# U.S.
SECURITIES AND EXCHANGE COMMISSION

# Washington,
D.C. 20549

# FORM 10-KSB

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

For the fiscal year ended:
December 31, 2000

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:
0-22083

# GLOBAL MED
TECHNOLOGIES, INC.
(Name of small business issuer in its charter)

Colorado   
              
              
              
              
            
        
        
        84-1116894
              
            
    (State or other jurisdiction of    
       
          
           
           
          
        
   (I.R.S. Employer Identification No.)
              
            
     incorporation or organization)   
             
      
              
              
              
              
            
            
            
   12600 West Colfax Suite C-420 Lakewood, Colorado 80215
            
            
              
              
              
            
      (Address of principal executive offices) 
(Zip Code)
              
              
Issuer's telephone number:  (303) 238-2000
              
              
Securities registered under Section 12(b) of the Act:  
None
              
              
Securities registered under Section 12(g) of the Act:

Common Stock, $.01 par value
Class A Common Stock Purchase Warrants

Check whether the issuer
(1) filed all reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 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 at least the past 90 days. Yes
[X]  No [  ]

Check if there is no
disclosure of delinquent filers pursuant to Item 405 of Regulation S-B contained
herein, and will not 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. [  ] 
Issuer's revenues for its most recent fiscal year: $4,379,000.
Aggregate market value of voting stock held by non-affiliates as of April 10,
2001: $5,004,193 based on the closing bid of $0.65 per share as of that date.
Shares of common stock, $.01 par value, outstanding as of April 10, 2001:
22,236,386.

Documents incorporated by
reference: See Part IV, Item 13(a), and EXHIBIT INDEX on page 31 for
a listing of documents incorporated by reference into this Annual Report on FORM
10-KSB.

---

# GLOBAL MED
TECHNOLOGIES, INC.

# FORM 10-KSB

# DECEMBER 31,
2000

# TABLE OF
CONTENTS

# PART I

`Item                                                                        Page

1.   Description of Business ...............................................   3

2.   Description of Property ...............................................   9

3.   Legal Proceedings .....................................................   9

4.   Submission of Matters to a Vote of Security Holders ...................   9`

# PART II

`5.   Market for Common Equity and Related Stockholder Matters ..............  10

6.   Management's Discussion and Analysis ..................................  11

7.   Financial Statements ..................................................  15

8.   Changes In and Disagreements with Accountants on Accounting and
     Financial Disclosure ..................................................  16`

# PART III

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

10.  Executive Compensation ................................................  20

11.  Security Ownership of Certain Beneficial Owners and Management ........  24

12.  Certain Relationships and Related Transactions ........................  27`

# PART IV

`13.  Exhibits and Reports on Form 8-K ......................................  28

     Signatures ............................................................  29`

---

# PART I

## ITEM 1.
DESCRIPTION OF BUSINESS

## BUSINESS
DEVELOPMENT

Global Med Technologies,
Inc. was organized under the laws of the State of Colorado in December
1989.

In 1995, the Company merged
with the Wyndgate Group, Inc. (Wyndgate). Wyndgate operates as a
division of Global Med Technologies, Inc. and designs, develops, markets and
supports information management software products for blood banks, hospitals,
centralized transfusion centers and other healthcare related facilities.

During 1999, the Company
formed a majority-owned subsidiary, PeopleMed.com, Inc. (PeopleMed),
a Colorado corporation, to develop a software application designed to give HMO
providers and other third party payers access to clinical information for
chronic disease patients. This application allows doctors and other medical
employees access to a patients history.

PeopleMed offers chronic
disease management as an Application Service Provider (ASP).
PeopleMeds system uses the Internet to coordinate sources and users of a
patients clinical information, including laboratory, pharmacy, primary and
specialty care providers, claims, and medical records. In addition to the
systems Internet capabilities, the Company plans to include interfaces to
hand-held devices, fax machines, alphanumeric pagers, interactive voice
response, and many types of patient-monitoring devices in PeopleMeds
information infrastructure.

PeopleMed is owned 83% by
Global Med Technologies, Inc. and 17% by third parties including certain
executive officers and directors of Global Med Technologies, Inc. Global Med
Technologies, Inc. and PeopleMed are referred to collectively herein as the
Company or Global Med.

Global Med has introduced
to the market two internet-based software applications designed to improve
patient care while promoting savings and efficiency. SAFETRACE Tx.com 
provides hospitals and blood centers with a coordinated system that fully
integrates blood inventory, testing and management-improving blood safety,
reducing waste and improving patient care.

## Related Parties

Global Med is financed
primarily through lending arrangements provided by eBanker USA.com, Inc.
(eBanker) as discussed further below. eBanker is a consolidated
subsidiary of eVision USA.Com, Inc. (eVision). eVision is majority
owned by Online Credit International Ltd. (Online International) and
its subsidiary Online Credit Limited (Online Credit). Online Credit, eVision and
eBanker all are shareholders of Global Med. Additionally, eBanker and eVision
each hold warrants to acquire an additional 1 million shares of Global
Meds common stock with an exercise price of $0.25 per share. As discussed
further below and in the accompanying financial statements, in November 2000,
eBanker and Global Med entered into a series of transactions that resulted in
Global Med becoming a consolidated subsidiary of eBanker and eVision.

Additionally, eVision and
other of its subsidiaries provide various management and accounting support
services to Global Med. See the discussion of such transactions in notes 1 and
2 in the accompanying financial statements

---

As a result of these
transactions and relationships, the financial condition and results of
operations Global Med may not necessarily be indicative of those that would have
resulted if Global Med were unaffiliated with these entities.

## BUSINESS OF
REGISTRANT

## Principal
Products and Their Markets

The Company designs,
develops, markets and supports information management software products for
blood banks, hospitals, centralized transfusion centers and other health care
related facilities. Revenues are derived from the licensing of software,
maintenance, the provision of consulting and other value added support services
and the resale of hardware and software obtained from vendors.

Wyndgate began development
of a blood tracking system called SAFETRACE® to assist community blood
centers, hospitals, plasma centers and outpatient clinics in the U.S. in
complying with the quality and safety standards of the FDA for the collection
and management of blood and blood products.

The Company has completed
the development of SAFETRACE® and SAFETRACE TX, a transfusion
management information system that is designed to be used by hospitals and
centralized transfusion centers to help insure the quality of blood transfused
into patient-recipients. SAFETRACE TX provides electronic cross-matching
capabilities to help insure blood compatibility with patient-recipients and will
track, inventory, bill and document all activities with blood products from the
time blood products are received in inventory to the time the blood products are
used or returned to blood centers. Management expects SAFETRACE TX will
complement SAFETRACE® as the combined SAFETRACE TX and
SAFETRACE® software system will be able to integrate hospitals with blood
centers and provide a vein-to-vein tracking of the blood
supply. SAFETRACE TX entered beta testing on April 6, 1998. Upon
completion of beta testing, a 510(k) submission of SAFETRACE TX was made
to the FDA. FDA clearance was received January 29, 1999.

The Company continues to
concentrate its development efforts on enhancements to its existing
SAFETRACE® blood bank product and SAFETRACE TX, Wyndgates
transfusion management information system software product was completed in
1998. The Food and Drug Administration (FDA) cleared both products
for sale in the United States. The Companys development of SAFETRACE
TX began in 1996.

In 1999, the Company
introduced PeopleMed. PeopleMed supports chronic disease management as an ASP.
PeopleMeds system uses the Internet to coordinate sources and users of a
patients clinical information, including laboratory, pharmacy, primary and
specialty care providers, claims, and medical records. In addition to the
systems Internet capabilities, PeopleMed also plans to include interfaces
to hand-held devices, fax machines, alphanumeric pagers, interactive voice
response, and many types of patient-monitoring devices in its information
infrastructure.

## Competition

Currently, the Company is
aware of five primary competitors to its SAFETRACE®software product,
including MAK-SYSTEM Corp. in France, Information Data Management, Inc., Blood
Bank Computer Systems, Inc., MEDIWARE Information Systems, Inc. and Systec
Computer Associates in the United States. There are three primary competitors in
the United States to its SAFETRACE TX product, Sunquest, MEDIWARE
Information Systems, Inc. and Cerner Corp. Some of these competitors are larger
and have greater resources than the Company.

The Company believes it is
able to compete on the basis of the capabilities of the technology currently
available in SAFETRACE® and SAFETRACE TX.

---

## Dependence on
Major Customers

The Company, through its
Wyndgate division, currently has 31 SAFETRACE®customers and 21
SAFETRACE TX customers with over 170 sitesin the United States. It
intends to continue to target domestic and international blood centers, plasma
centers and hospital donor and transfusion centers.

No customers accounted for
more than 10% of the Companys revenues during 2000. In April 1999, the
Company entered into a termination agreement with a former customer who had
previously licensed multiple sites for SAFETRACE®. The agreement resolved
all outstanding contractual issues and resulted in payments to the Company
during 1999 of approximately $919,000, or approximately 17% of revenue.

## ROYALTY AND
COMMISSION AGREEMENTS

The Royalty Group.
Pursuant to a development agreement between Wyndgate and the Royalty Group,
Wyndgate developed SAFETRACE® and must make royalty payments to the Royalty
Group based on a percentage of Wyndgates SAFETRACE® license fees
collected, measured by cash received from SAFETRACE® licensees, net of
certain fees and charges. The royalty schedule is based upon the first date of
SAFETRACE® license invoicing, which was September 14, 1995. The royalty
amounts are computed as a percentage of software license fees collected.

OrthoClinical
Diagnostics, Inc. In 1996, the Company entered into an Exclusivity and
Software Development agreement (the Exclusivity Agreement) with
Ortho-Clinical Diagnostics, Inc. (OCD), successor to Ortho
Diagnostic Systems Inc., a wholly owned subsidiary of Johnson & Johnson. The
Exclusivity Agreement provided OCD the exclusive right to negotiate with the
Company with respect to the Companys activities and developments in
information technology and intellectual property relating to donor and
transfusion medicine. In connection with this agreement, the Company received
$500 thousand in 1996, which was recorded as deferred revenue.

In May 1997, the Company
received a request from OCD to continue its evaluation of the Companys
technology, on a non-exclusive basis, with the intent of responding to the
Company by July 14, 1997 regarding whether or not OCD would propose some form of
transaction with the Company. The Company received an additional $500 thousand
from OCD during 1997 which was recorded as deferred revenue until the Company
provided the software development services as defined in the Exclusivity
Agreement. The Company finalized the Manufacturers Representative and
Software Development Agreement (OCD Agreement) during June 1999
making OCD the exclusive in-vitro diagnostics manufacturers
representative for the SAFETRACE TX  product in defined territories around
the world. The total of $1 million which was included in deferred revenue as of
December 31, 1998 is being recognized as follows: $500 thousand is being
recognized ratably over the term of the 22 month contract and $500 thousand will
be recognized upon completion of development work in the future as mutually
agreed.

Sysmex Infosystems
America, Inc. During 2000, the Company entered into a non-exclusive
marketing and support agreement with Sysmex Infosystems America, Inc.
(SIA). Under this agreement, SIA will market the Companys
blood bank products on a preferred basis. The Company will pay a commission to
SIA based on the software license fee for each sale SIA has facilitated. The
initial term of the agreement is for three years from the signing date of this
agreement. This agreement is automatically renewed for one-year periods if
neither party terminates the agreement within 60 days of expiration.

---

Triple G Systems Group,
Inc.During 2000, the Company entered into a non-exclusive marketing and
support agreement (the Non-Exclusive Agreement #2) with Triple G
Systems Group, Inc. (Triple G). Triple G, under the Non-Exclusive
Agreement #2, will market the Companys SafeTrace Tx products on a
preferred basis. The Company will pay to Triple G a commission based on a
percentage of the software license fee that Triple G facilitates through their
marketing efforts. This agreement is effective for three years and will renew
for additional one-year periods, at the expiration of the term, if neither party
terminates this agreement in writing within 60 days of expiration.

## GOVERNMENT
APPROVAL AND REGULATION

The FDA requires all blood
tracking application software vendors to submit a 510(k) application for review.
The application process for FDA review and compliance with FDA guidelines
relates to computer software products regulated as medical devices. The FDA
considers software products intended for the following to be medical devices:
(i) use in the manufacture of blood and blood components; or (ii) maintenance of
data used to evaluate the suitability of donors and the release of blood or
blood components for transfusion or further manufacturing. As medical device
manufacturers, the Company and its competitors are required to register with the
Center for Biologics Evaluation and Research (CBER), list their
medical devices, and submit a pre-market notification or application for
pre-market review. In April 1997, the Companys Wyndgate division received
notification from the FDA of its finding of substantial equivalence
of SAFETRACE®. This determination provides a 510(k) clearance and permits
the Company to continue to market SAFETRACE®. On January 29, 1999, the
510(k) clearance was received for SAFETRACE TX.

The Companys products
and services are subject to regulations adopted by governmental authorities,
including the FDA, which governs blood center computer software products
regulated as medical devices. The Company is also required to follow applicable
Quality System Regulations (QSR) of the FDA, which include testing,
control and documentation requirements, as well as similar requirements in other
countries, including International Standards Organization (ISO) 9001
standards.

## Financing
Agreements with Related Parties

In April 1998, Global Med
entered into financing agreements with Online Credit and Fronteer Capital, a
subsidiary of eVision. Online Credit committed to extend a line of credit in the
amount of $1.5 million and Fronteer Capital committed to extend $1.65 million
under separate agreements. The interest rate under both agreements was 12% per
annum. In consideration for the commitments, Global Med issued Online Credit and
Fronteer Capital warrants to purchase 6 million and 1 million shares,
respectively, of Global Med common stock exercisable at $0.25 per share.
Fronteer Capital would be granted an additional warrant to acquire 5 million
shares of Global Med common stock at $0.25 per share upon the initial borrowing
under the financing agreement. Additionally, Online Credit was granted the right
to appoint five members to the board of directors of Global Med so long as there
are any amounts outstanding under its original agreement. Online Credit has
appointed such members to the board of directors of Global Med. In the event of
default, amounts due under these commitments were convertible into common shares
of Global Med at $0.05 per share.

In October 1998, eBanker
and Global Med agreed to an assignment of the loan commitment from Fronteer
Capital, excluding the warrant to purchase 1 million shares of common stock
issued in connection with the commitment. Global Med issued eBanker a warrant to
purchase 5 million shares of Global Med common stock at $0.25 per share upon
initial borrowing under the financing agreement in October 1998. Additionally,
in October 1998, eBanker purchased from Online Credit $1 million of its $1.5
million total notes receivable from Global Med and a warrant to purchase 4
million shares of common stock of Global Med at $0.25 per share for a total
purchase price of $1.1 million.

---

As of December 31, 1998,
Global Med owed eBanker the $1.65 million under Fronteer Capitals original
financing agreement plus the $1 million under Online Credits original
financing agreement for a total of $2.65 million. Additionally, at December 31,
1998 Global Med owed Online Credit $500 thousand under its financing agreement.
Amounts borrowed under these agreements were initially due in April 1999.

In March 1999, Online
Credit exercised its remaining 2 million warrants in cancellation of the
remaining $500 thousand it had extended to Global Med. Additionally, eBanker
extended the due date for the $2.65 million outstanding under its financing
agreements with Global Med until April 15, 2000. In consideration for the
extension, Global Med paid eBanker a 2% fee in the form of 42,400 shares of
Global Med common stock and the default conversion feature of the loans was
increased from $0.05 per share to $0.25 per share.

In March 1999, eBanker
extended a $750 thousand bridge loan to Global Med due in December 1999. The
outstanding bridge loan balance was convertible into common shares of Global Med
at the rate of $1.13 per share. The bridge loan bears interest at 12% and
eBanker was paid a 2% commitment fee in the form of 13,275 shares of Global
Meds common stock.

In April 1999, Online
Credit entered into a bridge loan commitment with Global Med for $2 million due
in April 2000. The outstanding bridge loan balance was convertible into shares
of Global Med at the rate of $1.15 per share. The bridge loan bears interest at
12% and Online Credit was paid a 5% commitment fee in the form of 86,957 shares
of Global Meds common stock.

In October 1999, Online
Credit, as agreed to by Global Med, assigned to eBanker its $2 million bridge
loan commitment to Global Med and transferred to eBanker the 86,957 shares of
Global Med common stock issued in consideration for the loan commitment to
eBanker. Also in October 1999, eVision and eBanker entered into a lock up
agreement whereby Global Med issued 50 thousand and 450 thousand shares of its
common stock to eVision and eBanker, respectively, in consideration for eVision
and eBanker agreeing to restrict sales of their holdings of Global Med common
stock and warrants for a period of one year.

In December 1999, the
$750,000 bridge loan was extended to September 2000. In consideration for the
extension, eBanker received a 2% fee in the form of 13,275 shares of Global Med
common stock and the conversion rate was reduced from $1.15 per share to $0.50
per share.

At December 31, 1999, $4.4
million was outstanding under eBankers financing agreements with Global
Med and $1 million remained available under the bridge loan commitment of
eBanker.

In April 2000, the $2.65
million loans and the $2 million bridge loan were extended to January 2001.
Under the terms of the extension, if the loans were not repaid by January 2001,
they would automatically extend to April 2001, the conversion features would be
eliminated and eBanker would be granted warrants to acquire Global Med common
stock at $0.50 per share. The number of warrants to be issued would be based on
the total principal and interest outstanding divided by the exercise price of
$0.50 per share. A conversion feature was added to the $2.65 million loan that
entitled eBanker to convert the loan into shares of Global Med common stock at a
rate of $1.68 per share. Additionally, the $750 thousand bridge loan was
extended to January 2001. In consideration for these extensions, eBanker was
paid a 2% fee in the form of 160,000 shares of Global Med common stock.

