<PAGE>



































             U. S. Securities and Exchange Commission
                     Washington, D. C.  20549

                          FORM 10-KSB/A

[X]  ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

     For the fiscal year ended March 31, 1999

[ ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

     For the transition period from _____________ to ____________

                   Commission File No. 0-23498

                       GRAYSTONE WORLD WIDE, INC.
                       --------------------------
          (Name of Small Business Issuer in its Charter)

            DELAWARE                                  33-0601487
            --------                                  ----------
(State or Other Jurisdiction of                (I.R.S. Employer I.D. No.)
 incorporation or organization)

                   68 South Main Street, Suite 600
                  Salt Lake City, Utah 84101
                     --------------------------
             (Address of Principal Executive Offices)

            Issuer's Telephone Number:  (801) 355-5826

                  282 S. Main Street, Suite C-D
                     Marietta, Georgia 30004
                     -----------------------
  (Former Name or Former Address, if changed since last Report)

Securities Registered under Section 12(b) of the Exchange Act:   None
Name of Each Exchange on Which Registered:                       None
Securities Registered under Section 12(g) of the Exchange Act:   Common Voting
Stock

     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 reports), and (2)
has been subject to such filing requirements for the past 90 days.

     (1)   Yes   X    No            (2)   Yes  X    No
                ---                           ---

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

     State Issuer's revenues for its most recent fiscal year:  March 31, 1999
-$0.

     State the aggregate market value of the voting stock held by
non-affiliates computed by reference to the price at which the stock
was sold, or the average bid and asked prices of such stock, as of a specified
date within the past 60 days.

     November 29, 1999 - $799,005.  There are approximately 5,113,632 shares
of common voting stock of the Registrant held by non-affiliates.  During the
past two years, there has been no "established public market" for shares of
common voting stock of the Registrant.  This valuation is based upon the
average bid price for shares of common stock of the Registrant on the OTC
Bulletin Board of the NASD on such date.

           (ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
                  DURING THE PAST FIVE YEARS)

                             N/A

             (APPLICABLE ONLY TO CORPORATE ISSUERS)

     State the number of shares outstanding of each of the Issuer's
classes of common equity, as of the latest practicable date:

                           November 29, 1999

                              18,267,000

               DOCUMENTS INCORPORATED BY REFERENCE

     A description of "Documents Incorporated by Reference" is contained
in Part III, Item 13.

Transitional Small Business Issuer Format   Yes  X   No
                                                ---
<PAGE>
                              PART I

Item 1.  Description of Business.
         ------------------------

Business Development.
---------------------

     For information regarding the business development of Graystone World
Wide, Inc. ("Graystone" or the "Company"), see the 10-KSB Annual Report of
Graystone for the fiscal year ended March 31, 1998, which was filed with the
Securities and Exchange Commission on August 19, 1999, and as amended on
February 16, 1999, both of which are incorporated herein by reference.  See
Part III, Item 13.

     Graystone had no material operations during the fiscal year ended March
31, 1999, with the exception of negotiations to acquire various enterprises
engaged in the manufacture and/or sale of footwear; none of these negotiations
resulted in any acquisition; however, legal proceedings were instituted
against Graystone on or about May 5, 1999, by Carter Footwear, Inc.("Carter
Footwear") and DEL-Line, L.L.C. ("DEL-Line")respecting negotiations with these
entities to acquire Carter Footwear.  See Part I, Item 3.

Business.
---------

     Graystone is a holding company specializing in the international
footwear industry.  (sentence deleted.)  It has limited footwear assets in its
wholly-owned subsidiary, Graystone Worldwide, Inc. ("Graystone Nevada"), but
has no current business operations.  See the 8-K Current Report dated March
26, 1998, which has been previously filed with the Securities and Exchange
Commission and which is incorporated herein by reference.

     Any intended operations will be subject to the ability of Graystone to
raise substantial debt or equity capital, as to which no assurance can be
given.

Principal Products or Services and Their Markets.
-------------------------------------------------

     None.

Competition.
------------

     Domestically, management believes that there will be no material
competition for the particular market-niche associated with the type of fabric
shoes Graystone has intended to manufacture and market under Graystone's
label.  Internationally, only China is believed to represent any principal
competition.  Graystone has no present operations or revenues.

Sources and Availability of Raw Materials.
------------------------------------------

     Graystone has established and maintains a wide variety of raw
material sources around the globe to include, but are not limited to: Chile,
Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and
Venezuela.  Management believes there are ample supplies of raw materials
for its contemplated business operations, which will require substantial debt
or equity funding before any operations can commence.

