| NewJersey                                                     | 13-3901466                          |
|---------------------------------------------------------------|-------------------------------------|
| (State orother jurisdiction of incorporation or organization) | (I.R.S.Employer Identification No.) |
| 148 CentralAvenue, Old Tappan, NJ                             | 07675                               |
| (Address ofprincipal executive offices)                       | (ZipCode)                           |

|                                                           |                             |                                              |            |                                       |                                                       |                                       | **9/30/02**                                                         |             | **12/31/01** |
|-----------------------------------------------------------|-----------------------------|----------------------------------------------|------------|---------------------------------------|-------------------------------------------------------|---------------------------------------|---------------------------------------------------------------------|-------------|--------------|
| **ASSETS**                                                |                             |                                              |            |                                       |                                                       |                                       |                                                                     |             |              |
|                                                           |                             |                                              |            |                                       |                                                       |                                       |                                                                     |             |              |
| Current assets:                                           |                             |                                              |            |                                       |                                                       |                                       |                                                                     |             |
| Cash                                                      |                             |                                              |            |                                       |                                                       | $19,990                               |                                                                     | $51,525     |
|                                                           |                             |                                              |            |                                       |                                                       |                                       |                                                                     |             |              |
| Total Current Assets                                      |                             |                                              |            |                                       | 19,990                                                |                                       | 51,525                                                              |
|                                                           |                             |                                              |            |                                       |                                                       |                                       |                                                                     |             |              |
| Other assets:                                             |                             |                                              |            |                                       |                                                       |                                       |                                                                     |             |
| Fixed assets (net of accumulateddepreciation of $3,419 at |                             |                                              |            |
| September 30, 2002 and $2,166 atDecember 31, 2001)        | 8,554                       |                                              | 5,539      |
| Advance to shareholder                                    |                             |                                              |            |                                       | 0                                                     |                                       | 911                                                                 |
| Investment in stock (atcost)                              |                             |                                              |            | 0                                     |                                                       | 3,300                                 |
| Security deposit                                          |                             |                                              |            |                                       | 5,625                                                 |                                       |            0 |
|                                                           |                             |                                              |            |                                       |                                                       |                                       |                                                                     |             |              |
|                                                           |                             | Total Assets                                 |            |                                       |                                                       | $34,169                               |                                                                     | $61,275     |
|                                                           |                             |                                              |            |                                       |                                                       |                                       |                                                                     |             |              |
|                                                           |                             |                                              |            |                                       |                                                       |                                       |                                                                     |             |              |
| **LIABILITIES & SHAREHOLDERS' EQUITY**                |                             |                                              |            |                                       |                                                       |
|                                                           |                             |                                              |            |                                       |                                                       |                                       |                                                                     |             |              |
| Current liabilities:                                      |                             |                                              |            |                                       |                                                       |                                       |                                                                     |             |
| Short term notes & advancespayable                    |                             |                                              | $1,015,378 |                                       | $938,197                                              |
| Accrued interestpayable                                   |                             |                                              |            |                                       | 7,364                                                 |                                       | 297,536                                                             |
| Accrued expenses                                          |                             |                                              |            |                                       |         2,501 |                                       |       33,893                          |
|                                                           |                             |                                              |            |                                       |                                                       |                                       |                                                                     |             |              |
| Total CurrentLiabilities                                  |                             |                                              |            | 1,025,243                             |                                                       | 1,269,626                             |
|                                                           |                             |                                              |            |                                       |                                                       |                                       |                                                                     |             |              |
| Long term notes payable                                   |                             |                                              |            | 244,979                               |                                                       | 0                                     |
| Shareholder advancepayable                                |                             |                                              |            | 0                                     |                                                       | 100,000                               |
|                                                           |                             |                                              |            |                                       |                                                       |                                       |                                                                     |             |              |
| Shareholders' Equity:                                     |                             |                                              |            |                                       |                                                       |                                       |                                                                     |
| Common stock, $.001 par value;authorized                  |                             |                                              |            |                                       |                                                       |
| 40,000,000 shares, issued, andoutstanding                 |                             |                                              |            |                                       |                                                       |
| 19,917,500 at September 30, 2002and                       |                             |                                              |            |                                       |                                                       |
| 21,263,500 at December 31,2001                            |                             |                                              |            | 19,917                                |                                                       | 21,263                                |
| Additional paid incapital                                 |                             |                                              |            |                                       | 1,404,234                                             |                                       | 1,044,468                                                           |
| Treasury stock, 6,500 shares atcost                       |                             |                                              |            | (266,323)                             |                                                       | (6,500)                               |
| Retained deficit                                          |                             |                                              |            |                                       |                                                       | (2,393,881)                           |                                                                     | (2,367,582) |
|                                                           | Total shareholders' deficit |                                              |            |                                       | (1,236,053)                                           |                                       | (1,308,351)                                                         |
|                                                           |                             |                                              |            |                                       |                                                       |                                       |                                                                     |             |              |
|                                                           |                             | Total Liabilities & Shareholders' Equity |            |      $34,169 |                                                       |      $61,275 |
|                                                           |                             |                                              |            |                                       |                                                       |                                       |                                                                     |             |              |
|                                                           |                             |                                              |            |                                       |                                                       |                                       |                                                                     |             |              |
| **See the notes to the financial statements.**            |                             |                                              |            |                                       |                                                       |

