UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-KSB
 (Mark One)

/X/  Annual report under section 13 or 15(d) of the  Securities  Exchange Act of
     1934 for the fiscal year ended December 31, 2002.

/ /  Securities   Exchange   Act  of  1934  for  the   transition   period  from
     ___________________ to ________________________.

Commission file number 0-27489

                                 DuraVest, Inc.
              (formerly Great Wall Food and Beverage Corporation)
                 (Name of Small Business Issuer in Its Charter)


            Florida                                         59-2624574
-------------------------------                  -------------------------------
(State or Other Jurisdiction of                  (I.R.S. Employer Identification
  Incorporation or Organization)                             Number)


37 Prince Arthur Avenue, Suite 300, Toronto, Ontario, Canada            M5R 1B2
         (Address of Principal Executive Offices)                     (Zip Code)
Issuer's telephone number:  (416) 961-1409

       Securities to be registered pursuant to Section 12(b) of the Act:
                                (Title of class)
                                      None

                    Name of exchange on which registered
                                      None

          Securities to be registered under Section 12(g) of the Act:
                     $.001 Per Share Par Value Common Stock

Check  whether the Issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Securities  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.
Yes   X   No
     ---     ---

Check if there is no disclosure of delinquent filers in response to Item 405 of
Regulation S-B 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.   [  ]

The revenue for its most fiscal year was $ -0-.

The aggregate market value of the Issuer's common stock held by non-affiliates
as of December 30, 2002 (valued at the average of the bid and asked prices as of
that date) was $23,760,009.

The Issuer has never been involved in bankruptcy proceedings.

The number of shares outstanding of the Issuer's common stock as of March 14,
2003 was 36,766,640.

Documents incorporated by reference. There are no: (1) annual report to security
holders; (2) proxy or information statements; or (3) any prospectus filed
pursuant to Rule 424(b) or (c) of the Securities Act of 1933 ("Securities Act")
incorporated by reference herein.

                     Traditional Small Business Disclosures
                     Format (Check one):
                     Yes  X   No
                         ---     ---
<PAGE>


                                     PART I


     The Issuer, DuraVest, Inc., a Florida corporation, is electing to furnish
the information required by Items 6-12 of Model B of Form 1-A under Alternative
2 of Form 10-SB.


Item 1A. Company Risk Factors.
-------  --------------------

     The Issuer and its outstanding securities are subject to risks including
those set out in this Item 1A.

     WE HAVE NO INCOME PRODUCING OPERATIONS OR ASSETS WHICH CAUSE A CONTINUING
DEPLETION OF OUR ASSETS. The Issuer presently has no material income producing
operations or assets. Unless the Issuer is successful in its efforts to enter
into a business combination or acquisition of assets resulting in operational
income, the Issuer's assets will be depleted.

     WE HAVE NO PRESENT ARRANGEMENTS TO ACQUIRE THE FUNDS NEEDED TO FINANCE THE
ESTRACURE PROJECT. Even if we are able to complete the acquisition of Cardio
discussed in Item 1. below, we do not presently have any present arrangements
under which we can acquire the funds which would be required to fund the
Estracure project under Cardio's option.

     THE COST OF MAINTAINING THE REGISTRATION OF OUR STOCK UNDER SECTION 12(g)
OF THE SECURITIES EXCHANGE ACT WILL CONTINUE OUR OVERHEAD AND ASSET DEPLETION.
The cost of complying with the reporting requirements created by this
registration of our common stock will materially increase the Issuer's
administrative overhead and accelerate the depletion of its assets.

     WE HAVE NO PRESENT ARRANGEMENTS TO ACQUIRE ANY ADDITIONAL CAPITAL NEEDED TO
CONTINUE OUR EXISTENCE. The Issuer has no present arrangement under which it
might acquire any additional capital needed to continue its existence. There is
no assurance that it will be able to develop any such capital source.

     WE HAVE NO ASSURANCE THAT ANY BUSINESS COMBINATION OR ASSET ACQUISITION WE
MIGHT MAKE WILL BE SUCCESSFUL. There is no assurance that any business
combination or asset acquisition entered into by the Issuer will result in
successful income producing operations.

     OUR AUDITOR HAS EXPRESSED DOUBT AS TO OUR ABILITY TO CONTINUE AS A GOING
CONCERN. The Company's auditor has included an additional paragraph in their
report dated march 15, 2003, in which they state that there are conditions
present which raise substantial doubt about the Company's ability to continue as
a "going concern".


Item 1.  Description of the Business
-------  ---------------------------
(Item 6 of Model B of Form 1A)

     The Issuer was organized in 1980 as a Florida corporation named Ronnie
Interior Designs, Inc. (which was changed to Ronnie Systems, Inc. on 1997). It
was formed to engage in the interior design business. These business operations
became dormant in 1995.


                                       2
<PAGE>



     In March of 1998, the Issuer was reorganized. Its Articles of Incorporation
were amended to: (i) change its name to Great Wall Food and Beverage
Corporation; (ii) change its authorized capital to its present structure; and
(iii) reverse split its then outstanding 100,000 shares of Common Stock into
10,000 shares (one new share for each ten old shares).

     As part of the reorganization, the Issuer's Board of Directors authorized
the Issuer to acquire all of the outstanding 1,700,000 shares of Food & Beverage
Masters (China), Inc., an unaffiliated Delaware corporation in exchange for
1,700,000 shares of the Issuer's Common Stock. It was represented to the Issuer
that the Delaware company owned 80% of a joint venture with the Chan Zhou Dairy
Company. This Chinese company owned and operated a dairy processing plant. These
facilities were located in Changzhou, China in the Yangtze River Delta in the
Jiangsu Province of China. The Chinese Joint Venture was to produce and market
bagged milk, yogurt, ice cream and related dairy products in the Changzhou area.
In addition, the proposed Delaware subsidiary was exploring the formation of
another venture with a different Chinese partner. The purpose of the second
proposed venture was to bottle and market low and non-alcoholic drinks.

     The Issuer was also authorized to issue a total of 6,760,000 shares of
Common Stock to six other companies and individuals who were to furnish
assignments of intangible assets and services to the proposed Chinese
operations.

     The Issuer then made a cash offering of shares of its Common Stock at $.15
per share to raise capital for the pending Chinese operations. The offering was
made from March through August of 1998. A total of 2,666,664 shares were sold
for $399,999.60 in gross proceeds. The offering was made pursuant to the
exemption from the registration requirements of Section 5 of the Securities Act
of 1933 provided in Rule 504 of Regulation D adopted under that Act.