Patents, Trademarks, Licenses, Franchises, Concessions, Royalty Agreements or
Labor Contracts.
----------------

     None, not applicable.

Governmental Approval of Principal Products or Services.
--------------------------------------------------------

     None, not applicable.

Effects of Existing or Probable Governmental Regulations.
---------------------------------------------------------

     Graystone is subject to Regulation 14A of the Securities and Exchange
Commission, which regulates proxy solicitations.  Section 14(a) of the
Securities Exchange Act of 1934, as amended (the "1934 Act"), requires all
companies with securities registered pursuant to Section 12(g) thereof to
comply with the rules and regulations of the Securities and Exchange
Commission regarding proxy solicitations, as outlined in Regulation 14A.
Matters submitted to stockholders of Graystone at a special or annual meeting
thereof or pursuant to written consent will require Graystone to provide its
stockholders with the information outlined in Schedules 14A or 14C of
Regulation 14; preliminary copies of this information must be submitted to the
Securities and Exchange Commission at least 10 days prior to the date that
definitive copies of this information are forwarded to stockholders.

     Graystone is also required to file annual reports on Form 10-KSB
and quarterly reports on Form 10-QSB with the Securities and Exchange
Commission on a regular basis, and will be required to timely disclose certain
material events (e.g., changes in corporate control; acquisitions or
dispositions of a significant amount of assets other than in the ordinary
course of business; and bankruptcy) in a Current Report on Form 8-K.

     Management believes that these obligations will increase Graystone's
annual legal and accounting costs; and if Graystone is successful in raising
capital for its contemplated business operations, these funds would come from
operating expenses.

Cost and Effect of Compliance with Environmental Laws.
------------------------------------------------------

     None; not applicable.

Research and Development Expenses.
----------------------------------

     None; not applicable.

Number of Employees.
--------------------

     None.
                                  PART II

Item 7.  Financial Statements.
         ---------------------

          Consolidated Financial Statements for the years ended
          March 31, 1999 and 1998

          Independent Auditor's Report-March 31, 1999

          Independent Auditor's Report-March 31, 1998

          Consolidated Balance Sheet - March 31, 1999

          Consolidated Statements of Operations from commencement
          of development stage on May 4, 1992 to March 31, 1999
          and the Years ended March 31, 1999 and
          1998

          Statements of Consolidated Stockholders' Equity (Deficit)
          for the period May 4, 1992 to March 31, 1999

          Consolidated Statements of Cash Flows from
          May 4, 1992 to March 31, 1999
          and the Years ended March 31, 1998 and
          1999

          Notes to Consolidated Financial Statements
<PAGE>
                                GRAYSTONE WORLD WIDE, INC.
                                Consolidated Financial Statements
                                March 31, 1999 and 1998
<PAGE>
INDEPENDENT AUDITORS' REPORT

To the Board of Directors
and Stockholders of Graystone World Wide, Inc.


We have audited the accompanying consolidated balance sheet of Graystone World
Wide, Inc. and subsidiary, (a development stage company) as of March 31, 1999
and the related consolidated statements of operations, stockholders' equity
(deficit), and cash flows for the year then ended and the cumulative amounts
since January 16, 1998 (date of commencement of development stage).  These
consolidated financial statements are the responsibility of the Company's
management.  Our responsibility is to express an opinion on these consolidated
financial statements based on our audit.

We conducted our audit in accordance with generally accepted auditing
standards.  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 consolidated financial statements referred to above
present fairly, in all material respects, the financial position of Graystone
World Wide, Inc., as of March 31, 1999, and the results of their operations
and their cash flows for the year then ended and the cumulative amounts since
January 16, 1998 (date of commencement of development stage), in conformity
with generally accepted accounting principles.

The accompanying consolidated financial statements have been prepared assuming
that the Company will continue as a going concern.  As described in Note 1,
the Company is a development stage company with no significant operating
revenues to date and has a significant accumulated deficit.  These
circumstances raise substantial doubt about its ability to continue as a going
concern.  Management's plans in regard to this matter are also described in
Note 1.  The consolidated financial statements do not include any adjustments
that might result from the outcome of this uncertainty.

                         TANNER + CO.


Salt Lake City, Utah
July 14, 1999
<PAGE>

   THURMAN SHAW & CO., L.C.[letterhead]


                      INDEPENDENT AUDITORS' REPORT



To the Board of Directors and Shareholders
Graystone World Wide, Inc.