|                                                 |                           |           |                                                                                 |                                                                     | **NineMos.**                                                        |                                                                           | **NineMos.**                                                              |                                                                                 | **ThreeMos.**                                                  |                                                                                 | **ThreeMos.** |
|-------------------------------------------------|---------------------------|-----------|---------------------------------------------------------------------------------|---------------------------------------------------------------------|---------------------------------------------------------------------|---------------------------------------------------------------------------|---------------------------------------------------------------------------|---------------------------------------------------------------------------------|----------------------------------------------------------------|---------------------------------------------------------------------------------|---------------|
|                                                 |                           |           |                                                                                 |                                                                     | **9/30/02**                                                         |                                                                           | **9/30/01**                                                               |                                                                                 | **9/30/02**                                                    |                                                                                 | **9/30/01**   |
|                                                 |                           |           |                                                                                 |                                                                     |                                                                     |                                                                           |                                                                           |                                                                                 |                                                                |                                                                                 |               |
| Gross Revenues                                  |                           |           |                                                                                 | $0                                                                  |                                                                     | $30,947                                                                   |                                                                           | $0                                                                              |                                                                | $0                                                                              |
| Less cost of revenues                           |                           |           |                                                                                 |            - |                                                                     |             - |                                                                           |              - |                                                                |              - |
|                                                 |                           |           |                                                                                 |                                                                     |                                                                     |                                                                           |                                                                           |                                                                                 |                                                                |                                                                                 |               |
| Gross profit on revenues                        |                           |           | -                                                                               |                                                                     | 30,947                                                              |                                                                           | -                                                                         |                                                                                 | -                                                              |
|                                                 |                           |           |                                                                                 |                                                                     |                                                                     |                                                                           |                                                                           |                                                                                 |                                                                |                                                                                 |               |
| General and administrative expenses:            |                           |           |                                                                                 |                                                                     |                                                                     |                                                                           |                                                                           |                                                                                 |
| Administrative expenses                         |                           |           | 71,419                                                                          |                                                                     | 32,733                                                              |                                                                           | 39,571                                                                    |                                                                                 | 9,153                                                          |
| Depreciation expense                            |                           |           |     1,253                                                   |                                                                     |     2,558                                       |                                                                           |         555                       |                                                                                 |           19 |
|                                                 |                           |           |                                                                                 |                                                                     |                                                                     |                                                                           |                                                                           |                                                                                 |                                                                |                                                                                 |               |
| Total general and administrative expenses       |    72,672  |           |    35,291                                                        |                                                                     |    40,126                                            |                                                                           |      9,172                                       |
|                                                 |                           |           |                                                                                 |                                                                     |                                                                     |                                                                           |                                                                           |                                                                                 |                                                                |                                                                                 |               |
| Loss from operations                            |                           |           |                                                                                 | (72,672)                                                            |                                                                     | (4,344)                                                                   |                                                                           | (40,126)                                                                        |                                                                | (9,172)                                                                         |
|                                                 |                           |           |                                                                                 |                                                                     |                                                                     |                                                                           |                                                                           |                                                                                 |                                                                |                                                                                 |               |
| Other Income (expenses):                        |                           |           |                                                                                 |                                                                     |                                                                     |                                                                           |                                                                           |                                                                                 |                                                                |
| Interest expense                                |                           |           |                                                                                 | (76,106)                                                            |                                                                     | (111,409)                                                                 |                                                                           | (8,397)                                                                         |                                                                | (39,028)                                                                        |
| Rental income                                   |                           |           |                                                                                 |     13,270                                      |                                                                     |             - |                                                                           |            -             |                                                                |     25,000                                                  |
|                                                 |                           |           |                                                                                 |                                                                     |                                                                     |                                                                           |                                                                           |                                                                                 |                                                                |                                                                                 |               |
| Net loss before income tax provision            |                           | (135,508) |                                                                                 | (115,753)                                                           |                                                                     | (48,523)                                                                  |                                                                           | (23,200)                                                                        |
|                                                 |                           |           |                                                                                 |                                                                     |                                                                     |                                                                           |                                                                           |                                                                                 |                                                                |                                                                                 |               |
| Provision for income tax                        |                           |           |            -             |                                                                     |            - |                                                                           |            -       |                                                                                 |         225            |
|                                                 |                           |           |                                                                                 |                                                                     |                                                                     |                                                                           |                                                                           |                                                                                 |                                                                |                                                                                 |               |
| Net loss before extraordinary item              |                           | (135,508) |                                                                                 | (115,753)                                                           |                                                                     | (48,523)                                                                  |                                                                           | (22,975)                                                                        |
|                                                 |                           |           |                                                                                 |                                                                     |                                                                     |                                                                           |                                                                           |                                                                                 |                                                                |                                                                                 |               |
| Extraordinary item:                             |                           |           |                                                                                 |                                                                     |                                                                     |                                                                           |                                                                           |                                                                                 |                                                                |                                                                                 |
| Gain on restructuring of debt,net of tax effect |    109,209 |           |              - |                                                                     |   161,688                                                 |                                                                           |             - |
|                                                 |                           |           |                                                                                 |                                                                     |                                                                     |                                                                           |                                                                           |                                                                                 |                                                                |                                                                                 |               |
| Net Income (Loss)                               |                           |           |                                                                                 | ($26,299)                                                           |                                                                     | ($115,753)                                                                |                                                                           | $113,165                                                                        |                                                                | ($22,975)                                                                       |
|                                                 |                           |           |                                                                                 |                                                                     |                                                                     |                                                                           |                                                                           |                                                                                 |                                                                |                                                                                 |               |

