U.S. Securities and Exchange Commission

                             Washington, D.C. 20549

                                   FORM 10-KSB

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

                  For the Fiscal Year Ended September 30, 2001

                         Commission File Number 0-24709

                      GLOBUS INTERNATIONAL RESOURCES CORP.
--------------------------------------------------------------------------------
                 (Name of Small Business Issuer in its Charter)


              Nevada                                          #86-0203697
------------------------------------                     -----------------------
  (State or other jurisdiction of                           (I.R.S. Employer
  incorporation or organization)                           Identification No.)

  80 Wall Street, #518, New York, NY                             10005
-----------------------------------------                   --------------
 (Address of Principal Executive Offices)                     (Zip Code)

                                 (212) 558-6100
--------------------------------------------------------------------------------
                (Issuer's Telephone Number, Including Area Code)

Securities registered under Section 12(b) of the Exchange Act:

                              None

Securities registered under Section 12(g) of the Exchange Act:

                    Common Stock, $0.001 par value per share
--------------------------------------------------------------------------------
                                (Title of Class)

         Check whether the issuer: (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for much
shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for past 90 days.

Yes [X]       No [ ]

<PAGE>

         Check if disclosure of delinquent filer in response in Item 405 of
Regulation S-B is not contained in this form, and no disclosure will be
contained to the best of registrant's knowledge, in definative proxy or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10-KSB. [x]

         Issuer's revenues for its fiscal year ended September 30, 2001 were
$9,010,215.

         State the aggregate market value of the voting and non-voting common
equity held by non-affiliates computed by reference to the price at which the
common equity was sold, or the average bid and asked price of such common
equity, as of a specified date within the past 60 days. $229,451 as of December
15, 2001.

         The number of shares outstanding of the issuer's common stock as of
December 15, 2001 was 3,277,872 shares.

                       DOCUMENTS INCORPORATED BY REFERENCE

         The following documents or the indicated portions thereof are
incorporated herein by reference into the indicated portions of this Annual
Report on Form 10-KSB:
_______________________________________________________________.

         Transitional Small Business Disclosure Format (check one):

         Yes [X]       No [ ]

                                     PART I

ITEM 1.  Description of business:

         The Company has embarked on a major expansion of its international
trade activity by operating a multi-lingual, Internet-based portal that allows
international buyers and sellers of commercial and industrial products to engage
in electronic commerce seamlessly, efficiently, and in their own native
languages. The Company has contracted e-GlobusNet Corp., the developer of the
software, to provide electronic commerce among businesses in various countries.
This software is being used currently by the Company to sell its own products
but as of yet the Company is not deriving revenue from other users of the site.
e-GlobusNet Corp. has been asked to expand the features of the software. Upon
completion, the Company expects to exchange 2,425,000 shares for the ownership
of e-GlobusNet Corp., which will result in the ownership of the software.

                                       2
<PAGE>

         The Company can operate either as a broker or a principal in electronic
commercial transactions. Over the past two years it had been functioning
primarily as a principal between companies in Russia and the Ukraine and those
in Western Europe because of its strong background and experience in dealing
with the languages and cultures of the Eastern Bloc countries. Many Western
European countries prefer to deal with Globus as a principal rather than dealing
directly with companies in Russia and the Ukraine.

         In situations where Globus will act as a broker on the e-GlobusNet
Corp. portal, it will receive a commission of 1% each from buyer and seller. As
a principal, the Company can generate gross profit margins of 5% to 10%, or
higher, depending on the transaction.

         The Company presently has two wholly-owned subsidiaries, Globus Food
Systems Corp., and Shuttle International. Globus Food Systems exports meat, meat
by-products, cheese, fish, and other high-end food products from manufacturers
in Western Europe to Russia and the Ukraine. It represents over 94% of the
current total revenues of the Company. Shuttle International exports auto parts
and clothing from U.S. manufacturers to Russia and the Ukraine. Shuttle accounts
for about 6% of the total revenues of the Company.

         The Company was originally incorporated on October 24, 1984, under the
name Ross Custom Electronics ("Ross") and was engaged in the Electronics
business. On May 6, 1995, Globus Food Systems International Corp., a privately
held Delaware corporation, was merged into Ross. On October 18, 1996, Globus
Food Systems International Corp. changed its name to Globus International
Resources Corp., to reflect a reflect a broadening of its exporting business to
include non-food products. Its food exporting business was transferred to a new,
wholly-owned subsidiary called Globus Food Systems Corp., a New York corporation
formed in September 1996.

ITEM 2.  Description of Property:

         The Company, pursuant to a two-year agreement, leases approximately
1,750 square feet of space for an administrative, clerical and executive office
for the Company's export business at 80 Wall Street, #518, New York, NY 10005.
The term of the lease commenced in 2001. Annual rent payments are $39,840. There
is another lease with a warehouse in Georgia, United States to store paint with
an annual rent of $36,000. This lease is renewable on January 1, 2002.

                                       3
<PAGE>

         Shuttle, pursuant to a lease agreement with 1616 Mermaid Associates,
leases approximately 1,000 square feet of space for its export business at 1616
Mermaid Avenue, Brooklyn, NY 11224. The term of the lease commenced on March 1,
1994. The annual rent is $8,400.

         1616 Mermaid Associates is owned by Messrs. Serge Pisman, Herman Roth
and Yury Greene are the Company's President, Secretary and Treasurer,
respectively.

ITEM 3.  Legal Proceedings:

         None

ITEM 4.  Submission of Matters to a Vote of Security Holders:

         No matters were submitted to a vote of the shareholders during the
fourth quarter of fiscal 2001.