---

In November 2000, eBanker
agreed to exercise warrants to purchase 8 million shares of common stock of
Global Med at $0.25 per share in exchange for canceling $2 million of its notes
receivable from Global Med. The remaining $3.4 million outstanding under the
various financing agreements and accrued interest of $428,700 were combined into
one agreement and the due date was extended to July 1, 2001. Global Med agreed
to pay interest of 12% per annum on a semi-annual basis, with the first interest
payment due May 19, 2001. The 8 million shares of common stock were issued on
February 28, 2001 and are considered outstanding as of November 19, 2000. In
consideration for the extension of the remaining principal and interest, eBanker
received a fee of 5% payable in 197,600 shares of common stock of Global Med. If
the principal and interest are not paid in full by July 1, 2001, the due date of
the principal will automatically be extended to July 1, 2003. Additionally,
Global Med will issue eBanker warrants to acquire up to 10,168,430 shares of
Global Med common stock with an exercise price of $0.50 per share. The actual
number of warrants to be issued will be determined based upon the amount of
principal outstanding at July 1, 2001. Additionally, upon the occurrence of
certain events related to a certain contract Global Med is negotiating, Global
Med will have the right, in its discretion, to put its shares of common stock
worth up to $1.5 million to eBanker at $0.50 per share in the form of exchanging
debt for common stock. The outstanding loan balance is convertible into the
common stock of Global Med at eBankers option at a rate of $1.00 per
share. The default conversion rate under this extension is $1.00 per share. As
consideration for this provision, eBanker was issued 500,000 restricted shares
of Global Med common stock. As a result of these transactions, eBanker obtained
control of Global Med and Global Med will be reflected in eVisions
consolidated financial statements as a consolidated subsidiary of eBanker
effective November 19, 2000.

The loan with eBanker is
secured by all of Global Meds assets including its shares in PeopleMed and
the assets of PeopleMed and Global Med, including intellectual property. As part
of the November 19, 2000 Loan Agreement, the Personal Guarantee of Dr. Michael
I. Ruxin, as dated August 12, 1998, and assigned to eBanker, was reduced from
$1.5 million to $650 thousand plus pro rata accrued interest. The personal
guarantee is limited to certain of Dr. Ruxins assets. As part of the
November 19, 2000 Financing Agreement, Global Med agreed to register and
maintain registration for all present and future shares including underlying
warrants, belonging to eBanker.

If Global Med defaults on
the repayment of any amount borrowed under the combined note issued to eBanker,
all existing members of the board of directors of Global Med will be required to
resign and eBanker will have the right to appoint all new members.

At December 31, 2000,
principal of $3.829 million and accrued interest of $54 thousand were outstanding
under the financing agreements between eBanker and Global Med and there were no
remaining amounts available under the commitment agreement.

On March 22, 2001, Global
Med and eBanker entered into an interest payment option agreement that provides
that Global Med may have the option, with five days prior written notice, to
elect and pay to eBanker, before July 1, 2001, Global Meds entire interest
payment calculated for the life of loan agreement dated November 19, 2000, in
the form of 1,746,688 shares of Global Med common stock (calculated at $0.6875
per share, which was the prevailing market price on March 22, 2001). In the
event that Global Med pays down any principal on the loan prior to July 1, 2003,
eBanker will return a number of shares determined by calculating the pro-rata
interest avoided due to early repayment of principal divided by $0.6875 per
share. eBanker will make this calculation on July 1, 2001, July 1, 2002 and July
1, 2003.

---

## Consulting
Agreement

The Company entered into a
Consultancy Agreement, effective as of February 24, 2000, for a period of
twenty-four (24) months, with National Financial Communications Corporation, dba
OTC Financial Network (OTC Financial). OTC Financial provided
consulting services, with the expressed intent and goal of getting the Company,
or its successor or assigns, listed on the Nasdaq Stock Market which include
providing financial community and investor relations for the Company, and
advising the Company, as requested, regarding financial community and investor
relations.

Upon execution of this
agreement, the Company agreed to issue to OTC Financial 250,000 shares of
restricted common stock of the Company, 125,000 of which are to be included in a
registration statement intended to be filed during 2001.

## EMPLOYEES

As of March 31, 2001, the
Company had 38 full-time employees, consisting of 2 employees in the corporate
offices in Denver, Colorado and 36 at Wyndgates offices near Sacramento,
California. The Company has employment agreements with certain personnel. The
Companys employees are not represented by a labor union or subject to
collective bargaining agreements. The Company has never experienced a work
stoppage and believes that its employee relations are satisfactory.

## ITEM 2.
DESCRIPTION OF PROPERTY

As of April 10, 2001, the
Company occupied two primary locations. The Company occupies approximately 1,252
square feet of office space in Lakewood, Colorado and the lease expires on
February 14, 2002. The Company leases approximately 15,000 square feet of office
space in El Dorado Hills, California, expiring on May 31, 2006.

## ITEM 3. LEGAL
PROCEEDINGS

The Company is not a party
to any legal proceedings that management believes to be material, and there are
no such proceedings that are known to be contemplated.

## ITEM 4.
SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

The were no matters
submitted to a vote of the security holders.

---

# PART II

## ITEM 5.
MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

## Market
Information

The Units sold by the
Company in its initial public offering, each of which consisted of two shares of
common stock and one warrant, commenced trading on the Nasdaq Small-Cap Market
on February 12, 1997. On March 13, 1997, the common stock and warrants included
in the Units began to trade separately and the Units ceased to trade. On
February 9, 1998, the Companys common stock and warrants were delisted
from the Nasdaq Small-Cap Market, and commenced trading on the Bulletin Board.

The following table sets
forth the quarterly high and low bid prices for the Company's common stock for
the two years ended December 31, 2000.

# COMMON STOCK

`Fiscal Quarter Ended:                         High             Low
    ---------------------                         ----             ---

        December 31, 2000                    $   1.3281           0.4063
        September 30, 2000                       2.0000           1.0000
        June 30, 2000                            2.6875           0.9375
        March 31, 2000                           4.2500           0.5938

        December 31, 1999                        0.8438           0.4375
        September 30, 1999                       1.2813           0.6562
        June 30, 1999                            1.8750           0.9063
        March 31, 1999                           2.6250           0.7812`

---

## Holders

As of December 31, 2000,
the Company had approximately 133 holders of record of the Companys common
stock, excluding those held in street name.

## Dividends

The payment of dividends by
the Company is within the discretion of its Board of Directors and depends in
part upon the Companys earnings, capital requirements and financial
condition. Since its inception, the Company has not paid any dividends on its
common stock and does not anticipate paying such dividends in the foreseeable
future. The Company intends to retain earnings, if any, to finance its
operations.

## Recent Sales
of Unregistered Securities

During the year ended
December 31, 2000, Global Med issued 10,517,600 shares of unregistered common
stock. The unregistered shares issued during 2000 were comprised of the
following:

|o | 8 million common shares issued in connection with the exercise of common stock
warrants by eBanker and paid for through the cancellation of $2 million in
related party debt
|- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|o | 857.6 thousand in common shares issued related to financings
|- | ------------------------------------------------------------

|o | 1.37 million common shares issued to affiliates and a shareholder at a discount
for cash
|- | ----------------------------------------------------------------------------------------

|o | 250 thousand shares issued for investor relations
|- | -------------------------------------------------

|o | 40 thousand common shares issued as consideration for development of a website
|- | ------------------------------------------------------------------------------

The issuance of shares for
payment of financing fees were made in reliance upon the exemption from
registration provided by Section 4(2) of the Securities Act of 1933, as amended
(1933 Act). The purchaser had access to full information concerning
the Company. The certificates for the shares contain a restrictive legend
advising that the shares may not be offered for sale, sold or otherwise
transferred without having first been registered under the 1933 Act or pursuant
to an exemption from registration under the 1933 Act. No underwriters were
involved in the transactions.

Online International and
subsidiaries received warrants to purchase a total of 12 million shares of
Global Meds common stock as compensation for certain financing
arrangements. eBanker exercised warrants to acquire 8 million of these during
2000 and Online Credit exercised 2 million warrants during 1999. The Company
registered the common shares underlying these warrants in February 1999. The
registration rights on these warrants have expired. The Company plans to
reregister the common shares underlying these warrants during 2001.

## ITEM 6.
MANAGEMENTS DISCUSSION AND ANALYSIS

RISKS ASSOCIATED
WITH FORWARD-LOOKING STATEMENTS

This Annual Report on
Form 10-KSB contains certain forward-looking statements within the meaning of
Section 27A of the Securities Act and Section 21E of the Securities Exchange Act
of 1934, as amended (1934 Act), and the Company intends that such
forward-looking statements be subject to the safe harbors for such statements
under such sections. The Companys forward-looking statements include the
plans and objectives of management for future operations, including plans and
objectives relating to the Companys planned marketing efforts and future
economic performance of the Company. The forward-looking statements and
associated risks set forth in this Annual Report on Form 10-KSB include or
relate to: (i) the ability of the Company to obtain a meaningful degree of
consumer acceptance for its software products and proposed software products,
(ii) the ability of the Company to market its software products and proposed
software products on a national and international basis at competitive prices,
(iii) the ability of the Companys software products and proposed software
products to meet government regulations and standards, (iv) the ability of the
Company to develop and maintain an effective national and international sales
network, (v) success of the Company in forecasting demand for its software
products and proposed software products, (vi) the ability of the Company to
maintain pricing and thereby maintain adequate profit margins, (vii) the ability
of the Company to achieve adequate intellectual property protection for the
Companys software products and proposed software products, (viii) the
ability of the Company and its customers to successfully and timely implement
the Companys software products, and (ix) possible changes in customer
software buying patterns due to Year 2000 issues.

---

The forward-looking
statements herein are based on current expectations that involve a number of
risk and uncertainties. Such forward-looking statements are based on assumptions
that the Company will market and provide software products on a timely basis,
that there will be no material adverse competitive or technological change in
condition of the Companys business, that demand for the Companys
software products will significantly increase, that the Companys Chief
Executive Officer will remain employed as such by the Company, that the
Companys forecasts accurately anticipate market demand and that there will
be no material adverse change in the Companys operations, business or
governmental regulation affecting the Company or its suppliers. The foregoing
assumptions are based on judgments with respect to, among other things, future
economic, competitive and market conditions, and future business decisions, all
of which are difficult or impossible to predict accurately and many of which are
beyond the Companys control. Accordingly, although the Company believes
that the assumptions underlying the forward-looking statements are reasonable,
any such assumption could prove to be inaccurate and therefore there can be no
assurance that the results contemplated in forward-looking statements will be
realized. In addition, as disclosed elsewhere in this Annual Report on Form
10-KSB, there are a number of other risks inherent in the Companys
business and operations which could cause the Companys operating results
to vary markedly and adversely from prior results or the results contemplated by
the forward-looking statements. Growth in absolute and relative amounts of cost
of sales, research and development, sales and marketing and other operating
expenses or the occurrence of other events could cause actual results to vary
materially from the results contemplated by the forward- looking statements.
Management decisions, including budgeting, are subjective in many respects and
periodic revisions must be made to reflect actual conditions and business
developments, the impact of which may cause the Company to alter its marketing,
capital investment and other expenditures, may also materially and adversely
affect the Companys liquidity, financial position and results of
operations. In light of significant uncertainties inherent in the
forward-looking information included in this Annual Report on Form 10-KSB, the
inclusion of such information should not be regarded as a representation by the
Company or any other person that the Companys objectives or plans will be
achieved.

GENERAL

The Company designs,
develops, markets and supports information management software products for
blood banks, hospitals, centralized transfusion centers and other healthcare
related facilities. Revenues for Wyndgate are derived from the licensing of
software, the provision of consulting and other value-added support services and
the re-sale of hardware and software obtained from vendors. Revenues for
PeopleMed are derived, generally, from providing ASP services. The Company
operates in one segment.

---

## YEAR ENDED
DECEMBER 31, 2000 COMPARED TO YEAR ENDED DECEMBER 31, 1999

RESULTS OF OPERATIONS

Revenues. Revenues
are comprised of software sales, maintenance and usage fees, implementation and
consulting revenues, and the re-sale of hardware and software obtained from
vendors.

Revenues from license fees,
maintenance and usage fees decreased $371,000, or 9.5% to $3.516 million for
the year ended December 31, 2000 compared to $3.887 million for the year ended
December 31, 1999. The decrease in 2000 was due to the receipt of accelerated
software license fee payments of $919,000 in 1999. This decrease was partially
offset by an increase in the customer base for SafeTrace and SafeTrace TX. In
addition, the Company recognized revenues related to PeopleMed in the amount of
$247,000 during 2000 and $0 during 1999.

Revenues from
implementation and consulting services decreased $405,000 or 31.9% to $863,000
for the year ended December 31, 2000 compared to $1.268 million for the year
ended December 31, 1999. The decrease in 2000 was primarily attributable to a
decrease in implementation revenues of $508,000. This decrease was the result of
fewer SafeTrace systems being implemented in 2000 when compared with 1999. The
decrease was offset by an increase in revenues from software development funding
in the amount of $83,000 during 2000 compared to $0 in 1999. The remaining
decrease is primarily due to reduced customization revenues during 2000 when
compared to 1999.

The Company discontinued
the resale of hardware during 1999, consequently, there were no revenues in 2000
for this service, compared to $235,000 in 1999.

Cost of Revenues.
Cost of revenues related to software license fees, maintenance and usage fees
decreased $342,000, or 23.3% to $1.124 million for the year ended December 31,
2000 from $1.466 million for the year ended December 31, 1999. The reduction was
mainly due to reduced costs associated with a reduction in the Companys
work force of approximately 52% in October of 1999 (the Reduction in
Force). These costs were partially offset by an increase of $259,000 in
the expense associated with amortization of software development costs. Cost of
sales associated with implementations and other consulting revenues decreased
$729,000, or 59.1% from $505,000 during the year ended December 31, 2000
when compared to $1.234 million for the year ended December 31, 1999. This
decrease was due to the Reduction in Force and the reduced costs associated with
the decrease in revenues.

There were no cost of sales
related to the resale of hardware as no sales occurred during 2000 compared with
$247,000 in 1999.

The overall gross profit as a
percentage of revenues was 62.3% and 45.3% for the years ended December 31, 2000
and 1999, respectively.

General and
Administrative. General and administrative expenses increased $335,000, or
13.8%, to $2.766 million for the year ended December 31, 2000 compared to
$2.431 million for the year ended December 31, 1999. The increase in general and
administrative expenses was due primarily to the amortization of the shares of
common stock issued in conjunction with the OTC Financial Agreement in the
amount of $172,000, the recognition of $189,000 in compensation expenses
associated with the issuance of shares of common stock to a related party at a
discount, and additional expenses associated with People Med. These increased
expenses were partially offset by savings from the Reduction in Force.

Sales and Marketing.
Sales and marketing expenses were $1.417 million and $972,000 for the years
ended December 31, 2000 and 1999, respectively. The increase in sales and
marketing expenses of $445,000, or 45.8%, was primarily attributable to the
additional sales and marketing costs associated with PeopleMed.

---

Research and
Development. Research and development expenses increased $375,000, or
112.3%, to $709,000 for the year ended December 31, 2000 from $334,000
for the year ended December 31, 1999. The increase in research and development
expenses was primarily due to development efforts associated with development of
PeopleMed software product. Net capitalized software development costs decreased
to $1.177 million from $1.566 million as of December 31, 2000 and 1999,
respectively. Management anticipates research and development costs will
continue to be substantial. Managements plans for the Companys
future software products and services require continual research and development
expenditures in order to continue to capitalize on the Companys existing
technological base and its existing software development capabilities.

Interest Income.
Interest income decreased $101,000 to $16,000 in 2000 from $117,000 in 1999.
This decrease was primarily due to interest income recognized on the collection
of a past due note receivable in 1999 which had been totally reserved. The
interest income recognized in 1999 from the collection of this receivable was
approximately $99,000.

Interest Expense.
Interest expense increased $153,000 to $577,000 for the year ended December 31,
2000 from $374,000 for the year ended December 31, 1999. This increase was
primarily due to increases in the average debt levels associated with the
Companys related party financing agreements.

Financing Costs. For
the years ended December 31, 2000 and 1999, the Company recognized $1.984
million and $6.039 million, respectively, in financing costs expense associated
with certain financing agreements and the sale of stock to eVision at a
discount. During 2000, the Company recognized $940,000 in financing costs
associated with this sale of stock to eVision. During 1999, the Company incurred
additional financing costs expense of $1.217 million related to the extensions
of exercise periods of warrants and the extensions of due dates for loans and
lines of credit. The decrease in financing cost in 2000 was primarily due to the
fact that no warrants were issued in conjunction with the financing agreements.
In addition, the Company recognized approximately $4.822 million in financing
costs during 1999 associated with the amortization of the 12,000,000 warrants
issued in conjunction with the April 1998 Financing Agreement, which were
amortized to financing costs over the term of the agreements, which expired
April 15, 1999.

