FORM 10-KSB-A
 
 SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 
 [X] ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d)
 OF THE SECURITIES EXCHANGE ACT OF 1934
 
 Commission File Number: 000-30809
 
 For the Year ended December 31, 2002
 
 Dated: July 15, 2003
 
 
 **Electronic Corporate Filing Services, Inc.**
   **Nevada**
**91-2019712**(Jurisdiction of Incorporation)
(I.R.S. Employer Identification)**26842 Salinas Lane, Mission Viejo CA**
**92653**(Address of principal executive offices)
(Zip Code)**(949) 235-0198**Registrant's telephone number, including area code
 
 
 
 Securities registered pursuant to Section 12(b) of the Act: 8,444,000 Common Stock
 
 
 Yes xNo o (Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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.)
 
 o (Indicate by check mark whether if disclosure of delinquent filers ( 229.405) is not and will not to the best of Registrant's knowledge be contained herein, in definitive proxy or information statements incorporated herein by reference or any amendment hereto.)
 
 formerly Mayscom, Inc.
 4 Normandy Drive, Kenner LA 70065
 
 Issuer's Revenues for this fiscal year: $150,155
 
 As of 12/31/02 the number of shares of Common Stock outstanding was 10,054,000 .
 
 As of 03/31/03 the number of shares of Common Stock outstanding was 6,880,000 .
 
 
 As of 3/31/03 the number of shares of Common Stock held by non-affiliates was 880,000
 
 Transitional Small Business Disclosure Format: Yes o No x
 
 
 Exhibit Index is found on page 6
 
 **Page - 1**
  **INTRODUCTION**
2**ITEM 6. Management's Discussion and Analysis or Plan of Operation**
2(a) Plan of Operation: Next Twelve Months
2(b) Discussion and Analysis of Financial Condition and Results of Operations:
3**ITEM 7. Financial Statements**
6**ITEM 8. Changes In and Disagreements With Accountants on Accounting and Financial Disclosure**
6**ITEM 14. Attachments, Financial Statements.**
6
   
  
 INTRODUCTION
 
 This Amendment to our annual report on Form 10-KSB-A is provided for the purpose of revising Items 6 ,7 and 8 of Part II. The we do not believe that these changes affect us adversely. Our Management and Auditor have concluded that our financial reporting should be made using the reverse merger method, and should have been made in that manner. The net effect of the change in method is to provide an additional year of operating history for the acquired business.
 
 Our reverse acquisition was an acquisition by a public company of a private company with an active business, in which control passed to the shareholders and management of the acquired or "target" company. In form we acquired it. In substance it aquired us. That is why the the term "reverse" is used.
 
 In our initial report, our financial statements proceeded from the point of view of the acquiring company. We believe that the better and appropriate method should proceed from the point of view of the target. The public company had not revenunes or business the previous year. The acquired busiess had operations in that year. The new and appropriate method reports the history of operations of the the target, which information is more relevant than the non-operating history of the acquiring company.
 
 
 ITEM 6. Management's Discussion and Analysis or Plan of Operation.
 
 ( a ) Plan of Operation: Next Twelve Months. Our plan of Operation focuses upon the business of EdgarCFS, our to be acquired subsidiary, and on the operations led by our new management. We would continue to serve existing customers, and seek to enlarge our customer base, by referrals and selected promotional advertising.
 
 ( 1 ) Cash Requirements and of Need for additional funds, twelve months. We have no substantial cash requirements for the next twelve months, for our operations. We believe that our revenues will be sufficient for operational purposes. We will, however, attempt in due course to achieve the quotation of our common stock, on either the NQB Pink Sheets, or the OTCBB (Over-The-Counter Bulletin Board). We intend also to register our existing shares for resale by our existing sharholders, pursuant the Securities Act of 1933. No amounts would be receivable by us in connection with this registration or any resales, for or by our existing shareholders. In this connection we would expect significant legal and professional expense, in addition to compliance with our periodic reporting requirements, which may require advances from our principals during the next twelve months.
 
