<PAGE>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

     [X]  QUARTERLY  REPORT  PURSUANT  TO SECTION 13 OR 15(d) OF THE  SECURITIES
          EXCHANGE ACT OF 1934

                  For the quarterly period ended: June 30, 2003

                                       OR

    [_]  TRANSITION  REPORT  PURSUANT  TO  SECTION  13 OR  15(d)  OF THE
         SECURITIES EXCHANGE ACT OF 1934

                        Commission file number: 000-9489


                               SWISS MEDICA, INC.
             (Exact name of registrant as specified in its charter)

              Delaware                        98-0355519
 (State or other jurisdiction of            (I.R.S. Employer
  Incorporation or organization)           Identification No.)


                          53 Yonge Street, Third Floor
                             Toronto, Canada M5E 1J3

                    (Address of principal executive offices)

                                  416-868-0202
               (Registrant's telephone number including area code)

                                Global Path Inc.
          5th Floor, 2 Toronto Street, Toronto, Ontario, Canada M5C 2B6
                          (Former name, former address
              and former fiscal year, if changed since last report)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act  during the  preceding  12 months (or for such
shorter  period that the  registrant  was required to file such reports) and (2)
has been subject to such filing requirements for the past 90 days YES [X] NO [_]

                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the  registrant  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 [ ]

                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest  practicable date: As of August 16, 2003 the issuer had
21,352,425 shares of Common Stock, par value $0.001, issued and outstanding.

Transitional Small Business Disclosure Format (Check one):    Yes [  ] No [X]


<PAGE>


                           FORWARD-LOOKING STATEMENTS

         This  report  by  Swiss   Medica,   Inc.   (the   "Company")   contains
forward-looking  statements.   These  are  statements  regarding  financial  and
operating  performance and results and other  statements that are not historical
facts.  The words  "expect,"  "project,"  "estimate,"  "believe,"  "anticipate,"
"intend," "plan,"  "forecast," and similar  expressions are intended to identify
forward-looking  statements.  Certain  important  risks could  cause  results to
differ  materially  from  those  anticipated  by  some  of  the  forward-looking
statements.  Some,  but not all, of the risks that could cause actual results to
differ from those suggested by the  forward-looking  statements  include,  among
other things:

o    the loss of the  services  of any  member of our  management  team and,  in
     particular,  the loss of the  services of Raghu  Kilambi,  our Chairman and
     Chief  Executive  Officer,  and  Grant  Johnson,  our  President  and Chief
     Operating Officer;

o    our  ability to  continue  to find and  acquire  bioscience  products  with
     demonstrated competitive advantages;

o    whether  or  not  our  products  are  able  to  compete  successfully  with
     bioscience  products of other  suppliers  and whether or not some or all of
     our  products  are rendered  obsolete by newer  products;

o    our ability to successfully market the products we acquire;

o    the  implementation  of any government  regulation  that could make it more
     difficult or more costly to bring our products to market;

o    our ability to obtain financing as and when we need it; and

other  factors,  all of which are  difficult  to  predict  and many of which are
beyond our control.

      You are  cautioned  not to place undue  reliance on these  forward-looking
statements,  which relate only to events as of the date on which the  statements
are made. We undertake no obligation  to publicly  revise these  forward-looking
statements to reflect events or circumstances  that arise after the date hereof.
You should refer to and carefully  review the information in future documents we
file with the Securities and Exchange Commission.




<PAGE>

                               SWISS MEDICA, INC.
                           (Formerly Global Path Inc.)

