`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 March 31, 2003.


                       COMMISSION FILE NUMBER 1-13588

                           THE WIDECOM GROUP INC.
           (Exact Name of Registrant as specified in its Charter)

        ONTARIO, CANADA                           98-0139939
(State or other jurisdiction of      (I.R.S. Employer Identification No.)
 incorporation or organization)

  1445 Bonhill Road
      Mississauga, ONTARIO, CANADA                        L5T 1V3
(Address of principal executive offices)             (Zip Code)

                               (905) 712-0505
            (Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

                                            Name of each Exchange on
           Title of each class                  which Registered
           -------------------                  ----------------

  COMMON STOCK, PAR VALUE $.01 PER SHARE      BOSTON STOCK EXCHANGE
  WARRANTS TO PURCHASE COMMON STOCK           BOSTON STOCK EXCHANGE

Securities registered pursuant to Section 12(g) of the Act:

                                            Name of each Exchange on
           Title of each class                  which Registered
           -------------------                  ----------------

  COMMON STOCK, PAR VALUE $.01 PER SHARE     NASDAQ BULLETIN BOARD
  WARRANTS TO PURCHASE COMMON STOCK          NASDAQ BULLETIN BOARD

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter periods
that the registrant was required to file such reports), and (2) has been
subject to such filing requirements 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 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]
                             -----

The aggregate market value of the voting and non-voting common equity
held by non-affiliates of the registrant based upon the closing sale
price of Widecom's common stock on the OTC as of March 31, 2003 was
approximately $ 26,335.


The number of shares outstanding of Widecom's common stock on March 31,
2003 was 2,633,585 shares.

All references to "dollar" or "$" in this Annual Report are to United
States dollars.

                                   PART I

FORWARD LOOKING STATEMENTS

      Certain statements in this prospectus constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. We desire to avail ourselves of certain safe
harbor provisions of the 1995 Reform Act and are therefore including
this special note to enable us to do so. Forward-looking statements
included in this prospectus or hereafter included in other publicly
available documents filed with the Securities and Exchange Commission,
reports to our stockholders and other publicly available statements
issued or released by us involve known and unknown risks, uncertainties,
and other factors which could cause our actual results, performance,
either financial or operating, or achievements to differ from the
future results, performance, either financial or operating, achievements
expressed or implied by those forward looking statements. These future
results are based upon management's best estimates of current conditions
and the most recent results of our operations.

      The statements appear in a number of places in this prospectus and
include statements regarding our intent, belief or current expectations,
and those of our directors or officers with respect to future revenues,
product development, the future of the wide format document system
industry, and other matters. Our actual results could differ materially
from those anticipated in the forward looking statements as a result of
certain factors, including those discussed throughout this prospectus.
These risks include, but are not limited to, risks associated with
recent and accumulated losses, need for additional financing,
competition, conflicts of interest, limited operating history,
dependence upon one product line, and other risks detailed in this
Form 10-KSB and other Securities and Exchange Commission filings,
including filings Form 10-QSB as well as recently filed Reports on
Form 8-K, if any, each of which could adversely affect our business
and the accuracy of the forward looking statements contained herein.

ITEM 1. DESCRIPTION OF BUSINESS

The Widecom Group, Inc. ("Widecom")
- -----------------------------------

We design, assemble and market high-speed, high-performance document
systems that transmit, receive, print, copy and/or archive wide format
documents, such as blueprints, schematics, newspaper layouts and other
mechanical and engineering drawings. Our products include a 36" wide
format scanner, a 54 inch wide scanner and a 72 inch wide scanner,
a 36" wide format copier and a 36" wide format plotter/printer. We
also market a modular digital multi-function unit which incorporates
a scanner module, a plotter module, optional internal modems and
software to permit the unit to interface with a personal computer
and combine scanning, printing, facsimile and copying functions
in one unit.

We design our document management systems in response to perceived
market demand for systems that facilitate the efficient management and
transmission of wide format documents. Our primary market is for
architectural, engineering and construction applications. In addition,
we also market our products for use by manufacturers in the garment,
woodworking and graphic arts industries, utilities and government
agencies and for applications in newspaper and advertising industries.
Although our product markets are highly specialized and although we
have not conducted any formal market studies as to the potential demand
for wide format document systems, we firmly believe that the world-wide
market for wide format document systems is emerging as a result of
increasing demand for systems which can more efficiently scan, copy,
print, transmit, receive and archive wide format documents. Our products
provide attractive alternatives to traditional methods used to permit
multiple consumers in different locations to view wide format documents.
We believe our products are more time and cost-efficient than outmoded
methods such as overnight couriers delivering copies of a document or
microfiche reproduction.

We do not maintain general business and products liability insurance.
We do not maintain directors and officers liability insurance.

To date we have limited revenue from operations, significant losses and
have a significant deficit.