                                     PART II

ITEM 5.  Market for Common Equity and Related Stockholder Matters:

         The Company's Common Stock trades under the symbol "ABIR" on the OTC
Bulletin Board. The market for the Company's Common Stock is limited, sporadic
and highly volatile. The following table sets forth the high and low bid prices
per share of the Company's Common Stock during fiscal 2001, as reported by the
OTC Bulletin Board. These prices reflect inter-dealer prices, without retail
mark-ups, market-downs or commissions, and may not necessarily represent actual
transactions.

                                                              High       Low
                                                             ------     ------

Fiscal 2000:

         First Quarter                                         .70       .14

         Second Quarter                                        .42       .16

         Third Quarter                                         .22       .13

         Fourth Quarter                                        .18       .10


         The number of shareholders of record as of September 30, 2001 was 91.

                                       4
<PAGE>


         It is the present policy of the Company not to pay cash dividends. Any
payment of cash dividends in the future will depend upon the amount of funds
legally available for that purpose, the Company's earnings, financial condition,
capital requirements and other factors that the Board of Directors may deem
relevant.

ITEM 6.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations:

         The following discussion and analysis should be read in conjunction
with the consolidated financial statements and notes thereto contained elsewhere
in this Annual Report.

Comparison of the Year Ended September 30, 2001 and 2000

         Revenues increased $1,258,376 (16.2%) in the year ended September 30,
2001 to $9,010,215 from $7,751,839 for the year ended September 30, 2000. The
increase is attributable to several large new customers, one in the tire
industry and two in fish and walnuts, respectively. The cost of sales in 2001 of
$8,504,304 was $298,997 (3.6%) higher than the 2000 cost of sales of $8,205,207.
The reason for the increase was the larger revenues in 2001. The actual margins
on sales of food products and auto parts were similar to the prior year.

         Selling expenses decreased $29,395 (19.6%) during 2001 to 1.3% of sales
as compared to $66,075 or 1.9% of sales in 2000. The decrease is due to the
reduction of rent, staff and other operating costs.

         General and administrative costs decreased $172,862 (.49%) to 2% of net
sales in 2001 from $349,788 (4.5% of net sales) in 2000. This decrease arises
from the elimination of high level salaries, as well as the reduction in rent
and several large consulting and legal fees. Depreciation and amortization
decreased $64,577 (73.2%) to $23,675 (.03%) from $88,252 (1.1%) in 2000. This
decrease is the result of certain deferred financing and consulting costs being
fully amortized prior to the end of fiscal 2000.

         Interest expense decreased $119,817 to $180,429 in 2001, due to the
large credit line being consolidated with a CD, used to pay down $600,000 of the
debt.

                                       5
<PAGE>

         The 2001 net income of $7,447 is a increase in income from the net loss
of $3,693,440 in 2000, the result of the major writedowns of inventory
($988,000) and accounts receivable ($2,370,675) in 2000. The loss in 2000 was
mainly caused by the collapse of the Russian economy in the latter part of 1998.

FINANCIAL CONDITION

September 30, 2001 compared to September 30, 2000

         Cash and cash equivalents at September 30, 2001 of $46,087 is $11,375
more than the cash and cash equivalents of $34,712 in September 30, 2000. This
low increase in cash is primarily the result of a weak Russian economy in both
latter part of fiscal 2000 and 2001 which in turn affected both the sales and
the timeliness of accounts receivable collections.

         Accounts receivable increased $527,533 (43.6%) to $1,737,905 at
September 30, 2001 because sales for 2001 increased $1,258,376. The increase in
accounts receivable is not only attributable to the weak Russian economy where
all the customers are located, but also to the extension of credit terms for
sales and a reduction in the requirement of cash prepayments prior to shipment.

         The Company did not acquire any significant property assets in fiscal
2001.

         Accounts and acceptance payable increased $222,824 to $671,439 at
September 30, 2001 from $448,615 at September 30, 2000 accounts. The change was
due to a lack of lack of cash flow in fiscal 2000 caused by the receivable
increase.

         Accrued expenses and other current liabilities decreased $121,160 to
$73,259 at September 30, 2001 primarily due to the payback of certain rent
accruals, and decrease in overall professional fees.

         Notes payable to banks and related parties of $1,951,689 at September
30, 2001 was $397,908 more than the September 30, 2000 amount of $1,553,776.
This is the result of a large loan by one shareholder in 2001.

         Stockholders' deficiency decreased $35,447 to $(684,382) at September
30, 2001 from ($719,829) at September 30, 2000. The deficiency decrease arises
from the net income derived in fiscal 2001, and the issuance of shares for
consulting services.

                                       6
<PAGE>

LIQUIDITY AND CAPITAL RESOURCES:

         The Company's working capital deficiency at September 30, 2001 and 2000
was $(837,991) and $(911,674), respectively. The Company's primary sources of
working capital have been (i) the proceeds from its bank lines-of-credit, the
working capital term loan, related party loans and advances, and (ii) the
issuance of its securities for cash, as payments for services rendered as well
as its regular sales collections.

         Currently the Company's primary cash requirements include (i) the
funding of its inventory purchases for and receivables from sales of products
and (ii) ongoing selling, administrative and other operating expenses.
Management believes that the Company's cash liquidity position will also be
enhanced by the commencement of the new internet based portal business which
will enable the company to obtain a new line of customers and that its present
three unsecured bank lines aggregating $275,000 and its secured letters of
credit and bank note of aggregating $1,220,617, should be in aggregate,
sufficient to fund the Company's operation for the next twelve months. The above
assumes the Company's operations are consistent with management's expectations
which are expected to be an improvement from fiscal 2001. The Company may need
additional financing thereafter. There can be no assurance that the Company will
be able to obtain financing on a favorable or timely basis. The type, timing and
terms of financing elected by the Company will depend upon its cash needs, the
availability of other financing sources and the prevailing conditions in the
financial markets. Moreover any statement regarding the Company's ability to
fund its operations from expected cash flows is speculative in nature and
inherently subject to risks and uncertainties, some of which cannot be predicted
or quantified.