     Following the offering the Issuer proceeded to pursue the proposed
transaction. However, during these efforts the Issuer learned that the Chinese
project, its assets and operations were not as represented. In October of 1998,
the Issuer terminated the proposed venture. None of the stock authorized for the
Chinese project was issued.

     The Issuer spent approximately $315,000.00 on the Chinese project prior to
its termination. Included in these costs were $100,000.00 deposited on the
purchase of milk processing and bottling equipment which purchase was not
completed. The Issuer believes that it is entitled to a refund of all of the
deposit. The Issuer and the equipment manufacturer agreed on April 14, 2000 that
the deposit would be refunded to the Issuer in five equal installments
commencing in March 2000. The Issuer received two payments of $20,000 each on
the settlement agreement on which the manufacturer is now in default. The Issuer
pursued collection proceedings on the balance of $60,000 and settled for a
payment of $20,000 in March of 2003.

     In November of 1999, Hatchment Holdings, Inc., a company wholly owned by
Bradley R. Wilson, then an officer and director of the Issuer, purchased
1,000,000 shares of the Issuer's then Common Stock for cash at $.052 per share
for a total of $52,000.

     On November 9, 2001 the Issuer amended its Articles of Incorporation to
change its name to DuraVest, Inc. ("DuraVest" of "Issuer"), and to complete a
forward split of its outstanding Common Stock in the basis of ten shares of the
new stock for each then outstanding share. This resulted in an increase of its
total outstanding shares of Common Stock from 3,676,640 shares to 36,766,640
shares.

                                       3
<PAGE>


     The Issuer's present business plan is to continue the registration of its
Common Stock under Section 12(g) of the Securities Exchange Act of 1934
("Exchange Act") and to find a new business opportunity. The Issuer will seek
and attempt to enter into a business combination or acquisition of assets by
which it will become engaged in an active business venture. It is likely that if
such a transaction is made it will involve control of the Issuer being acquired
by the other party to the transaction.

     On April 4, 2002 the Issuer entered into a Conditional Stock Exchange
Agreement ("Exchange Agreement") with Cardio Management Systems, Inc., a
corporation organized under the Canada Business Corporation Act ("Cardio"), and
Ms. Patti Cooke, the sole record stockholder of Cardio. (Ms. Cooke holds the
Cardio shares as a nominee for undisclosed principals. She is also the President
and a director of the Issuer.) Under the Exchange Agreement, if specified
conditions are met, the Issuer will acquire all of the outstanding stock of
Cardio in exchange for 5,000,000 shares of the Issuer's common stock. The
Issuer's stock would be issued as "restricted securities " as such are defined
under the Securities Act of 1933. They would be issued in reliance upon the
exemption from registration under Section 5 of that Act provided in Section 4(2)
thereof or Regulation D adopted thereunder.

     Cardio was recently formed to provide funds to and acquire an investment in
Estracure, Inc., a Canadian corporation (Estracure"). Cardio has acquired 26 of
the 100 shares of Estracure presently outstanding for which it paid $2,500,000
(Canadian - which equated to $1,590,000 U.S. as of May 8, 2002). Estracure is
involved in the research, development and commercialization of the use of
"Estradiol" to reduce restenosis after angioplasty (see additional description
following). If the undergoing human clinical trails of Estradiol are deemed
successful, Cardio has the option to acquire sufficient additional shares of
Estracure to bring its ownership interest therein to 50% in exchange for
$7,500,000 Canadian ($5,058,339 U.S. as of March 14, 2003).

     The contractual arrangements between Cardio and Estracure provide that
Cardio may not, at any time, acquire more than 50% of the outstanding common
stock of Estracure (which prohibition is designed to protect valuable and
favorable Canadian Tax treatment for Estracure and its shareholders). If
DuraVest acquires the stock of Cardio it could be considered to be "investment
securities" as such are defined under the Investment Company Act of 1940 ("40
Act") and their ownership by Cardio as a wholly owned subsidiary of DuraVest
could cause DuraVest to become an unregistered inadvertent investment company
under the 40 Act. The parties to the Exchange Agreement have been advised that
the circumstances of the Cardio investment in Estracure are such that there is a
reasonable possibility that: (i) DuraVest could apply for and obtain a
"no-action" letter from the United States Securities and Exchange Commission
("SEC") under which the Cardio acquisition could be completed without causing a
violation of the 40 Act by DuraVest; or (ii) if DuraVest would acquire
sufficient additional assets so that the Estracure investment would be less than
40% of its total assets less cash items, DuraVest could obtain an opinion of
counsel that the completion of the Cardio acquisition would not cause a
violation of the 40 Act by DuraVest.

     Accordingly, the completion of the acquisition of Cardio by DuraVest is
conditioned upon the receipt of DuraVest of either:

     (i)  A "no-action" letter from the SEC that the completion of the Cardio
          acquisition with the resultant ownership by DuraVest of Cardio with
          its investment in Estracure (with Estracure now being a "majority
          owned subsidiary" of Cardio under the 40 Act) will not cause a
          violation of the 40 Act; or


                                       4
<PAGE>


     (ii) An opinion of counsel that the completion of the Cardio acquisition
          with the resultant ownership by DuraVest of Cardio with its investment
          in Estracure (with Estracure not being a "majority owned subsidiary"
          of Cardio under the 40 Act) will not cause a violation of the 40 Act.

DuraVest intends to pursue the satisfaction of either or both of these two
conditions or to amend the Cardio-Estracure arrangements to enable Cardio to
acquire more than 50% of Estracure. However, there is no assurance, it will be
able to satisfy either of the state requirements or to amend the
Cardio-Estracure arrangements.

     The only material assets of Cardio are its investment in Estracure and its
option to acquire additional stock in Estracure. Neither Cardio nor DuraVest
presently have the funds to finance the exercise of Cardio's options to acquire
additional Estracure stock. Accordingly, their ability to exercise this option
will be dependent upon their ability to raise additional capital. There is no
assurance that: (i) Estracure's human clinical trials of the Estradiol
treatments will be successful; (ii) Cardio or DuraVest will be able to raise
sufficient capital to exercise the option to acquire the additional Estracure
stock; or (iii) Estracure will be able to successfully develop and commercially
market Estradiol.