Other. Other income,
net, decreased to $0 from $256,000 from 2000 to 1999. For the year ended
December 31, 1999, other income was primarily due to collection of a past due
note receivable in the amount of $250,000. The note receivable had been fully
reserved for in prior years.

Net Loss. The
Companys net loss during 2000 as compared to 1999 decreased $3.053
million. The net loss includes the recognition of a total of $1.984 million and
$6.039 million of financing costs as of December 31, 2000 and 1999,
respectively. Loss before other income (expense) increased $492,000 to $2.306
million from the $1.814 million loss for 1999 due to decreased sales.

LIQUIDITY AND CAPITAL
RESOURCES

The Company had cash and
cash equivalents of $1.21 million as of December 31, 2000 compared to $330,000
at December 31, 1999. Additionally, the Company had a net working capital
deficit of $1.025 million as of December 31, 2000 and $1.107 million at December
31, 1999.

---

It is expected that cash
flows from the Companys existing customer base, new sales, and the
Companys current assets, including cash and accounts receivable, will be
sufficient to fund the Companys liquidity and capital requirements for the
next twelve months excluding acquisitions or major new product development
initiatives. Management anticipates that the cash, accounts receivable balances,
recurring revenues, proceeds from the sales of common stock, and any future
financing activities will be used to fund the Companys anticipated
research and development costs, sales and marketing efforts during the remainder
of 2001 and for general working capital purposes. The Company continues to
pursue financing alternatives through the issuance of additional equity or debt.

The Company used $570,000
in operating activities during 2000, compared to $1.285 million used during
1999. The cash used in operations of $570,000 during 2000 consisted primarily of
the net loss of $4.892 million, offset by the amortization of non-cash deferred
financing costs of $1.984 million, non-cash compensation resulting from
issuances of common stock, options and warrants of $463,000, depreciation and
amortization of $827,000, an increase in deferred revenue of $635,000, and a
decrease of $429,000 in accrued expenses associated with the conversion of this
amount from accrued expenses to short-term debt in conjunction with the November
2000 financing.

Net cash used by investing
activities was $318,000 during 2000 compared to net cash used by investing
activities during 1999 of $1.261 million. The Company invested $273,000 in
capitalized software development during 2000.

Net cash provided by
financing activities was $1.768 million and $2.055 million during 2000 and 1999,
respectively. These amounts primarily include proceeds from the related party
financing agreements.

IMPACT OF INFLATION

Although it is difficult to
predict the impact of inflation on our costs and revenues in connection with our
products, we do not anticipate that inflation will materially impact our costs
of operation or the profitability of our products when marketed.

RECENTLY ISSUED FINANCIAL
ACCOUNTING STANDARDS

In June 1998, the Financial
Accounting Standards Board issued Statement of Financial Accounting Standards
(SFAS) No. 133, Accounting for Derivative Instruments and Hedging
Activities. SFAS No. 133 requires companies to adopt its provisions for all
fiscal quarters of all fiscal years beginning after June 15, 2000 (as deferred
by DFAS No. 137). The new standard requires companies to record derivatives on
the balance sheet as assets or liabilities, measured at fair value. Gains or
losses resulting from changes in the values of those derivatives will be
reported in the statement of operations or in other comprehensive income
depending on the use of the derivatives and whether they qualify for hedge
accounting. The key criterion for hedge accounts is that the derivative must be
highly effective in achieving offsetting changes in fair value or cash flows of
the hedged item during the term of the hedge and must be designated as a hedge
pursuant to various criteria of SFAS No. 133. The Company adopted SFAS No. 133,
as amended, on January 1, 2001. Historically, the Company has not entered into
derivatives contracts to hedge existing risks, and derivatives held for
speculative purposes consist of warrants held. The adoption of SFAS No. 133 on
January 1, 2001, did not result in a transition adjustment to the financial
statements.

In December 1999, the
Securities and Exchange Commission issued Staff Accounting Bulletin No. 101,
Revenue Recognition in Financial Statements, which provides guidance with
respect to revenue recognition issues and disclosures (SAB
101). As amended by SAB Nos. 101A and 101B, the Company was required to
implement the provisions of SAB No. 101 no later than the fourth quarter of
the fiscal year ending December 31, 2000. The adoption of SAB 101 did not have a
material effect on the financial position or results of operations.

## ITEM 7.
FINANCIAL STATEMENTS.

The Financial Statements
that constitute Item 7 are attached at the end of this Annual Report on Form
10-KSB.

---

INDEX TO CONSOLIDATED
FINANCIAL STATEMENTS

`Page

Independent Auditors Report                                                 F-1
Consolidated Balance Sheets as of December 31, 2000 and 1999                 F-2
Consolidated Statements of Operations for the years ended
        December 31, 2000 and 1999                                           F-4
Consolidated Statements of Stockholders Equity (Deficit) for the years
        ended December 31, 2000 and 1999                                     F-5
Consolidated Statements of Cash Flows for the years ended December 31,
        2000 and 1999                                                        F-6
Notes to Consolidated Financial Statements                                   F-8`

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

None not previously
reported.

# PART III

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

## Identification
Of Directors and Executive Officers

The following sets forth
certain information with respect to the officers and directors of the Company.

`Officer or
      Name                 Age                Position                       Director Since
-----------------------    ---      --------------------------------------   ---------------

Michael I. Ruxin, M.D.     55       Chairman of the Board and                    1989
                                      Chief Executive Officer

Fai H. Chan                56       Director                                     1998

Robert H. Trapp            45       Director                                     1998

Kwok Jen Fong              51       Director                                     1998

Jeffrey M. Busch           43       Director                                     1998

Gary L. Cook               43       Director, Acting Principal Financial         1998
                                    Officer and Treasurer

Gordon E. Segal, M.D.      49       Director                                     1997

Gerald F. Willman, Jr.     43       Director and Wyndgate Vice                   1995
                                      President International Business
                                      Development

Tony T.W. Chan             26       Director                                     1999

Thomas F. Marcinek         47       President and Chief Operating                1998
                                      Officer`

---

The directors of the
Company are elected to hold office until the next annual meeting of shareholders
and until their respective successors have been elected and qualified. Officers
of the Company are elected by the Board of Directors and hold office until their
successors are elected and qualified.

The following sets forth
biographical information concerning the Companys directors and executive
officers for at least the past five years. With the exception of Gary Cook, all
of the following persons who are executive officers of the Company are full time
employees of the Company.

Michael I. Ruxin,
M.D., the founder of the Company, has been an officer and director of the
Company since its incorporation in 1989 and is currently the Chairman and Chief
Executive Officer of the Company. Dr. Ruxin received a B.A. degree from the
University of Pittsburgh and a M.D. degree from the University of Southern
California. Dr. Ruxin is a licensed physician in California and Colorado.

Fai H.
Chan, has been a Director of the Company since May 1998. He has
been a Director of eVision since December 26, 1997, and Chairman of the Board of
Directors and President since February 1998. Mr. Chan is the Chairman and
Managing Director of Online International and has been a Director of Online
International since September 2, 1992. Mr. Chan was elected Managing Director of
Online International on May 1, 1995 and Chairman on June 3, 1995. Online
Internationals primary business activities include real estate investment
and development, merchant banking, the manufacturing of building material
machinery, pharmaceutical products and retail fashion. Mr. Chan was the
President and a Director of Asia SuperNet Corporation, (formerly Powersoft
Technologies Inc),which owns various industrial companies, from June
1994 until January 2001 and Chief Executive Officer thereof from June 1995 until
January 2001; a Director of Intra-Asia Equities, Inc., a merchant banking
company, since June 1993; Executive Director of Hua Jian International Finance
Co., Ltd. from December 1994 until December 1996; and Chairman of the Board of
Directors of American Pacific Bank since March 1988 and Chief Executive Officer
thereof between April 1991 and April 1993.

Robert H.
Trapp has been a Director of the Company since May 1998. He has
been a Director of eVision since December 1997 and the Managing Director since
February 1998. Mr. Trapp has been a director of Online International since May
1995; a Director of Inter-Asia Equities, Inc., a merchant banking company, since
February 1995 and the Secretary thereof since April 1994; Director, Secretary
and Treasurer of Asia SuperNet Corporation, (formerly, Powersoft Technologies
Inc.), which owns various industrial companies; and the Canadian operational
manager of Pacific Concord Holding (Canada) Ltd. of Hong Kong, which operates in
the consumer products industry, from July 1991 until November 1997.

Kwok Jen Fong
has been a Director of the Company since May 1998. Mr. Fong has been a Director
of eVision since February 1998 and a Director of Online International since May
1995. Mr. Fong has been a practicing solicitor in Singapore for at least the
last five years.

Jeffrey   M.
Busch  has been a Director of the Company since May 1998.  Mr. Busch has
been a  practicing  attorney  for over  five  years.  Mr.  Busch has also been a
Director of eVision since February 1998.

---

Gary L. Cookhas been a Director of the Company since 1998 and the Acting Principal
Financial Officer and Treasurer since October 2000.Since 1996, he has
been Secretary, Treasurer and Chief Financial Officer of eVision and oversees
all accounting, internal and external reporting, treasury and cash management
functions. Mr. Cook also is Treasurer of eBanker and Vice-President and Chief
Financial Officer of American Fronteer Financial Corporation. From 1994 to 1996,
Mr. Cook was self-employed as the principal of a small venture where he
researched, directed and managed the start up and development of a small
business. From 1982 to 1994, he worked for KPMG LLP lastly of which he was a
senior manager responsible for all auditing services for several clients in
various financial and other industries. Mr. Cook also directed the training,
management and evaluation of staff, developed and implemented accounting,
financial reporting and Securities and Exchange Commission reporting systems for
major growth companies. Mr. Cook received a B.A. in Accounting from Brigham
Young University in 1982 and is a member of the Colorado Society of Certified
Public Accountants and the American Institute of Certified Public Accountants.

Gordon E. Segal,
M.D., has been a director of the Company since April 1997. Since
December 1995, he has been co-founder and principal of M & S Ventures, a
privately held investment venture capital firm specializing in biotechnology and
health care companies. From January 1992 to December 1995, Dr. Segal was a
private venture capitalist. Dr. Segal received a B.A. degree in 1973 from
Southern Methodist University and a M.D. degree in 1978 from the University of
Tennessee. Dr. Segal is a licensed physician in New York and is a
board-certified anesthesiologist.

Gerald F.
Willman, Jr. has been a director of the Company and a Vice President of
the Wyndgate division since May 1995 and Chief Financial Officer from April
through August 1998. Mr. Willman was director and then a Vice President of The
Wyndgate Group, Ltd., from 1984 to 1995 and was responsible for the overall
design and development of the products developed by The Wyndgate Group, Ltd.,
including research of new technologies. Prior to his employment at The Wyndgate
Group, Ltd., he was employed as a development team leader at Systems Research,
Inc. Mr. Willman received a B.S. degree from Hampden Sydney College and M.B.A.
degree from National University.

Tony T.W.
Chan has been a director of the Company since December 1999. Mr. Chan
has been the Chief Operating Officer and Director of eVision since 1999. From
1998 to April 1999, Mr. Chan worked as an Investment Banker for Commerzbank,
Global Equities, Hong Kong, involved in the establishment of a new regional
business center in Hong Kong. From 1996 to 1998, Mr. Chan worked for Peregrine
Derivatives specializing in Asian equity financial products. Mr. Chan received a
Bachelor of Commerce degree in Finance with honors from the University of
British Columbia. Mr. Chan is also a director of American Pacific Bank and
eBanker.

Thomas F.
Marcinek was elected as President and Chief Operating Officer in
March 1998. From 1994 until joining the Company, he was the President and owner
of Prax Information Systems, Wantagh, New York, a practice management software
consulting company. From 1990-1994, he was the President of the Data
Technologies Group, a division of Henry Schein, Inc., Melville, New York. From
1985-1990, he was the Vice President of MIS for that same company.

## Family
Relationships

Mr. Tony T.W. Chan is the
son of Mr. Fai H. Chan. Both are directors of the Company.

## Involvement In
Certain Legal Proceedings

No officer, director,
significant employee, promoter or control person of the Company has been
involved in any event of the type described in Item 401(d) of Regulation S-B
during the past five years.

---

## Compliance
With Section 16(a) Of The Exchange Act

Based on information
provided to the Company, it is believed that all of the Companys
directors, executive officers and persons who own more than 10% of the
Companys common stock were in compliance with Section 16(a) of the
Exchange Act of 1934 during the last fiscal year, except as follows: (i) Fai H.
Chan, Online Credit International and eCredit each failed to timely file two
Forms 4 and one Form 5 with respect to six transactions involving securities of
which they are indirect/beneficial owners; however, one of the transactions was
disclosed on a timely filed Form 4 by the direct owner of the securities at
issue; (ii) Online Credit, eVision and eBanker each failed to timely file one
Form 4 and one Form 5 with respect to five transactions; and (iii) Gordon E.
Segal failed to timely file two Forms 4 with respect to two transactions. It
also has come to the Companys attention that in addition to the Section
16(a) disclosures contained in the Companys Annual Report on Form 10-KSB
for the fiscal year ended December 31, 1999, Fai H. Chan, Online Credit
International and eCredit each failed to timely file two Forms 4 and one Form 5
with respect to four transactions involving securities of which they are
indirect/beneficial owners during fiscal year 1999; however, these transactions
were disclosed on timely filed Forms 4 by the direct owners of the securities at
issue. No Forms 5 were filed by any of the officer, directors or 10% or more
beneficial owners of the Companys common stock during the last fiscal
year. However, to the best of the Companys knowledge, other than as set
forth above, all transactions by such persons otherwise required to be filed on
a Form 5 were previously reported on a Form 4 and, therefore, no Form 5 was
required to be file.

In May 1998, in connection
with the April 1998 Financing Agreements, Fai H. Chan, Online Credit
International and certain affiliated persons and entities filed a Schedule 13D
with the Securities and Exchange Commission to disclose their beneficial
ownership of the Companys common stock. Pursuant to Securities and
Exchange Commission Rule 13d-2(a), if there is a 1% or greater increase or
decrease in the percentage of the class of securities beneficially owned by the
reporting persons, an amendment to the Schedule 13D is required to be filed with
the Securities and Exchange Commission. Since May 1998, Fai H. Chan, Online
Credit International and their affiliates have periodically increased their
beneficial ownership of the Companys common stock by more than 1%.
Although no amendments to the Schedule 13D have been filed, the transactions
were disclosed on Forms 4 filed by Fai H. Chan, Online Credit and their
affiliates. In addition, by virtue of eBankers exercise of warrants to
purchase 8 million shares of the Companys common stock in November 2000,
Fai H. chan, Online Credit and their affiliates now own over 50% of the
Companys common stock. Forms 4 have been filed with respect to this
transaction and an amendment to the Schedule 13D with respect to all of the
above-referenced transactions has been filed.

---

## ITEM 10.
EXECUTIVE COMPENSATION

## Summary
Compensation Table

The following table sets
forth information regarding compensation paid to the Companys CEO and the
other executive officers of the Company who received in excess of $100,000 of
salary and bonus from the Company during the year ended December 31, 2000:

`Annual Compensation                   Long-Term Compensation
                           -------------------                   ----------------------
                                                      Restricted
   Name and Principal                                    Stock       Options       All Other
        Position          Year    Salary    Bonuses      Awards       & SARs     Compensation
                                              ($)
---------------------     ----    ------    -------   ----------     -------     ------------

Michael I. Ruxin,         2000 $ 194,750        ---       ---                0      $ 13,964 (1)
   Chairman and CEO       1999   190,000        ---       ---        1,000,000        16,736 (2)
                          1998   190,000        ---       ---        1,250,000       131,736 (3)


Thomas F. Marcinek,       2000   129,904        ---       ---                0         5,400 (4)
   President and COO      1999   125,000        ---       ---          500,000        10,871 (5)
                          1998   125,000        ---       ---          500,000        16,342 (6)

Gerald F. Willman, Jr.    2000   105,142        ---       ---              ---           ---
  Director and            1999   100,000        ---       ---              ---           ---
  Wyndgate Vice           1998    95,000        ---       ---          150,000           ---
  President,
  International
  Business
  Development

Alan K. Geddes,           2000    98,752        ---       ---              ---         2,586 (7)
  Vice President -        1999   125,000        ---       ---          200,000 (10)   17,139 (8)
  Finance, Chief          1998    52,083        ---       ---          350,000 (10)    5,599 (9)
  Financial Officer
  And Treasurer
  (through July 17,
  2000)

William J. Collard,       1998   101,557 (11)   ---       ---              ---         4,983 (12)
  Wyndgate President
  and Director (through
  February 4, 1999)`

|(1) | Dr.  Ruxin
received  $3,800 per annum in life  insurance  premiums and a $847 per month car
allowance.
|--- | ------------------------------------------------------------------------------------------------------

|(2) | Dr. Ruxin received $3,800 per annum in life insurance  premiums and a $1,078 per
month car allowance.
|--- | -----------------------------------------------------------------------------------------------------

|(3) | Dr.  Ruxin
received  $3,800 per annum in life  insurance  premiums,  a $1,078 per month car
allowance and $115,000 under his non-compete agreement.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------

|(4) | Mr.  Marcinek
received a $450 per month car allowance during fiscal year 2000.
|--- | ------------------------------------------------------------------------------

|(5) | Mr. Marcinek received a $450 per month car allowance and $5,471 for cost of an
apartment in Sacramento, California for the first six months of 1999.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------

|(6) | Mr. Marcinek received a $450 per month car allowance and $10,942 for cost of an
apartment in Sacramento, California for the year 1998.
|--- | --------------------------------------------------------------------------------------------------------------------------------------

---

|(7) | Mr.  Geddes
received  a $431 per month car  allowance  during the first six months of fiscal
year 2000. Mr. Geddes resigned from the Company on July 17, 2000.
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------

|(8) | Mr.  Geddes
received a $400 per month car  allowance and $12,339 for cost of an apartment in
Sacramento, California for the year 1999.
|--- | --------------------------------------------------------------------------------------------------------------------------------------

|(9) | Mr. Geddes received a $400 per month car allowance and $3,599 for cost of an
apartment in Sacramento, California for the last five months of 1999.
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------

|(10) | All of the Stock Options granted to Mr. Geddes were cancelled in accordance with
their terms as October 31, 2000.
|---- | -----------------------------------------------------------------------------------------------------------------

|(11) | Included is
$9,250 related to termination of Mr. Collard's employment.
|---- | ----------------------------------------------------------------------

|(12) | Mr.  Collard
received a $453 per month car allowance for 11 months in 1998.
|---- | ---------------------------------------------------------------------------

## Stock Option
Plans and Other Issuances

The Second Amended and
Restated Stock Option Plan provides for the issuance of options to purchase up
to 2.2 million shares of common stock to employees, officers, directors and
consultants of the Company. Options may be granted as incentive stock or as
nonqualified stock options. Only employees of the Company are eligible to
receive Incentive Options. The Plan expired on May 31, 2000. As of December 31,
2000, options to purchase 1,354,471 shares of the Companys common stock at
a weighted average exercise price of $1.13 per share through 2000 were
outstanding, of which 864,571 options to purchase shares were exercisable.

