U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-KSB

                 ANNUAL REPORT UNDER SECTION 13 OR 15 (d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                   For the fiscal year ended December 31, 2002
                         Commission file number 0-29247

                           GLOBAL TELEDATA CORPORATION
                 (Name of Small Business Issuer in its Charter)

          Nevada                                               65-0693103
          ------                                               ----------
(State or Other Jurisdiction of                              (I.R.S. Employer
Incorporation or Organization)                               Identification No.)

5030 Champion Boulevard, Suite 6-272, Boca Raton, Florida               33496
---------------------------------------------------------               -----
(Address of Principal Executive Offices)                              (Zip Code)

                                 (954) 801-7167
                                 --------------
                           (Issuer's Telephone Number)

              Securities registered under Section 12(b) of the Act:
                                      None
                                      ----

         Securities registered under Section 12(g) of the Exchange Act:
                          Common Stock, $.001 par value
                          -----------------------------
                                (Title of Class)

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

Check if there is no disclosure of delinquent filers in response to Item 405 of
Regulation S-B contained in this form, and no disclosure will be contained, to
the best of the registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB. [X]

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

State the aggregate market value of the voting stock held by non-affiliates
computed by reference to the price at which the stock was sold, or the average
bid and asked prices of such stock, as of a specified date within the past 60
days: No trading market exists and no trading has been effected.

                   (APPLICABLE ONLY TO CORPORATE REGISTRANTS)

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: January 30, 2003: 9,975,354 shares of
Common Stock.

                       DOCUMENTS INCORPORATED BY REFERENCE
                                      None

    Transitional Small Business Disclosure Format (Check One): [ ] Yes  [X] No

<PAGE>

                                    BUSINESS

ITEM 1. DESCRIPTION OF BUSINESS

         Global Teledata Corporation, referred to in this registration statement
as Global, we or us, was incorporated on May 15, 1995 as a Nevada Corporation
under the name Television Networking, Inc. Global was incorporated for the
purpose of entering the video production business. It ceased operations in 1996
and, since that time, has been inactive. In November 1998, in connection with a
merger with another entity that was later rescinded by both parties, Global
amended its articles of incorporation to change its name to Global Teledata
Corporation. We are authorized to issue 25,000,000 shares of common stock,
$0.001 par value, of which 9,975,354 shares were issued and outstanding as of
January 30, 2003.

         We are authorized to issue 10,000,000 shares of preferred stock, $0.001
par value, none of which are issued and outstanding. Each holder of the common
stock shall be entitled to one vote for each share held. The preferred stock may
be divided into series or classes by us upon the approval of a majority vote of
our directors.

         We have been in the development stage since our merger with Outlaw
Entertainment and have no operations to date. Other than issuing shares to
shareholders, we have not commenced any operational activities. As such, we can
be defined as a "shell" company, whose sole purpose at this time is to locate
and consummate a merger or acquisition with a private entity. Our directors have
elected to commence implementation of our principal business purpose. Our
offices are located at 5030 Champion Boulevard, Suite 6-272, Boca Raton, Florida
33496.

         The proposed business activities described in this report classify us
as a blank check company. Many states have enacted statutes, rules and
regulations limiting the sale of securities of blank check companies in their
respective jurisdictions. We do not intend to undertake any offering of our
securities, either debt or equity, until such time as we have successfully
implemented our business plan.

         In February 2003, Triton Enterprises, Inc., purchased 6,500,000 of our
shares of common stock from Marine Way, Inc. in a private transaction. In
connection with the transaction Dennis Crowley, the principal of Triton
Enterprises, was elected as our President and a Director, and Alan Pavsner and
Mary Fancis Pavsner resigned all positions with the Company. Triton Enterprises
has expressed its intention not to sell its shares of common stock until such
time as we have successfully consummated a merger or acquisition and are no
longer classified as a blank check company. In addition, Triton Enterprises has
also expressed its intention not to sell its shares unless the shares are
subsequently registered or if an exemption from registration is available.

COMPETITION

         We will remain an insignificant participant among the marketplace of
firms that engage in the acquisition of business opportunities. There are many
established venture capital and financial concerns which have significantly
greater financial and personnel resources and


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technical expertise than us. In view of our limited financial resources and
limited management availability, we will continue to be at a significant
competitive disadvantage to our competitors.

EMPLOYEES

         We have no full time or part time employees. Mr. Crowley, our
President, has agreed to allocate a portion of his time to our business
activities, without compensation. We anticipate that the amount of time devoted
by Mr. Crowley to implement our business plan will be immaterial, and therefore
we have not recorded any expense relating to such service for financial
statement purposes. Consequently, conflicts of interest may arise with respect
to the limited time commitment by him.

         Mr. Crowley has been involved with other public companies, and may, in
the future, become involved with other companies who have a business purpose
similar to ours, although no such activity is currently anticipated. As a
result, additional potential conflicts of interest may arise in the future. If
this type of conflict does arise and an officer or director is presented with
business opportunities under circumstances where there may be a doubt as to
whether the opportunity should belong to us or to another company he is
affiliated with, he will disclose the opportunity to all such companies. If a
situation arises in which more than one company desires to merge with or acquire
that target company has no preference as to which company will merger or acquire
such target company, the company which first filed a registration statement with
the Securities and Exchange Commission will be entitled to proceed with the
proposed transaction.

                                  RISK FACTORS

NO OPERATING HISTORY, REVENUE AND ASSETS.

         We have no operating history or any revenues or earnings from
operations. We have little or no tangible assets or financial resources. We
will, in all likelihood, continue to sustain operating expenses without
corresponding revenues, at least until the consummation of a business
combination. This may result in our incurring a net operating loss which will
increase continually until we consummate a business combination with a
profitable business opportunity. There is no assurance that we can identify such
a business opportunity and consummate such a business combination.

SPECULATIVE NATURE OF COMPANY'S PROPOSED OPERATIONS.

         The success of our proposed plan of operation will depend to a great
extent on the operations, financial condition and management of the identified
business opportunity. While we intend to seek business combination(s) with
entities having established operating histories, there can be no assurance that
we will be successful in locating candidates meeting these criteria. In the
event that we complete a business combination, our success may be dependent upon
management of the successor firm or venture partner firm and numerous other
factors beyond our control.

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STATE BLUE SKY REGISTRATION; RESTRICTED RESALES OF THE SECURITIES.

         Transferability of our shares of common stock is limited because a
significant number of states have enacted securities or so-called "blue sky"
laws and regulations restricting or, in many instances, prohibiting, the initial
sale and subsequent resale within that state of securities of "blank check"
companies such as us. In addition, many states, while not specifically
prohibiting or restricting "blank check" companies, would not register our
securities for sale or resale in their states. Because of these regulations, we
have no current plan to register any securities with any state. To ensure that
any state laws are not violated through the resales of our securities, we will
refuse to register the transfer of any securities to residents of any state,
which prohibit such resale or if no exemption is available for such resale. It
is not anticipated that a secondary trading market for our securities will
develop in any state until consummation of a business combination.

