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 THE FISCAL YEAR ENDED: DECEMBER 31, 2004

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

                        For the transition period from To

                        Commission file number 000-27739

                           Platinum SuperYachts, Inc.
                 (Name of small business issuer in its charter)

                 NEVADA                               77-0517966
(State or other jurisdiction of incorporation) (IRS Employer Identification No.)


         Suite #1100 - 1200 W 73rd, Vancouver, British Columbia V6P 6G5
                    (Address of principal executive offices)

                                 (604) 264-8689
                (Issuer's telephone number, including area code)

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

           Securities registered pursuant to Section 12(g) of the Act:

                          Common Stock, par value $.001


<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. [ ]

The number of shares outstanding of each class of the Registrant's common stock,
as of  December  31,  2004,  was as  follows:  Common  Stock  $.001  par  value,
25,138,365 shares.

Total revenues for fiscal year ended December 31, 2004: $33,839

At December  31,  2004,  the number of shares of common  stock  outstanding  was
25,138,365.

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






<PAGE>



                                     PART I

Item 1.  DESCRIPTION OF BUSINESS.

General
Platinum SuperYachts,  Inc. intends to maintain and grow an established customer
base and  contacts,  and utilize  developed  designs and  technical  layouts and
rendering for the  marketing  and sales of luxury  yachts in worldwide  markets.
Management  is  currently  developing  a plan to raise  capital to  develop  the
business plan. No commitments to provide  continued  funding to the company have
been confirmed as of the date of this report.
Recent and continuing corporate activities  undertaken to achieve  participation
in the luxury yacht market have included;  the  corporation's  change of name to
Platinum  SuperYachts,  Inc.; and business and asset  acquisition  activities as
pertaining to SuperYachts Holdings, Inc., a Nevada corporation, and PR Marine, a
Florida corporation.
SuperYachts Holding, Inc. Acquisition
On November 15, 2002, the shareholders of Platinum SuperYachts, Inc. completed a
stock exchange agreement with SuperYachts  Holdings,  Inc. dated August 8, 2002.
In connection  with the merger,  SuperYachts  Holdings  issued 858,365 shares of
common stock in exchange for the assets and liabilities of Platinum SuperYachts,
Inc. The merger was treated as a  recapitalization;  and, in connection with the
recapitalization,  the number of shares  outstanding  prior to the  merger  were
restated  to  their  post  merger  equivalents   (increased  from  1,400,000  to
14,000,000).  Upon final  closure of the  agreement,  the separate  existence of
SuperYachts Holdings, Inc. ceased with merger into Platinum SuperYachts, Inc.

Item 2.  DESCRIPTION OF PROPERTY.
The  Company  entered  into a month to month  lease  agreement  for an office it
occupies in Vancouver,  British  Columbia,  Canada under a month to month lease.
This lease can be  canceled on two months  written  notice.  The  current  lease
requires rental payments of  approximately  $925 ($1,200  Canadian  Dollars) per
month plus applicable taxes.

Item 3.  LEGAL PROCEEDINGS.
Dieterich & Associates v. Platinum  SuperYachts,  Inc.  Christopher H Dieterich,
Esq. Has asserted in case number 04T01643 in Los Angeles County, California that
Platinum  owes his office for legal  services  rendered  the sum of $9,807.  Mr.
Dieterich has filed a "Request for Entry of Default" in that amount. The Company
is currently in  communication  with Mr.  Dieterich and is attempting to resolve
the matter.  The amount of $9,807 has been booked as an accounts  payable in the
accompanying financial statements.

Item 4.  SUBMISSION OF MATTERS T0 A VOTE OF SECURITY HOLDERS.
Not Applicable.



<PAGE>



Item 5.  MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

Market Information
Platinum SuperYachts, Inc. (formally known as Mentor On Call, Inc.) common stock
is listed on the NASDAQ  Bulletin Board under the symbol "PSUY".  The quotations
provided are for the over the counter  market which reflect  interdealer  prices
without retail mark-up,  mark-down or commissions,  and may not represent actual
transactions.  The bid prices  included  below have been  obtained  from sources
believed to be reliable:


       Quarter ended:                       High                      Low
-----------------------------          ---------------          ----------------
December 31, 2004                           0.250                    0.071
September 30, 2004                          0.700                    0.210
June 30, 2004                               0.950                    0.090
March 31, 2004                              1.250                    0.700
December 31, 2003                           2.500                    0.560
September 30, 2003                          2.875                    1.650
June 30, 2003                               2.750                    1.250
March 31, 2003                              2.800                    1.760

Holders
Platinum  SuperYachts,  Inc.  had  25,138,365  shares of common stock issued and
outstanding  as of  December  31,  2004,  which  were held by  approximately  92
shareholders.   Recent   Issuance  of  Securities  On  November  15,  2002,  the
shareholders of Platinum SuperYachts,  Inc. completed a stock exchange agreement
with  SuperYachts  Holdings,  Inc. dated August 8, 2002. In connection  with the
merger,  SuperYachts  Holdings issued 858,365 shares of common stock in exchange
for the assets and  liabilities  of Platinum  SuperYachts,  Inc.  The merger was
treated as a recapitalization; and, in connection with the recapitalization, the
number of shares  outstanding  prior to the merger  were  restated to their post
merger equivalents (increased from 1,400,000 to 14,000,000).  Upon final closure
of the agreement,  the separate existence of SuperYachts  Holdings,  Inc. ceased
with merger into Platinum SuperYachts, Inc.

On November 15, 2002, the Company issued 10,000,000 post-split restricted shares
of the company for certain  assets of PR Marine,  Inc. On February 11, 2003, the
Company issued 50,000 shares of its common stock in exchange for services.