 Reference is made to Notes 2 and 3, Going Concern and Development  Stage Company , of our Audited Financial Statements: Our financial statements are prepared using the generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, the Company has current revenues and may require further advances from our principal shareholder, or possibly from
 
 
 **Page - 2**
 an additional private placement. Without realization of additional capital, it would be some rist of our ability to continue as a going concern. It is not management's plan to seek additional capital through a merger with an existing operating company. We have acquired our operating subsidiary and will focus our efforts on its business. We are a "development stage company". The term refers to the early stage in which a company concentrates substantially all of our efforts in raising capital and defining our business operations. We are a development stage company, with current issues of developing our funding and/or cash flow, and defining and expanding our business with an aim to achieving profitability in future years. We are generating revenues currently. Profitablity has yet to be demonstarated with confidence, although our revenues, absent non-recurring expenses suggests the possibility of achieving profiability in future periods.
 
 We do not anticipate any contingency upon which we would voluntarily cease filing reports with the SEC, even though it may cease to be required to do so, after the effectiveness of this 1934 Act registration. It is in our compelling interest to report our affairs quarterly, annually and currently, as the case may be, generally to provide accessible public information to interested parties, and also specifically to establish and maintain our qualification for the OTCBB.
 
 ( b ) Discussion and Analysis of Financial Condition and Results of Operations: .
 
 ( 1 ) Operations and Results for the past two fiscal years. Our new business is operating successfully, but certainly at modest levels with a view to our expenses and debts. The great bulk of our genereral and adminsitrative expeses were for legal, professional, accounting and auditing, in connection with our acquisition, and these periodic reports.
 
 We repoted the following information in our Annual Report, which we this report revises:
 
 Previously Reported Information:
  Operations
Selected Information


For the Year
ended
December 31
2002


For the Year
ended
December 31
2001


Inception
March 26,
June 13, 1990
to
December
31
2002Revenues:

$
150,155

$
0

$
151,905Total Revenues


150,155


0


151,905General & Administrative


(162,881
)

(71,455
)

(348,478
)Total Expenses


(162,881
)

(71,455
)

(348,478
)Net (Loss)


(12,726
)

(71,455
)

(196,573
)
  This information was based on " Direct Acquistion Accounting " , in which our acquiring public company treated itself as the continuing business; but further reflection has convinced us that " Reverse Merger Accounting " is the more correct method, treating the acquired business as the continuing history. The principal difference resulting from the retroactive change in accounting method is that we have two years of history of our current business, rather than one. Accordingly we have now reported income and expeses for 2001 as well as for 2002.
  **Page - 3** 
 
 Current Revised Invormation
  Operations
Selected Information


For the Year
ended
December 31
2002


For the Year
ended
December 31
2001


Inception
March 26,
June 13, 1990
to
December
31
2002Revenues:

$
150,155

$
12,602

$
162,757Total Revenues


150,155


12,602


162,757(5,000
)

(5,000
)General & Administrative


(162,881
)

(9,139
)

(172,020
)Total Expenses


(162,881
)

(14,139
)

(177,020
)Net (Loss)


(12,726
)

(1,537
)

(14,263
)
  These revisions involve no change for 2002. New information is provided for 2001. The additional information enables a meaningfu comparison of the the two corresponding periods, which the former method did not. We began operations in 2001 with modest revenues and a very limited initial client following. Our business has grown in 2002 with increased client following and revenues. Our initial expenses, for organaizaion, legal and accounting, are not deemed to be recurring expenses. We accordingly view our business as growing toward profitablility. We do intend to register existing shares for resale. The result of the action in furtherance of that intention, would be that further non-recurring legal and professional expenses are likely to occur again for 2003. This is likely to result in a delay in demonstrating full profitability, for future years.
 
 The Remainder of this Page is Intentionally left Blank
   **Page - 4** 
 
 ( 2 ) Financial Condition. We have very little cash, but we have very little need for working cash in our service business.
 