SCARCITY OF AND COMPETITION FOR BUSINESS OPPORTUNITIES AND COMBINATIONS.

         We are and will continue to be an insignificant participant in the
business of seeking mergers with, joint ventures with and acquisitions of small
private and public entities. A large number of established and well-financed
entities, including venture capital firms, are active in mergers and
acquisitions of companies which may be desirable target candidates for us.
Nearly all of these entities have significantly greater financial resources,
technical expertise and managerial capabilities than we, and, consequently, we
will be at a competitive disadvantage in identifying possible business
opportunities and successfully completing a business combination. In addition,
we will also compete in seeking merger or acquisition candidates with numerous
other small public companies.

NO AGREEMENT FOR BUSINESS COMBINATION OR OTHER TRANSACTION - NO STANDARDS FOR
BUSINESS COMBINATION.

         We have no arrangement, agreement or understanding with respect to
engaging in a merger with, joint venture with or acquisition of, a private or
public entity. There can be no assurance that we will be successful in
identifying and evaluating suitable business opportunities or in concluding a
business combination. We have not identified any particular industry or specific
business within an industry for evaluation by us. There is no assurance we will
be able to negotiate a business combination on favorable terms. We have not
established a specific length of operating history or a specified level of
earnings, assets, net worth or other criteria which we will require a target
business opportunity to have achieved, and without which we would not consider a
business combination in any form with such business opportunity. Accordingly, we
may enter into a business combination with a business opportunity having no
significant operating history, losses, limited or no potential for earnings,
limited assets, negative net worth or other negative characteristics.

CONTINUED MANAGEMENT CONTROL, LIMITED TIME AVAILABILITY.

         While seeking a business combination, Mr. Crowley, our President, has
agreed to allocate a portion of his time to our business activities, without
compensation. We anticipate that the


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<PAGE>

amount of time devoted by Mr. Crowley will be immaterial, and therefore we have
not recorded any expense relating to such service for financial statement
purposes. Mr. Crowley will be the only person responsible in conducting the day
to day operations of the company including searches, evaluations, and
negotiations with potential merger or acquisition candidates. We have not
entered into any written employment agreement with Mr. Crowley and do not
anticipate doing so in the foreseeable future.

CONFLICTS OF INTEREST - GENERAL.

         Mr. Crowley may in the future participate in business ventures that
could be deemed to compete directly with us. Additional conflicts of interest
and non-arms length transactions may also arise in the future in the event that
our current and future officers or directors are involved in the management of
any firm with which we transact business.

LACK OF MARKET RESEARCH OR MARKETING ORGANIZATION.

         We have neither conducted, nor have others made available to us,
results of market research indicating that market demand exists for the
transactions contemplated by us. Moreover, we do not have, and do not plan to
establish, a marketing organization. Even in the event demand is identified for
a merger or acquisition contemplated by us, there is no assurance that we will
be successful in completing any such business combination.

LACK OF DIVERSIFICATION.

         Our proposed operations, even if successful, will in all likelihood
result in our engaging in a business combination with a business opportunity.
Consequently, our activities may be limited to those engaged in by entities with
which we merge or acquire. Our inability to diversify our activities into a
number of areas may subject us to economic fluctuations within a particular
business or industry and therefore increase the risks associated with our
operations.

REGULATION.

         Although we will be subject to regulation under the Securities Exchange
Act of 1934, we believe that we will not be subject to regulation under the
Investment Company Act of 1940, insofar as we will not be engaged in the
business of investing or trading in securities. In the event that we engage in
business combinations which result in our holding passive investment interests
in a number of entities, we could become subject to regulation under the
Investment Company Act of 1940. In this event, we would be required to register
as an investment company and could be expected to incur significant registration
and compliance costs. We have not obtained formal determination from the
Securities and Exchange Commission regarding our status under the Investment
Company Act of 1940 and, consequently, any violation of this Act could cause
material adverse consequences to our business.

PROBABLE CHANGE IN CONTROL AND MANAGEMENT.

         A business combination involving the issuance of our common stock will,
in all

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likelihood, result in shareholders of a private company obtaining a controlling
interest in us. Any similar business combination may require our management to
sell or transfer all or a portion of our common shares held by them, or resign
as members of the board of directors of the Company. The resulting change in
control could result in the removal of Mr. Crowley and a corresponding reduction
in or elimination of his participation in our future affairs.

POTENTIAL REDUCTION OF PERCENTAGE SHARE OWNERSHIP FOLLOWING BUSINESS
COMBINATION.

         Our primary plan of operation is based upon a business combination with
a private concern which, depending on the terms of merger or acquisition, may
result in our issuing securities to shareholders of a private company. The
issuance of previously authorized and unissued common stock would result in
reduction in percentage of shares owned by our present and prospective
shareholders and may result in a change in control or change in our management.

DISADVANTAGES OF BLANK CHECK OFFERING.

         We may enter into a business combination with an entity that desires to
establish a public trading market for its shares. A business opportunity may
attempt to avoid what it deems to be adverse consequences of undertaking its own
public offering by seeking a business combination with us. These consequences
may include, but are not limited to:

         *        time delays of the registration process;
         *        significant expenses to be incurred in such an offering;
         *        loss of voting control to public shareholders; and
         *        the inability or unwillingness to comply with various federal
                  and state laws enacted for the protection of investors.

TAXATION.

         Federal and state tax consequences will, in all likelihood, be major
considerations in any business combination we may undertake. Currently, these
transactions may be structured so as to result in tax-free treatment to both
companies, pursuant to various federal and state tax provisions. We intend to
structure any business combination so as to minimize the federal and state tax
consequences to both us and the target entity; however, we cannot assure you
that such business combination will meet the statutory requirements of a tax-
free reorganization or that the parties will obtain the intended tax-free
treatment upon a transfer of stock or assets. A non- qualifying reorganization
could result in the imposition of both federal and state taxes which may have an
adverse effect on both parties to the transaction.

REQUIREMENT OF AUDITED FINANCIAL STATEMENTS MAY DISQUALIFY BUSINESS
OPPORTUNITIES.

         Sections 13 and 15(d) of the Securities Exchange Act of 1934 require
companies to provide information about significant acquisitions, including
certified financial statements for the company acquired, covering one, two or
three years, depending on the relative size of the

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<PAGE>

acquisition. The time and additional costs that may be incurred by some target
entities to prepare such statements may preclude consummation of an otherwise
desirable acquisition. Acquisition prospects that do not have or are unable to
obtain the required audited financial statements may not be appropriate for
acquisition so long as the reporting requirements of the 1934 Act are
applicable.

