<PAGE>

                      SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON DC 20549
                                   _________

                                FORM 10-KSB


(Mark One)
[ ]    ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
       ACT OF 1934.
For the fiscal year ended               December 31, 2000
                      ----------------------------------------------------

OR
[X]    TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE
       ACT OF 1934.
For the transition period
from                          June 1 - December 31

                         ______________________________
                             Commission file Number



                                SCORE ONE, INC.
-------------------------------------------------------------------------------
                 (Name of Small Business Issuer in Its Charter)

            Nevada                                        88-0409164
----------------------------------           ----------------------------------
  (State or other Jurisdiction of           (I.R.S. Employer Identification No.)
   Incorporation)


        Unit 2, 34/F, Cable TV Tower
              9 Hoi Shing Road
            Tsuen Wan, Hong Kong
----------------------------------------      _________________________________
 (Address of Principal Executive Offices)                      (Zip Code)



                               011-852-2406-8978
--------------------------------------------------------------------------------
                (Issuer's Telephone Number, Including Area Code)

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



                                                        Name of Each Exchange
       Title of Each Class                              on Which Registered
       -------------------                              -------------------


___________________________________             ________________________________

___________________________________             ________________________________

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

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

--------------------------------------------------------------------------------
                               (Title of Class)

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


Yes    X        No
   ________       ________
     Check if there is no disclosure of delinquent filers in response to Item
405 of Regulation S-B is not contained in this form, and no disclosure will be
contained to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-
KSB. [X]

     State issuer's revenue for its most recent fiscal year. $ ________


     State the aggregate market value of the voting and non-voting common equity
held by non-affiliates computed by reference to the price at which the common
equity is sold, or the average bid and asked price of such common equity, as of
a specified date within the past 60 days (See definition of affiliate in Rule
12b-2 of the Exchange Act.) as of March 29, 2000 the aggregate market value held
by non-affiliates was $1,500,000
                      ----------

            Note.  If determining whether a person is an affiliate will involve
     an unreasonable effort and expense, the issuer may calculate the aggregate
     market value of the common equity held by non-affiliates on the basis of
     reasonable assumptions, if the assumptions are stated.

                  ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
                          DURING THE PAST FIVE YEARS

     Check whether the issuer has filed all documents and reports required to be
filed by Section 12, 13 or 15 (d) of the Exchange Act after the distribution of
securities under a plan confirmed by a court.
Yes             No   X
   ________       ________

                   APPLICABLE ONLY TO CORPORATE REGISTRANTS

     State the number of share outstanding of each of the issuer's classes of
common equity, as of the latest practicable date. As of March 29, 2001 there
                                                  ---------------------------
were 19,930,000 shares of Common Stock issued and outstanding.
-------------------------------------------------------------

     Transitional Small Business Disclosure Format (check one):
Yes             No   X
   ________       ________
<PAGE>

                                    PART I

ITEM 1.   Description Of Business.

     Except for historical information contained herein, the matters discussed
in this Annual Report on Form 10-KSB are forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and
Section 27A of the Securities Act of 1933, as amended. The words "expects,"
"anticipates," "believes," "intends," "plans" and similar expressions identify
forward-looking statements, which speak only as of the date hereof. These
forward-looking statements are subject to certain risks and uncertainties,
including, without limitation, those discussed in "Item 1-Business," and Item 7-
Management's Discussion and Analysis of Financial Condition and Results of
Operations" that could cause future results to differ materially from historical
results or those anticipated.

     Score One, Inc. (the "Company") was originally formed as a Nevada
corporation, under the name Aloha "The Breath of Life" Foundation, Inc., in June
1996 for the purpose seeking a favorable business opportunity. On October
13,1998, the Company changed its name to Score One, Inc. On March 10, 1999, the
Company amended its Articles of Incorporation to increase the number of shares
of common and preferred stock to 25,000,000 and 5,000,000 respectively, and
effected a 100-for-one forward stock split on the Company's issued and
outstanding common stock.

     The Company's executive offices were located at 2133 East 9400 South, Suite
151, Sandy, Utah 84093. The Company's executive offices are now located at Unit
2, 34/F , Cable TV Tower 9 Hoi Shing Road, Tsuen Wan, Hong Kong (Telephone:011-
852-2406-8978; Facsimile 011-852-2406-9252).

     On March 14, 2000 the Company's authorized and issued common stock, par
value $.001 (the "Common Stock") underwent a forward stock split on a 1.65:1
basis increasing the total authorized shares from 25,000,000 to 41,250,000, and
the issued outstanding shares from 2,200,000 to 3,630,000 shares.

     On the March 24, 2000, the following persons became the members of the
Board of Directors of the Company: (i) Wing Cheong Ho, Founder, Chairman of the
Board and a Director of Advanced Technology International Holdings Limited
("ATHI") and I.World. President of the Company, (ii) Wing Hung Ho, President and
a Director of ATHI and I.World. Secretary of the Company, and (iii) Zhao Jian
Li, a Director of ATHI and I.World Treasurer and Vice President - Business
Development of the Company. Immediately following the appointment of the new
directors, the Company accepted the resignation of Ken Kurtz as President,
Secretary and Treasurer Director of the Company and the newly elected Board of
Directors elected Wing Cheong Ho as President, Kwok Ming Li as Vice President -
Engineering, Kin Kong Yeung as Vice President -Administration, Zhao Jian Li as
Treasurer and Vice President - Business Development, Wing Tsan Ho as Chief
Financial Officer, and Wing Hung Ho as Secretary.
                                       1
<PAGE>

      Acquisition of Advanced Technology International Holdings, Inc.

     On March 24, 2000, pursuant to a Share Exchange Agreement (the "Share
Exchange Agreement") by and among the Score One, Inc. (the "Company"), Ken
Kurtz, Advanced Technology International Holdings Limited("ATHI") and I.World
Limited, the sole shareholder of ATHI ("I.World"), the Company purchased all of
the issued and outstanding shares of common stock of ATHI (the "ATHI Common
Stock") in exchange for 16,300,000 shares of common stock of the Company (the
"Company Common Stock") which were issued to I.World (the "Acquisitions"). As a
result of the Share Exchange Agreement, I.World now beneficially owns
approximately 82.8% of the outstanding shares of Company Common Stock. The
consideration for the shares of ATHI Common Stock was determined through
negotiations between the management of the Company and ATHI.

     Since the Acquisition the Company has continued the operations of ATHI.
(see "Business of ATHI"). The Company has filed a report on Form 8-K reporting
the Acquisition.

     History of Advanced Technology International Holdings Limited.

     ATHI was incorporated in the British Virgin Islands on November 18, 1998,
under the name of Modern Frame International Limited. ATHI changed its name from
Modern Frame International Limited to Advanced Technology International Holdings
Limited on December 23, 1999.

     On November 18, 1998, ATHI acquired a 100% equity interest in a newly
incorporated shell company, Ford Reach (H.K.) Limited ("Ford Reach") at a
consideration of $129.  Ford Reach is a limited liability company incorporated
in Hong Kong.

     On January 8, 1999, ATHI acquired a 100% equity interest in a newly
incorporated shell company, Fortune (Conductive Carbon) PCB Factory Company
Limited ("Fortune BVI") (formerly known as Goal Best Gold Limited).  The name of
Goal Best Gold Limited was changed to Fortune (Conductive Carbon) PCB Factory
Company Limited on November 2, 1999.  Fortune BVI is a limited liability company
incorporated in the British Virgin Islands.

     Pursuant to a purchase and sale agreement dated January 1, 1999, Ford Reach
acquired substantially all the assets and assumed substantially all the
liabilities of Fortune (Conductive Carbon) PCB Factory Company Limited ("Fortune
HK"), a limited liability company incorporated in Hong Kong, in exchange for a
note payable to Mr. Ho Wing Cheong of $1,731,664, which was the aggregate book
value of assets acquired less liabilities assumed.  Fortune HK is a Hong Kong
based company and wholly owned by Mr. Ho Wing Cheong, the director and sole
beneficial stockholder of ATHI.  ATHI believed that the $1,731,664 approximated
the fair market value of assets acquired less liabilities assumed at January 1,
1999. This company is considered to be the predecessor to the Company.

     Pursuant to a purchase and sale agreement dated January 8, 1999, Fortune
BVI acquired certain plant and equipment from Dongguan Fortune Circuit Factory
Co., Ltd. ("Dongguan Fortune") in exchange for a note payable to Mr. Ho Wing
Cheong of $1,890,962, which was the aggregate book value of these assets as of
January 1, 1999. Dongguan Fortune is a People's Republic of China ("PRC") based
company in which Mr. Ho Wing Cheong has a controlling interest. Based on the
valuation report prepared by Messrs. LCH (Asia Pacific) Surveyors Limited dated
May 3, 2000, ATHI believed that the $1,890,962 approximated the fair market
value of those assets acquired at January 8, 1999.

     Business of ATHI

                                       2
<PAGE>

     ATHI, through its wholly owned subsidiaries, Ford Reach and Fortune BVI, is
engaged in the manufacturing and sale of printed circuit boards ("PCB") for
telecommunication systems, scientific calculators and audiovisual equipment.
ATHI's primary customers are original equipment manufacturers ("OEMs"). PCB's
are the basic platforms used to interconnect electronic components and can be
found in virtually all electronic products, including consumer electronics,
computers and automotive, telecommunications, industrial, medical, military and
aerospace equipment. On October 1, 1999, Ford Reach transferred all its assets
and liabilities to Fortune BVI at their book values and has become dormant since
then. ATHI now carries on the business of Fortune BVI.

     Industry Overview

     With electronics products growing in technical complexity and experiencing
shorter product life cycles in response to customer requirements, the demand for
advanced manufacturing capabilities and related services has grown rapidly. Many
OEMs in the electronics industry are increasingly utilizing electronics
manufacturing service providers, such as ATHI in their business and
manufacturing strategies. Outsourcing allows OEMs to take advantage of the
manufacturing expertise and capital investments of electronics manufacturing
service providers, thereby enabling OEMs to concentrate on their core
competencies, such as product development, marketing and sales. ATHI believes
that by developing strategic relationships with electronics manufacturing
service providers, OEMs can enhance their competitive position by:

     .   reducing production costs;

     .   accelerating time-to-market and time-to-volume production;

     .   accessing advanced manufacturing, design and engineering capabilities;

     .   reducing capital investment requirements and fixed overhead costs;

     .   improving inventory management and purchasing power; and

     .   accessing worldwide manufacturing capabilities.

