UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-KSB

                  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934
                   For the Fiscal Year Ended December 31, 2001

                        Commission file number 001-15301

                              INNOTECH CORPORATION
                              --------------------
                    (formerly known as EquityAlert.com, Inc.)
           (Name of small business issuer as specified in its charter)

 NEVADA                                                       58-2377963
 ------------                                              ---------------
(State or other jurisdiction of                          (I.R.S. Employer
incorporation or organization)                           Identification No.)

1628 West 1st Avenue, Suite 216,  Vancouver, B.C.           V6J 1G1
-------------------------------------------------          ----------
(Address of principal executive offices)                   (Zip Code)

Registrant's telephone number, including area code:       (604) 659-5009

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

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

       Common Stock, $.00001 par value, listed on the OTC Bulletin Board
       -----------------------------------------------------------------

Indicate  by check  mark  whether  the  registrant:  (1) has filed  all  reports
required by Section 13 or 15 (d) of the  Securities  Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required to file such reports),  and (2) has been subject to such filing for the
past 90 days. Yes [X] No [_]

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation  S-K is not contained  herein,  and will not be contained,  to the
best  of  the  registrant's   knowledge,  in  definitive  proxy  or  information
statements  incorporated  by  reference  in Part  III of this  Form  10-K or any
amendment to this Form 10-K [X]

Revenues for last fiscal year were $1,298,164

Aggregate   market  value  of  Common  Stock,   $0.00001  par  value,   held  by
non-affiliates  of the registrant as of March 15th,  2002:  $100,804.  Number of
shares of Common Stock, $0.00001 par value,  outstanding as of March 26th, 2002:
1,648,081.

<PAGE>

                          ANNUAL REPORT ON FORM 10-KSB
                   FOR THE FISCAL YEAR ENDED DECEMBER 31, 2001

<TABLE>
                                TABLE OF CONTENTS
<CAPTION>

PART I                                                                                  Page
<S>                                                                                     <C>
Item  1. Description of Business                                                        3

Item  2. Description of Property                                                        5

Item  3. Legal Proceedings                                                              5

Item  4. Submissions of Matters to a Vote of Security Holders                           6

PART II

Item  5. Market for the Registrants' Common Equity and Related Stock-
         holder Matters                                                                 6

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

Item  7. Financial Statements                                                           9

Item  8. Changes in and Disagreements With Accountants on Accounting and
         Financial Disclosure                                                           21

PART III

Item  9. Directors and Executive Officers of the Registrant                             21

Item 10. Executive Compensation                                                         21

Item 11. Security Ownership of Certain Beneficial Owners and Management                 21

Item 12. Certain Relationships and Related Transactions                                 21

PART IV

Item 13. Exhibits and Reports on Form 8-K                                               21

</TABLE>

PART I

ITEM 1. DESCRIPTION OF BUSINESS

Except for the historical  information  contained herein, the discussion in this
Annual Report on Form 10-KSB contains  certain  forward-looking  statements that
involve risk and  uncertainties,  such as  statements  of the  Company's  plans,
objectives,  expectations and intentions. The cautionary statements made in this
document  should be read as being  applicable  to all related  forward-  looking
statements  wherever they appear in this document.  The Company's actual results
could differ  materially from those discussed  herein.  Factors that could cause
differences  include those discussed  below in "Risk Factors",  as well as those
discussed elsewhere herein.

                                  THE COMPANY

Innotech  Corporation  (formerly known as EquityAlert.com,  Inc.) ("Innotech" or
the   "Company")   operates   as   financial   news    redistribution    website
(www.EquityAlert.com),  and also provides, amongst other information,  real time
news  alerts on US stocks  and  mutual  fund news and  information  alerts.  The
Company was  incorporated  under the laws of the State of Florida on January 13,
1997, under the name of San Marino Minerals, Inc. On March 10, 1999, the Company
filed  Articles of Merger in the State of Nevada to transfer  domicile to Nevada
and on June 3, 1999, the Company amended its articles of incorporation to change
its name to  EquityAlert.com,  Inc. On September 8, 2000, Email Solutions,  Inc.
was formed in the State of Nevada as a wholly owned subsidiary. On September 15,
2000 this subsidiary was sold to Entheos  Technologies,  Inc. for $283,000.  The
director and majority  shareholder of Innotech is also the director and majority
shareholder of Entheos.

At a shareholder's meeting held on July 12, 2001, a majority of the shareholders
approved a change in the company's name from  Equityalert.com,  Inc. to Innotech
Corporation.  The  shareholders  also  approved  an  increase  in the  company's
authorized shares of common stock, par value $0.00001,  from one hundred million
(100,000,000) to three hundred million  (300,000,000) shares, with the par value
remaining the same. Additionally, the shareholders approved a 25:1 reverse split
of the company's  outstanding shares of common stock, to be effective as of July
30, 2001. On July 31, 2001, Innotech Corporation formed EquityAlert.com, Inc. as
a Nevada  incorporated  wholly owned subsidiary  through which the operations of
its online business, www.equityalert.com, will be conducted.

With the proliferation of financial  information on the Internet,  more and more
individuals  are  taking  greater  control  of  their  investments  and  trading
securities through an online broker versus the traditional securities broker.

The online  investor  represents one of the most desirable of any demographic on
the web, being better  educated,  having a higher income and net worth than most
other online users. The competition for online  investors is intense,  with many
better  capitalized  and well managed  companies  offering  similar  information
services as  EquityAlert.com.  This competition  comes from direct  competitors,
such as traditional media sources and websites like SmartMoney.com,  Multex.com,
Moneycentral.com,  Barrons.com,  Morningstar.com and hundreds of others, as well
as from many indirect  competitors,  such as online  brokerage  firms and online
portals such as Yahoo and America Online.

Since  launching  EquityAlert.com  on June 7, 1999, the Company's main focus has
been to build its subscriber  base of online  investors by offering  individuals
free  subscriptions  to  its  website  and  to  generate  advertising  revenues.
Subscribers to Innotech's free website enjoy a broad suite of financial news and
information, including insider trading information, insurance, mortgage and loan
information,  online banking,  consumer credit and charge card products,  mutual
fund news  alerts via email,  conference  calls,  and much more,  including  the
Company's  most popular  feature - free real time public company news alerts via
email.

Employees

At December 31, 2001, the Company employed 6 full time and 1 part-time  persons.
To the  best of the  Company's  knowledge,  none of the  Company's  officers  or
directors is bound by restrictive  covenants from prior  employers.  None of the
Company's  employees  are  represented  by  labor  unions  or  other  collective
bargaining  groups. The Company considers its relationship with its employees to
be excellent. Risk Factors of the Business

<PAGE>

Lack of Operating  History:  Although we organized  Innotech in 1997, we did not
become active until June 1999. As a result, our business is subject to the risks
inherent in the  establishment of a new business.  Specifically,  in formulating
our business plan, we have relied on the judgment of our officers, directors and
consultants  but  have not  conducted  any  formal  independent  market  studies
concerning the demand for our services.

We have had  limited  revenues  since  inception.  In 2001,  we had  revenues of
$1,298,164.  We have not been  profitable,  experiencing an accumulated  loss of
$1,181,895  through 2001. Even if we become  profitable in the future, we cannot
accurately  predict  the level  of, or our  ability  to  sustain  profitability.
Because we have not yet been  profitable  and cannot predict any level of future
profitability,  you bear the risk of a complete  loss of your  investment in the
event our business plan is unsuccessful.