ITEM 2.           DESCRIPTION OF PROPERTY

         We currently maintain our offices, rent free, at 5030 Champion
Boulevard, Suite 6-272, Boca Raton, Florida 33496, which is the business address
of Mr. Crowley, our President. We have determined our use of this office space
to be of immaterial value, an therefore we have not recorded any expense
relating to such office use for financial statement purposes. We do not believe
that we will need to maintain an office at any time in the foreseeable future in
order to carry out our plan of operations described herein.

ITEM 3.           LEGAL PROCEEDINGS.

         We are involved in no material legal proceedings that we believe will
result, individually or in the aggregate, in a material adverse effect upon our
financial condition or results of operations.

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

None.

                                     PART II

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

         On February 5, 2001, we obtained an unpriced quotation for our common
stock on the Over the Counter Bulletin Board (trading symbol GDAC). It is our
belief that maintaining a listing on the Over the Counter Bulletin Board will
assist us in facilitating our business plan. Currently, no trading market exists
for our common stock and no trades have been effected. As of January 30, 2003,
there were approximately 408 holders of record of our common stock. We have
never paid dividends on our Common Stock since our incorporation in 1995. We
intend to retain earnings for use in our business and therefore do not
anticipate paying dividends in the foreseeable future.

ITEM 6.           PLAN OF OPERATION

         For the year ended December 31, 2002, Global had a net loss of $10,128
as compared to a net loss of $21,011 for the year ended December 31, 2001. The
cumulative net loss from inception through December 31, 2002 was $72,578. The
net losses for these periods represent expenses associated with the ongoing
administration of the Company and compliance with self- regulatory requirements
pending development of operations or completion of an appropriate


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<PAGE>

acquisition. At December 31, 2002, the Company carried no assets. Operations
have been sustained through the contributions of its principal shareholder as
needed. On February 5, 2001, NASD Regulation cleared the Company's Rule 211
application for the listing of its securities on the OTC Bulletin Board subject
to clearance of a subsequent quotation. Management believes that clearance for
inclusion on the OTC Bulletin Board represents a significant milestone and will
provide Global with greater opportunities to consummate an appropriate
acquisition.

         We intend to seek to acquire assets or shares of an entity actively
engaged in business which generates revenues, in exchange for our securities. We
have no particular acquisitions in mind and have not entered into any
negotiations regarding such an acquisition. None of our officers, directors,
employees or affiliates has engaged in any preliminary contact or discussions
with any representative of any other company regarding the possibility of an
acquisition or merger between us and any other company as of the date of this
registration statement.

         Our purpose is to seek, investigate and, if such investigation
warrants, acquire an interest in business opportunities presented to it by
persons or firms who or which desire to seek the perceived advantages of an
Exchange Act-registered corporation. We will not restrict our search to any
specific business, industry, or geographical location and we may participate in
a business venture of virtually any kind or nature. This discussion of the
proposed business is purposefully general and is not meant to be restrictive of
our virtually unlimited discretion to search for and enter into potential
business opportunities. Management anticipates that it may be able to
participate in only one potential business venture because we have nominal
assets and limited financial resources. This lack of diversification should be
considered a substantial risk to our shareholders because it will not permit us
to offset potential losses from one venture against gains from another.

         We may seek a business opportunity with entities which have recently
commenced operations, or which wish to utilize the public marketplace in order
to raise additional capital in order to expand into new products or markets, to
develop a new product or service, or for other corporate purposes. We may
acquire assets and establish wholly-owned subsidiaries in various businesses or
acquire existing businesses as subsidiaries.

         We may advertise and promote ourselves in newspaper, magazines and on
the Internet. We have not yet prepared any notices or advertisement.

         We anticipate that the selection of a business opportunity in which to
participate will be complex and extremely risky. Due to general economic
conditions, rapid technological advances being made in some industries and
shortages of available capital, management believes that there are numerous
firms seeking the perceived benefits of a publicly registered corporation. These
perceived benefits may include facilitating or improving the terms on which
additional equity financing may be sought, providing liquidity for incentive
stock options or similar benefits to key employees, providing liquidity (subject
to restrictions of applicable statutes), for all shareholders and other factors.
Potentially, available business opportunities may occur in many different
industries and at various stages of development, all of which will make the task
of comparative investigation and analysis of such business opportunities
extremely difficult and complex.


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<PAGE>

         We have, and will continue to have, no capital with which to provide
the owners of business opportunities with any significant cash or other assets.
However, we believe that will be able to offer owners of acquisition candidates
the opportunity to acquire a controlling ownership interest in a publicly
registered company without incurring the cost and time required to conduct an
initial public offering. The owners of the business opportunities will, however,
incur significant legal and accounting costs in connection with acquisition of a
business opportunity, including the costs of preparing Form 8-K's, 10-K's or
10-KSB's, agreements and related reports and documents. The Securities Exchange
Act of 1934 specifically requires that any merger or acquisition candidate
comply with all applicable reporting requirements, which include providing
audited financial statements to be included within the numerous filings relevant
to complying with the Exchange Act. Nevertheless, officers and directors have
not conducted market research and are not aware of statistical data which would
support the perceived benefits of a merger or acquisition transaction for the
owners of a business opportunity.

         The analysis of new business opportunities will be undertaken by, or
under the supervision of, Mr. Crowley, who may not be considered a professional
business analyst. Mr. Crowley will be the key person in the search, review and
negotiation with potential acquisition or merger candidates. We intend to
concentrate on identifying preliminary prospective business opportunities which
may be brought to our attention through present associations of our officers and
directors, or by our shareholders. In analyzing prospective business
opportunities, we will consider such matters as the available technical,
financial and managerial resources; working capital and other financial
requirements; history of operations, if any; prospects for the future; nature of
present and expected competition; the quality and experience of management
services which may be available and the depth of that management; the potential
for further research, development, or exploration; specific risk factors not now
foreseeable but which then may be anticipated to impact our proposed activities;
the potential for growth or expansion; the potential for profit; the perceived
public recognition of acceptance of products, services, or trades; name
identification; and other relevant factors. We will not acquire or merge with
any company for which audited financial statements cannot be obtained within a
reasonable period of time after closing of the proposed transaction.

         Mr. Crowley has experience in managing companies similar to us and will
rely upon his own efforts and, to a much lesser extent, the efforts of our
shareholders, in accomplishing our business purpose. We do not anticipate using
any outside consultants or advisors to effectuate our business purpose. However,
if we do retain such an outside consultant or advisor, any cash fee earned by
such party will need to be paid by the prospective merger/acquisition candidate,
as we have no cash assets with which to pay such obligation. There have been no
contracts or agreements with any outside consultants and none are anticipated in
the future.

