BCA REMITTANCE LIMITED

                                  EXHIBIT 10.3

   Financial Statements of Northwest Bio-Technic Inc. and Huifeng Biochemistry
                              Joint Stock Company.


                         .1 NORTHWEST BIO-TECHNIC INC.
                               .2 AND SUBSIDIARY
                            .3 FINANCIAL STATEMENTS
               .4 AS OF DECEMBER 31, 2004 (CONSOLIDATED) AND 2003


                                       1
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BCA REMITTANCE LIMITED

                  .5 NORTHWEST BIO-TECHNIC INC. AND SUBSIDIARY
                                       .6
                                  .7 CONTENTS

                                                                           Pages
--------------------------------------------------------------------------------

Report of Independent Registered Public Accounting Firm                      3
--------------------------------------------------------------------------------

Balance Sheets as of December 31, 2004 (Consolidated) and 2003               5
--------------------------------------------------------------------------------

Statements of Operations and Comprehensive income (loss) for the
years ended December 31, 2004 (Consolidated) and 2003                        6
--------------------------------------------------------------------------------

Statements of Stockholders' Equity for the years ended
December 31, 2004 (Consolidated) and 2003                                    7
--------------------------------------------------------------------------------

Statements of Cash Flows for the years ended December 31, 2004
(Consolidated) and 2003                                                      8
--------------------------------------------------------------------------------

Notes to Consolidated Financial Statements                               9 - 15
--------------------------------------------------------------------------------


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BCA REMITTANCE LIMITED

[LOGO] Jimmy C.H. Cheung & Co

Certified Public Accountants
(A member of Kreston International)


..8    REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To the Board of Directors of:

Northwest Bio-Technic Inc. and Subsidiary


We have audited the accompanying balance sheets of Northwest Bio-Technic Inc.
and subsidiary as of December 31, 2004 (consolidated) and 2003 and the related
statements of operations and comprehensive income (loss), changes in
stockholders' equity and cash flows for the years ended December 31, 2004
(consolidated) and 2003. These financial statements are the responsibility of
the Company's management. Our responsibility is to express an opinion on these
financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits of the financial
statements 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 Northwest Bio-Technic Inc. and
subsidiary, as of December 31, 2004 (consolidated) and 2003, and the results of
its operations and its cash flows for the years ended December 31, 2004
(consolidated) and 2003, in conformity with accounting principles generally
accepted in the United States of America.


JIMMY C.H. CHEUNG & CO

Certified Public Accountants


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BCA REMITTANCE LIMITED
Hong Kong

Date: January 29, 2005

..9



         304 Dominion Centre, 43 Queen's Road East, Wanchai, Hong Kong    [LOGO]
 Tel: (852) 25295500 Fax: (852) 28651067 Email: jchc@krestoninternational.com.hk
                      Website: http://www.jimmycheungco.com


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BCA REMITTANCE LIMITED

                 .10 NORTHWEST BIO-TECHNIC INC. AND SUBSIDIARY
                               .11 BALANCE SHEETS
                 AS OF DECEMBER 31, 2004 (CONSOLIDATED) AND 2003

<TABLE>
<CAPTION>
                                     ASSETS
                                                                                  2004
                                                                         (Consolidated)           2003
                                                                          ------------    ------------
<S>                                                                       <C>             <C>
CURRENT ASSETS
    Cash and cash equivalents                                             $    167,511    $     95,803
    Accounts receivable, net of allowances                                     104,144         226,167
    Inventories                                                              1,302,025         897,006
    Note receivable                                                                 --         506,774
    Due from stockholders                                                       62,493         632,210
    Other receivables                                                          335,058          98,138
                                                                          ------------    ------------
        Total Current Assets                                                 1,971,231       2,456,098

PROPERTY AND EQUIPMENT, NET                                                    879,503         667,843

OTHER ASSETS
    Investment in affiliate                                                     31,190              --
    Land use rights, net                                                       133,974              --
                                                                          ------------    ------------
TOTAL ASSETS                                                              $  3,015,898    $  3,123,941
                                                                          ============    ============