On July 28, 2003, the Company entered into a consulting agreement with Madison &
Wall  Worldwide,  Inc. And issued 120,000 shares of its common stock in exchange
for their  services.  On  September  15,  2003,  the  Company  entered  into and
agreement  with Mirage  Investments  where the Company sold 10,000 shares of its
common stock in exchange for $15,000.  The Company also granted to the Purchaser
an option to purchase up to an additional 50,000 shares of its common stock at a
purchase  price of $2.00 per share,  to be  exercised  by January 12,  2004.

On February 3, 2004 the Company entered into an agreement where the Company sold
100,000 shares of common stock and 100,000 warrants in exchange for $50,000. The
warrant entitles the


<PAGE>



holder  therof to acquire one common share of the Company for the price of $1.00
per share on or before 12:00 noon  (Pacific  Standard Time ) February 4, 2005 by
the delivery to the Company of a written  notice of exercise  together  with the
purchase  price.  The warrants  were  determined to have no value at the time of
their issuance.

Dividend Policy
Platinum  SuperYachts,  Inc. has not paid a cash dividend on its common stock in
the past 12 months. The company does not anticipate paying any cash dividends on
its  common  stock in the  next 12 month  period.  Management  anticipates  that
earnings,  if any, will be retained to fund the company's  working capital needs
and the  implementation of its business plan. The payment of any dividends is at
the discretion of the Board of Directors.

Item 6.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS.

Overview
Platinum SuperYachts,  Inc. intends to maintain and grow an established customer
base and  contacts,  and utilize  developed  designs and  technical  layouts and
rendering for the  marketing  and sales of luxury  yachts in worldwide  markets.
Platinum SuperYachts' will design, construct,  sale, resale, and service yachts.
The company's  core business will be the building of yachts of 80 to 200 feet in
length. Platinum SuperYachts will hire subcontractors on a per job basis for the
construction of each vessel.

As of December 31, 2004,  Platinum  SuperYachts is in the development  stage and
has not commenced planned principal operations.  As a development stage company,
Platinum  SuperYachts  has  had  recurring  losses  during  this  phase  of  its
operations.  Management  is  currently  developing  a plan to raise  capital  to
develop the business plan. No commitments to provide funding to the company have
been confirmed as of the date of this report.

Financial Condition and Results of Operations
For the fiscal  year ended  December  31,  2004,  the  company had a net loss of
$1,785,953.  The net loss for 2004 primarily consists of write down of assets of
$1,338,572  consulting  fees in the  amount  of  $69,207  and  depreciation  and
amortization  of $320,608.  For the fiscal year ended  December  31,  2003,  the
company had a net loss of $825,198.  The net loss for 2003 primarily consists of
consulting fees in the amount of $492,525 and  depreciation  and amortization of
$324,357.

Liquidity and Capital Resources
For the fiscal  year ended  December  31,  2004,  the  company  used  $88,278 in
operating activities and received $94,842 from financing activities resulting in
cash and cash equivalents at the end of the year of $7,882.  For the fiscal year
ended  December 31, 2003,  the company used $35,415 in operating  activities and
received  $36,345  from  financing   activities   resulting  in  cash  and  cash
equivalents at the end of the year of $1,318.

Forward-Looking Statements
Certain statements concerning the Company's plans and intentions included herein
may  constitute  forward-looking  statements  for  purposes  of  the  Securities
Litigation  Reform Act of 1995 for which the Company  claims a safe harbor under
that Act.  There are a number of factors  that may affect the future  results of
the  Company,  including,  but not limited to, (a) the ability of the company to
obtain  additional  funding for  operations,  (b) the continued  availability of
management to develop the


<PAGE>



business  plan and (c)  successful  development  and  market  acceptance  of the
company's products.

Item 7.  FINANCIAL STATEMENTS
The  financial  statements  of the Company and  supplementary  data are included
immediately  preceding the signature page to this report. See Item 13 for a list
of the financial statements and financial statement schedules included.

Item 8.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING
AND FINANCIAL DISCLOSURE.
Not Applicable

Item 9.  DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS.
The directors and officers are as follows:

NAME                                   POSITION (S)
Ron Ruskowsky                          President and CEO
Shahid Shafiq Vohra                    Vice President and Secretary
Roger Janssen                          Director

RON  RUSKOWSKY,  PRESIDENT,  has a diverse and strong  background  in  corporate
structure,  management  and  finance.  He has been  involved  in all  aspects of
management from marketing to finance and acquisitions in both public and private
corporations  for  over 16  years.

SHAHID SHAFIQ VOHRA, VICE PRESIDENT AND SECRETARY,  has extensive experience and
reputation  in the  yachting  community.  Mr.  Vohra  consistently  provides the
negotiating  and marketing  skills  necessary to achieve the best terms for both
the manufacturer and customer.

ROGER   JANSSEN,   DIRECTOR,   has  over  twenty  years  of  experience  in  the
manufacturing  industry.  For the past fourteen  years he has owned and operated
his own business in the greater Seattle area, with clients,  including;  Boeing,
Microsoft,  Starbucks  Corporation,  Precor and Eldec.  Mr.  Janssen  has guided
several  manufacturing  companies  during  their start up phase and has traveled
internationally as a manufacturing consultant.

There  are no  relationships  by blood or  marriage  amongst  the  officers  and
directors of Platinum  SuperYachts,  Inc. The  directors  shall be elected at an
annual meeting of the stockholders  and except as otherwise  provided within the
Bylaws of Platinum  SuperYachts,  Inc., as  pertaining to vacancies,  shall hold
office until his successor is elected and qualified.

