U.S. 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 Fiscal Year Ended: December 31, 2001

                                       or

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

                        For the transition period from To

                         Commission file number 0-27737

                             Red Butte Energy, Inc.
                        (Name of small business issuer in its charter)

                            Nevada                   77-0454856
            ------------------------------------ --------------------
               State or other jurisdiction of     (I.R.S. Employer
               incorporation or organization     Identification No.)

                 700 Ioco Road, Port Moody, B.C., Canada V3H 2W8
                 -----------------------------------------------
               (Address of principal executive offices) (Zip code)

               eSportbike.com, Inc., Suite #700-509 Richards St.,
                        Vancouver, B.C., Canada, V6B 2Z6
              -----------------------------------------------------
                           (Former name and former address)

Issuer's telephone number                      (604) 461-4946
                                              ---------------

Securities registered under Section 12(b) of the Act: NONE
Securities registered under Section 12(g) of the Act:

                          Common Stock, par value $.001
                                (Title of class)



<PAGE>



        Check  whether the issuer (1) filed all reports  required to be filed by
Section 13 or 15(d) of the  Exchange  Act during the past 12 months (or for such
shorter period that the  registrant was required to file such reports),  and (2)
has been subject to such filing requirements for the past 90 days. Yes X No

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

        State issuer's revenues for its most recent fiscal year. $ 0
                                                                 ---

        As of April 20, 2002,  there were 2,050,000  shares of the  Registrant's
common stock,  par value $0.001,  issued and  outstanding.  The aggregate market
value of the Registrant's voting stock held by non-affiliates of the Registrant:
as of December 31, 2001 there has been no public trading in the common stock.


                       DOCUMENTS INCORPORATED BY REFERENCE

         If the following  documents  are  incorporated  by  reference,  briefly
describe them and identify the part of the Form 10-KSB  (e.g.,  Part I, Part II,
etc.) into which the document is incorporated: (1) any annual report to security
holders;  (2) any proxy or information  statement;  and (3) any prospectus filed
pursuant to Rule 424(b) or (c) of the Securities Act of 1933 ("Securities Act"):
NONE

         Transitional  Small Business  Disclosure Format (check one): Yes ; NO X




















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                                                     TABLE OF CONTENTS

<TABLE>
<CAPTION>
Item Number and Caption                                                                   Page
-----------------------                                                                   -----

PART I

<S>                                                                                       <C>
Item 1.        Description of Business.......................................................4

Item 2.        Description of Property.......................................................8

Item 3.        Legal Proceedings.............................................................8

Item 4.        Submission of Matters to a Vote of Security Holders...........................8


PART II

Item 5.        Market for Common Equity and Related Stockholder Matters......................8

Item 6.        Management's Discussion and Analysis or Plan of Operations...................10

Item 7.        Financial Statements.........................................................11

Item 8.        Changes in and Disagreements With Accountants on Accounting and
               Financial Disclosure.........................................................12

PART III

Item 9.        Directors, Executive Officers, Promoters and Control Persons;
               Compliance with Section 16(a) of the Exchange Act............................12

Item 10.       Executive Compensation.......................................................14

Item 11.       Security Ownership of Certain Beneficial Owners and Management...............14

Item 12.       Certain Relationships and Related Transactions...............................15

Item 13.       Exhibits and Reports on Form 8-K.............................................16
</TABLE>




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<PAGE>



                                     PART I

                         ITEM 1 DESCRIPTION OF BUSINESS


General

        Beginning in late 2001 and  continuing  through  early 2002,  we entered
into a series of  transactions  that we  believe  will  result  in our  resuming
business  operations,  although in a significantly  different  industry than the
traditional industries in which we have operated. Those transactions include the
following transactions:

o       During the fourth quarter the Board of Directors  decided to discontinue
        the internet portion of the business.  The Company will not proceed with
        the development of any software business in Asia.  Similarly the Company
        has decided not to operate any web based business  related to sportbikes
        or any other products.  The Company will concentrate on opportunities in
        the oil and gas industry.

o       On March 13, 2002 the majority  shareholders of the Company entered into
        an agreement whereby investors  associated with Epic Finance Corporation
        agreed to acquire the shares owned by the majority shareholders.

o       On March 19,  2002 the  Board of  Directors  approved  a 1 for 8 reverse
        stock split.  As well on the same date the Company  changed it's name to
        Red Butte Energy, Inc.

o       On April 18, 2002 the Company entered into a letter of intent to acquire
        an  undivided  50%  interest  in  the  Coal  Creek  Basin  and  adjacent
        properties  in McBrien  Twp.,  Ontario,  Canada.  The  Company  will the
        property  for coal bed  methane.  The Company  expects to complete  this
        agreement shortly.

o       The Company will  continue to pursue  opportunities  in coal bed methane
        and oil and gas principally but not limited to Canada and California.

        Our  management  believes  these actions had a beneficial  effect on our
financial position.  Some of the transactions  described below occurred,  or are
anticipated  to occur,  after  December 31, 2001, the closing date of the period
covered by this report.  We have included  descriptions of these matters in this
report to provide a more balanced  description of our  operations,  business and
prospects on a going-forward basis.

        The Company formerly was an Internet  destination  providing  community,
content  and  commerce  for  the  sportbike  and  motorcycle   enthusiast.   The
eSportbike.com website was a location where individuals,  could create their own
websites, publish pictures of their bikes, share information,  communicate, shop
and discover meaningful,  relevant content targeted to their specific interests.
The Company  discontinued  this activity  during the fourth quarter of 2001. The
Company's  current business  strategy is comprised of pursuing  opportunities in
coal bed  methane  and oil and gas  principally  but not  limited  to Canada and
California.

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        On March 19, 2002,  we amended our Articles of  Incorporation  to change
our name from "eSportbike.com,  Inc." to "Red Butte Energy, Inc." The purpose of
this amendment was to reflect the scope and type of our business activities.  At
the same time,  we effected a reduction  in our  outstanding  capitalization  by
effecting a "reverse  split" pursuant to which we issued one share of our common
stock in exchange for every eight (8) outstanding shares of our common stock. As
a result of the reverse split,  the number of issued and  outstanding  shares of
our common stock was reduced from  16,400,000  share to  2,050,000  shares.  The
rights and  preferences  of our common  stock  were not  modified  or amended in
connection with the reverse split.

        During the period  covered by this  report,  we  conducted  only minimal
business  operations,  we engaged in no mineral  research  activities or related
development  and did not expend any amounts on mineral  research or exploration.
We currently have no employees.  Certain administrative services relating to our
minimal  maintenance  operations  were  provided by  employees  of our  majority
shareholders.