     Management believes that the market for electronic manufacturing services
will continue to grow, driven largely by OEMs' need for increasing flexibility
to respond to rapidly changing markets and technologies and accelerating product
life cycles, and their need for advanced manufacturing and engineering
capabilities as a result of increased complexity and reduced size of electronics
products.

     ATHI currently offers ten (10) major types of PCB's in three (3) categories
to suit various specifications of the finished products. The categories are the
single-sided PCB's, the double-sided PCB and the flexible PCB's. The single-
sided PCB's are designed for more generic electronic products, such as clocks,
remote controls, calculators, radio, and watches. The double-sided PCB's are
made for a wide variety of sophisticated mass-produced consumer electronics,
such as personal organizers and data bank's multifunctional telephone systems,
telecommunication systems, scientific calculators and audiovisual equipment. The
flexible PCB's are made out of film materials and conductive carbon (graphite)
that offer more flexibility in circuit design and reduced costs. Flexible PCB's
are primarily used in telecommunication devices and computer equipment.

                                       3
<PAGE>

     Product Development

     The development of ATHI products began in 1991 when ATHI entered into a
processing agreement with a Chinese electronics component manufacturer to
produce printed circuit boards for Hong Kong, Taiwan and foreign electronics
manufacturers based in southern China. At the time, the size of the
subcontractors factory utilized by ATHI was approximately 12,500 square feet
with 40 workers. Given extremely high levels of demand, the factory reached full
capacity within six months of commencement.

     In mid 1995, the factory expanded its capacity and relocated to Dongguan by
signing a second processing agreement. The area of the new factory was
approximately 45,000 square feet and the number of workers increased to 350.

     A major break through for the business came in 1996 regarding the launching
of the double-sided conductive carbon PCB. ATHI was one of a small number of
manufacturers in China to use conductive carbon as material in the manufacturing
process. As a result of this new technology, cost of sales for double sided
PCB's decreased by 40% on average, significantly increased its operating profit
margins.

     In early 2000 ATHI introduced a more advanced technology in PCB
manufacturing utilizing film materials as the base for PCB's in place of paper
phenolic, fabric or glass epoxy. As film offered more flexibility in circuit
design and was cheaper in cost as compared to other materials, ATHI's sales and
customer base increased significantly. As part of continuing efforts to upgrade
its technical expertise and base, ATHI installed state of the art automated
production machinery purchased from Taiwan and Japan.


     Manufacturing

     To achieve excellence in manufacturing, ATHI combines advanced
manufacturing technology with manufacturing techniques including just-in-time
manufacturing, total quality management, statistical process control and
continuous flow manufacturing. Just-in-time manufacturing is a production
technique which minimizes work-in-process inventory and manufacturing cycle time
while enabling ATHI to deliver products to customers in the quantities and time
frame required. Total quality management is a management philosophy which seeks
to impart high levels of quality in every operation of ATHI and is accomplished
by the setting of quality objectives for every operation, tracking performance
against those objectives, identifying work flow and policy changes required to
achieve higher quality levels and a commitment by executive management to
support changes required to deliver higher quality. Statistical process control
is a set of analytical and problem-solving techniques based on statistics and
process capability measurements through which we can track process inputs and
resulting quality and determine whether a process is operating within specified
limits. The goal is to reduce variability in the process, as well as eliminate
deviations that contribute to quality below the acceptable range of each process
performance standard.

     Production Process

     The duration of ATHI's production process from raw materials to finished
goods is approximately 10 days. The production process, which involves several
steps is shown below:

                                   Board Cut
                                       |
                           Circuit Pattern Transfer
                                       |
                                Circuit Plating
                                       |
                                Circuit Etching

                                       4
<PAGE>

                                       |
                            Carbon Circuit Printing
                                       |
                             Solder Mask Printing
                                       |
                              Carbon Through Hole
                                       |
                                    Profile
                                       |
                                Electrical Test
                                       |
                            Final Quality Checking
                                       |
                            Packaging and dispatch


     Sales and Marketing

     The principal markets for ATHI's products are mainly Hong Kong and
Taiwanese electronic manufacturers based in the PRC. ATHI sells its products
directly to end-users through its in house sales and marketing staff and through
five (5) associated trading offices located throughout the PRC.

     Competitive prices, after-sales service, product reliability and continual
product development are keys to ATHI's marketing strategy.

     Most of ATHI's customers are OEMs of well-know brand names for computers,
calculators, radio and telephone, such as Sharp, Cannon and Citizen. ATHI has,
on average, over five years of trading relationships with its major customers.

     ATHI has adopted a tight credit control policy and has experienced no
significant bad debts in recent years.

     Quality Control

     ATHI is committed to manufacturing high quality products and to providing a
high level of after sales service to its customers. Management believes that
product quality is vital to enhancing the Company's competitiveness, market
position and reputation. In order to maintain and improve the quality of its
products and production standards, to this end ATHI is in the process of
implementing a comprehensive quality control system that conforms with the
internationally recognized ISO 9002 standards.

     ATHI's after sale services form an integral part of its operation. ATHI
offers a wide range of after sales services to its customers. These services
include: technical support; processing of inquires and feedback from customers
and visits to customers in order to identify customer' specific needs and level
of satisfaction with its products.

     Raw Materials and Components

     The principal raw materials used by ATHI for the manufacture of PCB
products and rubber keys are laminated sheets, carbon ink and film. Together
these components represent approximately 75% of

                                       5
<PAGE>


ATHI's cost of goods sold. ATHI's suppliers are mainly from Hong Kong and the
PRC. Our main suppliers are Shenzhen District Cheong Chung Trading Co., Ltd.,
Standard Industrial Co., Ltd., and An Tai Screen Printing Material Co., Ltd.
Purchases of major materials are on confirmed order basis and the stock is
tightly controlled.

     Although certain suppliers are preferred for some raw materials, multiple
sources exist for all materials. Adequate amounts of all raw materials have been
available in the past and this should continue in the foreseeable future.

     Production Facilities

     The production facilities of ATHI's subcontractors are located at Dongguan,
southern China. There were two production lines built within the factory
premises consisting of one five story building and one single story building.
The factory premises have a gross floor area of approximately 450,000 square
feet with approximately 600 workers.

     Competition

     The PCB and electronics manufacturing services industry are highly
fragmented and characterized by intense competition. Despite the increasing
demand for ATHI's products in the PRC market, ATHI's products face competition
from both overseas and other domestic suppliers. Although ATHI's competitive
advantage over imported products in terms of pricing (including import VAT and
import tariff) may be partially undermined by the PRC's entry into the World
Trade Organization because of its majority domestic customer base, management
believes that ATHI can maintain its competitiveness due to its accessibility and
efficiency of after sales services and the timely availability of components and
special parts. In the domestic market, management believes that the ATHI has a
competitive advantage over other domestic manufacturers in terms of product
technology of product quality and flexibility to small and medium preferred
suppliers. We believe that the principal competitive factors in the segments of
the PCB and electronics manufacturing services industry in which we operate are
cost, technological capabilities, responsiveness and flexibility, delivery
cycles, location of facilities, product quality and range of services available.

     Employees

     As of December 31, 2000, the Company had approximately 10 full-time
employees, including the employees of ATHI.

     The Company and ATHI believe its future success depends in large part upon
the continued service of its key technical and senior management personnel and
its ability to attract and retain technical and managerial personnel. There can
be no assurance that the Company or ATHI can retain its key technical and
managerial employees or that it can attract, assimilate or retain other highly
qualified technical and managerial personnel in the future. None of the
Company's or ATHI's employees are subject to any collective bargaining
agreements.

Environmental Protection

     ATHI has adopted measures to reduce the level of pollution caused by its
operations and has continuously complied with the PRC's environmental protection
law and regulations. ATHI has never been fined for violation of environmental
laws in the PRC.

     Legal System in the PRC

     Since 1979, many laws and regulations addressing economic matters in
general have been promulgated in the PRC. Despite this activity in developing
the legal system, the PRC does not have a

                                       6
<PAGE>

comprehensive system of laws. In addition, enforcement of existing laws may be
uncertain and sporadic, and implementation and interpretation thereof
inconsistent. The PRC judiciary is relatively inexperienced in enforcing the
laws that exist, leading to a higher than usual degree of uncertainty as to the
outcome of any litigation. Even where adequate law exists in the PRC, it may be
difficult to obtain swift and equitable enforcement of such law, or to obtain
enforcement of a judgment by a court of another jurisdiction. The PRC's legal
system is based on written statutes and, therefore, decided legal cases are
without binding legal effect, although they are often followed by judges as
guidance. The interpretation of PRC laws may be subject to policy changes
reflecting domestic political changes. As the PRC legal system develops, the
promulgation of new laws, changes to existing laws and the preemption of local
regulations by national laws may adversely affect foreign investors. The trend
of legislation over the past 18 years has, however, significantly enhanced the
protection afforded foreign investors in enterprises in the PRC. However, there
can be no assurance that changes in such legislation or interpretation thereof
will not have an adverse effect upon the business operations or prospects of the
ATHI.

ITEM 2.   Description Of Property.

     The Company operates from the office premises leased by ATHI, currently
located at Room 2, 34th Floor, Whaf Cable Tower, 9 Hoi Shing Road, Tsuen Wan,
Hong Kong. The lease is for a term of five years, which commenced on August 1,
2000.

ITEM 3.   Legal Proceedings.

     The Company is not a party to any pending or to the best of its knowledge,
any threatened legal proceedings.  No director, officer or affiliate of the
Company, or owner of record or of more than five percent (5%) of the securities
of the Company, or any associate of any such director, officer or security
holder is a party adverse to the Company or has a material interest adverse to
the Company in reference to pending litigation.

ITEM 4.   Submission Of Matters To A Vote Of Security Holders.

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

                                       7
<PAGE>

                                    PART II

ITEM 5.   Market For Common Equity And Related Stockholder Matters.

     The Company's shares of Common Stock are traded on the Over-the-Counter
bulletin Board ("OTCBB") under the symbol SCRO. There is currently only a very
limited trading market for the Common Stock and there is no trading information
available prior to April 2000. The following table sets forth the range of bid
prices of the Company's Common Stock as quoted on OTCBB during the periods
indicated. These quotations reflect inter-dealer prices without retail markup,
mark-down or commission and may not represent actual transactions.