AUDIT COMMITTEE FINANCIAL EXPERT
The Company's  board of directors  does not have an "audit  committee  financial
expert," within the meaning of such phrase under  applicable  regulations of the
Securities and Exchange Commission, serving on its audit committee. The board of
directors  believes  that all  members of its audit  committee  are  financially
literate and  experienced in business  matters,  and that one or more members of
the  audit  committee  are  capable  of  (I)  understanding  generally  accepted
accounting  principles  ("GAAP") and financial  statements,  (ii)  assessing the
general  application  of GAAP  principles in connection  with our accounting for
estimates, accruals and reserves, (iii) analyzing and evaluating


<PAGE>



our  financial   statements,   (iv)  understanding  our  internal  controls  and
procedures  for  financial  reporting;  and (v)  understanding  audit  committee
functions,  all of which are attributes of an audit committee  financial expert.
However,  the board of directors  believes that there is not any audit committee
members who has obtained these  attributes  through the experience  specified in
the SEC's definition of "audit committee  financial expert." Further,  like many
small  companies,  it is  difficult  for the Company to attract and retain board
members who qualify as "audit committee financial experts, " and competition for
these  individuals  is  significant.  The board  believes that its current audit
committee is able to fulfill its role under SEC regulations despite not having a
designated "audit committee financial expert."

Item 10.  EXECUTIVE COMPENSATION.

Compensation Summary
The  following  sets forth the  aggregate  cash  compensation  paid for services
rendered during the last fiscal year.
<TABLE>
<CAPTION>

                                                             Fiscal        Salary               Other
                Name and Principal Position                   Year      Compensation     Bonus     Compensation
<S>                                                           <C>             <C>          <C>           <C>
Ron Ruskowsky President and CEO, Director                     2004            0            0             0
Shahid Shafiq Vohra Vice President and                        2004            0            0             0
Secretary, Director
Roger Janssen Director                                        2004            0            0             0
</TABLE>

NOTES:
None  of  the  company's  officers  and/or  directors   currently  receives  any
compensation for their respective services rendered to the company. Officers and
directors have agreed to act without  compensation until authorized by the Board
of  Directors,  which is not  expected to occur until the company has  generated
sufficient revenues from its operations.

As of December  31,  2004,  we had no group life,  health,  hospitalization,  or
medical reimbursement or relocation plans in effect.  Further, we had no pension
plans  or  plans  or  agreements  which  provide  compensation  on the  event of
termination of employment or change in control of us.

Compensation of Directors
There was no compensation paid to any directors of Platinum SuperYachts, Inc. as
director's fees.

Employment Agreements
No formal  employment  agreements  currently exist with any officer or employee.

Long-Term Incentive Plan
None

Section 16(a) Beneficial Ownership Reporting Compliance
To the best  knowledge of the  Company,  based on reports  received  pursuant to
rule16a-3(e)  of the1934 act, all reports  required to be filed pursuant to rule
16a-3(e) were filed as of the date of this report.




<PAGE>


Item 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

The security  ownership of the  management  of the  registrant as of the date of
this report is as follows:
<TABLE>
<CAPTION>
Title of Class               Beneficial Owner                                 Amount                 Percent of
                                                                              Owned                    Class

<S>                          <C>                                            <C>                        <C>
Common Shares                Ron Ruskowsky President and CEO                3,500,000                  14.0 %
Common Shares                Shahid S. Vohra Vice President and             9,000,000     (1)          36.0 %
                             Secretary
Common Shares                Roger Janssen Director                          500,000                   2.0 %
</TABLE>

All Officers and Directors as a group 13,000,000 52.0 % The shareholders  having
beneficial ownership of more than 5% of the issued and outstanding shares of the
company's common stock as of the date of this report is as follows:
<TABLE>
<CAPTION>

Title of Class          Beneficial Owner                                      Amount                 Percent of
                                                                              Owned                    Class
<S>                          <C>                                            <C>                        <C>
Common Shares           Erica S. VohraLOB 14 Office 432                     4,000,000      (1)         16.0 %
                        Jafz, Dubai, P.O. Box 16760
                        UAE
</TABLE>

(1) Note:  Shahid S. Vohra,  Vice President,  Secratary of Platinum  SuperYachts
Inc. and Erica S. Vohra are husband and wife, collectively  controlling 36.0% of
the  outstanding  common  shares.  As of  the  date  of  this  report,  Platinum
SuperYachts,  Inc. has issued and outstanding  25,138,365 shares of common stock
amongst a group of 92 shareholders.

Item 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

As of December 31, 2004 and 2003, shareholders have advanced the Company $63,345
and  $21,345,  respectively,  payable on demand  and does not carry an  interest
rate.

During  the year  2003 the  Company  paid  Shahhid  Vohra,  Vice  President  and
Secretary, $60,000 in exchange for consulting services.

As of December 31, 2004 and 2003 the Company owed Santeo Financial  $123,200 and
$65,000 respectfully for consulting services.  Ron Ruskowsky,  President and CEO
of the Company is also the President of Santeo Financial.


<PAGE>

Item 13.  EXHIBITS AND REPORTS ON FORM 8-K.

         (a) The following documents are filed as part of this report.

<TABLE>
<CAPTION>
1. FINANCIAL STATEMENTS                                                                                  PAGE
<S>                                                                                                      <C>
Independent Auditor's Report                                                                              F-1
Balance Sheets,
  December 31, 2004 and 2003                                                                              F-3
Statements of Operations,
  For the Years Ended December 31, 2004 and 2003 and for the
  Cumulative Period from August 23, 2002 (Inception) to December 31, 2004                                 F-4
Statements of Stockholders' Equity,
  For the Period from August 23, 2002 (inception) to December 31, 2004                                    F-5
Statements of Cash Flows,
  For the Years Ended December 31, 2004 and 2003 and for the
  Cumulative Period from August 23, 2002 (Inception) to December 31, 2004                                 F-6
Notes to Financial Statements                                                                             F-8
</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
Number            Title of Document

3.1      Articles of Incorporation(1)
3.2      By-laws(1)
31       Certification  Pursuant  to Section  302 of the  Sarbanes-Oxley  Act of
         2002.
32       Certification  Pursuant  to Section  906 of the  Sarbanes-Oxley  Act of
         2002.