                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
    Accounts payable                                                      $     56,454    $     49,260
    Other payables and accrued expenses                                        125,191          43,957
    Value added tax payables                                                    12,323              --
    Income tax and other tax payables                                            6,684              98
    Notes payable                                                                   --         241,642
    Due to stockholders                                                        193,433           9,079
                                                                          ------------    ------------
        Total Current Liabilities                                              394,085         344,036
                                                                          ------------    ------------

COMMITMENTS AND CONTINGENCIES                                                       --              --

MINORITY INTEREST                                                               58,915          67,277
                                                                          ------------    ------------

STOCKHOLDERS' EQUITY
    $0.10 par value, 500,000 shares authorized, 500,000 shares issued
        and outstanding                                                         50,000          50,000
    Additional paid-in capital                                               4,526,996       4,476,996
    Retained earnings (deficit)
      Unappropriated                                                        (2,021,348)     (1,814,451)
      Appropriated                                                               7,250              83
                                                                          ------------    ------------
        Total Stockholders' Equity                                           2,562,898       2,712,628
                                                                          ------------    ------------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                $  3,015,898    $  3,123,941
                                                                          ============    ============
</TABLE>

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


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BCA REMITTANCE LIMITED

                 .13 NORTHWEST BIO-TECHNIC INC. AND SUBSIDIARY
            STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
          FOR THE YEARS ENDED DECEMBER 31, 2004 (CONSOLIDATED) AND 2003

<TABLE>
<CAPTION>
                                                                        2004
                                                                (Consolidated)           2003
                                                                 ------------    ------------
<S>                                                              <C>             <C>
NET SALES                                                        $  2,478,763    $    715,859

COST OF SALES                                                      (2,235,189)       (683,430)
                                                                 ------------    ------------

GROSS PROFIT                                                          243,574          32,429
                                                                 ------------    ------------

OPERATING EXPENSES
    Selling expenses and distribution expenses                         41,569          49,833
    General and administrative expenses                               395,342          41,729
    Depreciation and amortization                                       9,012           5,543
                                                                 ------------    ------------
           Total Operating Expenses                                   445,923          97,105
                                                                 ------------    ------------

LOSS FROM OPERATIONS                                                 (202,349)        (64,676)

OTHER INCOME (EXPENSES)
    Equity in loss of affiliate                                          (211)             --
    Interest income, net                                                1,260          51,762
    Other income, net                                                     711             272
                                                                 ------------    ------------
           Total Other Income                                           1,760          52,034

                                                                 ------------    ------------
LOSS FROM OPERATIONS BEFORE TAXES AND MINORITY INTEREST              (200,589)        (12,642)

INCOME TAX EXPENSE                                                     (7,503)             --

MINORITY INTEREST                                                       8,362           6,606
                                                                 ------------    ------------

NET LOSS                                                             (199,730)         (6,036)

OTHER COMPREHENSIVE  LOSS
    Foreign currency translation loss                                      --              --
                                                                 ------------    ------------

COMPREHENSIVE LOSS                                               $   (199,730)   $     (6,036)
                                                                 ============    ============

Net loss share-basic and diluted                                 $      (0.40)   $      (0.01)
                                                                 ============    ============

Weighted average number of shares outstanding during the year-
    basis and diluted                                                 500,000         500,000
                                                                 ============    ============
</TABLE>

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


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BCA REMITTANCE LIMITED

                    NORTHWEST BIO-TECHNIC INC. AND SUBSIDIARY
                       STATEMENTS OF STOCKHOLDERS' EQUITY
          FOR THE YEARS ENDED DECEMBER 31, 2004 (CONSOLIDATED) AND 2003

<TABLE>
<CAPTION>
                                                                           Additional Unappropriated    Appropriated
                                                 Common                       paid in       retained        retained
                                                  stock         Amount        capital        deficit        earnings          Total
                                           ------------   ------------   ------------   ------------    ------------   ------------
<S>                                        <C>            <C>            <C>            <C>             <C>            <C>
Stock issued to founders for cash               500,000   $     50,000   $  4,476,996   $         --    $              $  4,526,996

Balance brought forward from 2002                                   --             --     (1,808,415)             83     (1,808,332)

Net loss for the year                                               --             --         (6,036)             --         (6,036)
                                           ------------   ------------   ------------   ------------    ------------   ------------