ITEM 7.  Financial Statements:

         The financial statements of the Company are included in this report
commencing on Page F-1.

                                    PART III

ITEM 8.  Directors, Executive Officers, Promoters and Control Persons;
         Compliance with Section 16(a) of the Exchange Act:

         The following table sets forth the name, age and position of each
person who was serving as an executive office or director of the Company at
December 15, 2001:

             Name                   Age                      Office
         ----------------          -----              -----------------------

         Serge Pisman               37                President, Director
         Herman Roth                53                Secretary, Director
         Yury Greene                62                Treasurer, Director

                                       7
<PAGE>

Section 16(a) Beneficial Ownership Reporting Compliance.

         Section 16(a) of the Securities and Exchange Act of 1934, as amended,
requires the Company's officers and directors, and persons who own more than ten
percent of a registered class of the Company's equity securities, to file
reports of ownership and changes of ownership with the Securities and Exchange
Commission (the "SEC"). Officers, directors and greater than ten percent
shareholders are required by SEC regulation to furnish the Company with copies
of all such reports they file.

         Based solely on its review of the copies of such reports received by
the Company, and written representations that no Form 5 were required, the
Company believes that, during the fiscal year ended September 30, 2001 and prior
fiscal years, all filing requirements applicable to its officers and directors,
and all of the persons known to the Company to own more than ten percent of its
Common Stock, were complied with by such persons, except that Messrs, Pisman,
Roth and Greene filed their initial statements of beneficial ownership late.

ITEM 10. EXECUTIVE COMPENSATION:

         The following table sets forth the annual compensation for the
Company's Chief Executive Officer and President:

                               ANNUAL COMPENSATION

                                                          Other Annual
  Name and Principal                               ---------------------------
     Position                Year       Salary       Bonus       Compensation
------------------------  ----------  -----------  ---------  ----------------

Serge Pisman, President      1999       2,510
                             2000           0
                             2001           0


* The lack of salary paid is due to present financial situation of the Company,
and the desire of the officers to ensure that all current operating needs are
met, in addition to funding the new internet products.

ITEM 11. Security Ownership of Certain Beneficial Owners and Management:

         The table below sets forth information as to each person owing of
record or who was known by the Company to own beneficially more than 5% of the
3,277,872 shares of issued and outstanding Common Stock of the Company as of
December 15, 2001 and information as to the ownership of the Company's Stock by
each of its directors and executive officers and by the directors and executive
officers as a group. Except as otherwise indicated, all shares are owned
directly, and the persons named in the table have sole voting and investment
power with respect to shares shown as beneficially owned by them.

                                       8
<PAGE>


                     Name and Address of         Amount and Nature of   Percent
Title of Class       Beneficial Owner            Beneficial Ownership   of Class
----------------     --------------------------  --------------------   --------

Common Stock         Serge Pisman
                     2 World Trade Center
                     New York, NY  10048                 472,222         14.4%

Common Stock         Herman Roth
                     2 World Trade Center
                     New York, NY  10048                 472,222         14.4%

Common Stock         Yury Greene
                     2 World Trade Center
                     New York, NY  10048                 472,222         14.4%

All directors and officers as a group (3 in number)    1,416,666         43.2%

Comm Stock           FTP, Inc.                           216,752          6.6%
                     Robert W. Martyn                    216,752          6.6%
                     48 Par-La-Ville Road
                     Hamilton, Bermuda


ITEM 12. Certain Relationship and Related Transactions:

         Herman Roth loaned $125,000 to the Company in April 1996 in exchange
for the Company's 7% promissory note in the principal amount of $125,000. This
note payable on March 31, 1997 was extended indefinitely. An additional
non-interest bearing loan was made by Mr. Roth in 2001 for $450,000.

         Ida and Victor Pisman, Serge Pisman's parents, loaned $20,000 to the
Company in August 1996 in exchange for the Company's 15% promissory note in the
principal amount of $20,000. This note was payable on August 22, 1997 but was
extended indefinitely. Another loan with 1,909 outstanding was made in fiscal
2000.

         Serge Pisman, Herman Roth and Yury Greene own 1616 Mermaid Associates
which leases office space to the Company and to Shuttle. See "Property".

         Serge Pisman, Herman Roth and Yury Greene have personally guaranteed
payment of sums due under the Company's $1,220,617 line of credit with the Park
Avenue Bank, N.A.

         Yury Greene has personally guaranteed payment of sums due under the
Company's $75,000 line-of-credit with Chase Manhattan Bank, N.A.

                                       9
<PAGE>


         Serge Pisman and Yury Greene loaned $105,000 to the Company in fiscal
2000, with no definite repayment terms. 49,800 is outstanding at September 30,
2001.

ITEM 13. Exhibits and Reports on Form 8-K:

(a)      The following exhibits are filed as part of this report:

         Exhibit No.                                  Exhibit Title
         -----------                            ----------------------------

            (27)                                   Financial Data Schedule

                                   SIGNATURES

         In accordance with Section 13 or 15(d) of the Exchange Act, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

GLOBUS INTERNATIONAL RESOURCES CORP.

By:      /s/ SERGE PISMAN
         ----------------------------------------
Title:   President
         ----------------------------------------
Date:    December 25, 2001
         ----------------------------------------

              In accordance with the Exchange Act, this report has been signed
below by the following persons on behalf of the registrant and in the capacities
and on the dates indicated.

By:      /s/ SERGE PISMAN
         ----------------------------------------
Title:   President
         ----------------------------------------
Date:    December 25, 2001
         ----------------------------------------

By:      /s/ HERMAN ROTH
         ----------------------------------------
Title:   Secretary
         ----------------------------------------
Date:    December 25, 2001
         ----------------------------------------

By:      /s/ YURY GREENE
         ----------------------------------------
Title:   Treasurer
         ----------------------------------------
Date:    December 25, 2001
         ----------------------------------------


                                       10

<PAGE>


                         INDEPENDENT ACCOUNTANTS' REPORT


To the Board of Directors
Globus International Resources Corp.