                                Table of Contents

PART I.  FINANCIAL INFORMATION

         Item 1.  Financial Statements

                  Condensed Balance Sheet:                                     1
                           June 30, 2003

                  Condensed Statements of Losses:                              2
                           Three Months Ended June 30, 2003 and 2002
                  Six Months Ended June 30, 2003 and 2002

                           Condensed Statements of Cash Flows:                 3
                           Six Months Ended June 30, 2003 and 2002

                       Notes to Condensed Financial Statements:                4
                  June 30, 2003

       Item 2.  Plan of Operation                                              7

       Item 3.  Controls and Procedures                                        7


PART II.  OTHER INFORMATION

         Item 1.  Legal Proceedings                                            9

         Item 2.  Changes in Securities                                        9

         Item 3.  Defaults Upon Senior Securities                              9

         Item 4.  Submission of Matters to a Vote of Security Holders          9

         Item 5.  Other Information                                           10

         Item 6.  Exhibits and Reports on Form 8-K                            10




<PAGE>
<TABLE>
<CAPTION>
Item 1.  Financial Statements
                                        SWISS MEDICA, INC.
                                   (FORMERLY GLOBAL PATH, INC.)
                                      CONDENSED BALANCE SHEET
                                            (Unaudited)
                                                                                     June 30, 2003
                                                                                   ------------------
<S>                                                                                     <C>

 ASSETS
 CURRENT ASSETS:
 Cash and cash equivalents                                                          $       108,497
Loan Receivable                                                                              30,000


 Total current assets                                                                       138,497

 PROPERTY AND EQUIPMENT (Note B):

 Furniture and equipment, at cost                                                            48,751

 Less: accumulated depreciation                                                             (5,456)
                                                                                   ------------------

                                                                                             43,295

 OTHER ASSETS (Note B):

 Patents                                                                                    563,250

 Trademarks                                                                                  45,000

 Royalty and licenses                                                                         7,500

 Copyrights                                                                                   1,500

 Customer lists                                                                              30,000

 Non-compete agreements                                                                     112,500
                                                                                   ------------------

                                                                                            759,750

 Less: accumulated amortization                                                             (23,213)
                                                                                   ------------------

                                                                                            736,537

                                                                                   $        918,329
                                                                                    =================
 LIABILITIES AND STOCKHOLDERS' EQUITY
 CURRENT LIABILITIES:
 Accounts payable and accrued expenses                                              $       146,341

 Other advances                                                                              12,500
                                                                                   ------------------

 Total current liabilities                                                                  158,841


 COMMITMENTS AND CONTINGENCIES                                                                    -

 STOCKHOLDERS' EQUITY
 Preferred stock, par value $.001 per share; 10,000,000 shares
authorized; none issued at June 30, 2003                                                          -
 Class A Common stock, par value $.001 per share; 100,000,000 shares
authorized; 20,331,425 shares issued and outstanding at June 30, 2003                        21,332
 Class B Common stock, par value $.001 per share; 50,000,000 shares
authorized; 2,000,000 shares issued and outstanding at June 30, 2003                          2,000

 Additional paid-in-capital                                                              15,871,483

Accumulated deficit                                                                    (15,135,327)
                                                                                   ------------------

 Total stockholders' equity                                                                759,488
                                                                                   ------------------
                                                                                   $       918,329
                                                                                   ==================

  See accompanying footnotes to the unaudited condensed financial information
</TABLE>
                                        1
<PAGE>

<TABLE>
<CAPTION>



                                               SWISS MEDICA, INC.
                                          (FORMERLY GLOBAL PATH, INC.)
                                         CONDENSED STATEMENTS OF LOSSES
                                                  (Unaudited)

                                                   Three Months Ended June 30,      Six Months Ended June 30,
                                                       2003           2002            2003             2002
                                                       ----           ----            ----             ----
<S>                                                       <C>           <C>            <C>               <C>

Costs and Expenses:
Research and Development                            $  3,724,125       $      -     $  3,724,125        $      -

Selling, General and Administrative                    4,674,334        495,895        6,233,549       1,132,315

Amortization and Depreciation                             28,669              -           28,669               -
                                                   --------------- ---------------- ----------------- ------------
Total Operating Expense                                8,427,128        495,895        9,986,343       1,132,315