Balance at December 31, 2003                    500,000         50,000      4,476,996     (1,814,451)             83      2,712,628

Contribution by the stockholders                                               50,000             --              --         50,000
Net loss for the year                                               --             --       (199,730)             --       (199,730)

Transfer from retained earnings to
    statutory and staff welfare reserves                            --             --         (7,167)          7,167             --
                                           ------------   ------------   ------------   ------------    ------------   ------------
Balance at December 31, 2004
(consolidated)                                  500,000   $     50,000   $  4,526,996   $ (2,021,348)   $      7,250   $  2,562,898
                                           ============   ============   ============   ============    ============   ============
</TABLE>

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


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BCC REMITTANCE LIMITED

                    NORTHWEST BIO-TECHNIC INC. AND SUBSIDIARY
                            STATEMENTS OF CASH FLOWS
          FOR THE YEARS ENDED DECEMBER 31, 2004 (CONSOLIDATED) AND 2003

<TABLE>
<CAPTION>
                                                                                  2004
                                                                         (Consolidated)           2003
                                                                          ------------    ------------
<S>                                                                       <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES
    Net loss                                                              $   (199,730)   $     (6,036)
    Adjusted to reconcile net loss to cash provided
       by (used in) operating activities:
       Depreciation and amortization - cost of sales                            85,085          66,642
       Depreciation and amortization                                             9,012           5,543
       Equity in loss of affiliate                                                 211              --
       Minority interest                                                        (8,362)         (6,606)
    Changes in operating assets and liabilities (Increase) decrease in:
       Accounts receivable                                                     122,023        (178,863)
       Inventories                                                            (405,019)        319,450
       Other receivables                                                      (236,920)        (69,131)
       Increase (decrease) in:
       Accounts payable                                                          7,194         (15,876)
       Other payables and accrued expenses                                      81,234         (24,423)
       Value added tax payables                                                 12,323              --
       Income tax and other taxes payable                                        6,586              --
                                                                          ------------    ------------
       Net cash (used in) provided by operating activities                    (526,363)         90,700
                                                                          ------------    ------------

CASH FLOWS FROM INVESTING ACTIVITIES
    Decrease in note receivable                                                506,774              --
    Purchase of property and equipment                                        (305,070)        (19,134)
    Investment in affiliate                                                    (31,401)             --
    Land use rights                                                           (134,661)             --
                                                                          ------------    ------------
       Net cash provided by (used in) investing activities                      35,642         (19,134)
                                                                          ------------    ------------

CASH FLOWS FROM FINANCING ACTIVITIES
    Proceeds from issuance of common stocks                                     50,000              --
    Due from stockholders                                                      569,717        (133,421)
    Decrease (increase) in note payable                                       (241,642)         59,806
    Due to stockholders                                                        184,354         (99,317)
                                                                          ------------    ------------
       Net cash provided by (used in) financing activities                     562,429        (172,932)
                                                                          ------------    ------------

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                            71,708        (101,366)

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR                                  95,803         197,169
                                                                          ------------    ------------

CASH AND CASH EQUIVALENTS AT END OF YEAR                                  $    167,511    $     95,803
                                                                          ============    ============

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

Cash paid during the year for:
    Income taxes                                                          $     (7,503)   $         --
                                                                          ============    ============

    Interest expenses                                                     $         --    $     (2,152)
                                                                          ============    ============
</TABLE>

    The accompanying notes are an integral part of these financial statements


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BCC REMITTANCE LIMITED

                        NOTES TO THE FINANCIAL STATEMENTS
                 AS OF DECEMBER 31, 2004 (CONSOLIDATED) AND 2003

1.    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION

      (A)   Organization

            Northwest Bio-Technic Inc. ("Northwest") was incorporated in the
            British Virgin Islands ("BVI") on June 25, 2004. Xian Huifeng
            Biochemistry Joint-Stock Company Limited ("Huifeng Biochemistry")
            was incorporated in the People's Republic of China ("PRC") on
            January 20, 2000 as a company with limited liabilities and was
            restructured as a joint stock company on September 29, 2002 under
            the laws of the PRC.