We have audited the accompanying consolidated balance sheets of Globus
International Resources Corp. and its subsidiaries as at September 30, 2001 and
2000, and the related consolidated statements of operations, changes in
stockholders' equity, and cash flows for the years then ended. These financial
statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these financial statements based on
our audits.

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

The accompanying consolidated financial statements have been prepared assuming
that the Company will continue as a going concern. As discussed in Note 2, the
Company has experienced substantial recurring losses from operations and at
September 30, 2001 a working capital and capital deficiency exists that raises
substantial doubt about its ability to continue as a going concern. Management's
plans in regard to these matters are also described in Note 2. The financial
statements do not include any adjustments that might result from the outcome of
this uncertainty.


                                            ARTHUR YORKES & COMPANY

New York, New York
December 10, 2001

                                       11
<PAGE>
<TABLE>
<CAPTION>


              GLOBUS INTERNATIONAL RESOURCES CORP. AND SUBSIDIARIES

                           CONSOLIDATED BALANCE SHEETS

                                  SEPTEMBER 30,

                                                                 2001           2000
                                                             -----------    -----------
<S>                                                          <C>            <C>
Current assets:
     Cash and cash equivalents                               $    46,087    $    34,712
     Accounts receivable                                       1,737,905      1,210,372
     Inventories                                                 137,024        125,757
     Income tax refunds receivable                                40,000         40,000
     Loan receivable - employee                                    1,200              -
                                                             -----------    -----------

         Total current assets                                  1,962,216      1,410,841
                                                             -----------    -----------

Property and equipment, at cost -
  net of accumulated depreciation                                  7,748         20,663
                                                             -----------    -----------

Prepaid costs                                                     47,334         47,334
                                                             -----------    -----------

Other assets:
     Goodwill, net of accumulated amortization                    89,087         97,848
     Security deposits                                             9,440         26,000
                                                             -----------    -----------
                                                                  98,527        123,848
                                                             -----------    -----------

                                                             $ 2,115,825    $ 1,602,686
                                                             ===========    ===========

                      LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
     Bank lines of credit payable                            $ 1,307,675    $ 1,317,276
     Notes payable, related parties                              644,009        236,500
     Accounts payable                                            671,439        448,615
     Accrued expenses and other current liabilities -
       related parties                                           103,825        125,705
     Accrued expenses and other current liabilities               73,259        194,419
                                                             -----------    -----------

         Total current liabilities                             2,800,207      2,322,515
                                                             -----------    -----------

Commitments and contingencies (Note 11)

Stockholders' equity:
     Common stock, $.001 par value, authorized -
       50,000,000 shares, issued and outstanding -
       3,277,872 and 3,211,205 (as retroactively adjusted
       for one for three reverse split in January 2001)
       at September 30, 2001 and 2000, respectively                3,278          3,211
     Additional paid-in-capital                                5,365,563      5,337,630
     Deficit                                                  (6,053,223)    (6,060,670)
                                                             -----------    -----------
                                                                (684,382)      (719,829)
                                                             -----------    -----------

                                                             $ 2,115,825    $ 1,602,686
                                                             ===========    ===========
</TABLE>

                                       12
<PAGE>
<TABLE>
<CAPTION>

              GLOBUS INTERNATIONAL RESOURCES CORP. AND SUBSIDIARIES

                      CONSOLIDATED STATEMENTS OF OPERATIONS

                        FOR THE YEARS ENDED SEPTEMBER 30,


                                                                   2001           2000
                                                               -----------    -----------
<S>                                                            <C>            <C>
Net sales                                                      $ 9,010,215    $ 7,751,839

Cost of goods sold                                               8,504,304      8,205,207
                                                               -----------    -----------

Gross profit                                                       505,911       (453,368)
                                                               -----------    -----------
Operating expenses:
     Selling                                                       120,680        150,075
     General and administrative expenses                           176,926        349,788
     Deprecation and amortization                                   23,675         88,252
     Allowance for doubtful accounts                                     -      2,370,675
                                                               -----------    -----------

         Total operating expenses                                  321,281      2,958,790
                                                               -----------    -----------

Income (loss) from operations                                      184,630     (3,412,158)
                                                               -----------    -----------
Other income (expenses):
     Interest income                                                     -         28,114
     Interest expenses                                            (180,424)      (300,241)
                                                               -----------    -----------

         Total income (expenses)                                  (180,424)      (272,127)
                                                               -----------    -----------

Income (loss) before income taxes                                    4,206     (3,684,285)

Provision (benefit) for income taxes                                (3,241)         9,155
                                                               -----------    -----------

Income (loss)                                                  $     7,447    $(3,693,440)
                                                               ===========    ===========

Net income (loss) per common share                             $      .002    $     (1.25)
                                                               ===========    ===========
Weighted average number of shares outstanding
  (as retroactively adjusted for one for three reverse split
  in January 2001)                                               3,261,955      2,950,391
                                                               ===========    ===========
</TABLE>

                                       13
<PAGE>
<TABLE>
<CAPTION>

              GLOBUS INTERNATIONAL RESOURCES CORP. AND SUBSIDIARIES

           CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

                 FOR THE YEARS ENDED SEPTEMBER 30, 2001 AND 2000


                                                          Common Shares           Additional
                                                   --------------------------      Paid-in-     Accumulated
                                                      Shares         Amount        Capital        Deficit
                                                   -----------    -----------    -----------   -----------
<S>                                                  <C>                <C>        <C>          <C>
Balance at September 30, 1999                        7,771,616          7,772      5,146,869    (2,367,230)

Common shares issued for consulting fees               152,000            152         15,048             -