------------------------------------------------------------------------------
            Quarter Ended                       High                 Low
            -------------                       ----                 ---
------------------------------------------------------------------------------

  Period ending June 30, 2000                  $5.375              $3.000

  August   31, 2000                            $3.59               $2.00

  November 30, 2000                            $2.18               $ .71

  December 31, 2000                            $1.03               $ .56
------------------------------------------------------------------------------

     As of December 31, 2000, there were approximated 28 record holders of the
Company's Common Stock.

     The Company's Common Stock is issued in registered form. Signature Stock
Transfer, Inc. is the registrar and transfer agent for the Company's Common
Stock.

     Dividends

     For the period ended December 31, 1999 the Company declared a dividend of
$1,000,477. For the period ended May 31, 2000 the Company declared and paid a
dividend of $200,000. The previous public shell did not pay any dividends. The
declaration of any future cash dividends will depend upon the earnings, if any,
the capital requirements and financial position of the Company, general economic
conditions and other conditions.

ITEM 6.   Management's Discussion And Analysis Of Plan Of Operations.

     The following discussion and analysis should be read in conjunction with
the consolidated financial statements and the notes thereto, included as part of
this Annual Report.

     Nature of the Company's Present Operations

        The predecessor of the Company was a private company in 1999 and its
fiscal year end was March 31. The predecessor then underwent a group
reorganization in 1999 as the preparatory step to the public listing in the
United States and in conjunction therewith changed its fiscal year from March 31
to December 31. The predecessor transacted a share exchange with the Company in
March 2000 and has become a wholly owned subsidiary of the Company. As a result
of the share exchange, the fiscal year end was changed to the same as the public
company of May 31. In January 2001, the Company changed its fiscal year end to
match with its wholly owned subsidiary and the fiscal year end is now December
31.

     The success of the Company's proposed plan of operation will depend to a
great extent on the operations, financial condition, and management of ATHI. The
Company cannot ensure that it will be a commercially or economically viable
business operation. It will face all of the risks inherent in a new business,
the majority of which are beyond the control of the management of both the
Company and ATHI.

                                       8
<PAGE>

        Result of Operations

        The following table shows the selected consolidated income statement
data of the Company and its subsidiaries for the seven-month periods ended
December 31, 2000 and December 31, 1999. The data should be read in conjunction
with, and is qualified in its entirety by reference to, the consolidated
financial statements and the notes thereto:

<TABLE>
<CAPTION>
                                        Seven-Month Period Ended Seven-Month Period Ended
(U.S. dollars in thousands)             December 31, 2000        December 31, 1999
                                                                 (Unaudited)
-----------------------------------------------------------------------------------------
<S>                                     <C>                      <C>
Sales Revenue                           12,385                   13,063
    Cost of Sales                       (8,987)                  (10,200)
                                        ---------------          ---------------
Gross Profit                             3,397                   2,863
    Gross Profit Margin                   27.4%                   21.9%

Other Income                             2                       11
Selling Expenses                        (33)                     (16)
General and Administrative Expenses     (997)                    (610)
Financial Expenses                      (3)                      --
                                        ---------------          ---------------
Income before Income Taxes               2,366                   2,248
    Income Taxes                          (209)                  (289)
                                        ---------------          ---------------
Net Income                               2,157                   1,959
                                        ======                   =====

Earning per share - basic and diluted   $0.11                    $0.12

Weighted average common shares
    outstanding - basic and diluted     19,930,000               16,300,000

----------------------------------------------------------------------------------------
</TABLE>

Seven-Month Period Ended December 31, 2000 Compared To Seven-Month Period Ended
December 31, 1999

        Revenue And Gross Profit Margin

        Total revenue for the seven-month period ended December 31, 2000
decreased by US$678,000 or 5% to US$12.4 million, compared to US$13.1 million
for the corresponding period in 1999. During the seven-month period ended
December 31, 2000, the Company continued to shift its focus to high margin PCBs,
which are expected to be the mainstream of the PCB industry for
telecommunication products. New equipment has been purchased during the period
for the production of "high density" double-sided PCBs, a new series of products
that was introduced to clients during the second half of 2000. As a result, the
total revenue for the seven-month period ended December 31, 2000 decreased 5%,
as compared to the corresponding period in 1999 when the Company concentrated
mainly on the traditional single and double-sided PCBs.

        The increase in gross profit margin from 21.9% for the seven-month
period ended December 31, 1999 to 27.4% in year 2000 was the result of the
continuous development of new and higher profit margin area of the PCBs market
during the second half of 2000. Lower production cost was also a factor to a
higher margin due to the bulk purchase of raw material at lower prices.

                                       9
<PAGE>

        Other Income

        Other income during the seven-month period ended December 31, 2000 was
US$2,000, which was US$9,000 less than the corresponding period in 1999. The
majority of other income generated was a result of the resell of scraps from
production. During the seven-month period ended December 31, 2000, fewer scraps
were produced from production.

        Selling Expenses

        Selling expenses increase by US$17,000 or 106% to US$33,000 for the
seven-month period ended December 31, 2000. The increase in lab testing and
shipping related expenses to ensure high quality control was the primarily
result of the increase in selling expenses.

        General And Administration Expenses

        General and administration expenses increased by approximately
US$387,000 or 63% to US$997,000 for the seven-month period ended December 31,
2000 from US$610,000 for the corresponding period in 1999. The following
events occurred during the seven-month period ended December 31, 2000
contributed to the overall increase in general and administration expenses:

        (a)   Legal and professional fees - Legal and professional fees
              increased by approximately US$70,000 for the seven-month period
              ended December 31, 2000, as compared to the same seven-month
              period in 1999. These additional fees were incurred in connection
              with satisfying SEC requirements as a US public company.

        (b)   Auditor and accounting fees - Auditor and accounting fees
              increased by US$133,000 for the seven-month period ended December
              31, 2000, compared to the same period in 1999. The increase was a
              result of hiring additional outside accounting professionals to
              handle the financial reporting requirements of the SEC.

        (c)   Sub-contracting costs - There was a total amount of approximately
              US$280,000 increase in the general and administration expenses due
              to the accounting adjustment of re-classification of
              sub-contracting costs during the seven-month period ended December
              31, 2000.

        The increase of the above-mentioned general and administration expenses
was partly offset by various other decreases in the general and administration
expenses, including staff allowances, local traveling expenses, and bad-debt
written off.

        Financial Expenses

        The financial expense of approximately US$3,000 for the seven-month
period ended December 31, 2000 was the result of the bank charges for the line
of credit facility, compared no financial charge for the same corresponding
period in year 1999. The Company maintained no outside debt and did not have any
interest expense on long-term debt facilities.

                                      10
<PAGE>

        Income Taxes

        The increase in income taxes was the result of the increase in income
before taxes. Under the Hong Kong Tax Authority's Departmental Interpretation
and Practice Notes, a company based in Hong Kong, but with substantially all of
its manufacturing operations located in the PRC conducted under a processing
agreement with a PRC company, can enjoy profit appointment under which 50% of
its manufacturing profit is subject to Hong Kong profits tax. Therefore, the
effective tax rate of the Company is approximately 8% p.a. Such tax concession
is granted based on annual application by the Company.

        Net Income

        For the seven-month period ended December 31, 2000, net income increased
by US$198,000 or 10.1% to US$2,157,000, compared to US$1,959,000 for the
corresponding period in 1999. The increase was the result of shifting focus to
high margin PCBs Production and cutting down of staff allowances and traveling
expenses.

        Earning Per Share

        Earning per share for the seven-month period ended December 31, 2000 was
$0.11, a decrease of $0.01 from the same corresponding period in 1999. The
decrease was mainly due to the computation of the weighted average common shares
outstanding - basic and diluted.

Twelve-Month Period Ended December 31, 2000 Compared To Twelve-Month Period
Ended December 31, 1999

        The following data should be read in conjunction with, and is qualified
in its entirety by reference to, the consolidated financial statements of the
Company and notes thereto and other financial information included as part of
the Annual Report:

<TABLE>
<CAPTION>
                                    Twelve-Month Period Ended Twelve-Month Period Ended
(U.S. dollars in thousands)         December 31, 2000         December 31, 1999
----------------------------------------------------------------------------------------
<S>                                 <C>                       <C>
Sales Revenue                       20,401                    21,591
    Cost of Sales                   (14,661)                  (16,787)
                                    ---------------           ---------------
Gross Profit                        5,740                     4,804
    Gross Profit Margin             28.1%                     22.3%

Other Income                        4                         28
Selling Expenses                    (45)                      (27)
General and Administrative          (1,349)                   (774)
    Expenses

Financial Expenses                  (3)                       --
                                    ---------------           ---------------
Income before Income Taxes          4,347                     4,031
    Income Taxes                    (377)                     (445)
                                    ---------------           ---------------
Net Income                          3,970                     3,586
                                    =====                     =====

Earning per share - basic and       $0.21                     $0.22
    diluted

Weighted average common shares
    outstanding - basic and         19,179,136                16,300,000
    diluted
----------------------------------------------------------------------------------------
</TABLE>

                                      11
<PAGE>

        Revenue And Gross Profit Margin

        Total revenue for the twelve-month period ended December 31, 2000
decreased by US$ 1.2 million or 6% to US$20.4 million, compared to US$21.6
million for the same corresponding period in year 1999. The decrease was the
result of shifting to the production of higher profit margin PCBs which are
expected to be the mainstream of the PCB industry for telecommunication products
in the PRC, rather than only concentrating on traditional double and single
sided PCBs.

        The 5.8% increase in the gross profit margin from 22.3% in 1999 to 28.1%
in 2000 was the primarily result of penetration of the higher margin PCBs market
during the second half of the year 2000. Reclassification of sub-contracting
costs from cost of sales to general and administration expenses in year 2000
contributed to approximately 1% of the increase.

        Other Income

        The reselling of scraps contributed to the majority of other income.
During the twelve-month period ended December 31, 2000, fewer scraps were
produced from production.

        Selling Expenses

        Selling expenses increase by US$18,000 or 67% to US$45,000 for the
twelve-month period ended December 31, 2000. The increase in lab testing and
shipping related expenses to ensure high quality control and on-time delivery
was the primary result of the increase in selling expenses.

        General And Administration Expenses

        General and administration expenses increased by approximately
US$575,000 or 74% to US$1,349,000 million for the twelve-month period ended
December 31, 2000 from US$774,000
                                      12
<PAGE>

for the same corresponding period in 1999. The following events occurred during
the twelve-month period ended December 31, 2000 contributed to the overall
increase in general and administration expenses:

        (d)   Legal and professional fees - Legal and professional fees
              increased by approximately US$106,000 for the twelve-month period
              ended December 31, 2000, as compared to the same twelve-month
              period in 1999. These additional fees were incurred in connection
              with satisfying SEC requirements as a US public company.