We have audited the balance sheets of Graystone World Wide, Inc., formerly
known as Achiote Corporation ( a development stage company), as of March 31,
1998 and 1997, and the related statements of operations, changes in
stockholders' equity and cash flows for each of the three years in the period
ended March 31, 1998 and cumulative for the period May 4, 1992 (date of
inception) through March 31, 1998.  These financial statements are the
responsibility of the Company's management.  Our responsibility is to express
an opinion on these financial statements based on our audits.  The financial
statements of Graystone World Wide, Inc., formerly known as Achiote
Corporation, from inception through March 31, 1994 (not presented herein),
were audited by another auditor whose report, dated July 7, 1994, expressed an
unqualified opinion on those statements.  Our opinion, in so far as it
relates to the cumulative amounts for the period from inception through March
31, 1994, is based solely on the report of the other auditor.

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

In our opinion, based on our audits and the report of the other auditor, the
financial statements referred to above present fairly, in all material
respects, the financial position of Graystone World Wide, Inc., formerly known
as Achiote Corporation (a development stage company), as of March 31, 1998 and
1997, and the results of its operations, changes in stockholders' equity and
cash flows for each of the three years in the period ended March 31, 1998 and
cumulative for the period May 4, 1992 (date of inception) through March 31,
1998, in conformity with generally accepted accounting principles.


THURMAN SHAW & CO., L.C.

Bountiful, Utah
July 9, 1998
<PAGE>
<TABLE>
                    GRAYSTONE WORLD WIDE, INC.
                  (A Development Stage Company)
                    Consolidated Balance Sheet

                                                    March 31,
<S>                                            <C>             <C>
            Assets                               1999          1998
Current assets:
    Cash                                        $    -        $   980
       Total current assets                          -            980

    Property and equipment, net                   10,308          -
                                                $ 10,308      $   980

            Liabilities and Stockholders' Equity
Current liabilities:
    Cash overdraft                              $     62      $   -
    Accounts payable                              68,713          677
    Accrued liabilities                          113,853          -
    Related party notes payable                  574,043          -
        Total current liabilities                756,671          677

Commitments                                          -            -

Stockholders' equity (deficit):
    Common stock, authorized 20,000,000 shares
     at $.001 par value; 14,807,000 shares and
     14,682,000 shares issued and
     outstanding, respectively                    14,807       14,682
    Additional paid-in capital                   370,097       (6,328)
    Accumulated deficit                       (1,131,267)      (8,051)
        Total stockholders' equity (deficit)    (746,363)         303
        Total liabilities and stockholders'
        equity (deficit)                      $   10,308      $   980
</TABLE>
                    GRAYSTONE WORLD WIDE, INC.
                  (A Development Stage Company)
               Consolidated Statement of Operations
                Year Ended March 31, 1999 and 1998
          and Cumulative Amounts Since January 16, 1998
           (Date of Commencement of Development Stage)
[CAPTION]
                                        1999          1998     Cumulative
                                                                 Amounts
[S]                                    [C]         [C]         [C]
Revenue                                 $      -    $      -    $      -
General and administrative expenses      1,057,071       8,051   1,065,122

   Net loss from operations             (1,057,071)     (8,051) (1,065,122)

Other income (expense):
   Interest expense                        (66,145)        -       (66,145)

   Net loss before provision for
   income taxes                         (1,123,216)     (8,051) (1,131,267)

Provision for income taxes                     -           -           -
   Net loss                            $(1,123,216)    $(8,051)$(1,131,267)
   Net loss per common share -
   basic and fully diluted             $      (.08)    $  (.01)$      (.14)

   Weighted average shares              14,754,000   1,452,000   8,103,000
<TABLE>
                    GRAYSTONE WORLD WIDE, INC.
                  (A Development Stage Company)
     Statement of Consolidated Stockholders' Equity (Deficit)
                 For the period January 16, 1998
           (Date of Commencement of Development Stage)
                     Through March 31, 1999
<CAPTION>
                             Common Stock   Additional
                                              Paid-In  Accumulated
                           Shares    Amount  Capital      Deficit      Total
<S>                        <C>       <C>     <C>       <C>        <C>
Balance, January 16, 1998        -        -         -         -            -

Shares issued to acquire
Graystone World Wide, Inc.12,787,100   12,787   (14,983)      -        (2,196)