Inability to Obtain  Funding:  We may not be able to obtain  additional  funding
when needed, which could limit future expansion and marketing  opportunities and
result in lower than  anticipated  revenues.  If the market  price of the common
stock  declines,  some  potential  financiers  may either refuse to offer us any
financing or will offer financing at unacceptable rates or unfavorable terms. If
we  are  unable  to  obtain  financing  on  favorable  terms,  or at  all,  this
unavailability  could  prevent  us from  expanding  our  business,  which  could
materially impact our future potential revenues.

Dividends: We have not paid and do not currently intend to pay dividends,  which
may limit the current  return you may receive on your  investment  in our common
stock.  Since inception,  we have paid no dividends to our stockholders.  Future
dividends  on our common  stock,  if any,  will  depend on our future  earnings,
capital requirements, financial condition and other factors. We currently intend
to retain earnings,  if any, to increase our net worth and reserves.  Therefore,
we do not  anticipate  that any holder of common  stock will  receive  any cash,
stock or other  dividends  on his shares of common stock at any time in the near
future. You should not expect or rely on the potential payment of dividends as a
source of current income.

Dependence  on Executive  Officers and Technical  Personnel:  The success of our
business plan depends on attracting qualified  personnel,  and failure to retain
the necessary  personnel  could  adversely  affect our  business.  We are highly
dependent on the services of our  executive  officer,  Mr. Bill Mann.  We do not
have  any  employment  agreements  with our  executive  officers.  In  addition,
competition for qualified  personnel is intense,  and we may need to pay premium
wages to attract  and  retain  personnel.  Attracting  and  retaining  qualified
personnel  is  critical  to our  business.  Inability  to attract and retain the
qualified  personnel necessary would limit our ability to implement our business
plan successfully.

Adverse Effect of Shares Eligible for Future Sale: Future sales of large amounts
of common stock could adversely  effect the market price of our common stock and
our ability to raise capital.

Future sales of our common stock by existing  stockholders  pursuant to Rule 144
under the  Securities  Act of 1933,  or following  the  exercise of  outstanding
options,   could  adversely  affect  the  market  price  of  our  common  stock.
Substantially  all of the  outstanding  shares of our  common  stock are  freely
tradable,  without  restriction or registration  under the Securities Act, other
than the  sales  volume  restrictions  of Rule 144  applicable  to  shares  held
beneficially  by persons who may be deemed to be  affiliates.  Our directors and
executive  officers  and their family  members are not under  lockup  letters or
other forms of  restriction  on the sale of their common stock.  The issuance of
any or all of these  additional  shares upon exercise of options will dilute the
voting power of our current  stockholders on corporate matters and, as a result,
may cause the market price of our common stock to decrease.  Further, sales of a
large  number of shares of common  stock in the public  market  could  adversely
affect the  market  price of the common  stock and could  materially  impair our
future  ability to generate  funds through sales of common stock or other equity
securities.

Potential  Fluctuations  in Quarterly  Results:  Significant  variations  in our
quarterly  operating results may adversely affect the market price of our common
stock. Our operating results have varied on a quarterly basis during our limited
operating  history,  and we expect to  experience  significant  fluctuations  in
future quarterly operating results.  These fluctuations have been and may in the
future be caused by numerous factors,  many of which are outside of our control.
We believe that  period-to-period  comparisons of our results of operations will
not  necessarily  be  meaningful  and that you  should  not rely upon them as an
indication of future performance.  Also, it is likely that our operating results
could be below the  expectations of public market  analysts and investors.  This
could adversely affect the market price of our common stock.

<PAGE>

Introduction  of New Services  Mandatory:  Our future success will depend on our
ability to develop and enhance our  services.  We operate in a very  competitive
industry in which the ability to develop and deliver  advanced  services through
the Internet is a key competitive  factor.  There are  significant  risks in the
development  of new or  enhanced  services.  If we are  unable  to  develop  and
introduce  new or  enhanced  services  quickly  enough to  respond  to market or
customer requirements or to comply with emerging industry standards, or if these
services do not achieve  market  acceptance,  our  business  could be  seriously
harmed.

Intense  Competition:  There  is  intense  competition  in  all  aspects  of our
business,  and we expect this  competition to increase.  Many of our competitors
have longer operating histories and significantly  greater financial,  technical
and marketing resources than us. In addition,  many of these competitors offer a
wider range of services  and  financial  products.  Many  current and  potential
competitors also have greater name recognition and more extensive customer bases
that could be leveraged to  accelerate  their  competitive  activity.  We cannot
assure you that we will be able to compete  effectively  with  current or future
competitors  or that  the  competitive  pressures  faced by us will not harm our
business.

Dependence on Financial  Advertisers:  In fiscal 2001,  substantially all of our
advertising revenues were derived from financial-services advertisers and public
companies.  If we do  not  increase  our  revenue  from  non  financial-services
advertisers or attract advertisers from non-financial industries,  our business,
results of operations  and  financial  condition  could be materially  adversely
affected.

Intellectual Property
---------------------

The Company relies on a combination  of trademarks,  copyright law, trade secret
protection,  confidentiality  agreements and other contractual arrangements with
employees,  vendors and others to protect its rights to  intellectual  property.
Theses  measures,  however,  may be  inadequate  to  deter  misappropriation  of
proprietary information. Failure to adequately protect its intellectual property
could harm the Company's brand,  devalue its proprietary  content and affect the
Company's ability to compete effectively.

Environmental Matters
---------------------

The  Company   believes  it  conducts  its  business  in  compliance   with  all
environmental laws presently  applicable to its facilities.  To date, there have
been no expenses incurred by the Company related to environmental issues.

Government Regulation
----------------------

The Company is not subject to any direct governmental  regulation other than the
securities laws and regulations applicable to all publicly owned companies,  and
laws and regulations applicable to businesses generally.

ITEM 2: DESCRIPTION OF PROPERTY

The Company  leases  approximately  1500 square feet of office space  located at
Suite 216,  1628 West 1st Avenue,  Vancouver,  BC, V6J 1G1. The office is leased
for a period of three years ending August 31, 2003,  with an option to renew for
a further three years,  from Tajinder  Chohan and Kundan S. Rayat,  the wife and
father,  respectively,  of  the  Company's  Chairman,  for a  lease  payment  of
approximately $2,450 per month.

ITEM 3: LEGAL PROCEEDINGS

The Company is not involved in any pending legal proceedings.

<PAGE>

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

There were no matters  submitted to a vote of the security holders in the fourth
quarter of the fiscal year covered by this report.

PART II

ITEM 5:  MARKET  FOR THE  REGISTRANT'S  COMMON  EQUITY AND  RELATED  STOCKHOLDER
         MATTERS.

(a)     Market Information

The Company's  Common Stock is listed on the OTC Bulletin Board under the symbol
"EINC".  The following  table sets forth the high and low closing prices for the
periods indicated:

<TABLE>
<CAPTION>
                                                                       High                      Low
                                                                       ----                      ---
<S>                                                                    <C>                       <C>
First Quarter 2000                                                     $   134.38                $  87.50
Second Quarter 2000                                                    $    53.13                $  25.25
Third Quarter 2000                                                     $    18.75                $  15.63
Fourth Quarter 2000                                                    $    10.95                $   2.50
First Quarter 2001                                                     $     2.00                $   0.92
Second Quarter 2001                                                    $     1.00                $   1.00
Third Quarter 2001                                                     $     0.26                $   0.11
Fourth Quarter 2001                                                    $     0.35                $   0.11

</TABLE>

(b)     Holders

As at March 21, 2001 there were  approximately  70  registered  stockholders  of
record of the Company's Common Stock.