        (e)   Auditor and accounting fees - Auditor and accounting fees
              increased by US$187,000 for the twelve-month period ended December
              31, 2000, compared to the same period in 1999. The increase was a
              result of hiring additional outside accounting professionals to
              handle the financial reporting requirements of the SEC.

        (f)   Sub-contracting costs - There was a total amount of approximately
              US$284,000 increase in the general and administration expenses due
              to the accounting adjustment of re-classification of
              sub-contracting costs during the twelve-month period ended
              December 31, 2000.

        Financial Expenses

        The financial expense of approximately US$3,000 for the seven-month
period ended December 31, 2000 was the result of the bank charges for the line
of credit facility, compared no financial charge for the same corresponding
period in year 1999. The Company maintained no outside debt and did not have any
interest expense on long-term debt facilities.

        Income Taxes

        The increase in income taxes was the result of the increase in income
before taxes. Under the Hong Kong Tax Authority's Departmental Interpretation
and Practice Notes, a company based in Hong Kong, but with substantially all of
its manufacturing operations located in the PRC conducted under a processing
agreement with a PRC company, can enjoy profit appointment under which 50% of
its manufacturing profit is subject to Hong Kong profits tax. Therefore, the
effective tax rate of the Company is approximately 8% p.a. Such tax concession
is granted based on annual application by the Company.

        Net Income

        For the twelve-month ended December 31, 2000, net income was
US$3,970,000 which was US$384,000 more than the same corresponding period in
1999. The increases were the result of shifting to high profit margin products,
rather than concentrating mainly on the traditional single and double-sided
PCBs.

        Earnings Per Share

                                      13
<PAGE>

        Earnings per share for the twelve-month period ended December 31, 2000
was $0.21, a decrease of $0.01 from the same corresponding period in 1999. The
decrease was mainly due to the computation of the weighted average common shares
outstanding - basic and diluted.

Liquidity and Capital Resources

Seven-Month Period Ended December 31, 2000 Compared To Five-Month Period Ended
May 31, 2000

        Cash and cash equivalents were US$240,000 as of December 31, 2000. This
represents a decrease of US$21,000 from May 31, 2000. The decrease was primarily
due to a cash deposit paid for potential acquisition targets during the seven-
month period ended December 31, 2000, offsetting partly by positive cash flow
from operating activities and no cash paid out for the repayment of financing
activities. This positive cash flow from operating activities accounted for
approximately US$1 million over the five-month period ended May 31, 2000; and no
cash was paid for the repayment of activities from financing that was accounted
for approximately US$2 million during the five-month period ended May 31, 2000.
The Company entered into a letter of intent to acquire a manufacturing facility
in Shanghai and paid cash deposit of approximately US$3.3 million.

        Accounts receivable decreased by US$883,000 from US$2.7 million as of
May 31, 2000 to US$1.8 million as of December 31, 2000. The decrease was
primarily due to an increase in collections which resulted from shortened terms
of sales imposed by management. Inventory levels have decreased by US$139,000
from US$737,000 as of May 31, 2000 to US$598,000 as of December 31, 2000. The
decrease in inventory levels were the result of management's decision to discard
obsolete inventory and the implementation of the just-in-time inventory control
technique.

        Management believes that the level of financial resources is a
significant competitive factor in the PCB industry and accordingly may choose at
any time to raise additional capital through debt or equity financing to
strengthen its financial position, facilitate growth and provide the Company
with additional flexibility to take advantage of business opportunities.

Accounting Adjustments

        Quarterly Report of November 30, 2000

        An accounting entry of US$1,551,469 was incorrectly classified as
amounts due from stockholder in the quarterly report of November 30, 2000. This
entry was subsequently re-classified as cash and subsequently paid out as part
of the cash deposit for the possible acquisition of a manufacturing plant in
Shanghai.

        Prior Period Adjustment

        In the auditors' report dated May 31, 2000, fixed assets were restated
by US$1,209,949 with related accumulated depreciation being understated by
US$1,662,323 in the consolidated financial statements of the Company for the
period ended May 31, 2000. In aggregate, the net asset value of the Company was
overstated by US$452,374 in the consolidated financial statements for the period
ended 31 May 2000. The balance of retained earnings at May 31, 2000 has been
adjusted accordingly as prior period adjustment.

        In prior periods, Dongguan Fortune Circuit Factory Company Limited
("Dongguan Fortune") and Horn Kingdom Limited ("Horn Kingdom") both operated in
the PRC for the Company, had not been properly accounted for in accordance with
the International Accounting Standards as subsidiaries in the Company's
consolidated accounts. The Company did not properly eliminate the inter-company
sub-contracting charges made payable to Dongguan Fortune by another related
company, Fortune ("Conductive Carbon") PCB Factory Company Limited in the
preparation of its consolidated accounts. As such, the amount of accounts
payable in the consolidated accounts as of May 31, 2000 had been overstated by
US$144,787. Prior period adjustment was made as a result together with a
corresponding adjustment in retained profits.

        In prior periods, technical service charges were made to Horn Kingdom by
Dongguan Fortune. Such revenue received by Horn Kingdom was probably subject to
taxation in the PRC, but no PRC taxation had ever been provided in the Company's
consolidated accounts and such arrangement was mistakenly treated as costs of
processing agreement. The PRC tax under-provision amounted to US$320,774. Prior
period adjustment was made as a result together with a corresponding adjustment
in retained profits for the under-provision as at May 31, 2000.

        In addition, there were other omissions of expenditures in the
consolidated accounts for the prior period. The total effects of these together
with the prior period adjustments in respect of Dongguan Fortune and Horn
Kingdom amounted to US$183,774, which have been adjusted to retained profits as
at May 31, 2000.

                                      14
<PAGE>

ITEM 7.   Financial Statements.

     The Company's audited consolidated financial statements are apended hereto
and incorporated herein by reference.

                                       16
<PAGE>

ITEM 4.  CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT

     Effective October 17, 2000, Score One, Inc., a Nevada corporation (the
"Company"), accepted the resignation of BDO International ("BDO"), as the
Company's independent accountants. Effective November 15, 2000, the Company
engaged Blackman Kalick Bartelstein LLP ("BKL") as the Company's new independent
accountants. The resignation of BDO and the retention of BKL were accepted by
the Company's Board of Directors.

     Prior to the engagement of BKL, neither the Company nor anyone on its
behalf consulted with such firm regarding the application of accounting
principles to a specified transaction, either completed or uncompleted, or type
of audit opinion that might be rendered on the Company's financial statements.

     BDO audited the Company's financial statements for the period from January
1, 2000 to May 31, 2000. BDO's report for this period did not contain an adverse
opinion or a disclaimer of opinion, nor was the report qualified or modified as
to uncertainty, audit scope or accounting principles.

     During the period from June 1, 2000 to October 17, 2000 and the period from
January 1, 2000 to May 31, 2000, there were no disagreements with BDO on any
matter of accounting principles or practices, financial statement disclosure, or
auditing scope or procedure, which disagreements, if not resolved to the
satisfaction of BDO, would have caused such firm to make reference to the
subject matter of the disagreements in connection with its report on the
Company's financial statements. In addition, there were no such events as
described under Item 304(a)(1)(IV)(B) of Regulation S-B during the period from
January 1, 2000 to May 31, 2000 and the subsequent interim periods through
October 17, 2000.

     The Company has provided BDO with a copy of the disclosure contained
herein, and has requested that it furnish the Company with a letter addressed to
the Securities and Exchange Commission stating whether it agrees with the
statements made by the Company in response to Item 304(a) regarding its
involvement with the Company as independent accountants and, if not, stating the
respects in which it does not agree. A copy of BDO's letter is attached as an
exhibit to this Current Report on Form 8-K.

                                      17

<PAGE>

                                   PART III

ITEM 9.   Directors, Executive Officers, Promoters And Control Persons;
          Compliance With Section 16(A) Of The Exchange Act.

     The following table and text sets forth the names and ages of all directors
and executive officers of the Company and the key management personnel as of
December 31, 2000. The Board of Directors of the Company is comprised of only
one class. All of the directors will serve until the next annual meeting of
stockholders and until their successors are elected and qualified, or until
their earlier death, retirement, resignation or removal. Executive officers
serve at the discretion of the Board of Directors, and are appointed to serve
until the first Board of Directors meeting following the annual meeting of
stockholders. Also provided is a brief description of the business experience of
each director and executive officer and the key management personnel during the
past five years and an indication of directorships held by each director in
other companies subject to the reporting requirements under the Federal
securities laws.

<TABLE>
<CAPTION>
NAME                           AGE             POSITION
----                           ---             --------
<S>                            <C>             <C>
Mr. Wing Cheong Ho             39              Chairman of the Board and President
Mr. Wing Hung Ho               45              Director and Secretary
Mr. Zhao Jian Li               41              Director, Treasurer and VP - Business Development
Mr. Kin Kong Yeung             39              VP - Administration
Mr. Kwok Ming Li               27              VP - Engineering
Mr. Bing Leung Wan             37              Director
Mr. Paul Wing-Kwong Ho         35              Director
Dr. Chi-Sum Man                36              Director
</TABLE>

     Mr. Wing Cheong Ho - Chairman of the Board and President - is the founder
of ATHI and has over 10 years of experience in the printed circuit board
industry in Hong Kong as well as in the People's Republic of China.  Before
founding ATHI, he worked for Elec & Eltek Co., Inc. a company listed on the Hong
Kong Exchange.

     Mr. Wing Hung Ho - Director and Secretary- has over 10 years of experience
in factory management and is currently taking a major role in managing ATHI's
manufacturing plant in the People's Republic of China.  From 1998 to 1999 Mr.
Wing Hung Ho was general manager of Cohin Philippines, Inc. and from 1989 to
1998 was general manager of Volite Garment Factory, Ltd.

     Mr. Zhao Jian Li - Director, Treasurer and VP - Business Development - has
over 20 years experience in the electronics industry in Hong Kong and in the
People's Republic of China. Before joining the Company, Mr. Li was the Business
Development General Manager of Hong Xing Electronics and Telecommunications Co.
Ltd. from 1995 to 1998. From 1998 to 2000 Mr. Li served as the head of Business
Development for Fortune (Conductive Carbon) PCB Factory Co., Ltd. He is actively
participating in the provision of the company's future strategies and
development.