Shares issued in lieu of cash payments               1,710,000          1,710        169,290             -

Net loss for the year ended September 30, 2000               -              -              -    (3,693,440)
                                                   -----------    -----------    -----------   -----------

Balance at September 30, 2000                        9,633,616          9,634      5,331,207    (6,060,670)

Common shares issued for consulting fees               200,000            200         27,800

one for three reverse split                         (6,555,744)        (6,556)         6,556

Net income for the year ended September 30, 2001             -              -              -         7,447
                                                   -----------    -----------    -----------   -----------

Balance at September 30, 2001                      $ 3,277,872    $     3,278    $ 5,365,563   $(6,053,223)
                                                   ===========    ===========    ===========   ===========
</TABLE>

                                       14
<PAGE>
<TABLE>
<CAPTION>

              GLOBUS INTERNATIONAL RESOURCES CORP. AND SUBSIDIARIES

                             CONSOLIDATED CASH FLOWS

                        FOR THE YEARS ENDED SEPTEMBER 30,



                                                                       2001             2000
                                                                   ------------    ------------
<S>                                                                <C>             <C>
Cash flows from operating activities:
     Net income (loss)                                             $      7,447    $ (3,693,440)
                                                                   ------------    ------------
     Adjustments to reconcile net income (loss) to net cash
       used in operating activities:
         Depreciation and amortization                                   23,675          88,252
         Deferred rent                                                   (1,200)              -
         Provision for doubtful accounts                                              2,370,675
         Provision for loss on disposal of inventory                                    988,333
         Security deposits                                               16,560               -
         Increase (decrease) in cash flows as a result of change
           in asset and liability account balances:
              Accounts receivable                                      (527,533)         98,018
              Inventories                                               (11,267)         56,553
              Prepaid expenses                                                          (58,174)
              Accounts and acceptances payable                          222,825          66,894
              Accrued expenses and other current liabilities:
                  Related parties                                       (21,880)         18,500
                  Other                                                (121,160)       (164,827)
                                                                   ------------    ------------

                      Total adjustments                                (419,980)      3,464,224
                                                                   ------------    ------------

         Net cash used in operating activities                         (412,533)       (229,216)
                                                                   ------------    ------------
Cash flows from investing activities:
     Acquisition of property assets                                      (2,000)         (2,088)
     Restricted cash                                                          -         708,837
                                                                   ------------    ------------

         Net cash provided by (used in) investing activities             (2,000)        706,749
                                                                   ------------    ------------
Cash flows from financing activities:
     Proceeds from lines-of-credit                                       (9,601)       (754,658)
     Proceeds from note payable, related parties                        407,509          91,500
     Issuance of common stock for services                               28,000         186,200
                                                                   ------------    ------------

         Net cash provided by financing activities                      425,908        (476,958)
                                                                   ------------    ------------

Net increase in cash and cash equivalents                                11,375             575

Cash and cash equivalents at beginning of year                           34,712          34,137
                                                                   ------------    ------------

Cash and cash equivalents at end of year                           $     46,087    $     34,712
                                                                   ============    ============
</TABLE>

                                       15
<PAGE>
<TABLE>
<CAPTION>


              GLOBUS INTERNATIONAL RESOURCES CORP. AND SUBSIDIARIES

                             CONSOLIDATED CASH FLOWS
                                   (continued)

                        FOR THE YEARS ENDED SEPTEMBER 30,

                                                                       2001            2000
                                                                   ------------    ------------
<S>                                                                <C>             <C>
Supplemental disclosures of cash flow information:
     Interest paid                                                 $    180,424    $    282,917
     Taxes paid                                                           2,241           9,155

</TABLE>

                                       16
<PAGE>

              GLOBUS INTERNATIONAL RESOURCES CORP. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                           SEPTEMBER 30, 2001 AND 2000

1.   Description of business:

     The Company has embarked on a major expansion of its international trade
     activity by operating a multi-lingual, Internet-based portal that allows
     international buyers and sellers of commercial and industrial products to
     engage in electronic commerce seamlessly, efficiently, and in their own
     native languages. The Company has contracted e-GlobusNet Corp., the
     developer of the software, to provide electronic commerce among businesses
     in various countries. This software is being used currently by the Company
     to sell its own products but as of yet the Company is not deriving revenue
     from other users of the site. E-GlobusNet Corp. has been asked to expand
     the features of the software. Upon completion, the Company expects to
     exchange 2,425,000 shares for the ownership of E-GlobusNet Corp., which
     will result in the ownership of the software (see Note 8).

     The Company can operate either as a broker or a principal in electronic
     commercial transactions. Over the past two years it had been functioning
     primarily as a principal between companies in Russia and the Ukraine and
     those in Western Europe because of its strong background and experience in
     dealing with the languages and cultures of the Eastern Bloc countries. Many
     Western European countries prefer to deal with Globus as a principal rather
     than dealing directly with companies in Russia and the Ukraine.

     In situations where Globus will act as a broker on the e-GlobusNet Corp.
     portal, it will receive a commission of 1% each from buyer and seller. As a
     principal, the Company can generate gross profit margins of 5% to 10%, or
     higher, depending on the transaction. For further discussion on E-GlobusNet
     Corp. (see Note 8).

     The Company presently has two wholly-owned subsidiaries, Globus Food
     Systems Corp., and Shuttle International. Globus Food Systems exports meat,
     meat by-products, cheese, fish, and other high-end food products from
     manufacturers in Western Europe to Russia and the Ukraine. It represents
     over 95% of the current total revenues of the Company. It also has entered
     into a new contract with a major tire manufacturer in Russia, with rubber
     purchased from a supplier in Southeast Asia. Initial sales took place in
     the last quarter of the year ended September 30, 2001. Profit margins on
     these sales are expected to reach 20-25%. Shuttle International exports
     auto parts and clothing from U.S. manufacturers to Russia and the Ukraine.
     Shuttle accounts for about 5% of the total revenues of the Company.

