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, 2000.
/ /  Securities   Exchange   Act  of  1934  for  the   transition   period  from
     ___________________ to ________________________.

Commission file number 0-27489

                    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)

1543 Bayview Avenue, Suite 409, Toronto, Ontario, Canada                M4G3B5
      (Address of Principal Executive Offices)                        (Zip Code)

                                 (416) 489-5490
                            Issuer's Telephone Number

Securities to be registered pursuant to Section 12(b) of the Act:
         (Title of class)                   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 is not contained in this form, and no disclosure will be
contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in part III of this Form 10-KSB
or any amendment to this Form 10-KSB. [X]

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 February 27, 2001 (valued at the average of the bid and asked prices as of
that date) was $556,416.00

The Issuer has never been involved in bankruptcy proceedings.

The number of shares outstanding of the Issuer's common stock as of February 27,
2001 was 3,676,664.

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, Great Wall Food and Beverage Corporation, 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 NOT PRESENT ARRANGEMENTS FOR A BUSINESS COMBINATION OR ASSET
ACQUISITION. The Issuer has no present arrangements for, or ongoing negotiations
with respect to any business combination or asset acquisition. Unless the Issuer
can enter into such an arrangement it will have to acquire additional capital or
cease operations.

     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.

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.

     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). Ms. Patti Cooke,
President and a director of the Issuer, became its then sole officer and
director.

     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 Changzhou 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.

                                       1
<PAGE>


     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
is in the process of instituting collection proceedings on the balance of
$60,000.

     In August of 1999, Hatchment Holdings, Ltd., a company wholly owned by
Bradley R. Wilson, an officer and director of the Issuer, purchased 1,000,000
shares of the Issuer's Common Stock for cash at $.05 per share for a total of
$50,000. As of December 31, 1999, this $50,000 in additional capital,
approximately $70,000 in remaining proceeds from the Rule 504 offering and the
claim for the refund of the $100,000 deposit are the only material assets of the
Issuer. At that date it had no material liabilities.

     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.

     These are no present arrangements for, or ongoing negotiations with respect
to, such a business combination with the Issuer. The Issuer has no present
knowledge of any specific candidate for a business combination. Issuer's
management believes that it has sufficient funds to pursue its search for a
potential business combination for at least the period through 2001. It is not
presently possible to predict if any business combination entered into by the
Issuer during that period will require the raising of additional capital.

     During 2000, the Issuer's President and Vice President were its only paid
employees. They received compensation in 2000 of $10,000 and $21,000
respectively. Commencing in January 1, 2001 their compensation for the year will
be $2,000 per month each. These salaries may be paid or accrued in whole or in
part, depending upon the cash availability of the Issuer. Through 2001 or until
the Issuer enters into a business combination, it is anticipated that they will
be the only paid employees of the Issuer. During that period its directors will
serve without compensation for their services as such. They will be reimbursed
for expenses incurred in the performance of their duties. It is not now possible
to estimate what employees the Issuer may have if it enters into a business
combination during the year 2001.

                                       2
<PAGE>


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 $166,689 at
December 31, 2000) and its claim for a refund of $60,000 for an equipment
deposit. See Item 1. above and the Financial Statements herein.

     The Issuer's present operations are conducted at the residence office of
its President and through the use of a mail drop at 1543 Bayview Avenue, Suite
409, Toronto, Ontario, Canada M4G3B5. The Issuer's President has not previously
and will not in the future charge the Issuer for its use of these facilities.

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

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

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

    Patti Cooke             45       President and Director            3/98

    Bradley R. Wilson       42       Vice President, Secretary,        8/99
                                     And Director

     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, Ltd., a financial services
company in Toronto, Canada and principal shareholder of the Issuer. 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. Ms. Cooke has served as the
Secretary of Inet Commerce Conduit Corporation, a Florida corporation engaged in
the business of providing advice and sales and promotional services to retailers
of cosmetic products since January of 1998. Since March of 1999, she has served
as a director and the Secretary of Noble Brands, Inc., an inactive Florida
corporation formerly engaged in the cigar manufacturing and distribution
business.