Loss from Operations                                  (8,427,128)      (495,895)      (9,986,343)     (1,132,315)


Other Income                                                   -          3,203                -           3,559

Interest (Expense)                                             -         (7,790)               -          (9,143)

Provision for Income Tax                                       -              -                -               -
                                                   --------------- ---------------- ----------------- ------------

Net Loss                                           $  (8,427,128)   $  (500,482)    $ (9,986,343)   $ (1,137,899)

Loss per common share (basic and assuming
dilution)                                                 ($0.65)        ($0.02)          ($1.15)         ($0.05)

Weighted average common shares outstanding            12,865,803     21,935,872        8,669,928      21,290,221



                              See accompanying footnotes to the unaudited condensed financial information
</TABLE>
                                        2
<PAGE>

<TABLE>
<CAPTION>


                                            SWISS MEDICA, INC.
                                       (FORMERLY GLOBAL PATH, INC.)
                                    CONDENSED STATEMENTS OF CASH FLOWS
                                               (Unaudited)
                                                                      For the six months ended June 30,
                                                                           2003                2002
                                                                           ----                ----
<S>     <C>                                                                  <C>                  <C>

CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss from development stage operations                              $   (9,986,343)      $  (1,137,899)
Adjustments to reconcile net loss from development stage
operations to cash used for operating activities:

Common stock issued in exchange for services rendered                        6,108,993             776,686

Common stock issued in exchange for expenses paid by shareholders               23,731                   -
Common stock issued in exchange for acquired  research and
development costs                                                            3,724,125                   -

Depreciation and amortization                                                   28,669                   -
Changes in assets and liabilities:                                                                       -

Prepaid expenses and deposits                                                   15,791                  40

Cash disbursed in excess of available fund                                           -              (4,914)

Accounts payable and accrued expenses                                         (61,056)              62,017
                                                                      ---------------------  ----------------

NET CASH (USED IN) OPERATING ACTIVITIES                                      (146,090)            (304,070)

CASH FLOWS FROM INVESTING ACTIVITIES:

Issuance of loan receivable                                                   (30,000)            (200,000)
                                                                      ---------------------  ----------------


NET CASH (USED IN) INVESTING ACTIVITIES                                       (30,000)            (200,000)

CASH FLOWS FROM FINANCING ACTIVITIES:

Other advances                                                                  12,500                   -

Proceeds from sale of common stock, net of costs                               253,031                   -

Proceeds from (repayments to) related parties advances, net                     18,958             521,522
                                                                      ---------------------  ----------------


NET CASH PROVIDED BY FINANCING ACTIVITIES                                      284,489             521,522


NET INCREASE IN CASH AND EQUIVALENTS                                           108,399              17,452

Cash and cash equivalents at the beginning of the period                            98                   -
                                                                      ---------------------  ----------------


Cash and cash equivalents at the end of the period                             108,497              17,452

Supplemental Disclosures of Cash Flow Information
Cash paid during the period for interest                                  $          -         $         -
Income taxes paid                                                         $          -         $         -
Common stock issued for services                                          $  6,108,993         $   776,686
Common stock issued in exchange for debt                                  $    766,796         $         -
Common stock issued in exchange for research and development costs        $  3,724,125         $         -
Common stock issued in exchange for expenses paid by shareholders         $     23,731         $         -
Common stock issued in exchange for office equipment                      $     48,751         $         -
Common stock issued in exchange for intangible assets                     $    759,750         $         -


  See accompanying footnotes to the unaudited condensed financial information

</TABLE>
                                        3
<PAGE>

                                 SWISS MEDICA, INC.
                       (FORMERLY GLOBAL PATH INCORPORATED)
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                  JUNE 30, 2003
                                   (UNAUDITED)

NOTE A - SUMMARY OF ACCOUNTING POLICIES

General

The accompanying unaudited condensed financial statements have been prepared in
accordance with accounting principles generally accepted in the United States of
America for interim financial information and with the instructions to Form
10-QSB. Accordingly, they do not include all of the information and footnotes
required by generally accepted accounting principles for complete financial
statements.