History

        Company was organized as Morenci  Corp., a Nevada  Corporation,  for the
purpose  of  creating  a  corporate  vehicle  to seek,  investigate  and,  where
appropriate, acquire an interest in one or more business opportunities presented
to it by persons or firms who or which desire to seek perceived  advantages of a
publicly held corporation.

        Morenci was incorporated on April 7, 1997 and was formed specifically to
be a "clean public  shell." for the purpose of either  merging with or acquiring
an operating company. The Company ceased all activities from October 29, 1996 to
July 9, 1999 and was considered dormant. On July 9, 1999, the Company obtained a
certificate  of renewal  from the State of Nevada.  On March 2, 2000 the Company
entered into an agreement  whereby the Company,  in a reverse merger,  purchased
the  assets  of  eSportbike.com,  Inc.  The  Company  also  changed  its name to
eSportbike.com,  Inc. From March 2, 2000 to October 2001 the Company operated an
internet  web site in the sport bike  industry.  On March 19,  2002 the  Company
changed its name to Red Butte Energy, Inc.

        The Company's  authorized capital is 100,000,000 shares of common stock,
par value  $0.001  per share.  It is quoted and traded  from time to time on the
National Association of Security Dealers, Inc. (the "NASD's") OTC Bulletin Board
Under the symbol "ESPB."

        The  executive  offices  of the  Company  are  located at 700 Ioco Road,
Coquitlam, B.C. Canada V3H 2W8. Its telephone number is (604) 461-4946.



OPERATING LOSSES

        The  Company  has  incurred  net  losses of  approximately  $20,000  and
$252,000  for the fiscal  years ended  December  31, 2001 and December 31, 2000,
respectively.  Such operating  losses reflect  developmental  and other start-up
activities.  The  Company  expects  to  incur  losses  in the near  future.  The
Company's  operations are subject to numerous risks associated with establishing
any new

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business, including unforeseen expenses, delays and complications.  There can be
no assurance that the Company will achieve or sustain  profitable  operations or
that it will be able to remain in business.

FUTURE CAPITAL NEEDS AND UNCERTAINTY OF ADDITIONAL FUNDING

        The  Company was not in full  operations  during 2001 and 2000 and thus,
the revenues  generated are not  representative  of those that will be generated
once the Company becomes fully  operational.  Revenues are not yet sufficient to
support the  Company's  operating  expenses  and are not  expected to reach such
levels during 2002. Since the Company's formation,  it has funded its operations
and capital expenditures primarily through private placements of debt and equity
securities.  See "Recent Sales of Unregistered  Securities." The Company expects
that it will be required to seek additional  financing in the future.  There can
be no  assurance  that such  financing  will be available at all or available on
terms acceptable to the Company.

GOVERNMENT REGULATION

        The Company is subject to all pertinent  Federal,  State, and Local laws
governing its business.  The Company is subject to licensing and regulation by a
number of authorities in its Province (State) or municipality. These may include
health, safety, and fire regulations.  The Company's operations are also subject
to  Federal  and State  minimum  wage laws  governing  such  matters  as working
conditions and overtime.

RISK OF LOW-PRICED STOCKS

        Rules 15g-1 through 15g-9 promulgated under the Securities  Exchange Act
of 1934 (the "Exchange  Act") impose sales practice and disclosure  requirements
on certain brokers and dealers who engage in certain  transactions  involving "a
penny stock."

        Currently,  the  Company's  Common Stock is considered a penny stock for
purposes of the  Exchange  Act. The  additional  sales  practice and  disclosure
requirements imposed on certain brokers and dealers could impede the sale of the
Company's  Common  Stock  in the  secondary  market.  In  addition,  the  market
liquidity for the Company's securities may be severely adversely affected,  with
concomitant adverse effects on the price of the Company's securities.

        Under the penny  stock  regulations,  a broker or dealer  selling  penny
stock to anyone  other than an  established  customer or  "accredited  investor"
(generally,  an  individual  with net worth in excess  of  $1,000,000  or annual
incomes  exceeding  $200,000,  or $300,000 together with his or her spouse) must
make a special suitability  determination for the purchaser and must receive the
purchaser's  written consent to the transaction prior to sale, unless the broker
or dealer or the transaction is otherwise exempt.  In addition,  the penny stock
regulations  require the broker or dealer to deliver,  prior to any  transaction
involving a penny stock,  a disclosure  schedule  prepared by the Securities and
Exchange  Commission (the "SEC") relating to the penny stock market,  unless the
broker or dealer or the transaction is otherwise  exempt.  A broker or dealer is
also  required to disclose  commissions  payable to the broker or dealer and the
registered   representative  and  current  quotations  for  the  Securities.  In
addition, a broker or dealer is required to send monthly statements

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disclosing  recent price  information  with respect to the penny stock held in a
customer's  account and information  with respect to the limited market in penny
stocks.

THE VOLATILITY OF OUR STOCK PRICE

        Our quarterly operating results may fluctuate  significantly as a result
of a variety of factors, many of which are outside of our control. These factors
include:

o       The amount and timing of orders for our services or products;

o       Disruptions in the supply of delivering services or products;

o       Seasonal variations in the sale of our services or products; and

o       General economic conditions.

LACK OF TRADEMARK AND PATENT PROTECTION

        The Company  relies on a  combination  of trade  secret,  copyright  and
trademark  law,  nondisclosure  agreements  and technical  security  measures to
protect its  products.  Notwithstanding  these  safeguards,  it is possible  for
competitors  of the  company to obtain  its trade  secrets  and to  imitate  its
products.  Furthermore,  others may  independently  develop  products similar or
superior to those developed or planned by the Company.

COMPETITION

        The Company  faces  competition  from a wide variety of coal bed methane
operators,  many of which have substantially  greater  financial,  marketing and
technological resources than we have.

        We  believe  however,   numerous   opportunities   for  development  and
participation in coal bed methane and oil and gas plays for an aggressive junior
company.  The Coal Creek  opportunity  is  significant in that while it was well
researched  and  evaluated  in prior years as a coal  deposit  there has been no
significant  follow up with the  opportunity  to develop the methane  associated
with the coal. There has been in recent years new emphasis on the development of
coal bed  methane  related  to high  energy  costs  and a desire  for more  self
sufficiency  in energy  resources  within  North  America.  This has  caused the
Company to desire to acquire this project as it could be of significant economic
value.

EMPLOYEES

        As of April 20, 2002, the Company had no employees.