     Bradley R. Wilson became an officer and director of the Issuer in August of
1999. Since 1990, he has been the President, a director and the sole shareholder
of Hatchment Holdings, Inc., a Toronto based financial services company. He has
served as the president and a director of Sagewood Resources, Ltd., a Toronto
based public company in the oil and gas business, since March of 1995. He has
been a director of Empire Alliance Properties, Inc., a Toronto based public
company in the real estate business, since February, 1998. From September of
1986 to January of 1990, Mr. Wilson was employed as a real estate broker for
William Allan Real Estate Company. Limited in Toronto, Ontario. His work there
was concentrated in the commercial real estate area. From 1982 to 1986, Mr.
Wilson worked as a registered stockbroker with E.A. Manning, Limited in Toronto,
Ontario. Upon leaving his position at E.A. Manning, Limited, Mr. Wilson allowed
his securities license to lapse to enable him to become a registered real estate
representative with Empire Alliance Properties, Inc. Since January of 1998, Mr.
Wilson has served as president and a director of Inet Commerce Conduit
Corporation, a Florida corporation engaged in the business of providing advice
and sales and promotional services to retailers of cosmetic products. Since
March of 1999, he has served as a director of Noble Brands, Inc., an inactive
Florida corporation formerly engaged in the cigar manufacturing and distribution
business.

                                       3
<PAGE>


     It is anticipated that the present officers and directors 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)

     Information with respect to the only remuneration paid to any of the
officers and directors of the Issuer during 2000 is as follows:

2000         Patti Cooke               Salary            $10,000.00

2000         Bradley R. Wilson         Salary            $21,000.00
                                                         ----------

             Total                                       $31,000.00


     In addition, the Issuer paid cellular telephone charges for mobile
telephones used by one of its officers and directors during the year 2000 as
follows:


     Period                Name of Individual          Telephone Charges (1)
     ------                ------------------          ---------------------

     2000                  Bradley R. Wilson                $1,072.00

     Total 2000                                             $1,072.00
                                                            =========

(1)  It is estimated that approximately 90% of these charges were for calls on
     the Issuer's business. Accordingly, approximately $100.00 of the total paid
     of $1,072.00 could be deemed to be compensation to the named officer and
     director.

     During 2000, the Issuer's President and Vice President were its only paid
employees. They received compensation in 2000 of $10,000 and $21,000
respectively. Commencing in January 1, 2001 their compensation for the year will
be $2,000 per month each. These salaries may be paid o accrued in whole or in
part, depending upon the cash availability of the Issuer. Through 2001 or until
the Issuer enters into a business combination, it is anticipated that they will
be the only paid employees of the Issuer. During that period its directors will
serve without compensation for their services as such. They will be reimbursed
for expenses incurred in the performance of their duties. It is not now possible
to estimate what employees the Issuer may have if it enters into a business
combination during the year 2001.


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 February 27, 2001 with
respect to the ownership of the Issuer's Common Stock by each of its officers
and directors, its officers and directors as a group and any shareholder owning
more than 10% of the Issuer's Common Stock:

                                       4

<PAGE>


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

Common Stock    Patti Cooke                       7,000               .2%
                715 Millwood Road, #301
                Toronto, Ontario M4G1V7
                Canada

Common Stock    Bradley R. Wilson (1)         1,000,000             27.0%(1)
                615 Merton street
                Toronto, Ontario
                Canada

(1)  These shares are held of record by Hatchment Holdings, Inc., an Ontario
     corporation wholly owned by Mr. Wilson.

     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.

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 1,000,000
shares of the Issuer's Common Stock for cash at $.05 per share for a total of
$50,000. 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.

     In 1998, the Issuer became obligated for an advisory and consulting fee of
$40,000.00 to Hatchment Holdings, Inc. This fee was paid for services rendered
in connection with the reorganization of the Issuer and the proposed transaction
with the Chinese venture. (see Item 1 above). At the time the services were
rendered, Mr. Wilson, the owner of Hatchment Holdings, Inc., was not an officer,
director or principal shareholder of the Issuer. The Issuer paid $20,000.00 of
the fee in 1998 and $20,000.00 in 1999.