The Company's Common Stock was delisted from the Nasdaq Small Cap Market
effective the close of business April 10, 2001 for failure to meet
certain minimum net tangible asset requirements.. The stock continues to trade on the
OTC Bulletin Board

Products

Widecom SLC936-C Color Scanner

The SLC936-C is a wide format scanner capable of scanning documents up
to 36" wide. Our 24 bit scanners are available in color and
monochrome models and offer Small Computer System Interfacing with
personal computers to enable the user to scan images into the
personal computer for display, editing and archiving. First
generation scanners were able to process monochromatic images only.
The second-generation SLC436-C, introduced in May 1996, represented
our first low-cost wide format color scanner capable of scanning
36" by 48" documents at a resolution of 400 dpi in under thirty
seconds for monochrome images, and under eight minutes for full
color images.

The new SLC936-C and SLC936+ monochrome scanner were introduced in
late 1998 and possess resolution capabilities of up to 9600 dpi.
These products offer high speed, high quality scanning capacity
to Geographic Information Systems, Engineering Document Management
Systems, Reprographic and graphic arts applications with high
fidelity to complex originals. The SLC936 Series offer a four
times faster throughput speed than the previous SLC436 and
SLC836 models.

To capture the image of a wide format document, our scanners
employ our exclusive technology where one head moves in a
straight line in contact with the paper. In contrast, traditional
technology employs multiple lenses, which do not touch the paper.
The contact scanner consists of a 36" fiber optic array, 8mm
computer chips aligned to create a 36" length light sensor, a
36" light emitting diode array and software designed to enhance
the scanned image by removing deteriorations from the document
being reproduced and interface the scanner with a personal computer.
The fiber optic array acts as a lens and focuses the image on
computer chips, which read the image. Because these computer chips
contain pixels larger than those of chips used in other scanners
manufactured by other companies, our contact scanners require less
light exposure and, therefore, operate faster than other scanners.

The software incorporated in the SLC936-C improves scanned images by
removing background discoloration and enhancing faded images. This
capability improves the image quality of documents which are stained or
which have faded over time. Various enabling software packages
permits our SLC936-C scanner to interface with a personal computer,
as well as permit the user to perform a variety of scanning, editing,
viewing and transmission functions.

Traditional document scanners employ camera based lenses that are only
capable of scanning documents up to 12" wide. Traditional wide format
scanners employ multiple camera lenses to capture portions of a
document's image and integrate the images to reproduce a wide format
document. The reproduced document can be distorted by camera-based
scanners, particularly at the edges, and misaligned at the center as
a result of the use of multiple lenses, thereby limiting the reliability
and usefulness of the reproduced document. We believe that our software
and exclusive scanner technology, which enable a single scanner head to
come in contact with the paper, enable our products to scan and produce
documents with vastly improved clarity and accuracy.

SLC1036

We have adopted a vertical orientation in our products to facilitate
a greater spectrum of end user preferences and increase our market share.
During the previous years, we introduced the SLC1036; a more advanced model
of our color scanner that is marketed along side our SLC936 product.
Capable of direct Scan-to-File and Scan-to-Print functions, the SLC1036
has throughput of over 4 inches per second at 400 dpi resolution. At the
monochrome setting, the SLC1036 is capable of scanning a 36" x 48" monochrome
image in less than 12 seconds. The SLC1036 is twice as fast on scans and
output and is available for a 30%. premium in price over our 936 models
and at less than half of the price of the next fastest competitor's scanner.
The resolution of our SLC1036 is up to 1000 dpi. This scanner also employs
our exclusive technology that permits the scanner head to come into contact
with the paper.

SLC972

During the previous years we announced our super wide format scanner,
the SLC972, a color and monochrome scanner capable of handling
documents up to six feet wide (72 inches). We anticipate a significant
performance and overall document capacity advantage over similar priced
competitor models. We are now able to address all of the tiers in the large
format market including automotive, aircraft and marine design applications.
The SLC972 has scanning resolutions of up to 900 dpi and is capable of direct
interfacing with assorted application specific software and functions well
with most thermal ink-jet printers/plotters.

SLC954

During the previous years we announced another ultra-wide format scanner,
the SLC972, a color and monochrome scanner capable of handling documents
up to four and -a-half feet wide (54 inches).

We anticipate a significant performance and overall document capacity
advantage over similar priced competitor models. We are now able to
address all of the tiers in the large format market including automotive,
aircraft and marine design applications. The 954 has scanning resolutions
of up to 800 dpi and is capable of direct interfacing with assorted
application specific software and functions well with most thermal ink-jet
printers/plotters.  We commenced formal delivery of the 954 model during
the last quarter of fiscal year 2000.

Plotter/Printer (WC 936P) & Modular Digital Multi-Functional Unit (WC 936 C/P)


We had developed and sold larger format printers and plotters and multi-functional
copiers in the past. We have stopped production of these products, until next
generation versions can be developed or engineered.

Original Equipment Manufacturers Components

We manufacture our own scan and print heads that possess our proprietary
technology which employs an array of sensor chips and are now making them
available to original equipment manufacturers for use in their products.
This technology combines a light emitting diode array with computer chips,
which can sense or read the image. A 12" OEM scan head was custom-developed
by us for a specific departmental scanner manufacturer to facilitate automated
form processing. We expect to secure additional OEM agreements
for other product subassemblies created from all or most of our
core-level technologies.