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                         ITEM 2 DESCRIPTION OF PROPERTY

        Since  1997 all  administrative  activities  of the  Company  have  been
conducted by  corporate  officers  from either  their home or business  offices.
Currently,  there are no  outstanding  debts owed by the  Company for the use of
these facilities and there are no commitments for future use of the facilities.

        Since March 2001,  the Company has been using office  space  provided by
public Idea Capital Ltd., on a gratis basis.  Charles  Spooner  shareholder  and
director  of the  Company is also a  shareholder  and  director  of public  Idea
Capital Ltd.


                            ITEM 3 LEGAL PROCEEDINGS


        Not Applicable.

                        ITEM 4 SUBMISSION OF MATTERS TO A
                            VOTE OF SECURITY HOLDERS

        No matters  were subject to a vote of security  holders  during the year
2001.

                                     PART II

                       ITEM 5 MARKET FOR COMMON EQUITY AND
                           RELATED STOCKHOLDER MATTERS

MARKET INFORMATION

        The Company's Common Stock is traded from time to time on the NASD's OTC
Bulletin  Board under the symbol  "ESPB." The following  table presents the high
and low bid  quotations  for the Common  Stock as  reported by the NASD for each
quarter during the last two years. Such prices reflect  inter-dealer  quotations
without  adjustments  for retail  markup,  markdown  or  commission,  and do not
necessarily represent actual transactions.



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              2000:                       High             Low
First Quarter                           $       6.00    $   2.938
Second Quarter                                  4.438       0.156
Third Quarter                                   0.40         0.08
Fourth Quarter                                  0.30         0.07

              2001:
First Quarter                           $       0.17    $   0.075
Second Quarter                                  -               -
Third Quarter                                   -               -
Fourth Quarter                                  -               -


DIVIDENDS

        The Company has never  declared  or paid any cash  dividends.  It is the
present  policy of the  Company to retain  earnings  to  finance  the growth and
development  of the business  and,  therefore,  the Company does not  anticipate
paying dividends on its Common Stock in the foreseeable future.

        The number of shareholders of record of the Company's Common Stock as of
April 20, 2002 was approximately 36.

RECENT SALES OF UNREGISTERED SECURITIES

        In  connection  with   organizing  the  Company,   on  April  18,  1997,
twenty-eight   persons  consisting  of  its  officers,   directors,   and  other
individuals  were issued a total of 1,000  shares of Common  Stock at a value of
$.001 per share.  On May 6, 1999,  those  outstanding  shares were forward split
1,000 to 1, resulting in a total of 1,000,000 shares outstanding.

        On February 23, 2000,  Mr. Daniel L. Hodges  returned  800,000 shares to
the treasury and the shares were canceled, resulting in 200,000 remaining shares
outstanding.

On February 23, 2000 the Company  declared a forward split 27 to 1, resulting in
a total of 5,400,000 shares outstanding.

        On March 20, 2000, the Company issued  5,000,000 shares of the Company's
common   stock  to  each  of  Robert  E.   McLachlan   and  Kent   Courtice  and
1,000,000shares to M. Gregg Marshall for services to the Company as officers and
directors.

        On March 13, 2001,  Robert Mclauchlan and Kent Courtice each transferred
5,000,000 shares of the Company's common stock to Sinoray. In exchange, Xue Ming
Liang and Public Idea  Capital  Ltd.  assumed  two  hundred and twenty  thousand
dollars in debt that the Company owed to McLauchlan and Courtice.



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                       ITEM 6 MANAGEMENT'S DISCUSSION AND
                         ANALYSIS OR PLAN OF OPERATIONS

        The  following  information  should  be read  in  conjunction  with  the
information in Item 7, Financial Statements, and other information regarding our
financials  performance for the period covered by this report included elsewhere
in this report.  The  following  discussions  and other parts of this report may
contain  forward-looking  statements that involve risks and  uncertainties.  Our
actual  results may differ  significantly  from the results  discussed  in those
forward-looking  statements.  Factors that might cause such differences include,
but are not limited to, our history of  unprofitability  and the  uncertainty of
our  profitability,  our  ability to develop  and  introduce  new  services  and
products,  the  uncertainty of market  acceptance of those services or products,
our  potential  reliance  on  collaborative  partners,  our  limited  sales  and
marketing experience,  the highly competitive industries in which we operate and
general economic and business conditions, some or all of which may be beyond our
ability to control.

        Plan of  Operations  - The  Company  was  organized  for the  purpose of
creating a corporate  vehicle to seek,  investigate  and, if such  investigation
warrants, acquire an interest in one or more business opportunities presented to
it by persons or firms who or which  desire to seek  perceived  advantages  of a
publicly held corporation.

        The   Company  may  incur   significant   post-merger   or   acquisition
registration costs in the event management wishes to register a portion of their
shares for subsequent  sale. The Company will also incur  significant  legal and
accounting  costs in  connection  with the  acquisition  including  the costs of
preparing post- effective amendments,  Forms 8-K, agreements and related reports
and documents.

        The Company will not have  sufficient  funds (unless it is able to raise
funds  in  a  private  placement)  to  undertake  any  significant  development,
marketing and manufacturing of the products acquired. Accordingly, following the
acquisition,  the Company  will, in all  likelihood,  be required to either seek
debt or equity  financing or obtain funding from third parties,  in exchange for
which the  Company  may be  required  to give up a  substantial  portion  of its
interest in the acquired product. There is no assurance that the Company will be
able  either to  obtain  additional  financing  or  interest  third  parties  in
providing  funding for the further  development,  marketing and manufacturing of
any products acquired.

        On March 13, 2002 the majority  shareholders of the Company entered into
an agreement whereby investors  associated with Epic Finance  Corporation agreed
to acquire the shares owned by the majority shareholders.

        On March 19,  2002 the  Board of  Directors  approved  a 1 for 8 reverse
stock split. As well on the same date the Company changed it's name to Red Butte
Energy, Inc.

         On April  18,  2002 the  Company  entered  into a letter  of  intent to
acquire  an  undivided  50%  interest  in the  Coal  Creek  Basin  and  adjacent
properties in McBrien Twp., Ontario, Canada. The

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Company will explore the property for coal bed methane.  The Company  expects to
complete this agreement shortly.

        The Company will  continue to pursue  opportunities  in coal bed methane
and oil and gas principally but not limited to Canada and California.

        The  Company  will not  proceed  with the  development  of any  software
business in Asia. Similarly the Company has decided not to operate any web based
business  related  to  sportbikes  or  any  other  products.  The  Company  will
concentrate on opportunities in the oil and gas industry.