            Huifeng Biochemistry produces plant extracts and bio-chemical
            products used as pharmaceutical raw materials in the PRC. Most of
            its products are distributed within the PRC and some European
            countries.

            On August 23, 2001, Huifeng Biochemistry established a 70% owned
            subsidiary, Xian Huifeng Biochemistry Engineering Company Limited
            ("Huifeng Engineering") in the PRC with a registered capital of
            $265,778. The subsidiary has no operations since its incorporation.

            On June 16, 2004 Huifeng Biochemistry acquired an 86.7% interest in
            Baoji Jinsen Pharmaceutical Company Limited, later renamed to Xian
            Huifeng Pharmaceutical Company Limited ("Huifeng Pharmaceutical"), a
            limited liability company in the PRC. On November 10, 2004 Huifeng
            Pharmaceutical increased its registered capital from $181,159 to
            $603,865. The increased registered capital was fully subscribed by a
            stockholder of the Company, diluting the Company's interest in
            Huifeng Pharmaceutical from 86.7% to 26%.

            During 2004, Huifeng Biochemistry's shareholders exchanged 100% of
            their ownership of Huifeng Biochemistry for 500,000 shares of
            Northwest Bio-Technic Inc. under a reorganization plan. The transfer
            has been accounted for as a reorganization of entities under common
            control as the companies were beneficially owned by principally
            identical shareholders and share common management. The financial
            statements have been prepared as if the reorganization had occurred
            retroactively. Northwest, Huifeng Biochemistry and Huifeng
            Engineering are hereafter referred to as (the "Company").

            On December 20, 2004 two stockholders of the Company acquired
            7,229,601 shares in Secured Data Inc. a US listed corporation
            ("Secured Data") for $300,000. On the same date, the Company's
            stockholders also entered into a Plan of Reorganization with Secured
            Data to exchange 30% of their outstanding shares for 80,735,590
            shares of Secured Data. In addition, the Agreement calls for Secured
            Data to issue a Convertible Promissory Note for $1,900,000 that is
            convertible into 10,465,725 (post a one for eighteen reverse split)
            shares of Secured Data for the remaining 70% of the Company. As of
            January 29, 2005, the Convertible Note has not been exercised.

      (B)   Use of estimates

            The preparation of the financial statements in conformity with
            generally accepted accounting principles requires management to make
            estimates and assumptions that affect the reported amount 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.

      (C)   Principles of consolidation

            The accompanying 2004 consolidated financial statements include the
            accounts of Northwest and its 100% owned subsidiary Huifeng
            Biochemistry, 70% owned subsidiary Huifeng Engineering and 86.7%
            owned subsidiary Huifeng Pharmaceutical from the date of its
            acquisition on June 16, 2004 to the date of its dilution in November
            10, 2004. The Company accounts for its investment in Huifeng
            Pharmaceutical from November 11, 2004 to December 31, 2004 under the
            equity method of accounting. The accompanying 2003 financial
            statements include the accounts of Huifeng Biochemistry and its 70%
            owned subsidiary Huifeng Engineering. Minority interest represents
            the minority shareholders' proportionate share of Huifeng
            Engineering and Huifeng Pharmaceutical. All significant
            inter-company balances and transactions have been eliminated in
            consolidation.


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BCC REMITTANCE LIMITED

                    NORTHWEST BIO-TECHNIC INC. AND SUBSIDIARY
                        NOTES TO THE FINANCIAL STATEMENTS
                 AS OF DECEMBER 31, 2004 (CONSOLIDATED) AND 2003

1.    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION (CONTINUED)

      (D)   Cash and cash equivalents

            For purpose of the statements of cash flows, cash and cash
            equivalents include cash on hand and demand deposits with a bank
            with a maturity of less than three months.

      (E)   Accounts receivable

            The Company extends unsecured credit to its customers in the
            ordinary course of business but mitigates the associated risks by
            performing credit checks and actively pursuing past due accounts. An
            allowance for doubtful accounts is established and recorded based on
            managements' assessment of the credit history with the customer and
            current relationships with them. As of December 31, 2004 and 2003,
            the Company considers all its accounts receivable to be collectable
            and no provision for doubtful accounts has been made in the
            financial statements.