(c)     Dividend Policy

The  Company  has never  paid a  dividend  and does not  anticipate  paying  any
dividends in the  foreseeable  future.  It is the present policy of the Board of
Directors to retain the Company's  earnings,  if any, for the development of the
Company's business.

ITEM 6: MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

The  following  discussion  should  be read in  conjunction  with the  financial
statements and notes thereto included in Item 7 of this Form 10-KSB.  Except for
the  historical  information  contained  herein,  the  discussion in this Annual
Report on Form 10-KSB contains certain  forward-looking  statements that involve
risk and uncertainties,  such as statements of the Company's plans,  objectives,
expectations  and  intentions.  The cautionary  statements made in this document
should be read as being  applicable  to all related  forward-looking  statements
wherever they appear in this document. The Company's actual results could differ
materially  from those  discussed  here.  Factors  that could cause  differences
include those discussed in "Risk Factors of the Business",  as well as discussed
elsewhere herein.

<PAGE>

OVERVIEW

The  Company  operates  a  financial  news and  information  website  located at
www.EquityAlert.com.  Since  launching  EquityAlert.com  on  June 7,  1999,  the
Company's main focus has been to build its subscriber  base of online  investors
by  offering  individuals  free  subscriptions  to its  website  and to generate
advertising revenues.

Subscribers to Innotech's free website enjoy a broad suite of financial news and
information,   including   insider   trading,   insurance,   mortgage  and  loan
information,  online banking,  consumer credit and charge card products,  mutual
fund news  alerts via email,  conference  calls,  and much more,  including  the
Company's  most popular  feature - free real time public company news alerts via
email.

The Company  expects to generate  substantially  all of its future revenues from
advertising  sales.  To date,  the  Company  has  incurred  significant  ongoing
operating  losses  due to costs  related  to  business  development,  sales  and
marketing,  website  development and management and staff recruitment.  Although
planned principal operations have commenced, substantial revenues have yet to be
realized.

RESULTS OF OPERATIONS

Revenues.  The  Company  generated  revenues  of  $1,298,164  for the year ended
December 31, 2001,  versus $1,374,127 for the year ended December 31, 2000. This
decrease of $75,963,  or 6%, is a direct  result of lower  advertising  receipts
during the year.

Cost  of  Revenues.  During  2001,  the  Company  incurred  $981,503  in cost of
revenues,  a  marginal  increase  of .005 %, or  $4823,  over 2000  expenses  of
$976,680.

General and Administrative Expenses.  During 2001, the Company incurred $479,164
in general and administrative expenses, a decrease of 2.8% over 2000 expenses of
$493,145.

Interest  Income.  Interest  income was  $20,073 and $37,262 for the years ended
December 31, 2001 and 2000, respectively.  Interest earned in the future will be
dependent on Company funding cycles and prevailing interest rates.

Provision for Income Taxes.  As of December 31, 2001, the Company's  accumulated
deficit was $1,181,895  and as a result,  there has been no provision for income
taxes to date.

Net Loss. For the year ended December 31, 2001, the Company  recorded a net loss
of $142,430 versus a net loss of $55,845 for the same twelve month period ending
December 31, 2000. This increase in net of loss of $86,585, or 155%, is a direct
result of lower advertising receipts during the year.

LIQUIDITY AND CAPITAL RESOURCES

At December 31, 2001, the Company had a cash balance of $623,691,  compared to a
cash balance of $844,626 at December 31, 2000.

During 2000, net cash used in operating activities was $93,526,  versus net cash
provided by operating  activities of $308,865 in 2000.  This change is primarily
due to an  increase  in  accounts  payable of  $92,512,  versus an  increase  in
accounts payable of $315,077 in the previous year.

Net cash flows used in investing activities for the year ended December 31, 2001
was $127,409  versus $56,219 the previous  year,  primarily due to difference of
$42,409  representing  realized  losses  from  the  sale  of  marketable  equity
securities versus their cost and an advance to a related party of $40,000.

The Company's principal source of liquidity is cash in bank, which is sufficient
to meet its  operating  needs for at least the next twelve  months.  The Company
incurs   management  fees  from  the  services  of  its  chairman  and  majority
shareholder at the rate of $12,000 per month, which will result in a decrease in
the Company's  cash  position  unless the debt is converted to equity in lieu of
cash paid.

The Company's future funding requirements will depend on numerous factors. These
factors  include the  Company's  ability to  establish  and  profitably  operate
EquityAlert.com,  recruit and train  qualified  management,  technical and sales
personnel,   and  the  Company's  ability  to  compete  against  other,   better
capitalized corporations who offer similar web based services.

<PAGE>

Due to the "start up" nature of the Company's businesses, the Company expects to
incur  losses as it  expands.  The  Company  expects to raise  additional  funds
through  private or public  equity  investment  in order to expand the range and
scope of its  business  operations.  The Company  will seek access to private or
public  equity  but there is no  assurance  that such  additional  funds will be
available for the Company to finance its operations on acceptable  terms,  if at
all.  These and other  material  factors are  explained  under the heading "Risk
Factors of the Business".

RELATED PARTY TRANSACTIONS

Advances to related  parties of $40,500 at December  31, 2001  represents  funds
advanced to a shareholder bearing interest at 4.75% per annum and due in full on
September 26, 2002.

Loans from related  parties of $42,017 at December 31, 2000 represent  unsecured
advances  from the  director  and  majority  shareholder.  The  amounts  bear no
interest and are due on demand. The amount was paid in full in March 2001.

On September  15, 2000,  the Company sold 100% of the voting common stock of its
wholly-owned subsidiary, Email Solutions, Inc., a Nevada Corporation, to Entheos
Technologies,  Inc.,  for  $283,000.  Email  Solutions,  Inc.'s  assets  consist
principally of software and computer hardware  equipment used in the emailing of
Innotech's public company and mutual fund news alerts. Entheos provides emailing
services for the Company.  The director and majority  shareholder of Innotech is
also the director and majority shareholder of Entheos. Included in the statement
of operations is a gain on the sale of the transaction of $27,591.

During  2000,  the Company  charged  $144,000  and  $100,000 to  operations  for
management  and consulting  fees incurred for services  rendered by the Chairman
and majority shareholder.  Included in accounts payable at December 31, 2001 and
2000 is a payable of $220,667 and $88,000 for these fees.  The Company also paid
$22,847 to one of the Company's stockholders for consulting services rendered.

The Company  leases  approximately  1500 square feet of office space  located at
Suite 216,  1628 West 1st Avenue,  Vancouver,  BC, V6J 1G1. The office is leased
for a period of three years ending August 31, 2003,  with an option to renew for
a further three years,  from Tajinder  Chohan and Kundan S. Rayat,  the wife and
father,  respectively,  of  the  Company's  Chairman,  for a  lease  payment  of
approximately $2,450 per month.