                                       5
<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 GWFB 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, 1999                      6 3/8             61/4
     April - June, 1999                         6 7/8             6 1/8
     July - September, 1999                     6 1/8             6 1/8
     October - December, 1999                   6 23/32           6 3/8
     January - March, 2000                       ---                ---
     April - June, 2000                          ---                ---
     July - September, 2000                      1/2                1/4
     October - December, 2000                    1/4                1/4

     The number of record holders of Common Stock of the Issuer at February 27,
2001 was 51. 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 has received two payments of $20,000 under the agreement which
is now in default. The Issuer is in the process of instituting collection
proceedings to recover the $60,000 balance of the deposit.

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.


                                       6

<PAGE>


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

     No matters were submitted during the calendar quarter ending December 31,
2000 to a vote of securities holders through the solicitation of proxies or
otherwise.


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

     There were no reports required to be filed by the officers, directors or
shareholders of the Issuer under Section 169a) of the Securities Exchange Act of
1934 during 2000.


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, 2000.





















                                       7
<PAGE>

                                    PART F/S


                    GREAT WALL FOOD AND BEVERAGE CORPORATION

                              FINANCIAL STATEMENTS


                               TABLE OF CONTENTS

                                                                           Page
                                                                           ----
For the Year Ended December 31, 2000:
-------------------------------------

     Independent Auditor's Report.......................................   F-2

     Balance Sheets - December 31, 2000 and 1999........................   F-3

     Statement of Income for the years ended
       December 31, 2000 and 1999.......................................   F-4

     Statement of Stockholders' Equity for the years ended
       December 31, 2000 and 1999.......................................   F-5

     Statement of Cash Flows for the years ended
       December 31, 2000 and 1999.......................................   F-6

     Notes to 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: bihcpa123@aol.com



                          INDEPENDENT AUDITORS' REPORT

To the Board of Directors and Stockholders
of Great Wall Food and Beverage Corporation


We have audited the balance sheets of Great Wall Food and Beverage Corporation
(a Florida corporation) as of December 31, 2000 and 1999, and the related
statements of operations, retained earnings, and cash flows for the years then
ended. These financial statements are the responsibility of the Company's
management. Our responsibility is to express an opinion on these financial
statements based on our audit.

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

In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Great Wall Food and Beverage
Corporation as of December 31, 2000 and 1999, and the results of its operations
and its cash flows for the years then ended in conformity with generally
accepted accounting principles.




/s/ Barry I Hechtman, P.A.
Barry I Hechtman, P.A.
Miami, FL

March 6, 2001



                                      F-2
<PAGE>
<TABLE>
<CAPTION>

                      Great Wall Food and Beverage Corporation
                                   Balance Sheets
                              (A Development Company)
                             December 31, 2000 and 1999


                                                          2000           1999

                                     ASSETS

<S>                                                     <C>           <C>
CURRENT ASSETS
  Cash                                                  $  98,571     $ 120,918
                                                        ---------     ---------
      TOTAL CURRENT ASSETS                              $  98,571     $ 120,918


OTHER ASSETS:
  Note Receivable - Net                                 $       0     $ 100,000
                                                        ---------     ---------
    TOTAL OTHER ASSETS                                          0       100,000
                                                        ---------     ---------

TOTAL ASSETS                                            $  98,571     $ 220,918
                                                        =========     =========


                                 LIABILITIES AND
                              STOCKHOLDERS' EQUITY


LIABILITIES:
  Accounts Payable                                      $     800     $       0
  Loans Payable Shareholders                                    0         2,093
                                                        ---------     ---------
      TOTAL LIABILITIES                                 $     800     $   2,093


STOCKHOLDERS' EQUITY
  Preferred Stock, $.0001 par
    value; authorized 20,000 shares
    no issued and outstanding shares
  Common Stock, $.0001 par value; authorized
    80,000,000 shares, issued and
    outstanding 3,676,664 and 2,676,664 shares
    at December 31, 2000 and 1999                             368           368
  Additional Paid-in Capital                              452,132       452,132
  Accumulated Deficit                                    (354,729)     (233,675)
                                                        ---------     ---------
      TOTAL STOCKHOLDERS' EQUITY                           97,771       218,825
                                                        ---------     ---------