     The shareholders of Estracure, including Cardio, have entered into a
"Shareholders Agreement", the principal provisions of which are as follows:

     (i)  Cardio is entitled to nominate two of the five members of the Board of
          Directors;

     (ii) Subject to the option of Cardio to subscribe to additional shares in
          consideration of the sum of C$7,500,000, the shareholders of Estracure
          benefit from a preemptive right to subscribe, on a pro rata basis, to
          any additional shares issued to Estracure;

     (iii) A Shareholder of Estracure may only assign its shares therein in the
          following circumstances:

          -    The assignment is made to an affiliate, subsidiary, or holding
               company of said shareholder, provided, where such a shareholder
               is Cardio and the assignee is DuraVest, that as a result of such
               assignment, DuraVest must not be considered to have control of
               Estracure nor, in the opinion of Estracure, may it be in
               violation of the Investment Company Act of 1940 (US); or

          -    Such a shareholder has offered his shares to the other
               shareholders who are entitled to acquire same on a pro rata
               basis.

     (iv) In the event that one or more shareholders holding, in the aggregate,
          more than 50% of the issued and outstanding shares of Estracure which
          to assign their shares to a third party, the remaining shareholders
          may require that their shares be purchased on the same terms and
          conditions. Inversely, under the same circumstances, the shareholders
          controlling more than 50% of the issued and outstanding shares of
          Estracure may compel the remaining shareholders to sell to such a
          third party.

     (v)  A Shareholder shall be deemed to sell all of its shares in Estracure
          upon the occurrence of certain events, the following of which are
          applicable to Cardio:


                                       5
<PAGE>


          -    Change of control of Cardio except for its Acquisition by
               DuraVest without the unanimous consent of the other shareholders
               of Estracure;

          -    The seizure of a shareholder's shares in Estracure and such
               seizure is not or contested within 30 days thereof;

          -    The bankruptcy of a shareholder;

          -    Fraud by a shareholder;

          -    Criminal Act by a shareholder;

          -    The default of a shareholder in respecting anyone of its
               obligation under the terms of Shareholders Agreement in such
               default has not been remedied within a reasonable time; and

     (vi) Decisions in respect of a number of matters have been made subject to
          the consent of the shareholders, either by a 75% majority or by
          unanimous approval.

     Estracure's Estradiol project has been developed by a team of Canadian
medical researchers working under the auspices of the Montreal Heart Institute.
They began their research in 1997 to determine why arteriosclerosis and other
diseases creating indurations of the arteries occurred more frequently in men
than women. They focused their efforts on the potential role of naturally
occurring hormones unique to women in blocking the onset of arteriosclerosis or
other indurations of the arteries. After preliminary trials they focused their
efforts on a form of Estradiol (17-beta Estradiol), a female sex hormone of the
estrogen family. At this point their goal was to develop a product and treatment
which would reduce the recurrence of blockage following an angioplasty
procedure, a non-surgical interventional procedure using a tiny balloon to open
blocked arterial passages and the use of intravascular stents. The Estracure
treatment involves the application or injection of Estradiol during the
angioplasty procedure to impede the re-blocking of the arterial passage.

     The results of the research to date have been promising. The initial
theoretical studies have been followed by work in a more clinically relevant
model, the stent porcine coronary artery model, where there was a renewed
confirmation of restenosis as well as a lower inflammatory score.

     Estracure is now proceeding to set up human clinical trials of Estradiol.
Estracure inc. has received approval from Canadian health authorities to
initiate a Phase II clinical trial of 17-8-Estradiol in the prevention of
restenosis in patients following percutaneous transluminal coronary angioplasty
(PTCA) and stent implantation.

     The Phase II clinical trial which has just started will evaluate the safety
and efficacy of 17-8-Estradiol in patients having narrowing or constriction of
the coronary arteries caused by atherosclerotic disease. 17-8-Estradiol will be
locally administered in a minimally invasive fashion by bolus infusion during a
PTCA procedure. Contrary to other anti-restenosis drugs presently in clinical
evaluation, 17-8-Estradiol is a non-toxic naturally occurring hormone that has
been shown by Estracure's scientific team to have a dual beneficial effect in
improving vascular healing and preventing restenosis after angioplasty. Animal
studies have demonstrated that local delivery of 17-8-Estradiol significantly
decreases neointimal hyperplasia after PTCA without secondary effects.



                                       6
<PAGE>


     If the results of these trials are satisfactory, Estracure intends to
proceed with the research and development of Estradiol and take the necessary
actions to make it, including obtaining the necessary regulatory approvals.
Before Estracure can proceed beyond the human clinical trials, it will have to
acquire additional funding. If Cardio is not able to provide capital by
exercising its option, Estracure will have to pursue other sources not now known
to it.

     Except for the arrangements with Cardio, there are no present arrangements
for, or ongoing negotiations with respect to, all business combination with the
Issuer. The Issuer has no present knowledge of any other specific candidate for
a business combination. The management of DuraVest believes it will have to
acquire additional capital to continue its operations over the next 12 months.
If it acquires Cardio during that period and desires for Cardio to exercise its
option to purchase additional Estracure stock, DuraVest will have to obtain the
C$7,500,000 necessary for the option and additional capital to finance
DuraVest's operations. There are no present arrangements for the acquisition of
any additional capital or any assurance that such will be available.

     During 2001, the Issuer's President and its then Vice President were its
only paid employees. They received compensation in 2001 of $21,000. They were
not paid any compensation for service during 2002. In 2001 and 2002 they were
paid fees and/or reimbursed for expenses incurred in the performance of their
duties in. the amounts of $8,616 and $2,130 respectively. It is anticipated that
the Issuer's President and sole director will receive compensation and be
reimbursed for expenses incurred. The rate of compensation will be determined by
the Board of Directors in light of the Issuer's cash position and the services
performed. Through 2003 or until the Issuer enters into a business combination.
The Issuer's President and sole director will serve without compensation for her
services as such. It is not now possible to estimate what employees the Issuer
may have if it enters into a business combination during the year 2003.


Item 2.  Description of Property
------   -----------------------
(Item 7 of Model B of Form 1A)

     The Issuer has no materially important physical properties. Its only
material assets are its cash or cash equivalents (which were $16,016 at December
31, 2002) and a claim for a refund of $60,000 for an equipment deposit which has
been written off the Balance Sheet and which was settled for $20,000 in March of
2003.

     The Issuer's operations are conducted in leased premises located at 37
Prince Arthur Avenue, Suite 300, Toronto, Ontario, Canada M5R 1B2. They are
leased on a month-to-month basis at a monthly rate of approximately $260 per
month.


Item 3.  Directors, Executive Officers and Significant Employees.
------   -------------------------------------------------------
(Item 8 of Model B of Form 1A)

     The following table sets forth information regarding the sole directors and
executive officer of the Company.