<PAGE>

ITEM 7: FINANCIAL STATEMENTS


<TABLE>
                                TABLE OF CONTENTS
<CAPTION>

<S>                                                                                                        <C>
Independent Auditors' Report.............................................................................. 10

Consolidated Balance Sheets at December 31, 2001 and 2000................................................. 11

Consolidated Statements of Operations for the years ended
December 31, 2001 and 2000................................................................................ 12

Consolidated Statements of Stockholders' Equity for the years ended
December 31, 2001 and 2000................................................................................ 13

Consolidated Statements of Cash Flows for the years ended
December 31, 2001 and 2000................................................................................ 14

Notes to the Consolidated Financial Statements.............................................................15- 20

</TABLE>

<PAGE>

                          INDEPENDENT AUDITORS' REPORT


To the Board of Directors and Shareholders of
Innotech Corporation

We  have  audited  the  consolidated  balance  sheets  of  Innotech  Corporation
(formerly known as Equityalert.com,  Inc.) (a Nevada corporation) as of December
31, 2001 and 2000 and the related statements of operations, 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 audits in accordance with auditing standards generally accepted
in the United States. Those standards require that we plan and perform the audit
to obtain reasonable  assurance about whether the financial  statements are free
of material misstatement. An audit includes examining, on a test basis, evidence
supporting  the amounts and  disclosures in the financial  statements.  An audit
also includes assessing the accounting principles used and significant estimates
made by  management,  as well as  evaluating  the  overall  financial  statement
presentation.  We believe  that our audits  provide a  reasonable  basis for our
opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all  material  respects,   the  consolidated   financial  position  of  Innotech
Corporation at December 31, 2001 and 2000, and the consolidated results of their
operations  and their cash flows for the years then ended,  in  conformity  with
accounting principles generally accepted in the United States.


/s/  Clancy and Co., P.L.L.C.
-----------------------------
Clancy and Co., P.L.L.C.
Phoenix, Arizona

March 15, 2002


<PAGE>


                              INNOTECH CORPORATION
                    (formerly known as Equityalert.com, Inc.)
                           CONSOLIDATED BALANCE SHEETS
                           DECEMBER 31, 2001 AND 2000

<TABLE>
<CAPTION>
ASSETS                                                                       2001             2000
------                                                                       ----             ----
<S>                                                                          <C>              <C>
Current Assets
   Cash and Cash Equivalents                                                 $   623,691      $ 844,626

   Accounts Receivable                                                                 0          6,875
   Marketable Equity Securities (Note 3)                                         100,004              0
   Advances to Related Party (Note 5)                                             40,500              0
   Prepaid Expenses                                                                2,333              0
                                                                                   -----          -----
Total Current Assets                                                             766,528        851,501

Property and Equipment, net (Note 4)                                              28,055         60,053
                                                                                  ------         ------

Total Assets                                                                 $   794,583      $ 911,554
                                                                                 =======        =======

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities
   Accounts Payable                                                          $   432,566      $ 340,054
   Loans from Related Parties (Note 5)                                                 0         42,017
                                                                                       -         ------
Total Current Liabilities                                                        432,566        382,071

Commitments and Contingencies (Note 8)                                                 -              -

Stockholders' Equity
Preferred Stock:  $0.001 Par Value; Authorized Shares, 1,000,000;
    Issued and Outstanding:  None                                                      0              0
Common Stock: $0.00001 Par Value; Authorized Shares, 300,000,000;
    Issued and Outstanding:  1,648,081                                                16             16
Additional Paid In Capital                                                     1,568,932      1,568,932
Other Comprehensive Loss                                                         (25,036)             0
Accumulated Deficit                                                           (1,181,895)    (1,039,465)
                                                                             -----------    -----------
Total Stockholders' Equity                                                       362,017        529,483
                                                                                 -------        -------

Total Liabilities and Stockholders' Equity                                   $   794,583      $ 911,554
                                                                                 =======        =======

</TABLE>

    The accompanying notes are an integral part of these financial statements


<PAGE>

                              INNOTECH CORPORATION
                    (formerly known as Equityalert.com, Inc.)
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                 FOR THE YEARS ENDED DECEMBER 31, 2001 AND 2000

<TABLE>
<CAPTION>
Year Ended December 31:                                                  2001              2000
                                                                         ----              ----
<S>                                                                      <C>               <C>
Revenues                                                                 $  1,298,164      $  1,374,127
Costs of Revenues                                                             981,503           976,680
                                                                              -------           -------
Gross Margin                                                                  316,661           397,447

Selling, General and Administrative Expenses                                  479,164           493,145
                                                                              -------           -------

Operating Loss                                                               (162,503)          (95,698)

Other Income (Loss)
   Interest Income                                                             20,073            37,262
   Bad Debt Expenses                                                                0          (25,000)
   Gain on Sale of Subsidiary (Note 5)                                              0            27,591
                                                                                    -            ------
Total Other Income (Expense)                                                   20,073            39,853
                                                                               ------            ------

Net Loss Available to Common Stockholders                                $  (142,430)       $  (55,845)
                                                                             ========          ========

Basic and Diluted Loss Per Common Share                                   $    (0.09)       $    (0.03)
                                                                               ======            ======

Weighted Average Number of Common Shares
      Outstanding:  Basic and Diluted                                       1,648,081         1,648,081
                                                                            =========         =========

</TABLE>

    The accompanying notes are an integral part of these financial statements


<PAGE>


                              INNOTECH CORPORATION
                    (formerly known as Equityaler.com, Inc.)
                 CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
                 FOR THE YEARS ENDED DECEMBER 31, 2001 AND 2000


<TABLE>
<CAPTION>
                                                                                                       Accumulated
                                     Preferred   Common      Common     Additional                     Other
                                     Stock       Stock       Stock      Paid In       Accumulated      Comprehensive
                                     Shares      Shares      Amount     Capital       Deficit          Loss          Total
                                     ------      ------      ------     -------       -------          ----          -----
<S>                                  <C>         <C>         <C>        <C>           <C>              <C>           <C>
Balance, December 31, 1999                  -    1,655,961     $   17  $ 1,568,931    $ (983,620)               -    $ 585,328
Common Stock Canceled                              (7,880)        (1)            1                                           0
Net Loss                                                            -                    (55,845)               -     (55,845)
                                    -----------------------------   - --------------     -------- ---------------     --------
                                            -            -                       -
Balance, December 31, 2000                       1,648,081         16    1,568,932    (1,039,465)               -      529,483
Unrealized Losses on Marketable
    Equity Securities                                                                                    (25,036)     (25,036)
Net Loss                                                            -                   (142,430)               -    (142,430)
                                    -----------------------------   - ---------------   --------- ------------  -    ---------
                                            -            -                       -
Balance, December 31, 2001                  -    1,648,081  $      16  $ 1,568,932   $(1,181,895)    $   (25,036)    $ 362,017
                                                 =========     ======    =========    ==========         ========      =======
</TABLE>

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

<PAGE>


                              INNOTECH CORPORATION
                    (formerly known as Equityalert.com, Inc.)
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                 FOR THE YEARS ENDED DECEMBER 31, 2001 AND 2000

<TABLE>
<CAPTION>
Year Ended December 31:                                                      2001             2000
                                                                             ----             ----
<S>                                                                          <C>              <C>
Cash Flows From Operating Activities
Net Loss                                                                     $      (142,430) $         (55,845)
Adjustments to Reconcile Net Loss to Net Cash Provided By
(Used In) Operating Activities
     Revenue Recognized from Services Rendered                                       (82,631)                 0
     Depreciation                                                                      34,981            75,025
     Gain on Sale of Subsidiary                                                             0          (27,591)
Changes in Assets and Liabilities
   (Increase) Decrease in Accounts Receivable                                           6,875           (6,875)
   (Increase) Decrease in Prepaid Expenses                                            (2,333)             9,074
   (Increase) Decrease in Accrued Interest Receivable                                   (500)                 0
    Increase (Decrease) in Accounts Payable                                            92,512           315,077
                                                                                       ------           -------
Total Adjustments                                                                      48,904           364,710
                                                                                       ------           -------
Net Cash Flows Provided By (Used In) Operating Activities                            (93,526)           308,865

