue, we may need to find
additional  sources  of  financing  in  order to continue operations. We have no
commitments  for any funding. In seeking additional financing, we may sell stock
or  look  for  debt  financing.

COMPETITION

     The  self-improvement and motivational training industry in general is very
competitive,  with  several  major  companies involved. We face competition from
large,  well-established  companies  with  considerably  greater  financial,
marketing,  sales  and  technical  resources  than  those  available  to  us.


                                        5
<PAGE>

Additionally,  many  of  our present and potential competitors have research and
development  capabilities  that  may  allow  such competitors to develop new and
improved  products  that  may  compete  with  our  products.

     Our  direct  competitors  utilize  much  of  the  same  philosophy  for
self-improvement  and  motivation,  and  use  the  same  or  similar  medium for
marketing  their  products  and  services.  According to Self Improvement Online
Marketing  Newsletter,  leading  competitors  include  the  following:

     Tony  Robbins'  program,  "Education  for  Excellence,"  in  San  Diego,
California,  owns  a  market  share  of approximately twenty percent (20%). Tony
Robbins  is  an  industry  leader,  holding the largest portion of the audiotape
motivational  market. His company reports approximately $100 million per year in
audiotape  sale  alone.

     Oxygen  Media  is  a competitor founded by Oprah Winfrey and her associates
that  operates  out of New York City. Oxygen Media markets products specifically
directed  toward women and holds a market share of approximately fifteen percent
(15%).  Oxygen Media operates several websites offering information for women on
health,  nutrition,  medicine,  fitness, sexuality and weight management. Oxygen
Media  premiered  a multi-million dollar cable television network on February 2,
2000.

     Franklin  Covey  operates  out  of  Salt Lake City, Utah, and owns a market
share  of approximately ten percent (10%). This organization offers seminars for
business  and  commercially  markets  books, planning calendars and motivational
tapes.  They have associates who serve as distributors for products and services
throughout  the  United  States  and  abroad.

     The  Pacific  Institute is another competitor, which owns a market share of
approximately three percent (3%). This organization provides motivation seminars
and training services in the United States, England, Germany and Australia. Most
of  their  programs  are  marketed  on  video.

     WomenConnect.com  is  a  web-based  company  that  provides  informational
services  for  women on health, fitness and career advancement. WomenConnect.com
owns  a  market  share  of  approximately  two  percent  (2%).

     Business  and  Professional  Women/USA  is  an  organization  that conducts
research  on  issues  related  to  women and working. This company owns a market
share  of  approximately  one  half  percent  (.5%).

     Lifelines  Institute  is  another  competitor,  which provides seminars and
training  for  companies  in  the  metropolitan  San  Francisco area.  Lifelines
Institutes  owns  a  market  share  of  approximately  one  half  percent (.5%).

     The  other  fourteen  percent  (14%)  of  the  market covers numerous small
companies  who  are generating revenues of less than 2 million dollars annually.

     Most  of  our  existing  and  potential  competitors  have longer operating
histories,  greater  name  recognition  and  significantly  greater  financial,
technical  and  marketing  resources.  This  may  allow  them  to devote greater
resources  than  we  can for the development and promotion of their services and
products.  These  competitors  may  also  engage in more extensive marketing and
advertising  efforts,  adopt  more  aggressive  pricing  policies  and make more
attractive  offers to advertisers and alliance partners. Accordingly, we may not
be  able  to  compete  successfully.  Competitive  pressures may have a material
adverse  effect  on our business, results of operations and financial condition.


                                        6
<PAGE>

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.

ITEM  2.  DESCRIPTION  OF  PROPERTY

     We  do  not  currently  own any property other than basic office equipment,
manuscripts,  books  and audiotapes comprising our workshops.  We utilize office
space  provided  by  our president on a rent-free basis located at 901 East 7800
South,  Midvale,  UT 84047.  This arrangement is expected to continue until such
time  as  our  activities  expand  to  a  point  necessitating  relocation.

ITEM  3.  LEGAL  PROCEEDINGS

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

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 in the Company's Common Stock on a
recognized  exchange.

     At  October  1,  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.

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

RESULTS  OF OPERATIONS FOR THE PERIODS ENDING DECEMBER 31, 2001 AND DECEMBER 31,
2000

     Net  loss  was $15,669 for the year ended December 31, 2001 and $40,956 for
the year ended December 31, 2000.  We have realized a total  $65,521 in net loss
from  inception on November 6, 1996 through December 31, 2001.  During this time
we  have  not  generated  any  revenues.