                                      18
<PAGE>

     Mr. Kin Kong Yeung - VP - Administration - served as administrative manager
of Fortune Printed Circuit Board Factory, Ltd. since 1998 and as Personnel
Officer from 1996 to 1998.  From 1994 to 1996 Mr. Kin Kong Yeung served as
administrative officer of Wing Shing Ind. Co.

     Mr. Kwok Ming Li - VP - Engineering - served as engineering manager of
Fortune Printed Circuit Board Factory Ltd. since 1998 and as a mechanical
engineering manager from 1996 to 1998.  From 1993 to 1994 Mr. Kwok Ming Li was a
technician for B.A. Electronic Co.

     Mr. Bing Leung Wan - Director - Mr. Wan is the managing partner of Roger
B.L. Wan & Co. a public accounting firm that provides audit and consultancy
services. Mr. Wan has over 15 years experience in the field of audit and
accounting services. Mr. Wan is a member of the Audit Committee.

     Mr. Paul Wing-Kwong Ho - Director - Mr. Ho served as a Solicitor from 1994
to 1995. From 1995 Mr. Ho worked as a Senior Government Counsel in the
Prosecutions Division Department of Justice, Hong Kong SAR Government. Mr. Ho is
a member of the Audit Committee.

     Dr. Chi-Sum Man - Director - Dr. Man served as a Researcher for the Center
for Urban Planning and Environment Management at the University of Hong Kong
from 1996 to 1997. From 1997 to 1998 Dr. Man served as a Researcher for the Hong
Kong Policy Researcher Institute and from 1998 to present Dr. Man serves as the
Chief Executive Officer of Green Power. Dr. Man is a member of the Audit
Committee.

     Mr. Wing Cheong Ho, Mr. Wing Hung Ho and Mr. Paul Wing Kwong Ho are
brothers.

Section 16(a) Beneficial Ownership Compliance

Section 16(a) of the Securities Exchange Act of 1934, as amended, requires the
Company's executive officers and directors and persons who own more than 10% of
a registered class of the Company's equity securities to file with the
Securities and Exchange Commission initial statements of beneficial ownership,
reports of changes in ownership and annual reports concerning their ownership of
common stock and other equity securities of the Company, on Forms 3, 4 and 5
respectively. Executive officers, directors and greater than 10% shareholders
are required by Commission regulations to furnish the Company with copies of all
Section 16(a) reports they file. To the best of the Company's knowledge (based
solely upon a review of the Form 3, 4 and 5 filed), no officer, director or 10%
beneficial shareholder failed to file on a timely basis any reports required by
Section 16(a) of the Securities Exchange Act of 1934, as amended.

ITEM 10.  Executive Compensation.

     The following table sets forth the compensation paid to the Company's Chief
Executive Officer who was the only executive officer to receive compensation in
excess of $100,000.

<TABLE>
<CAPTION>
                                                                                       ANNUAL
NAME                               AGE              POSITION                        COMPENSATION
----                               ---              --------                        ------------
<S>                                <C>              <C>                             <C>
Mr. Wing Cheong Ho                 38               President and Chairman of the   $293,000
                                                    Board
</TABLE>

     Neither ATHI nor any subsidiary maintains or has maintained in the past,
any employee benefit plans.

     During the seven-month period ended December 31, 2000, certain corporate
actions were conducted by unanimous written consent of the Board of Directors.
Directors receive no compensation for serving on the Board of Directors, but are
reimbursed for any out-of-pocket expenses, if any, incurred in attending board
meetings. The Board of Directors has established an audit committee which
consists of Messrs. Bing Wan, Paul Ho, and Dr. Chi-Sum Man. They are also
independent directors of the Company.

ITEM 11.  Security Ownership Of Certain Beneficial Owners And Management.

     Security Ownership of Certain Beneficial Owners and Management

                                      19
<PAGE>

     The following table sets forth the number of shares of Common Stock
beneficially owned as of December 31, 2000 by (i) those persons or groups known
to the Company who will beneficially own more than 5% of the Company's Common
Stock; (ii) each director and director nominee; (iii) each executive officer;
and (iv) all directors and executive officers as a group. The information is
determined in accordance with Rule 13d-3 promulgated under the Exchange Act
based upon information furnished by persons listed or contained in filings made
by them with the SEC or by information provided by such persons directly to the
Company. Except as indicated below, the stockholders listed possess sole voting
and investment power with respect to their shares.


                                       Amount And       Percent Of
                                        Nature Of          Class
                                       Beneficial
                                          Owner


I*World Limited                        16,300,000          81.79%
Blk 2, Flat 6, 3rd Floor
Tak Fung Industrial Centre
166-176 Texaco Road,
Tseun Road, Hong Kong

Wing Cheong Ho (2)                      9,454,000          47.44%
Blk 2, Flat B, 6th Floor
Royal Ascot
Shatin, Hong Kong

Wing Hung Ho (3)                        1,956,000           9.81%
Blk 2, Flat B, 22nd Floor
Royal Ascot
Shatin, Hong Kong

Yue Fung Group Holding Limited (4)      4,890,000          24.54%
32nd Floor Wharf Cable Tower
9 Hoi Shing Road
Tseun Wan, Hong Kong

Hong Kong Public Minority (5)           3,139,380          15.75%

                                      20
<PAGE>

Simply Noble Limited (6)                     1,750,620           8.78%
32nd Floor Wharf Cable Tower
9 Hoi Shing Road
Tseun Wan, Hong Kong

All Executive officers and Directors as a   11,410,000          57.25%
 Group (2 persons)

_______________________
     (1)  Based on 19,930,000 shares of Common Stock actually outstanding as of
          the date of this Information Statement.

     (2)  Based on Mr. Wing Cheong Ho's 58% ownership of I*World Limited.

     (3)  Based on Mr. Wing Hung Ho's 12% ownership of I*World Limited.

     (4)  Based on Yue Fung Group Holding Limited's (a Bermuda Corporation) 30%
          ownership of I*World Limited.

     (5)  Based on the Hong Kong Public Minority's 64.2% ownership of Yue Fung
          Group Holding Limited.

     (6)  Based on Simply Noble Limited's (a British Virgin Island Corporation)
          35.8% ownership of Yue Fung Group Holding Limited.

                                      21
<PAGE>

ITEM 12.  Certain Relationships And Related Transactions.

     The Company

     In June 1996, the Company sold 20,000 shares of Common Stock to Park Street
Investments, Inc. ("PSI") for $2,000.  Ken Kurtz, a former officer and director,
is the sole officer, sole director and sole shareholder of PSI.  The shares were
paid as compensation for services rendered to the Company in connection with the
formation of Company.

     Prior to the Acquisition, Mr. Kurtz owned, through  Park Street
Investments, Inc., 3,300,000 of the Company's 3,630,000 shares of Common Stock
issued and outstanding or approximately 91%.  Park Street Investments, Inc. now
owns 24,925 shares which shares represent approximately 13% of the Company's
total issued and outstanding Common Stock.

     Advanced Technology International Holdings Limited ("ATHI")

     On November 18, 1998, ATHI acquired a 100 percent equity interest in a
newly incorporated shell company, Ford Reach (H.K.) Limited ("Ford Reach"), for
consideration of $129.  Ford Reach is a limited liability company incorporated
in Hong Kong.  Pursuant to an Acquisition Agreement dated January 1, 1999, Ford
Reach acquired substantially all the assets and liabilities of Fortune
Conductive Carbon PCB Factory Co., Ltd. ("Fortune") for consideration of
$129,032.  Fortune is a limited liability company incorporated in Hong Kong and
is wholly owned by Mr. Ho Wing Cheong, a director and stockholder of ATHI.

     On January 8, 1999, ATIH, through it immediate subsidiary Lassie Palace
Limited (Lassie), acquired a 100% equity interest in a newly incorporated shell
company, Fortune (Conductive Carbon) PCB Factory Company Limited (Fortune BVI)
(formerly known as Goal Best Gold Limited) at a consideration of $100. The name
of Goal Best Gold Limited was changed to Fortune (Conductive Carbon) PCB Factory
Company Limited on November 2, 1999. Fortune BVI is a limited liability company
incorporated in the British Virgin Islands.

On May 1, 2000, the Company entered into a rental agreement for five years with
Grand Link International Limited of which Mr. Ho Wing Cheong, director and
stockholder of the Company, is a stockholder and director.

Sales to a stockholder, Yue Fung Development Limited ("YFD"), during the seven
month period ended December 31, 2000 were $397,143 which represents 3.2% of
total sales for the period. During the five-month period ended May 31, 2000
sales to YFD were $351,244 which represents 4.4% of total sales for the period.

As of December 31, 2000 and May 31, 2000, balances with directors and
stockholders consist of the following:

<TABLE>
<CAPTION>
                                                             December 31,              May 31,
                                                                 2000                   2000
                                                          ----------------       -----------------
<S>                                                      <C>                    <C>
Amount due to directors and stockholders:
  Mr. Ho Wing Cheong                                      $        102,281       $               0
                                                          ================       =================
</TABLE>

The amounts due from directors and stockholders are unsecured, interest-free and
have no fixed terms of repayment.

                                      22
<PAGE>

ITEM 13.  Exhibits, List And Reports On Form 8-K.


Exhibit Number                       Description

2.1            Share Exchange Agreement dated as of February 1, 2000 by and
               among the Company, Ken Kurtz, ATHI and I.WORLD, Incorporated
               herein by reference from the Company's filing on Form 8-K filed
               on March 15, 2000.*

3.1            Articles of Incorporation, Incorporated herein by reference from
               the Company's fling on Form 10SB on July 7, 1999.*

3.2            Bylaws Incorporated herein by reference from the Company's filing
               on Form 10SB on July 7, 1999.*

----------
* Previously filed

Reports on Form 8K

During the last quarter of the fiscal year covered by this report the Company
filed the following reports on Form 8-K:

1.  Filed November 24, 2000 - reporting Item 4.

2.  Filed February 2, 2001 - reporting Item 8.

                                      23
<PAGE>

ITEM 14.  Signatures

     In accordance with Section 13 or 15(d) of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
                                            /s/ Wing Hung Ho
Dated:  May 7, 2001                ________________________________________
                                    Wing Hung Ho, Director and Secretary


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

                                            /s/ Wing Cheong Ho
                                  ________________________________________
Dated: May 7, 2001                Wing Cheong Ho, President

                                            /s/ Wing Tsan Ho
                                  ________________________________________
Dated: May 7, 2001                Wing Tsan Ho, Chief Financial Officer

                                            /s/ Zhao Jian Li
Dated: May 7, 2001                ________________________________________
                                    Zhao Jian Li, Director, Treasurer and VP
                                    Business Development

                                            /s/ Bing Leung Wan
Dated: May 7, 2001                ________________________________________
                                    Bing Leung Wan, Director

                                            /s/ Paul Wing Kwong Ho
Dated: May 7, 2001                ________________________________________
                                    Paul Wing Kwong Ho, Director

                                            /s/ Chi-Sum Man
Dated: May 7, 2001                ________________________________________
                                    Chi-Sum Man, Director

                                      24

<PAGE>

                                Score One, Inc.