                                                                 Beginning
      Name               Age          Positions                   of Term
      ----               ---          ---------                  ---------

      Patti Cooke        47      President and Director             3/98



                                       7
<PAGE>


     There are no family relationships among any of the directors and/or
executive officers of the Issuer. The Issuer does not have any significant
employee who is not also an executive officer.

     Patti Cooke has served as the President and a director of the Issuer since
March of 1998. From January of 1993 until February of 1996, Ms. Cooke was the
owner and President of Wellington Cooke Gallery, an art gallery in Toronto,
Ontario. Since February of 1996 she has been employed as the Secretary and
Administration Manager for Hatchment Holdings, Inc., a financial services
company in Toronto, Canada and principal shareholder of the Issuer. In November
of 2001, she became the sole officer and director of Hatchment Holdings, Inc.
Since March of 1995 she has served as a director of Sagewood Resources LTD, a
Toronto based public company in the oil and gas business.

     It is anticipated that the present officer and director will continue to
serve until the Issuer finds a new business opportunity. It is assumed that upon
completion of any such transaction, persons associated with the acquired
business or assets would become the Issuer's officers and directors.


Item 4.  Remuneration of Directors and Officers.
------   --------------------------------------
(Item 9 of Model B to Form 1A)

     During 2002, the Issuer paid an aggregate of $2,130 in remuneration to its
then two officers and directors in the form of fees and expenses reimbursement.

     During 2002, the Issuer's President and its then Vice President were its
only paid employees. Through 2003 or until the Issuer enters into a business
combination, it is anticipated that the President, Patti Cooke will be the only
paid employee of the Issuer. During that period its director will serve without
compensation for their services as such. She will be reimbursed for expenses
incurred in the performance of her duties. It is not now possible to estimate
what employees the Issuer may have if it enters into a business combination
during the year 2003.


Item 5   Security Ownership of Management and Certain Securityholders.
----------------------------------------------------------------------
(Item 10 to Model B of Form 1A)

     The following table sets forth information as of March 14, 2003 with
respect to the ownership of the Issuer's Common Stock by its officer and
director, and any shareholder owning more than 10% of the Issuer's Common Stock:





                                       8
<PAGE>


 Title          Name, Capacity and                     Number of         Percent
of Class         Address of Owner                    Shares Owned       of Class
--------        ------------------                   ------------       --------

Common Stock    Patti Cooke, Sole Officer,            5,070,000          13.80%
                  Director and Shareholder
                715 Millwood Road, #301
                Toronto, Ontario M4G 1V7
                Canada

Common Stock    Herne Financial Limited,              5,000,000          13.60%
                  Shareholder
                Boustead plc.
                1 Garrick House
                Carrington Street
                London  W1J 7AF

Common Stock    Hatchment Holdings, Ltd.,             5,000,000*         13.60%
                  Shareholder
                37 Prince Arthur Avenue, Suite 300
                Toronto, Ontario M5R 1B2
                Canada

------------------
*    Hatchment Holdings, Inc. is owned by a former officer and director; But
     Patti Cooke is Hatchment's sole officer and director and thus has voting
     power over these shares of the Company.


     There are no shares of the Issuer's Preferred Stock outstanding and there
are no outstanding options warrants or other rights to acquire shares of either
its Common or Preferred Stock; except for the right of the shareholder of Cardio
to receive 5,000,000 shares of the Issuer's common stock in the pending
conditional stock exchange. See Item 1. Description of Business. Above.


Item 6.  Interest of Management and Others in Certain Transactions.
------   ---------------------------------------------------------
(Item 11 to Model B of Form 1A)

     In August of 1999, Hatchment Holdings, Inc., a company wholly owned by
Bradley R. Wilson, an officer and director of the Issuer, purchased 10,000,000
shares of the Issuer's Common Stock for cash at $.0052 per share for a total of
$52,000 (these numbers are adjusted to reflect the November 9, 2001 10-for-one
forward stock-split). The shares were acquired by the purchaser for investment
and not with a view to distribution. They were issued as "restricted securities"
as defined under the Securities Act of 1933, as amended ("Securities Act"). They
were issued in reliance upon the exemption from the registration requirements of
Section 5 of the Securities Act provided in Section 4(2) of that statute.

     On November 2, 2001, Patti Cooke, President and director of the Issuer
became the sole officer and director of Hatchment Holdings, Inc., and thus, has
the power to vote the Issuer's shares held by Hatchment Holdings, Inc.



                                        9
<PAGE>


                                     PART II


Item 1.  Market Price of and Dividends on the Registrant's Common Equity and
-------  -------------------------------------------------------------------
         Other Related Shareholder Matters.
         ----------------------------------

     The Issuer's Common Stock was quoted on the OTC Bulletin Board under the
symbol DUVT from March of 1998 through September 30, 1999 and from September 15,
2000 through the present. To the knowledge of the Issuer there have been very
few trading transactions in its Common Stock

     The following table sets forth high and low bid prices of the Common Stock
on the OTC Bulletin Board for the periods indicated. The bid prices represent
prices between dealers, which do not indicate retail markups, markdowns or
commissions and the bid prices may not represent actual transactions:

     Quarter Ending:                                High       Low
     --------------                                 ----       ---

     January - March, 2001                           .10       .07
     April - June, 2001                              .06       .02
     July - September, 2001                          .80       .11
     October - December, 2001                       2.00       .78
     January - March, 2002                          2.90       .90
     April - June, 2002                             3.75       .82
     July - September, 2002                         1.08       .89
     October - December, 2002                       1.25       .83

     The number of record holders of Common Stock of the Issuer at March 14,
2003 was 45. Additional owners of the Common stock hold their shares at street
name with various brokerage and depository firms (there are five such firms
included in the list of record owners).

     The holders of Common Stock are entitled to receive dividends as may be
declared by the Board of Directors out of funds legally available; and after
payment of adequate provisions for payment of any preferential dividends due on
any then outstanding Preferred Stock. The Issuer had never had any material
earnings and does not presently have any capability to generate any such
earnings. The Issuer has never declared any dividend. It does not anticipate
declaring and paying any cash dividend in the foreseeable future.


Item 2.  Legal Proceedings.
------   -----------------

     Neither the Issuer nor any of its property is a party or subject to any
pending legal proceeding. The Issuer is not aware of any contemplated or
threatened legal proceeding against it by any governmental authority or other
party.