     Expenses  were  $15,670  for the year ended December 31, 2001 consisting of
$15,322  in  general  and  administrative  costs  and  $348  in depreciation and
amortization.  This  compares to expenses of $41,212 for the year ended December
31,  2000.  Expenses  in  2000 consisted of $3,979 in general and administrative
costs,  $2,714  in  depreciation  and  amortization,  $13,234  in  research  and
development  and  $21,285  in  impairment  of  long-lived  assets.


                                        7
<PAGE>

     Higher  general  and  administrative  costs  in  2001  were  the  result of
professional  and  legal fees associated with filing a Registration Statement on
Form 10-SB. Higher overall expenses in 2000 were due to research and development
costs  associated  with producing our workshops and expenditures associated with
developing  the  LDI  website.  We  also  recorded  impairment  costs of $21,285
resulting  from  our  lack  of  generating  revenues  from  the  manuscripts and
transcripts.

     We  earned  $1  in  interest  income  for  the year ended December 31, 2001
compared  to  $256  in  interest  income  for  the year ended December 31, 2000.

     As  of  December 31, 2001, we had total assets of $1,061 consisting of $103
in  cash  and  $958  in  property  and equipment. Total 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,  2001  we  had  $103  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 and may seek
alternate  means  of  marketing  our  workshops.

     We  anticipate  that our expenses will increase over the next twelve months
due  to  accounting  and  legal fees incurred as the result of being a reporting
company, as a result, we will not be able to meet our cash needs.  We anticipate
that  we  will  rely  on  advances and loans from our officers, directors and/or
shareholders  to  continue  operations  for  the  next  twelve  months.

     Since  inception we have primarily financed our operations through the sale
of  common stock.  In order to raise the necessary capital to cover expenses and
continue  marketing  our  workshops,  we may sell additional stock, arrange debt
financing  or  seek  other  avenues  of  raising  capital.  We  do  not have any
commitments  for  financing.

RESEARCH  AND  DEVELOPMENT

     We  estimate  that we have spent approximately $21,285 for research related
to  our  workshops.  Our  efforts included researching various historical global
cultures  and  gathering  materials related to the views held by those cultures.
This  culminated  in  the  production  of  our  eight workshops.  The costs were
originally capitalized as manuscript costs but were eventually written off as an
impairment  loss  at  December 31, 2000.  We have also contributed approximately
$15,674  to  the  development  of  the  LDI  website  which has been recorded as
research  and  development  expense.  We  intend  to  continue research directed
toward  developing  new  workshops and possibly seminars targeting the self-help
and  motivational  markets.

ITEM  7.  FINANCIAL  STATEMENTS

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

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

     None


                                        8
<PAGE>

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   66  President and Director  November, 1996

Margie Aliprandi.   44  Secretary and Director  November, 1996

Charisse Orton. .   35  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  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.


                                        9
<PAGE>

ITEM  11.  SECURITY  OWNERSHIP  OF  CERTAIN  BENEFICIAL  OWNERS  AND  MANAGEMENT

     The  following  table  sets  forth  as of October 1, 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                     TITLE OF   NUMBER OF SHARES   % OF SHARES
                                      CLASS:   BENEFICIALLY OWNED
<S>                                  <C>       <C>                 <C>

Neil Christiansen (1)
901 East 7800 South
Midvale, UT  84047. . . . . . . . .  Common               320,000         85.3%

ARN Enterprises, Inc.
336 West End Avenue, #120
New York, NY  10023 . . . . . . . .  Common                18,750          5.0%

ZDN, LLC
336 West End Avenue, #120
New York, NY  10023 . . . . . . . .  Common                18,750          5.0%

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

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

Officers and Directors as a Group:
3 People. . . . . . . . . . . . . .  Common               341,250         91.0%

(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, President and director of
Freedom  Resources.

     We  utilize  office  space  provided  at  no  charge by our president, Neil
Christiansen.

     Mr.  Christiansen  has advanced $120 to the Company. The advance carries no
interest  and  is  payable  on  demand.


                                       10
<PAGE>

     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.

<TABLE>
<CAPTION>

ITEM  13.  EXHIBITS  AND  REPORTS  ON  FORM  8-K

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

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

          99.2  Certification of CFO pursuant to Section 906 of the Sarbanes-
                Oxley Act of 2002 . . . . . . . . . . . . . . . . . . . . . .  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.


                                   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:  October  23,  2002       /s/ Neil  Christiansen
                                -----------------------
                                Neil  Christiansen
                                CEO and Chief Financial Officer


                                       11
<PAGE>

<TABLE>
<CAPTION>

                          INDEX TO FINANCIAL STATEMENTS

                       FREEDOM RESOURCES ENTERPRISES, INC.