(1) Incorporated by reference.

No reports on Form 8-K were filed.


<PAGE>

ITEM 14. CONTROLS AND PROCEDURES

         The Company's Chief Executive  Officer and Chief Financial  Officer are
responsible for establishing and maintaining  disclosure controls and procedures
for the Company.

         (a) Evaluation of Disclosure Controls and Procedures

         As of the end of the period covered by this report, the Company carried
         out an evaluation,  under the supervision and with the participation of
         the Company's  management,  including the Company's  President,  of the
         effectiveness  of the design and operation of the Company's  disclosure
         controls and  procedures  pursuant to Rule 13a-15 under the  Securities
         Exchange Act of 1934, as amended (the "Exchange  Act").  Based upon the
         evaluation,  the Company's  President  concluded that, as of the end of
         the period,  the  Company's  disclosure  controls and  procedures  were
         effective in timely  alerting him to material  information  relating to
         the Company  required  to be  included in the reports  that the Company
         files and submits pursuant to the Exchange Act.

         (b) Changes in Internal Controls

         Based  on his  evaluation  as of  December  31,  2004,  there  were  no
         significant  changes in the Company's  internal controls over financial
         reporting  or in any other  areas that could  significantly  affect the
         Company's  internal controls  subsequent to the date of his most recent
         evaluation, including any corrective actions with regard to significant
         deficiencies and material weaknesses.

ITEM 15. PRINCIPAL ACCOUNTANT FEES AND SERVICES
The  following is a summary of the fees billed to us by Robison,  Hill & Company
for  professional  services  rendered for the years ended  December 31, 2004 and
2003:


           Service                       2004                   2003
------------------------------    ------------------     ------------------
Audit Fees                        $           11,970     $            9,960
Audit-Related Fees                                 -                      -
Tax Fees                                         240                    240
All Other Fees                                     -                      -
                                  ------------------     ------------------
Total                             $           12,210     $           10,200
                                  ==================     ==================


<PAGE>

AUDIT FEES.  Consists of fees billed for professional  services rendered for the
audits  of  our  consolidated  financial  statements,  reviews  of  our  interim
consolidated  financial  statements  included  in  quarterly  reports,  services
performed in connection  with filings with the Securities & Exchange  Commission
and related  comfort  letters and other  services that are normally  provided by
Robison,  Hill & Company in connection with statutory and regulatory  filings or
engagements. Tax Fees. Consists of fees billed for professional services for tax
compliance,  tax advice and tax  planning.  These  services  include  assistance
regarding federal, state and local tax compliance and consultation in connection
with various  transactions  and  acquisitions.

Audit  Committee  Pre-Approval of Audit and  Permissible  Non-Audit  Services of
Independent Auditors

The Audit Committee, is to pre-approve all audit and non-audit services provided
by  the  independent  auditors.  These  services  may  include  audit  services,
audit-related  services,  tax services  and other  services as allowed by law or
regulation.  Pre-approval  is  generally  provided  for up to one  year  and any
pre-approval  is detailed as to the  particular  service or category of services
and is generally  subject to a specifically  approved  amount.  The  independent
auditors  and  management  are  required  to  periodically  report  to the Audit
Committee regarding the extent of services provided by the independent  auditors
in accordance  with this  pre-approval  and the fees incurred to date. The Audit
Committee may also pre-approve  particular services on a case-by-case basis.

The  Audit  Committee  pre-approved  100%  of the  Company's  2004  audit  fees,
audit-related  fees,  tax fees,  and all other fees to the  extent the  services
occurred  after May 6, 2003,  the effective  date of the Securities and Exchange
Commission's final pre-approval rules.


<PAGE>

                           PLATINUM SUPERYACHTS, INC.

                          (A DEVELOPMENT STAGE COMPANY)

                                       -:-

                          INDEPENDENT AUDITOR'S REPORT

                           DECEMBER 31, 2004 AND 2003






<PAGE>






                                    CONTENTS


                                                                          Page

Independent Auditor's Report...............................................F - 1

Balance Sheets
  December 31, 2004 and 2003...............................................F - 3

Statements of Operations
  For the Years Ended December 31, 2004 and 2003 and for the
  Cumulative Period from August 23, 2002 (Inception) to December 31, 2004..F - 4

Statement of Stockholders' Equity
  For the Period from August 23, 2002 (Inception) to December 31, 2004.....F - 5

Statements of Cash Flows
  For the Years Ended December 31, 2004 and 2003 and for the
  Cumulative Period from August 23, 2002 (Inception) to December 31, 2004..F - 6

Notes to Financial Statements..............................................F - 8



<PAGE>











                          INDEPENDENT AUDITOR'S REPORT


Platinum SuperYachts, Inc.
(A Development Stage Company)


         We  have   audited  the   accompanying   balance   sheets  of  Platinum
SuperYachts, Inc.(a development stage company) as of December 31, 2004 and 2003,
and the related  statements of  operations,  cash flows for the years then ended
and the  cumulative  since August 23, 2002  (inception) to December 31, 2004 and
the  statement  of  stockholders'  equity from August 23,  2002  (inception)  to
December 31, 2004.  These  financial  statements are the  responsibility  of the
Company's  management.  Our  responsibility  is to  express  an opinion on these
financial statements based on our audits.

         We conducted our audits in accordance  with the standards of the Public
Company Accounting Oversight Board (United States). 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  Platinum
SuperYachts,  Inc. (a  development  stage  company) as of December  31, 2004 and
2003,  and the results of its  operations  and its cash flows for the years then
ended in conformity with accounting  principles generally accepted in the United
States of America.