The Company also
periodically grants options to purchase shares of restricted common stock. The
shares underlying these options are not registered under the 1933 Act. As of
December 31, 2000, there were options to purchase 4,982,500 shares of common
stock at a weighted average exercise price of $0.77 outstanding, of which
1,773,700 were exercisable at December 31, 2000.

In the fourth quarter of
1997, the Company adopted a stock compensation plan (the Stock Compensation
Plan). The Stock Compensation Plan, as amended in 1998, provides for the
issuance of up to 200,000 shares of common stock to employees, consultants and
others involved in the Companys business. A total of 200,000 shares of
common stock of Global Med have been issued under the stock compensation plan.

For the year ended December
31, 2000 the Company issued 30,000 shares of common stock to a related party for
services and authorized the issuance of 35,000 shares to a director of the
Company under the Stock Compensation Plan. Of the 35,000 authorized shares, none
had been issued as of December 31, 2000. These shares will be issued at a rate
of 7,000 per year as they are earned. The market value of the shares issued or
authorized to be issued under the Stock Compensation Plan during 2000 was
$65,000, based on quoted market prices. During the years ended December 31, 2000
and 1999, $28,000 and $62,500, respectively, was recognized in the
Companys statements of operations as the services were performed. At
December 31, 2000, no shares remain available for grant under this plan.

On December 29, 2000, the
Board authorized, subject to shareholder approval at the April 16, 2001 Special
Meeting of Shareholders, (i) the adoption of a 2001 Stock Option Plan with a
maximum aggregate number of reserved for issuance thereunder of 15 million
shares of our common stock, and a term of ten years and (ii) an increase in the
number of shares of common stock reserved for issuance under the Stock
Compensation Plan from 200,000 to 1 million shares. The Board also authorized
the issuance of 80,000 Incentive Stock Options under the proposed 2001 Plan
subject to the approval of said Plan by the shareholders. In the event the 2001
Plan is not approved, the options will be treated as Non-Qualified Stock Options
rather than Incentive Stock Options.

---

## Option Grants
Table

No options were granted to
the Companys Executive Officers during the year ending December 31, 2000.

## Aggregated
Option Exercises In 2000 And Year-End Option Values/Table

`Value of
                                                                            Unexercised
                                                        Number of          In-the-Money
                                                       Unexercised          Options at
                                                        Options at           year-end
                          Shares                         Year-end               ($)
                         Acquired        Value         Exercisable/        Exercisable/
          Name          on Exercise    Realized       Unexercisable      Unexercisable (1)
-------------------     -----------    --------       -------------      ----------------

Michael I. Ruxin            ---           ---      250,000 / 2,000,000   $     0 / 0

Thomas F. Marcinek          ---           ---       360,000 / 640,000          0 / 0

Gerald F. Willman           ---           ---        110,000 / 40,000          0 / 0

Gary L. Cook                ---           ---        30,000 / 20,000           0 / 0`

No options were exercised
during 2000 by the Company's executive officers.

|(1) | Based on the
closing  bid price of the  Company's  Stock of $0.41 per share on  December  29,
2000.
|--- | ---------------------------------------------------------------------------------------------------

## Long-Term
Incentive Plan (LTIP) Awards Table

No long term incentive plan
awards were granted by the Company to any of the executive officers or directors
of the Company during the year ended December 31, 2000.

## Compensation
Of Directors

Standard
Arrangements. Members of the Companys Board of Directors are not
compensated in their capacities as board members. However, the Company
reimburses all of its officers, directors and employees for accountable expenses
incurred on behalf of the Company. Currently, the Company does not pay any
directors fees for attendance at board meetings.

Other Arrangements.
During 2000, the Company sold 200,000 shares of common stock to a director at
$0.50 per share. The Company recognized $189,000 in compensation expense
associated with these sales as the stock was sold at a discount. During 2000,
the Company also authorized the issuance of 35,000 shares to a director. Of the
35,000 authorized shares, none had been issued as of December 31, 2000. These
shares will be issued at a rate of 7 thousand a year as they are earned. These
shares were valued at $37 thousand, and no compensation expense was recognized
during 2000 related to these shares. The Company has no other arrangements
pursuant to which any director of the Company was compensated during the year
ended December 31, 2000 for services as a director.

---

On August 1, 1998, the
Company entered into an employment agreement with Dr. Ruxin for a period of
three years commencing August 1, 1998. The initial term of this agreement can be
extended at the close of the second year for an additional two years beyond the
initial term (creating a term of five years from August 1, 1998). Under the
agreement, Dr. Ruxin receives a salary of $190,000 per year and certain other
fringe benefits. Dr. Ruxins employment agreement includes a cost-of-living
increase, plus any other increase which may be determined from time to time at
the discretion of the Companys Board of Directors. Dr. Ruxins
employment under the employment agreement may be terminated by Dr. Ruxin upon
the sale by the Company of substantially all of its assets, a decision by merger
or consolidation of the Company to terminate its business and liquidate its
assets, the Company with another entity or an agreement to such a merger or
consolidation or any other type of reorganization, or if the Company makes a
general assignment for the benefit of creditors, files for voluntary bankruptcy
or if a petition for the involuntary bankruptcy of the Company is filed in which
an order for relief is entered and remains in effect for a period of thirty days
or more, or if the Company seeks, consents to, or acquiesces in the appointment
of a trustee, receiver or liquidator of the Company or any material part of its
assets. Dr. Ruxins employment under the employment agreement also may be
terminated by reason of Dr. Ruxins death or disability or for cause as set
forth in the employment agreement. If the Company for any reason other than
cause or permanent disability terminates the agreement, the Company must pay Dr.
Ruxin compensation, benefits and incentives at the rate in effect at termination
for twenty-four months following the date of termination. Pursuant to Dr.
Ruxins Employment Agreement, the Company authorized the issuance to Dr.
Ruxin of a nonqualified stock option to purchase 1,000,000 shares of the
Companys common stock at $0.75 per share, exercisable when the
Corporations annual audited financial statements reflect earnings of $0.01
per share, or after a vesting period of sixty months, whichever occurs first and
for ten years.

On August 1, 1998, the
Company also entered into an employment agreement with Thomas F. Marcinek for a
period of three years commencing August 1, 1998. The initial term of this
agreement can be extended at the close of the second year for an additional two
years beyond the initial term (creating a term of five years from August 1,
1998). Under the agreement, Mr. Marcinek receives a salary of $125,000 per year
and certain other fringe benefits. Mr. Marcineks employment agreement
includes an annual cost-of-living increase, plus any other increase which may be
determined from time to time at the discretion of the Companys Board of
Directors. The agreement also contains non-solicitation and annual incentive
compensation provisions.

Pursuant to the agreement
in 1998, Mr. Marcinek received incentive stock options under the Companys
Stock Option Plan, as amended, to purchase an aggregate of 350,000 shares of the
Companys common stock. The options vest at the rate of 20% per year over a
period of five years. If the Company (i) sells substantially all its assets, or
(ii) merges or consolidates with another entity or otherwise reorganizes or
(iii) terminates Mr. Marcinek for any reason other than for cause prior to the
expiration of the agreement, then the entire 350,000 in options shall become
100% vested and immediately exercisable.

Mr. Marcinek may terminate
his employment under the employment agreement under the same circumstance as set
forth in Dr. Ruxins employment agreement. If the Company for any reason
other than cause or permanent disability terminates Mr. Marcineks
employment agreement, the Company must pay Mr. Marcinek compensation, benefits
and incentives at the rate in effect at termination for twelve months following
the date of termination.

During 1999, the Board of
Directors approved salary increases for Ruxin and Marcinek. The increases range
from 15% to 20% and are payable effective August 1, 1999, when the Company has
achieved positive cash flow from operations. The Board of Directors also
approved bonuses in amounts of $50,000 and $25,000 for Ruxin and Marcinek,
respectively, payable when the Company has achieved positive cash flow from
operations.

---

## ITEM  11.
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The Company is currently
controlled by Online International and its principals, Fai H. Chan, Kwok Jen
Fong, Robert H. Trapp and Tony T. W. Chan, which have appointed six of the nine
members of the Board of Directors of the Company. These directors are Fai H.
Chan, Kwok Jen Fong, Robert H. Trapp, Tony T. W. Chan, Gary L. Cook and Jeffrey
M. Busch. In addition, Online International and its subsidiaries currently own
12,553,507 shares of the Companys common stock and derivative securities
which may be exercised and/or converted into 5,967,000 shares of the
Companys common stock. Online International owns 98.6% of eCredit
Singapore (PTE) Ltd., which, in turn, owns 100% of Online Credit. Online
International also owns approximately 38% (beneficially approximately 67%) of
the outstanding common stock of eVision. eVision owns 40% of the outstanding
common stock of eBanker. Online International beneficially owns 9,463,507 shares
of the Companys common stock; 1,000,000 warrants of the Companys
common stock, exercisable at $0.25 per share until April 14, 2008; and a
$3,828,700 promissory note which is convertible into 3,828,700 shares of the
Companys common stock at $1.00 per share through its subsidiary, eBanker.
eVision owns 100% of the outstanding common stock of AFFC. AFFC owns warrants to
purchase 46,100 units at $11.55 per unit, exercisable until February 11, 2003,
each unit consisting of two shares of common stock and a warrant to purchase one
share of common stock at $7.51, exercisable until February 11, 2003. eVision
owns a warrant to purchase 1,000,000 shares of the Companys common stock,
exercisable at $0.25 per share until April 14, 2008.

During 2000, the Company
issued eBanker a total of 8,857,600 unregistered shares of common stock of the
Company. The shares issued to eBanker during 2000 were comprised of the
following:

|o | Warrants to acquire 8 million shares of common stock at $0.25 per share were
exercised and paid for through the exchange of $2 million in related party
debt
|- | ------------------------------------------------------------------------------------------------------------------------------------------------------------

|o | 857 thousand in common shares issued related to financings
|- | ----------------------------------------------------------

The Company has plans to
register shares during 2001.

## Security
Ownership of Beneficial Owners

The following table sets
forth, as of February 28, 2001, the ownership of the Companys common
stock, based upon 22,486,386 shares of common stock outstanding, by (i) each
director and executive officer of the Company, (ii) all directors and executive
officers of the Company as a group, and (iii) all persons known by the Company
to beneficially own more than 5% of the Companys common stock.

---

`Amount and Nature of Beneficial Ownership(2)
                                                           --------------------------------------------
                                                                                   Combined
                                                                                  Shares of
                                                                                    Common
                                                                                  Stock and
                                                          Percent of    Shares      Shares    Combined
                                             Shares of      Common    Underlying  Underlying  Percent of
                            Position With      Common      Stock Out- Derivative  Derivative   Common
Name and Address               Company         Stock       Standing   Securities  Securities    Stock
----------------            -------------    ---------    ----------- ----------  ---------- ----------      -----

Michael I. Ruxin, M.D.         Chairman of       457,106      2.0%    256,250(3)     713,356    3.1%
12600 W. Colfax               the Board and
Suite C-420                       Chief
Lakewood, CO 80215              Executive
                                 Officer

Fai H. Chan (1)                 Director      12,553,507(4)  55.8%  6,217,000(5)  18,770,507   65.4%
2601, Island Place Tower
510 King's Road
North Point, Hong Kong

Jeffrey M. Busch                Director         156,000      0.7%  1,000,000(6)   1,156,000    4.9%
3828 Kennett Pike
Suite 206
Greenville, DE  19807

Gerald F. Willman, Jr.        Director and      882,514(7)    3.9%    112,000(8)     994,514    4.4%
4925 Robert J. Mathews            Vice
Parkway, Suite 100             President-
El Dorado Hills, CA 9576      International
                                Business
                               Development
                                (Wyndgate
                              Technologies)

Gordon E. Segal, M.D.           Director         461,000      2.1%     74,250(9)     535,250    2.4%
3850 Kim Lane
Encino, CA 91436

Thomas F. Marcinek            President and       20,500      0.1%    360,000(10)    380,500    1.7%
4925 Robert J. Mathews            Chief
Parkway, Suite 100              Operating
El Dorado Hills, CA 9576         Officer

Kwok Jen Fong                   Director           -0-        0.0%    150,000(11)    150,000    0.7%
7 Tamasek Blvd.
#43-03 Suntec
Tower One
Singapore 038987

Gary L. Cook                    Director,         7,000       0.0%     30,000(12)     37,000    0.2%
1700 Lincoln Street              Acting
32nd Floor                      Principal
Denver, CO 80203                Financial
                               Officer and
                                Treasurer`

---

`Robert H. Trapp                 Director           -0-        0.0%     30,000(13)     30,000    0.1%
1700 Lincoln Street
32nd Floor
Denver, CO 80202

Kim Geist                       Secretary          -0-        0.0%     13,000(14)     13,000    0.01%
12600 W. Colfax
Suite C-420
Lakewood, CO 80215

Tony T.W. Chan                  Director           -0-        0.0%     10,000(15)     10,000    0.0%
1700 Lincoln Street
32nd Floor
Denver, CO 80203

All Directors and Executive                   14,537,627     64.7%  8,252,500     22,790,127   74.1%
Officers as a group (11
persons)

Online Credit International        None       12,553,507(16) 55.8%  5,967,000(17) 18,520,507   65.1%
2601, Island Place Tower
510 King's Road
North Point, Hong Kong`

(1) Fai H. Chan is an
officer, director and 11.8% shareholder of Online Credit International and,
therefore, is a beneficial owner of the shares beneficially owned by Online
Credit International and its subsidiaries. Messrs. Fong, Trapp, Busch, Cook and
Tony T. W. Chan are also officers, directors and/or shareholders of Online
Credit International and/or certain of its subsidiaries; however, they disclaim
beneficial ownership of the shares beneficially owned by Online Credit
International and its subsidiaries. Online Credit International owns 98.6% of
the outstanding common stock of Heng Fung Capital (S) Limited (Heng Fung
Capital). Heng Fung Capital owns 100% of the outstanding common stock of
Online Credit Ltd., f.k.a. Heng Fung Finance Company Limited (Online
Credit Ltd.) and approximately 31% (beneficially approximately 76%) of the
outstanding common stock of eVision USA.Com, Inc., formerly known as Fronteer
Financial Holdings Ltd. (eVision). eVision owns a majority of the
outstanding common stock of eBanker USA.com, Inc., formerly Fronteer Development
Finance, Inc. (eBanker), and 100% of the outstanding common stock of
American Fronteer Financial Corporation, formerly RAF Financial Corporation
(AFFC), the underwriter of the Companys initial public
offering, and 100% of eBiz Solutions, Inc. (eBiz). Online Credit
Ltd. owns 2,000,000 shares of the Companys common stock. eBanker owns: (i)
9,463,507 shares of the Companys common stock; (ii) warrants to purchase
1,000,000 shares of the Companys Common Stock, exercisable at $0.25 per
share until April 14, 2008; and (iii) a $3,828,700 promissory note which is
convertible into 3,828,700 shares of the Companys common stock at $1.00
per share. eVision owns: (i) 1,050,000 shares of the Companys common
stock; and (ii) warrants to purchase 1,000,000 shares of the Companys
common stock, exercisable at $0.25 per share until April 14, 2008. AFFC owns
warrants to purchase 46,100 units at $11.55 per unit, exercisable until February
11, 2003, each unit consisting of two shares of the Companys common stock
and a warrant to purchase one share of the Companys common stock at $7.51,
exercisable until February 11, 2003. eBiz, owns 40,000 shares of the
Companys common stock.

(2) Calculated pursuant to
Rule 13d-3(d) of the Securities Exchange Act of 1934, as amended (the "1934
Act"). Unless otherwise stated below, each such person has sole voting and
investment power with respect to all such shares and, under Rule 13d-3(d),
shares not outstanding which are subject to options, warrants, rights or
conversion privileges exercisable within 60 days are deemed outstanding for the
purpose of calculating the number and percentage owned by such person, but are
not deemed outstanding for the purpose of calculating the percentage owned by
each other person listed.