| Loss per common share:             |  |  |  |  |            |         |            |                              |            |                        |            |
|------------------------------------|--|--|--|--|------------|---------|------------|------------------------------|------------|------------------------|------------|
| Basic & fully diluted:         |  |  |  |  |            |         |            |                              |            |                        |            |
| Net loss fromoperations            |  |  |  |  | ($0.01)    |         | ($0.01)    |                              | ($0.00)    |                        | ($0.00)    |
| Extraordinary item                 |  |  |  |  |            | 0.01    |            |     0.00 |            |    0.01 |            |      0.00 |
| Net loss per share                 |  |  |  |  |            | ($0.00) |            | ($0.01)                      |            | $ 0.01            |            | $   0.00 |
|                                    |  |  |  |  |            |         |            |                              |            |                        |            |  |  |
| Weighted average of common shares: |  |  |  |  |            |         |            |                              |            |                        |
| Basic & fully diluted          |  |  |  |  | 20,179,744 |         | 21,263,500 |                              | 19,828,973 |                        | 21,263,500 |

|                                                            |          |          |          |                    |                                                                     |                                                                     | **9/30/02**                                                         |            | **9/30/01** |
|------------------------------------------------------------|----------|----------|----------|--------------------|---------------------------------------------------------------------|---------------------------------------------------------------------|---------------------------------------------------------------------|------------|-------------|
| Operating Activities:                                      |          |          |          |                    |                                                                     |                                                                     |                                                                     |
| Net loss                                                   |          |          |          |                    |                                                                     | ($26,299)                                                           |                                                                     | ($115,753) |
| Adjustments to reconcile netincome items                   |          |          |          |                    |                                                                     |
| not requiring the use of cash:                             |          |          |          |                    |                                                                     |                                                                     |
| Depreciation                                               |          |          |          |                    |                                                                     | 1,253                                                               |                                                                     | 2,558      |
| Deferred income                                            |          |          |          |                    | 0                                                                   |                                                                     | (32,013)                                                            |
| Impairment charge                                          |          |          |          |                    | 3,300                                                               |                                                                     | 0                                                                   |
| Gain on extinguishment of debt,net of tax effect           |          | (90,000) |          | 0                  |
| Loss on restructuring of shortterm debt, net of tax effect | (19,209) |          | 0        |
|                                                            |          |          |          |                    |                                                                     |                                                                     |                                                                     |            |             |
| Changes in other operating assets andliabilities:          |          |          |          |                    |                                                                     |
| Deposits with clearingbroker                               |          |          |          | 0                  |                                                                     | 193                                                                 |
| Interest payable                                           |          |          |          |                    | 152,794                                                             |                                                                     | 111,409                                                             |
| Accrued expenses & accountspayable                     |          |          | (31,392) |                    | (12,671)                                                            |
|                                                            |          |          |          |                    |                                                                     |                                                                     |                                                                     |            |             |
| Net cash used by operations                                |          |          |          | (9,553)            |                                                                     | (46,277)                                                            |
|                                                            |          |          |          |                    |                                                                     |                                                                     |                                                                     |            |             |
| Investing activities                                       |          |          |          |                    |                                                                     |                                                                     |                                                                     |            |
| Security deposit                                           |          |          |          |                    | (5,625)                                                             |                                                                     | 0                                                                   |
| Purchase of office equipment& furniture                |          |          | (4,268)  |                    |            0 |
|                                                            |          |          |          |                    |                                                                     |                                                                     |                                                                     |            |             |
| Net cash used by investing activities                      |          |          |          | (9,893)            |                                                                     |            0 |
|                                                            |          |          |          |                    |                                                                     |                                                                     |                                                                     |            |             |
| Financing Activities:                                      |          |          |          |                    |                                                                     |                                                                     |                                                                     |
| Acquisition of short term notes                            |          |          |          | 30,000             |                                                                     | 0                                                                   |
| Payment of short termnotes                                 |          |          |          | (33,000)           |                                                                     | 0                                                                   |
| Note payable toshareholder                                 |          |          |          | (10,000)           |                                                                     | 0                                                                   |
| Capital contributed byshareholder                          |          |          |          | 0                  |                                                                     | 50,000                                                              |