Software and Accessories

We sell several software drivers for our products that, on request of the
customer, may include third party software libraries. We also sell
accessories for use in connection with our complete product line, including
various types of paper and film for the plotter/printers and the copiers.
Sales of accessories have not been material to date and are not expected to
be material in the near future.


Marketing and Sales

Our primary marketing strategy is to sell our products in targeted
commercial markets in which wide format document systems are believed
to have potential for significant applications. We believe that architectural,
engineering and construction firms, for which reproduction, archiving and
transmission of wide format documents are essential, is our primary market.
We also market our products for use by manufacturers in the garment industry,
utilities and government agencies and applications in the newspapers and
advertising industries. We believe that our products are used by consumers
in these markets for a variety of applications, including the transmission
of construction plans, architectural drawings, newspaper and advertising
layouts and clothing patterns.

1.Generally, our distributor agreements are for a term of two to three
years and grant the distributor the right to market our products within
a specified territory during the term of the agreement.

We sell products to distributors at discounts when compared to end user
price of the products. These discounts rarely exceed 40% of the list price
and rarely approach 25%. For the years ended March 31, 2001,2002 and 2003
our five largest distributors accounted for approximately ,25.8% ,
32% and 20% respectively, of our overall product sales.

No single distributor represented more than 18% of our sales for our fiscal
year ended March 31, 2002. During the years ended March 31, 2001,2002 and
2003, sales by distributors accounted for approximately  89.5%,
92.5% and 65% respectively, of our product sales.

A substantial portion of our sales has been made to foreign markets,
primarily to Europe, the Middle East and Asia. The following table sets
forth the amount of our sales by geographic region. Sales amounts are
expressed both as a dollar amount and as a percentage of product sales
for the indicated period:

REGIONAL SALES BREAKDOWN


                              YEAR ENDED MARCH 31,
             ---------------------------------------------------------
      	        2001                    2002	     2003
               -----------------    ---------------   ----------------
REGION             AMOUNT    %      AMOUNT     %      AMOUNT        %
           - ------ ------    ---     ------    ---   ------     ---

United States    $722,943   45.7	$295,702   48.44  287,178	53.37
Middle East       173,587   11.0	  60,954	9.99  118,603	22.04
Asia   	      364,700   23.1	 117,248   19.21   47,526	 8.85
Europe            167,931   10.6	  78,061   12.79     --		  --
Canada          	152,630    9.6	  58,464    9.57   70,248	13.05
South Africa	   --		--		--	--	 14,482	 2.69
 	         ----------   -----  ----------  -----  ---------    -----
Total 	   $1,581,791  100.0    $610,429  100.0	538,035	100.0
               ==========   =====  ==========  =====  ==========   =====

Warranty, Service and Maintenance

We offer a 90-day limited warranty, which can be extended for a term of up to
one-year. This limited warranty covers the workmanship and parts. During the
term of the warranty of products sold directly by us, we will repair our
products and replace parts that become defective due to normal use. During
the term of the warranty of products sold by distributors, we will replace
parts that become defective due to normal use. The distributor is responsible
for servicing the product.

We provide a warranty to distributors for a period expiring on the earlier of
twelve months following the distributor's purchase of the product and three
months following the distributor's sale of the product. We train our in-house
service engineers and certain distributors to enable them to service and
maintain our products.

We also operate a telephone line during normal business hours to
respond to distributors and user inquiries about the operation, service and
maintenance of our products. We operate and monitor an E-mail box which
distributors and users can access to receive such assistance.

Manufacturing

We subcontract certain manufacturing operations, such as the production of
our proprietary printed circuit boards or machine enclosures, to outside
suppliers. Off-the-shelf items, such as integrated circuits, modems, rollers,
gears and liquid crystal displays, are acquired directly from vendors. We
believe that alternative sources of supply for all of our components and
custom parts are readily available on commercially reasonable terms. We do
not maintain supply agreements with any of our suppliers or subcontractors.
We purchase components and custom parts in the ordinary course of business.
Most of the components are acquired Internationally and shipped
to our manufacturing facility in a free trade zone in India.
Quality control and adjustments are also conducted at
our Indian facility.

While we assemble our products in-house, we will need to increase our
manufacturing capabilities in the event of any increased product demand.
There can be no assurance that we will succeed on commercially
reasonable terms, in a timely manner, or at all.

Competition

The markets for document systems are characterized by intense competition.
We believe our products compete on the basis of resolution, quality, speed,
price and the quality of our distribution channels.