                          AUDITED FINANCIAL STATEMENTS


<S>                                                    <C>
Independent Auditors' Report. . . . . . . . . . . . .       13

Balance Sheets, December 31, 2001 and 2000. . . . . .       14

Statements of Operations for the Years Ended
December 31, 2001 and 2000. . . . . . . . . . . . . .       15

Statements of Changes in Stockholders' Equity for the
 Years Ended December 31, 2001 and 2000 . . . . . . .       16

Statements of Cash Flows for the Years Ended
         December 31, 2001 and 2000 . . . . . . . . .       17

Notes to Financial Statements for the Years
         Ended December 31, 2001 and 2000 . . . . . .  18 - 22

</TABLE>


                                       12
<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, 2001 and the related
statements  of operations, stockholders' equity (deficit) and cash flows for the
years  ended  December  31,  2001  and 2000 and for the period from inception on
November  6, 1996 through December 31, 2001.  These financial statements are the
responsibility of the Company's management.  Our responsibility is to express an
opinion  on  these  financial  statements  based  on  our  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, 2001 and the results of its operations and its cash flows for
the  years ended December 31, 2001 and 2000 and for the period from inception on
November  6,  1996  through  December  31,  2001,  in  conformity with generally
accepted  accounting  principles  in  the  United  States  of  America.

The  accompanying  financial  statements have been prepared assuming 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.



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

September  5,  2002
Salt  Lake  City,  Utah


                                       13
<PAGE>

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

<TABLE>
<CAPTION>

                                  BALANCE SHEET

                                     ASSETS

                                                 December 31,
                                                     2001
                                                --------------
<S>                                             <C>
CURRENT ASSETS:
  Cash . . . . . . . . . . . . . . . . . . . .  $         103
                                                --------------
    Total Current Assets . . . . . . . . . . .            103

PROPERTY AND EQUIPMENT, net. . . . . . . . . .            958
                                                --------------
                                                $       1,061
                                                =============


          LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)


CURRENT LIABILITIES:
  Accounts payable . . . . . . . . . . . . . .  $      18,962
  Advance from a shareholder . . . . . . . . .            120
                                                --------------
      Total Current Liabilities. . . . . . . .         19,082
                                                --------------

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. . . . . . . . . . . . .        (65,521)
                                                --------------
    Total Stockholders' Equity (Deficit) . . .        (18,021)
                                                --------------
                                                $       1,061
                                                =============
</TABLE>

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


                                       14
<PAGE>

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

<TABLE>
<CAPTION>

                            STATEMENTS OF OPERATIONS

                                                                    From  Inception
                                          For  the  Years           on  November  6,
                                        Ended  December  31,        1996  Through
                                   ------------------------------   December  31,
                                        2001            2000          2001
                                   -------------   --------------   ---------------
<S>                                <C>             <C>              <C>
REVENUE . . . . . . . . . . . . .  $           -   $            -   $      -
                                   -------------   --------------   ---------------
EXPENSES:
  Depreciation and amortization .            348            2,714      3,149
  General and administrative. . .         15,322            3,979     26,407
  Research and development. . . .              -           13,234     15,674
  Impairment of long-lived assets              -           21,285     21,285
                                   -------------   --------------   ---------------
    Total expenses. . . . . . . .         15,670           41,212     66,515
                                   -------------   --------------   ---------------
LOSS FROM OPERATIONS. . . . . . .        (15,670)         (41,212)   (66,515)

OTHER INCOME:
  Interest Income . . . . . . . .              1              256      1,215
                                   -------------   --------------   ---------------

LOSS BEFORE INCOME TAXES. . . . .        (15,669)         (40,956)   (65,300)

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

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

LOSS FROM CONTINUING
  OPERATIONS. . . . . . . . . . .        (15,669)         (40,956)   (65,300)

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

NET LOSS. . . . . . . . . . . . .  $     (15,669)  $      (40,956)  $(65,521)
                                   ==============  ==============   ===============

LOSS PER COMMON SHARE:
  Continuing operations . . . . .  $        (.04)  $         (.11)  $   (.19)
  Change in accounting principle.              -                -       (.00)
                                   -------------   --------------   ---------------
  Loss per common share . . . . .  $        (.04)  $         (.11)  $   (.19)
                                   ==============  ==============   ===============
</TABLE>


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


                                       15
<PAGE>

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

<TABLE>
<CAPTION>

                                     STATEMENT  OF  STOCKHOLDERS' EQUITY (DEFICIT)