                                      F - 1

<PAGE>




         The accompanying  financial statements have been prepared assuming that
the Company  will  continue as a going  concern.  As  discussed in Note 4 to the
financial statements,  the Company has suffered recurring losses from operations
and has a net capital  deficiency that raise substantial doubt about its ability
to continue as a going  concern.  Management's  plans in regard to these matters
are also  described  in Note 4. The  financial  statements  do not  include  any
adjustments that might result from the outcome of this uncertainty.


                                                    Respectfully submitted,



                                                    /s/ Robison, Hill & Co.
                                                    Certified Public Accountants

Salt Lake City, Utah
March 28, 2005


                                      F - 2

<PAGE>



                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                                 BALANCE SHEETS
<TABLE>
<CAPTION>
                                                                                          December 31,
ASSETS                                                                              2004                2003
                                                                             ------------------  ------------------
<S>                                                                          <C>                 <C>
Current Assets:
Cash & Cash Equivalents                                                      $            7,882  $            1,318
Taxes Receivable                                                                            414                 684
Notes Receivable                                                                              -             150,000
Inventory - Work in Process                                                              10,000                   -
Supplies                                                                                      -               5,000
                                                                             ------------------  ------------------
     Total Current Assets                                                                18,296             157,002

Fixed Assets:
Fixed Assets                                                                             84,190             163,000
Less Accumulated Depreciation                                                           (50,453)            (27,166)
                                                                             ------------------  ------------------
     Total Fixed Assets                                                                  33,737             135,834

Other Assets:
Prepaid Expenses                                                                          1,200               2,861
Deposit                                                                                  53,317                   -
Intangible Assets                                                                       785,239           1,895,001
Less Accumulated Amortization                                                          (640,238)           (342,917)
                                                                             ------------------  ------------------
     Total Other Assets                                                                 199,518           1,554,945
                                                                             ------------------  ------------------

     Total Assets                                                            $          251,551  $        1,847,781
                                                                             ==================  ==================

LIABILITIES & STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts Payable                                                             $           98,829  $           81,074
Unearned Revenue                                                                         18,926                   -
Related Party Payables                                                                  123,200              65,000
Shareholder Loans                                                                        63,345              21,345
                                                                             ------------------  ------------------
     Total Liabilities                                                                  304,300             167,419

Stockholders' Equity:
  Common Stock, Par value $.001
    Authorized 100,000,000 shares,
    Issued 25,138,365 and 25,038,365
    Shares at December 31, 2004 and 2003                                                 25,138              25,038
  Paid-In Capital                                                                     2,598,902           2,546,160
  Deficit Accumulated During the
    Development Stage                                                                (2,676,789)           (890,836)
                                                                             ------------------  ------------------
     Total Stockholders' Equity                                                         (52,749)          1,680,362
                                                                             ------------------  ------------------

     Total Liabilities and Stockholders' Equity                              $          251,551  $        1,847,781
                                                                             ==================  ==================
</TABLE>

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

                                      F - 3

<PAGE>



                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                            STATEMENTS OF OPERATIONS

<TABLE>
<CAPTION>
                                                                                                     Cumulative
                                                                                                       since
                                                                                                     August 23,
                                                                                                        2002
                                                                   For the years ended              inception of
                                                                      December 31,
                                                                                development
                                                                2004                2003               stage
                                                          -----------------  ------------------  ------------------
<S>                                                       <C>                <C>                 <C>
Revenues                                                  $          33,839  $           69,000  $          102,839
Cost of Goods Sold                                                   21,500                   -              21,500
                                                          -----------------  ------------------  ------------------
Gross Profit                                                         12,339              69,000              81,339

Expenses:
   Consulting Fees                                                   69,207             492,525             561,732
   Depreciation & Amortization                                      320,608             324,357             644,965
   General & Administrative                                          69,681              77,316             212,623
                                                          -----------------  ------------------  ------------------

     Net Operating Loss                                            (447,157)           (825,198)         (1,337,981)

Other Income (Expenses)
   Interest, Net                                                       (224)                  -                (236)
   Write Down of Assets                                          (1,338,572)                  -          (1,338,572)
                                                          -----------------  ------------------  ------------------

     Net Loss                                             $      (1,785,953) $         (825,198) $       (2,676,789)
                                                          =================  ==================  ==================

Basic & Diluted loss per share                            $          (0.07)  $           (0.03)
                                                          =================  ==================

Waited Average Shares                                            25,129,050          24,902,733
                                                          =================  ==================
</TABLE>




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

                                      F - 4

<PAGE>



                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                        STATEMENT OF STOCKHOLDERS' EQUITY
      FOR THE PERIOD FROM AUGUST 23, 2002 (INCEPTION) TO DECEMBER 31, 2004

<TABLE>
<CAPTION>
                                                                                                                         Deficit
                                                                                                                       Accumulated
                                                                                                                      Since August
                                                                                                                        23, 2002
                                                                                                                      Inception of
                                                         Common Stock              Paid-In            Retained           Development
                                                     Shares        Par Value       Capital             Deficit             Stage
                                                   -----------    -----------    -----------     -------------------    -----------
<S>                                                 <C>           <C>            <C>             <C>                    <C>
Balance at August 23, 2002
  (Inception)                                       14,000,000    $    14,000    $      --       $              --      $      --

Issued stock in an asset acquisition
  agreement                                         10,000,000         10,000      2,233,000                    --             --
Issued stock in association with
  plan of reorganization                               858,365            858        (72,260)                   --             --
Net Loss                                                  --             --             --                      --          (65,638)
                                                   -----------    -----------    -----------     -------------------    -----------

Balance at December 31, 2002                        24,858,365         24,858      2,160,740                    --          (65,638)