We compete with numerous well-established foreign and domestic companies
that market or are developing wide format document systems. Our competitors
include:

      1. Contex Corporation, Vidar Systems Inc., Oce and Colortrac
           Corporation in the market for wide format scanners;

      2. Encad Corporation, Hewlett Packard Company, Oce and Mutoh
           Corporation in the market for wide format plotters; and

      3. Xerox, Katsuragawa Company and Oce in the wide format
		printer and copier market.

We also suspect that other companies that manufacture and sell standard
copiers, scanners and plotters could develop, without significant delay,
wide format document systems directly competitive with our products.
Many of these companies possess substantially greater financial, technical,
marketing and personnel resources than Widecom. In addition, these companies
also have established reputations for success in the development and
marketing of facsimile machines, plotters, scanners and copiers and have
sufficient budgets to permit them to implement extensive advertising and
promotional campaigns to respond to competitors and enter new markets.

In addition, the markets for our products are characterized by rapidly
changing technology and evolving industry standards. This often results
in rapid product obsolescence or shortened product lifecycles. As a result,
our ability to compete may be dependent upon:

      *    our ability to continually enhance and improve our products;

*   to complete development and introduction into the marketplace of our
new products in a timely manner; and

      *    to successfully develop and market these new products.

There can be no assurance:

      *    that we will be able to compete successfully;

*    that competitors will not develop technologies or products
that could render our products obsolete or less marketable; 		or
      *    that we will be able to successfully enhance our existing
           products or develop new products to continue to compete.

Intellectual Property

We rely upon intellectual property and employ various methods to protect
the ideas, concepts and documentation of our proprietary technology. These
methods include nondisclosure agreements with our employees and distributors.
However, these methods may not afford complete protection.
There can be no assurance that our competitors or customers will not be
able to independently develop such know-how or otherwise obtain access to
our know-how, ideas, concepts and documentation.


In addition, some aspects of the technologies embodied in our products are
generally available to other manufacturers. We are not presently aware of
any infringement on the proprietary rights of others in any of our products.
We have not, however, conducted any formal investigation as to any possible
infringement(s). There can be no assurance that third parties will not assert
infringement claims against us in connection with our products, nor that any
assertion of infringement will not result in litigation.

We are also unable to speculate as to our chances for success in the event of
any infringement-related litigation or our potential ability to license any
infringed patents of third parties on commercially reasonable terms, or at all.
If our technologies were found to infringe another party's rights, we could be
required to modify our products or obtain a license. There can be no assurance
that we would be able to do so in a timely manner, upon acceptable terms and
conditions, or at all. Further, there can be no assurance that we would have
the financial or other resources necessary to successfully defend a claim for
the violation of proprietary rights.
We have not yet formally filed for copyright protection of our software
and may not pursue such activities in the future.

We have licensed our trademarks, copyright
material and all of our technology relating to our scanner and plotter
manufacturing technology and software to NovImage for research and development
purposes. NovImage is attempting to develop improvements, modifications,
additions or alterations to that Intellectual Property and to develop new
products. In exchange for this license and the payment of a 0.5% royalty
fee on net revenue, licensing revenue and net sales to sub-licensees,
NovImage granted us license, except for
the Province of Quebec, Canada. This license allows us to use improved
scanner and plotter technology and software to manufacture, distribute,
market and sell the improved scanner, plotter and software, and any new
products developed by NovImage. NovImage retained these rights with respect
to the Province of Quebec, Canada.

Employees

As of March 31, 2003, our North American operations had 8 full-time
employees, including sales staff and administrative personnel. We also
employ 89 people at a manufacturing facility in India and work with our
wholly owned Indian subsidiary. Neither Widecom nor our subsidiary is a
party to any labor agreements and none of our employees are represented
by a labor union. At present, we believe our employee relations to be
satisfactory.

Effect of Government Regulation

Compliance with laws and regulations governing our business can be
complicated, expensive, and time-consuming and may require significant
managerial and legal supervision. Failure to comply with such laws and
regulations could have a materially adverse effect on our business.
Further, any changes in any of these laws and regulations could materially
and adversely affect our business. There is no assurance that we will be
able to secure on a timely basis, or at all, necessary regulatory approvals
in the future. At present, environmental compliance issues do not have a
material effect on the management and earnings of our business, nor is
any change anticipated.

Enforcement of Civil Liabilities

Our headquarters are located in, and our officers, directors and auditors
are residents of Canada. Further, a substantial portion of our assets are,
or may be, located outside the United States. Accordingly, it may be
difficult for investors to effect service of process within the United
States upon non-resident officers and directors, or to enforce against
them judgments obtained in the United States courts predicated upon the
civil liability provision of the Securities Act of 1933, as amended or
state securities laws. However, there is doubt as to the enforceability
in Canada against us or against any of our directors, controlling persons,
officers or the experts named herein, who are not residents of the United
States, in original actions or in actions for enforcement of judgments of
U.S. courts, of liabilities predicated solely upon U.S. federal securities
laws. Service of process may be effected, however, upon our duly appointed
agent for service of process. If investors have questions with regard to
these issues, they should seek the advice of their individual counsel.