                  Index to Consolidated Financial Statements

================================================================================

                                                                           Pages
                                                                           -----

Report of Independent Auditors                                              F-1

Consolidated Balance Sheets                                                 F-2

Consolidated Statements of Operations                                       F-3

Consolidated Statements of Stockholder's Equity                             F-4

Consolidated Statements of Cash Flows                                       F-5

Notes to Consolidated Financial Statements                            F-6 - F-16

<PAGE>

                         Report of Independent Auditors



To the Board of Directors of
Score One, Inc.


We have audited the accompanying consolidated balance sheet of Score One, Inc.
as of December 31, 2000, and the related consolidated statements of operations,
stockholders' equity and cash flows for the seven-month period ended December
31, 2000. 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 audit. The financial statements for the Company for the
year ended May 31, 2000, were audited by other auditors whose report dated
September 8, 2000, expressed an unqualified opinion on those financial
statements, prior to the restatement described in Note 11.

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

In our opinion, the consolidated financial statements referred to above, present
fairly, in all material respects, the consolidated financial position of Score
One Inc. as of December 31, 2000, and the consolidated results of its operations
and cash flows for the seven-month period ended December 31, 2000, in conformity
with accounting principles generally accepted in the United States of America.

We have also audited the adjustments described in Note 11 that were applied to
restate the financial statements for the five-month period ended May 31, 2000.
In our opinion, such adjustments were appropriate and have been properly
applied.


/s/ Blackman Kallick Bartelstein, LLP

Chicago, Illinois
March 22, 2001
<PAGE>

                                Score One, Inc.

                          Consolidated Balance Sheets

================================================================================

(Expressed in US Dollars)
                                     Assets
                                     ------
                                                     December 31,
                                                         2000      May 31, 2000
                                                     ------------  ------------
----------------------------------------------------
Current Assets
 Cash and cash equivalents                             $  239,909    $  261,057
 Accounts receivable (net of allowance for doubtful
   accounts of $0 and $193,549 as of December 31,
   2000 and May 31, 2000, respectively)                 1,792,096     2,675,018
 Other receivables, deposits and prepayments                2,948         1,753
 Inventories                                              598,233       736,678
 Deferred income taxes                                     20,984        15,484
                                                       ----------    ----------
       Total Current Assets                             2,654,170     3,689,990
                                                       ----------    ----------
Other Assets
 Plant and equipment, net                               3,227,815     2,875,935
 Deposit on investment                                  3,380,645             -
                                                       ----------    ----------
       Total Other Assets                               6,608,460     2,875,935
                                                       ----------    ----------
       Total Assets                                    $9,262,630    $6,565,925
                                                       ==========    ==========

                      Liabilities and Stockholders' Equity
                      ------------------------------------

Current Liabilities
   Accounts payable                                    $1,537,789    $1,273,524
   Other payables and accrued expenses                    199,589       218,400
   Income taxes payable                                   817,429       619,097
   Bank overdraft                                               -        22,429
                                                       ----------    ----------
       Total Current Liabilities                        2,554,807     2,133,450
                                                       ----------    ----------

Long-Term Liabilities
   Amount payable to stockholder                          102,281             -
   Deferred income taxes                                  242,265       226,065
                                                       ----------    ----------
       Total Long-Term Liabilities                        344,546       226,065
                                                       ----------    ----------
       Total Liabilities                                2,899,353     2,359,515
                                                       ----------    ----------

Stockholders' Equity
   Preferred stock, par value $0.001 per share;
     5,000,000 shares authorized, none issued                   -             -
   Common stock, par value $0.001 per share;
     41,250,000 shares authorized;
     19,930,000 shares issued and outstanding              19,930        19,930
   Retained earnings                                    6,343,347     4,186,480
                                                       ----------    ----------
       Total Stockholders' Equity                       6,363,277     4,206,410
                                                       ----------    ----------
Total Liabilities and Stockholders' Equity             $9,262,630    $6,565,925
                                                       ==========    ==========

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

                                      F-2
<PAGE>

                                Score One, Inc.

                     Consolidated Statements of Operations

================================================================================


(Expressed in US Dollars)

                                                    Seven           Five
                                                 Months Ended   Months Ended
                                                 December 31,      May 31,
                                                     2000           2000
                                                 ------------   ------------

Net Sales                                         $12,384,540    $ 8,016,363

Cost of Sales                                      (8,987,074)    (5,673,874)
                                                  -----------    -----------

Gross Profit                                        3,397,466      2,342,489

Selling Expenses                                      (33,477)       (11,920)

General and Administrative Expenses                  (997,384)      (351,203)
                                                  -----------    -----------

Operating Income                                    2,366,605      1,979,366

Interest Expense                                       (2,912)            --

Other Income                                            2,206          1,843
                                                  -----------    -----------

Income before Income Taxes                          2,365,899      1,981,209

Income Taxes                                         (209,032)      (167,646)
                                                  -----------    -----------

Net Income                                        $ 2,156,867    $ 1,813,563
                                                  ===========    ===========

Earnings Per Share - Basic and Diluted                  $0.11          $0.10
                                                        =====          =====
Weighted Average Common Shares Outstanding -
  Basic and Diluted                                19,930,000     18,115,000
                                                  ===========    ===========





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

                                      F-3
<PAGE>

                                Score One, Inc.

                Consolidated Statements of Stockholders' Equity


================================================================================
<TABLE>
<CAPTION>



                                                Common Stock         Retained
                                           ----------------------
                                           # of Shares    Amount     Earnings
                                           ------------ ---------  ------------


<S>                                        <C>          <C>        <C>
Balance as of December 31, 1999                  1,000  $  1,000   $ 2,591,847

Effect of Merger                                (1,000)   (1,000)        1,000

Issuance of Shares for Score One
  Transaction                               16,300,000    16,300       (16,300)

Stock Split Adjusted Original Shares in
  Connection with Reverse Merger             3,630,000     3,630        (3,630)

Net Income                                           -         -     1,813,563

Dividends declared                                   -         -      (200,000)
                                            ----------  --------   -----------

Balance as of May 31, 2000                  19,930,000    19,930     4,186,480

Net Income                                           -         -     2,156,867
                                            ----------  --------   -----------

Balance as of December 31, 2000             19,930,000  $ 19,930   $ 6,343,347
                                            ==========  ========   ===========
</TABLE>

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

                                      F-4
<PAGE>

                                Score One, Inc.

                     Consolidated Statements of Cash Flows

================================================================================

<TABLE>
<CAPTION>
                                                                   Seven           Five
                                                                Months Ended   Months Ended
                                                                December 31,      May 31,
                                                                    2000           2000
                                                                ------------   ------------
<S>                                                             <C>            <C>
Cash Flows from Operating Activities
  Net income                                                    $ 2,156,867    $ 1,813,563
  Adjustments to reconcile net income
   to net cash provided by operating activities
    Depreciation of plant and equipment                             628,435        392,093
    Loss on sale of fixed assets                                     53,355              -
    Provision for losses on receivables- Customers                  116,080              -
    Deferred income taxes                                            10,700         38,064
    Changes in
      Accounts receivable                                           766,842        561,685
      Other receivables, deposits and prepayments                    (1,195)       427,192
      Inventories                                                   138,445       (145,025)
      Amount due from stockholder                                         -        394,441
      Accounts payable                                              264,265       (463,456)
      Other payables and accrued expenses                           (18,811)       149,581
      Income taxes payable                                          198,332        129,582
                                                                -----------    -----------

      Net Cash Provided by Operating Activities                   4,313,315      3,297,720
                                                                -----------    -----------

Cash Flows from Investing Activities
  Acquisition of plant and equipment                             (1,033,670)      (923,768)
  Deposit on investment                                          (3,380,645)             -
                                                                -----------    -----------

      Net Cash Used in Investing Activities                      (4,414,315)      (923,768)
                                                                -----------    -----------

Cash Flows from Financing Activities
  Change in bank overdraft                                          (22,429)        22,429
  Borrowing on (repayment of) amount payable to stockholder         102,281     (1,049,018)
  Dividend paid                                                           -     (1,200,477)
                                                                -----------    -----------

      Net Cash Provided by (Used in) Financing Activities            79,852     (2,227,066)
                                                                -----------    -----------

Net (Decrease) Increase in Cash and Cash Equivalents                (21,148)       146,886

Cash and Cash Equivalents, Beginning of Period                      261,057        114,171
                                                                -----------    -----------

Cash and Cash Equivalents, End of Period                        $   239,909    $   261,057
                                                                ===========    ===========
Supplemental Disclosure of Cash Flow Information
 Interest paid during the period                                $    74,828    $       415
                                                                ===========    ===========

 Taxes paid during the period                                   $         -    $         -
                                                                ===========    ===========
</TABLE>

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


                                      F-5
<PAGE>

                                Score One, Inc.

                  Notes to Consolidated Financial Statements

================================================================================

(Expressed in US Dollars)


Note 1 - Organization and Description of Business

Score One Inc. (the Company) was initially incorporated in the State of Nevada
on June 7, 1996.

On March 10, 2000, the Company executed a Share Exchange Agreement with Advanced
Technology International Holdings Limited (ATIH) and the sole stockholder of
ATIH pursuant to which 100% of the issued share capital of ATIH was acquired by
the Company, in exchange for 16,300,000 shares of the Company's $0.001 par value
common stock, which were issued after a 1.65 for 1 forward stock split mentioned
below.

On March 14, 2000, the Company effected a 1.65 for 1 forward stock split. After
issuing 16,300,000 shares of the common stock to the original stockholder of
ATIH, the Company has a total of 19,930,000 shares of common stock issued and
outstanding. For accounting purposes, the acquisition has been treated as the
acquisition of the Company by ATIH with ATIH as the acquirer (reverse merger).
The historical financial statements prior to March 10, 2000 are those of ATIH.
All shares and per share data prior to the acquisition have been restated to
reflect the stock issuance as a recapitalization of ATIH.