In the opinion of management, all adjustments (consisting of normal recurring
accruals) considered necessary for a fair presentation have been included. The
results from developmental stage operations for the six month period ended June
30, 2003 are not necessarily indicative of the results that may be expected for
the year ended December 31, 2003. The unaudited financial statements should be
read in conjunction with the consolidated December 31, 2002 financial statements
and footnotes thereto included in the Company's SEC Form 10-KSB.

Business and Basis of Presentation

Swiss Medica,  Inc.,  formerly  Global Path  Incorporated  (the  "Company")  was
reincorporated  under the laws of the State of Delaware in September  2001.  The
Company is currently a Bioscience distribution Company.

Reclassification

Certain reclassifications have been made to conform to prior periods' data to
the current presentation. These reclassifications had no effect on reported
losses.

Stock Based Compensation

In December 2002, the FASB issued SFAS No. 148, "Accounting for Stock-Based
Compensation-Transition and Disclosure-an amendment of SFAS 123." This statement
amends SFAS No. 123, "Accounting for Stock-Based Compensation," to provide
alternative methods of transition for a voluntary change to the fair value based
method of accounting for stock-based employee compensation. In addition, this
statement amends the disclosure requirements of SFAS No. 123 to require
prominent disclosures in both annual and interim financial statements about the
method of accounting for stock-based employee compensation and the effect of the
method used on reported results. The Company has chosen to continue to account
for stock-based compensation using the intrinsic value method prescribed in APB
Opinion No. 25 and related interpretations. Accordingly, compensation expense
for stock options is measured as the excess, if any, of the fair market value of
the Company's stock at the date of the grant over the exercise price of the
related option. The Company has adopted the annual disclosure provisions of SFAS
No. 148 in its financial reports for the year ended December 31, 2002 and for
the quarter ended June 30, 2003. The Company has no stock based awards of
compensation issued and outstanding as of June 30, 2003.




                                        4
<PAGE>

                              SWISS MEDICA, INC.
                       (FORMERLY GLOBAL PATH INCORPORATED)
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                  JUNE 30, 2003
                                   (UNAUDITED)

NOTE A - SUMMARY OF ACCOUNTING POLICIES (Continued)

New Accounting Pronouncements

In April 2003, the FASB issued Statement of Financial Accounting Standards
(SFAS) No. 149, AMENDMENT OF STATEMENT 133 ON DERIVATIVE INSTRUMENTS AND HEDGING
ACTIVITIES. SFAS 149 amends SFAS No. 133 to provide clarification on the
financial accounting and reporting of derivative instruments and hedging
activities and requires that contracts with similar characteristics be accounted
for on a comparable basis. The provisions of SFAS 149 are effective for
contracts entered into or modified after June 30, 2003, and for hedging
relationships designated after June 30, 2003. The adoption of SFAS 149 will not
have a material impact on the Company's results of operations or financial
position.

In May 2003, the FASB issued SFAS No. 150, ACCOUNTING FOR CERTAIN FINANCIAL
INSTRUMENTS WITH CHARACTERISTICS OF BOTH LIABILITIES AND EQUITY. SFAS 150
establishes standards on the classification and measurement of certain financial
instruments with characteristics of both liabilities and equity. The provisions
of SFAS 150 are effective for financial instruments entered into or modified
after May 31, 2003 and to all other instruments that exist as of the beginning
of the first interim financial reporting period beginning after June 15, 2003.
The adoption of SFAS 150 will not have a material impact on the Company's
results of operations or financial position.

NOTE B- ACQUISITIONS

On May 20, 2003 the Company acquired nine patented bioscience products and
related intangible assets from General Cosmetics Corporation.