         We will not restrict our search for any specific kind of firm, but may
acquire a venture which is in its preliminary or development stage, which is
already in operation, or in essentially any stage of its corporate life. It is
impossible to predict at this time the status of any business in which we may
become engaged, in that such business may need to seek additional capital, may
desire to have its shares publicly traded, or may seek other perceived
advantages which we may offer. However, we do not intend to obtain funds in one
or more private placements to finance the operation of any acquired business
opportunity until such time as we have successfully consummated such a merger or
acquisition.

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         We anticipate that we will incur nominal expenses in the implementation
of our business plan described herein. Because we have no capital with which to
pay these anticipated expenses, these expenses will be paid by either Mr.
Crowley with his personal funds or Triton Enterprises, our majority shareholder,
with its business funds, as interest-free loans. However, the only opportunity
to have these loans repaid will be from a prospective merger or acquisition
candidate. Repayment of any loans made on our behalf will not impede, or be made
conditional in any manner, to consummation of a proposed transaction.

ACQUISITION OF OPPORTUNITIES

         In implementing a structure for a particular business acquisition, we
may become a party to a merger, consolidation, reorganization, joint venture, or
licensing agreement with another corporation or entity. We may also acquire
stock or assets of an existing business. On the consummation of a transaction,
it is probable that our present management and shareholders will no longer be in
control of us. In addition, our directors may, as part of the terms of the
acquisition transaction, resign and be replaced by new directors without a vote
of our shareholders or may sell their stock. Any terms of sale of the shares
presently held by officers and/or directors will be also afforded to all other
shareholders on similar terms and conditions. Any and all such sales will only
be made in compliance with federal and applicable state securities laws.

         We anticipate that any securities issued in any such reorganization
would be issued in reliance upon exemption from registration under applicable
federal and state securities laws. In some circumstances, however, as a
negotiated element of a transaction, we may agree to register all or a part of
such securities immediately after the transaction is consummated or at specified
times thereafter. If such registration occurs, of which there can be no
assurance, it will be undertaken by the surviving entity after we have
successfully consummated a merger or acquisition and we are no longer considered
a "shell" company. Until such time as this occurs, we will not attempt to
register any additional securities. The issuance of substantial additional
securities and their potential sale into any trading market which may develop in
our securities may have a depressive effect on the value of our securities in
the future, if such a market develops, of which there is no assurance.

         While the actual terms of a transaction to which we may be a party
cannot be predicted, it may be expected that the parties to the business
transaction will find it desirable to avoid the creation of a taxable event and
thereby structure the acquisition in a so-called "tax-free" reorganization under
Sections 368(a)(1) or 351 of the Internal Revenue Code. In order to obtain
tax-free treatment, it may be necessary for the owners of the acquired business
to own 80% or more of the voting stock of the surviving entity. In such event,
our shareholders, would retain less than 20% of the issued and outstanding
shares of the surviving entity, which would result in significant dilution in
the equity of such shareholders.

         As part of our investigation, our officers and directors personally
meet with management and key personnel, may visit and inspect material
facilities, obtain analysis of verification of certain information provided,
check references of management and key personnel, and take other

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<PAGE>

reasonable investigative measures, to the extent of our limited financial
resources and management expertise. The manner in which we participate in an
opportunity will depend on the nature of the opportunity, our respective needs
and desires and other parties, our management of the opportunity and relative
negotiation strength.

         With respect to any merger or acquisition, negotiations with target
company management is expected to focus on the percentage of our common stock
the target company shareholders would acquire in exchange for all of their
shareholdings in the target company. Depending upon, among other things, the
target company's assets and liabilities, our shareholders will in all likelihood
hold a substantially lesser percentage ownership interest in us following any
merger or acquisition. The percentage ownership may be subject to significant
reduction in the event we acquire a target company with substantial assets. Any
merger or acquisition effected by us can be expected to have a significant
dilutive effect on the percentage of shares held by our shareholders at that
time.

         We will participate in a business opportunity only after the
negotiation and execution of appropriate written agreements. Although the terms
of such agreements cannot be predicted, generally such agreements will require
some specific representations and warranties by all of the parties thereto, will
specify certain events of default, will detail the terms of closing and the
conditions which must be satisfied by each of the parties prior to and after
such closing, will outline the manner of bearing costs, including costs
associated with our attorneys and accountants, will set forth remedies on
default and will include miscellaneous other terms.

         As previously stated, we will not acquire or merge with any entity
which cannot provide independent audited financial statements within a
reasonable period of time after closing of the proposed transaction. We will be
subject to all of the reporting requirements included in the 1934 Act. Included
in these requirements is the affirmative duty to file independent audited
financial statements as part of our Form 8-K to be filed with the Securities and
Exchange Commission upon consummation of a merger or acquisition, as well as our
audited financial statements included in its annual report on Form 10-K (or
10-KSB, as applicable). If such audited financial statements are not available
at closing, or within time parameters necessary to insure our compliance with
the requirements of the 1934 Act, or if the audited financial statements
provided do not conform to the representations made by the candidate to be
acquired in the closing documents, the closing documents will provide that the
proposed transaction will be voidable, at the discretion of our present
management. If such a transaction is voided, the agreement will also contain a
provision providing for the acquisition entity to reimburse us for all costs
associated with the proposed transaction.

         We do not intend to make any loans to any prospective acquisition or
merger candidates or to unaffiliated third parties. We may make loans only to
prospective acquisition or merger candidates only when such fund is available,
we have entered into an acquisition or merger agreement and making a loan to the
acquisition or merger candidate is beneficial to us. The considerations to be
used in determining whether to make loans includes the availability and the need
of cash by the acquisition or merger candidate in order to complete the
acquisition or merger. The loan may be either secured or non-secured depending
on the result of negotiation and there is no limitations as to the amounts that
may be loaned.


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         We do not intend to provide our shareholders with any complete
disclosure documents, including audited financial statements, concerning an
acquisition or merger candidate and its business prior to the consummation of
any acquisition or merger transaction.

ITEM 7.           FINANCIAL STATEMENTS.

         The financial statements required by this report are appended hereto
commencing on F-1.

ITEM 8.           CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS

         None.

                                    PART III

ITEM 9.           DIRECTORS AND EXECUTIVE OFFICERS

         The following table sets forth certain information concerning each of
the Company's directors and executive officers:

         Name                       Age               Position
         ----                       ---               --------

         Dennis Crowley             41                President and Director

         Mr. Dennis Crowley is our President and Director. Mr. Crowley was
appointed in February 2003. Mr. Crowley has served as the principal owner of PNC
Investments Ltd., a private merchant banking firm since 1994. Mr. Crowley is a
director of Spear & Jackson, Inc. (OTCBB: "SJCK.OB").

TERM OF OFFICE

         Our Directors are appointed for terms of one year to hold office until
the next annual general meeting of the holders of our common stock, as provided
by the Nevada Revised Statutes, or until removed from office in accordance with
our bylaws. Our officers are appointed by our board of directors and hold office
until removed by the board.

COMMITTEES

         The Company presently has no committees of its Board of Directors.