Issued stock in association with private
   placement                                            10,000             10         14,990                    --             --
Issued stock in exchange for services                  170,000            170        370,430                    --             --
Net Loss                                                  --             --             --                      --         (825,198)
                                                   -----------    -----------    -----------     -------------------    -----------

Balance at December 31, 2003                        25,038,365         25,038      2,546,160                    --         (890,836)

Issued stock in exchange for cash                      100,000            100         49,900                    --             --
Contributed capital                                       --             --            2,842                    --             --
Net Loss                                                  --             --             --                      --       (1,785,953)
                                                   -----------    -----------    -----------     -------------------    -----------

Balance at December 31, 2004                        25,138,365    $    25,138    $ 2,598,902     $              --      $(2,676,789)
                                                   ===========    ===========    ===========     ===================    ===========
</TABLE>

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

                                      F - 5

<PAGE>



                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                            STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                                                                                     Cumulative
                                                                                                       Since
                                                                                                     August 23,
                                                                                                        2002
                                                                    For the years ended             Inception of
                                                                        December 31,                Development
                                                                  2004               2003              Stage
                                                            ----------------- ------------------ ------------------
<S>                                                         <C>               <C>                <C>
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net Loss                                                    $      (1,785,953)$         (825,198)$       (2,676,789)
Adjustments to reconcile net income (loss) to
  net cash provided (used in) operating activities:
Depreciation & Amortization                                           320,608            324,357            690,691
Write down of marketing material                                        5,000             30,000             35,000
Write down of assets                                                1,338,572                  -          1,338,572
Stock issued for start up costs                                             -                  -             12,600
Stock issued for services                                                   -            370,600            370,600
(Increase) decrease in taxes receivable                                   270               (684)              (414)
(Increase) decrease in inventory                                      (10,000)                 -            (10,000)
(Increase) decrease in prepaid expenses                                 1,661             (2,861)            (1,200)
(Increase) decrease in deposits                                       (53,317)                 -            (53,317)
Increase (decrease) in unearned revenue                                18,926                  -             18,926
Increase (decrease) in accounts payable                                75,955             68,371            150,626
                                                            ----------------- ------------------ ------------------
Net cash provided by (used in) operating activities                   (88,278)           (35,415)          (124,705)
                                                            ----------------- ------------------ ------------------

CASH FLOWS FROM INVESTING
ACTIVITIES:
  Net cash provided by investing activities                                 -                  -                  -
                                                            ----------------- ------------------ ------------------
</TABLE>

                                      F - 6

<PAGE>



                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                            STATEMENTS OF CASH FLOWS
                                   (Continued)

<TABLE>
<CAPTION>
                                                                                                     Cumulative
                                                                                                       Since
                                                                                                     August 23,
                                                                                                        2002
                                                                    For the years ended             Inception of
                                                                        December 31,                Development
                                                                  2004               2003              Stage
                                                            ----------------- ------------------ ------------------
<S>                                                         <C>               <C>                <C>
CASH FLOWS FROM FINANCING
ACTIVITIES:
Loan from shareholders                                      $          50,000 $           21,345 $           71,345
Payment of loan from shareholders                                      (8,000)                 -             (8,000)
Contributed capital                                                     2,842                  -              2,842
Stock issued in exchange for cash                                      50,000             15,000             66,400
                                                            ----------------- ------------------ ------------------
  Net cash provided by financing activities                            94,842             36,345            132,587
                                                            ----------------- ------------------ ------------------

Net (Decrease) Increase in Cash and Cash
Equivalents                                                             6,564                930              7,882
Cash and Cash Equivalents at Beginning of Period                        1,318                388                  -
                                                            ----------------- ------------------ ------------------
Cash and Cash Equivalents at End of Period                  $           7,882 $            1,318 $            7,882
                                                            ================= ================== ==================



SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
-------------------------------------------------
Cash paid during the year for:
  Interest                                                   $             224  $              -   $             12
  Income taxes                                               $               -  $              -   $              -

SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING
ACTIVITIES:
Stock issued in plan of reorganization                       $               -  $               -  $            858
Stock issued in asset acquisition agreement                  $               -  $               -  $      2,243,000
</TABLE>








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

                                      F - 7

<PAGE>



                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEARS ENDED DECEMBER 31, 2004 AND 2003


NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

         This summary of  accounting  policies for  Platinum  SuperYachts,  Inc.
(formerly  Mentor On Call,  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
October  22,  1996 under the name PSM Corp.  The  Company  ceased all  operating
activities  during  the period  from  October  22,  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 January 11, 2000, the company  changed its
name to Mentor On Call, Inc.

         On  October  3,  2002,  the  Company   changed  its  name  to  Platinum
SuperYachts, Inc. in anticipation of a merger with SuperYachts Holdings, Inc. (a
Nevada  Corporation  that was  incorporated on August 13, 2002). On November 15,
2002,  the  shareholders  of the Platinum  SuperYachts,  Inc.  completed a stock
exchange  agreement with  SuperYachts  Holdings,  Inc. dated August 8, 2002. The
merger was accounted for as a reverse merger,  with  SuperYachts  Holdings being
treated as the acquiring entity for financial reporting purposes.  In connection
with this merger,  SuperYachts  Holdings  issued  858,365 shares of common stock
(100%) in exchange for the assets and  liabilities of the Platinum  SuperYachts,
Inc. (formerly Mentor On Call, Inc.).

         For  financial  reporting  purposes,  Platinum  SuperYachts,  Inc.  was
considered a new reporting entity on November 15, 2002.

         The merger was recorded as a recapitalization.  In connection with this
recapitalization, the number of shares outstanding prior to the merger have been
restated to their post merger  equivalents  (increased from 1,400,000  shares to
14,000,000).  All  references in the  accompanying  financial  statements to the
number of Common  shares and  per-share  amounts for 2002 have been  restated to
reflect the equivalent number of post merger shares.