In consideration for the acquisition of the intangible assets, the Company
issued a total of 6,750,000 shares of restricted common stock. The stock that
was issued in this transaction was valued at 85 percent of its average closing
price ten days prior to and after May 21, 2003. In accordance with Accounting
Principles Board No. 29, Accounting for Non Monetary Transactions, the cost of
the intangible assets acquired is the fair value of the Company's common stock
issued of $4,532,625.

The cost to acquire the intangible assets has been preliminarily allocated to
the assets acquired according to estimated fair values and is subject to
adjustment when additional information concerning asset valuations are
finalized.

In connection with the acquisition of the intangible assets, the Company
acquired $3,724,125 of research and development assets which were written off
during the period ended June 30, 2003 and are included in the accompanying state
of losses as research and development expenditures.

The Company has adopted SFAS No. 142, Goodwill and Other Intangible Assets,
whereby the Company periodically test its intangible assets for impairment. On
an annual basis, and when there is reason to suspect that their values have been
diminished or impaired, these assets will be tested for impairment, and
write-downs to be included in results from operations may be necessary.

                                        5
<PAGE>

                               SWISS MEDICA, INC.
                       (FORMERLY GLOBAL PATH INCORPORATED)
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                  JUNE 30, 2003
                                   (UNAUDITED)

NOTE B- ACQUISITIONS (Continued)

The intangible assets acquired are:
<TABLE>
<CAPTION>

                                      Gross                                                Weighted Average
                                    Carrying     Accumulated                  Residual       Amortization
                                     Amount     Amortization       Net         Value        Period (Years)
                                     ------     ------------       ---         -----        --------------
<S>                                     <C>           <C>          <C>            <C>           <C>

Amortizable Intangible Assets:
Patents                               $563,250      $(14,081)     $549,169        $    -                 5.0
Customer Mailing Lists                  30,000          (750)       29,250             -                 5.0
Trademarks                              45,000        (1,125)       43,875             -                 5.0
Non-compete agreements                 112,500        (7,031)      105,469             -                 2.0
Other                                                                8,774                               5.0
                                   -----------  ------------     ---------  ---------------              ---
                                         9,000          (226)                          -
                                   -----------  ------------     ---------  ---------------              ---

Total                                $ 759,750      $(23,213)    $ 736,537        $    -                 4.6
                                     =========      =========    =========        ======                 ===

Total amortization expense charged to operations for the six months ended June
30, 2003 was $23,213.

Estimated amortization expense for the years ended December 31:

       2003                             $ 116,042
       2004                               185,700
       2005                               150,544
       2006                               129,450
       2007                               129,450
       2008                                48,564
                                        ----------
       Total                            $ 759,750
                                        =========




</TABLE>

                                        6
<PAGE>



PART 1 - ITEM 2 PLAN OF OPERATION

      The following  discussion and analysis is qualified by, and should be read
in conjunction  with, our unaudited  interim  condensed  consolidated  financial
statements and the notes thereto  included in Item 1 of this Quarterly Report on
Form 10-Q.

         Prior to May 16, 2003 we were a holding  company  focused on acquiring,
expanding and developing companies and we had no operations.

         As of May 16, 2003 we began to implement a new business  plan  pursuant
to which we will market and distribute  bioscience  and herbal health  products.
Bioscience  products are natural compounds that have health  promoting,  disease
preventing  or  medicinal  properties.  We  believe  that  consumers  are deeply
concerned  about the management and cost of their health care and the expensive,
high-tech, disease-treatment approach predominant in modern medicine. We believe
that this concern  will  increase the demand for  bioscience  and herbal  health
products  because natural  products are considered to be effective  against many
ailments  and are more  accessible  than  prescription  medications.  The global
market for herbal markets is currently estimated to be $62 billion and the World
Health  Organization  has estimated  that the global market for herbal  products
will be worth $5 trillion dollars by the year 2050.