TOTAL LIABILITIES AND
  STOCKHOLDERS' EQUITY                                  $  98,571     $ 220,918
                                                        =========     =========

</TABLE>






                   See accompanying notes and accountants' report

                                      F-3
<PAGE>

                    Great Wall Food and Beverage Corporation
                              Statements of Income
                             (A Development Company)
                     Years Ended December 31, 2000 and 1999


                                                     2000               1999

REVENUES:
    TOTAL REVENUES                               $         0        $         0


EXPENSES
    DEVELOPMENT STAGE EXPENSES                       120,866             48,659

    REMEASUREMENT LOSS                                   186                233
                                                 -----------        -----------
      NET LOSS                                   ($  121,052)       ($   48,892)
                                                 ===========        ===========

      NET LOSS PER SHARE                         ($     .033)       ($     .016)
                                                 ===========        ===========

      WEIGHTED AVERAGE COMMON
        SHARES OUTSTANDING                         3,676,664          3,093,331
                                                 ===========        ===========
































                   See accompanying notes and accountants' report


                                      F-4
<PAGE>
<TABLE>
<CAPTION>


                                        Great Wall Food and Beverage Corporation
                                     Statements of Changes in Stockholders' Equity
                                         Years Ended December 31, 2000 and 1999



                                         Preferred Stock           Common Stock
                                         Par Value $.001          Par Value $.001         Additional                    Total
                                    ------------------------  -------------------------    Paid-In      Retained     Stockholders'
                                     Shares          Amount    Shares           Amount     Capital      Earnings        Equity
                                    --------       ---------  --------       ----------  -----------  -------------  -------------
<S>                                     <C>            <C>    <C>               <C>        <C>          <C>            <C>
Balance at January 1, 1999              --             --     2,676,664         $ 268      $400,232     $(184,783)     $215,717

Restricted common stock issued                                1,000,000           100        51,900                      52,000

Net Loss 1999                                                                                             (48,894)      (48,894)
                                    --------------------------------------------------------------------------------------------

Balance at December 31, 1999            --             --     3,676,664           368       452,132      (233,677)      218,823

Net Loss 2000                                                                                            (121,052)     (121,052)
                                    --------------------------------------------------------------------------------------------

Balance at December 31, 2000            --             --     3,676,664         $ 368      $452,132     $(354,729)     $ 97,771
                                    ============================================================================================







































                                       See accompanying notes and accountants' report
</TABLE>

                                                          F-5


<PAGE>
<TABLE>
<CAPTION>

                    Great Wall Food and Beverage Corporation
                            Statements of Cash Flows
                       Years Ended December 2000 and 1999

                                                            2000         1999
                                                            ----         ----
<S>                                                      <C>          <C>
Cash flows from operating activities:
  Net Loss                                               ($121,052)   ($ 48,894)
  Adjustments to reconcile net loss
    to net cash provided by operating activities:
    Allowance for bad debts                                 60,000
    Accounts payable                                           800       (2,126)
                                                         ---------    ---------
  Net cash utilized by operating activities                (60,252)     (51,020)

Cash flows from investing activities:
    Note Receivable                                         40,000
                                                         ---------    ---------
  Net cash provided by investing activities                 40,000            0

Cash flows from financing activities:
    Proceeds from sales of common stock                          0       52,000
    Proceeds from shareholder loans                         (2,093)       2,100
                                                         ---------    ---------
  Net cash provided (utilized) by
    financing activities                                    (2,093)      54,100
                                                         ---------    ---------
Net Increase (Decrease) in Cash                            (22,345)       3,080

Cash & Cash Equivalents balance at January 1,              120,916      117,838
                                                         ---------    ---------
Cash & Cash Equivalents balance at December 31,             98,571      120,918
                                                         =========    =========

</TABLE>















                 See accompanying notes and accountants' report

                                      F-6
<PAGE>


Great Wall Food and Beverage Corporation
(A Development Stage Company)
Notes to the Financial Statements

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Business and Organization

Great Wall Food and Beverage Corporation (the "Company"), a development stage
company, was incorporated in the State of Florida on August 1, 1980 as Ronnie
Interior Designs, Inc. for the purpose of acquiring or merging with an existing
operating 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.