        Results of  Operations  - From April 7, 1997 to July 9, 1999 the Company
was an inactive  corporation.  From July 9, 1999 the  Company was a  development
stage company and had not begun principal  operations.  During 2001 and 2000 the
Company  attempted  to  provide  an  internet  web site  that has  since  proved
uneconomical and has been abandoned. Accordingly, comparisons with prior periods
are not meaningful.

LIQUIDITY AND CAPITAL RESOURCES

         The Company has met its  capital  requirements  through the sale of its
Common Stock .

        Since  the  Company's  re-activation  in July  9,  1999,  the  Company's
principal  capital  requirements have been the funding of the development of the
Company.

        The Company  expects future  development  and expansion will be financed
through cash flow from  operations and other forms of financing such as the sale
of  additional  equity and debt  securities,  capital  leases  and other  credit
facilities.  There are no assurances  that such  financing  will be available on
terms acceptable or favorable to the Company.

        Government  Regulations  - The  Company  is  subject  to  all  pertinent
Federal, State, and Local laws governing its business. The Company is subject to
licensing and regulation by a number of  authorities in its Province  (State) or
municipality.  These may  include  health,  safety,  and fire  regulations.  The
Company's  operations  are also  subject to Federal and State  minimum wage laws
governing such matters as working conditions and overtime.

                           ITEM 7 FINANCIAL STATEMENTS

        The  financial  statements  of the  Company and  supplementary  data are
included beginning  immediately following the signature page to this report. See
Item 13 for a list of the financial statements and financial statement schedules
included.



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

        As a result of the previously  reported change of control the registrant
engaged a new  independent  accountant as the principal  accountant to audit the
registrant's  financial statements.  The new independent  accountant is Robison,
Hill & Co., Certified Public Accountants.  The change in accountants,  which was
effective April 20, 2002 was recommended by the  registrant's  chief  financials
officer and approved by the Board of Directors.

        There are not and have not been any  disagreements  between  the Company
and its accountants on any matter of accounting principles, practices, financial
statements disclosure or auditing scope or procedure.

        Prior to the new  engagement,  the  registrant had not consulted the new
accountant regarding: (I) the application of accounting principles to a specific
completed or contemplated transactions,  or the type or audit opinion that might
be rendered on the  financial  statements,  or any advice as to any  accounting,
auditing or financial  reporting  issue; or (ii) any matter that was the subject
of a disagreement with the previous accountant.

        The  registrant  has  provided  the former  accountant  James  Stafford,
Chartered  Accountant with a copy of the disclosures it is making in response to
this item in this Form 10-KSB and has requested the former accountant to furnish
a letter addressed to the Securities and Exchange Commission stating whether the
former  accountant  agrees with the  statements  made and,  if not,  stating the
respects  in which it  disagrees.  The  registrant  will  file the  letter as an
exhibit to an amendment to this Form 10-KSB.


                                    PART III

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

Executive Officers and Directors

The members of the Board of Directors of the Company serve until the next annual
meeting of  stockholders,  or until  their  successors  have been  elected.  The
officers  serve at the pleasure of the Board of Directors.  The following  table
sets forth the name, age, and position of each executive officer and director of
the Company:

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Director's   Name      Age            Office                    Term Expires
Xue Ming Liang          45      President & Director        next annual meeting
Charles Spooner         51            Director              next annual meeting

        Set forth below is certain biographical information,  present occupation
        and  business  experience  for the past five years of each  director and
        executive officer of the Company. Officers of the Company are elected by
        the Board of Directors and hold office until their successors are chosen
        and  qualified,  until  their  death or until  they  resign or have been
        removed from office.  All corporate  officers serve at the discretion of
        the Board of Directors.

        Xue M. Liang is the  President  and Director of the Company and a member
of the Board of Directors since March 2000.  Prior to joining the Company he was
a Vice  Technical  Director  for the Bank of China  from March 1992 to May 2000,
specializing in financial software applications and development.

        Charles Spooner joined the Company as a member of the Board of Directors
in March 2000. He has been  President and Director of Sonrae  Corporation  since
1982.  Sonrae  Corporation  is a private  investment  company with  interests in
consulting,  hospitality,  oil and gas and real estate. Since October 2000 he is
also a  shareholder  and  director  of  Public  Idea  Capital  Ltd.,  a  private
management consulting company and subsidiary of Sonrae Corporation.

        Daniel Hodges, former sole Director, President, CEO and Secretary of the
Company,  and W. Scott Marshall,  former  President and Director of the Company,
each resigned his position as an officer and director of the Company  during the
Calendar year 2000. Robert McLauchlan, CEO and Director of the Company, and Kent
Courtice,  President,  Secretary and Treasurer of the Company, each resigned his
position as an officer and director of the Company during 2001.

Conflicts of Interest

Certain  conflicts of interest  existed at December 31, 2001 and may continue to
exist  between the Company and its officers and  directors  due to the fact that
each has other business  interests to which they devote their primary attention.
Each officer and director  may continue to do so  notwithstanding  the fact that
management time should be devoted to the business of the Company.

Certain  conflicts of interest may exist between the Company and its management,
and  conflicts  may  develop in the  future.  The  Company  has not  established
policies or procedures for the  resolution of current or potential  conflicts of
interests  between  the  Company,  its  officers  and  directors  or  affiliated
entities.  There can be no assurance that  management will resolve all conflicts
of interest in favor of the Company,  and failure by  management  to conduct the
Company's business in the Company's best interest may result in liability to the
management.  The  officers  and  directors  are  accountable  to the  Company as
fiduciaries,  which  means that they are  required  to  exercise  good faith and
integrity in handling the Company's  affairs.  Shareholders who believe that the
Company has been  harmed by failure of an officer or  director to  appropriately
resolve any  conflict  of  interest  may,  subject to  applicable  rule of civil
procedure,  be able to bring a class action or derivative  suit to enforce their
rights and the Company's rights.

                                       13

<PAGE>




Board Meetings and Committees

        The  Directors  and  Officers  will not  receive  remuneration  from the
Company until a subsequent  offering has been  successfully  completed,  or cash
flow from  operating  permits,  all in the discretion of the Board of Directors.
Directors may be paid their  expenses,  if any, of attendance at such meeting of
the  Board of  Directors,  and may be paid a fixed  sum for  attendance  at each
meeting  of the  Board of  Directors  or a stated  salary as  Director.  No such
payment shall  preclude any Director from serving the  Corporation  in any other
capacity and receiving  compensation  therefor. No compensation has been paid to
the  Directors.  The Board of Directors may designate  from among its members an
executive  committee and one or more other  committees.  No such committees have
been appointed.