      On  May  16,  2003  we  acquired  certain  assets  of  General   Cosmetics
Corporation,  a Delaware  corporation based in Munich,  Germany. The acquisition
was made by issuing to General  Cosmetics  Corporation  6,750,000  shares of our
restricted  Common Stock,  subject to adjustment based on the terms of the March
31, 2003  definitive  agreement.  The assets we acquired  included nine patented
bioscience  products that have been developed for pain  management,  pain relief
and other ailments. All of these products comply with FDA regulations and can be
sold in the United States.  We are introducing these products to the market over
time. We are currently marketing the strongest of the pain relief  formulations.
We have not yet determined when the remaining products will be introduced.

      In June 2003 we entered into a transaction with Doctor's Natural Solutions
Inc.,  based  in  Clearwater,  Florida,  for  the  purpose of acquiring Ayala, a
bioscience  product  that  may have the potential to be used to assist in weight
loss.  As  part  of  this  transaction, we provided a secured loan of $30,000 to
Doctor's Natural Solutions Inc. to continue clinical testing of Ayala. This loan
is due to be repaid to us in September 2003. Due to the emergence of issues that
were  not  contemplated in our original negotiations, we have decided that it is
not  in  our  best  interests  to  continue  with  this  transaction.

         We will  continue  to look for  quality  bioscience  and herbal  health
products  to add to those we  already  offer.  We plan to sell our  products  by
direct sales, using infomercials,  over the Internet and through retail outlets,
such as pharmacies.

         We  currently  have 7  individuals  who render  services  to us for our
day-to-day operations.

         We do not anticipate incurring  material research and development costs
during  the  next 12 months, nor do we anticipate the acquisition or sale of any
material  property,  plant  or  equipment  during  the  next 12 months, with the
exception  of the possible acquisition of additional bioscience or herbal health
products.

         Thus far, we have  funded our  operations  through  sales of our Common
Stock. In order to support our operations through the next six months, we intend
to raise a total of approximately $500,000 through sales of our Common Stock. To
date, we have raised $350,000 of this amount.  If sales of our products will not
support  our  operations  by the end of this  period,  we will  attempt to raise
capital through additional sales of our securities,  or through loans. We cannot
assure you that we will be successful in obtaining  additional financing when we
need it. If we cannot secure  adequate  financing when and as we need it, we may
be required to cease operations.

     As  of  June  30, 2003 we had no revenue. As a result of increased business
activity and the pursuit of our initial acquisition, we incurred costs. This has
resulted  in increased operational expenses. We had a working capital deficit of
$20,344  as of June 30, 2003. As a result of our operating losses during the six
month  period  ended June 30, 2003, we generated cash flow deficits of $ 146,090
from  operating  activities.

     In  May  2003  we  acquired  nine  patented bioscience products and related
intangible  assets  from  General  Cosmetics  Corporation.

                                        7
<PAGE>
     In  consideration for the acquisition of these intangible assets, we issued
a  total  of  6,750,000  shares  of  restricted Common Stock. The stock that was
issued in this transaction was valued at 85 percent of its average closing price
ten  days  prior  to  and  after  May  21,  2003.  In accordance with Accounting
Principles  Board  No. 29, Accounting for Non Monetary Transactions, the cost of
the  intangible  assets acquired is the fair value of the Company's common stock
issued  of  $4,532,625.

     The  cost to acquire the intangible assets has been preliminarily allocated
to  the  assets  acquired  according  to estimated fair values and is subject to
adjustment when additional information concerning asset valuations is finalized.

     In  connection  with  the acquisition of the intangible assets, we acquired
$3,724,125  of research and development assets which were written off during the
period  ended  June  30,  2003 and are included in the accompanying statement of
losses  as  research  and  development  expenditures.

     We  adopted  SFAS No. 142, Goodwill and Other Intangible Assets, whereby we
periodically  test our intangible assets for impairment. On an annual basis, and
when  there  is  reason  to  suspect  that  their values have been diminished or
impaired,  these  assets  will  be  tested for impairment, and write-downs to be
included  in  results  from  operations  may  be  necessary.