Cash Flows From Investing Activities
   Purchase of Property and Equipment                                                 (2,983)         (371,236)
   Proceeds from the Sale of Email Solutions, Inc.                                          0           283,000
   Proceeds from the Sale of Marketable Equity Securities                             884,255                 0
   Costs of Marketable Equity Securities Acquired                                   (926,664)                 0
   Advances to Related Parties                                                       (40,000)                 0
   Advances from Related Parties                                                            0            42,017
   Repayments to Related Parties                                                     (42,017)                 0
   Repayments from Related Parties                                                          0          (10,000)
                                                                             ------------   -          --------
Net Cash Flows Used In Investing Activities                                         (127,409)          (56,219)

Cash Flows From Financing Activities                                                        -                 -
------------------------------------

Increase (Decrease) in Cash and Cash Equivalents                                    (220,935)           252,646
Cash and Cash Equivalents, Beginning of Year                                          844,626           591,980
                                                                                      -------           -------
Cash and Cash Equivalents, End of Year                                            $   623,691       $   844,626
                                                                                      =======           =======

Cash paid for interest and income taxes:                                                    -                 -

</TABLE>

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

<PAGE>


                              INNOTECH CORPORATION
                    (formerly known as Equityalert.com, Inc.)
                        NOTES TO THE FINANCIAL STATEMENTS
                           DECEMBER 31, 2001 AND 2000

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization. Innotech Corporation (the Company) is a Nevada Corporation with an
authorized  capital  of  301,000,000  shares  of which  300,000,000  shares  are
$0.00001  par value  common  stock and  1,000,000  shares  are  $0.001 par value
preferred stock.

Nature of  Operations.  The Company  provides  online  investors  real time news
alerts on U.S. and Canadian  stocks,  mutual fund news and  information  alerts,
insider trading, SEC filings and IPO information.

Summary of Significant Accounting Policies.

Accounting  Method - The  Company  uses the  accrual  method of  accounting  for
financial statement purposes.

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

Principles of Consolidation - The accompanying consolidated financial statements
include  the  accounts  of  the  Company  and  its  wholly   owned   subsidiary,
Equityalert.com,  Inc. All significant  intercompany  transactions  and balances
have been eliminated in consolidation.

Cash and Cash Equivalents - The Company considers all highly liquid  instruments
purchased  with  an  original  maturity  of  three  months  or  less  to be cash
equivalents.

Concentration  of Credit Risk - The Company  maintains U.S. Dollar cash balances
in Canadian banks that are not insured.

Revenue   Recognition   -  Revenues  are  derived  from  the  sale  of  prepaid,
nonrefundable  advertising  agreements  and are  recognized  over the period the
services are performed,  in accordance with Staff  Accounting  Bulletin No. 101,
"Revenue  Recognition In Financial  Statements."  Additionally,  in lieu of cash
payments  and in the  normal  course  of  operations,  the  Company  trades  its
advertising services for shares of common stock in other public companies, which
are primarily  over-the-counter bulletin board companies. The Company values the
shares received based on the five-day average closing price prior to the date of
a signed advertising agreement recognizes revenue equal to the fair market value
of the services  rendered,  but not more than the amount realized from the sales
of those related securities.

Property  and  Equipment  -  Property  and  equipment  is  stated at cost and is
depreciated  under the  straight-line  method over their estimated  useful lives
ranging from three to seven years.

Long-Lived  Assets - The Company records  impairment losses on long-lived assets
used in operation when indicators of impairment are present and the undiscounted
cash flows  estimated  to be generated by those assets are less than the assets'
carrying amount.

Advertising  Costs  -  Advertising   costs  are  expensed  as  incurred.   Total
advertising  costs  charged to  operations  for 2001 and 2000 were  $56,749  and
$129,796, respectively.

Income Taxes - The Company  accounts for income  taxes under the  provisions  of
Statement of Financial  Accounting  Standards ("SFAS") No. 109,  "Accounting for
Income Taxes." Under SFAS No. 109,  deferred  income tax assets and  liabilities
are computed for differences  between the financial  statements and tax bases of
assets and liabilities that will result in taxable or deductible  amounts in the
future,  based on  enacted  tax laws and  rates  applicable  to the  periods  in

<PAGE>

                              INNOTECH CORPORATION
                   (formerly known as Equityalert.com, Inc.)
                        NOTES TO THE FINANCIAL STATEMENTS
                           DECEMBER 31, 2001 AND 2000

which  the  differences  are  expected  to  affect  taxable  income.   Valuation
allowances are established when necessary,  to reduce deferred income tax assets
to the amount expected to be realized.

Earnings  Per Share - Basic  earnings or loss per share is based on the weighted
average number of common shares outstanding.  Diluted earnings or loss per share
is based on the  weighted  average  number  of  common  shares  outstanding  and
dilutive common stock equivalents.  Basic earnings/loss per share is computed by
dividing  income/loss  (numerator)  applicable  to  common  stockholders  by the
weighted  average  number of common  shares  outstanding  (denominator)  for the
period.  All earnings or loss per share amounts in the financial  statements are
basic  earnings  or loss per share,  as defined by SFAS No. 128,  "Earnings  Per
Share." Diluted earnings or loss per share does not differ materially from basic
earnings or loss per share for all  periods  presented.  Convertible  securities
that could  potentially  dilute  basic  earnings per share in the future such as
options and warrants are not included in the computation of diluted earnings per
share  because  to do so would be  antidilutive.  All per  share  and per  share
information  are adjusted  retroactively  to reflect stock splits and changes in
par value.

Stock-Based  Compensation - The Company  accounts for  stock-based  compensation
using the  intrinsic  value method  prescribed in  Accounting  Principles  Board
Opinion No. 25,  "Accounting for Stock Issued to Employees."  Compensation  cost
for stock options,  if any, is measured as the excess of the quoted market price
of the Company's stock at the date of grant over the amount an employee must pay
to acquire the stock. SFAS No. 123,  "Accounting for Stock-Based  Compensation,"
established  accounting and  disclosure  requirements  using a  fair-value-based
method of accounting for stock-based  employee  compensation  plans. The Company
has elected to remain on its current  method of accounting  as described  above,
and has adopted the disclosure requirements of SFAS No. 123.

Comprehensive  Income - The Company includes items of other comprehensive income
by their nature in a financial statement and displays the accumulated balance of
other comprehensive income separately from retained earnings and additional paid
in capital in the equity section of the balance sheet.

Capital  Structure - The Company  discloses its capital  structure in accordance
with SFAS No. 129,  "Disclosure of Information  about Capital  Structure," which
establishes  standards  for  disclosing  information  about an entity's  capital
structure.

Start-up Expenses - The Company expenses  start-up costs and organization  costs
for financial  statement  purposes pursuant to AICPA Statement of Position 98-5,
"Reporting on the Costs of Start-up  Activities."  For income tax purposes,  the
Company has elected to treat its  organization  costs as deferred  expenses  and
amortize  them over a period of sixty  months,  beginning in the first month the
Company was actively in business, which was January 2000.

Foreign  Currency  Translation - The Company  maintains  both U.S.  Dollar and a
Canadian Dollar bank account at a financial  institution in Canada.  Transaction
gains and losses that arise from  exchange  rate  fluctuations  on  transactions
denominated in a currency other than the functional currency,  which is the U.S.
Dollar,  are included in the results of  operations  as  incurred.  Revenues and
expenses are translated at average exchange rates in effect during each period.