ATIH was incorporated in the British Virgin Islands on November 18, 1998, under
the name of Modern Frame International Limited (MFIL). The name of MFIL was
changed to ATIH on December 23, 1999. The principal activity of the ATIH is to
hold investments in subsidiaries.

On November 18, 1998, ATIH acquired a 100% equity interest in a newly
incorporated shell company, Ford Reach (H.K.) Limited (Ford Reach) at a
consideration of $129. Ford Reach is a limited liability company incorporated in
Hong Kong.

On January 8, 1999, ATIH, through its immediate subsidiary Lassie Palace Limited
(Lassie), acquired a 100% equity interest in a newly incorporated shell company,
Fortune (Conductive Carbon) PCB Factory Company Limited (Fortune BVI) (formerly
known as Goal Best Gold Limited) at a consideration of $100. The name of Goal
Best Gold Limited was changed to Fortune (Conductive Carbon) PCB Factory Company
Limited on November 2, 1999. Fortune BVI is a limited liability company
incorporated in the British Virgin Islands.

Pursuant to a purchase and sale agreement dated January 1, 1999, Ford Reach
acquired substantially all the assets and assumed substantially all the
liabilities of Fortune (Conductive Carbon) PCB Factory Co., Ltd. (Fortune HK), a
limited liability company incorporated in Hong Kong, in exchange for a note
payable to Mr. Ho Wing Cheong of $1,731,664, which was the aggregate book value
of assets acquired less liabilities assumed. Fortune HK is a Hong Kong-based
company and wholly owned by Mr. Ho Wing Cheong, now a director and stockholder
of the Company. ATIH believed that the $1,731,664 approximated the fair market
value of assets acquired less liabilities assumed as of January 1, 1999. This
company is considered to be the predecessor to the Company.

                                      F-6
<PAGE>

                                Score One, Inc.

                  Notes to Consolidated Financial Statements

================================================================================

Note 1 - Organization and Description of Business  (Continued)

Pursuant to a purchase and sale agreement dated January 8, 1999, Fortune BVI
acquired certain plant and equipment from Dongguan Fortune Circuit Factory Co.,
Ltd. (Dongguan Fortune) in exchange for a note payable and a dividend payable to
Mr. Ho Wing Cheong of $1,890,962 and $241,305, respectively, which was the
aggregate book value of these assets as of January 1, 1999. Dongguan Fortune is
a People's Republic of China (PRC)-based company in which Mr. Ho Wing Cheong has
a controlling interest. Based on the valuation report prepared by Messrs. LCH
(Asia Pacific) Surveyors Limited dated May 3, 2000, ATIH believed that the
$1,890,962 approximated the fair market value of those assets acquired as of
January 8, 1999.

Both Ford Reach and Fortune BVI are engaged in the manufacture and sale of
printed circuit boards for telecommunication systems, scientific calculators and
audio visual equipment to companies in Greater China. Ford Reach and Fortune BVI
commenced operations on January 1, 1999 and January 8, 1999, respectively. On
October 1, 1999, Ford Reach transferred all its assets and liabilities to
Fortune BVI at their book values and has become dormant since then.

On January 23, 2001, the Company elected to change its fiscal year-end from May
31 to December 31.

Note 2 - Unaudited Comparable Financial Information

As described in Note 1, the Company elected to change its fiscal year end from
May 31 to December 31. Unaudited comparable financial information for the seven-
month period ended December 31, 1999 is presented in the table below.

In addition, as described in Note 1, the Company executed a Share Exchange
Agreement with ATIH and the sole stockholder of ATIH. For accounting purposes,
the acquisition has been treated as the acquisition of the Company by ATIH with
ATIH as the acquirer. Unaudited financial information for the comparable five-
month period ended May 31, 1999 is presented in the table below.

Both tables include any adjustments (consisting of normal, recurring
adjustments) which are, in the opinion of management, necessary for a fair
presentation.

                                                  Seven           Five
                                               Months Ended   Months Ended
                                               December 31,      May 31,
                                                   1999           1999
                                               (Unaudited)     (Unaudited)
                                               ------------   ------------

Net Sales                                      $ 13,063,160   $  8,527,946
                                               ============   ============

Gross Profit                                   $  2,862,711   $  1,941,108
                                               ============   ============

Other Income                                   $     11,228   $     16,860
                                               ============   ============

Income Tax                                     $    289,064   $    155,742
                                               ============   ============

Net Income                                     $  1,959,078   $  1,627,246
                                               ============   ============

Earnings per Share - Basic and Diluted         $       0.12   $       0.10
                                               ============   ============

Weighted Average Common Shares Outstanding
   - Basic and Diluted                           16,300,000     16,300,000
                                               ============   ============

                                      F-7
<PAGE>

                                Score One, Inc.

                  Notes to Consolidated Financial Statements

================================================================================

Note 3 - Summary of Important Accounting Policies

Basis of Accounting and Principles of Consolidation
----------------------------------------------------

The consolidated financial statements are prepared in accordance with generally
accepted accounting principles in the United States of America and present the
financial statements of the Company and its wholly owned subsidiaries, ATIH (a
holding company), Ford Reach, Fortune BVI, Fortune HK, Dongguan Fortune, Lassie
Palace Limited and Horn Kingdom Limited (dormant). All material intercompany
transactions have been eliminated.

Foreign Currency Translation and Transactions
----------------------------------------------

The functional currency of the Company is US$ and the financial records are
maintained and the financial statements prepared in US$.  The functional
currency of its subsidiaries is Hong Kong dollars (HK$) and the financial
records are maintained and the financial statements are prepared in HK$.

Foreign currency transactions during the period are translated into US$ at the
exchange rates ruling at the translation dates.  Gain and loss resulting from
foreign currency transactions are included in the statement of operations.
Assets and liabilities denominated in foreign currencies at the balance sheet
date are translated into US$ at period-end exchange rates.  When assets,
liabilities and equity denominated in HK$ are translated into US$, translation
adjustments are included as a component of stockholders' equity.

Exchange rates between US$ and HK$ were fairly stable during the period
presented.  The rate ruling as of December 31, 2000 is US$1: HK$7.75.  Due to
the stability of the exchange rates during the periods presented, there were no
net adjustments in the stockholders' equity.

Revenue Recognition
--------------------

Revenue from goods sold is recognized when title of goods sold has passed to the
buyers, which is at the time of delivery.

                                      F-8
<PAGE>

                                Score One, Inc.

                  Notes to Consolidated Financial Statements

================================================================================

Note 3 - Summary of Important Accounting Policies  (Continued)

Inventories
-----------

Inventories are stated at the lower of cost or market.  Cost is computed using
first-in, first-out method and includes all costs of purchase, cost of
conversion and other costs incurred in bringing the inventories to their present
location and condition. Market value is determined by reference to the sales
proceeds of items sold in the ordinary course of business after the balance
sheet date or to management estimates based on prevailing market conditions.

Cash and Cash Equivalents
--------------------------

Cash and cash equivalents include all highly liquid investments with an original
maturity of three months or less.

Accounts Receivable and Concentration of Credit Risk
-----------------------------------------------------

During the normal course of business, the Company extends unsecured credit to
its customers.  The collectibility of debts owed by its customers depends
substantially on the financial condition and cash flow position of its
customers.  The Company reviews regularly the credit status of each customer on
a case-by-case basis and the provision for doubtful accounts is recorded based
on the management's assessment of the credit status of its customers.

Plant, Equipment and Depreciation
----------------------------------

Plant and equipment are stated at cost.  Depreciation is computed using the
straight-line method to allocate the cost of depreciable assets over the
estimated useful lives of the assets as follows:


                                                Estimated
                                               useful life
                                                (in years)
                                               ------------

           Leasehold improvements                   10
           Furniture and fixtures                    5
           Machinery and moulds                      5
           Transportation equipment                  5
           Computer and telephone equipment          5

Maintenance, repairs and minor renewals are charged directly to the statement of
operations as incurred.  Additions and betterments to plant and equipment are
capitalized. When assets are disposed of, the related cost and accumulated
depreciation thereon are removed from the accounts and any resulting gain or
loss is included in the statement of operations.

Long-Lived Assets
------------------

The Company periodically reviews its long-lived assets for impairment based upon
the estimated undiscounted future cash flows expected to result from the use of
the assets and their eventual disposition.  When events or changes in
circumstances indicate that the carrying amount of an asset may not be
recoverable, the asset is written down to its net realizable value.

                                      F-9
<PAGE>

                                Score One, Inc.

                  Notes to Consolidated Financial Statements

================================================================================


Note 3 - Summary of Important Accounting Policies  (Continued)

Income Taxes
-------------

The Company and its subsidiaries account for income taxes using the liability
method, which requires an entity to recognize deferred tax liabilities and
assets.  Deferred income taxes are recognized based on the differences between
the tax bases of assets and liabilities and their reported amounts in the
financial statements which will result in taxable or deductible amounts in
future years.  Further, the effects of enacted tax laws or rate changes are
included as part of deferred tax expenses or benefits in the year that covers
the enactment in the near-future date.  A valuation allowance will be provided
when there is an uncertainty that a deferred tax benefit will be realized.

Fair Values of Financial Instruments
-------------------------------------

The carrying amounts of certain financial instruments, including cash, accounts
receivable and accounts payable approximate their fair values as of December 31,
2000 and May 31, 2000 because of the relatively short-term maturity of these
instruments.  The fair value of the Company's related party receivables and
payables, and note payable to the major beneficial stockholder cannot be
determined due to the nature of the transactions.

Use of Estimates
-----------------

The preparation of financial statements in accordance with generally accepted
accounting principles requires management to make estimates and assumptions that
affect 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.  Among the more
significant estimates included in the financial statements are the allowance for
doubtful accounts, provision for inventory obsolescence and slow-moving items,
and deferred income tax liability.  Actual results could differ from those
estimates.

New Accounting Pronouncements
------------------------------

In June 1998, the Financial Accounting Standards Board issued Statement of
Financial Accounting Standards No. 133 (SFAS No. 133), Accounting for Derivative
Instruments and Hedging Activities.  SFAS No. 133 requires companies to
recognize all derivative contracts as either assets or liabilities in the
balance sheet and to measure them at fair value.  If certain conditions are met,
a derivative may be specifically designated as a hedge, the objective of which
is to match the timing of gain or loss recognition on the hedging derivative
with the recognition of (i) the changes in the fair value of the hedged asset or
liability that are attributable to the hedged risk or (ii) the earnings effect
of the hedged forecasted transaction.  For a derivative not designated as a
hedging instrument, the gain or loss is recognized as income in the period of
change.  SFAS No. 133 as amended by SFAS No. 137 is effective for all fiscal
quarters of fiscal years beginning after June 15, 2000.