Item 2. Description of Properties

In February 1996, we purchased property in the Noida Export Processing
Zone, a Free Trade Zone located near New Delhi, India. The purchase price
was approximately $67,500 and we had started building a manufacturing facility
the construction of which is stalled due to lack of funds. This partly
constructed building has deteriorated in last few years and its value has deprecated.

We lease the following properties:

We have a sub-lease on month to month basis for an area of 750 sq. ft in
Mississauga and 7000 sq. ft in the Free Trade Zone. . The current annual rents are
$ 15,408 and $15,200, respectively. We also have basement facilities at 45, Rail Road,
Brampton, Ontario, Canada was leased for 3 yrs. The current annual rent
for the said property is $4800.

Although we believe that our present facilities are adequate for our
current level of operations, we will likely need to increase our
manufacturing capabilities in the event of any substantial increase in
demand for our products.

Item 3. Legal Proceedings

 An additional three shareholders have also commenced related litigation,
alleging purchases of our securities from the previously noted two individuals,
who are named as co-defendants. We have filed and received default judgments on
our cross-claims against the two individual co-defendants. As the value of our
common stock has decreased substantially in recent months, we may not be able
to settle the outstanding suits through issuance of stock.  The 3 shareholder
suits claim collectively almost $1 million. In July 2003, one of the above cases
has been decided against Widecom for a sum of around one million dollars and the
judgement is being appealed. Widecom do not have means to pay this judgement.

Yusen Air and Sea Services Inc has a judgement against Widecom for the amount
of Cdn $ 25,151.46 and US $ 34,636.78. Widecom has no means of paying this judgement.

We had been served with legal papers claiming breach of contract less than
two specific joint venture and development agreements to use and distribute
various iterations of software components, which the claimant alleges was its
sole property. The title of the action is Nexsys Consulting, Inc. and Tern
Solutions Group Corp. v. The Widecom Group, Inc. The claim
has been settled for a cash payment of Canadian $5,000 plus 100,000 shares.
Payment of Canadian $5,000 has been made.

Any significant litigation matter is set out in the contingent
Liabilities section of our annual financial statement.

We are also involved in a number of small litigation matters relating to
disagreements with certain of our suppliers, which are currently pending
and being handled by our counsel. These matters are neither significant
nor material.

Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS


No matters were submitted to a vote of our security holders during our
Fiscal year ended March 31, 2001, March 31, 2002 or March 31, 2003.

PART II

Item 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

The Company's Common Stock was de-listed from the Nasdaq Small Cap Market
effective the close of business April 10, 2001, because the Company no
longer met the requirements of net tangible assets.

The Company's common stock and warrants are quoted on the Nasdaq Bulleting
Board under the symbols "WIDE" and "WIDWF", respectively, and on the Boston
Stock Exchange under the symbols "WDE" and "WDEW". The table below
represents the quarterly high and low closing prices for our common
stock and warrants as reported through March 31, 2002.The prices listed in
this table reflect quotations without adjustment for retail mark-ups,
markdowns, or commissions. We have not paid any cash dividends since
inception, and intend to retain earnings, if any, in the foreseeable future
for use in our continued expansion. The approximate number of registered
holders of record of our common stock and warrants at March 31, 2003 was 98
and 16. Our advisers firmly believe that the actual number of beneficial
holders of our common stock and warrants is in excess of 500.

                           	COMMON STOCK           WARRANTS
                           	High        Low       High     Low

1998
First Quarter (Jan.1-Mar.31/98) 	7           2.5        1.5      1.5

Second Quarter (Apr.1-June 30/98) 	4.5         2.5        0.5      0.5

Third Quarter (July 1-Sept.30/98) 	2           0.5          *        *

Fourth Quarter (Oct.1-Dec.31/98) 	1.875       0.9375       *        *

1999   (1:4 Reverse Split-January 29/99)
First Quarter (Jan.1-Mar.31/99) 	2.75        1.25         *        *

Second Quarter (Apr.1-June 30/99) 	10.5         1.25         *        *

Third Quarter (July 1-Sept.30/99) 	10.375       6.75         *        *

Fourth Quarter (Oct.1-Dec.31/99) 	17.25        5.375        *        *

2000
First Quarter (Jan.1-Mar.31/00) 	10.375       7            *        *

Second Quarter (Apr.1-June 30/00) 	7.875       3.625        *        *

Third Quarter (July 1-Sept.30/00) 	4.25        2            *        *

Fourth Quarter (Oct.1-Dec.31/00) 	3           0.4375       *        *

2001
First Quarter (Jan.1-Mar.31/01) 	1           0.3125       *        *

Second Quarter (Apr.1-June 30/01) 	0.34375     0.12         *        *

*     No formal market for warrants
- -----------------------------------

During fiscal 1999, our shareholders approved a private offering of ten
Specific units for $20,000 each comprising 10,000 of our common shares and
a convertible note exercisable at $2.00 per share for the remainder. 9.5
units of the offering closed in fiscal 1999 and one-half unit (5,000
shares only) closed in the first quarter of fiscal 2000. Additional
shares of our common stock can be purchased at $1.20 per share on the
exercise of placement agent warrants. During fiscal 2000, only 2,190
of these additional underlying shares were issued.