(3) Includes 6,250 shares
underlying warrants issued in connection with the purchase of 10% Notes and
250,000 shares underlying options. Does not include 2,000,000 shares underlying
options which are not exercisable within 60 days of the date hereof.

---

(4) Includes the following
shares owned by subsidiaries of Online Credit International, of which Mr. Chan
is an officer, director and 11.8% shareholder: (i) 2,000,000 shares owned by
Online Credit Ltd.; (ii) 9,463,507 shares owned by eBanker; (iii) 1,050,000
shares owned by eVision; and (iv) 40,000 shares owned by eBiz.

(5) Includes the following
shares underlying derivative securities owned by subsidiaries of Online Credit
International, of which Mr. Chan is an officer, director and 11.8% shareholder:
(i) 1,000,000 shares underlying warrants owned by eBanker; (ii) 1,000,000 shares
underlying warrants owned by eVision; (iii) 138,300 shares underlying warrants
to purchase 46,100 units, each unit consisting of 2 shares of common stock and
one warrant, owned by AFFC; and (iv) a $3,828,700 promissory note which is
convertible into 3,828,700 shares of common stock at $1 per share. Also includes
250,000 shares underlying options issued to Mr. Chan for services as a director
of the Company.

(6) Includes 400,000 shares
underlying options and 600,000 shares underlying warrants.

(7) Includes 346,481
shares owned by Lori J. Willman, the spouse of Mr. Willman.

(8) Includes 110,000
shares underlying options owned by Mr. Willman and 2,000 shares underlying
options owned by Lori J. Willman, the spouse of Mr. Willman. Does not include
40,000 shares underlying options owned by Mr. Willman and 8,000 shares
underlying options owned by Mrs. Willman which are not exercisable within 60
days of the date hereof. Mr. Willman has granted individual options to certain
employees of Wyndgate Technologies to purchase all or any part of 109,434 of his
shares of the Company, exercisable until September 21, 2005.

(9) Includes 6,250 shares
underlying warrants issued in connection with 10% Notes and 68,000 shares
underlying options. Does not include 12,000 shares underlying options which are
not exercisable within 60 days of the date hereof.

(10) Includes 360,000
shares underlying options. Does not include 640,000 options which are not
exercisable within 60 days of the date hereof.

(11) Includes 150,000 shares
underlying options.

(12) Includes 30,000
shares underlying options. Does not include 20,000 shares underlying options
which are not exercisable within 60 days of the date hereof. Does not include
28,000 shares which do not vest within 60 days of the date hereof.

(13) Includes 30,000 shares
underlying options. Does not include 20,000 shares underlying options which are
not exercisable within 60 days of the date hereof.

(14) Includes 13,000 shares
underlying options. Does not include 7,000 shares underlying options which are
not exercisable within 60 days of the date hereof.

(15) Includes 10,000 shares
underlying options. Does not include 40,000 shares underlying options which are
not exercisable within 60 days of the date hereof.

(16) Includes the following
shares owned by subsidiaries of Online Credit International: (i) 2,000,000
shares owned by Online Credit Ltd.; (ii) 9,463,507 shares owned by eBanker;
(iii) 1,050,000 shares owned by eVision; and (iv) 40,000 shares owned by eBiz.

(17) Includes the following
shares underlying derivative securities owned by subsidiaries of Online Credit
International: (i) 1,000,000 shares underlying warrants owned by eBanker; (ii)
1,000,000 shares underlying warrants owned by eVision; (iii) 138,300 shares
underlying warrants to purchase 46,100 units, each unit consisting of two shares
of common stock and one warrant, owned by AFFC; and (iv) 3,828,700 shares
underlying a $3,828,700 promissory note which is convertible into 3,828,700
shares of common stock at the rate of $1.00 per share.

## ITEM 12.
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

The Board of Directors of
the Company has adopted resolutions that no business transaction, loan or
advance will be made by the Company to any officer, director or holder of more
than 5% of the Companys common stock, or any affiliate thereof, unless it
has been established that a bona fide business purpose exists, that all future
transactions between the Company and its officers, directors, or principal
shareholders, or any affiliate of any of such person, must be approved or
ratified by a majority of the disinterested directors of the Company, and the
terms of such transaction must be no less favorable to the Company than could
have been realized by the Company in an arms-length transaction with an
unaffiliated person. The Company believes that all ongoing transactions with the
Companys affiliates are on terms no less favorable than could be obtained
from unaffiliated third parties.

---

The Board of Directors of
the Company adopted a resolution in July 1996 that provides that the areas of
business in which the Company shall be interested for the purpose of the
doctrine of corporate opportunities shall be the business of information
management software products and services. Any business opportunity which falls
within such areas of interest must be brought to the attention of the Company
for acceptance or rejection prior to any officer or director of the Company
taking advantage of such opportunity. Any business opportunity outside such
areas of interest may be entered into by any officer or director of the Company
without the officer or director first offering the business opportunity to the
Company.

Dr. Ruxin has personally
guaranteed $650 thousand plus pro rata interest of the outstanding loan balance
with eBanker associated with the November 19, 2000 Loan Agreement. The personal
guarantee is limited to certain of Dr. Ruxins assets.

# PART IV

## ITEM 13.
EXHIBITS AND REPORTS ON FORM 8-K

## (a) Exhibits.

See
"EXHIBIT INDEX" on page 31.

## (b) Current
Reports on Form 8-K:

A Current Report on Form
8-K dated November 20, 2000 was filed on the same date to report under Item 5.
The Current Report contained information related to the Companys operating
results for the three months ended quarter September 30, 2000 and announced
amended results for the three months ended March 31, 2000 and three and six
months ended June 30, 2000.

---

# Independent
Auditors Report

Board of
Directors
Global Med Technologies, Inc. and Subsidiary

We have audited the
accompanying consolidated balance sheets of Global Med Technologies, Inc. and
Subsidiary as of December 31, 2000 and 1999, and the related consolidated
statements of operations, stockholders equity (deficit) and cash flows for
the years then ended. These financial statements are the responsibility of the
Companys management. Our responsibility is to express an opinion on these
financial statements based on our audits.

We conducted our
auditsin 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, such
consolidated financial statements present fairly, in all material respects, the
financial position of Global Med Technologies, Inc. and Subsidiary as of
December 31, 2000 and 1999, and the results of their operations and their cash
flows for the yearsthen ended in conformity with accounting
principles generally accepted in the United States of America.

Denver, Colorado
April 12, 2001

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY
CONSOLIDATED
BALANCE SHEETS
(In thousands, except per share information)

`December 31,
                                                                               2000       1999
                                                                               ----       ----
ASSETS
------

CURRENT ASSETS:

   Cash and cash equivalents ............................................   $ 1,210    $   330
   Accounts receivable-trade, net of allowance for uncollectible accounts
       of  $50 at December 31, 2000 and 1999 ............................       789        445
   Accrued revenues, net of allowance for uncollectible accounts of
       $15 at December 31, 2000 and 1999 ................................       232        324
   Prepaid expenses and other assets ....................................       105         66
                                                                            -------    -------

Total current assets ....................................................     2,336      1,165

EQUIPMENT, FURNITURE AND FIXTURES, AT COST:
   Furniture and fixtures ...............................................       270        167
   Machinery and equipment ..............................................       208        306
   Computer hardware and software .......................................     1,623      1,583
                                                                            -------    -------

                                                                              2,101      2,056
Less accumulated depreciation and amortization ..........................    (1,728)    (1,564)
                                                                            -------    -------

Net equipment, furniture and fixtures ...................................       373        492

DEFERRED FINANCING COSTS, RELATED PARTY,
   net of accumulated amortization of $390 and $10,853 at
   December 31, 2000 and 1999, respectively .............................       189        300

CAPITALIZED SOFTWARE DEVELOPMENT COSTS,
   net of accumulated amortization of $1,789 and $1,126 at
   December 31, 2000 and 1999, respectively .............................     1,177      1,566

OTHER ASSETS ............................................................       273         65
                                                                            -------    -------


Total assets ............................................................   $ 4,348    $ 3,588
                                                                            =======    =======
                                                                                    (continued)`

See  accompanying notes to
the consolidated financial statements.

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY
CONSOLIDATED
BALANCE SHEETS (CONTINUED)
(In thousands, except per share information)

`December 31,
                                                                             2000        1999
                                                                             ----        ----
LIABILITIES AND STOCKHOLDERS' DEFICIT
-------------------------------------

CURRENT LIABILITIES:

   Accounts payable .................................................   $    465    $    303
   Accrued expenses .................................................        888         808
   Accrued payroll ..................................................        159          87
   Accrued compensated absences .....................................        378         412
   Noncompete accrual ...............................................         35          35
   Deferred revenue .................................................      1,299         482
   Current portion of capital lease obligations .....................        137         145
                                                                        --------    --------

Total current liabilities ...........................................      3,361       2,272

DEFERRED REVENUE, less current portion ..............................        838       1,020

CAPITAL LEASE OBLIGATIONS, less current portion .....................         65         179

FINANCING AGREEMENTS, RELATED PARTY .................................      3,829       4,400
                                                                        --------    --------

Total liabilities ...................................................      8,093       7,871
                                                                        --------    --------

COMMITMENTS AND CONTINGENCIES (Notes 2, 4, 5 and 9)

STOCKHOLDERS' DEFICIT:

   Preferred stock, $.01 par value: Authorized shares - 10,000;
      none issued or outstanding ....................................       --          --
   Common stock, $.01 par value: Authorized shares - 40,000;
      issued and outstanding shares-22,229 and 11,638 at December 31,
      2000 and 1999, respectively ...................................        222         116
   Additional paid-in capital .......................................     32,482      27,158
   Accumulated deficit ..............................................    (36,449)    (31,557)
                                                                        --------    --------

Total stockholders' deficit .........................................     (3,745)     (4,283)
                                                                        --------    --------

Total liabilities and stockholders' deficit .........................   $  4,348    $  3,588
                                                                        ========    ========
                                                                                    (concluded)`

See  accompanying notes to
the consolidated financial statements.

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY
CONSOLIDATED
STATEMENTS OF OPERATIONS
(In
thousands, except per share information)

`Year Ended December 31,
                                                              2000        1999
                                                              ----        ----
REVENUES:
   License fees, maintenance and usage fees ............   $  3,516    $  3,887
   Implementation and consulting services ..............        863       1,268
   Hardware sales ......................................       --           235
                                                           --------    --------
                                                              4,379       5,390
                                                           --------    --------

COST OF REVENUES:
   License fee, maintenance and usage fees .............      1,124       1,466
   Implementation and consulting services ..............        505       1,234
   Hardware sales, obtained from vendors ...............       --           247
                                                           --------    --------
                                                              1,629       2,947
                                                           --------    --------

Gross profit ...........................................      2,750       2,443

OPERATING EXPENSES:
   General and administrative ..........................      2,766       2,431
   Sales and marketing .................................      1,417         972
   Research and development ............................        709         334
   Depreciation and amortization .......................        164         520
                                                           --------    --------
Loss from operations ...................................     (2,306)     (1,814)

OTHER INCOME (EXPENSE):
   Interest income .....................................         16         117
   Interest expense ....................................        (41)        (91)
   Interest expense to related party ...................       (577)       (374)
   Financing costs to related party ....................     (1,984)     (6,039)
   Other ...............................................       --           256
                                                           --------    --------

Net loss ...............................................   $ (4,892)   $ (7,945)
                                                           ========    ========

Basic and diluted loss per common share ................   $  (0.36)   $  (0.75)
                                                           ========    ========

Weighted average number of common shares outstanding ...     13,745      10,554
                                                           ========    ========`

See  accompanying notes to
the consolidated financial statements.

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY
CONSOLIDATED
STATEMENTS OF STOCKHOLDERS EQUITY (DEFICIT)
(In thousands)

`Common Stock     Additional
                                                  ------------------   paid-in    Accumulated
                                                  Shares      Amount   capital       Deficit    Total
                                                  ------      ------  ----------  -----------   -----

Balances, December 31, 1998 .................      8,882   $     89   $ 24,884   $(23,612)   $  1,361

Exercise of warrants in relation to
     financing agreements ...................      2,000         20        480       --           500

Issuance of common stock in consideration
     of debt financings .....................        156          1        175       --           176

Issuance of common stock for services .......        100          1         81       --            82

Issuance of common stock for Lockup
     Agreement ..............................        500          5        292       --           297

Fair value of options issued to consultants .       --         --           26       --            26

Fair value of amendments to warrants ........       --         --        1,217       --         1,217

Employee stock based compensation ...........       --         --            3       --             3

Net loss ....................................       --         --         --       (7,945)     (7,945)
                                                --------   --------   --------   --------    --------

Balances, December 31, 1999 .................     11,638        116     27,158    (31,557)     (4,283)

Exercise of warrants in relation to financing
     agreements .............................      8,000         80      1,920       --         2,000

Issuance of common stock to a related party
     in consideration of debt financings ....        857          8        919       --           927

Exercise of stock options ...................         44          1         40       --            41

Issuance of common stock at a discount ......       --         --        1,129       --         1,129

Issuance of common stock for cash ...........      1,370         14        671       --           685

Issuance of common stock for services .......        320          3        444       --           447

Fair value of options issued to consultants .       --         --           37       --            37

Contributed capital .........................       --         --          164       --           164

Net loss ....................................       --         --         --       (4,892)     (4,892)
                                                --------   --------   --------   --------    --------

Balances, December 31, 2000 .................     22,229   $    222   $ 32,482   $(36,449)   $ (3,745)
                                                ========   ========   ========   ========    ========`

See  accompanying notes to
the consolidated financial statements.

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY
CONSOLIDATED
STATEMENTS OF CASH FLOWS
(In thousands)

`Year Ended December 31,
                                                               2000        1999
                                                               ----        ----
CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss ...............................................    $(4,892)    $(7,945)
Adjustments to reconcile net loss to net cash used
  in operating activities:
     Depreciation and amortization .....................        164         520
     Amortization of software development costs ........        663         403
     Amortization of financing costs, related party ....      1,984       4,822
     Issuance of common stock, options and warrants
       for services and other ..........................        463       1,328
     Other .............................................       --            33
     Changes in operating assets and liabilities:
        Accounts receivable-trade ......................       (344)        (32)
        Accrued revenues ...............................         92        (281)
        Prepaid expenses and other assets ..............        (44)         52
        Accounts payable ...............................        162          69
        Accrued expenses ...............................        509         171
        Accrued payroll ................................         72          34
        Accrued compensated absences ...................        (34)        (26)
        Deferred revenue ...............................        635        (433)
                                                            -------     -------

Net cash used in operating activities ..................       (570)     (1,285)
                                                            -------     -------

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchases of equipment and fixtures ....................        (45)       (218)
Proceeds from sales of property and equipment ..........       --             6
Increase in capitalized software development costs .....       (273)     (1,049)
                                                            -------     -------

Net cash used in investing activities ..................       (318)     (1,261)
                                                            -------     -------`

See  accompanying notes to
the consolidated financial statements.

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY
CONSOLIDATED
STATEMENTS OF CASH FLOWS (CONTINUED)
(In thousands)

`Year Ended December 31,
                                                               2000       1999
                                                               ----       ----
CASH FLOWS FROM FINANCING ACTIVITIES:

Borrowings on short-term debt ..........................    $ 1,000     $ 1,450
Principal payments on bridge loan ......................       --          (200)
Borrowings on bridge loan ..............................       --           950
Principal payments under capital lease obligations .....       (122)       (145)
Exercise of common stock options .......................         41        --
Minority investment in subsidiary ......................        164        --
Issuance of common stock, net offering costs ...........        685        --
                                                            -------     -------

Net cash provided by financing activities ..............      1,768       2,055
                                                            -------     -------

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS ...        880        (491)

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR .........        330         821
                                                            -------     -------

CASH AND CASH EQUIVALENTS AT END OF YEAR ...............    $ 1,210     $   330
                                                            =======     =======`

## SUPPLEMENTAL
DISCLOSURES OF NONCASH TRANSACTIONS:

Cash paid for interest in
2000 and 1999 was $314  and  $314,  respectively.  Of the $314 in cash  paid for
interest  in 2000 and 1999,  $273 and $224,  respectively,  was paid to eBanker.

During 2000, the Company
entered into the following noncash transactions:

|o | The Company issued 8,000 shares of common stock upon exercise of warrants in
exchange for the retirement of $2,000 of outstanding indebtedness.
|- | -----------------------------------------------------------------------------------------------------------------------------------------------

|o | The Company issued 857 shares of its common stock for payment of financing costs
of $927.
|- | -----------------------------------------------------------------------------------------

|o | In exchange for services, the Company issued 320 shares of common stock with a
fair value of $447, options to consultants for 35 shares of common stock with a
fair value of $37.
|- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

See  accompanying notes to
the consolidated financial statements.

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY
NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS

## NOTE 1.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

DESCRIPTION OF BUSINESS

On May 23, 1995, The
Wyndgate Group, Limited (Wyndgate) merged with National MRO, Inc. (National MRO)
and National MRO changed its name to Global Data Technologies, Inc., which
subsequently changed its name to Global Med Technologies, Inc. Global Med
Technologies, Inc. provides information management software products and
services to the health care industry.