Marketable  Equity  Securities  - The  Company  has  determined  that all of its
investment  securities are to be classified as  available-for-sale in accordance
with SFAS No.  115,  "Accounting  for  Certain  Investments  in Debt and  Equity
Securities."  Available-for-sale  securities are carried at fair value, with the
unrealized gains and losses reported in  stockholders'  equity under the caption
"Accumulated Other  Comprehensive  Income (Loss)." Realized gains and losses and
declines  in  value  judged  to be  other-than-temporary  on  available-for-sale
securities are included in selling,  general, and administrative  expenses.  The
cost of securities  sold is based on the five-day  average closing price for the
immediately  preceding five days prior to the date an  advertising  agreement is
signed.

Fair Value of Financial Instruments - SFAS No. 107, "Disclosure about Fair Value
of   Financial   Instruments,"

<PAGE>

                              INNOTECH CORPORATION
                    (formerly known as Equityalert.com, Inc.)
                        NOTES TO THE FINANCIAL STATEMENTS
                             DECEMBER 31, 2001 AND 2000


defines  the fair  value of a  financial  instrument  as the amount at which the
instrument could be exchanged in a current  transaction between willing parties.
The fair value of the Company's cash and cash equivalents,  accounts receivable,
related party advances and accounts payable amounts  approximate  their carrying
value.

Reclassification  - Certain  prior  period  amounts  have been  reclassified  to
conform to the current year presentation.

Recent  Accounting  Pronouncements  - The Financial  Accounting  Standards Board
("FASB") has issued the following pronouncements,  none of which are expected to
have a significant affect on the financial statements:

SFAS No.141,  "Business  Combinations."  SFAS No. 141 requires that all business
combinations be accounted for under the purchase method of accounting.  SFAS No.
141 also changes the criteria for the separate  recognition of intangible assets
acquired in a business  combination.  SFAS No. 141 is effective for all business
combinations initiated after June 30, 2001.

SFAS No. 142,  "Goodwill  and Other  Intangible  Assets." SFAS No. 142 addresses
accounting  and  reporting  for  intangible  assets  acquired,  except for those
acquired in a business  combination.  SFAS No. 142  presumes  that  goodwill and
certain intangible assets have indefinite useful lives.

Accordingly,  goodwill and certain  intangibles will not be amortized but rather
will be tested at least  annually for  impairment.  SFAS No. 142 also  addresses
accounting and reporting for goodwill and other intangible  assets subsequent to
their  acquisition.  SFAS No. 142 is effective for fiscal years  beginning after
December 15, 2001.

SFAS No.  143,  "Accounting  for Asset  Retirement  Obligations."  SFAS No.  143
addresses financial accounting and reporting for obligations associated with the
retirement of tangible  long-lived  assets and the associated  asset  retirement
costs.  SFAS No. 143 is effective  for  financial  statements  issued for fiscal
years beginning after June 15, 2002.

FASB  issued  SFAS No.  144,  "Accounting  for the  Impairment  or  Disposal  of
Long-Lived Assets." This statement addresses financial  accounting and reporting
for the impairment or disposal of long-lived  assets.  SFAS No. 144 is effective
for financial  statements  issued for fiscal years  beginning after December 15,
2001, and interim periods within those fiscal years.

Pending  Accounting  Pronouncements  - It is  anticipated  that current  pending
accounting  pronouncements  will not have an  adverse  impact  on the  financial
statements of the Company.

NOTE 2 - SUBSIDIARIES

On July 31, 2001, the Company filed articles of incorporation  with the State of
Nevada to form Equityalert.com,  Inc., a wholly owned subsidiary,  through which
the operations of its online business, www.equityalert.com, are conducted.

On September 6, 2000, the Company filed articles of  incorporation  in the State
of  Nevada  to form a  wholly  owned  subsidiary,  Email  Solutions,  Inc.,  and
subsequently  transferred  a portion  of the  Company's  assets,  consisting  of
software and computer  hardware  equipment used in the emailing of the Company's
public  company and mutual fund news alerts,  to the newly formed  subsidiary at
net book value. On September 15, 2000, the Company sold 100% of the wholly owned
subsidiary to Entheos Technologies, Inc., for $283,000. See Note 5.

<PAGE>

                              INNOTECH CORPORATION
                    (formerly known as Equityalert.com, Inc.)
                        NOTES TO THE FINANCIAL STATEMENTS
                           DECEMBER 31, 2001 AND 2000

NOTE 3 - MARKETABLE EQUITY SECURITIES

Marketable  equity  securities  consist of common  stock  investments  in public
corporations traded on the  over-the-counter  bulletin board. The estimated fair
value of  marketable  equity  securities  held at December 31, 2001 are based on
published closing prices.

The  following  is a summary  of  marketable  equity  securities  classified  as
"available-for-sale" securities as required by SFAS No. 115:

<TABLE>
<CAPTION>
<S>                                                  <C>
Cost                                                 $   125,040
Gross Unrealized Losses                                  (25,036)
                                                         -------
Estimated Fair Value                                 $   100,004
                                                         =======
</TABLE>

For the year ended December 31, 2001, the Company  recorded  realized  losses of
$42,409, which is included in selling, general and administrative expenses.

NOTE 4 - PROPERTY AND EQUIPMENT

Property and equipment consists of the following at December 31:
<TABLE>
<CAPTION>
                                                      2001                     2000
                                                      ----                     ----
<S>                                                   <C>                        <C>
Computer Hardware                                     $   70,135                 $  70,135
Computer Software                                         12,139                    12,139
Furniture and Fixtures                                    10,831                    10,831
                                                          ------                    ------
Total                                                     93,105                    93,105
Less Accumulated Depreciation                             65,050                    33,052
                                                          ------                    ------
Net Book Value                                       $   28,055                 $  60,053
                                                         ======                    ======
</TABLE>

Depreciation  expense charged to operations during 2001 and 2000 was $34,981 and
$75,025, respectively.

NOTE 5 - RELATED PARTY TRANSACTIONS

Advances to related  parties of $40,500 at December  31, 2001  represents  funds
advanced to a shareholder bearing interest at 4.75% per annum and due in full on
September 26, 2002.

Loans from related  parties of $42,017 at December 31, 2000 represent  unsecured
advances  from the  director  and  majority  shareholder.  The  amounts  bear no
interest and are due on demand. The amount was paid in full in March 2001.

On September  15, 2000,  the Company sold 100% of the voting common stock of its
wholly-owned subsidiary, Email Solutions, Inc., a Nevada Corporation, to Entheos
Technologies,  Inc.,  for  $283,000.  Email  Solutions,  Inc.'s  assets  consist
principally of software and computer hardware  equipment used in the emailing of
Innotech's public company and mutual fund news alerts. Entheos provides emailing
services for the Company.  The director and majority  shareholder of Innotech is
also the director and majority shareholder of Entheos. Included in the statement
of operations is a gain on the sale of the transaction of $27,591.

During 2001 and 2000,  the Company  charged  $144,000 and $100,000 to operations
for  management  and  consulting  fees  incurred  for  services  rendered by the
Chairman and majority shareholder. Included in accounts payable at

<PAGE>

                              INNOTECH CORPORATION
                    (formerly known as Equityalert.com, Inc.)
                        NOTES TO THE FINANCIAL STATEMENTS
                           DECEMBER 31, 2001 AND 2000

December  31, 2001 and 2000 is a payable of $220,667 and $88,000 for these fees.
The  Company  also  paid  $22,847  to  one  of the  Company's  stockholders  for
consulting services rendered.

The Company also rents  office  space from the wife and father of the  Company's
Chairman, for a lease payment of approximately $2,450 per month. See Note 8.