     As set forth in Item 1 of Part 1 above, the Issuer is in the process of
attempting to recover the $60,000 balance of a $100,000 cash deposit which was
placed on a proposed purchase of equipment which was terminated. The Issuer and
the deposit holder reached a settlement agreement on April 14, 2000 under which
the holder agreed to repay the deposit in five monthly installments of $20,000
each. The Issuer received two payments of $20,000 under the agreement and has
settled the balance for an additional payment of $20,000 received in March of
2003.


                                       10
<PAGE>


Item 3.  Changes in and Disagreements with Accountants.
------   ---------------------------------------------

     No principal independent accountant of the Issuer or any subsidiary thereof
has ever resigned, been dismissed or declined to stand for re-election.


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

     No matters were submitted during the calendar quarter ending December 31,
2002 to a vote of securities holders through the solicitation of proxies or
otherwise.


Item 5.  Compliance with Section 16(a) of the Exchange Act.
-------  --------------------------------------------------

     On Match 27, 2003, a shareholder and a former officer and director filed
late or amended ownership reports under Section 16(a) of the Securities Exchange
Act as Follows:

     Filing Person or Entity                         Report
     -----------------------                         ------

     Hatchment Holdings, Inc.              Form 3 for November, 1999

     Bradley Ross Wilson                   Amended Form 3 for November, 1999

     Hatchment Holdings, Inc.              Form 4 for February, 2003


Item 6.  Reports on Form 8-K.
------   --------------------

     The Issuer was not required to file any reports on Form 8-K for the
calendar quarter ended December 31, 2002.



                                       11
<PAGE>




                                    PART III

1.   Index to Exhibits

     Exhibit No.    Description of Exhibits
     -----------    -----------------------

     2(a)           Issuer's Amended and Restated Articles of Incorporation -
                    Exhibit 2(a) to the Issuer's Registration Statement on Form
                    10-SB is hereby incorporated herein by this reference.

     2(b)           Issuer's Bylaws - Exhibit 2(a) to the Issuer's Registration
                    Statement on Form 10-SB is hereby incorporated herein by
                    this reference.

     12(a)          Form of Subscription Agreement for Rule 504 Offering -
                    Exhibit 2(a) to the Issuer's Registration Statement on Form
                    10-SB is hereby incorporated herein by this reference.


     12(b)          Form of Subscriber Questionnaire for Rule 504 Offering -
                    Exhibit 2(a) to the Issuer's Registration Statement on Form
                    10-SB is hereby incorporated herein by this reference.


     12(c)          Investment Letter for Sale of Restricted Securities -
                    Exhibit 2(a) to the Issuer's Registration Statement on Form
                    10-SB is hereby incorporated herein by this reference.

     99.1            Accounting Certifications







                                       12
<PAGE>


                                   SIGNATURES

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

                                  DURAVEST, INC.

Dated:  March 27, 2003             By: /s/ Patti Cooke
                                      ---------------
                                      Patti Cooke, President and Principal
                                      Executive, Accounting Officer and sole
                                      Director



     Supplemental information to be furnished With Reports Filed Pursuant to
           Section 15(d) Of the Exchange Act by Non-reporting Issuers


     No annual report,  proxy  statement,  proxy form or other proxy  soliciting
material  was sent to the  Issuer's  securities  holders  for or during the year
2002;  nor is any such  material to be sent to them  subsequent to the filing of
this Form 10-KSB.




                                 CERTIFICATIONS

I, Patti Cooke, certify that:

1.   I have reviewed this annual report on Form 10-KSB of Duravest, Inc.;

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

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

4. The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

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

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

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

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation, to the registrant's auditors and the audit committee of
registrant's board of directors (or persons performing the equivalent
functions):

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


                                       13
<PAGE>


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

6. The registrant's other certifying officers and I have indicated in this
Annual Report whether there were significant changes in internal controls or in
other factors that could significantly affect internal controls subsequent to
the date of our most recent evaluation, including any corrective actions with
regard to significant deficiencies and material weaknesses.

Date: March 27, 2003
                                             /s/ Patti Cooke
                                             -----------------------------------
                                             Patti Cooke
                                             President and Principal Executive,
                                             Financial and Accounting Officer












                                       14
<PAGE>



                                    PART F/S


                                 Duravest, Inc.
               (formerly Great Wall Food and Beverage Corporation)



                                      Index
                                      -----


                                                                            Page
                                                                             No.
                                                                            ----

INDEPENDENT AUDITORS' REPORT                                                F-2

BALANCE SHEETS                                                              F-3

STATEMENTS OF OPERATIONS                                                    F-4

STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY                                F-5

STATEMENTS OF CASH FLOWS                                                    F-6

NOTES TO THE FINANCIAL STATEMENTS                                           F-7




                                      F-1
<PAGE>




                             BARRY I. HECHTMAN, P.A.
                           Certified Public Accountant

                                    Member of
                     Florida and American Institute of CPAs
                  Private Comapnies and Sec Practice Sections


8100 SW 81 Drive                                       Telephone: (305) 270-0014
Suite 210                                                    Fax: (305) 598-3695
Miami Florida, 33143-6603                            email: barrycpa@netzero.net



REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS


To the Board of Directors of
Duravest, Inc.

We have audited the accompanying balance sheet of Duravest,  Inc. (a development
stage  company)  as  of  December  31,  2002,  and  the  related  statements  of
operations,  stockholders'  deficit and cash flows for the years ended  December
31, 2002 and 2001 and August 5, 1980  (inception)  to December 31,  2002.  These
financial  statements are the  responsibility of the Company's  management.  Our
responsibility  is to express an opinion on these financial  statements based on
our audit.

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

In our opinion,  the financial  statements  referred to above present fairly, in
all material respects,  the financial position of Duravest,  Inc. as of December
31, 2002 and 2001 and for the period August 5, 1980  (inception) to December 31,
2002, and the results their operations and cash flows for the periods then ended
in conformity with accounting principles generally accepted in the United States
of America.

The  accompanying  financial  statements  have been  prepared  assuming that the
Company  will  continue  as a  going  concern.  As  discussed  in  Note 1 to the
financial statements, the Company has operated at a loss since inception and has
an excess of  liabilities  over  assets that raise  substantial  doubt about its
ability to continue as a going  concern.  Management's  plans in regard to these
matters are also  described in Note 1. The  financial  statements do not include
any adjustments that might result from the outcome of this uncertainty.


                                        /s/ Barry I. Hechtman, P.A.
Miami, Florida                          Certified Public Accountants
March 15, 2003





                                      F-2
<PAGE>


                                 Duravest, Inc.