During 1999, Global Med
Technologies, Inc. formed a subsidiary, PeopleMed.com, Inc.
(PeopleMed), a Colorado corporation, which is approximately 83%
owned by the Company to develop a software application designed to give HMO
providers and other third party payers access to clinical information for
chronic disease patients. This application allows doctors and other medical
employees access to a patients history. Approximately 14% of PeopleMed is
owned by certain officers and directors of Global Med Technologies, Inc. The
remaining 3% of PeopleMed common shares are owned by unaffiliated shareholders.
Global Med Technologies, Inc. and PeopleMed are referred to collectively as the
Company or Global Med. The Company operates in one
segment.

RELATED PARTIES

Global Med is financed
primarily through lending arrangements provided by eBanker USA.com, Inc.
(eBanker) as discussed further in Note 2. eBanker is a subsidiary of
eVisionUSA.com, Inc. (eVision). eVision is majority owned by Online Credit
International Limited (Online International) and its subsidiary Online Credit
Limited (Online Credit). Online Credit, eVision and eBanker all are shareholders
of Global Med. Additionally, eBanker and eVision each hold warrants to acquire
an additional 1,000,000 of Global Meds common stock with an exercise price
of $0.25 per share. As discussed further in Note 2, in November 2000, eBanker
and Global Med entered into a series of transactions that resulted in Global Med
becoming a consolidated subsidiary of eBanker and eVision.

During 2000, eVision
provided the Company with various accounting services. The Company recognized
$117,000 in general and administrative expenses related to these services.
During 2000 and 1999, the Company incurred $604,000 and $374,000, respectively,
in interest charges from eBanker. The Company capitalized $27,000 in interest
charges from eBanker to software development costs during 2000. During 2000 and
1999, all of the Companys financing costs were derived from arrangements
with eBanker or eVision.

As a result of these
transactions and relationships, the financial condition and results of
operations Global Med may not necessarily by indicative of those that would have
resulted if Global Med were unaffiliated with these entities.

BASIS OF PRESENTATION

During 2000 and 1999, the
Company incurred losses and used significant amounts of cash in operations. For
the year ended December 31, 2000, the Company used cash of $570,000 in operating
activities

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY

# NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

compared to $1,285,000 for
the year ended December 31, 1999. In November 2000, eBanker agreed to extend the
due dates for the  principal  and interest on each of the  financing  agreements
until July 1, 2001. (See Note 2). Management anticipates that the cash, accounts
receivable  balances,  recurring  revenues,  proceeds  from the  sales of common
stock,  and  any  future   financing   activities  will  be  used  to  fund  the
Companys  anticipated  research and development costs, sales and marketing
efforts during the remainder of 2001 and for general working  capital  purposes.
The Company continues to pursue financing  alternatives  through the issuance of
additional equity or debt.

BASIS OF CONSOLIDATION

The consolidated financial
statements include the accounts of Global Med and its majority-owned subsidiary.
Intercompany accounts and transactions are eliminated in consolidation. There is
no minority interest reflected in the consolidated balance sheet at December 31,
2000 and 1999 because PeopleMed had a shareholders deficit.

USE OF ESTIMATES

The preparation of
financial statements in conformity with accounting principles generally accepted
in the United States of America requires the Companys 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.

CASH AND CASH EQUIVALENTS

For purposes of the
accompanying statements of cash flows, the Company considers all highly liquid
investments with original maturities of three months or less when purchased to
be cash equivalents.

CREDIT RISK AND MARKET RISK

Accounts receivable at
December 31, 2000 and 1999 are derived from SAFETRACE® and from SAFETRACETx
TM sales and related services to blood centers and blood center
service providers located in the United States. Historically, the Company has
not required collateral or other security to support customer receivables. In
order to reduce credit risk, the Company requires substantial down payments and
progress payments during the course of an installation of its software products.
The Company establishes allowances for doubtful accounts based upon factors
surrounding the credit risk specific to customers.

The Company has customers
located in numerous locations across the United States and sales are not
concentrated in any geographic or economic region.

EQUIPMENT,  FURNITURE AND
FIXTURES

Equipment, furniture and
fixtures are stated at cost. Depreciation and amortization, which includes
amortization of assets under capital leases, is based on the straight-line
method over estimated useful lives ranging from three to five years.

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY

# NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

LONG-LIVED ASSETS

Long-lived assets are
reviewed for impairment whenever events or changes in circumstances indicate
that the carrying value of an asset may not be recoverable. An impairment loss
is recognized when estimated undiscounted future cash flows expected to be
generated by the asset are less than its carrying value. Measurement of the
impairment loss is based on the fair value of the asset, which is generally
determined using valuation techniques such as discounted present value of
expected future cash flows. Management does not believe current events or
circumstances indicate that the Companys long-lived assets are impaired at
December 31, 2000 or 1999.

SOFTWARE DEVELOPMENT COSTS

In accordance with the
provisions of Statement of Financial Accounting Standard (SFAS) No. 86,
Accounting for the Costs of Computer Software to be Sold, Leased or Otherwise
Marketed, the Company capitalizes software development and production costs
once technological feasibility has been achieved. Software development costs
incurred prior to achieving technological feasibility are included in research
and development expense in the accompanying statement of operations.

Capitalized software
development costs are reported at the lower of unamortized cost or net
realizable value. Commencing upon the initial product release or when software
development revenue has begun to be recognized, these costs are amortized, based
on current and future revenue for each product with an annual minimum equal to
the straight-line amortization over the remaining estimated economic life of the
product, generally three years. For the years ended December 31, 2000 and 1999,
the Company recorded approximately $663,000 and $403,000 of amortization,
respectively. Amortization of capitalized software costs is included in cost of
revenues in the accompanying statements of operations.

NONCOMPETE AGREEMENTS

The Company has entered
into noncompete agreements with three key employees, two of which also served on
the Companys Board of Directors, for $350,000. The terms of the agreements
are for the greater of five years or the term of the related employees
employment contract. At December 31, 2000 and 1999, $35,000 remains payable
whenever sufficient cash flow is available as determined by the Companys
Board of Directors.

INCOME TAXES

Deferred tax assets and
liabilities are recognized for the future tax consequences attributable to
differences between the financial statement carrying amounts of existing assets
and liabilities and their respective tax bases. Deferred tax assets and
liabilities are measured using enacted tax rates expected to apply to taxable
income in the years in which those temporary differences are expected to be
recovered or settled. A valuation allowance is required to the extent any
deferred tax assets may not be realizable.

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY

# NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FINANCIAL INSTRUMENTS

The fair value of a
financial instrument represents the amount at which the instrument could be
exchanged in a current transaction between willing parties, other than in a
forced sale or liquidation. Significant differences can arise between the fair
value and carrying amount of financial instruments that are recognized at
historical cost amounts. The fair value of the Companys debt instruments
approximates fair value based on the Companys current incremental
borrowing rates for similar types of borrowing arrangements. Also, the carrying
amounts of the Companys financial assets approximate fair value due
to the short-term maturities of these items.

REVENUE RECOGNITION

The  Company  recognizes
revenue in accordance  the American  Institute of Certified  Public  Accountants
Statement  of  Position   (SOP)  No.  97-2,  Software  Revenue
Recognition.

The Companys standard
software license agreement for the Companys products provides for an
initial fee to use the product in perpetuity up to a maximum number of users.
Fees from software licenses are recognized as revenue upon shipment, provided
fees are fixed and determinable and collection is probable. Fees from licenses
sold together with consulting services are generally recognized upon shipment
provided that the above criteria have been met, payment of the license fees is
not dependent upon the performance of the consulting services and the consulting
services are not essential to the functionality of the licensed software. In
instances in which the consulting services are not essential to the
functionality of the software but payment of the license fee is due at the
earlier of the performance of specific consulting services or the passage of
time, the license fee is recognized ratably over the anticipated period of
performance of the services or ratably over the license fee billing period,
whichever is more readily determinable. If the consulting services are essential
to the functionality of the product or any portion of the payment of the license
fee is contingent solely upon the performance of consulting services, license
fees are recognized ratably over the anticipated period of performance of the
consulting services.

The Company provides
consulting services that include implementation, training and the performance of
other services to its customers. Revenue from such services is generally
recognized ratably over the period during which the applicable service is to be
performed.

Support agreements
generally call for the Company to provide technical support and software
updates, on an when-and-if-available basis to customers. Revenue on
technical support and software update rights is recognized ratably over the term
of the support agreement.

Revenues from the re-sale
of hardware and software, obtained from vendors, is recognized at the time the
hardware and software are delivered to customers.

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY

# NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

PeopleMed has contracts
that include fixed fee and per-member fees. The Company recognizes revenues from
these contracts as services are provided.

RESEARCH AND DEVELOPMENT

Research and development costs
are charged to expense as incurred. Research and development funding by others
is deferred and offset against capitalizable costs. Funded research and
development in excess of capitalizable costs is recognized as contract research
and development when the related product is ready for commercial release.

SIGNIFICANT CUSTOMERS

During the year ended
December 31, 2000, there were no customers accounting for more than 10% of
revenue. Revenue for the year ended December 31, 1999, includes $919,000
(approximately 17%), of accelerated software license fee payments in connection
with a multiple site customer agreement that was terminated and replaced by two
separate agreements.

LOSS PER COMMON SHARE

Basic net loss per common
share excludes dilution and is computed by dividing net loss by the
weighted-average number of common shares outstanding during the periods
presented. Diluted net loss per common share reflects the potential
dilution of securities that could participate in the earnings unless their
effort is antidilutive. Stock options, warrants outstanding and their
equivalents are included in diluted computations through the treasury
stock method unless they are antidilutive. Convertible securities are
included in diluted computations through the if converted method
unless they are antidilutive. Common share equivalents are excluded from the
computation, as their effect would be antidilutive. For the years ended December
31, 2000 and 1999 approximately 14,500,000 and 10,900,000 equivalent dilutive
securities (primarily convertible debt, common stock options, and warrants),
respectively, have been excluded from the weighted-average number of common
shares outstanding for the diluted net loss per share computations as they are
antidilutive.

STOCK BASED COMPENSATION

The Company has adopted the
"disclosure method" provisions of SFAS No. 123, Accounting for Stock-Based
Compensation. As permitted under SFAS No. 123, the Company continues to account
for stock-based compensation for awards to employees under the intrinsic value
based method of accounting as prescribed by Accounting Principles Board Opinion
No. 25 (APB No. 25), Accounting for Stock Issued to Employees. Stock based
compensation paid to consultants and other nonemployees is accounted for at fair
value under the provisions of SFAS No. 123.

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY

# NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

RECENTLY  ISSUED FINANCIAL
ACCOUNTING STANDARDS

In June 1998, the Financial
Accounting Standards Board issued Statement of Financial Accounting Standards
(SFAS) No. 133, Accounting for Derivative Instruments and Hedging Activities.
SFAS No. 133 requires companies to adopt its provisions for all fiscal quarters
of all fiscal years beginning after June 15, 2000 (as deferred by DFAS No. 137).
The new standard requires companies to record derivatives on the balance sheet
as assets or liabilities, measured at fair value. Gains or losses resulting from
changes in the values of those derivatives will be reported in the statement of
operations or in other comprehensive income depending on the use of the
derivatives and whether they qualify for hedge accounting. The key criterion for
hedge accounts is that the derivative must be highly effective in achieving
offsetting changes in fair value or cash flows of the hedged item during the
term of the hedge and must be designated as a hedge pursuant to various criteria
of SFAS No. 133. The Company adopted SFAS No. 133, as amended, on January 1,
2001. Historically, the Company has not entered into derivatives contracts to
hedge existing risks, and derivatives held for speculative purposes consist of
warrants held. The adoption of SFAS No. 133 on January 1, 2001, did not result
in a transition adjustment to the financial statements.

In December 1999, the
Securities and Exchange Commission issued Staff Accounting Bulletin No. 101,
Revenue Recognition in Financial Statements, which provides guidance with
respect to revenue recognition issues and disclosures (SAB
101). As amended by SAB Nos. 101A and 101B, the Company was required to
implement the provisions of SAB No. 101 no later than the fourth quarter of
the fiscal year ending December 31, 2000. The adoption of SAB 101 did not have a
material effect on the financial position or results of operations.

RECLASSIFICATIONS

Certain reclassifications
have been made to the 1999 financial statements to conform to the 2000
presentation.

## NOTE 2.
FINANCING AGREEMENTS, RELATED PARTY

Summary  of Financing
Agreements

At December 31, 2000, and
1999,  the  Company  had  the  following  amounts  outstanding  under  financing
agreements:

`2000         1999
                                                           ----         ----
          Promissory notes on initial lines of
               credit with eBanker                      $   --       $2,650,000
          Convertible promissory notes on
               $2,000,000 line of credit with eBanker       --        1,000,000
          Convertible bridge loan with eBanker              --          750,000
          Consolidated loan                             3,829,000         --
                                                        ----------    ----------
                                                        3,829,000     4,400,000
          Less current portion                              --            --
                                                        ----------    ----------
          Long term financing agreements                $3,829,000    $4,400,000
                                                        ==========    ==========`

At December 31, 2000 and
1999 the accrued interest balances on the loans from eBanker were $54,000 and
$151,000, respectively. The accrued interest balance is included in accrued
expense in the balance sheet.

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY

# NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

Financing Agreements
with Related Parties

In April 1998, Global Med
entered into financing agreements with Online Credit and Fronteer Capital, a
subsidiary of eVision. Online Credit committed to extend a line of credit in the
amount of $1.5 million and Fronteer Capital committed to extend $1.65 million
under separate agreements. The interest rate under both agreements was 12% per
annum. In consideration for the commitments, Global Med issued Online credit and
Fronteer Capital warrants to purchase 6 million and 1 million shares,
respectively, of Global Med common stock exercisable at $0.25 per share.
Fronteer Capital would be granted an additional warrant to acquire 5 million
shares of Global Med common stock at $0.25 per share upon the initial borrowing
under the financing agreement. Additionally, Online Credit was granted the right
to appoint five members to the board of directors of Global Med so long as there
are any amounts outstanding under its original agreement. Online Credit has
appointed such members to the board of directors of Global Med. In the event of
default, amounts due under these commitments were convertible into common shares
of Global Med at $0.05 per share.

In October 1998, eBanker
and Global Med agreed to an assignment of the loan commitment from Fronteer
Capital, excluding the warrant to purchase 1 million shares of common stock
issued in connection with the commitment. Global Med issued eBanker a warrant to
purchase 5 million shares of Global Med common stock at $0.25 per share upon
initial borrowing under the financing agreement in October 1998. Additionally,
in October 1998, eBanker purchased from Online Credit $1 million of its $1.5
million total notes receivable from Global Med and a warrant to purchase 4
million shares of common stock of Global Med at $0.25 per share for a total
purchase price of $1.1 million.

As of December 31, 1998,
Global Med owed eBanker the $1.65 million under Fronteer Capitals original
financing agreement plus the $1 million under Online Credits original
financing agreement for a total of $2.65 million. Additionally, at December 31,
1988 Global Med owed Online Credit $500 thousand under its financing agreement.
Amounts borrowed under these agreements were initially due in April 1999.

In March 1999, Online
Credit exercised its remaining 2 million warrants in cancellation of the
remaining $500 thousand it had extended to Global Med. Additionally, eBanker
extended the due date for the $2.65 million outstanding under its financing
agreements with Global Med until April 15, 2000. In consideration for the
extension, Global Med paid eBanker a 2% fee in the form of 42.4 thousand shares
of Global Med common stock and the default conversion feature of the loans was
increased from $0.05 per share to $0.25 per share.

In March 1999, eBanker
extended a $750 thousand bridge loan to Global Med due in December 1999. The
outstanding bridge loan balance was convertible into common shares of Global Med
at the rate of $1.13 per share. The bridge loan bears interest at 12% and
eBanker was paid a 2% commitment fee in the form of 13,275 shares of Global
Meds common stock.

In April 1999, Online
Credit entered into a bridge loan commitment with Global Med for $2 million due
in April 2000. The outstanding bridge loan balance was convertible into shares
of Global Med at the rate of $1.15 per share. The bridge loan bears interest at
12% and Online Credit was paid a 5% commitment fee in the form of 86,957 shares
of Global Meds common stock.

In October 1999, Online
Credit, as agreed to by Global Med, assigned to eBanker its $2 million bridge
loan commitment to Global Med and transferred to eBanker the 86,957 shares of
Global Med common stock issued in consideration for the loan commitment to
eBanker. Also in October 1999, eVision and eBanker entered into a lock up
agreement whereby Global Med issued 50 thousand and 450 thousand shares of its
common stock to eVision and eBanker, respectively, in consideration for eVision
and eBanker agreeing to restrict sales of their holdings of Global Med common
stock and warrants for a period of one year.

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY

# NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

In December 1999, the $750
thousand bridge loan was extended to September 2000. In consideration for the
extension, eBanker received a 2% fee in the form of 13,275 shares of Global Med
common stock and the conversion rate was reduced from $1.15 per share to $0.50
per share.

At December 31, 1999, $4.4
million was outstanding under eBankers financing agreements with Global
Med and $1 million remained available under the bridge loan commitment of
eBanker.