During fiscal 2000, the board of directors approved a further private
Offering, in straight equity, of 325,000 of our common shares at
$2.00 per share that was fully subscribed. This offering provided
for a maximum over- allotment of 12,500 additional shares that were
also issued during fiscal 2000.

SELECTED FINANCIAL DATA
- -----------------------

STATEMENT OF EARNINGS DATA:


                                         YEAR ENDED MARCH 31,
                             ------------------------------------------
   				      2001            2002		  2003
  			     	      ----            ----            ----


Total Revenue                   $1,584,388    $610,834 	  538,428
Product Sales                    1,581,791     610,429        538,035
R & D grants                        nil          nil            nil
Total Expenses                   1,729,001     802,448	1,521,167
Net Earnings (Loss)             (1,042,414)   (592,746)    (1,194,593)
Net Earnings(loss)	            (0.40)      (0.23)	   (0.46)
Weighted average shares
 outstanding                     2,591,418   2,591,418	2,591,418

BALANCE SHEET DATA:


						     	MARCH 31,
				 	 ----------------------------------------
					2001            2002		2003
					----            ---            ----

Working Capital               (168,333)     (522,087)		(1,948,368)
Total Assets                 2,433,456     1,626,691		   828,681
Total Liabilities            1,762,320     1,566,339         1,948,669
Retained earnings(deficit) (13,435,588)  (14,028,334)      (15,222,927)
Shareholders' equity           671,136        60,352		(1,119,988)


ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND
RESULTS OF OPERATIONS

OVERVIEW

Since inception, we have generated limited revenues from operations and
Have not yet achieved profitability. Our revenues are primarily
derived from product sales that are recognized for accounting purposes when
products are shipped.  We have limited revenue from operations, significant
losses and have a significant deficit.  Due to limited cash resources, we
have often relied on cash infusions from management to meet ongoing
obligations.  There is no certainly that such access to funds will be
available to us in the future.  In order to reduce our losses, we have
significantly reduced Selling, General and Administrative costs.  We
expect this to have a reduction on sales.

Widecom's Selling, General and Administration infrastructure was set up
to service our full product line of monochrome and color scanners,
monochrome and color printers and monochrome and color copiers.
Neither the color printer nor the color copier has yet been
commercialized and the latest monochrome printers and copiers
had no impact on revenues. Although we anticipate a return to
profitability upon the introduction of our full-extended product
line, there is no assurance that we will be able to successfully
develop and commercialize these products.

In February 2000, we established a majority-owned subsidiary,
Posternetwork.COM Inc., to engage in the business line of offering an
online printing service. Posternetwork is currently engaged in
organizational and financing activities.

IMPACT OF CURRENCY EXCHANGE RATES

We conduct a substantial portion of our business in foreign currency,
primarily the Canadian dollar and, to a lesser extent, the Indian rupee.
To date, fluctuation in foreign currency exchange rates have not had a
significant impact on our results of operations. Fluctuations in the
exchange rates between the United States dollar and the Canadian
dollar or Indian rupee, however, could have an adverse effect on
our operating results in the future. We may seek to limit our
exposure to the risk of currency fluctuations by engaging in foreign
currency transactions that could, however, expose us to substantial
risk of loss. We have limited experience in managing international
transactions and have not yet formulated a strategy to protect us
against any profound currency fluctuations. There can be no assurance
that fluctuations in foreign currency exchange rates will not have a
significant impact on our future operating results.

RESULTS OF OPERATIONS

YEAR ENDED MARCH 31, 2003 COMPARED TO YEAR ENDED MARCH 31, 2002

Revenues for the year ended March 31, 2003 were $538,035, a 12% decrease,
as compared to $610,834 for the year ended March 31, 2002. This
decrease was attributable to a decrease in product sales. The adverse market
conditions had been one of the major causes for the decrease in
product sales.

Operating expenses for the year ended March 31, 2003 were $1,521,167, an
increase of $718,719 as compared to the year ended March 31, 2002.
The increase in operation expenses, is primarily attributable to Research and
Development. Widecom also came out with 41" Scanner (SLC 941) during fiscal
2003. An increase of 70% in SG&A cost was primarily due to cost to meet ongoing
obligations.

Amortization expense for the fiscal year ending March 31, 2003 was
$55,619 compared to $118,966 for the year ending March 31, 2002.
Management fees decreased from $107,285 for the year ending March 31,
2002 to $56,301 for the year ending March 31, 2003 as management was
paid at reduced rates.

LIQUIDITY AND CAPITAL RESOURCES

Our primary cash requirements have been to fund the acquisition of
inventories and to meet operating expenses incurred in connection with the
commercialization of our products. Until our initial public offering, we
had satisfied our working capital requirements principally through the
issuance of debt and equity securities, government sponsored research and
development grants and reimbursement and cash flow from operations. At
March 31, 2003, we had working capital of $(1,948,368), as compared to $(522,087)
at March 31,2002.