         As of December 31, 2004, the Company is in the development  stage,  and
has not commenced planned principal operations.



                                      F - 8

<PAGE>



                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEARS ENDED DECEMBER 31, 2004 AND 2003
                                   (Continued)

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)

Nature of Business

         The Company completed an Asset Acquisition  Agreement (the "Agreement")
with PR Marine Inc., a Florida Corporation on November 15, 2002.

         The Company will design, construct,  sale, re-sale and services yachts.
Our core  business  will be the  building of yachts in excess of 80 to 200 feet.
Platinum  SuperYachts  will  hire  subcontractors  on a per  job  basis  for the
construction of the vessel. We pay these subcontractors when the client pays us.

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.

Depreciation and Amortization

         Fixed   assets  are  recorded  at  cost  and   depreciated   using  the
straight-line  method over the estimated  useful lives of the assets which range
from three to seven years.  Fixed assets  consisted of the following at December
31, 2004 and 2003:

                                      2004               2003
                                 ---------------   -----------------
Yacht Models                     $        38,000   $          38,000
Hull Display                              46,190             125,000
                                 ---------------   -----------------
                                          84,190             163,000
Less accumulated depreciation            (50,453)            (27,166)
                                 ---------------   -----------------

Total                            $        33,737   $         135,834
                                 ===============   =================

         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.

         Total  depreciation  expense for the years ended  December 31, 2004 and
2003 was $23,286 and $23,286 respectively.

                                      F - 9

<PAGE>



                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEARS ENDED DECEMBER 31, 2004 AND 2003
                                   (Continued)

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)

         The Company has adopted the Financial  Accounting  Standards Board SFAS
No., 142, "Goodwill and Other Intangible Assets." SFAS 142 requires, among other
things,  that companies no longer amortize  goodwill,  but instead test goodwill
for  impairment  at least  annually.  In addition,  SFAS 142  requires  that the
Company identify reporting units for the purposes of assessing  potential future
impairments of goodwill,  reassess the useful lives of other existing recognized
intangible   assets,  and  cease  amortization  of  intangible  assets  with  an
indefinite  useful life.  An  intangible  asset with an  indefinite  useful life
should be tested for impairment in accordance with the guidance in SFAS 142.

Intangible Assets consisted of the following at December 31, 2004 and 2003:

<TABLE>
<CAPTION>

           Intangible Asset                   2004               2003           Amortization
                                                                                   Period
--------------------------------------- -----------------  ----------------- ------------------
<S>                                     <C>                <C>                    <C>
Website                                 $          45,000  $          45,000      2 Years
Yacht Blueprints                                  640,238          1,600,000      7 Years
Client Lists                                      100,000            250,000     Indefinite
E-Learning System                                       1                  1     Indefinite
                                        -----------------  -----------------
                                                  785,239          1,895,001
Less accumulated amortization                    (640,238)          (342,917)
                                        -----------------  -----------------

Total                                   $         145,001  $       1,552,084
                                        =================  =================
</TABLE>

         Total  amortization  expense for the years ended  December 31, 2004 and
2003 was $297,321 and $301,072 respectively.

         The estimated amortization for the next five years is as follows:


2005                                         $            29,733
2006                                                      29,733
2007                                                      29,733
2008                                                      29,733
2009                                                      26,068
                                             -------------------
Total                                        $           145,000
                                             ===================


                                     F - 10

<PAGE>



                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEARS ENDED DECEMBER 31, 2004 AND 2003
                                   (Continued)

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)

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.

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.

Earnings (Loss) per Share

         Basic loss per share has been  computed  by  dividing  the loss for the
period  applicable to the common  stockholders by the weighted average number of
common  shares  outstanding  during the years.  There were no common  equivalent
shares outstanding at December 31, 2004 and 2003.

Stock Compensation for Non-Employees

         The  Company  accounts  for the fair  value of its  stock  compensation
grants for  non-employees  in accordance with FASB Statement 123. The fair value
of each grant is equal to the market price of the Company's stock on the date of
grant if an active  market  exists or at a value  determined  in an arms  length
negotiation between the Company and the non-employee.

NOTE 2 - WRITE DOWN OF ASSETS

         As of December 31, 2004 the Company has written down the value of fixed
and  intagible  assets  on the  accompanying  balance  sheet.  The  Company  has
determined that the Hull Display is showing  increased signs of wear, based upon
their  estimation it has been the Hull Display has been written down by $78,810.
The Company has also determined that the Yacht Blueprints should be written down
as a result in the  changing  tastes fo the market  and the need to redraft  the
blueprints  to  reflect  these  changes,  as a result the  Blueprints  have been
written down by $959,762.  Management has determined  that the client lists that
have a carrying  value of $150,000  should be written  down to $0 as they are no
longer  expected to provide any future  value.  The Company has also written off
the amount of notes receivable from the balance sheet in the amount of $150,000.
The corresponding  expenses to the write down of these assets have been recorded
as a expense in the statement of operations in the amount of $1,338,572.

                                     F - 11

<PAGE>



                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEARS ENDED DECEMBER 31, 2004 AND 2003
                                   (Continued)

NOTE 3 - INCOME TAXES

         As  of  December  31,  2004,  the  Company  had a  net  operating  loss
carryforward for income tax reporting purposes of approximately  $9,720,000 that
may be offset against future taxable income through 2023. Current tax laws limit
the amount of loss  available to be offset  against future taxable income when a
substantial  change in  ownership  occurs.  Therefore,  the amount  available to
offset future taxable income may be limited. No tax benefit has been reported in
the financial statements, because the Company believes there is a 50% or greater
chance the  carryforwards  will expire  unused.  Accordingly,  the potential tax
benefits of the loss  carryforwards  are offset by a valuation  allowance of the
same amount.