In April 2000, the $2.65
million loans and the $2 million bridge loan were extended to January 2001.
Under the terms of the extension, if the loans were not repaid by January 2001,
they would automatically extend to April 2001, the conversion features would be
eliminated and eBanker would be granted warrants to acquire Global Med common
stock at $0.50 per share. The number of warrants to be issued would be based on
the total principal and interest outstanding divided by the exercise price of
$0.50 per share. A conversion feature was added to the $2.65 million loan that
entitled eBanker to convert the loan into shares of Global Med common stock at a
rate of $1.68 per share. Additionally, the $750 thousand bridge loan was
extended to January 2001. In consideration for these extensions, eBanker was
paid a 2% fee in the form of 160 thousand shares of Global Med common stock.

In November 2000, eBanker
agreed to exercise warrants to purchase 8 million shares of common stock of
Global Med at $0.25 per share in exchange for canceling $2 million of its notes
receivable from Global Med. The remaining $3.4 million outstanding under the
various financing agreements and accrued interest of $428.7 thousand were
combined into one agreement and the due date was extended to July 1, 2001.
Global Med agreed to pay interest of 12% per annum on a semi-annual basis, with
the first interest payment due May 19, 2001. The 8 million shares of common
stock were issued on February 28, 2001 and are considered outstanding as of
November 19, 2000. In consideration for the extension of the remaining principal
and interest, eBanker received a fee of 5% payable in 197.6 thousand shares of
common stock of Global Med. If the principal and interest are not paid in full
by July 1, 2001, the due date of the principal will automatically be extended to
July 1, 2003. Additionally, Global Med will issue eBanker warrants to acquire up
to 10,168,430 shares of Global Med common stock with an exercise price of $0.50
per share. The actual number of warrants to be issued will be determined based
upon the amount of principal outstanding at July 1, 2001. Additionally, upon the
occurrence of certain events related to a certain contract Global Med is
negotiating, Global Med will have the right, in its discretion, to put its
shares of common stock worth up to $1.5 million to eBanker at $0.50 per share in
the form of exchanging debt for common stock. The outstanding loan balance is
convertible into the common stock of Global Med at eBankers option at a
rate of $1.00 per share. The default conversion rate under this extension is
$1.00 per share. As consideration for this provision, eBanker was issued 500
thousand restricted shares of Global Med common stock. As a result of these
transactions, eBanker obtained control of Global Med and Global Med will be
reflected in eVisions consolidated financial statements as a consolidated
subsidiary of eBanker effective November 19, 2000.

The loan with eBanker is
secured by all of Global Meds assets including its shares in PeopleMed and
the assets of PeopleMed and Global Med, including intellectual property. As part
of the November 19, 2000 Loan Agreement, the Personal Guarantee of Dr. Michael
I. Ruxin, as dated August 12, 1998, and assigned to eBanker, was reduced from
$1.5 million to $650 thousand plus pro rata accrued interest. The personal
guarantee is limited to certain of Dr. Ruxins assets. As part of the
November 19, 2000 Financing Agreement, Global Med agreed to register and
maintain registration for all present and future shares including underlying
warrants, belonging to eBanker.

If Global Med defaults on
the repayment of any amount borrowed under the combined note issued to eBanker,
all existing members of the board of directors of Global Med will be required to
resign and eBanker will have the right to appoint all new members.

At December 31, 2000,
principal of $3.829 million and accrued interest of $54 thousand were
outstanding under the financing agreements between eBanker and Global Med and
there were no remaining amounts available under the commitment agreement.

On March 22, 2001, Global
Med and eBanker entered into an interest payment option agreement that provides
that Global Med may have the option, with five days prior written notice, to
elect and pay to eBanker, before July 1, 2001, Global Meds entire interest
payment calculated for the life of loan agreement dated November 19, 2000, in
the form of 1,746,688 shares of Global Med common stock (calculated at $0.6875
per share, which was the prevailing market price on March 22, 2001). In the
event that Global Med pays down any principal on the loan prior to July 1, 2003,
eBanker will return a number of shares determined by calculating the pro-rata
interest avoided due to early repayment of principal divided by $0.6875 per
share. eBanker will make this calculation on July 1, 2001, July 1, 2002 and July
1, 2003.

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY

# NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

## NOTE 3. RISKS
AND UNCERTAINTIES

Global Med designs,
develops, markets and supports information management software products for
blood banks, hospitals, centralized transfusion centers and other healthcare
related facilities. Global Med currently has customers and recognizes revenues
from its proprietary products. However, the number of customers and levels of
revenue have not been sufficient for Global Med to attain profitable operations.
Global Med has incurred significant cumulative operating losses. Additionally,
Global Med currently has an accumulated shareholders deficit. The ultimate
success of Global Med is dependent upon a number of factors such as increasing
market acceptance of its products, the addition of significant new customers and
maintaining effective cost controls, none of which is assured.

## NOTE 4. INCOME
TAXES

The Company has net
operating loss carryforwards of approximately $21,200,000 which expire in the
years 2006 to 2015. Net operating loss carryforwards of $4,820,000 are subject
to limitation under Section 382 of the Internal Revenue Code due to the change
in ownership resulting from the February 1997 initial public offering.

Actual income tax benefit
differs  from the amount  calculated  using the  Federal  statutory  tax rate as
follows:

`2000          1999
                                                                   ----          ----

Expected tax benefit                                          $(1,663,000)    (2,702,000)
Effect of permanent differences                                   752,000      1,640,000
Change in valuation allowance for deferred tax assets           1,063,000      1,234,000
State tax benefit, net of federal benefit                         (89,000)      (139,000)
Other                                                             (63,000)       (33,000)
                                                              -----------    -----------

                                                              $      --             --
                                                              ===========    ===========`

The  components of the
deferred  tax assets and  liabilities  as of  December  31, 2000 and 1999 are as
follows:

`2000          1999
                                                                   ----          ----
Deferred tax assets:
  Net operating loss carryforward                             $ 8,380,000      7,732,000
  Allowance for uncollectible accounts and notes receivable        26,000        125,000
  Unearned revenue and accrued expenses                         1,344,000        977,000
                                                              -----------    -----------

     Gross deferred tax assets                                  9,750,000      8,834,000
     Valuation allowance                                       (9,285,000)    (8,211,000)
                                                              -----------    -----------

     Net deferred tax assets                                     465,000         623,000
                                                              -----------    -----------

Deferred tax liabilities:
  Capitalized software development costs                         465,000         619,000
  Accelerated depreciation for tax purposes                          --            4,000
                                                              -----------    -----------

     Gross deferred tax liabilities                              465,000         623,000
                                                              -----------    -----------

                      Deferred tax assets, net                $      --             --
                                                              ===========    ===========`

In assessing the
realizability of deferred tax assets, management concluded that it is not more
likely than not that the deferred tax assets would be realized. The ultimate
realization of the deferred tax assets is dependent on the generation of future
taxable income in the period in which the temporary differences become
deductible. The Company has established a valuation allowance for deferred taxes
due to the uncertainty that the deferred tax assets will be utilized.

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY

# NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

## NOTE 5. LEASES

The Company leases
equipment and office space. Rental expense under operating leases was
approximately $203,000 and $119,000, net of sublease income of $52,000 and
$94,000, for the years ended December 31, 2000 and 1999, respectively. Certain
leases of equipment and fixtures are classified as capital leases. A principal
stockholder of the Company has personally guaranteed repayment of certain
capital lease obligations.

Included in equipment,
furniture and fixtures in the accompanying balance sheets are the following
assets held under capital leases:

`December 31,
                                                        2000         1999
                                                        ----         ----
Furniture and fixtures                            $   127,000       127,000
Machinery and equipment                               167,000       167,000
Computer hardware and software                        734,000       803,000
                                                  -----------   -----------
Assets under capital leases                         1,028,000     1,097,000
Less accumulated depreciation and amortization       (868,000)     (897,000)
                                                  -----------   -----------

Assets under capital lease, net                   $   160,000       200,000
                                                  ===========   ===========`

The following represents
the minimum lease payments remaining under capital leases and the future minimum
lease payments for all noncancelable operating leases at December 31, 2000:

`Capital       Operating
                                                     Leases          Leases
                                                     -------       ---------

         2001                                     $   160,000      $  184,000
         2002                                          59,000         164,000
         2003                                           8,000         163,000
         2004                                           1,000         166,000
         2005 and thereafter                            --            234,000
                                                  -----------      ----------

Total minimum lease payments                          228,000      $  911,000
                                                                    =========
  Less amount representing interest                   (26,000)
                                                  -----------
Present value of minimum lease payments               202,000
  Less current portion of obligations under
  capital lease                                      (137,000)
                                                  -----------

Obligations under capital lease, less
  current portion                                 $    65,000
                                                  ===========`

During 1999, the Company
relocated its Rancho Cordova, California office to another location in El Dorado
Hills, California with a lower lease payment. The Company terminated its
previous lease. Also during 1999, the Company relocated its Lakewood, Colorado
office to a smaller, less expensive location. The previous location has
been sublet for an amount that approximates the lease obligation. These
transactions are reflected in the minimum lease payments for operating leases
above.

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY

# NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

## NOTE 6.
STOCKHOLDERS EQUITY

Stock Compensation Plan

The Company has a stock
compensation plan covering issuances of up to 200,000 shares of common stock to
employees, consultants and other service providers to the Company. In 2000, the
Company issued 30,000 shares of common stock to a third party for services under
this plan and authorized the issuance of 35,000 shares to a director of the
Company. Of the 35,000 authorized shares, none had been issued as of December
31, 2000. These shares will be issued at a rate of 7,000 per year as they are
earned. The market value of the shares that had been issued or authorized was
$65,000, based on quoted market prices. During the years ended December 31, 2000
and 1999, $28,000 and $62,500, respectively, was recognized in the
Companys statements of operations as the services were performed. At
December 31, 2000, no shares remain available for grant under this plan.

Sales of Common Stock

During 2000, eVision
purchased 1,000,000 shares of common stock of the Company for $500,000. A
director purchased 200,000 shares of common stock for $100,000 and 170,000
shares were sold to a shareholder for $85,000. In connection with the sales to
eVision and the director, the Company recognized financing costs of $940,000 and
$189,000 of compensation expense, respectively.

Consultancy Agreement

The Company entered into a
consultancy agreement, effective as of February 24, 2000, for a period of
twenty-four (24) months, with National Financial Communications Corporation, dba
OTC Financial Network (OTC Financial). OTC Financial provided consulting
services, with the expressed intent and goal of getting the Company, or its
successor or assigns, listed on the Nasdaq Stock Market which include providing
financial community and investor relations for the Company; and advising the
Company, as requested, regarding the financial community and investor relations.

Upon execution of this
agreement, the Company agreed to issue to OTC Financial, or its assigns, 250,000
shares of restricted common stock, 125,000 of which are to be included in a
registration statement intended to be filed during 2001.

On the effective date of
the agreement, the 250,000 shares of common stock had a fair value of $375,000
based on quoted market prices of the Companys common stock. The amount has
been recorded as a prepaid expense and is being amortized over the term of the
agreement.

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY

# NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

PEOPLEMED

In February 2000, certain
officers and directors of Global Med acquired 1,275,000 shares of PeopleMed
common stock for $12,750 as founders shares in PeopleMed.

In March and October of
2000, PeopleMed sold 50,000 and 160,000 shares, respectively, of its $.001 par
value common stock at $1.00 per share for a total of $210,000. The cash net
payments received less offering costs are reflected as contributed capital in
the accompanying financial statements. In addition, 5,000 shares of PeopleMed
common stock were granted to an officer for services valued at $5,000.

## NOTE 7. STOCK
OPTION PLANS AND WARRANTS

The Companys Amended
and Restated Stock Option Plan (the Plan) provides for the issuance of options
to purchase up to 2,200,000 shares of common stock to employees, officers,
directors and consultants of the Company. Options may be granted as incentive or
nonqualified stock options. Only employees of the Company are eligible to
receive incentive options. The Plan expired on May 31, 2000. Options granted
under the Plan vest on a straight-line basis based on schedules as determined by
the Board of Directors upon grant and generally expire 10 years after grant.

The Company granted two
outside consultants non-qualified options to purchase 35,000 shares of the
Companys common stock. The fair value of these options grants was $64,000
and is being charged to the statement of operations as these options are earned.

During 2000, the Company
also issued 255,000 non-qualified stock options to certain employees. The
Company intends to register 80,000 of these options under a new stock option
plan during 2001. The authorized registration of these shares is currently
pending shareholder approval.

In 1999, two consultants
were granted nonqualified options to each purchase 20,000 shares of the
Companys common stock at $0.66 per share. The fair value of these grants
was $26,300 and is being charged to the statement of operations over their
respective vesting periods of two and five years.

In 1999, the Board of
Directors approved a grant of nonqualified options, to purchase 1,500,000 shares
of the Companys common stock to two officers of the Company, which options
shall be exercisable only at the earlier of (i) such time as the earnings of the
Company are at least $.01 per share, reported in the Companys audited
financial statements; (ii) such time as the Company is sold or merged, or there
is a change in control of the Company; or (iii) 5 years from the effective date,
and are exercisable at $0.5625 per share for a period of ten years.

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY

# NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

The following table
presents the activity for options outstanding as of December 31:

`2000                     1999
                                    Options         Price*    Options        Price*
                                    -------         -----     -------        ------
Outstanding,
 beginning of year                7,015,216      $   0.90   4,391,216      $   0.98
Granted                             290,000          1.34   3,020,500          0.62
Forfeited/canceled                 (924,245)         0.81    (396,500)         0.94
Exercised                           (44,000)         0.92        --             --
                                 ----------                 ---------
Outstanding, end
 of year                          6,336,971          0.85   7,015,216          0.90
                                 ----------                 ---------`

* Price reflects the
weighted average exercise price.

The following table
presents the composition of options outstanding and exercisable as of December
31, 2000:

`Options Outstanding            Exercisable Options
                             -------------------            -------------------
Range of exercise prices     Amount      Price*    Life*    Amount        Price*
------------------------     ------      -----     ----     ------        -----

 $ 0.56     -     1.00      5,343,998   $ 0.68      8.5    1,900,198     $ 0.73
   1.03     -     1.50        307,500     1.17      8.9      187,500       1.10
   1.53     -     2.00        458,973     1.72      7.4      330,773       1.75
   2.45     -     3.00        213,000     2.51      6.7      209,000       2.50
   3.75     -                  13,500     3.75      6.0       10,800       3.75
                            ---------                      ---------
Total December 31, 2000     6,336,971     0.85      8.4    2,638,271       1.04
                            ---------                      ---------`

*Price and life reflect the
weighted average exercise price and weighted average remaining contractual life,
respectively.

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY

# NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

Pro forma disclosures

The fair value of options
granted during 2000 and 1999 were determined using the following weighted
average assumptions:

| | A
risk-free rate of approximately 5.65% and 6.14%; an average expected lives of 5
years; a dividend yield of 0%; and volatility of 284% and 244% for the years
ended December 31, 2000 and 1999, respectively.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

For the purposes of pro
forma disclosures, the estimated fair value of the employee options is amortized
to expense over the options vesting period. Pro forma information is as
follows:

`2000          1999
                                                     ----          ----

          Pro forma net loss                    $ (5,558,000) $ (8,865,000)
          Pro forma net loss per share                 (0.40)        (0.84)`

The estimated fair value of
the total options granted during the years ended December 31, 2000 and 1999 was
$387,000 and $1,787,000, respectively. The estimated fair value compensation
expense associated with the options granted during 2000 and 1999 and their
respective portions vesting were $37,000 and $183,000, respectively, for the
years ended December 31, 2000 and 1999.

Warrants

The  following  summarizes
the  outstanding  warrants to purchase  shares of common stock of Global Med for
the years ended December 31, 2000 and 1999:

`Weighted
                                                      Number of      Average
                                                       Warrants   Exercise Price
                                                      ---------   --------------

          Balance at December 31, 1998               14,645,888    $   0.91
          Issued                                      2,045,588        3.61
          Exercised                                  (2,000,000)       0.25
          Canceled                                   (2,045,588)       3.60
                                                    -----------       -----

          Balance at December, 31, 1999              12,645,888        1.01
          Issued                                           --           --
          Exercised                                  (8,000,000)       0.25
          Canceled                                         --           --
                                                    -----------       -----

                     Balance at December 31, 2000     4,645,888    $   1.80
                                                    ===========       =====`

All of the outstanding
warrants are exercisable and expire in the years 2002 to 2008.

---

# GLOBAL MED
TECHNOLOGIES, INC. AND SUBSIDIARY

# NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

On December 22, 1999, the
Board of Directors extended the exercise time of its previously issued 1,456,988
Class A Warrants from February 11, 2002 to February 11, 2003. The Company has
also reduced the exercise price of these warrants from $4.55 to $3.00 per share.
This resulted in expense to the Company of $899,800. AFFC, the original
underwriter, was issued warrants to acquire 46,100 units exercisable at $11.55
per unit until January 14, 2002. Each unit consists of two shares of common
stock and a warrant to purchase one share of common stock at $7.51 per share.
The Company extended the underwriters warrants until February 11, 2003,
but did not reduce the exercise price of the underwriters warrants. Using
the Black Scholes model for estimating fair value, the Company recognized
$78,000 of financing costs expense on this transaction.

On June 2, 1999, the Board
of Directors authorized the extension of the 10% Note Warrants. These warrants
to purchase 187,800 shares of common stock of Global Med at $3.75 per share were
originally granted on June 26, 1996 and were exercisable for a period of three
years, through June 26, 1999. The expiration date was extended to June 26, 2004
by the Board of Directors. All other terms remained the same. Using the Black
Scholes model for estimating fair value, the Company recognized $238,000 of
financing costs expense on this transaction.