| Advances toshareholder                                     |          |          |          |                    |         911                 |                                                                     |            0 |
|                                                            |          |          |          |                    |                                                                     |                                                                     |                                                                     |            |             |
| Net cash provided by financing activities                  |          |          |          | (12,089)           |                                                                     | 50,000                                                              |
|                                                            |          |          |          |                    |                                                                     |                                                                     |                                                                     |            |             |
| Net increase (decrease) in cash during period              |          |          | (31,535) |                    | 3,723                                                               |
|                                                            |          |          |          |                    |                                                                     |                                                                     |                                                                     |            |             |
| Cash balance at beginning of period                        |          |          |          |   51,525 |                                                                     |   55,166                                                  |
|                                                            |          |          |          |                    |                                                                     |                                                                     |                                                                     |            |             |
| Cash balance at end of period                              |          |          |          | $19,990            |                                                                     | $58,889                                                             |
|                                                            |          |          |          |                    |                                                                     |                                                                     |                                                                     |            |             |
|                                                            |          |          |          |                    |                                                                     |                                                                     |                                                                     |            |             |
| Supplemental disclosures of cash flowinformation:          |          |          |          |                    |                                                                     |
| Interest paid during theperiod                             |          |          |          | $0                 |                                                                     | $0                                                                  |
| Income taxes paid during theperiod                         |          |          | $0       |                    | $0                                                                  |
|                                                            |          |          |          |                    |                                                                     |                                                                     |                                                                     |            |             |
| **See the notes to the financial statements.**             |          |          |          |                    |                                                                     |

|                                                |  | Common                                                                                                       |  | Common                                                                         | Paidin |                                                                                                        | Treasury |                                                                                                  | Retained |                                              |  |
|------------------------------------------------|--|--------------------------------------------------------------------------------------------------------------|--|--------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------|----------|--------------------------------------------------------------------------------------------------|----------|----------------------------------------------|--|
|                                                |  | Shares                                                                                                       |  | Amount                                                                         |        | Capital                                                                                                |          | Stock                                                                                            |          | Deficit                                      |  | Total |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
| Balance at January 1, 2002                     |  | 21,263,500                                                                                                   |  | $21,263                                                                        |        | $1,044,468                                                                                             |          | ($6,500)                                                                                         |          | ($2,367,582)                                 |  | ($1,308,351) |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
| Shares returned to treasury                    |  | (1,410,000)                                                                                                  |  | (1,410)                                                                        |        | 1,410                                                                                                  |          |                                                                                                  |          |                                              |  | 0 |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
| Purchase of treasury stock                     |  | (177,000)                                                                                                    |  | (177)                                                                          |        |                                                                                                        |          | (259,823)                                                                                        |          |                                              |  | (260,000) |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
| Debt converted to stock                        |  | 241,000                                                                                                      |  | 241                                                                            |        | 358,356                                                                                                |          |                                                                                                  |          |                                              |  | 358,597 |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
| Net loss for the period                        |  |                    |  |               |        |                   |          |                  |          |       (26,299) |  |         (26,299) |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
| Balance at September 30, 2002                  |  | 19,917,500                                                                                                   |  | $19,917                                                                        |        | $1,404,234                                                                                             |          | ($266,323)                                                                                       |          | ($2,393,881)                                 |  | ($1,236,053) |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
|                                                |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |  |  |
| **See the notes to the financial statements.** |  |                                                                                                              |  |                                                                                |        |                                                                                                        |          |                                                                                                  |          |                                              |