                                     2004                2003
                              ------------------  ------------------
Net Operating Losses                   3,304,818           2,717,381
Accrued Consulting Fees                  (41,888)            (22,100)
Valuation Allowance                   (3,262,930)         (2,695,281)
                              ------------------  ------------------
                                               -                   -
                              ==================  ==================

         The provision for income taxes differs from the amount  computed  using
the federal US statutory income tax rate as follows:


                                                   2004              2003
                                             ---------------  ----------------
Provision (Benefit) at US Statutory Rate            (587,437)         (302,667)
Accrued Consulting Fees                               19,788            22,100
Increase (Decrease) in Valuation Allowance           567,649           280,567
                                             ---------------  ----------------
                                                           -                 -
                                             ===============  ================

         The Company  evaluates its valuation  allowance  requirements  based on
projected future operations.  When  circumstances  change and causes a change in
management's  judgement  about the  recoverability  of deferred tax assets,  the
impact of the change on the valuation is reflected in current income.

NOTE 4 - DEVELOPMENT STAGE COMPANY AND GOING CONCERN

         The Company has not begun principal  operations and as is common with a
development  stage  company,  the Company has had  recurring  losses  during its
development stage.



                                     F - 12

<PAGE>



                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEARS ENDED DECEMBER 31, 2004 AND 2003
                                   (Continued)

NOTE 4 - DEVELOPMENT STAGE COMPANY AND GOING CONCERN (Continued)

         Since  inception,  the  Company  has  incurred  recurring  losses  from
operations  and has an  accumulated  deficit of $2,676,789  and $890,836 for the
years ended December 31, 2004 and 2003. This condition raises  substantial doubt
about the Company's ability to continue as a going concern.

         Continuation  of the  Company  as a going  concern  is  dependent  upon
obtaining  additional  working  capital and management has developed a strategy,
which it believes will  accomplish  this  objective  through  additional  equity
funding which will enable the Company to operate in the future.  However,  there
can be no  assurance  that the Company  will be  successful  with its efforts to
raise  additional  capital.  The  inability of the Company to secure  additional
financing  in the near term  could  adversely  impact  the  Company's  business,
financial position and prospects.

NOTE 5 - LEASE AGREEMENT

         The Company entered into a month to month lease agreement for an office
it occupies in Vancouver, British Columbia, Canada under a month to month lease.
This lease can be  canceled on two months  written  notice.  The  current  lease
requires rental payments of  approximately  $925 ($1,200  Canadian  Dollars) per
month plus applicable  taxes.  During the years ended December 31, 2004 and 2003
the company had $11,746 and $8,763 in rent expense.

NOTE 6 - RELATED PARTY TRANSACTIONS

         As of  December  31,  2004 and 2003,  shareholders  have  advanced  the
Company $63,345 and $21,345, respectively,  payable on demand and does not carry
an  interest  rate.  This  transaction  has been  recorded  in the  accompanying
financial statements as Shareholder loans.

         During 2003, the year the Company paid Shahhid  Vahora,  Vice President
and Secretary, $60,000 in exchange for consulting services.

         As of December  31, 2004 and 2003,  the Company  owed Santeo  Financial
$123,200  and $65,000  respectively  for  consulting  services.  Ron  Ruskowsky,
President and CEO of the Company is also the President of Santeo Financial.



                                     F - 13

<PAGE>


                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEARS ENDED DECEMBER 31, 2004 AND 2003
                                   (Continued)

NOTE 7 - COMMON STOCK AND WARRANTS

         On  September  15, 2003 the Company  entered  into and  agreement  with
Mirage  Investments  where the Company sold 10,000 shares of its common stock in
exchange  for $15,000.  The Company  also granted to the  Purchaser an option to
purchase up to an  additional  50,000  shares of its common  stock at a purchase
price of $2.00 per share, to be exercised by January 12, 2004.

         On February 3, 2004 the Company  entered  into an  agreement  where the
Company sold 100,000 shares of common stock and 100,000 warrants in exchange for
$50,000.  The warrant  entitles the holder therof to acquire one common share of
the  Company for the price of $1.00 per share on or before  12:00 noon  (Pacific
Standard  Time ) February  4, 2005 by the  delivery  to the Company of a written
notice  of  exercise  together  with  the  purchase  price.  The  warrants  were
determined to have no value at the time of their issuance.

NOTE 8 - PENDING LITIGATION

         Dieterich & Associates  v.  Platinum  SuperYachts,  Inc.  Christopher H
Dieterich,  Esq.  Has  asserted in case number  04T01643 in Los Angeles  County,
California that Platinum owes his office for legal services  rendered the sum of
$9,807. Mr. Dieterich has filed a "Request for Entry of Default" in that amount.
The Company is currently in  communication  with Mr. Dieterich and is attempting
to resolve  the  matter.  The amount of $9,807  has been  booked as an  accounts
payable in the accompanying financial statements.

                                     F - 14

<PAGE>





                                   SIGNATURES

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

                                            PLATINUM SUPERYACHTS, INC.


Dated: March 29, 2005           By  /S/     Ron Ruskowsky
                                --------------------------------------------
                                Ron Ruskowsky,
                                President, CEO
                                Principal Executive and Accounting Officer



         In accordance  with the Exchange Act, this report has been signed below
by the following  persons on behalf of the  registrant and in the capacities and
on March 29, 2005.

Dated: March 29, 2005

                                By  /S/     Shahid Shafiq Vohra
                                -------------------------------
                                Shahid Shafiq Vohra,
                                Vice President

                                By  /S/     Roger Janssen
                                -------------------------
                                Roger Janssen,
                                Director,