     Our  failure  to  secure  requisite  financing when needed and on favorable
terms  in  the  future  may  have  a  material  adverse effect on our results of
operations.  We  have  borrowed  funds  from  principal  shareholders to satisfy
certain  obligations.

     While  we  have  raised  capital  to meet our working capital and financing
needs in the past, additional financing is required in order to meet our current
and projected cash flow deficits from operations and development. We are seeking
financing  in  the  form  of  equity  in  order to provide the necessary working
capital.  We  currently have no commitments for financing. There is no guarantee
that  we  will  be  successful  in  raising  the  funds  required.

     By adjusting our operations and development to the level of capitalization,
we believe that we have sufficient capital resources to meet projected cash flow
deficits  through  the  next  twelve  months.  However, if thereafter we are not
successful  in  generating  sufficient  liquidity  from operations or in raising
sufficient  capital  resources  on  terms  acceptable  to  us, this could have a
material  adverse  effect  on our business, results of operations, liquidity and
financial  condition.

     The  effect  of  inflation  on  our  revenue  and operating results was not
significant.  Our  operations  are  located  in  North  America and there are no
seasonal aspects that would have a material effect on our financial condition or
results  of  operations.


         During the period  ended June 30, 2003 we earned no  revenues  from our
operations.  Our independent  certified public  accountants have stated in their
report,  which is included  with our audited  financial  statements  in the Form
10-KSB for the period ended December 31, 2002,  that we have incurred  operating
losses in the last two years and that we are dependent on  management's  ability
to  develop  profitable  operations.  These  factors,  among  others,  may raise
substantial doubt about our ability to continue as a going concern.


PART 1 - ITEM 3. DISCLOSURE CONTROLS AND PROCEDURES

         The Company  carried out an evaluation,  under the supervision and with
the  participation  of the Company's  management,  including the Company's Chief
Executive  Officer (who is also the Company's  Chief  Financial  Officer) of the
effectiveness of the design and operation of the Company's  disclosure  controls
and  procedures  as of  the  end of the  period  covered  by  this  report.  The
evaluation  was  undertaken  in  consultation  with  the  Company's   accounting
personnel. Based on that evaluation, the Chief Executive Officer/Chief Financial
Officer  concluded  that the Company's  disclosure  controls and  procedures are
effective to ensure that information  required to be disclosed by the Company in
the reports that it files or submits under the  Securities  Exchange Act of 1934
is  recorded,  processed,  summarized  and  reported  within  the  time  periods
specified in the Securities and Exchange Commission's rules and forms.

         There were no significant changes in the Company's internal controls or
in other factors that could significantly affect internal controls subsequent to
the date of their evaluation.

                                        8
<PAGE>
PART II

          ITEM 1.   LEGAL PROCEEDINGS

          In June 2003 we were  served  with a  Statement  of Claim filed in the
Ontario  Superior  Court of  Justice,  court file number  03-CV-250052CM  titled
GLEISS  LUTZ  HOOTZ  HIRSCH   PARTNERSCHAFTSGESELLSCHAFT   VON   RECHTSANWALTEN,
STEUERBERATERN VS. GLOBAL PATH INCORPORATED.  The plaintiff, a law firm, alleges
that we retained  its  services in March 2002 and failed to pay for the services
that were rendered. The  plaintiff is seeking  Canadian  currency  sufficient to
purchase   24,496.41  euro   (approximately   US  $27,000),   pre-judgment   and
post-judgment interest and costs. We filed a Statement of Defense in July 2003.

          ITEM 2.  CHANGES IN SECURITIES

          On March 31, 2003 we entered  into an  Agreement  of Purchase and Sale
with  General  Cosmetics  Corporation  whereby we agreed to issue  shares of our
restricted  common  stock in  exchange for certain  assets belonging to  General
Cosmetics  Corporation.  This  transaction  closed  on May 16,  2003 and we have
issued to General Cosmetics  Corporation,  6,750,000 shares of our common stock,
subject to adjustment  pursuant to the terms of the March 31, 2003  Agreement of
Purchase and Sale.  The  transaction  was exempt from  registration  pursuant to
Section 4(2) of the Securities Act of 1933.