In February 2002, the Royal Bank of Canada (RBC) served through its attorneys
a notice upon the company demanding immediate repayment of the outstanding debt.
A few weeks later RBC accepted a settlement offer made by the Company's
management. Subsequent to the Balance Sheet date, however, RBC reneged, and
Widecom threatened legal action against RBC for breach of contract. In response,
RBC agreed to consider Widecom's revised offer (a) to make an initial payment of
CAD$20,000 followed by a monthly payment of CAD$5000 until the
entire amount has been settled, and (b) a personal guarantee of
CAD $20,000 by one of the executives of the Company.
As of the date of the audit report, the matter has remained
unresolved, pending an independent legal opinion from counsel for a member of
the management to provide a personal guarantee and negotiations between the Company
and the specific member of the management for consideration provided in return for
the executive giving a personal guarantee.


We are in default on the interest payments on 12% debentures that are part
of a private placement we conducted in 1999.

Our cash requirements in connection with manufacturing and marketing will
continue to be significant. We do not have any material commitments for
capital expenditures. We believe, based on our current plans and assumptions
relating to our operations, projected cash flow from operations may not be
sufficient to satisfy our contemplated cash requirements for the foreseeable
future. We have relied on investments from management to cover our short falls
in the last fiscal year, such investment may not be available to us in the
future.  In the event that our plans or assumptions change, or prove to be
incorrect, or if the projected cash flows otherwise prove to be insufficient
to fund  operations (due to unanticipated expenses, delays, problems or
otherwise), we could be required to seek additional financing sooner than
currently anticipated. There can be no assurance that this additional
financing will be available to us when needed, on commercially reasonable
terms, or at all.
Nasdaq

The Company's Common Stock was delisted from the Nasdaq Small Cap Market
effective the close of business April 10, 2001 for failure to meet certain
minimum net tangible asset requirements. The stock continued to trade on
the OTC Bulletin Board.



ITEM 7. Financial Statements

The following financial statements of The WideCom Group Inc. are included:

      Report of Chartered Accountants;
      Consolidated Balance Sheets as of March 31, 2003, 2002;
      Consolidated Statements of Operations for the years ended March
31,2003,2002, 2001;
      Consolidated Statements of Stockholders' Equity for the years
       ended March 31, 2003, 2002,2001;
      Consolidated Statements of Cash Flows for the years ended March
31, 2003, 2002, 2001;
      Summary of Significant Accounting Policies; and
      Notes to Consolidated Financial Statements.


PART III

ITEM 9. Directors and Executive Officers of the Registrant and
Compliance with Section 16(a) of the Exchange Act.

Our directors and executive officers are as follows:


NAME                        AGE     POSITION


Willem J. Botha             65      Chief Financial Officer and Treasurer

Lt. Colonel K.C. Sharma     60      Director


Willem J. Botha has been our Chief Financial Officer and Treasurer since
September 1993. From 1989 to September 1993, Mr. Botha was an independent
accounting consultant. From 1985 to 1989, Mr. Botha was employed by Motorola
Information Systems, a manufacturer of data communications equipment, most
recently as its Director of Accounting Services. From 1982 to 1985,
Mr. Botha was an independent financial consultant. Mr. Botha was the
Secretary and Treasurer and a Director of Alcon Canada Inc., a
pharmaceutical company, from 1980 to 1982. From 1976 to 1980,
Mr. Botha was the Controller and Chief Financial Officer for
Bell & Howell Limited, a manufacturer of electronic photographic
products, and from 1969 to 1976 Mr. Botha was the Controller for
Wyeth Ltd., a pharmaceuticals company. Mr. Botha received a
Certificate in Theory of Accounting from the University of
South Africa, is a Chartered Accountant and a resident Canadian
national.

Colonel Kailash Chander Sharma is one of our independent directors.
Lieutenant Colonel Sharma is a well-respected citizen of India and
possesses a Masters Degree in Political Science from Delhi University.
Lt.Col. Sharma has a lengthy military background occupying several
senior posts with significant levels of responsibility including
strategic planning and public relations. Lt. Col. Sharma is proficient
in government organizational and regulatory matters and since 1995
has run his own consulting company.  In his consulting practice he
has assisted various ring organizations obtain governmental or other
regulatory approval in setting up operations.

All directors hold office until
the next annual meeting of shareholders and the election and
qualification of their successors.. Officers are elected annually by the Board of Directors
and serve at the discretion of the Board.

None of our directors received any compensation for such services as a
director during our year ended March 31, 2002. Directors who are
Widecom employees receive no compensation for serving on the Board of
Directors. Non-employee directors are reimbursed for their out-of-pocket
expenses in attending Board meetings and a per diem.

Item 10. EXECUTIVE COMPENSATION



None of corporate officers earned in excess of $ 80,000 for the year ended March 31, 2003.