Stock issued in
recapitalization           1,160,200    1,160     1,042       -         2,202

Shares issued for services
$0.001 per share             734,700      735     6,613       -         7,348

Contribution to capital          -        -       1,000       -         1,000

Net (loss)                       -        -         -      (8,051)     (8,051)

Balance, March 31, 1998   14,682,000  $14,682   $(6,328) $ (8,051)   $    303

Issuance of common
stock for:
    Cash                     100,000      100   299,900       -       300,000
    Services                  25,000       25    76,525       -        76,550

Net (loss)                       -        -         -   (1,123,216)(1,123,216)

Balance, March
31, 1999                  14,807,000  $14,807  $370,097$(1,131,267)$ (746,363)
</TABLE>
<TABLE>
                    GRAYSTONE WORLD WIDE, INC.
                  (A Development Stage Company)
               Consolidated Statement of Cash Flows

                     Years Ended March 31, 1999 and 1998
                 and Cumulative Amounts Since January 16, 1998,
                  (Date of Commencement of Development Stage)
<CAPTION>
                                          1999          1998    Cumulative
                                                                  Amounts
<S>                                   <C>           <C>         <C>
Cash flows from operating activities:
  Net loss                            $(1,123,216)   $  (8,051) $(1,131,267)
  Adjustments to reconcile net loss
  to net cash used in operating
  activities:
      Depreciation and amortization         1,091          -          1,091
      Common stock issued for services     76,550        7,348       83,898
      Increase (decrease) in:
         Cash overdraft                        62          -             62
         Accounts payable                  68,036          677       68,713
         Accrued liabilities              113,853          -        113,853

         Net cash used in
         operating activities            (863,624)         (26)    (863,650)

Cash flows from investing activities-
      purchase of property and equipment  (11,399)         -        (11,399)

Cash flows from financing activities:
      Proceeds from related party
      notes payable                       574,043          -        574,043
      Issuance of common stock            300,000        1,006      301,006

         Net cash provided by
         financing activities             874,043        1,006      875,049

         Net (decrease) increase in cash     (980)         980          -

         Cash, beginning of period            980          -            -

         Cash, end of period            $     -         $  980    $     -
</TABLE>
                    GRAYSTONE WORLD WIDE, INC.
                  (A Development Stage Company)
            Notes to Consolidated Financial Statements

                           March 31, 1999 and 1998
1. Summary of Business and Significant Accounting Policies

     Organization

          The Company was incorporated in the state of Delaware on May 4,
          1992 under the name Achiote Corporation (Achiote).  On March 20,
          1999, Achiote changed its name to Graystone World Wide, Inc.
          (Graystone) in conjunction with the merger with Graystone.  The
          Company is attempting to establish a shoe manufacturing and
          machinery operation.

          On March 20, 1999, the Company and Graystone completed an Agreement
          and Plan of Reorganization whereby the Company issued 12,787,100
          post split shares of its common stock in exchange for all of the
          outstanding common stock of Graystone.  Immediately prior to the
          Agreement and Plan or Reorganization, the Company had 1,160,200
          post-split shares of common stock issued and outstanding.

          The acquisition was accounted for as a recapitalization of
          Graystone because the shareholders of Graystone controlled the
          Company after the acquisition.  Therefore, Graystone is treated as
          the acquiring entity.  There was no adjustment to the carrying
          value of the assets or liabilities of Graystone in the exchange.
          The Company is the acquiring entity for legal purposes and
          Graystone is the surviving entity for accounting purposes.  On
          March 20, 1999, the shareholder of the Company authorized a forward
          stock split of two for one shares of common stock.  All references
          to shares of common stock have been retroactively restated to
          reflect the forward stock split.

     Development Stage Company

          Effective January 16, 1998, the Company is considered a development
          stage company as defined in SFAS No. 7.  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

          For purposes of the statement of cash flows, the Company considers
          all highly liquid debt instruments with an original maturity of
          three months or less to be cash equivalents.

     Property and Equipment

          Property and equipment is stated at cost.  Depreciation and
          amortization are computed using the straight-line method over
          estimated useful lives which range from 5 to 7 years.

          Use of Estimates

          The preparation of financial statements in conformity with
          generally accepted accounting principles requires management to
          make estimates and assumptions that affect the reported amounts of
          assets and liabilities and disclosure of contingent assets and
          liabilities at the date of the financial statements and the
          reported amounts of revenues and expenses during the reporting
          period.  Actual results could differ from those estimates.