      (F)   Inventories

            Inventories are stated at the lower of cost or market value, cost
            being determined on a first in, first out method. The Company
            provides for inventory allowances based on excess and obsolete
            inventories determined principally by customer demand.

      (G)   Property and equipment

            Property and equipment are stated at cost, less accumulated
            depreciation. Expenditures for additions, major renewals and
            betterments are capitalized and expenditures for maintenance and
            repairs are charged to expense as incurred.

            Depreciation is provided on a straight-line basis, less estimated
            residual value over the assets' estimated useful lives. The
            estimated useful lives are as follows:

            Plant and machinery                10 Years

            Motor vehicles                     10 Years

            Furniture, fixtures and equipment   5 Years

            Land use rights are stated at cost, less accumulated amortization.
            The land use rights are amortised over the term of the relevant
            rights of 50 years from the date of acquisition.


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BCC REMITTANCE LIMITED

      (H)   Long-lived assets

            In accordance with Statement of Financial Accounting Standards No.
            121, "Accounting for the impairment of Long-Lived Assets and for
            Long-Lived Assets to be Disposed of", long-lived assets and certain
            identifiable intangible assets held and used by the Company are
            reviewed for impairment whenever events or changes in circumstances
            indicate that the carrying amount of an asset may not be
            recoverable. For purposes of evaluating the recoverability of
            long-lived assets, the recoverability test is performed using
            undiscounted net cash flows related to the long- lived assets. The
            Company reviews long-lived assets to determine that carrying values
            are not impaired.

      (I)   Fair value of financial instruments

            Statement of Financial Accounting Standards No. 107, "Disclosure
            About Fair Value of Financial Instruments," requires certain
            disclosures regarding the fair value of financial instruments. Trade
            accounts receivable, accounts payable, and accrued liabilities are
            reflected in the financial statements at fair value because of the
            short-term maturity of the instruments.

      (J)   Revenue recognition

            The Company recognizes revenue upon delivery or shipment of the
            products, at which time title passes to the customer provided that:
            there are no uncertainties regarding customer acceptance; persuasive
            evidence of an arrangement exists; the sales price is fixed or
            determinable; and collectability is deemed probable.


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BCC REMITTANCE LIMITED

                    NORTHWEST BIO-TECHNIC INC. AND SUBSIDIARY
                        NOTES TO THE FINANCIAL STATEMENTS
                 AS OF DECEMBER 31, 2004 (CONSOLIDATED) AND 2003

1.    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION (CONTINUED)

      (K)   Income taxes

            PRC income tax is computed according to the relevant laws and
            regulations in the PRC. The Company being registered as a new and
            high technology enterprise is entitled to an income tax reduction.
            According to the document of reductions approved by the local tax
            bureau, the income tax rate was reduced from 33% to 15%. The income
            tax expenses for 2004 and 2003 were $7,503 and $0 respectively.

      (L)   Foreign currency translation

            The functional currency of the Company is the Chinese Renminbi
            ("RMB"). Transactions denominated in currencies other than RMB are
            translated into United States dollars using year end exchange rates
            as to assets and liabilities and average exchange rates as to
            revenues and expenses. Capital accounts are translated at their
            historical exchange rates when the capital transaction occurred. Net
            gains and losses resulting from foreign exchange translations are
            included in the statements of operations and stockholder's equity as
            other comprehensive income (loss). Cumulative translation adjustment
            amounts were insignificant at and for the years ended December 31,
            2004 and 2003.

      (M)   Comprehensive income (loss)

            The foreign currency translation gain or loss resulting from
            translation of the financial statements expressed in RMB to United
            States Dollar is reported as other comprehensive income (loss) in
            the statements of operations and stockholders' equity. Cumulative
            translation adjustment amounts were insignificant at and for the
            years ended December 31, 2004 and 2003.

      (N)   Loss per share

            Basic loss per share is computed by dividing loss available to
            common shareholders by the weighted average number of common shares
            outstanding during the period. Diluted income per share is computed
            similar to basic loss per share except that the denominator is
            increased to include the number of additional common shares that
            would have been outstanding if the potential common shares had been
            issued and if the additional common shares were dilutive. There are
            no potentially dilutive securities for 2004 and 2003.