                                       17
<PAGE>

              GLOBUS INTERNATIONAL RESOURCES CORP. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                           SEPTEMBER 30, 2001 AND 2000

1.   Description of business:  (continued)

     The Company was originally incorporated on October 24, 1984, under the name
     Ross Custom Electronics ("Ross") and was engaged in the electronics
     business. On May 6, 1995, Globus Food Systems International Corp., a
     privately held Delaware corporation, was merged into Ross. On October 18,
     1996, Globus Food Systems International Corp. changed its name to Globus
     International Resources Corp., to reflect a broadening of its exporting
     business to include non-food products. Its food exporting business was
     transferred to a new, wholly-owned subsidiary called Globus Food Systems
     Corp., a New York corporation formed in September, 1996.

2.   Summary of significant accounting policies:

     Principles of consolidation:

     The accompanying consolidated financial statements as of September 30, 2001
     and 2000 and for the years then ended include the accounts of Globus
     International Resources Corp. and its wholly-owned subsidiaries, Shuttle
     International, Ltd. and Globus Foods International, Inc. All material
     intercompany transactions and balances have been eliminated in
     consolidation.

     Revenue recognition:

     The company recognizes revenues in accordance with generally accepted
     accounting principles in the period in which its products are shipped to
     its customers. The Company records expenses in the period in which they are
     incurred, in accordance with generally accepted accounting principles.

     Use of estimates:

     The preparation of financial statements in conformity with generally
     accepted accounting principles requires management to make estimates and
     assumptions that affect certain reported amounts and disclosures.
     Accordingly, actual results could differ from those estimates.

     Cash and cash equivalents:

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

                                       18
<PAGE>

              GLOBUS INTERNATIONAL RESOURCES CORP. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                           SEPTEMBER 30, 2001 AND 2000

2.   Summary of significant accounting policies:  (continued)

     Concentrations of credit risk:

     Financial instruments that potentially subject the Company to significant
     concentrations of credit risk consist principally of cash and trade
     accounts receivable. The Company places its cash with high credit quality
     financial institutions which at times may be in excess of the FDIC
     insurance limit. Concentrations of credit risk with respect to trade
     accounts receivable are generally limited due to the Company's requiring
     the prepayment from certain customers of up to 50% of each sale prior to
     shipment. Additionally, the accompanying financial statements reflect an
     allowance for doubtful accounts of $2,890,675 at September 30, 2001 and
     2000.

     Inventories:

     Inventories, consisting principally of finished goods, are valued at the
     lower of cost (first-in, first-out method) or market. The accompanying
     financial statements as of and for the year ended September 30, 2001 and
     2000 reflect an allowance for the disposal of inventory of and $1,692,818.

     Property and equipment:

     The cost of property and equipment is depreciated over the estimated useful
     lives of the related assets of 5 to 7 years. The cost of leasehold
     improvements is amortized over the lesser of the length of the related
     leases or the estimated useful lives of the assets. Depreciation is
     computed on the straight-line method for financial reporting purposes.
     Repairs and maintenance expenditures which do not extend original asset
     lives are charged to income as incurred.

     Goodwill:

     Goodwill arising from the acquisition of a subsidiary's minority interest
     in 1996 is being amortized over a fifteen-year period. Amortization charged
     to operation was $8,761 in 2001 and 2000.

                                       19
<PAGE>

              GLOBUS INTERNATIONAL RESOURCES CORP. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                           SEPTEMBER 30, 2001 AND 2000

2.   Summary of significant accounting policies:  (continued)


     Basis of Presentation:

     The accompanying consolidated financial statements have been prepared
     assuming that the Company will continue as a going concern. Globus has
     experienced substantial recurring losses from operations and at September
     30, 2001 a working capital deficiency of $837,991 and a capital deficiency
     of $684,382 exists that raises substantial doubt about its ability to
     continue as a going concern. The financial statements do not include any
     adjustments that might result from the outcome of this uncertainty.

     As mentioned above, management intends to expand their operation to include
     an internet based portal in order to continue and expand the operations of
     the business. There can be no assurance that Globus will be able to raise
     sufficient capital to continue its operations and/or general adequate cash
     flow from operations.

     Intangibles:

     Deferred consulting costs were being amortized over the life of the
     consulting agreements. Amortization charged to operations in 2000 was
     $38,128. As of September 30, 2000, these costs were fully amortized.

     Per share data:

     Net income (loss) per share was computed by the weighted average number of
     shares outstanding during each period as retroactively adjusted for the one
     for three reverse stock split in January 2001.

                                       20
<PAGE>

              GLOBUS INTERNATIONAL RESOURCES CORP. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                           SEPTEMBER 30, 2001 AND 2000

3.   Property assets:

     Property assets consist of:
                                                    2001          2000
                                                 ---------     ---------

         Data processing and office equipment    $  63,331     $  61,331
         Furniture and fixtures                     21,283        21,283
         Automobiles and trucks                     43,687        43,687
                                                 ---------     ---------

                                                   128,301       126,301
         Less:  Accumulated depreciation           120,553       105,638
                                                 ---------     ---------

                                                 $   7,748     $  20,663
                                                 =========     =========

     Depreciation expense charged to operations for the years ended September
     30, 2001 and 2000 amounted to $14,915 and $16,835, respectively.

4.   Security deposits:

     Security deposits are comprised of rent deposits relating to various
     leaseholds which the Company occupies of which $3,000 is for warehouse
     space leased from a related party (See Note 5).