COMPLIANCE WITH SECTION 16(a) OF THE SECURITIES EXCHANGE ACT

         Section 16(a) of the Securities Exchange Act requires our executive
officers and directors, and persons who beneficially own more than ten percent
of our equity securities, to file reports of ownership and changes in ownership
with the Securities and Exchange Commission. Officers, directors and greater
than ten percent shareholders are required by SEC regulation to furnish us with
copies of all Section 16(a) forms they file. Based on our review of the copies

                                       11
<PAGE>

of such forms received by it, we believe that during the fiscal period ended
December 31, 2002, all such filing requirements applicable to our officers and
directors were complied with.

CONFLICTS OF INTEREST

         Mr. Crowley is associated with other firms involved in a range of
business activities. Consequently, there are potential inherent conflicts of
interest in his acting as our officer and director. Insofar as the officer and
director is engaged in other business activities, Mr. Crowley anticipates that
he will devote only a minor amount of time to our affairs.

INVESTMENT COMPANY ACT OF 1940

         Although we will be subject to regulation under the Securities Act of
1933 and the Securities Exchange Act of 1934, we believe that we will not be
subject to regulation under the Investment Company Act of 1940 insofar as we
will not be engaged in the business of investing or trading in securities. In
the event that we engage in business combinations which result in our holding
passive investment interests in a number of entities, we could be subject to
regulation under the Investment Company Act of 1940. In this event, we would be
required to register as an investment company and could be expected to incur
significant registration and compliance costs. We have obtained no formal
determination from the Securities and Exchange Commission as to our status under
the Investment Company Act of 1940 and, consequently, any violation of such Act
would subject us to material adverse consequences. We expect to be exempt from
the Investment Company Act of 1940 via Regulation 3a-2 thereto.

INVESTMENT ADVISOR ACT OF 1940

         We are not an "investment adviser" under the Federal Investment Adviser
Act of 1940, which classification would involve a number of negative
considerations. Accordingly, we will not furnish or distribute advice, counsel,
publications, writings, analysis or reports to anyone relating to the purchase
or sale of any securities within the language, meaning and intent of Section
2(a)(11) of the Investment Adviser Act of 1940, 15 U.S.C.

ITEM 10.          EXECUTIVE COMPENSATION

         None of our executive officers or directors received any form of
compensation from us in the past three fiscal years. Mr. Crowley, our President,
has agreed to allocate a portion of his time to our business activities, without
compensation. We anticipate that the amount of time devoted by Mr. Crowley to
implement our business plan will be immaterial, and therefore we have not
recorded any expense relating to such service for financial statement purposes.
It is possible that, after we successfully consummates a merger or acquisition
with an unaffiliated entity, that entity may desire to employ or retain one or a
number of members of its management for the purposes of providing services to
the surviving entity, or otherwise provide other compensation to such persons.
However, we have adopted a policy whereby the offer of any post-transaction
remuneration to members of management will not be a consideration in our
decision to undertake any proposed transaction. Members of our board have agreed
to disclose to the entire board of directors any discussions concerning possible
compensation to be paid to them by any entity

                                       12
<PAGE>

which proposes to undertake a transaction with us. We have not adopted any
retirement, pension, profit sharing, stock option or insurance programs or other
similar programs for the benefit of employees.

ITEM 11.          PRINCIPAL SHAREHOLDERS

         The following table sets forth certain information as of January 30,
2003 regarding beneficial ownership of our common stock by (i) each stockholder
known us to be the beneficial owner of more than 5% of our common stock, (ii) by
each director and executive officer and (iii) by all executive officers and
directors as a group. Each of the persons named in the table has sole voting and
investment power with respect to common stock beneficially owned. The address of
all shareholders in this table is 5030 Champion Boulevard, Suite 6-272, Boca
Raton, Florida 33496.

                                            Number of            Percentage of
         Name                               shares owned         shares owned
         ----                               ------------         ------------

         Triton Enterprises, Inc.           6,500,000            65.1%
         Dennis Crowley (1)                 6,500,000            65.1%
         All officers and directors
                  as a group (1 person)     6,500,000            65.1%

         ----------
         (1)      Dennis Crowley is the sole shareholder of Triton Enterprises,
                  Inc., and serves as our president and director.

ITEM 12.          CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

         None.

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

         (a)      Exhibits required by Item 601 of Regulation S-B

                  3.1(a)   Articles of Incorporation of Global Teledata
                           Corporation (1)

                  3.1(b)   Amendment to the Articles of Incorporation of Global
                           Teledata Corporation (2)

                  3.1(c)   Certificate of Merger (1)

                  99.1     Certification of Principal Executive Officer and
                           Principal Financial Officer, dated March 31, 2003 (3)

         (b)      Reports on Form 8-K

                  None.

         ----------
         (1)      Previously filed with our Form 10-SB Registration Statement on
                  January 31, 2000.
         (2)      Previously filed with our Form 10-KSB for the fiscal year
                  ended December 31, 1999.
         (3)      Filed herewith.


                                       13
<PAGE>

ITEM 14.          CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

         Within the 90 days prior to the filing date of this report, the Company
carried out an evaluation of the effectiveness of the design and operation of
its disclosure controls and procedures pursuant to Exchange Act rule 12a-14.
This evaluation was done under the supervision and with the participation of the
Company's Principal Executive Officer and Principal Accounting Officer. Based
upon that evaluation, he concluded that the Company's disclosure controls and
procedures are effective in gathering, analyzing and disclosing information
needed to satisfy the Company's disclosure obligations under the Exchange Act.

CHANGES IN INTERNAL CONTROLS

         There were no significant changes in the Company's internal controls or
in other factors that could significantly affect those controls since the most
recent evaluation of such controls.


                                       14
<PAGE>

                                   SIGNATURES

         In accordance with Section 13 or 15(d) of the Securities Exchange Act
of 1934, the Registrant caused this Report to be signed on its behalf by the
undersigned, thereunder duly authorized.

                                             GLOBAL TELEDATA CORPORATION

                                             /s/ Dennis Crowley
                                             -------------------------
                                             Dennis Crowley, President

         In accordance with the Exchange Act, this Report was signed by the
following persons in the capacities and on the dates stated.