NOTE 6- INCOME TAXES

There is no current or deferred  tax expense  for the years ended  December  31,
2001 and  2000,  due to the  Company's  loss  position.  The  Company  has fully
reserved for any benefits of these  losses.  The  deferred tax  consequences  of
temporary  differences in reporting items for financial statement and income tax
purposes are recognized, as appropriate.  Realization of the future tax benefits
related to the deferred tax assets is dependent on many  factors,  including the
Company's  ability to generate  taxable  income  within the net  operating  loss
carryforward  period.  Management has  considered  these factors in reaching its
conclusion as to the valuation allowance for financial  reporting purposes.  The
income tax effect of temporary  differences  comprising  the deferred tax assets
and deferred tax liabilities on the accompanying  consolidated balance sheets is
a result of the following:

<TABLE>
<CAPTION>
Deferred Taxes                                       2001              2000
--------------                                       ----              ----
<S>                                                  <C>               <C>
NOL Carryforwards                                    $    177,481      $     78,732
Start-Up Costs                                            198,134           264,178
Nondeductible Expenses                                          0           (16,574)
                                                      -----------         ----------
Total Deferred Tax Assets                                 375,615           326,336
Valuation Allowance                                      (375,615)         (326,336)
                                                          -------          --------
Net Deferred Tax Assets                              $          0      $          0
                                                      ===========        ==========

</TABLE>

The net change in the  valuation  allowance  for 2001 was an increase of $49,279
and for 2000 was a decrease of $3,886,  which are  principally the result of net
operating loss carryforwards and start-up costs.

A  reconciliation  between the statutory  federal  income tax rate (34%) and the
effective  rate of income tax  expense  for each of the years  during the period
ended December 31 follows:

<TABLE>
<CAPTION>
                                                                         2001            2000
                                                                         ----            ----
<S>                                                                      <C>             <C>
Statutory Federal Income Tax Rate                                        (34.0)%         (34.0)%
Valuation Allowance                                                       34.0 %          34.0 %
                                                                          ----            ----
Effective Income Tax Rate                                                  0.0 %           0.0 %

</TABLE>

The Company has available  net operating  loss  carryforwards  of  approximately
$500,000 for tax purposes to offset future  taxable  income which expire through
2021.  Pursuant  to the  Tax  Reform  Act of  1986,  annual  utilization  of the
Company's net operating loss carryforwards may be limited if a cumulative change
in ownership of more than 50% is deemed to occur within any three-year period.

NOTE 7- STOCK OPTIONS

The Company has four stock  option  plans that provide for the granting of stock
options to officers and key employees as follows:  1997 Stock Option Plan (SOP),
10,000  shares  of  authorized  common  stock;  1998  SOP  4,000,000  shares  of
authorized  common stock; 1999 SOP 10,000,000 shares of authorized common stock;
and the 2001 SOP,  20,000,000  shares of authorized  common stock,  all of which
expire ten years from the date of grant.  The  objectives of these plans include
attracting   and  retaining  the  best   personnel,   providing  for  additional
performance  incentives,  and  promoting the success of the Company by providing
employees the opportunity to acquire common stock. Total options  outstanding at
December  31, 2001 and 2000 were  479,360 at an option price of $2.00 per share.

<PAGE>

                              INNOTECH CORPORATION
                   (formerly known as Equityalert.com, Inc.)
                        NOTES TO THE FINANCIAL STATEMENTS
                           DECEMBER 31, 2001 AND 2000

The Company  accounts for  stock-based  compensation  using the intrinsic  value
method prescribed by Accounting Principles Board Opinion No. 25, "Accounting for
Stock Issued to Employees,"  under which no compensation  cost for stock options
is recognized  for stock options  awards  granted at or above fair market value.
Had compensation expense for the Company's  stock-based  compensation plans been
determined  under  SFAS No.  123,  based on the fair  market  value at the grant
dates,  the  Company's pro forma net loss and pro forma net loss per share would
have been reflected as follows at December 31:

<TABLE>
<CAPTION>
Net Loss                             2001                       2000
                                     ----                       ----
<S>                                  <C>                   <C>
  As reported                        $    (142,430)        $      (55,845)
  Pro forma                          $    (303,018)        $     (216,433)
Net Loss Per Share
  As reported                        $         (0.09)      $        (0.03)
  Pro forma                          $         (0.18)      $        (0.13)

</TABLE>

The fair value of each option  grant is estimated on the date of grant using the
Black-Scholes   option   pricing  model  with  the  following   weighted-average
assumption  used for  those  options  granted:  dividend  yield of 0%,  expected
volatility  of 273%,  risk-free  interest rate of 5%, and an expected life of 10
years.

NOTE 8 - COMMITMENTS

The Company  leases  office  space  located at 1628 West 1st Avenue,  Suite 216,
Vancouver,  B.C.,  for  approximately  $2,450 per  month,  for a period of three
years,  with an  option to renew for a  further  three  years  from the wife and
father of the Company's  Chairman.  Rent expense  charged to operations for 2001
and 2000 was $28,824 and $10,716, respectively.

Future minimum rental commitments are: (2002:$28,000 and 2003:$18,667.)

NOTE 9-COMMON STOCK

On July  12,  2001,  the  shareholders  approved  a 25:1  reverse  split  of the
Company's  common stock and approved an increase in the authorized  common stock
from  100,000,000 to 300,000,000  common shares with the par value remaining the
same.

<PAGE>

ITEM 8:  CHANGES  IN  AND  DISAGREEMENTS  WITH  ACCOUNTANTS  ON  ACCOUNTING  AND
         FINANCIAL DISCLOSURE

None.

ITEM 9: DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

Set forth  below is certain  information  regarding  each of the  directors  and
officers of the Company:

BHUPINDER S. MANN (Age 46).  President and Chief  Executive  Officer,  Director.
Between 1986 and 1989,  Mr. Mann became engaged in the  commodities  and futures
markets as a registered broker for Evergreen Futures.  During the period between
1989 and 1995, Mr. Mann served as the President of First College of Commodities,
which  provided  training  and  educational  services.  In  1995,  Mr.  Mann was
responsible  for sales at Radd  Multimedia  and  later in the year for  investor
relations at Aqua One  Beverage.  Between 1996 and 1999,  Mr. Mann served as the
Manager of investor  relations for Enterprise  Technologies,  Inc., a healthcare
technology  service  company.   Mr.  Mann  graduated  in  1978  from  Nottingham
University  with a B.A. Hons. In Political  Science.  Mr. Mann has served as the
Company's  President,  Chief Executive  Officer and Director since January 21st,
2000.

HARMEL S. RAYAT (Age 40).  Chairman,  Director.  Between  January 1993 and April
2001,  Mr. Rayat  served as the  president of Hartford  Capital  Corporation,  a
company  that  provides  financial   consulting   services  to  emerging  growth
corporations.  Since  January 2002,  Mr. Rayat has been  president of Montgomery
Asset  Management  Corporation,   a  privately  held  firm  providing  financial
consulting  services  to  emerging  growth  corporations.  Mr.  Rayat  is also a
Director of Entheos Technologies,  Inc., Enterprise Technologies,  Inc. and Zeta
Corporation. Mr. Rayat has served as a Director of the Company since March 18th,
1996.

JASBINDER CHOHAN (Age 39).  Secretary,  Treasurer,  Director.  During the period
from May 1993 to January 1995, Ms. Chohan did general  accounting work for Elton
Advertising. Since January 1995, she has been employed as an accounts manager at
Graphic Packaging Canada.  Ms. Chohan has served as a Director and the Company's
Secretary and Treasurer since April 11th, 2001.