# **3. Earnings per Share**

|                    |  |  | **NineMonths** |  | **NineMonths** |  | **ThreeMonths** |  | **ThreeMonths** |
|--------------------|--|--|----------------|--|----------------|--|-----------------|--|-----------------|
|                    |  |  | **9/30/02**    |  | **9/30/01**    |  | **9/30/02**     |  | **9/30/01**     |
|                    |  |  |                |  |                |  |                 |  |                 |
| Shares outstanding |  |  | 19,897,500     |  | 21,263,500     |  | 19,897,500      |  | 21,263,500      |
|                    |  |  |                |  |                |  |                 |  |                 |
| Weighted Average   |  |  | 20,179,744     |  | 21,263,500     |  | 19,828,973      |  | 21,263,500      |

# **5. Short and Long Term Notes Debt**

| Exchangenote |  | $1,039,140                                             |
|--------------|--|--------------------------------------------------------|
| 09/30/03     |  | 0                                                      |
| 09/30/04     |  | 184,037                                                |
| 09/30/05     |  |         44,543 |
|              |  |                                                        |
| Total        |  | 1,267,721                                              |
|              |  |                                                        |
| Lessinterest |  |       (7,364)            |
|              |  |                                                        |
| Totaldebt    |  | $1,260,357                                             |

# 

| Provision for income taxes is comprised of thefollowing:                                         |  |  |            |                                                                      |
|--------------------------------------------------------------------------------------------------|--|--|------------|----------------------------------------------------------------------|
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
|                                                                                                  |  |  |            |                                                                      |  | 30-Sep-02 |  | 30-Sep-01 |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
| Net loss before provision for income taxes                                                       |  |  | ($135,508) |                                                                      | ($115,753) |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
| Current tax expense:                                                                             |  |  |            |                                                                      |  |  |  |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
| Federal                                                                                          |  |  |            |                                                                      |  | $0 |  | $0 |
| State                                                                                            |  |  |            |                                                                      |  |             0 |  |              0 |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
| Total                                                                                            |  |  |            |                                                                      |  | $0 |  | $0 |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
| Less deferred tax benefit:                                                                       |  |  |            |                                                                      |  |  |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
| Federal loss carry-forward                                                                       |  |  |            | (88,685)                                                             |  | (44,197) |
| Allowance for recoverability                                                                     |  |  |            |     88,685                                       |  |      44,197 |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
| Provision for income taxes                                                                       |  |  |            | $           0 |  | $             0 |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
| A reconciliation of provision for income taxes at thestatutory rate to provision                 |  |  |
| for income taxes at the Company's effective tax rate is asfollows:                               |  |  |            |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
| Statutory U.S. federal rate                                                                      |  |  |            | 34%                                                                  |  | 34% |
| Statutory state and local income tax                                                             |  |  | 10%        |                                                                      | 10% |
| Less timing differences                                                                          |  |  |            |        -44%                       |  |        -44% |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
| Effective rate                                                                                   |  |  |            |                                                                      |            0% |  |            0% |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
| Deferred income taxes are comprised of thefollowing:                                             |  |  |            |                                                                      |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
| Federal loss carry-forward                                                                       |  |  |            | $88,685                                                              |  | $44,197 |
| Allowance for recoverability                                                                     |  |  |            | (88,685)                                                             |  | (44,197) |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
| Deferred tax benefit                                                                             |  |  |            |                                                                      | $          0 |  | $           0 |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
|                                                                                                  |  |  |            |                                                                      |  |  |  |  |
| Net operating loss carry-forward tax benefits expire infiscal years 2021 and 2022 and may not be |
| transferable to other tax paying entities under current IRSstatutes.                             |  |  |            |

# 

### 

### **14. Related Party Transactions**

## SIGNATURES