 Previously Reported Information:
  Balance Sheet:
Selected Information


December 31
2002


December 31
2001Cash

$
2,176

$
2,176Current Assets


2,176


2,176Total Assets


2,176


2,176Accounts Payable


27,626


27,626AP Related Party


54,660


54,660Total Liabilities


82,286


82,286Common Stock


10,054


10,054Paid-in Capital


106,409


106,409Accumulated Deficit


(196,583
)

(196,583
)Total Equity


(80,120
)

(80,120
)Total Liabilities and Equity


2,166


2,166
  Current Revised Invormation . The changes are found in the Equity section of the following selected information.
  Balance Sheet:
Selected Information


December 31
2002Cash

$
2,176Current Assets


2,176Total Assets


2,176Accounts Payable


27,626AP Related Party


54,660Total Liabilities


82,286Common Stock


10,054Discount on Stock


(75,901
)Accumulated Deficit


(14,263
)Total Equity


(80,110
)Total Liabilities and Equity


2,176
  Notwithstanding our operating history of revenue generation, we are a development stage company, and substantial doubt may exist as our prospects as a going-concern into the future. We find that without regard to the non-recurring charges for legal and professional expenses, we may have flirted with marginal profitablity. This does not take into account that our expenses would be expected to rise as our business volume develops, if and when it may, so that curren history may not be indicative of future results.
   **Page - 5**
  
 Future Prospects . We expect to conduct our businesses and enlarge our customer base. Investment in our corporation must be deemed highly speculative for the present and indefinite future. There can be no assurance that we will be successful in generating growth in revenues, or raising capital through private placements or otherwise, should we need to do so. Even if we are successful in raising capital through the sources specified, there can be no assurances that any such financing would be available in a timely manner or on terms acceptable to us and our current shareholders. Additional equity financing could be dilutive to our then existing shareholders, and any debt financing could involve restrictive covenants with respect to future capital raising activities and other financial and operational matters.
 
 ITEM 7. Financial Statements.
 
 Please refer to the Audit Committe Report Attachment B to this revised annual report.
 
 Revised Audited Financial Statements of Electronic Corporate Filing Services, as reivised and amended are provided herewith, for the years ended December 31, 2001, 2000 and from inception June 13, 1990, are provided as Attachment FK-02-A and incorporated herein by this reference. Our balance sheet and statement of operations have been selectively reproduced in the preceding Item 6.
 
 Our initial report had reported the acquitiosn in the direct-acquition paradigm. The revisions report the acquistion in the reverse-acquistion paradigm. We belive that this revision is the appropriate and correct method of financial reporting.
 
 ITEM 8. Changes In and Disagreements With Accountants on Accounting and Financial Disclosure.
 
 None. The realization that reverse-merger accounting was apporpriate, and that this amendment was necessary, did not give rise to any disagreement with accountants or auditors. The oversight, once noticed, was not a controversal matter.
 
 
 ITEM 14. Attachments, Financial Statements.
 
 (A) Audit Committe Report
 
 (B) Ceritification pursuant to 18 USC Section 1350 .
 
 (99.1) Certifications Pursuant to Section 302
 
 (FK-02-A) Audited Financial Statements
 for the years ended December 31, 2001, 2000 and Inception.
 
 
 The Remainder of this Page is Intentionally left Blank
  **Page - 6** 
 SIGNATURES
 
 
   Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the individual capacities and on the date indicated.
 
 Dated: July 15, 2003
 
 **Electronic Corporate Filing Services, Inc.**
 
 by
 
 
  /S/Curtis W. Fox
 Curtis W. Fox
 sole officer and director
 
   **Page - 7**
  
 
 
 
 Exhibit A
 
 Audit Committee Report
 
  
 
 **Page - 8**
    Electronic Corporate Filing Services, Inc.
 Form Type: 10-KSB
 
 AUDIT COMMITTEE REPORT
 
 The Audit Committee of is composed of the Corporation's Board of Directors. The members of the Committee are Curtis W. Fox. The Committee recommended, subject to stockholder ratification, the selection of the Corporation's independent accountants.
 
 Management is responsible for the Corporation's internal controls and the financial reporting process. The independent accountants are responsible for performing an independent audit of the Corporation's consolidated financial statements in accordance with the generally accepted auditing standards and to issue a report thereon. The Committee's responsibility is to monitor and oversee these processes.
 
 In this context, the Committee has met and held discussions with management and the independent accountants, the matters relevant to the Amendment and Revision of our financial statements, and the method of accounting. Management represented to the Committee that the Corporation's amended financial statements were prepared in accordance with generally accepted accounting principles, and the Committee has reviewed and discussed the consolidated financial statements with management and the independent accountants. The Committee discussed with the independent accountants matters required to be discussed by the Statement on Auditing Standards No. 61. The Corporation's independent accountants also provided to the Committee the written disclosures required by Independence Standards Board Standard No. 1, and the Committee discussed with the independent accountant that firms independence.
 