                                        FROM  INCEPTION  ON  NOVEMBER  6,  1996

                                              THROUGH  DECEMBER  31,  2001

                                                                                                            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)
                                           ==========  ===========  ==========  ===========  =============  ==============
</TABLE>

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


                                       16
<PAGE>

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

<TABLE>
<CAPTION>

                                    STATEMENTS  OF  CASH  FLOWS

                                                                                      From  Inception
                                                        For  the  Years  Ended        on  November  6,
                                                             December  31,            1996  Through
                                                    --------------------------------  December  31,
                                                         2001              2000          2001
                                                    ---------------  ----------------  ------------
<S>                                                 <C>              <C>               <C>

CASH FLOWS FROM OPERATING ACTIVITIES:
  Net loss . . . . . . . . . . . . . . . . . . . .  $      (15,669)  $       (40,956)  $(65,521)
  Adjustments to reconcile net loss to net cash
    used by operations:
    Amortization expense . . . . . . . . . . . . .               -             2,365      2,432
    Depreciation expense . . . . . . . . . . . . .             348               349        784
    Loss on impairment of long-lived assets. . . .               -            21,285     21,285
    Effect of change in accounting principal . . .               -                 -        221
    Changes in assets and liabilities:
    Increase in accounts payable . . . . . . . . .          15,216             3,746     18,962
    (Decrease) in accounts payable - related party               -              (288)         -
                                                    ---------------  ----------------  ------------
        Net Cash (Used) by Operating Activities. .            (105)          (13,499)   (21,837)
                                                    ---------------  ----------------  ------------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Purchase of property and equipment . . . . . . .               -                 -     (1,742)
  Organization costs . . . . . . . . . . . . . . .               -                 -       (288)
  Cost of manuscripts. . . . . . . . . . . . . . .               -           (16,150)   (23,650)
                                                    ---------------  ----------------  ------------
    Net Cash (Used) by Investing Activities. . . .               -           (16,150)   (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. . . . . . . . . .              15           (29,649)       103

CASH AT BEGINNING OF PERIOD. . . . . . . . . . . .              88            29,737          -
                                                    ---------------  ----------------  ------------
CASH AT END OF PERIOD. . . . . . . . . . . . . . .  $          103   $            88   $    103
                                                    ===============  ===============   ============

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,  2001:
          None

     For  the  Year  Ended  December  31,  2000:
          In December 2000, the Company recorded an impairment write-down of the
          carrying  value of its manuscripts, transcripts, etc. in the amount of
          $21,285.

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


                                       17
<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.

     IMPAIRMENT  -  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.

     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 from 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 from 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.
     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.

     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].


                                       18
<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  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", and SFAS No. 146, "Accounting for Costs Associated
     with Exit or Disposal Activities", were recently issued. SFAS No. 141, 142,
     143, 144, 145 and 146 have no current applicability to the Company or their
     effect  on  the  financial  statements  would  not  have  been significant.

NOTE  2  -  PROPERTY  AND  EQUIPMENT

     Property  and  equipment  consisted  of  the  following  at:

<TABLE>
<CAPTION>

                                   December  31,
                                       2001
                                  --------------
<S>                               <C>
  Office equipment . . . . . . .  $       1,742

  Less: Accumulated depreciation           (784)
                                  --------------
                                  $         958
                                  ==============
</TABLE>

Depreciation  expense  for  the years ended December 31, 2001 and 2000 were $348
and  $349,  respectively.


                                       19
<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,
                                        2001
                                  --------------
<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, 2001 and 2000 was $0
     and  $2,365,  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,  2001.

     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  consultants 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,  2001,  no  options  have  been  issued  under  the  Plan.


                                       20
<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 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 who 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.


                                       21
<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, 2001, unused operating loss
     carryforwards  of approximately $65,000 which may be applied against future
     taxable  income  and which expire in various years through 2021. 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  $19,300  and  $17,000  as  of  December  31,  2001 and 2000,
     respectively,  with  an  offsetting valuation allowance of the same amount,
     resulting  in  a  change in the valuation allowance of approximately $2,300
     during  the  year  ended  December  31,  2001.


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,
                                                 2001           2000            2001
                                            --------------  --------------  --------------
<S>                                         <C>             <C>             <C>
Loss from continuing operations available
to common shareholders (numerator) . . . .  $     (15,669)  $     (40,956)  $     (65,300)
                                            --------------  --------------  --------------
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         336,518
                                            ==============  ==============  ==============
</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.

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.


                                       22
<PAGE>