Signatures                  Title                                Date
----------                  -----                                ----

/s/ Dennis Crowley          President and Director               March 31, 2003
----------------------      (Principal Executive, Financial
Dennis Crowley              and Accounting Officer)


                                       15
<PAGE>

      CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT
                TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

         In connection with the accompanying Annual Report of Global Teledata
Corporation (the "Registrant") on Form 10-KSB for the fiscal year ending
December 31, 2003, as filed with the Securities and Exchange Commission on the
date hereof (the "Annual Report"), I, Dennis Crowley, Principal Executive
Officer and Principal Financial Officer of the Registrant, certify, pursuant to
18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley
Act of 2002, to the best of my knowledge, that:

         1. I have reviewed this Annual Report;

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

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

         4. I am responsible for establishing and maintaining disclosure
controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for
the Registrant and have; a) designed such disclosure controls and procedures to
ensure that material information relating to the Registrant, including its
consolidated subsidiaries, to the extent applicable, is made known to me by
others within those entities, particularly during the period in which this
Annual Report is being prepared; b) evaluated the effectiveness of the
Registrant's disclosure controls and procedures as of a date within 90 days
prior to the filing date of this Annual Report (the "Evaluation Date"); and c)
presented in this Annual Report my conclusions about the effectiveness of the
disclosure controls and procedures based on my evaluation as of the Evaluation
Date;

         5. I have disclosed, based on my most recent evaluation, to the
Registrant's auditors and the audit committee of Registrant's board of directors
(or persons performing the equivalent functions):

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

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

         6. I have indicated in this Annual Report whether or not there were
significant changes in internal controls or in other factors that could
significantly affect internal controls subsequent to the date of my most recent
evaluation, including any corrective actions with regard to significant
deficiencies and material weaknesses.


Dated: March 31, 2003                     By: /s/ Dennis Crowley
                                              -------------------------------
                                              Dennis Crowley
                                              Principal Executive Officer and
                                              Principal Financial Officer


                                       16
<PAGE>


                           GLOBAL TELEDATA CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)

                              FINANCIAL STATEMENTS

                                DECEMBER 31, 2002


                                 C O N T E N T S


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

Balance Sheet......................................................... F-3

Statements of Operations.............................................. F-4

Statements of Stockholders' Equity (Deficit).......................... F-5

Statements of Cash Flows.............................................. F-7

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


                                      F-1
<PAGE>

                          INDEPENDENT AUDITORS' REPORT
                          ----------------------------


The Board of Directors
Global Teledata Corporation
(A Development Stage Company)
Jupiter, Florida

We have audited the accompanying balance sheet of Global Teledata Corporation (a
development stage company), as of December 31, 2002 and the related statements
of operations, stockholders' equity (deficit), and cash flows for the years
ended December 31, 2002 and 2001 and from inception on May 15, 1995 through
December 31, 2002. These financial statements are the responsibility of the
company's management. Our responsibility is to express an opinion on these
financial statements based on our audits.

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

In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Global Teledata Corporation (a
development stage company), as of December 31, 2002 and the results of its
operations and its cash flows for the years ended December 31, 2002 and 2001 and
from inception on May 15, 1995 through December 31, 2002 in conformity with
accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern. As discussed in Note 2 to the
financial statements, the Company is a development stage company with no
significant operating results to date. These conditions raise substantial doubt
about its ability to continue as a going concern. Management's plans in regard
to these matters are also described in Note 2. The financial statements do not
include any adjustments that might result from the outcome of this uncertainty.



HJ & Associates, LLC
Salt Lake City, Utah
March 28, 2003

                                      F-2
<PAGE>

                           GLOBAL TELEDATA CORPORATION
                          (A Development Stage Company)
                                  Balance Sheet


                                                                    December 31,
                                                                        2002
                                                                      --------
CURRENT ASSETS

   Cash                                                              $     --
                                                                     --------
     Total Current Assets                                                  --
                                                                     --------
     TOTAL ASSETS                                                    $     --
                                                                     ========

                 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
                 ----------------------------------------------

CURRENT LIABILITIES

   Accounts payable                                                  $  3,092
                                                                     --------
     Total Liabilities                                                  3,092
                                                                     --------
STOCKHOLDERS' EQUITY (DEFICIT)

   Common stock; authorized 25,000,000 common shares
    at $0.001 par value; 9,975,354 shares issued and
    outstanding                                                         9,975
   Additional paid-in capital                                          59,511
   Deficit accumulated during development stage                       (72,578)
                                                                     --------
     Total Stockholders' Equity (Deficit)                              (3,092)
                                                                     --------
     TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)            $     --
                                                                     ========


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

                                      F-3
<PAGE>

                           GLOBAL TELEDATA CORPORATION
                          (A Development Stage Company)
                            Statements of Operations

                                                                        From
                                                                    Inception on
                                      For the Years Ended              May 15,
                                         December 31,               1995 Through
                                  -----------      -----------      December 31,
                                      2002             2001             2002
                                  -----------      -----------      -----------

REVENUE                           $        --      $        --      $        --

EXPENSES                               10,128           21,011           72,578
                                  -----------      -----------      -----------

NET LOSS                          $   (10,128)     $   (21,011)     $   (72,578)
                                  ===========      ===========      ===========

BASIC LOSS PER SHARE              $     (0.00)     $     (0.00)
                                  ===========      ===========
WEIGHTED AVERAGE SHARES
 OUTSTANDING                        9,975,354        9,975,354
                                  ===========      ===========


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


                                      F-4
<PAGE>

                           GLOBAL TELEDATA CORPORATION
                          (A Development Stage Company)
                  Statements of Stockholders' Equity (Deficit)
               From Inception on May 15, 1995 to December 31, 2001
<TABLE>
<CAPTION>
                                                                                       Deficit
                                                                                     Accumulated
                                             Common Stock             Additional     During the
                                      -------------------------         Paid-in      Development
                                        Shares          Amount          Capital         Stage
                                      ----------      ----------      ----------     -----------
<S>                                    <C>                 <C>               <C>        <C>
Balance at inception on
 May 15, 1995                                 --      $       --      $       --     $       --

Issuance of common stock
 at inception at $0.001 per share      1,975,354           1,975              --             --

Net loss from inception to
 December 31, 1995                            --              --              --         (2,033)
                                      ----------      ----------      ----------     ----------

Balance, December 31, 1995             1,975,354           1,975              --         (2,033)

Common stock issued for
acquisition of Marine Way, Inc.
stock at $0.001 per share              8,000,000           8,000              --             --

Expenses paid by shareholder
 on behalf of the Company                     --              --             780             --

Net loss for the year ended
 December 31, 1996                            --              --              --         (8,880)
                                      ----------      ----------      ----------     ----------

Balance, December 31, 1996             9,975,354           9,975             780        (10,913)

Expenses paid by shareholder
 on behalf of the Company                     --              --           1,000             --

Net loss for the year ended
 December 31, 1997                            --              --              --         (1,100)
                                      ----------      ----------      ----------     ----------

Balance, December 31, 1997             9,975,354           9,975           1,780        (12,013)

Cancellation of common stock          (6,500,000)         (6,500)          6,500             --

Expenses paid by shareholder
 on behalf o the Company                      --              --             959             --

Net loss for the year ended
 December 31, 1998                            --              --              --           (701)
                                      ----------      ----------      ----------     ----------

Balance, December 31, 1998             3,475,354      $    3,475      $    9,239     $  (12,714)
                                      ----------      ----------      ----------     ----------
</TABLE>