 Based upon Committee's discussion with management and the independent accountants and the Committee's review of the representation of management and the report of the independent accountants to the Committee, the Committee recommended that the audited consolidated financial statements be revised and amended and be included in the Corporation's Annual Report on Form 10-KSB-A for the year ended 12/31/02 filed with the Securities and Exchange Commission.
 
 Dated: July 15, 2003.
 /S/Curtis W. Fox
 Curtis W. Fox
 Audit Committee Member
 sole officer and director
  
 **Page - 9**
  
 
 
 
 Exhibit B
 
 
 CERITIFICATION PURSUANT TO 18 USC SECTION 1350
   
  **Page - 10**
  
 
   CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,
 AS ADOPTED PURSUANT TO SECTION 906 OF THE
 SARBANES-OXLEY ACT OF 2002
  
 CERTIFICATION OF CUSTODIAN
  
 In connection with the Annual Report of Electronic Corporate Filing Services, Inc. , a Nevada corporation (the "Company"), on 10-KSB for the year ended December 31, 2002 as filed with the Securities and Exchange Commission (the "Report"), I, Curtis W. Fox, Sole Officer/Director of the Company, certify, pursuant to 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350), that to my knowledge:
  
 (1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
 
 (2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
 
 
 Dated: July 15, 2003.
  /S/Curtis W. Fox
 Curtis W. Fox
 Audit Committee Member
 sole officer and director
  
 
 
 
 **Page - 11**
   
 Exhibit 99.1
 
 Section 302 Certification
  
   **Page - 12**
  
 
   CERTIFICATIONS PURSUANT TO SECTION 302
  I, Curtis W. Fox, certify that:
  1. I have reviewed this Annual report on Form 10-KSB of Electronic Corporate Filing Services, Inc. ;
  2. Based on my knowledge, this Annual report does not contain any untrue statement of a 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 of, and for, the periods presented in this Annual report;
  4. The registrant's other certifying officers and I are 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, is made known to us 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 our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;
  5. The registrant's other certifying officers and I have disclosed, based on our 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. The registrant's other certifying officers and I have indicated in this Annual report whether there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
 
 Dated: July 15, 2003.
 /S/Curtis W. Fox
 Curtis W. Fox
 Audit Committee Member
 sole officer and director
   **Page - 13**
  
  Attachment Attachment FK-02-A
 
 Revised Audited Financial Statements
 
 for the years ended
 
 December 31, 2002, 2001, and
 
 from inception June 13, 1990.
    **Page - 14**
   
 C O N T E N T S
 
 
 
 Independent Auditors Report
 
 Consolidated Balance Sheet
 
 Consolidated Statements of Operations
 
 Consolidated Statements of Stockholders Equity
 
 Consolidated Statements of Cash Flows
 
 Notes to the Financial
  **Page - 15**
 
 
  
 
 
 
 
 
 INDEPENDENT AUDITORS REPORT
 
 
 
 To the Board of Directors and Stockholders of
 Electronic Corporate Filing Services, Inc.
 
 We have audited the accompanying consolidated balance sheet of Electronic Corporate Filing Services, Inc. (a Development Stage Company) as of December 31, 2002 and the related consolidated statements of operations, stockholders equity and cash flows for the year then ended and from inception on June 13, 1990 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 audits 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 consolidated financial statements referred to above present fairly, in all material respects, the financial position of Electronic Corporate Filing Services, Inc. (a Development Stage Company) as of December 31, 2002 and the results of its operations and cash flows for the year then ended and from inception on June 13, 1990 through December 31, 2002 in conformity with accounting principles generally accepted in the United States of America.
 
 The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2, the Companys recurring operating losses and lack of working capital raise substantial doubt about its ability to continue as a going concern. Managements plans in regard to those matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.
 