During the fiscal year ended March 31, 1997, we amended our Employee Stock
Option Plan that allows issuance of options to purchase up to 125,000 shares
of Widecom's stock. The Plan is designed to attract, retain and motivate
persons to provide us with services and to increase the alignment of their
interests with those of our Stockholders.

The Plan allows the Board, at its discretion, to grant options to purchase
shares of our Common Stock at the fair market value of such shares on the
date the option was granted. Options may be granted to any "Eligible Person,"
including any of our directors, officers, employees or those of an affiliate,
or any of our consultants or insiders (as defined in the Plan) of any of our
affiliates. The Board also has the authority under the Plan to determine the
number of shares subject to each option, the expiration date of each option
and the extent to which each option is exercisable from time to time during
its term.

The options expire ten years after the date they are granted, or at such
other date as may be provided for in the Plan. Individual option agreements
may allow an optionee who retires or terminates service with the consent of
the Board of Directors to exercise his or her option(s) within six months of
such retirement or termination. If the optionee is terminated for cause,
the optionee may not exercise the option following such termination.
Following a June 27, 2000 amendment in the exercise price of the options
under the plan, the current exercise price of those options is now $4.00
USD.

An aggregate of 125,000 shares of Common stock (subject to adjustment as
provided in the Plan) were available under the Plan and such shares subject
to options which terminate unexercised will be available for future option
grants. At present, all of the employee stock options available under the
plan are fully allocated.

ITEM 11. SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN BENEFICIAL OWNERS

The following table sets forth, as of March 31, 2001, information as to
the Common Stock beneficially owned by any
person who is known by us to be the beneficial owner of more than five
percent of our Common Stock.


                                            Amount and
                                            Nature of            Percentage of
                                            Beneficial           Outstanding
Name and Address of Beneficial Owner (1)    Ownership (2)  Shares Owned
- ----------------------------------------    -------------        -------------


Raja S. Tuli                                540,437(3)            20.5%
Suneet S. Tuli                              222,207(4)             8.4
- --------------------
(1)  Unless otherwise indicated, the business address of each beneficial
owner is 1445 Bonhill Road, Unit # 8, Ontario, Canada,L5T 1V3.
(2)  Except as indicated by footnote, the persons named in the table have
sole voting and investment power with respect to all shares of Common Stock
shown as beneficially owned by them. Each beneficial owner's percentage
ownership is determined by assuming that convertible securities, options or
warrants that are held by such person (but not those held by any other person)
and which are exercisable within 60 days of the date hereof have been exercised.
  None of them
have beneficial ownership over each others shares.
(3)  Includes (i) 50,000 Common Shares issuable upon exercise of currently
exercisable options at a price of $4.00 per share and 12,500 shares $4.00 per
share, and (ii) 8,125 shares owned by Diversified Investors Capital Services of
North America, Inc., a New York corporation,16,875 shares owned by Pyrotech
Limited, a Cayman Islands corporation, and 1,223 shares owned by Donald J. Schattle,
respectively, as to which Mr. Tuli has voting rights pursuant to a exchange
agreement. Also includes 40,810 shares held by RST Consulting Ltd.
(4)  Includes 12,500 Common Shares issuable upon exercise of currently
      exercisable options at a price of $8.50 per share and 12,500
Common Shares issuable upon exercise of currently exercisable
warrant at a price of $4.00 per share. Also includes 20,808
shares held by SST Consulting Ltd.

ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

In February, 2000 we established a majority owned subsidiary named
Posternetwork.Com, Inc., to engage in the business line of providing
customers with an Internet-based online printing service offering
customized, fast, inexpensive poster-size reproductions. Posternetwork
intends to create posters, large photographs, signs and other wide-format
prints for customers from digital or analog images directly through  its
web site.


The company has historically relied significantly on government
grants, for many of which it ceased to qualify upon becoming a
public company.


All future transaction and loans between Widecom and its officers, directors
and 5% shareholders will be on terms no less favorable than could be obtained
from independent, third parties and will be approved by a majority of the
independent and disinterested members of the Board of Directors. There can
be no assurance, however, that future transactions or arrangements between
us and our affiliates will be advantageous, that conflicts of interest will
not arise with respect thereto or that if conflicts do arise, that they will
be resolved in our favor.

The Company has accrued debts for unpaid salaries, consulting fees,
investments and related costs in favor of members of management in the
aggregate amount of $1,081,209 as of the year ended March 31, 2003.


ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K

(a) REPORTS ON FORM 8-K during Fiscal 2001

	No 8-K has been filed during the current year.

(b) EXHIBITS

See Exhibit Index.

                                  EXHIBITS

The following exhibits are filed herewith. Exhibits with an asterisk (*)
denotes those exhibits filed herewith. NIL




                                 SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


Date:  July 15,2002                  THE WIDECOM GROUP INC.

                                       By: /s/ Col. K C Sharma
                                       --------------------
                                        Col. K C Sharma
                                        Director

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


NAME                       TITLE                                  DATE
- ----                       -----                                ----


/s/ COLONEL K.C. SHARMA    Director                 July 14,2002
- -----------------------
Col. K.C. Sharma`