Compliance with Section 16(a) of the Exchange Act

        Based solely upon a review of forms 3, 4, and 5 and amendments  thereto,
furnished to the Company during or respecting its last fiscal year, no director,
officer,  beneficial owner of more than 10% of any class of equity securities of
the  Company  or any other  person  known to be  subject  to  Section  16 of the
Exchange  Act of 1934,  as  amended,  failed to file on a timely  basis  reports
required by Section 16(a) of the Exchange Act for the last fiscal year except M.
Gregg Marshall, Robert E. McLauchlan and Kent Courtice did not file Form 3.

                         ITEM 10 EXECUTIVE COMPENSATION

        None of the  executive  officer's  salary  and bonus  exceeded  $100,000
during any of the Company's last two fiscal years.


                 ITEM 11 SECURITY OWNERSHIP OF BENEFICIAL OWNERS
                                 AND MANAGEMENT

Principal Shareholders

        The table  below  sets forth  information  as to each  person  owning of
record or who was known by the Company to own  beneficially  more than 5% of the
2,050,000  shares of issued and  outstanding  Common  Stock of the Company as of
April 20, 2002 and  information  as to the ownership of the  Company's  Stock by
each of its directors and executive  officers and by the directors and executive
officers  as a group.  Except  as  otherwise  indicated,  all  shares  are owned
directly,  and the persons  named in the table have sole  voting and  investment
power with respect to shares shown as beneficially owned by them.


                                       14

<PAGE>


<TABLE>
<CAPTION>
Name and Address
of Beneficial Owners /                  Nature of           Shares
Directors                               Ownership            Owned           Percent
-----------------------------------------------------------------------------------------

<S>                                     <C>               <C>                <C>
Sinoray Technology Limited              common stock      1,250,000*         60.98%
P.O. Box 957
Offshore Incorporations Centre
Road Town, Tortola
British Virgin Islands

Xue Ming Liang                          common stock      1,250,000*         60.98%
Suite #700-509 Richards St.,
Vancouver, B.C., Canada, V6B 2Z6

Charles Spooner                         common stock        60,250            2.94%
Suite #700-509 Richards St.,
Vancouver, B.C., Canada, V6B 2Z6
                                                               -                -
All Executive Officers
and Directors as a Group
(2 persons)                             common stock       1,310,250          63.92
</TABLE>

* Mr. Liang is a controlling shareholder and director of Sinoray.

                   ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

        On March 13,  2002,  the  majority  shareholders  of Sinoray  Technology
entered into an agreement with Epic Finance  corporation and it's investor group
to acquire their shares of the Company.  This  transaction is slated to close on
or before September 1, 2002. In exchange for the shares Epic Finance Corporation
will pay to the Sinoray a total of $300,000 plus the costs  associated  with the
transaction.

        On March 13, 2001,  Robert  McLauchlan and Kent Courtice entered into an
agreement with Public Idea Capital Ltd., Xue Ming Liang,  Sinoray Technology and
the Company (the "change in control  agreement")  whereby each of McLauchlan and
Courtice  transferred  625,000  shares of the Company's  common stock to Sinoray
Technology.  In exchange,  Xue Ming Liang and Public Idea  Capital Ltd.  assumed
$220,000 in debt that the Company owed to  McLaughlan  and Courtice and received
the right to convert the debt into  shares of the  Company's  common  stock at a
price of $.08 per share on a pro rata basis proportionate to who paid the debt.

         Mr.  Liang  is  a  controlling  shareholder  and  director  of  Sinoray
Technology  and Charles  Spooner is a  shareholder  and  director of Public Idea
Capital Ltd. In  connection  with the  transfer,  McLauchlan  and Courtice  each
resigned his position as an officer and director of the Company. As

                                       15

<PAGE>



a result of the transfer Sinoray  Technology now owns a controlling  interest in
the Company.  Under Rule 405  promulgated  under the Securities Act of 1933, Mr.
Liang and Mr.  Spooner may be deemed to be a promoter of the  Company.  No other
persons are known to Management that would be deemed to be promoters.

                   ITEM 13. EXHIBITS, AND REPORTS ON FORM 8-K
<TABLE>
<CAPTION>
        (a)    The following documents are filed as part of this report.

1.      Financial Statements                                                              Page

<S>                                                                                        <C>
Report of Robison, Hill & Co., Independent Certified Public Accountants....................F-1

Balance Sheets as of December 31, 2001, and 2000...........................................F-2

Statements of Operations for the years ended
     December 31, 2001, and 2000...........................................................F-3

Statement of Stockholders' Equity Since
     April 7, 1997 (inception) to December 31, 2001........................................F-4

Statements of Cash Flows for the years ended
     December 31, 2001, and 2000...........................................................F-5

Notes to Financial Statements..............................................................F-6
</TABLE>

2.      Financial Statement Schedules

        The following  financial  statement schedules required by Regulation S-X
are included herein.

        All  schedules  are  omitted  because  they  are not  applicable  or the
required information is shown in the financial statements or notes thereto.





3.      Exhibits

               The following exhibits are included as part of this report:

Exhibit

                                       16

<PAGE>



Number         Title of Document

2.1            Change in Control Agreement dated January 15, 2001 (1)
3.1            Articles of Incorporation (2)
3.2            Amended Articles of Incorporation (2)
3.3            Bylaws (2)

(1)      Incorporated by reference to the Registrant's  quarterly report on Form
         10-QSB filed on May 21, 2001.

(2)      Incorporated by reference to the Registrant's registration statement on
         Form 10-SB filed on October 20, 1999.

         (b) Reports on Form 8-K filed.

         No reports on Form 8-K were filed during the prior quarter.

                                       17

<PAGE>



                                   SIGNATURES

        Pursuant to the  requirements  of section 13 or 15(d) of the  Securities
Exchange Act of 1934, as amended,  the Registrant has duly caused this report to
be signed on it behalf by the undersigned, thereunto duly authorized.

                             Red Butte Energy, Inc.

Dated: April 29, 2002                       By  /S/     Xue Ming Liang
                                            ------------------------------------
                                            Xue Ming Liang
                                            President and Director

        Pursuant to the requirements of the Securities  Exchange Act of 1934, as
amended, this report has been signed below by the following persons on behalf of
the Registrant and in the capacities indicated on this 29th day of April 2002.

Signatures                           Title

/S/     Xue Ming Liang
-------------------------------------------------------------------
Xue Ming Liang                       President and Director
                                    (Principal Executive Officer)
                                    (Principal Financial and Accounting Officer)

/S/     Charles Spooner
--------------------------------------------------------------------
Charles Spooner                      Director

                                       18

<PAGE>


                             RED BUTTE ENERGY, INC.