                                  Balance Sheet



December 31,                                                             2002
--------------------------------------------------------------------------------

Assets
   Cash                                                            $    16,016
                                                                   -----------
                                                                   $    16,016
                                                                   ===========

Liabilities and Stockholders' Deficit

Liabilities:
   Accounts payable                                                $     3,221
   Accrued interest                                                        130
   Note payable - related company                                       25,000
                                                                   -----------
Total liabilities                                                       28,351

Commitments and Contingencies

Stockholders' Deficit

Preferred stock, $0.001 par value, 20,000,000 shares
  authorized, 0 shares issued and outstanding
Common stock, $0.001 par value; 80,000,000 shares
  authorized; 36,766,640 shares issued and outstanding                   3,680
Additional paid-in capital                                             448,820
Deficit accumulated during the development stage                      (464,835)
                                                                   -----------

Stockholders' deficit, net                                             (12,335)
                                                                   -----------
                                                                   $    16,016
                                                                   ===========

        See accompanying summary of significant accounting policies and
                         notes to financial statements.







                                      F-3
<PAGE>
<TABLE>
<CAPTION>
                                                   Duravest, Inc.

                                              Statements of Operations


                                                                                                                       From
                                                                                For the              For the        Aug. 5, 1980
                                                                               year ended          year ended        (inception)
                                                                                Dec. 31,            Dec. 31,        to Dec. 31,
                                                                                  2002                2001              2002
                                                                              ------------         -----------      ------------

<S>                                                                           <C>                  <C>               <C>
Development stage expenses:
     Selling, general and administrative                                      $   88,452           $   63,751        $  463,703
                                                                              ----------           ----------        ----------

Total development stage expenses                                                  88,452               63,751           463,703
                                                                              ----------           ----------        ----------
Loss from operations                                                             (88,452)             (63,751)         (463,703)

Other Expenses
     Interest expense                                                                130                                    130
     Translation loss                                                                342                  186             1,002
                                                                              ----------           ----------        ----------

Net loss                                                                      $  (46,114)          $  (63,992)       $ (464,835)
                                                                              ==========           ==========        ==========

Net loss per common share, basic and diluted                                  $     (.00)          $     (.00)
                                                                              ==========           ==========

Weighted average number of common shares outstanding                          36,766,640           36,766,640
                                                                              ==========           ==========






             See accompanying summary of significant accounting policies and notes to financial statements.
</TABLE>




                                                         F-4

<PAGE>
<TABLE>
<CAPTION>


                                                 Duravest, Inc.

                                    Statement of Stockholders' Equity (Deficit)


                                                                                                         Deficit
                                                                                                       Accumulated
                                                                    Common Stock         Additional     During the     Stockholders'
                                                            ------------------------      Paid-In      Development        Equity
                                                              Shares         Amount       Capital         Stage          (Deficit)
                                                            ----------    ---------     -----------    ------------   -------------

 <S>                                                        <C>           <C>            <C>             <C>            <C>
 Common stock issued for cash (08/05/1980)                     100,000    $    100       $    400        $              $     500

 Net loss 1994                                                                                                (500)          (500)
                                                            ----------    --------       --------        ---------      ---------
 Balance December 31, 1994                                     100,000         100            400             (500)
 1995 no activity
 Net loss 1996                                                                                                (550)          (550)
                                                            ----------    --------       --------        ---------      ---------
 Balance December 31, 1996                                     100,000         100            400           (1,050)          (550)
 Net loss 1997                                                                                                (750)          (750)
                                                            ----------    --------       --------        ---------      ---------
 Balance December 31, 1997                                     100,000         100            400           (1,800)        (1,300)
 1998 common stock issued in connection
    with 504 offering                                       26,666,640         267        399,733                         400,000
 Net loss 1998                                                                                            (182,983)      (182,983)
                                                            ----------    --------       --------        ---------      ---------
 Balance December 31, 1998                                  26,766,640         268        400,232         (184,783)       215,717
 1999 restricted common stock issued
    in exempt transaction                                   10,000,000         100         51,900                          52,000
 Net loss 1999                                                                                             (48,894)       (48,894)
                                                            ----------    --------       --------        ---------      ---------
 Balance December 31, 1999                                  36,766,640         368        452,132         (233,677)       218,823
 Net loss 2000                                                                                            (121,052)      (121,052)
                                                            ----------    --------       --------        ---------      ---------
 Balance December 31, 2000                                  36,766,640         368        452,132         (354,729)        97,771
 Net loss 2001                                                                                             (63,992)       (63,992)
                                                            ----------    --------       --------        ---------      ---------
 Balance at December 31, 2001                               36,766,640       3,680        448,820         (418,721)        33,779
 Net loss 2001                                                                                             (46,114)       (46,114)
                                                            ----------    --------       --------        ---------      ---------

 Balance at December 31, 2002                               36,766,640    $  3,680       $448,820        $(464,835)     $ (12,335)
                                                            ==========    ========       ========        =========      =========


             See accompanying summary of significant accounting policies and notes to financial statements.

</TABLE>


                                                         F-5

<PAGE>
<TABLE>
<CAPTION>
                                                        Duravest, Inc.

                                                   Statements of Cash Flows


                                                                                                                       From
                                                                                For the              For the        Aug. 5, 1980
                                                                               year ended          year ended        (inception)
                                                                                Dec. 31,            Dec. 31,        to Dec. 31,
                                                                                  2002                2001              2002
                                                                              ------------         -----------      ------------

<S>                                                                            <C>                  <C>               <C>
Operating activities:
   Net loss                                                                     $(46,114)           $(63,992)         $(464,835)

   Adjustments to reconcile net loss to net cash used in
     operating activities:
   Change in assets and liabilities:
         Accounts payable and accrued expenses                                    (3,415)              5,966              3,351
                                                                                --------            --------          ---------

Net cash used in operating activities                                            (49,529)            (20,252)          (461,484)
                                                                                --------            --------          ---------

Financing activities:
   Proceeds from issuance of debt  to related company                             25,000                                 25,000
   Proceeds from loans from shareholder                                                                                   2,100
   Repayment of debt  to shareholder                                                                  (2,093)            (2,100)
   Proceeds from issuance of common stock                                                                               452,500
                                                                                --------            --------          ---------

Net cash provided by financing activities                                         25,000              (2,093)           477,500
                                                                                --------            --------          ---------

Net increase (decrease) in cash and cash equivalents                             (24,529)            (58,026)            16,016

Cash and equivalents, beginning of year                                           40,545              98,571                  0
                                                                                --------            --------          ---------

Cash and equivalents, end of year                                               $ 16,016            $ 40,545          $  16,016
                                                                                ========            ========          =========


             See accompanying summary of significant accounting policies and notes to financial statements.