Development Stage

The Company has operated as a development stage enterprise since its inception
by devoting substantially all its efforts to the ongoing development of the
Company.

Accounting Method

The Company's financial statements are prepared using the accrual method of
accounting. The Company has elected a calendar year end of December 31.

Loss per Share

The computation of loss per share of common stock is based upon the weighted
average common shares outstanding during each period.

Development Stage

The Company has operated as a development stage enterprise since it s inception
by devoting substantially all of its efforts to the ongoing development of the
Company.

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 2000 and 1999; expenses are
translated at weighted average exchange rates in effect during the year. The
cumulative effect resulting from such translation is recorded as remeasurement
loss in the financial statements.

NOTE 2 - NOTE RECEIVABLE

The note receivable represents deposits in the amount of $100,000 made by the
Company on equipment to be purchased which was not completed. The issuer has
negotiated a written agreement on the refund of the deposit in five monthly
payments. The final payment was due September 1, 2000. Two payments totaling
$40,000 were made during the year and the remainder of the note is currently in
default. Management has decided to establish an allowance equal to the remaining
balance of the note receivable. Should any portion of the note be collected in
the future, it would be recognized as income in that period.


                                      F-7
<PAGE>


NOTE 3 - STOCKHOLDER'S EQUITY

The Company had the following classes of capital stock:

Series A Preferred Stock, $0.0001 par value; authorized 20,000,000 shares;
issued and outstanding -0- shares.

Common stock, $0.0001 par value, 80,000,000 shares authorized, 3,676,664 and
2,676,664 shares issued and outstanding at December 31, 2000 and 1999
respectively.

In August, 1999 the Company sold of 1,000,000 shares of restricted common stock
at a price of $.052 per share. Gross proceeds related to the sale were $52,000.

NOTE 4 - GOING CONCERN

The Company's financial statements are prepared using the generally accepted
accounting principles applicable to a going concern, which contemplates the
realization of assets and liquidation of liabilities in the normal course of
business. However, the Company has no current source of revenue. Without
realization of additional capital, it would be unlikely for the Company to
continue as a going concern. It is management's intention to seek additional
capital through a merger with an existing operating company and raising capital.

NOTE 5 - INCOME TAXES

For financial reporting purposes, a valuation allowance of $56,910 has been
recognized to offset the net deferred tax assets related to these carryforwards
and other deferred tax assets since realization of any portion of the Company's
deferred tax asset is not considered to be more likely than not.

Deferred income taxes reflect the net effects of temporary differences between
the carrying amounts of assets and liabilities for financial reporting purposes
and the amounts used for income tax purposes. Significant components of the
Company's deferred tax liabilities and assets are as follows:

                                              2000         1999

Deferred tax assets:
 Net operating loss carryforwards          $ 12,210     $  9,778
                                           --------     --------
 Total deferred tax assets                   12,210        9,778
 Valuation allowance for
   deferred tax assets                     ( 12,210)    (  9,778)
                                           --------     --------
                                                  0            0
                                           ========     ========

NOTE 6 - RELATED PARTY TRANSACTIONS

The Company neither owns or leases any real property. Fees totaling $31,000 and
$25,000 were paid to companies owned by shareholders during the year ended
December 31, 2000 and 1999 for administrative and consulting services rendered
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.


                                      F-8
<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.



                                   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.

                              GREAT WALL FOOD AND BEVERAGE CORPORATION

Dated:  March 2, 2001         By: /s/ Patti Cooke
                                  ------------------------------------------
                                  Patti Cooke, President and Principal
                                  Executive, Accounting Officer and Director

Dated:  March 2, 2001         By: /s/ Bradley R. Wilson
                                  ------------------------------------------
                                  Bradley R. Wilson, Vice President and
                                  Principal Financial Officer and 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
2000; nor is any such material to be sent to them subsequent to the filing of
this Form 10-KSB.





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