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

                                      F-5
<PAGE>

                           GLOBAL TELEDATA CORPORATION
                          (A Development Stage Company)
                  Statements of Stockholders' Equity (Deficit)
               From Inception on May 15, 1995 to December 31, 2001
<TABLE>
<CAPTION>
                                                                               Deficit
                                                                              Accumulated
                                           Common Stock         Additional    During the
                                     -----------------------      Paid-in     Development
                                       Shares       Amount        Capital        Stage
                                     ---------     ---------     ---------     ---------
<S>                                  <C>           <C>           <C>           <C>
Balance, December 31, 1998           3,475,354     $   3,475     $   9,239     $ (12,714)
                                     ---------     ---------     ---------     ---------

Expenses paid by shareholder
 on behalf of the Company                   --            --         3,442            --

Common stock issued for services
 valued at $0.001 per share          6,500,000         6,500            --            --

Net loss for the year ended
 December 31, 1999                          --            --            --       (12,748)
                                     ---------     ---------     ---------     ---------

Balance, December 31, 1999           9,975,354         9,975        12,681       (25,462)

Expenses paid by shareholder
 on behalf of the Company                   --            --        17,499            --

Net loss for the year ended
 December 31, 2000                          --            --            --       (15,977)
                                     ---------     ---------     ---------     ---------

Balance, December 31, 2000           9,975,354         9,975        30,180       (41,439)

Expenses paid by shareholder
 on behalf of the Company                   --            --        22,295            --

Net loss for the year ended
 December 31, 2001                          --            --            --       (21,011)
                                     ---------     ---------     ---------     ---------

Balance, December 31, 2001           9,975,354     $   9,975     $  52,475     $ (62,450)

Expenses paid by shareholder
 on behalf of the Company                   --            --         7,036            --

Net loss for the year ended
 December 31, 2002                          --            --            --       (10,128)
                                     ---------     ---------     ---------     ---------

Balance, December 31, 2002           9,975,354     $   9,975     $  59,511     $ (72,578)
                                     =========     =========     =========     =========
</TABLE>


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

                                      F-6
<PAGE>

                           GLOBAL TELEDATA CORPORATION
                          (A Development Stage Company)
                            Statements of Cash Flows
<TABLE>
<CAPTION>

                                                                                   From
                                                                                Inception on
                                                       For the Years Ended        May 15,
                                                           December 31,         1995 Through
                                                     --------      --------     December 31,
                                                       2002          2001          2002
                                                     --------      --------      --------
<S>                                                  <C>           <C>           <C>
CASH FLOWS FROM OPERATING ACTIVITIES

   Net loss                                          $(10,128)     $(21,011)     $(72,578)
                                                     --------      --------      --------
   Adjustments to reconcile net loss to
    cash used by operations:
     Common stock issued for services                      --            --        14,500
     Amortization                                          --            --           500
   Changes in operating assets and liabilities:
     Increase in other assets                              --            --          (500)
     Increase (decrease) in accounts payable            3,092        (1,284)        3,092
                                                     --------      --------      --------

       Net Cash Used by Operating Activities           (7,036)      (22,295)      (54,986)
                                                     --------      --------      --------
CASH FLOWS FROM INVESTING ACTIVITIES                       --            --            --
                                                     --------      --------      --------
CASH FLOWS FROM FINANCING ACTIVITIES

   Expenses paid by shareholder                         7,036        22,295        53,011
   Issuance of common stock                                --            --         1,975
                                                     --------      --------      --------

       Net Cash Provided by Financing Activities        7,036        22,295        54,986

NET INCREASE (DECREASE) IN CASH                            --            --            --

CASH AT BEGINNING OF PERIOD                                --            --            --
                                                     --------      --------      --------
CASH AT END OF PERIOD                                $     --      $     --      $     --
                                                     ========      ========      ========
CASH PAID DURING THE PERIOD FOR:

   Interest                                          $     --      $     --      $     --
   Income taxes                                      $     --      $     --      $     --

NON-CASH FINANCING ACTIVITIES

       Common stock issued for services              $     --      $     --      $ 14,500
</TABLE>


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

                                      F-7
<PAGE>

                           GLOBAL TELEDATA CORPORATION
                          (A Development Stage Company)
                        Notes to the Financial Statements
                           December 31, 2002 and 2001


NOTE 1 -      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

              a.  Organization

              The financial statements presented are those of Global Teledata
              Corporation, (a development stage company) (the Company). The
              Company was incorporated in the State of Nevada on May 15, 1995 as
              Television Networking, Inc., for the purpose of entering the video
              production business. The Company ceased operations in 1996 and has
              since been inactive. On November 9, 1998, the Company's name was
              changed to Global Teledata Corporation.

              b.  Accounting Method

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

              c.  Basic Loss per Share

                                              For the Year Ended
                                               December 31, 2002
                              -------------------------------------------------
                                 Loss               Shares            Per Share
                              (Numerator)        (Denominator)         Amount
                              -----------        -------------         ------
                               $(10,128)          9,975,354          $  (0.00)
                               ========           =========          ========

                                              For the Year Ended
                                               December 31, 2001
                              --------------------------------------------------
                                 Loss              Shares            Per Share
                              (Numerator)        (Denominator)        Amount
                              -----------        -------------        ------
                               $(21,011)          9,975,354          $  (0.00)
                               ========           =========          ========

              The computation of basic loss per share of common stock is based
              on the weighted average number of shares outstanding.

                                      F-8
<PAGE>

                           GLOBAL TELEDATA CORPORATION
                          (A Development Stage Company)
                        Notes to the Financial Statements
                           December 31, 2002 and 2001


NOTE 1 -      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

              d.  Provision for Taxes

              Deferred taxes are provided on a liability method whereby deferred
              tax assets are recognized for deductible temporary differences and
              operating loss and tax credit carryforwards and deferred tax
              liabilities are recognized for taxable temporary differences.
              Temporary differences are the differences between the reported
              amounts of assets and liabilities and their tax bases. Deferred
              tax assets are reduced by a valuation allowance when, in the
              opinion of management, it is more likely that not that some
              portion or all of the deferred tax assets will not be realized.
              Deferred tax assets and liabilities are adjusted for the effects
              of changes in tax laws and rates on the date of enactment.

              Net deferred tax assets consist of the following components as of
              December 31, 2002 and 2001:
                                                       2002            2001
                                                   -----------      ----------
              Deferred tax assets:
                    NOL Carryover                  $  (25,770)      $ (18,240)

              Deferred tax liabilities:                    --              --
                                                   ----------       ---------
              Valuation allowance                      25,770          18,240
                                                   $        -       $      --
                                                   ===========      =========
              The income tax provision differs from the amount of income tax
              determined by applying the U.S. federal income tax rates of 39% to
              pretax income from continuing operations for the years ended
              December 31, 2002 and 2001 due to the following:

                                                       2002           2001
                                                   -----------      ----------
              Book loss                            $   (3,950)      $  (7,984)
              State taxes                                (100)             --
              Valuation allowance                       4,050           7,984
                                                   -----------      ----------
                                                   $       --       $      --
                                                   ===========      =========

              At December 31, 2002, the Company had net operating loss
              carryforwards of approximately $66,000 that may be offset against
              future taxable income from the year 2002 through 2022. No tax
              benefit has been reported in the December 31, 2002 financial
              statements since the potential tax benefit is offset by a
              valuation allowance of the same amount.