                                       21
<PAGE>

              GLOBUS INTERNATIONAL RESOURCES CORP. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                           SEPTEMBER 30, 2001 AND 2000

5.   Related party transactions:

     Notes payable:

     A stockholder and the Company entered into a loan agreement in April 1996
     whereby the stockholder acquired the Company's 7% interest bearing note of
     $125,000 at par. The note was originally payable in full plus accrued
     interest on March 31, 1997. On April 30, 1997, the note was amended and the
     due date was extended to April 30, 1998. Interest charged to operations for
     the year ended September 30, 2000 was $16,620 including deferred amounts.
     No interest was charged in 2001 as the stockholder has waived the right to
     accrue more interest at this time. Accrued interest payable on this loan
     aggregated $45,500 at September 30, 2001 and 2000, and is included in
     accrued expenses - related party. In May 1997, the stockholder agreed to
     subordinate his loan to a bank which the Company owes $1,220,617. The
     stockholder verbally agreed not to demand payment of the debt as long as
     any portion of the bank note is outstanding, and the repayment date is now
     indefinite.

     On August 26, 1996, the parents of the Company's President purchased a
     subsidiary's 15% interest bearing $20,000 note at par. The note, as
     amended, is without a definite repayment date. No interest was charged in
     2001 and 2000, per the approval of the noteholder. Accrued interest payable
     to these individuals of $7,750 is included in accrued expenses at September
     30, 2001 and 2000. These creditors have agreed to subordinate this
     indebtedness to a bank which owes the Company $1,220,617 and also have
     verbally agreed not to demand payment of the debt as long as any portion of
     the bank note is outstanding.

     During the first quarter of fiscal 2000, three shareholders of the Company
     loaned the Company $156,000 due to the current cash needs of the business.
     In October 2000, $65,000 was loaned to the Company by one shareholder. This
     same shareholder loaned another $235,000 to the Company in January 2001 and
     an additional $150,000 in April 2001. As of September 30, 2001, $102,050
     was paid back to the shareholders. These amounts have no definite repayment
     terms and the shareholders have agreed not to require the accrual of
     interest.

                                       22
<PAGE>

              GLOBUS INTERNATIONAL RESOURCES CORP. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                           SEPTEMBER 30, 2001 AND 2000

5.   Related party transactions:  (continued)

     Rent payable:

     Globus and Shuttle lease warehouse space from an entity controlled by three
     of the Company's officer/directors. Rent charged to operations for the
     years ended September 30, 2001 and 2000 was $11,800. $52,075 was unpaid and
     included in accrued expenses - related parties at September 30, 2001 and
     2000, respectively. The leases which expire in 2003, require aggregate
     monthly rentals of $700.

     Officers compensation:

     In the second quarter of 2000, three officers of the Company; the
     President, CEO and Vice President agreed to receive 300,000 shares of stock
     in lieu of their salaries, which at the market value at issuance resulted
     in a $30,000 issuance of stock to each, charged to expenses during the year
     ended September 30, 2000.

6.   Financing arrangement:

     Short-term debt:

     At September 30, 2001, the Company had various credit facilities available:

         A bank note exists for direct borrowings and acceptances in the amount
         of $1,220,617 on direct borrowings, currently at 12% interest per
         annum. The line was originally $3,000,000, however, due to the
         inability of the Company to pay any portion of the balance in the last
         two years, the line has been limited to what is outstanding currently.
         The line is collateralized by the guarantees of three of the corporate
         officers/directors and a first lien on all corporate assets not
         previously pledged or collateralized. One of these shareholders and the
         parents of another have subordinated notes payable due them by the
         Company to the bank. During the year ended September 30, 2000, the
         certificates of deposit pledged as collateral were redeemed by the bank
         against the amount owed the bank. The Company is presently in
         discussions to sell a building owned by the three officers, of which
         the proceeds will be paid to the bank. At that point, the Company
         expects to restructure the present debt arrangement in order to pay it
         off in the future.

                                       23
<PAGE>
<TABLE>
<CAPTION>

              GLOBUS INTERNATIONAL RESOURCES CORP. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                           SEPTEMBER 30, 2001 AND 2000

6.   Financing arrangement:  (continued)

     Short-term debt:  (continued)

         The Company has lines of credit with four other banks totaling $275,000
         in the aggregate. $100,000 of these lines are guaranteed by an officer
         of the Company. Interest during the year ended September 30, 2001 was
         charged at various rates of 9.75% to 15%.

                                                                              2001            2000
                                                                          ------------    ------------
<S>                                                                       <C>             <C>
         Bank borrowing outstanding at
          September 30, 2001 and 2000 amounted to:

              Acceptances payable under the $1,220,617 bank note          $  1,220,617    $  1,220,617

              Other bank loans payable (3) under $275,000 credit-line           87,058          96,659
                                                                          ------------    ------------

                                                                          $  1,307,675    $  1,317,276
                                                                          ============    ============
</TABLE>

         (ii) Related parties:

         On April 7, 1996, the Company borrowed $125,000 from an
         officer/stockholder. The repayment date is indefinite as of September
         30, 2001. Interest had been accrued until September 30, 2001 at 7%. In
         2001, per approval of the noteholder. No interest was accrued.

         On August 26, 1996 the Company borrowed $20,000 from a parent of its
         President as evidenced by a 15% note. The note has no definite
         repayment date. Per the noteholder's approval, no interest was accrued
         in 2001 and 2000. Both of these notes are subordinated to a bank (see
         above) in connection with the granting of a line-of-credit to the
         Company by the bank. As long as any balance is outstanding under this
         line-of-credit, the note holders have verbally agreed not to demand
         payment of the notes and to subordinate such notes to this bank.