     Income Taxes

          Deferred income taxes are provided in amounts sufficient to give
          effect to temporary differences between financial and tax
          reporting.

     Earnings Per Share

          The computation of basic earnings per common share is based on the
          weighted average number of shares outstanding during each year.

          The computation of diluted earnings per common share is based on
          the weighted average number of shares outstanding during the year
          plus the common stock equivalents, which would arise from the
          exercise of stock options and warrants outstanding using the
          treasury stock method and the average market price per share during
          the year.  Common stock equivalents are not included in the diluted
          earnings per share calculation when their effect is antidilutive.


     Going Concern

          The accompanying consolidated financial statement have been
          prepared assuming that the Company will continue as a going
          concern.  As of March 31, 1999, the Company had a deficit in
          working capital, and an accumulated deficit and incurred a loss for
          the year ended March 31, 1999.  These conditions raise substantial
          doubt about the ability of the Company to continue as a going
          concern.  The consolidated financial statements do not include any
          adjustments that might result from the outcome of this uncertainty.

          The Company's ability to continue as a going concern is subject to
          the attainment of profitable operations or obtaining necessary
          funding from outside sources.  The Company is currently seeking
          funds through the sale of common stock to both public and private
          sources.

2.   Property and Equipment

     Property and equipment consist of the following at March 31:

                                                 1999         1998
          Furniture and fixtures               $11,399    $       -
          Accumulated depreciation
          and amortization                      (1,091)           -
                                               $10,308    $       -

3.   Related Party Notes Payable

          At March 31, 1999, the Company had an unsecured, past due note
          payable to a shareholder with interest at 9.5% totaling $174,043.
          Accrued interest on the note totaled approximately $17,000 at
          March 31, 1999.

          At March 31, 1999, the Company had a note payable to an individual
          that owns a corporate shareholder.  The note is due on demand with
          interest at 9.5%, secured by common stock, with a principal balance
          of $400,000.  Accrued interest on the note totaled approximately
          $27,000 at March 31, 1999.

4.   Income Taxes

          The benefit for income taxes is different than amounts which would
          be provided by applying the statutory federal income tax rate to
          the loss before provision for income taxes for the following
          reasons:

                                                    Year Ended
                                                     March 31,
                                             1999          1998   Cumulative
                                                                    Amounts
          Income tax benefit at
           statutory rate                   $382,000     $3,000    $385,000
          Change in valuation
            allowance                       (382,000)    (3,000)   (385,000)
                                            $    -       $  -      $    -

               Deferred tax assets are comprised of the following:
                                                     March 31,
                                                  1999        1998
          Operating loss
          carryforwards                         $382,000     $3,000
          Valuation allowance                   (382,000)    (3,000)
                                                $    -       $  -

          At March 31, 1999, the Company had net operating loss carryforwards
          of approximately $1,333,000 available to offset future taxable
          income which begin to expire in 2009.  The amount of loss which may
          be used each year is limited based on several factors which include
          changes in Company ownership, the fair value of the Company and the
          federal discount rate.

          No deferred tax assets have been provided for the tax benefits of
          loss carryforwards due to uncertainty concerning their ultimate
          realization.

5.   Supplemental Cash Flow Information

     Actual amounts paid for interest are as follows:
                                                Years Ended
                                                  March 31,
                                            1999          1998
          Interest                          $20,000   $     -
          Income taxes                      $   -     $     -

6.   Related Party Transactions

          During the year ended March 31, 1999 the Company advanced $256,500
          to a company owned by the majority shareholder of the Company.
          These advances were used to satisfy liabilities of the Company.

7.   Commitments and Contingencies

     Operating Lease Obligation

          The Company leased certain office  space, under noncancellable
          operating lease agreements.  Future minimum lease payments required
          under operating leases are as follows:

               Year                               Amount
               2000                              $56,000
               2001                               58,800

                                                $114,800

          Rental expense for the years ended March 31, 1999 and 1998 related
          to these operating leases was approximately $51,000 and $-0-,
          respectively.

     Litigation

          Subsequent to March 31, 1999, the Company was named as a defendant
          in a lawsuit.  The estimated contingent loss ranges from zero to
          nine million dollars.  The likelihood of a favorable or unfavorable
          decision in this case is not currently determinable.