              Due to the change in ownership provisions of the Tax Reform Act of
              1986, net operating loss carryforwards for Federal income tax
              reporting purposes are subject to annual limitations. Should a
              change in ownership occur, net operating loss carryforwards may be
              limited as to use in future years.

                                      F-9
<PAGE>

                           GLOBAL TELEDATA CORPORATION
                          (A Development Stage Company)
                        Notes to the Financial Statements
                           December 31, 2002 and 2001


NOTE 1 -      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

              e.  Cash Equivalents

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

              f.  Estimates

              The preparation of financial statements in conformity with
              accounting principles generally accepted in the United States of
              America requires management to make estimates and assumptions that
              affect the reported amounts of assets and liabilities and
              disclosure of contingent assets and liabilities at the date of the
              financial statements and the reported amounts of revenues and
              expenses during the reporting period. Actual results could differ
              from those estimates.

              g.  Revenue Recognition

              The Company currently has no source of revenues. Revenue
              recognition policies will be determined when principal operations
              begin.

NOTE 2 -      GOING CONCERN

              The Company's financial statements are prepared using accounting
              principles generally accepted in the United States of America
              applicable to a going concern which contemplates the realization
              of assets and liquidation of liabilities in the normal course of
              business. The Company has not yet established an ongoing source of
              revenues sufficient to cover its operating costs and allow it to
              continue as a going concern. The ability of the Company to
              continue as a going concern is dependent on the Company obtaining
              adequate capital to fund operating losses until it becomes
              profitable. If the Company is unable to obtain adequate capital,
              it could be forced to cease development of operations.

              In order to continue as a going concern, develop a reliable source
              of revenues, and achieve a profitable level of operations the
              Company will need, among other things, additional capital
              resources. Management's plans to continue as a going concern
              include raising additional capital through sales of common stock.
              However, management cannot provide any assurances that the Company
              will be successful in accomplishing any of its plans.

              The ability of the Company to continue as a going concern is
              dependent upon its ability to successfully accomplish the plans
              described in the preceding paragraph and eventually secure other
              sources of financing and attain profitable operations. The
              accompanying financial statements do not include any adjustments
              that might be necessary if the Company is unable to continue as a
              going concern.


                                      F-10
<PAGE>

                           GLOBAL TELEDATA CORPORATION
                          (A Development Stage Company)
                        Notes to the Financial Statements
                           December 31, 2002 and 2001


NOTE 3 -      STOCK EXCHANGES

              On January 2, 1996, the Company entered into a stock exchange
              agreement whereby it acquired 100 shares of the voting stock of
              the Marine Way, Inc. in exchange for 8,000,000 shares of its
              common stock. The investment has been determined to have no value
              and has been written off.

              On September 30, 1996, the Company entered into an acquisition
              agreement whereby it acquired 100% of the issued and outstanding
              shares of Armor Insurance Co., Inc. in exchange for 8,000,000
              shares of its common stock. The agreement was subsequently
              rescinded and the shares issued were canceled. The rescission has
              been recorded retroactively in the financial statements as not
              having occurred.

              In 1998, the Company canceled 6,500,000 shares of common stock as
              part of a merger agreement with International Computer Resources,
              Inc. The shares were part of a 1996 issuance to Marine Way, Inc.
              The merger with International Computer Resources, Inc. was not
              completed and the shares were reissued to Marine Way, Inc. on
              November 16, 1999, restoring all stockholders back to pre-merger
              status.

NOTE 4 -      RELATED PARTY TRANSACTIONS

              During the year ended December 31, 1996, expenses paid by a
              shareholder on behalf of the company as additional paid-in capital
              totaled $780.

              During the year ended December 31, 1997, expenses paid by a
              shareholder on behalf of the company as additional paid-in capital
              totaled $1,000.

              During the year ended December 31, 1998, expenses paid by a
              shareholder on behalf of the company as additional paid-in capital
              totaled $959.

              During the year ended December 31, 1999, expenses paid by a
              shareholder on behalf of the company as additional paid-in capital
              totaled $3,442.

              During the year ended December 31, 2000, expenses paid by a
              shareholder on behalf of the company as additional paid-in capital
              totaled $17,499.

              During the year ended December 31, 2001, expenses paid by a
              shareholder on behalf of the company as additional paid-in capital
              totaled $22,295.

              During the year ended December 31, 2002, expenses paid by a
              shareholder on behalf of the company as additional paid-in capital
              totaled $7,036.

                                      F-11
<PAGE>

                           GLOBAL TELEDATA CORPORATION
                          (A Development Stage Company)
                        Notes to the Financial Statements
                           December 31, 2002 and 2001


NOTE 5 -      NEWLY ISSUED ACCOUNTING PRONOUNCEMENTS

              The Company adopted the provisions of FASB Statement No.145,
              "Rescission of FASB Statements No. 4, 44, and 62, Amendment of
              FASB Statement No. 13, and Technical Corrections," FASB Statement
              No. 146, "Accounting for Costs Associated with Exit or Disposal
              Activities," FIN 44, "Accounting for Certain Transactions
              Involving Stock Compensation (an interpretation of APB Opinion No.
              25)," and FASB Statement No. 147, "Acquisitions of Certain
              Financial Institutions - an amendment of FASB Statements No. 72
              and 144 and FASB Interpretation No. 9." The effect of these
              adopted provisions on the Company's financial statements was not
              significant.

              In December 2002, the FASB issued Statement No. 148, "Accounting
              for Stock-Based Compensation - Transition and Disclosure - an
              amendment of FASB Statement No. 123" (SFAS 148). SFAS 148 is
              effective for fiscal years beginning after December 15, 2003. The
              Company is currently reviewing SFAS 148.

NOTE 6 -      SUBSEQUENT EVENT

              On February 25, 2003, the principal shareholder of the Company
              sold all its shares of the Company to Triton Enterprises in
              exchange for a cash payment of $15,000 and other consideration.
              Mr. Dennis Crowley, the principal of Triton Enterprises, was also
              elected as President and director of the Company. Following the
              transaction, Mr. Alan R. Pavsner, the former principal of the
              Company, resigned in all capacities with the Company. Triton
              Enterprises owns 6,500,000 shares of common stock of the Company
              or 65.2% of the outstanding common stock of the Company.


                                      F-12