## NOTE 8.
CONTRIBUTIONS TO RETIREMENT PLAN

The Company has a 401(k)
retirement plan which covers eligible employees, as defined, of the Company (the
401(k) Plan). Employees may defer up to fifteen percent of their annual
compensation up to the maximum amount as determined by the Internal Revenue
Service. Under the 401(k) Plan, the Company, at its discretion, may make
contributions to the plan. No Company contributions were made to the 401(k) Plan
in 2000 or 1999.

## NOTE 9.
COMMITMENTS AND CONTINGENCIES

The Company is charged a
royalty of 3% on applicable SAFETRACE® revenues. Royalty expenses were
approximately $8,000 and $21,000 for the years ended December 31, 2000 and 1999,
respectively, and are included in cost of revenues in the accompanying statement
of operations. Future royalties will be 3% of applicable revenues. The Company
is charged a commission by its marketing partners on applicable SAFETRACE TX
revenues. During the years ended December 31, 2000 and 1999, the Company
recognized commissions expense of $125,000 and $0, respectively, which are
included in sales and marketing expenses in the accompanying statement of
operations.

---

## SIGNATURES

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

GLOBAL MED TECHNOLOGIES, INC.
        
                
                
                
                
                
                
        A Colorado Corporation
Date:  April __, 2001    
 
            
            
            
            
            
        By:
/s/Michael I. Ruxin                
                
                
                
        
                
                
        
       Michael I. Ruxin, Chairman of the Board
                
                
                
                
        
                
                
        
       and Chief Executive Officer

Pursuant to the
requirements of the Securities Exchange Act of 1934, the following persons on
behalf of the Registrant and in the capacities and on the dates indicated have
signed this report below. 
Date:  April __, 2001    
 
            
            
            
            
            
        By:
/s/Michael I. Ruxin                
                
                
                
        
                
                
        
       Michael I. Ruxin, Chairman of the Board
                
                
                
                
        
                
                
        
       and Chief Executive Officer
Date:  April __, 2001   
            
            
            
            
                
        By:
/s/Thomas F. Marcinek                
                
                
                
        
                
                
        
       Thomas F. Marcinek, President and Chief
                
                
                
                
        
                
                
        
       Operating Officer
Date:  April __, 2001   
            
            
            
            
                
        By:
/s/Gerald F. Willman, Jr.                
                
                
                
        
                
                
        
       Gerald F. Willman, Jr., Director and Wyndgate
                
                
                
                
        
                
                
        
       Vice President - International Business Development
Date:  April __, 2001   
            
            
            
            
                
        By:
/s/Gary L. Cook                
                
                
                
        
                
                
        
       Gary L. Cook, Director, Acting Principal
                
                
                
                
        
                
                
        
       Financial Officer and Treasurer
Date:  April __, 2001   
            
            
            
            
                
        By:
/s/Fai H. Chan                
                
                
                
        
                
                
        
       Fai H. Chan, Director
Date:  April __, 2001   
            
            
            
            
                
        By:
/s/Robert H. Trapp                
                
                
                
        
                
                
        
       Robert H. Trapp, Director
Date:  April __, 2001   
            
            
            
            
                
        By:
/s/Kwok Jen Fong                
                
                
                
        
                
                
        
       Kwok Jen Fong, Director
Date:  April __, 2001   
            
            
            
            
                
        By:
/s/Jeffrey M. Busch                
                
                
                
        
                
                
        
       Jeffrey M. Busch, Director
Date:  April __, 2001   
            
            
            
            
                
        By:
/s/Gordon E. Segal                
                
                
                
        
                
                
        
       Gordon E. Segal, Director
Date:  April __, 2001   
            
            
            
            
                
        By:
/s/Tony T.W. Chan                
                
                
                
        
                
                
        
       Tony T.W. Chan, Director

---

# SECURITIES
AND EXCHANGE COMMISSION

# Washington,
D.C. 20549

# EXHIBITS

# TO

# FORM 10-KSB

# GLOBAL MED
TECHNOLOGIES, INC.

# and
SUBSIDIARY

---

# EXHIBIT INDEX

Exhibit
    Number       
              
DESCRIPTION

|3.1 | Amended and Restated Articles of Incorporation, filed June 2, 1995 (1)
|--- | ----------------------------------------------------------------------

|3.2 | Articles of Amendment to the Articles of Incorporation, filed March 5, 1996 (1)
|--- | -------------------------------------------------------------------------------

|3.3 | Articles of Amendment to the Articles of Incorporation, filed May 30, 1996 (1)
|--- | ------------------------------------------------------------------------------

|3.4 | Bylaws, as amended (1)
|--- | ----------------------

|4.1 | Form of Representative's Warrants to Purchase Units (1)
|--- | -------------------------------------------------------

|4.2 | Form of Class A common stock Purchase Warrant Certificate (1)
|--- | -------------------------------------------------------------

|4.3 | Specimen copy of stock certificate for common stock, $.01 par value (1)
|--- | -----------------------------------------------------------------------

|10.1 | Lease Agreement, dated April 15, 1992, and Lease Addendums, dated April 8, 1992
and October 21, 1994 (1)
|---- | --------------------------------------------------------------------------------------------------------

|10.2 | Lease Agreement, dated July 19, 1995, and Lease Addendum (1)
|---- | ------------------------------------------------------------

|10.3 | Employment Agreement, dated May 24, 1995, between the Company and Michael I.
Ruxin, as amended July 8, 1995, August 1, 1995, September 21, 1995 and July 15,
1996 (1)
|---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------

|10.4 | Employment Agreement, dated May 24, 1995, between the Company and William J.
Collard, as amended July 22, 1996 (1)
|---- | ------------------------------------------------------------------------------------------------------------------

|10.5 | Employment Agreement, dated June 28, 1995, between the Company and Joseph F.
Dudziak (1)
|---- | ----------------------------------------------------------------------------------------

|10.6 | Employment Agreement, dated February 8, 1996, between the Company and L.E.
"Gene" Mundt (1)
|---- | -------------------------------------------------------------------------------------------

|10.7 | Amended and Restated Stock Option Plan, as amended on May 5, 1995, May 29, 1996
and December 11, 1996 (1)
|---- | ---------------------------------------------------------------------------------------------------------

|10.7 | (A)
Amendment dated March 31, 1997, to the Amended and Restated Stock Option Plan.
(2)
|---- | --------------------------------------------------------------------------------------

|10.8 | Voting Agreement, dated May 23, 1995 (1)
|---- | ----------------------------------------

|10.9 | Shareholders Agreement dated August 16, 1991, as amended on May 5, 1995
September 1996, June 24, 1996, July 25, 1996, Consent and Waiver, dated July 12,
1996, and Rescission of Shareholders Agreement, dated June 22, 1996 (1)
|---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|10.10 | Agreement dated April 8, 1996, between the Company and LMU & Company, and
Stock Purchase Option, dated April 8, 1996 (1)
|----- | ------------------------------------------------------------------------------------------------------------------------

|10.11 | Form of Drug Testing Service Contract (1)
|----- | -----------------------------------------

|10.12 | Form of License Agreements (1)
|----- | ------------------------------

---

|10.13 | Warrant Agreement, dated February 11, 1997, between Global Med and American
Securities Transfer & Trust, Inc. (1)
|----- | -----------------------------------------------------------------------------------------------------------------

|10.14 | Exclusivity and Software Development Agreement, dated November 14, 1996, between
and among Global Med and Ortho Diagnostic Systems Inc. (1)
|----- | -------------------------------------------------------------------------------------------------------------------------------------------

|10.15 | Amendment, dated November 14, 1996, to Agreement dated April 8, 1996, between
the Company and LMU & Company, and Stock Purchase Option, dated April 8,
1996 (1)
|----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------

|10.16 | Amendment, dated January 14, 1997, to Agreement dated April 8, 1996, between the
Company and LMU & Company, and Stock Purchase Option, dated April 8, 1996
(1)
|----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------

|10.17 | Interim Management Agreement, dated July 7, 1997, between the Company and
National Medical Review Offices, Inc. (1)
|----- | -------------------------------------------------------------------------------------------------------------------

|10.18 | Asset Purchase Agreement, dated August 18, 1997, between the Company and
National Medical Review Offices, Inc. (1)
|----- | ------------------------------------------------------------------------------------------------------------------

|10.19 | Third Amendment to Exclusivity and Software Development Agreement, dated
September 17, 1997 between Global Med and Ortho Diagnostic Systems, Inc.
(1)
|----- | -----------------------------------------------------------------------------------------------------------------------------------------------------

|10.20 | Second Amended and Restated Stock Option Plan, as amended October 3, 1997 and
December 2, 1997 (3)
|----- | --------------------------------------------------------------------------------------------------

|10.21 | Fourth Amendment to Exclusivity and Software Development Agreement, dated
December 22, 1997 between Global Med and Ortho Diagnostic Systems, Inc.
(4)
|----- | -----------------------------------------------------------------------------------------------------------------------------------------------------

|10.22 | Development Agreement, dated July 12, 1996 between Global Med and The Institute
for Transfusion Medicine, dated July 12, 1996, as amended January 12, 1998 (4)
|----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------

|10.23 | Loan Commitment, dated April 14, 1998, between Heng Fung Finance Company Limited
and the Company, as amended on April 16, 1998 (4)
|----- | ----------------------------------------------------------------------------------------------------------------------------------

|10.24 | Loan Commitment, dated April 14, 1998, between Fronteer Capital, Inc. and the
Company, as amended on April 16, 1998 (4)
|----- | -----------------------------------------------------------------------------------------------------------------------

|10.25 | Amendment to Loan Commitment, dated April 16, 1998, between Heng Fung Finance
Company Limited and the Company (4)
|----- | -----------------------------------------------------------------------------------------------------------------

|10.26 | Amendment to Loan Commitment, dated April 16, 1998, between Fronteer Capital,
Inc. and the Company (4)
|----- | ------------------------------------------------------------------------------------------------------

|10.27 | Second Amendment to Loan Commitments, dated April 20, 1998 between the Company,
Heng Fung Finance Company Limited and Fronteer Capital, Inc. (4)
|----- | ------------------------------------------------------------------------------------------------------------------------------------------------

|10.28 | Employment Agreement, dated August 1, 1998, between the Company and Michael I.
Ruxin (5)
|----- | ----------------------------------------------------------------------------------------

|10.29 | Employment Agreement, dated August 1, 1998, between the Company and Alan K.
Geddes (5)
|----- | --------------------------------------------------------------------------------------

---

|10.30 | Employment Agreement, dated August 1, 1998, between the Company and Thomas F.
Marcinek (5)
|----- | ------------------------------------------------------------------------------------------

|10.31 | Consultancy Agreement, dated August 1, 1998, between the Company and Jeffrey M.
Busch, Esq. (5)
|----- | -----------------------------------------------------------------------------------------------

|10.32 | Warrant to Purchase Common Shares dated April 20, 1998, issued by the Company to
Heng Fung Finance Company Limited (5)
|----- | ----------------------------------------------------------------------------------------------------------------------

|10.33 | Warrant to Purchase Common Shares dated April 20, 1998, issued by the Company to
Fronteer Capital, Inc.(5)
|----- | ----------------------------------------------------------------------------------------------------------

|10.34 | Loan Agreement, dated August 12, 1998, between the Company and Heng Fung Finance
Company Limited (5)
|----- | ----------------------------------------------------------------------------------------------------

|10.35 | Loan Agreement, dated August 12, 1998, between the Company and Fronteer Capital,
Inc. (5)
|----- | -----------------------------------------------------------------------------------------

|10.36 | Personal Guaranty, dated August 12, 1998, by Michael I. Ruxin, M.D. as
Guarantor, the Company as Debtor and Fronteer Capital, Inc. as Beneficiary
(5)
|----- | -----------------------------------------------------------------------------------------------------------------------------------------------------

|10.37 | Assignment, Assumption and Consent Agreement, dated September 28, 1998, by the
Company, Michael I. Ruxin, M.D., Fronteer Capital Inc. and Fronteer Development
Finance, Inc. (5)
|----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|10.38 | Loan and Warrant Purchase and Sale Agreement, dated October 7, 1998, between the
Company, Heng Fung Finance Company Limited and Fronteer Development Finance
(5)
|----- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------

|10.39 | Promissory Note, dated October 30, 1998, by the Company as Maker and Fronteer
Development Finance as the Holder (5)
|----- | -------------------------------------------------------------------------------------------------------------------

|10.40 | Warrant to Purchase Common Shares, dated October 30, 1998, issued by the Company
to Fronteer Development Finance Inc. (5)
|----- | -------------------------------------------------------------------------------------------------------------------------

|10.41 | Promissory Note, dated October 26, 1998, by the Company as Maker and Fronteer
Development Finance, Inc. as the Holder (5)
|----- | -------------------------------------------------------------------------------------------------------------------------

|10.42 | Promissory Note, dated October 26, 1998, by the Company as the Maker and Heng
Fung Finance Company Limited as the Holder (5)
|----- | ----------------------------------------------------------------------------------------------------------------------------

|10.43 | Warrant to Purchase Common Shares, dated October 26, 1998, issued by the Company
to Fronteer Development Finance, Inc. (5)
|----- | --------------------------------------------------------------------------------------------------------------------------

|10.44 | Warrant to Purchase Common Shares, dated October 26, 1998, issued by the Company
to Heng Fung Finance Company Limited (5)
|----- | -------------------------------------------------------------------------------------------------------------------------

|10.45 | Employment Agreement, dated February 1, 1999, between the Company and James
Flynt (6)
|----- | -------------------------------------------------------------------------------------

|10.46 | Bridge Loan Agreement, dated March 18, 1999, between the Company and eBanker
USA.Com, Inc. (6)
|----- | ----------------------------------------------------------------------------------------------

|10.47 | First Amendment to Loan Agreement among the Company, Michael I. Ruxin, M.D.,
eBanker USA.Com, Inc. and Heng Fung Finance Company Limited, dated March 18,
1999 (6)
|----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------

---

|10.48 | Office Lease between the Company and Golden Hill Partnership, dated January 11,
1999 (6)
|----- | ----------------------------------------------------------------------------------------

|10.49 | Standard Industrial/Commercial Multi-Tenant Lease between the Company and James
W. Cameron, Jr., dated February 8, 1999 (6)
|----- | ---------------------------------------------------------------------------------------------------------------------------

|10.50 | Settlement Agreement and Release of All Claims between the Company and William
J. Collard and Hollis Gailey, dated December 22, 1998 (6)
|----- | ----------------------------------------------------------------------------------------------------------------------------------------

|10.51 | Bridge Loan Agreement, dated April 13, 1999, between the Company and Heng Fung
Finance Company Limited (7)
|----- | ----------------------------------------------------------------------------------------------------------

|10.52 | Revised Bridge Loan Agreement, dated May 7, 1999, between the Company and
eBanker USA.com, Inc. (7)
|----- | ---------------------------------------------------------------------------------------------------

|10.53 | Loan Agreement dated April 12, 2000 between the Company and eBanker (8)
|----- | -----------------------------------------------------------------------

|10.54 | Loan Agreement dated April 14, 2000 between the Company and eBanker (8)
|----- | -----------------------------------------------------------------------

|10.55 | Loan extension dated April 14, 2000 between the Company and eBanker (8)
|----- | -----------------------------------------------------------------------

|10.56 | Loan Agreement dated November 19, 2000 between the Company and eBanker
|----- | ----------------------------------------------------------------------

|21 | Subsidiaries of the Company
|-- | ---------------------------

|23 | Consent of Independent Auditors - Deloitte & Touche LLP
|-- | -------------------------------------------------------

|99 | Proxy and Right of First Refusal Agreement, dated November 14, 1996, between and
among Ortho Diagnostic Systems Inc. and Michael I. Ruxin, William J. Collard,
Gerald F. Willman, Jr., Lori J. Willman, Timothy Pellegrini and Gordon Segal (1)
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

_______________________

|(1) | The documents identified are incorporated by reference from the Company's
Registration Statement on Form SB-2 (No. 333-11723).
|--- | ------------------------------------------------------------------------------------------------------------------------------

|(2) | Incorporated by reference from the Company's Registration Statement on Form S-8
(No. 333-28155).
|--- | ------------------------------------------------------------------------------------------------

|(3) | Incorporated by reference from the Company's Registration Statement on Form S-8
(No. 333-45031).
|--- | ------------------------------------------------------------------------------------------------

|(4) | Incorporated by reference from the Companys Annual Report on Form 10-KSB
for the year ended December 31, 1997.
|--- | ---------------------------------------------------------------------------------------------------------------

|(5) | Incorporated by reference from the Company's Registration Statement on Form SB-2
(No. 333-52761).
|--- | -------------------------------------------------------------------------------------------------

|(6) | Incorporated by reference from the Companys Annual Report on Form 10-KSB
for the year ended December 31, 1998.
|--- | ---------------------------------------------------------------------------------------------------------------

|(7) | Incorporated by reference from the Companys Form 10-QSB for the quarterly
period ended March 31, 1999.
|--- | -------------------------------------------------------------------------------------------------------

|(8) | Incorporated by reference from the Companys Form 10-QSB for the quarterly
period ended March 31, 2000.
|--- | -------------------------------------------------------------------------------------------------------

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