Section 16(a) Beneficial Ownership Reporting Compliance

Section 16(a) of the Securities  Exchange Act of 1934, as amended (the "Exchange
Act"), requires the Company's directors,  officers and persons who own more than
10 percent of a registered  class of the Company's  equity  securities,  to file
reports of ownership and changes in ownership  with the  Securities and Exchange
Commission ("the Commission").  Directors,  officers and greater than 10 percent
beneficial owners are required by applicable  regulations to furnish the Company
with  copies of all forms  they file with the  Commission  pursuant  to  Section
16(a).  Based  solely upon a review of the copies of the forms  furnished to the
Company,  the Company  believes that during fiscal 2001 the filing  requirements
applicable to its directors and executive officers were not satisfied.

ITEM 10: EXECUTIVE COMPENSATION

Remuneration and Executive Compensation

The following  table shows,  for the three-year  period ended December 31, 2001,
the cash compensation paid by the Company, as well as certain other compensation
paid for such year, to the Company's Chief  Executive  Officer and the Company's
other most highly  compensated  executive  officers.  Except as set forth on the
following  table, no executive  officer of the Company had a total annual salary
and bonus for 2001 that exceeded $100,000.

<PAGE>

Summary Compensation Table

<TABLE>
<CAPTION>
                                                                                 Securities
                                                                                 Underlying
Name and                                                                         Options       All Other
Principal Position                    Year      Salary    Bonus      Other       Granted       Compensation
------------------                    ----      ------    -----      -----       -------       ------------
<S>                                   <C>      <C>          <C>       <C>              <C>          <C>
Bhupinder S. Mann                     2001     $88,483      $0        $0               0            $0
CEO, President, Director              2000     $73,446      $0        $0               0            $0
                                      1999          $0      $0        $0               0            $0

Harmel S. Rayat*                       2001     $12,000      $0   $23,894               0            $0
Chairman, Director                    2000     $12,000      $0        $0               0            $0
                                      1999          $0      $0        $0               0            $0

Jasbinder Chohan                      2001          $0      $0        $0               0            $0
Secretary, Treasurer, Director        2000          $0      $0        $0               0            $0
                                      1999          $0      $0        $0               0            $0

</TABLE>

*During 2001 and 2000, the Company  accrued  $144,000 and $100,000 to operations
for  management  and  consulting  fees  incurred for services  rendered.  Of the
$100,000 accrued in 2000, $12,000 was paid in 2000 and $12,000 in 2001.

Stock Option Grants in 2001

     Shown below is further information regarding employee stock options awarded
during 2001 to the named officers and directors:

<TABLE>
<CAPTION>
                           Number of     % of Total
                           Securities    Options
                           Underlying    Granted to     Exercise    Expiration
Name                       Options       Employees      Price       Date
----                       -------       ---------      -----       ----
<S>                        <C>           <C>            <C>         <C>
None

</TABLE>

ITEM 11: SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The following table sets forth, as of March 15th, 2002, the beneficial ownership
of the  Company's  Common Stock by each  director and  executive  officer of the
Company and each person known by the Company to beneficially own more than 5% of
the  Company's  Common  Stock  outstanding  as of such  date  and the  executive
officers and directors of the Company as a group.

<TABLE>
<CAPTION>
                                                     Number of Shares
Person or Group                                      of Common Stock                      Percent
---------------                                      ---------------                      -------
<S>                                                  <C>                                  <C>
Harmel S. Rayat (1)                                     1,167,110                          70.8%
216-1628 West First Avenue
Vancouver, B.C.  V6J 1G1 Canada

Bhupinder S. Mann                                           8,080                           0.5%
216-1628 West First Avenue
Vancouver, B.C.  V6J 1G1 Canada

Jasbinder Chohan                                            32,335                            2.0%
216-1628 West First Avenue
Vancouver, B.C.  V6J 1G1 Canada

Directors and Executive Officers                       1,207,525                          73.3%
as a group (3 persons)

</TABLE>

(1) Includes  320,000 shares which may be acquired  pursuant to options  granted
and exercisable under the Company's 1998 and 1999 option plans and 47,110 shares
held by Tajinder Chohan,  Mr. Rayat's wife.  Additionally,  other members of Mr.
Rayat's  family  hold  35,295  shares and 40,000  shares  which may be  acquired
pursuant to options  granted and  exercisable  under the  Company's  1998 option
plan. Mr. Rayat disclaims  beneficial ownership of the shares beneficially owned
by his wife and other family members.

<PAGE>

ITEM 12: CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

Advances to related  parties of $40,500 at December  31, 2001  represents  funds
advanced to a shareholder bearing interest at 4.75% per annum and due in full on
September 26, 2002.

Loans from related  parties of $42,017 at December 31, 2000 represent  unsecured
advances  from the  director  and  majority  shareholder.  The  amounts  bear no
interest and are due on demand. The amount was paid in full in March 2001.

On September  15, 2000,  the Company sold 100% of the voting common stock of its
wholly-owned subsidiary, Email Solutions, Inc., a Nevada Corporation, to Entheos
Technologies,  Inc.,  for  $283,000.  Email  Solutions,  Inc.'s  assets  consist
principally of software and computer hardware  equipment used in the emailing of
Innotech's public company and mutual fund news alerts. Entheos provides emailing
services for the Company.  The director and majority  shareholder of Innotech is
also the director and majority shareholder of Entheos. Included in the statement
of operations is a gain on the sale of the transaction of $27,591.

During 2001 and 2000,  the Company  charged  $144,000 and $100,000 to operations
for  management  and  consulting  fees  incurred  for  services  rendered by the
Chairman and majority shareholder.  Included in accounts payable at December 31,
2001 and 2000 is a payable of $220,667  and $88,000 for these fees.  The Company
also paid $22,847 to one of the Company's  stockholders for consulting  services
rendered.

The Company  leases  office  space  located at 1628 West 1st Avenue,  Suite 216,
Vancouver,  B.C.,  for  approximately  $2,450 per  month,  for a period of three
years,  with an  option to renew for a  further  three  years  from the wife and
father of the Company's  Chairman.  Rent expense  charged to operations for 2001
and 2000 was $28,824 and $10,716, respectively.

Future minimum rental commitments are $28,000 for 2002 and 18,667 for 2003.

PART IV

ITEM 13: EXHIBITS AND REPORTS ON FORM 8-K

The exhibits listed in the  accompanying  index to exhibits are filed as part of
this Annual Report on Form 10KSB.

No reports on Form 8-K were filed during the Company's fourth fiscal quarter.

                                   SIGNATURES

     Pursuant to the requirements of Sections 13 or 15 (d) of the Securities and
Exchange Act of 1934, the Registrant has duly caused this Report to be signed on
its behalf by the  undersigned,  thereunto  duly  authorized on this 15th day of
March, 2002.

                                                            INNOTECH CORPORATION

                                                              /s/ Bhupinder Mann
                                                              ------------------
                                                              By: Bhupinder Mann
                                                              CEO and President


Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following  persons on behalf of the  registrant and
in capacities and on the dates indicated.



Signature                      Title                             Date
---------                      -----                             ----

/s/ Harmel S. Rayat            Director and Chairman             March 15, 2002
------------------------       ---------------------             --------------
Harmel S. Rayat


/s/ Jasbinder Chohan           Director, Secretary/Treasurer     March 15, 2002
-------------------------      -----------------------------     --------------
Jasbinder Chohan