 
 
 Chisholm & Associates
 North Salt Lake, Utah
 March 25, 2003
 
 
 **Page - 16**
  
  Electronic Corporate Filing Services, Inc.
 (and Subsidiary)
 (A Development Stage Company)
 Consolidated Balance Sheet
   December 31,
********
****
****
2002**ASSETS**CURRENT ASSETSCash

$
2,176Total Current Assets


2,176TOTAL ASSETS
****
$
2,176**LIABILITIES AND STOCKHOLDERS EQUITY**CURRENT LIABILITIESAccounts payable

$
27,626Accounts payable - related party


54,660Total Current Liabilities


82,286STOCKHOLDERS EQUITYCommon stock, authorized100,000,000 shares of $0.001 par value,issued and outstanding 10,054,000 shares


10,054Discount on Stock


(75,901
)Deficit accumulated during the development stage


(14,263
)Total Stockholders Equity


(80,110
)TOTAL LIABILITIES AND STOCKHOLDERS EQUITY

$
2,176
 
    **Page - 17**
   Electronic Corporate Filing Services, Inc.
 (and Subsidiary)
 (a Development Stage Company)
 Consolidated Statements of Operations
   FromInception onApril 24,For the Years Ended

2001 ThroughDecember 31,

December 31,2002


2001


2002REVENUE

$
150,155

$
12,602

$
162,757EXPENSESOrganization Costs


-


5,000


5,000General and administrative


162,881


9,139


172,020Total Expenses


162,881


14,944


177,020NET LOSS

$
(12,726
)
$
(1,537
)
$
(14,263
)NET LOSS PER SHARE

$
(0.00
)
$
(0.00
)
$
(0.00
)WEIGHTED AVERAGE SHARESOUTSTANDING


9,942,932


6,000,000


8,336,315
 
  
 **Page - 18**
     Electronic Corporate Filing Services, Inc.
 (and Subsidiary)
 (a Development Stage Company)
 Consolidated Statement of Stockholders Equity
   DeficitAccumulatedDuring theCommon Stock

Discount


DevelopmentShares


Amount


On Stock


StageBalance at inception April 24, 2001


-

$
-

$
-

$
-Stock issued for organization costs


6,000,000


6,000


(1,000
)

-Net loss for the year endedDecember 31, 2001


-


-


-


(1,537
)Balance, December 31, 2001


6,000,000


6,000


(1,000
)

(1,537
)Reverse acquisition adjustment


4,054,000


4,054


(74,901
)

-Net loss for the year endedDecember 31, 2002


-


-


-


(12,726
)Balance, December 31, 2002


10,054,000

$
10,054

$
(75,901
)
$
(14,263
)
   
  **Page - 19**
    Electronic Corporate Filing Services, Inc.
 (and Subsidiary)
 (a Development Stage Company)
 Consolidated Statements of Cash Flows
   FromInception onApril, 24For the Years Ended

2001 ThroughDecember 31,

December 31,2002


2001


2002CASH FLOWS FROM OPERATINGACTIVITIESNet loss

$
(12,726
)
$
(1,537
)
$
(14,263
)Adjustments to reconcile net loss to netcash used by operations:(Net of acquisition)Stock issued for services


-


5,000


5,000Accounts payable


11,439


-


11,439Accounts payable - related party


-


-


-Net Cash Used by Operating Activities


(1,287
)

3,463


2,176CASH FLOWS FROM INVESTMENTACTIVITIESNet cash Provided by InvestingActivities


-


-


-CASH FLOWS FROM FINANCINGACTIVITIESIssued common stock for cash


-


-


-Net Cash Provided by FinancingActivities


-


-


-NET INCREASE IN CASH


(1,287
)

3,463


2,176CASH, BEGINNING OF PERIOD


3,463


-


-CASH, END OF PERIOD

$
2,176

$
3,463

$
2,176
   
  **Page - 20**
  
  Electronic Corporate Filing Services, Inc.
 (and Subsidiary)
 (a Development Stage Company)
 Notes to the Consolidated Financial Statements
 December 31, 2002
 
 NOTE 1 -  Summary of Significant Accounting Policies
 
 a. Organization
 
 NNN Huntor Associates Inc. (the Company) was incorporated on June 13, 1990 under the laws of the state of Nevada. On January 24, 2000, the shareholders of the Company approved a name change to Mayscom, Inc. and approved a 1:40 common stock split. As a result, the 200,000 issued and outstanding shares of common stock were converted to 8,000,000 shares of common. The financial statements and notes have been restated to reflect this split as if it had occurred from inception.
 