</TABLE>


                                                         F-6


<PAGE>


                                 DURAVEST, INC.

                   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES



NATURE OF OPERATIONS
--------------------

Duravest, Inc. (the "Company") was incorporated on August 5, 1980 under the laws
of the State of Florida as Ronnie Interior Designs, Inc. for the purpose of
merging with or acquiring another company.

On October 14, 1997, Ronnie Interior Designs, Inc. changed its name to Ronnie
Systems, Inc.

On March 13, 1998, the Company amended and restated its articles of
incorporation and changed its name to Great Wall Food and Beverage Corporation.

On November 9, 2001, the Company amended and restated its articles of
incorporation and changed its name to Duravest, Inc.

The Company has been operating as a development stage enterprise since its
inception and is devoting substantially all its efforts to the ongoing
development of the Company (see Note 1).


CASH AND CASH EQUIVALENTS
-------------------------

The Company considers all highly liquid investments with a maturity of three
months or less when purchased to be cash equivalents.


FAIR VALUE OF FINANCIAL INSTRUMENTS
-----------------------------------

The carrying amounts of the Company's financial assets, including cash and cash
equivalents, accounts payable and loans payable to related company approximate
fair value because of their short maturities.


USE OF ESTIMATES
----------------

The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the 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.


ADVERTISING
-----------

The Company conducts nondirect response advertising for the promotion of its
products. These costs are expensed as incurred. Advertising costs for the
periods ended December 31, 2002 and 2001 were $910 and $0 respectively.


                                      F-7
<PAGE>


                                 DURAVEST, INC.

                   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES


INCOME TAXES
------------

The Company accounts for income taxes pursuant to the provisions of Statement of
Financial Accounting Standards (SFAS) No. 109, "Accounting for Income Taxes,"
which requires, among other things, a liability approach to calculating deferred
income taxes. The asset and liability approach requires the recognition of
deferred tax liabilities and assets for the expected future tax consequences of
temporary differences between the carrying amounts and the tax bases of assets
and liabilities.


FOREIGN CURRENCY TRANSLATION
----------------------------

During 1999 the Company opened a bank account denominated in a foreign currency
which is used to pay for some operational expenses. The bank account is
translated using rates of exchange at December 31, 2002 and 2001; expenses are
translated at weighted average exchange rates in effect during the year. The
cumulative effect resulting from such translation is recorded as remeasurement
gain or loss in the financial statements.


LOSS PER SHARE
---------------

Basic loss per share is computed on the basis of the weighted average number of
common shares outstanding during each year. Diluted loss per share is computed
on the basis of the weighted average number of common shares and dilutive
securities outstanding. Dilutive securities having an antidilutive effect on
diluted loss per share are excluded from the calculation.


NEW ACCOUNTING PRONOUNCEMENTS
-----------------------------

In June 2001, the FASB issued SFAS No. 143, "Accounting for Asset Retirement
Obligations." SFAS No. 143, which addresses accounting and reporting for
obligations associated with the retirement of tangible long-lived assets and the
associated asset retirement costs is effective for fiscal years beginning after
June 15, 2002. We do not expect the adoption of this new standard to have a
material impact on our results of operations or financial position.

In July 2001, the FASB issued SFAS No. 144, "Impairment or Disposal of
Long-Lived Assets," which is effective for fiscal years beginning after December
31, 2001. The provisions of this statement provide a single accounting model for
impairment of long-lived assets. We do not expect the adoption of this new
standard to have a material impact on our results of operations or financial
position.

In April 2002, the FASB issued SFAS No. 145, "Rescission of FASB Statements No.
4, 44 and 64, Amendment of FASB Statement No. 13, and Technical Corrections,"
which is effective for fiscal years beginning after May 15, 2002. This statement


                                      F-8
<PAGE>



                                 DURAVEST, INC.

                   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES


rescinds the indicated statements and amends other existing authoritative
pronouncements to make various technical corrections, clarify meanings, or
describe their applicability under changed conditions. SFAS No. 145 encourages
early adoption of the provision of this standard that rescinds SFAS No.4,
"Reporting Gains and Losses from Extinguishments of Debt." We do not expect the
adoption of this new standard to have a material impact on our results of
operations or financial position.

In July 2002, the FASB issued SFAS No. 146, "Accounting for Costs Associated
with Exit or Disposal Activities," which is effective for exit or disposal
activities that are initiated after December 31, 2002. This statement nullifies
Emerging Issues Task Force Issue No. 94-3, "Liability Recognition for Certain
Employee Termination Benefits and Other Costs to Exit an Activity (including
Certain Costs Incurred in a Restructuring)." This statement requires that
liabilities associated with exit or disposal activities initiated after adoption
be recognized and measured at fair value when incurred as opposed to at the date
an entity commits to the exit or disposal plans. We do not expect the adoption
of this new standard to have a material impact on our results of operations or
financial position.









                                      F-9
<PAGE>


                                 DURAVEST, INC.

                          NOTES TO FINANCIAL STATEMENTS


1.   GOING CONCERN
     -------------

     The accompanying financial statements were prepared assuming that the
     Company will continue as a going concern. This basis of accounting
     contemplates the realization of assets and the satisfaction of its
     liabilities in the normal course of operations. Since inception the Company
     has incurred losses of approximately $465,000, which raise substantial
     doubt about the Company's ability to continue as a going concern.

     The Company's continued existence is dependent upon its ability to resolve
     its liquidity problems, principally by obtaining additional debt financing
     and equity capital. The Company has no material income producing operations
     or assets. Unless the Company is successful in its efforts to enter into a
     business combination or acquisition of assets resulting in operation
     income, the Company's assets will be depleted.

     The financial statements do not include any adjustments to reflect the
     possible future effects on the recoverability and classification of assets
     or the amounts and classification of liabilities that may result from the
     possible inability of the Company to continue as a going concern.

     Accordingly, there are no assurances that the Company will be successful in
     achieving the above plans, or that such plans, if consummated, will enable
     the Company to obtain profitable operations or continue as a going concern.



2.   COMMON STOCK
     ------------

     In November, 2001 the Board of Directors authorized a stock split so that
     each one share of common stock outstanding became tn shares of common stock
     outstanding. Prior to the split 80,000,000 shares were authorized,
     3,676,664 common shares were issued and outstanding. Subsequent to the
     stock split 80,000,000 common shares were authorized and 36,766,640 shares
     were issued and outstanding. All share and per share information included
     in the financial statements and the related notes has been restated to
     reflect the stock split




                                      F-10
<PAGE>


                                 DURAVEST, INC.