                         (formerly eSportbike.com, Inc.)

                          (A Development Stage Company)

                                       -:-

                         INDEPENDENT ACCOUNTANTS' REPORT


                           DECEMBER 31, 2001 AND 2000






<PAGE>






                                           CONTENTS
<TABLE>
<CAPTION>
                                                                                       Page

<S>                                                                                    <C>
Independent Auditor's Report...........................................................F - 1

Balance Sheets
  December 31, 2001 and 2000...........................................................F - 2

Statements of Operations for the
  Years Ended December 31, 2001 and 2000...............................................F - 3

Statement of Stockholders' Equity
 Since April 7, 1997 (inception) to December 31, 2001..................................F - 4

Statements of Cash Flows for the
  Years Ended December 31, 2001 and 2000...............................................F - 5

Notes to Financial Statements..........................................................F - 6
</TABLE>


<PAGE>



                          INDEPENDENT AUDITOR'S REPORT

Red Butte Energy, Inc.
(formerly eSportbike.com, Inc.)
(A Development Stage Company)

        We have audited the accompanying balance sheet of Red Butte Energy, Inc.
(formerly eSportbike.com, Inc.) (a development stage company) as of December 31,
2001 and the related  statements of operations  and cash flows for the year then
ended and the statement of  stockholders'  equity from April 7, 1997 (inception)
to December 31, 2001. These financial  statements are the  responsibility of the
Company's  management.  Our  responsibility  is to  express  an opinion on these
financial  statements based on our audit. The financial  statements of Red Butte
Energy, Inc. (formerly eSportbike.com, Inc.) (a development stage company) as of
December 31,  2000,  were  audited by other  auditors  whose report dated May 8,
2001, expressed an unqualified opinion with a going concern-uncertainty on those
statements.

        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
financial  statement  presentation.   We  believe  that  our  audits  provide  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 Red Butte Energy,
Inc.  (formerly  eSportbike.com,  Inc.)  (a  development  stage  company)  as of
December 31, 2001 and the results of its  operations  and its cash flows for the
year 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 suffered recurring losses from operation
and has a deficit in stockholders'  equity as of December 31, 2001 that together
raise  substantial  doubt  about its  ability to  continue  as a going  concern.
Management's  plans in regard to these matters also are described in Note 1. The
financial   statements   do  not  include  any   adjustments   relating  to  the
recoverability  and  classification  of asset carrying amounts or the amount and
classification  of  liabilities  that  might  result  from the  outcome  of this
uncertainty.

                                                   Respectfully submitted

                                                   /S/ ROBISON, HILL & CO.
                                                   Certified Public Accountants

Salt Lake City, Utah
April 20, 2002


                                      F - 1

<PAGE>



                             RED BUTTE ENERGY, INC.
                         (formerly eSportbike.com, Inc.)
                          (A Development Stage Company)
                                 BALANCE SHEETS
<TABLE>
<CAPTION>
                                                          December 31,
                                                 -------------------------------
                                                      2001            2000
                                                 --------------  ---------------
Assets:
<S>                                              <C>             <C>
   Cash and cash equivalents                     $        2,086  $             -
   Accounts receivable                                        -            4,913
   Prepaid expenses                                           -            1,155
                                                 --------------  ---------------
      Total Current Assets                                2,086            6,068

Property and Equipment:
   Computer equipment                                     4,664            4,667
   Furniture and equipment                                  417              426
   Software                                                   -            1,914
                                                 --------------  ---------------
                                                          5,081            7,007
   Less accumulated depreciation                         (3,265)          (3,555)
                                                 --------------  ---------------
      Net Property and Equipment                          1,816            3,452
                                                 --------------  ---------------

Other Assets - intangibles, net                               -            3,396
                                                 --------------  ---------------
      Total Assets                               $        3,902  $        12,916
                                                 ==============  ===============

Liabilities and Shareholders' Equity
Liabilities:
   Accounts payable and accrued liabilities      $       17,399  $        16,926
   Short term notes payable                                   -               55
                                                 --------------  ---------------
      Total current liabilities                          17,399           16,981
Due to shareholders                                     244,036          233,035
                                                 --------------  ---------------
      Total liabilities                                 261,435          250,016
                                                 --------------  ---------------

Stockholders' Equity:
  Common Stock, Par value $.001, Authorized
    100,000,000 shares, Issued 2,050,000 shares
    at December 31, 2001 and 2000                         2,050            2,050
  Paid-In Capital                                        18,162           18,162
 Retained Deficit                                      (273,432)        (257,312)
  Deficit Accumulated During the
     Development Stage                                   (4,313)               -
  Foreign Currency Translation Adjustment                     -                -
                                                 --------------  ---------------
     Total Stockholders' Equity                        (257,533)        (237,100)
                                                 --------------  ---------------
       Total Liabilities and Stockholders' Equity$        3,902  $        12,916
                                                 ==============  ===============
</TABLE>

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

                                      F - 2

<PAGE>



                             RED BUTTE ENERGY, INC.
                         (formerly eSportbike.com, Inc.)
                          (A Development Stage Company)
                            STATEMENTS OF OPERATIONS
<TABLE>
<CAPTION>

                                                                   Cumulative
                                                                      since
                                                                   December 1,
                                                                      2001
                                       For the year ended         inception of
                                          December 31,             development
                                 ------------------------------
                                      2001            2000            stage
                                 --------------  --------------  ---------------
<S>                              <C>             <C>             <C>
Revenues                         $            -  $            -  $             -

Expenses:
   General and administrative             4,313               -            4,313
                                 --------------  --------------  ---------------
      Total expenses                      4,313               -            4,313
                                 --------------  --------------  ---------------


Discontinued Operations:
   Income (Loss) from
operations
     of discontinued operations         (16,120)       (252,026)               -
                                 --------------  --------------  ---------------


     Net Loss                    $      (20,433) $     (252,026) $        (4,313)
                                 ==============  ==============  ===============

Basic & Diluted loss per share   $       (0.01)  $       (0.12)
                                 ==============  ==============
</TABLE>