Based on its current and planned future activities relative to derivative
instruments, the Company believes that the adoption of SFAS No. 133 will not
have a significant effect on its financial statements.

                                     F-10
<PAGE>

                                Score One, Inc.

                  Notes to Consolidated Financial Statements

================================================================================

Note 3 - Summary of Important Accounting Policies

New Accounting Pronouncements (Continued)
-----------------------------

On December 3, 1999, the SEC issued Staff Accounting Bulletin 101 (SAB 101),
Revenue Recognition in Financial Statements.  SAB 101 summarizes some of the
SEC's interpretations of the application of generally accepted accounting
principles to revenue recognition.  Revenue recognition under SAB 101 was
initially effective for the Company's first quarter 2000 financial statements.
However, SAB 101B, which was released on June 26, 2000, delayed adoption of SAB
101 until no later than the fourth fiscal quarter 2000.  Changes resulting from
SAB 101 require that a cumulative effect of such changes for 1999 and prior
years be recorded as an adjustment to net income on January 1, 2000, plus an
adjustment of the statement of operations for the three months ended in the
quarter of adoption.

The Company believes that its revenue recognition practices are in substantial
compliance with SAB 101 and that adoption of its provisions were not material to
its annual or quarterly results of operations.

Related Party
--------------

A related party is an entity that can control or significantly influence the
management or operating policies of another entity to the extent one of the
entities may be prevented from pursuing its own interests.  A related party may
also be any party the entity deals with that can exercise that control.

Earnings Per Share
-------------------

Basic and diluted net earnings (loss) per share were computed in accordance with
SFAS No. 128, "Earnings per Share." Basic net earnings per share is computed by
dividing net earnings available to common shareholders (numerator) by the
weighted average number of common shares outstanding (denominator) during the
period and excludes the dilutive effect of stock options and convertible
debentures. Diluted net earnings per share gives effect to all dilutive
potential common shares outstanding during a period. In computing diluted net
earnings per share, the average stock price for the period is used in
determining the number of shares assumed to be reacquired under the treasury
stock method from the exercise of stock options and the if-converted method to
compute the dilutive effect of convertible debentures.

The 16,300,000 shares issued as consideration for the reverse merger are
considered outstanding for all periods presented.

                                     F-11
<PAGE>

                                Score One, Inc.

                  Notes to Consolidated Financial Statements

================================================================================

Note 4 - Inventories

                                             December 31,      May 31,
                                                 2000           2000
                                              ---------       ---------

          Raw materials                       $ 540,557       $ 656,352
          Work-in-progress                       57,676          80,326
                                              ---------       ---------

                                              $ 598,233       $ 736,678
                                              =========       =========



Note 5 - Plant and Equipment, Net

                                            December 31,       May 31,
                                                2000            2000
                                            -----------     -----------

          Leasehold improvements            $   408,852     $   436,506
          Furniture and fixtures                227,021         228,630
          Machinery and moulds                5,662,862       4,665,243
          Transportation equipment               51,088          51,474
                                            -----------     -----------
                                              6,349,823       5,381,853

          Less:  Accumulated depreciation     3,122,008       2,505,918
                                            -----------     -----------

                                            $ 3,227,815     $ 2,875,935
                                            ===========     ===========

Note 6 - Short Term Borrowings - Bank

As of December 31, 2000, the Company had banking facilities of $387,097. No
balance was outstanding as of December 31, 2000. Borrowings under this facility
bear interest at the prime rate plus 1/4% and are secured by the director's
personal guarantee and property. The agreement expires on July 21, 2001, but it
is management's expectation that the agreement will be renewed by the bank or
that a similar arrangement with another lender will be concluded.

                                     F-12
<PAGE>

                                Score One, Inc.

                  Notes to Consolidated Financial Statements

================================================================================

Note 7 - Income Taxes

Tax in the consolidated statements of operations represents:


                                                      Seven             Five
                                                   Months Ended     Months Ended
                                                   December 31,        May 31,
                                                       2000             2000
                                                    ---------         ---------

       Current year income tax - Hong Kong          $ 198,332         $ 129,582
       Deferred income tax - Hong Kong                 10,700            38,064
                                                    ---------         ---------

                                                    $ 209,032         $ 167,646
                                                    =========         =========


Deferred income taxes represent the tax effect on the excess of depreciation
allowances over related depreciation for financial statement purposes and the
general provision for doubtful debts.

At the balance sheet date, the major components of the provided deferred tax are
as follows:


                                                     Seven             Five
                                                 Months Ended      Months Ended
                                                 December 31,         May 31,
                                                     2000              2000
                                                   ----------        ----------
     Deferred tax assets
       Accounts receivable and inventory
        reserve                                    $   20,984        $   15,484
                                                   ----------        ----------

       Total deferred tax asset                        20,984            15,484
                                                   ----------        ----------

     Deferred tax liability
       Depreciation                                  (242,265)         (226,065)
                                                   ----------        ----------
       Total deferred tax liability                  (242,265)         (226,065)
                                                   ----------        ----------

     Net deferred tax liability                    $ (221,281)       $ (210,581)
                                                   ==========        ==========

A reconciliation from the statutory tax rate to the effective tax rate is
presented below:

                                                      Seven             Five
                                                   Months Ended     Months Ended
                                                   December 31,        May 31,
                                                       2000             2000
                                                   ----------        ----------

     Hong Kong statutory tax rate                          16%               16%
     50% reduction for manufacturing
      operations in PRC                                    (8)               (8)
                                                   ----------        -----------

     Effective tax rate                                     8%                8%
                                                   ==========        ==========

                                      F-13
<PAGE>

                                Score One, Inc.

                  Notes to Consolidated Financial Statements

================================================================================

Note 7 - Income Taxes (Continued)

All of the Company's manufacturing operations are located in Dongguan, PRC and
are conducted by the subsidiary Dongguan Fortune.  Under the Hong Kong tax
authority's Departmental Interpretation and Practice Notes, a company based in
Hong Kong, but with substantially all of its manufacturing operations located in
the PRC can enjoy profit apportionment under which only 50% of its manufacturing
profit is subject to Hong Kong profits tax.  Therefore only 50% of the profits
of the Company are subject to Hong Kong profits tax. Such tax concession is
granted based on annual application by the Company.  The submission of profits
tax returns by the Company to the Hong Kong tax authority has not yet been made
and therefore the grant of the concession by the Hong Kong tax authority has not
yet been confirmed.


Note 8 - Commitments and Contingencies

Lease Commitments
-----------------

On August 1, 2000, the Company entered into a rental agreement for five years
with Grand Link International Limited of which Mr. Ho Wing Cheong, director and
stockholder of the Company, is a stockholder and director.  The Company leased
general and administrative facilities under this operating lease.  Rent expense
charged to operations amounted to $16,397 for the seven months ended December
31, 2000 and $1,757 for the five months ended May 31, 2000.

As of December 31, 2000, the Company had commitments under a noncancelable
operating lease expiring in excess of one year amounting to $177,421.  Rental
payments for each of the succeeding periods are:

          January 1, 2001 to December 31, 2001          $ 38,710
          January 1, 2002 to December 31, 2002            38,710
          January 1, 2003 to December 31, 2003            38,710
          January 1, 2004 to December 31, 2004            38,710
          January 1, 2005 to December 31, 2005            22,581
                                                        --------

                                                        $177,421
                                                        ========

Note 9 - Related Party Transactions

Sales to a stockholder, Yue Fung Development Limited (YFD), during the seven-
month period ended December 31, 2000 were $397,143, which represents 3.2% of
total sales for the period. During the five-month period ended May 31, 2000
sales to YFD were $351,244 which represents 4.4% of total sales for the period.

                                      F-14
<PAGE>

                                Score One, Inc.

                  Notes to Consolidated Financial Statements

================================================================================

Note 9 - Related Party Transactions (Continued)

As of December 31, 2000 and May 31, 1999, balances with directors and
stockholders consist of the following:

                                                 December 31,
                                                    2000          May 31, 2000
                                                 ---------------- ------------

     Amount payable to director and stockholder:
       Mr. Ho Wing Cheong                        $   102,281      $          -
                                                 ===========      ============

The amounts due to directors and stockholders are unsecured, interest-free and
have no fixed terms of repayment.


Note 10 - Concentration of Customers

For the five months ended May 31, 2000, sales to four major customers amounted
to more than 10% of total sales.  The amount of revenue from these customers was
$1,911,109, $1,839,413, $1,323,486 and $1,054,457.  There were no receivable
balances for these customers as of May 31, 2000.


Note 11 - Prior Period Adjustment

During the seven months period ended December 31, 2000, the Company discovered
certain errors in its 1999 and five months ended May 31, 2000 financial
statements, related to fixed assets, dividends and other items.  The adjustments
consist of the following:

Year ended December 31, 1999:

          Fixed assets-cost                          $1,209,949
          Accumulated depreciation                   (1,576,960)
          Depreciation expense                          367,011
          Income tax expense                             93,128
          Cost of sales                                 (99,630)
          Accounts payable                               98,065
          Other payables and accrued expenses           (16,514)
          Income taxes payable                         (316,354)
          Dividends paid                                241,305
                                                      ---------
                                                     $        -
                                                      =========

Five months ended May 31, 2000:

          Depreciation expense                       $   85,363
          Accumulated depreciation                      (85,363)
          Income tax expense                              4,420
          Cost of sales                                 (55,449)
          Accounts payable                               46,722
          Other payables and accrued expenses             8,727
          Income taxes payable                           (4,420)
                                                      ---------
                                                     $        -
                                                      =========

                                      F-15
<PAGE>

                                Score One, Inc.

                  Notes to Consolidated Financial Statements

================================================================================

Note 12 - Subsequent Event

Subsequent to the balance sheet date, the group executed a letter of intent
dated January 2001 to acquire a manufacturing entity located in Jiangyin, the
People's Republic of China.  A deposit of $3,380,645 was made related to this
investment as of December 31, 2000.


Note 13 - Reclassification

For comparability, the five months ended May 31, 2000 consolidated financial
statements reflect reclassifications where appropriate to conform to the
financial statement presentation used in the seven months ended December 31,
2000.

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