      (O)   Segments

            The Company operates in only one segment, thereafter segment
            disclosure is not presented.

2.    ACCOUNTS RECEIVABLE

      Accounts receivable at December 31, 2004 and 2003 consisted of the
      following:

                                                      2004           2003
                                              ------------   ------------

      Accounts receivable                     $    104,144        226,167
      Less: allowance for doubtful accounts             --             --
                                              ------------   ------------
      Accounts receivable, net                $    104,144   $    226,167
                                              ============   ============

      As of December 31, 2004, the Company considered all accounts receivable
      collectable and has not recorded a provision for doubtful accounts.


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BCC REMITTANCE LIMITED

                    NORTHWEST BIO-TECHNIC INC. AND SUBSIDIARY
                        NOTES TO THE FINANCIAL STATEMENTS
                 AS OF DECEMBER 31, 2004 (CONSOLIDATED) AND 2003

3.    INVENTORIES

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

                                                2004           2003
                                        ------------   ------------

      Raw materials                     $  1,047,780   $    244,065
      Work-in-progress                        11,917        377,946
      Finished goods                         242,327        274,995
                                        ------------   ------------
                                           1,302,025        897,006
      Less: provision of obsolescence             --             --
                                        ------------   ------------
                                        $  1,302,025   $    897,006
                                        ============   ============

      For both of the years ended December 31, 2004 and 2003, the Company did
      not have any obsolete inventories.

4.    PROPERTY AND EQUIPMENT

      The following is a summary of property and equipment at December 31:

                                               2004           2003
                                       ------------   ------------

      Plant and machinery              $    769,476   $    806,845
      Motor vehicles                         87,262         37,304
      Furniture and office equipment         20,251         13,808
      Construction in progress              286,038             --
                                       ------------   ------------
                                          1,163,027        857,957
      Less: accumulated depreciation        283,525        190,114
                                       ------------   ------------
      Property and equipment, net      $    879,503   $    667,843
                                       ============   ============

      Depreciation expenses for the years ended December 31, 2004 and 2003 were
      $93,411 and $72,185 respectively.

5.    INVESTMENT IN AFFILIATE

      On June 16, 2004, the Company acquired an 86.7% interest in Baoji Jinsen
      Pharmaceutical Company Limited, later renamed to Xian Huifeng
      Pharmaceutical Company Limited ("Huifeng Pharmaceutical"), which owns
      licenses to manufacture two pharmaceutical products in the PRC. The
      balance of 13.3% is held by a stockholder of the Company. On November 10,
      2004 Huifeng Pharmaceutical increased its registered capital from $181,159
      to $603,865. The increased registered capital was fully subscribed by a
      stockholder of the Company, diluting the Company's interest in Huifeng
      Pharmaceutical from 86.7% to 26%.

      A summary of the unaudited financial statements of the affiliate as of
      December 31, 2004 is as follows:

      Current assets                                         $    425,641
      Non-current assets                                            1,085
                                                             ------------
      Total assets                                                426,727
                                                             ============
      Current liabilities                                           4,831
      Stockholders' equity                                        421,896
                                                             ------------
      Total liabilities and stockholders' equity             $    426,727
                                                             ============
      Revenue                                                $         --
                                                             ============
      Net loss from November 11, 2004 to December 31, 2004           (810)
                                                             ============
      The Company's share of the loss for 2004 :
      Company share at 26% and equity in loss of affiliate   $       (211)
                                                             ============


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<PAGE>

BCC REMITTANCE LIMITED

                    NORTHWEST BIO-TECHNIC INC. AND SUBSIDIARY
                        NOTES TO THE FINANCIAL STATEMENTS
                 AS OF DECEMBER 31, 2004 (CONSOLIDATED) AND 2003

6.    OTHER PAYABLES AND ACCRUED EXPENSES

      Other payables and accrued liabilities at December 31, 2004 consolidated
      and 2003 consist of the following:

                                               2004         2003
                                         ----------   ----------

      Other payables                     $   24,640   $   30,556
      Accrued expenses                       93,599        9,483
      Deposits received from customers        6,952        3,918
                                         ==========   ==========
                                         $  125,191   $   43,957
                                         ==========   ==========