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

                                      F - 3

<PAGE>



                             RED BUTTE ENERGY, INC.
                         (formerly eSportbike.com, Inc.)
                          (A Development Stage Company)
                        STATEMENT OF STOCKHOLDERS' EQUITY
              SINCE APRIL 7, 1997 (INCEPTION) TO DECEMBER 31, 2001
<TABLE>
<CAPTION>
                                                                                          Deficit
                                                                                        Accumulated
                                                                                       Since April 7,
                                          Common Stock          Paid-In    Retained         1997
                                       Shares      Par Value    Capital     Deficit      Inception
                                    ------------  -----------  ---------  -----------  --------------
Balance at April 7, 1997
<S>                                 <C>           <C>          <C>        <C>          <C>
(inception)                                    -  $         -  $       -  $         -  $            -

April 18, 1997 Issuance of  Stock
  for payment of accounts payable        675,000          675      8,537            -               -
Net Loss                                       -            -          -       (1,100)              -
                                    ------------  -----------  ---------  -----------  --------------

Balance at December 31, 1997             675,000          675      8,537       (1,100)              -

Net Loss                                       -            -          -         (100)              -
                                    ------------  -----------  ---------  -----------  --------------

Balance at December 31, 1998             675,000          675      8,537       (1,200)              -

Net Loss                                       -            -          -       (4,086)              -
                                    ------------  -----------  ---------  -----------  --------------

Balance at December 31, 1999             675,000          675      8,537       (5,286)              -

March 31, 2000 Issuance of Stock
  for payment of accounts payable      1,375,000        1,375      9,625            -               -
Net Loss                                       -            -          -     (252,026)
                                    ------------  -----------  ---------  -----------  --------------

Balance at December 31, 2000           2,050,000        2,050     18,162     (257,312)              -

Net Loss                                       -            -          -      (16,120)         (4,313)
                                    ------------  -----------  ---------  -----------  --------------

Balance at December 31, 2001           2,050,000  $     2,050  $  18,162  $  (273,432) $       (4,313)
                                    ============  ===========  =========  ===========  ==============
</TABLE>







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

                                      F - 4

<PAGE>



                             RED BUTTE ENERGY, INC.
                         (formerly eSportbike.com, Inc.)
                          (A Development Stage Company)
                            STATEMENTS OF CASH FLOWS
<TABLE>
<CAPTION>
                                                                             Cumulative
                                                                                Since
                                                                             December 1,
                                                                                2001
                                                    For the years ended     Inception of
                                                       December 31,          Development
                                                  -----------------------
                                                     2001        2000           Stage
                                                  ----------- -----------  ---------------
CASH FLOWS FROM OPERATING
ACTIVITIES:
<S>                                               <C>         <C>          <C>
Net Loss for the period                           $   (20,433)$  (252,026) $        (4,313)
Adjustments to reconcile net loss to net cash
  provided by operating activities:
      Depreciation and amortization                     5,032       6,952            1,272
Changes in Operating Assets and Liabilities
   (Increase) decrease in accounts receivable           4,913      (4,913)               -
   (Increase) decrease in prepaid expenses              1,155      (1,155)               -
   Increase (Decrease) in Accounts Payable                473      14,175                -
                                                  ----------- -----------  ---------------
  Net Cash Used in operating activities                (8,860)   (236,967)          (3,041)
                                                  ----------- -----------  ---------------
CASH FLOWS FROM INVESTING
ACTIVITIES:
   Purchase of property and equipment                       -     (13,800)               -
                                                  ----------- -----------  ---------------
Net cash provided by investing activities                   -     (13,800)               -
                                                  ----------- -----------  ---------------
CASH FLOWS FROM FINANCING
ACTIVITIES:
   Increase (decrease) in amounts due shareholders     11,001     239,712            2,300
   Payment of short term notes payable                    (55)          -                -
   Issuance of Stock for accounts payable                   -      11,000                -
                                                  ----------- -----------  ---------------
Net Cash Provided by Financing Activities              10,946     250,712            2,300
                                                  ----------- -----------  ---------------
Net (Decrease) Increase in
  Cash and Cash Equivalents                             2,086         (55)            (741)
Cash and Cash Equivalents
  at Beginning of Period                                    -          55              741
                                                  ----------- -----------  ---------------
Cash and Cash Equivalents
  at End of Period                                $     2,086 $         -  $             -
                                                  =========== ===========  ===============
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the year for:
  Interest                                        $         - $         -  $             -
  Franchise and income taxes                      $         - $         -  $             -
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING
ACTIVITIES: None
</TABLE>
             The  accompanying  notes are an  integral  part of these  financial
statements.


                                      F - 5

<PAGE>



                             RED BUTTE ENERGY, INC.
                         (formerly eSportbike.com, Inc.)
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                   THE YEARS ENDED DECEMBER 31, 2001 AND 2000

NOTE 1 - NATURE OF OPERATIONS AND GOING CONCERN

        The accompanying financial statements have been prepared on the basis of
accounting  principles  applicable to a "going  concern",  which assume that the
Company  will  continue in  operation  for at least one year and will be able to
realize  its assets  and  discharge  its  liabilities  in the  normal  course of
operations.

        Several  conditions and events cast doubt about the Company's ability to
continue  as  a  "going  concern".  The  Company  has  incurred  net  losses  of
approximately $278,000 for the period from April 7, 1997 (inception) to December
31, 2001, has a liquidity problem, and requires additional financing in order to
finance its business  activities  on an ongoing  basis.  The Company is actively
pursuing  alternative  financing  and has had  discussions  with  various  third
parties, although no firm commitments have been obtained.

        The  Company's  ability  to  survive  will  depend on  numerous  factors
including,  but not  limited to, the  Company's  receiving  continued  financial
support, completing public equity financing, or generating profitable operations
in the future.

        These  financial  statements  do not reflect  adjustments  that would be
necessary  if the Company  were unable to continue as a "going  concern".  While
management believes that the actions already taken or planned, will mitigate the
adverse conditions and events which raise doubt about the validity of the "going
concern" assumption used in preparing these financial  statements,  there can be
no assurance that these actions will be successful.

        If the  Company  were  unable to  continue  as a "going  concern",  then
substantial adjustments would be necessary to the carrying values of assets, the
reported amounts of its liabilities, the reported revenues and expenses, and the
balance sheet classifications used.

NOTE 2 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

        This summary of accounting policies for Red Butte Energy,  Inc.(formerly
eSportbike.com,  Inc.) is presented  to assist in  understanding  the  Company's
financial  statements.  The accounting  policies  conform to generally  accepted
accounting  principles and have been consistently  applied in the preparation of
the financial statements.