 On January 10, 2002 the Company acquired all of the capital stock of EdgarCFS, Inc. in exchange for 6,000,000 shares of Mayscom, Inc. The merger was treated as a reverse merger with Edgar CFS, Inc. being the accounting acquirer, therefore, all historical financial information prior to the acquisition date is that of Edgar CFS, Inc. Pursuant to the merger, the company changed their name from Mayscom, Inc. to Electronic Corporate Filing Services, Inc. Net Deficit acquired from the acquisition amounted to $70,847. The Company has had limited operations in the form of Edgar filing services and is in the development stage according to Financial Accounting Standards Board Statement No. 7.
 
 b. Accounting Method
 
 The Company recognizes income and expense on the accrual basis of accounting.
 
 c. Loss Per Share
 
 The computation of loss per share of common stock is based on the weighted average number of shares outstanding at the date of the financial statements.
   FromInception onApril 24,For the Years Ended

2001 ThroughDecember 31,

December 31,2002


2001


2002Numerator - loss

$
(12,726
)
$
(1,537
)
$
(14,263
)Denominator - weighted averageof shares outstanding


9,942,932


6,000,000


8,336,315Loss per share

$
(0.00
)
$
(0.00
)
$
(0.00
)
    **Page - 21**
  
 
 
 Electronic Corporate Filing Services, Inc.
 (and Subsidiary)
 (A Development Stage Company)
 Notes to the Consolidated Financial Statements
 December 31, 2002
 
 NOTE 1 -  Summary of Significant Accounting Policies (Continued)
 
 d. Cash and Cash Equivalents
 
 The Company considers all highly liquid investments with maturities of three months or less to be cash equivalents.
 
 e. Provision for Income Taxes
 
 No provision for income taxes has been recorded due to net operating loss carry forwards totaling approximately $14,263 that will be offset against future taxable income. These NOL carry forwards begin to expire in the year 2011. No tax benefit has been reported in the financial statements because the Company believes there is a 50% or greater chance the carry forward will expire unused.
 
 Deferred tax assets and the valuation account is as follows at December 31, 2002.
 
 Deferred tax asset:
  NOL carry forward

$
4,849Valuation allowance


(4,849
)Total

$
-
     
 f. Use of Estimates in the Preparation of Financial Statements
 
 The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and expenses during the reporting period. In these financial statements, assets, liabilities and expenses involve extensive reliance on managements estimates. Actual results could differ from those estimates.
 
 g. Principles of Consolidation
 
 For the year ended December 31, 2002, the consolidated financial statements include the books and records of Electronic Corporate Filing Services, Inc., and Edgar CFS, Inc. All inter-company transactions and accounts have been eliminated in the consolidation.
 
 
 **Page - 22**
   Electronic Corporate Filing Services, Inc.
 (and Subsidiary)
 (A Development Stage Company)
 Notes to the Consolidated Financial Statements
 December 31, 2002
 
 NOTE 2 -  Going Concern
 
 The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company has had recurring operating loss and is dependent upon financing to continue operations. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. It is managements plan to expand its operations and customer base in edgar filing services to generate the necessary revenue.
 
 
 NOTE 3 -  Development Stage Company
 
 The Company is a development stage company as defined in Financial accounting Standards Board Statement No. 7. It is concentrating substantially all of its efforts in raising capital and defining its business operation in order to generate significant revenues.
 
 NOTE 4 -  Related Party Transactions
 
 During the year, the Company incurred $15,987 in accounting and other professional fees to Intrepid International, a shareholder. The total amount owed to this shareholder for these services at December 31, 2002 is $54,660.
 
 NOTE 5 -  Equity
 
 During January 2002, the Company acquired Edgar CFS, Inc., in a reverse acquisition method of a business combination. The Company issued 6,000,000 shares of common stock in the acquisition, however due to the reverse acquisition accounting, the issuance is treated as a stock split retroactive to inception. The reverse acquisition adjustment of 4,054,000 consists of the minority shareholders of Mayscom, Inc. prior to the merger. The Net Deficit of Mayscom, Inc. at acquisition was $70,847, and was rolled into discount on stock as part of the reverse acquisition adjustment.
 
 
 
  **Page - 23**