In June 2003 we agreed to issue 1,012,124 shares of our restricted  Common Stock
to five  investors in exchange for a total  investment  of $253,031 or $0.25 per
share. The transaction was exempt from registration  pursuant to Regulation S of
the Securities Act of 1933,  inasmuch as the offer and sales occurred outside of
the United States.

During  the  quarter  ended  June 30,  2003 we  issued  5,550,001  shares of our
restricted Common Stock to various  individuals and corporations in exchange for
management services, consulting services and services rendered by members of our
Board of Directors.  The total value of the services we received was $2,204,000.
These transactions were exempt from registration pursuant to Section 4(2) of the
Securities Act of 1933.

          ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

          Not Applicable

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

          On May 20,  2003 a  majority  of our  shareholders  and our  Board  of
Directors  approved an amendment to our Certificate of  Incorporation  to change
our name from  Global  Path Inc.  to Swiss  Medica,  Inc.  The vote was taken by
written consent.


                                        9

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ITEM 5.  OTHER INFORMATION

          Not Applicable

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a)       Exhibits

     2.1  Agreement  for Purchase and Sale of Stock between  Goldcrown  Holdings
          Ltd. and Oxford Capital Group dated as of January 10, 2000 (1)

     2.2  Agreement for Purchase and Sale of Stock between Bodet Ltd. and Oxford
          Capital Group dated as of January 10, 2000 (1)

     2.3  Agreement  and Plan of Merger of  Yournet,  Inc.  with and into Global
          Path Incorporated dated June 25, 2001 (2)

     3.1  Articles of Incorporation, as amended (3)

     3.2  Bylaws (3)

     10.1 Agreement of Purchase and Sale among Global Path  Incorporated,  Swiss
          Medica,  Inc.  (Purchaser),  General  Cosmetics  Corporation  (Selling
          Corporation) and the Founding Shareholder of Selling Corporation dated
          March 31, 2003 (4)

     31.  Certification Pursuant to Rule 13a-14(a) and 15d-14(a)(4)

     32.  Certification  Pursuant  to  Section  1350 of Title  18 of the  United
          States Code (4)

          (1)  Incorporated by reference from a Form 8-K filed with the
               Securities and Exchange Commission on March 28, 2000.

          (2)  Incorporated by reference from a Definitive Information Statement
               filed with the Securities and Exchange Commission on
               July 6, 2001.

          (3)  Previously filed.

          (4)  Filed herewith.

(b) Reports on Form 8-K

         On May 19,  2003  the  registrant  filed a form  8-K  stating  that the
         agreement  it  had  entered  into  on  September   24,  2002  with  the
         shareholders of ipsh!net, Inc. was terminated.

         On May 19, 2003 the registrant filed a form 8-K stating that the letter
         of intent  it had  entered  into on  December  11,  2002 with Range
         Engineering Limited was terminated.

         On July 3, 2003 the registrant  filed a form 8-K stating that Robert J.
         Kubbernus  had resigned as a member of the Board of Directors and as an
         officer. The 8-K also stated that (i) on May 21, 2003 Reghu Kilambi and
         Grant Johnson were appointed as new directors and officers; (ii) on May
         21, 2003, Karen Wylie was appointed Corporate  Secretary,  and (iii) on
         July 1, 2003, Greg Nuttall was appointed a director and officer.

                                       10


<PAGE>




                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

                                   SWISS MEDICA, INC.



                                  By:  RAGHU KILAMBI
                                       -----------------------------------------
Date:  August 19, 2003                   Raghu Kilambi, Chief Executive Officer
                                         and Chief Financial Officer








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