                                       24
<PAGE>

              GLOBUS INTERNATIONAL RESOURCES CORP. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                           SEPTEMBER 30, 2001 AND 2000

7.   Income taxes:

     The difference between income taxes computed using the statutory federal
     income tax rate and that shown in the financial statements are summarized
     as follows:

                                                       2001            2000
                                                   ------------    ------------

         Income (loss) before income taxes         $      4,206    $ (3,693,440)
                                                   ------------    ------------
         Computed tax - (benefit) at
           statutory rate                                 1,400      (1,255,000)
         State taxes net of federal tax benefit          (3,241)        (37,000)
         Reserve for net operating loss
           carryforward tax assets                        1,400       1,282,845
                                                   ------------    ------------

              Total                                $     (3,241)   $      9,155
                                                   ============    ============


     The Company has available net operating loss carryforwards of approximately
     $4,000,000. A valuation allowance of the same amount has been provided
     since management believes that uncertainty exist regarding the
     realizability of this asset.

8.   Common stock:

     (a) Common stock issued for services rendered:

         In February 2000, 300,000 shares each were issued to three officers of
         the corporation, in lieu of salaries. The $90,000 market value of these
         shares was charged to expense at September 30, 2000. Additionally
         500,000 shares were issued to two different consultants in lieu of cash
         payments for the exclusive rights to use certain software which is the
         basis for the portal described in Footnote 1. 200,000 shares were
         issued to another consultant in lieu of cash payments for services
         related to developing the business plan to the internet based portal.
         The market value of the shares recorded was recorded as prepaid costs
         based on the fact that this product has not been fully completed as of
         September 30, 2001, and when it is, the Company will use the shares as
         a down payment towards purchasing the software outright.

                                       25
<PAGE>

              GLOBUS INTERNATIONAL RESOURCES CORP. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                           SEPTEMBER 30, 2001 AND 2000

8.   Common stock:  (continued)

     (b) Reverse stock split:

         In January 2001, a one for three reverse stock split was executed by
         the Company. This was done in order to facilitate the acquisition of
         another company, e-GlobusNet Corp., which owns the specialized
         "Business to Business" software described in Footnote 1. It will become
         a wholly owned subsidiary of Globus International Resources. After the
         split, 9,833,616 shares outstanding became 3,277,872 shares. In
         acquiring e-GlobusNet Corp., the Company is expected to issue an
         additional 2,425,000 shares to e-GlobusNet Corp. shareholders from the
         treasury of Globus, under Rule 144 of SEC's Security Act of 1933, in
         exchange for all the shares of e-GlobusNet Corp. After the acquisition,
         there will be 5,702,872 shares outstanding. This has not taken place as
         of this report filing.

     (c) Warrants:

         The Company had 1,822,756 common shares reserved for issuance upon the
         exercise of warrants at $3.625. These warrant expired on June 30, 2001.


9.   Major relationships and segment information:

     The Company is comprised of two business segments with the new internet
     based business not yet deriving revenue. The distribution of food products
     and the distribution of auto paint and parts and clothing. Set forth below
     are sales, operating income, capital expenditures, depreciation and
     identifiable assets of the segments.

                                       26
<PAGE>

              GLOBUS INTERNATIONAL RESOURCES CORP. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                           SEPTEMBER 30, 2001 AND 2000


9.   Major relationships and segment information:  (continued)

                                                        For the Years Ended
                                                           September 30,
                                                        -------------------
                                                          2001       2000
                                                        --------   --------
     Net sales (000's):
         Food products                                  $  8,551   $  7,326
         Other                                               459        425
                                                        --------   --------
                                                        $  9,010   $  7,752
                                                        ========   ========
     Operating income (loss) (000's):
         Food products                                  $    220   $ (3,359)
         Other                                               (36)       (53)
                                                        --------   --------
                                                        $    184   $ (3,412)
                                                        ========   ========
     Depreciation and amortization (000's):
         Food products                                  $     18   $     82
         Other                                                 6          6
                                                        --------   --------
                                                        $     24   $     88
                                                        ========   ========
     Capital additions (000's):
         Food products                                  $      2          -
         Other                                                 -          2
                                                        --------   --------
                                                        $      2   $      2
                                                        ========   ========
     Identifiable assets (000's):
         Food products                                  $  1,967   $  1,113
         Other                                               149        490
                                                        --------   --------
                                                        $  2,116   $  1,603
                                                        ========   ========

     The food products segment has had only eleven (11) customers since it
     started shipments in August 1995. One customer accounted for 63% of the
     food products segment's sales for fiscal 2000 but had no sales in 2001.
     Sales of this segment's products for another customer were 42% in 2001. The
     first year if sold to them. Another customer accounted for 36% and 24.1% in
     2001 and 2000, respectively.

     The other segments' sales were to nine (9) customers of which one customer
     accounted for 87% and 65% of sales for the years September 30, 2001 and
     2000, respectively.

                                       27
<PAGE>

              GLOBUS INTERNATIONAL RESOURCES CORP. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                           SEPTEMBER 30, 2001 AND 2000

10.  Commitment and contingencies:

     Leases:

     The Company is a lessee under three operating real property leases for
     office and warehouse space. Rent expense charged to operations for the
     years ended September 30, 2001 and 2000 was $84,694 and $81,765,
     respectively. Future minimum annual rent commitments as of the Company's
     fiscal year-end are as follows:

                           Years Ended
                           September 30,                    Amount
                           -------------                  ---------

                            2002 - 2003                   $ 96,480


11.  Commitment and contingencies:

     Consulting agreement:

     In 1996, the Company entered into a four year consulting services agreement
     with Crabbe Capital Group Ltd. under which the consultant shall (i)
     introduce the Company to the consultant's network of domestic and
     international commercial banking sources, advise and assist the Company in
     identifying, studying, and evaluating interest and exchange rate
     fluctuations, and (iii) assist the Company in securing letters of credit
     and review commercial banking alliances and strategies. The Company issued
     to the consultant 325,000 shares of its common stock as compensation for
     its services. The fair value of the 325,000 shares of common stock issued
     of $195,000 was being amortized and charged to operations over the life of
     the consulting agreement. This amount was fully amortized as of September
     30, 2000. Amortization charged to operations in fiscal 2000 was $38,128.

                                       28