                          NOTES TO FINANCIAL STATEMENTS


     The following reconciles the components of the loss per share computation:


<TABLE>
<CAPTION>

     For the year ended December 31,
                                                2002                                   2001
                               -------------------------------------   -------------------------------------
                                  Income       Shares      Per-Share     Income        Shares      Per-Share
                               (Numerator)  (Denominator)    Amount    (Numerator)  (Denominator)    Amount
                               -----------  -------------  ---------   -----------  -------------  ---------
     <S>                        <C>           <C>            <C>        <C>           <C>            <C>

     Loss per common share
       Net (loss)
       available to
       common
       shareholders             $(46,114)     36,766,640     $(0.00)    $(63,992)     36,766,640     $(0.00)
                                --------      ----------     ------     --------      ----------     ------

       Net (loss) available
       to common shareholders
       plus assumed
       assumed conversions      $(46,114)     36,766,640     $(0.00)    $(63,992)     36,766,640     $ (0.00)
                                ========      ==========     ======     ========      ==========     =======
</TABLE>


3.   INCOME TAXES
     ------------

     Deferred income taxes reflect the net tax effects of temporary differences
     between the carrying amounts of assets and liabilities for financial
     reporting purposes and the amounts used for income tax purposes. At
     December 31, 2002, the Company had federal net operating losses (NOL) of
     approximately $488,077. The NOL expires in the years 2018 through 2022. In
     the event that a change in ownership of the Company of greater than 50
     percent occurs/occurred as a result of the Company's issuance of common and
     preferred stock, the utilization of the NOL carryforward will be subject to
     limitation under certain provisions of the Internal Revenue Code.

     Realization of any portion of the approximate $165,946 deferred federal tax
     asset at December 31, 2002 is not considered more likely than not by
     management; accordingly, a valuation allowance has been established for the
     full amount of such asset.

     The reconciliation of income tax benefit computed at the United States
     federal tax rate of 34% to income tax benefit is as follows:

     December 31,                                2002              2001
     ------------                             ---------         --------

     Tax benefit at the United States
     statutory rate                           $ 15,679          $ 21,757
     State income tax benefit, net                 784             1,088
     Valuation allowance  adjustment           (15,679)          (22,845)
                                              --------          --------

     Income tax benefit                       $      -          $      -
                                              ========          ========



                                      F-11
<PAGE>


                                 DURAVEST, INC.

                          NOTES TO FINANCIAL STATEMENTS


     Significant components of the Company's deferred tax assets and liabilities
     are as follows:


     December 31,                                2002              2001
     ------------                             ----------        -----------

     Deferred tax assets:
         Net operating loss
     carryforwards                            $ 165,946         $  149,483
     Valuation allowance for deferred
         tax assets                            (165,946)          (149,483)
                                              ---------         ----------

     Net deferred tax asset                   $       -         $        -
                                              =========         ==========


4.   RELATED PARTY TRANSACTIONS
     --------------------------

     Consulting Services
     -------------------

     Fees totaling $2,130 and $13,116 have been paid to officers and companies
     owned by shareholders during the periods ended December 31, 2002 and 2001
     for administrative fees, consulting services rendered and, expenses paid on
     behalf of the Company. The officers and directors of the Company are
     involved in other business activities and may, in the future, become
     involved in other business opportunities.

     Note Payable
     ------------

     On December 15, 2002 the Board of Directors authorized the Company to
     borrow $25,000 from Wellington-Cooke Gallery, Ltd, a related company. The
     note is unsecured, bears an interest rate of 10% per annum, with the
     interest and principle payable on demand.


5.   COMMITMENT AND CONTINGENCIES
     ----------------------------

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

     The Company conducts its operations from leased facilities, under operating
     leases on a month-to-month basis, which can be terminated by either party
     upon giving notice 30 days in advance.

     Lease rent expense for the periods ended December 31, 2002 and 2001
     amounted to $1,468 and $0. At December 31, 2002, future minimum lease
     payments and rent usage tax were $0.

     Note Receivable
     ---------------

     The Company is owed $60,000 under a deposit refund agreement entered into
     in April, 2000. Management has fully allowanced the receivable as the
     debtor has defaulted on the repayment schedule.



                                      F-12
<PAGE>


                                 DURAVEST, INC.

                          NOTES TO FINANCIAL STATEMENTS


6.   SUPPLEMENTAL CASH FLOW INFORMATION
     ----------------------------------

     Supplemental disclosure is as follows:

     December 31,                               2002              2001
     ------------                           -----------        -----------

     Cash paid for interest                   $      -           $     -
     Cash paid for taxes                             -                 -


7.   CONDITIONAL ACQUISITION AGREEMENT
     ---------------------------------

     On April 4, 2002 the Company entered into a conditional stock exchange
     agreement with Cardio Management Systems, Inc.("Cardio"), a corporation
     organized under the Canadian Business Corporation Act. Under the agreement,
     if certain conditions are met, the Company will issue 5,000,000 shares of
     its common stock in exchange for 1,000,000 shares of Cardio stock and as a
     result Cardio will become a wholly owned subsidiary. The principal assets
     of Cardio are shares of common stock of Estracure, Inc. ("Estracure"), a
     corporation organized under the Canadian Business Corporation Act and an
     optional right to acquire additional shares of Estracure common stock, at
     no time to exceed 50% ownership of Estracure outstanding common stock. If
     the stock exchange is completed the stock of Estracure owned by Cardio
     could be considered to be "investment securities" as such are defined by
     the Investment Company Act of 1940 ("40 Act"). The condition precedent to
     the completion of the stock exchange shall be the receipt by Duravest, Inc.
     of either (1) a "no-action" letter from the SEC that the completion of the
     stock exchange with the resultant ownership by Duravest, Inc. of Cardio
     with its investment in Estracure (with Estracure not being a "majority
     owned subsidiary" of Cardio under the 40 Act) will not cause a violation of
     the 40 Act; or (2) an opinion of counsel that the completion of the stock
     exchange with the resultant ownership by Duravest, Inc. of Cardio with its
     investment in Estracure (with Estracure not being a "majority owned
     subsidiary" of Cardio under the 40 Act) will not cause a violation of the
     40 Act. Duravest, Inc. intends to pursue the satisfaction of either or both
     of these two conditions. However, there is no assurance that it will be
     able to satisfy either of them.




                                      F-13