8.   Capital Stock

     Common Shares

          Holders of outstanding common shares are entitled to receive
          dividends out of assets legally available at such times and in such
          amounts as the Board of Directors may from time to time determine.
          Upon liquidation, dissolution or winding up of the Company, the
          assets legally available for distribution to the shareholders will
          be distributable ratably among the common shareholders at that
          time.  Any preferred shares outstanding will be entitled to
          preferential payments described below before any distribution to
          common shareholders.

     Preferred Shares

          The Board of Directors is authorized to designate series of
          preferred shares and to determine and fix the relative rights and
          preferences governing those shares.

          As of March 31, 1999, there were 1,000,000 preferred shares
          authorized and no preferred shares issued and outstanding.

9.   Fair Value of Financial Instruments

          None of the Company's financial instruments are held for trading
          purposes.  The Company estimates that the fair value of all
          financial instruments at March 31, 1999, does not differ materially
          from the aggregate carrying values of its financial instruments
          recorded in the accompanying balance sheet.  The estimated fair
          value amounts have been determined by the Company using available
          market information and appropriate valuation methodologies.
          Considerable judgement is necessarily required in interpreting
          market data to develop the estimates of fair value, and,
          accordingly, the estimates are not necessarily indicative of the
          amount that the Company could realize in a current market exchange.
<PAGE>
Item 13. Exhibits and Reports on Form 8-K.
         ---------------------------------

Reports on Form 8-K

     The following 8-K Current Reports have been filed by Graystone
during the past two fiscal years ended March 31, 1998 and 1999.

     8-K Current Report dated March 26, 1998, regarding the Plan with
Graystone Nevada and the following exhibits:

Agreement and Plan of Reorganization

     Exhibit A -    Graystone Stockholder
     Exhibit B -    Achiote Corporation Financial
                    Statements for the periods ended
                    March 31, 1997, 1996 and 1995
     Exhibit B-1    -    Achiote Corporation Unaudited
                    Financial Statements for the
                    period ended December 31, 1997
     Exhibit C -    Exceptions to Achiote Financial
                    Statements
     Exhibit D -    Graystone World Wide Financial
                    Statements for the period from
                    inception (January 16, 1998) to
                    January 31, 1998 (See Item 7 above)
     Exhibit E -    Exceptions to Graystone World
                    Wide Financial Statements
     Exhibit F -    Investment Letter
     Exhibit G -    Compliance Certificate of Achiote
                    Corporation
     Exhibit H -    Compliance Certificate of
                    Graystone World Wide, Inc.
     Exhibit I -    Consultant Shares

Certificate of Amendment to Certificate of
Incorporation reflecting name change to
"Graystone World Wide, Inc." and forward
split of shares

     8-K Current Report dated May 24, 1999, regarding litigation against
Graystone.

     8-K Current Report dated July 6, 1999, regarding the change in
accountants.

Exhibits*

          (i)
                                       Where Incorporated
                                         in this Report
                                         --------------

     10-KSB Annual Report for            Part I, Item I
     the fiscal year ended               Part II, Item 11
     March 31, 1998

     8-K Current Report dated            Part I, Item I, Part
     March 26, 1998**                    Part III, Items 11 and 12

     8-K Current Report dated            Part I, Item 3
     May 24, 1999**

     8-K Current Report dated            Part II, Item 8
     July 6, 1999**

          (ii)

Exhibit
Number               Description
------               -----------

 21       Subsidiaries of Graystone

 27       Financial Data Schedule

          *    Summaries of all exhibits contained within this
               Report are modified in their entirety by reference
               to these Exhibits.

          **   These documents and related exhibits have been
               previously filed with the Securities and Exchange
               Commission and are incorporated herein by reference.

                            SIGNATURES

     Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Registrant has duly caused this Report to
be signed on its behalf by the undersigned, thereunto duly authorized.

                                    GRAYSTONE WORLD WIDE, INC.


Date: 1/21/2000                     By/s/Donald J. Hallisy
      ------------                      ----------------------
                                        Donald J. Hallisy, Director and
                                        President

     Pursuant to the requirements of the Securities Exchange Act of
1934, as amended, this Report has been signed below by the following persons
on behalf of the Registrant and in the capacities and on the dates indicated:

                                    GRAYSTONE WORLD WIDE, INC.


Date: 1/21/2000                     By/s/Donald J. Hallisy
      -------------                     ----------------------
                                        Donald J. Hallisy, Director and
                                        President



Date: 1/21/2000                     By/s/David E. Nelson
      ------------                      ----------------------
                                        David E. Nelson
                                        Secretary/Treasurer and Director