7.    COMMITMENTS AND CONTINGENCIES

      (A)   Employee benefits

      The full time employees of the Company are entitled to employee benefits
      including medical care, welfare subsidies, unemployment insurance and
      pension benefits through a Chinese government mandated multi-employer
      defined contribution plan. The Company is required to accrue for those
      benefits based on certain percentages of the employees' salaries and make
      contributions to the plans out of the amounts accrued for medical and
      pension benefits. The total provision and contributions made for such
      employee benefits was $3,607 and $4,508 for the years ended December 31,
      2004 and 2003, respectively. The Chinese government is responsible for the
      medical benefits and the pension liability to be paid to these employees.

      (B)   Commitments

      The Company occupies office space from a third party under an operating
      lease which expires on March 2006 at a quarterly rental of $3,080.
      Accordingly, for the years ended December 31, 2004 and 2003, the Company
      recognized rental expense for these spaces in the amount of $12,319 and
      $12,319, respectively.

      As of December 31, 2004, the Company has outstanding commitments with
      respect to non-cancelable operating leases, which are due as follows:

       2005               $     12,319
       2006                      3,080
                          ------------
                          $     15,399
                          ============

8.    SHAREHOLDERS' EQUITY

      (A)   Stock issuances

      During 2004, the Company issued 500,000 shares of common stock to founders
      for cash of $50,000.

      (B)   Appropriated retained earnings

      The Company is required to make appropriations to reserves funds,
      comprising the statutory surplus reserve, statutory public welfare fund
      and discretionary surplus reserve, based on after-tax net income
      determined in accordance with generally accepted accounting principles of
      the People's Republic of China (the "PRC GAAP"). Appropriation to the
      statutory surplus reserve should be at least 10% of the after tax net
      income determined in accordance with the PRC GAAP until the reserve is
      equal to 50% of the entities' registered capital. Appropriations to the
      statutory public welfare fund are at 5% to 10% of the after tax net income
      determined in accordance with the PRC GAAP. The statutory public welfare
      fund is established for the purpose of providing employee facilities and
      other collective benefits to the employees and is non-distributable other
      than in liquidation. Appropriations to the discretionary surplus reserve
      are made at the discretion of the Board of Directors.

      During 2004 and 2003, the Company appropriated $7,167 and $83,
      respectively to the reserves funds based on its net income under PRC GAAP.


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<PAGE>

BCA REMITTANCE LIMITED

                    NORTHWEST BIO-TECHNIC INC. AND SUBSIDIARY
                        NOTES TO THE FINANCIAL STATEMENTS
                 AS OF DECEMBER 31, 2004 (CONSOLIDATED) AND 2003

9.    RELATED PARTY TRANSACTIONS

      The Company had advanced funds totaling $62,493 and $632,210 to
      stockholders as of December 31, 2004 and 2003 respectively as short-term,
      unsecured loans free of interest payment.

      Stockholders had also advanced funds totaling $193,433 and $9,079 to the
      Company as of December 31, 2004 and 2003 respectively as short-term,
      unsecured loans free of interest payment.

      See Note 1 (A) for transactions with Secured Data.

10.   CONCENTRATIONS AND RISKS

      During 2004 and 2003, 100% of the Company's assets were located in China
      and 90% of the Company's revenues were derived from companies located in
      China.

      The Company relied on two customers for approximately $790,217 and
      $802,324 respectively representing in aggregate 63% of sales for the year
      ended December 31, 2004, and three customers for approximately $78,865,
      $129,710 and 170,870 respectively representing in aggregate 58% of sales
      for the year ended December 31, 2003. At December 31, 2004 and 2003,
      accounts receivable from those customers totaled $32,119 and $149,814
      respectively.

      The Company also relied on four suppliers for approximately $443,718,
      $269,547, $288,832 and $339,895 respectively representing in aggregate 62%
      of purchases for the year ended December 31, 2004, and three suppliers for
      approximately $107,789, $146,781 and $148,827 respectively representing in
      aggregate 72% of purchases for the year ended December 31, 2003. At
      December 31, 2004 and 2003, accounts payable to those two suppliers
      totaled $1,182 and $41,472 respectively.


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