Organization and Basis of Presentation

        The  Company was  incorporated  under the laws of the State of Nevada on
April 7, 1997.  The Company  ceased all operating  activities  during the period
from April 7, 1997 to July 9, 1999 and was considered  dormant. On July 9, 1999,
the Company  obtained a Certificate of renewal from the State of Nevada.  During
2000 the Company developed an Internet website which provided community,


                                            F - 6

<PAGE>



                             RED BUTTE ENERGY, INC.
                         (formerly eSportbike.com, Inc.)
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                   THE YEARS ENDED DECEMBER 31, 2001 AND 2000
                                   (Continued)

NOTE 2 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)

Organization and Basis of Presentation (continued)

content  and  commerce  for the  sportbike  and  motorcycle  enthusiast.  During
November  2001 the Company  abandoned the internet  business and since  December
2001, the Company is in the  development  stage,  and has not commenced  planned
principal  operations.  On March 19, 2002 the  Company's  name was changed  from
eSportbike.com,  Inc. to Red Butte Energy,  Inc. to reflect the new focus of the
Company.

Nature of Business

        The company has no products  or services as of December  31,  2001.  The
Company was organized as a vehicle to seek merger or acquisition candidates. The
Company intends to acquire interests in various business opportunities, which in
the opinion of management will provide a profit to the Company

Cash and Cash Equivalents

        For purposes of the statement of cash flows,  the Company  considers all
highly liquid debt instruments purchased with a maturity of three months or less
to be cash equivalents to the extent the funds are not being held for investment
purposes.

Pervasiveness of Estimates

        The  preparation  of financial  statements in conformity  with generally
accepted  accounting  principles  required  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.

Revenue Recognition

        Revenue is recognized as services are performed




                                            F - 7

<PAGE>



                             RED BUTTE ENERGY, INC.
                         (formerly eSportbike.com, Inc.)
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                   THE YEARS ENDED DECEMBER 31, 2001 AND 2000
                                   (Continued)

NOTE 2 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)

Loss per Share

        The reconciliations of the numerators and denominators of the basic loss
per share computations are as follows:
<TABLE>
<CAPTION>
                                                                                  Per-Share
                                                  Income           Shares           Amount
                                                  ------           ------           ------
                                                (Numerator)     (Denominator)

                                                    For the year ended December 31, 2001
Basic Loss per Share
<S>                                           <C>                    <C>        <C>
Loss to common shareholders                   $       (20,433)       2,050,000  $       (0.01)
                                              ===============  ===============  ==============


                                                    For the year ended December 31, 2000
Basic Loss per Share
Loss to common shareholders                   $      (252,026)       2,050,000  $       (0.12)
                                              ===============  ===============  ==============
</TABLE>
        The  effect  of   outstanding   common   stock   equivalents   would  be
anti-dilutive for December 31, 2001 and 2000 and are thus not considered.

Foreign Currency Translation

        The  functional  currency of the Company is  Canadian  dollars.  Balance
sheet accounts are translated to U.S. dollars at the current exchange rate as of
the  balance  sheet  date.  Income  statement  items are  translated  at average
exchange  rates  during the period.  The  resulting  translation  adjustment  is
recorded as a separate component of stockholders' equity.

Reclassifications

        Certain   reclassifications   have  been  made  in  the  2000  financial
statements to conform with the 2001 presentation.



                                            F - 8

<PAGE>



                             RED BUTTE ENERGY, INC.
                         (formerly eSportbike.com, Inc.)
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                   THE YEARS ENDED DECEMBER 31, 2001 AND 2000
                                   (Continued)

NOTE 2 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)

Advertising Expense

        Advertising costs are expensed when the services are provided..

Income Taxes

        The  Company  has a net  operating  loss for  income  taxes.  Due to the
regulatory  limitations  in  utilizing  the loss,  it is  uncertain  whether the
Company  will be able to  realize a benefit  from  these  losses.  Therefore,  a
deferred  tax  asset  has  not  been  recorded.  There  are no  significant  tax
differences requiring deferral.

Concentrations of Credit Risk

        The  Company  has no  significant  off-balance-sheet  concentrations  of
credit  risk such as foreign  exchange  contracts,  options  contracts  or other
foreign hedging arrangements.

Depreciation

        Fixed  assets  are  stated at cost.  Depreciation  and  amortization  is
calculated  on a  straight-line  basis over the  estimated  useful  lives of the
assets as follows:


                 Asset                        Rate
---------------------------------------  --------------

Computer equipment                              3 years
Furniture and equipment                         5 years

        Maintenance  and  repairs  are charged to  operations;  betterments  are
capitalized.  The  cost  of  property  sold  or  otherwise  disposed  of and the
accumulated  depreciation  thereon are eliminated  from the property and related
accumulated depreciation accounts, and any resulting gain or loss is credited or
charged to income.






                                            F - 9

<PAGE>


                             RED BUTTE ENERGY, INC.
                         (formerly eSportbike.com, Inc.)
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                   THE YEARS ENDED DECEMBER 31, 2001 AND 2000
                                   (Continued)

NOTE 3 - COMMITMENTS

        As of  December  31,  2001  all  activities  of the  Company  have  been
conducted by  corporate  officers  from either their homes or business  offices.
Currently,  there are no  outstanding  debts owed by the  company for the use of
these facilities and there are no commitments for future use of the facilities.

NOTE 4 - STOCK SPLIT

        On May 6, 1999 the Board of Directors authorized 1,000 to 1 stock split,
changed the authorized number of shares to 100,000,000  shares and the par value
to $.001 for the  Company's  common  stock.  As a result of the  split,  999,000
shares were issued.

        On February 23, 2000 the Board of Directors authorized the acceptance of
800,000  shares of  restricted  common  stock  returned to the Company by and on
behalf of Mr.  Daniel L.  Hodges,  formerly the sole Officer and Director of the
Company.  The 800,000  shares were canceled  immediately  upon receipt.  Also on
February 23, 2000 the Board of Directors  authorized a 27 to 1 stock split. As a
result of this split the Company issued 5,200,000 shares of common stock.

        On March 19,  2002 the  Board of  Directors  approved  a 1 for 8 reverse
stock split.  All  references in the  accompanying  financial  statements to the
number of common shares and per-share  amounts have been restated to reflect the
stock split and cancellation of shares.

NOTE 5 - SUBSEQUENT EVENTS

        Subsequent  to the name change and change of direction  for the Company,
it has been pursuing  opportunities in the oil and gas industry. The Company has
entered into a letter of intent to acquire an undivided 50% interest in the Coal
Creek Basin Property and adjacent  properties in McBrien Twp,  Ontario,  Canada.
This property is being explored for coal bed methane.  The Company expects to be
able to finalize and close this  agreement  in short order.  The Company is also
pursuing other opportunities in oil and gas in Canada and California.

                                            F - 10