UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 10-KSB

(Mark One)

[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934 For the fiscal year ended December 31, 2003

[ ]  TRANSITION  REPORT  PURSUANT  TO  SECTION  13 OR 15 (d)  OF THE  SECURITIES
EXCHANGE ACT OF 1934 For the transition period from to .

                       Commission File Number: 33-11986-LA

                              CROWN PARTNERS, INC.

             (Exact name of Registrant as specified in its charter)

         Nevada                                         91-2008803
(State or other jurisdiction of                       (IRS Employer
 incorporation or organization)                      Identification Number)

             20700 Ventura Blvd. Suite 227, Woodland Hills CA 91364

               (Address of principal executive offices)(Zip Code)

Company's telephone number, including area code:  (818) 887-7201

Securities registered pursuant to Section 12(b) of the Act:  None.

Name of each exchange on which registered: None.

Securities registered pursuant to Section 12(g) of the Act:  None.

Check  whether  the Issuer  (1) has filed all  reports  required  to be filed by
Section 13 or 15(d) of the Exchange Act during the  preceding 12 months (or such
shorter period of 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

Check if there is no disclosure  of delinquent  filers to Item 405 of Regulation
S-B contained in this form, and if no disclosure will be contained,  to the best
of the Registrant's  knowledge,  in definitive  proxy or information  statements
incorporated by reference in Part III of this Form 10-K. [ ]

The number of shares  outstanding of the Company's $.001 Par Value Common Stock,
as of December 31, 2003 were  8,807,293.  The aggregate  number of shares of the
voting stock held by  non-affiliates  on May 17, 2004 was 5,916,775.  The market
value of these shares,  computed by reference to the market closing price on May
17, 2004 was $295,838.  For the purposes of the foregoing  calculation only, all
directors and executive officers of the registrant have been deemed affiliates.

                   DOCUMENTS INCORPORATED BY REFERENCE: None.


<PAGE>



PART I

ITEM 1.  BUSINESS

A) General

Crown Partners, Inc. (the "Company"), formerly known as "Stein's Holdings, Inc."
has been involved in several different  businesses.  In early 1999, its Board of
Directors  entered  into  negotiations  to acquire  Multi-Source  Capital,  Ltd.
("MSC"), a Colorado corporation.  As a condition to completing that acquisition,
the Company's  shareholders  approved a 200-to-1 reverse stock split and changed
the Company's name to "Stein's Holdings,  Inc." MSC was a company engaged in web
design,   through  a  wholly   owned   subsidiary,   20/20  Web  Design,   Inc.,
import/export,  business consulting and related services.  Also, MSC had entered
into an  agreement  with  College  Connection,  Inc.  dba Stein's  Bakery,  Inc.
("Bakery") in Lewisville,  Texas to acquire its bakery operations.  MSC assigned
that contract to the Company as part of its  acquisition.  MSC also  transferred
assets, consisting mostly of cash and securities, to the Company in exchange for
the issuance of 4,247,754 shares of the Company's stock to the MSC shareholders.

The Bakery filed for protection under the US Bankruptcy Code in 2000 and certain
monies that the Company and the Company's  subsidiary,  20/20 Web Design,  Inc.,
advanced to the Bakery were written off due to the bankruptcy.

B)       Narrative Description of Business

At the present time,  the Company is utilizing  its limited  capital to fund its
operations as it seeks business  opportunities.  In November,  2001, the Company
acquired Sanitec(TM) Services of Hawaii, Inc. ("SSH"), a privately held Hawaiian
corporation,  developed to engage in medical waste  collection  and treatment in
Honolulu, Hawaii. The Company issued 1,333,334 shares of its common stock to the
shareholder of SSH and SSH became a wholly owned subsidiary of the Company.  The
Company  borrowed  funds  and used  capital  it  raised on order to pay past and
present  obligations of SSH during the year ended December 31, 2003. The Company
anticipates  either borrowing money or raising  additional capital during fiscal
2004 to continue  to fund SSH's  operations.  In  February,  2003,  SSH began to
engage in limited  operations and has received  minimal  revenues to date. There
can be no assurances that the operations will result in material revenues to SSH
or that profitability will be achieved in the near term, if ever.

The  Company  has  two  additional  subsidiaries  of  which  it is the  majority
shareholder:  Micro  Bio-Medical  Waste  Systems,  Inc.  formerly known as 20/20
Networks,  Inc. ("Micro") and Universal  Services & Acquisitions,  Inc. ("USV"),
which it acquired in October, 2000.

The Company owns 80% of Micro,  a Nevada  corporation  traded on the  Electronic
Bulletin Board under "MBWS." In late 2003, the Company entered into an agreement
with Micro  whereby  Micro would  acquire  SSH from the Company in exchange  for
$550,000  and  the  issuance  of  fiver  percent  (5%)  of  Micro's  issued  and
outstanding shares. As of the date of this report, that transaction has not been
completed and the Company has not received any funds from Micro.

                                       2
<PAGE>

The Company owns 90% of the issued and outstanding  shares of Universal Services
& Acquisitions,  Inc., a Colorado  corporation.  USV is a dormant shell company.
USV entered into an agreement in September, 2001 with Universal Medical Alliance
("UMA"), a Nevada  corporation,  wherein the two companies were to merge and USV
changed its name to Universal Medical Alliance Corp. The shareholder of UMA paid
$60,000 of the fee of  $400,000  owed to the Company  but that  shareholder  has
requested the return of the $60,000 and cancellation of the merger agreement and
filed suit against the Company.  In March, 2004, the lawsuit was settled and USV
entered  into an  agreement  to acquire a  telecommunications  company  based in
Atlanta, Georgia.

In June,  2001, the Company borrowed $93,750 which loan was secured by shares of
Micro.  The  Company  was  unable  to pay the  loan  back  and the  shares  were
transferred  to the lender.  The lender filed suit  against the Company  seeking
repayment  of amounts its  alleges are still due it. In early 2004,  the Company
settled this lawsuit through the issuance of certain shares of restricted  stock
and the payment of money to the lender.

As of December 31, 2003,  the Company had no employees.  SSH had one employee as
of December 31, 2003.

Item 2. Properties.

The Company  currently has no office space.  When necessary,  the Company shares
office space with SSH at SSH's warehouse at no cost to the Company.  The Company
anticipates  that this space is sufficient  for the near future.  SSH sub-leases
warehouse  space in Hawaii at a rent of  approximately  $9,100 per month and the
sub-lease  expires in 2005 with an option to extend it for an  additional  seven
years.  The  Company  anticipates  that this  space is  sufficient  for the near
future.

Item 3. Legal Proceedings.

There are presently no legal proceedings pending against the Company.

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

None.

Item 5. Market for Registrant's Common Equity and Related Shareholder Matters.

The Company's common stock has been traded on the OTC Electronic  Bulletin Board
since Spring,  1996 under the symbol "TELM," since April, 1999, under the symbol
"SNHS" and since January,  2002,  under the symbol "CRWP".  The following  table
reflects the high and low quarterly bid prices for 2003.  This  information  was
provided to the Company by the National Association of Securities Dealers,  Inc.
(the "NASD") and the Internet.  These quotations  reflect  inter-dealer  prices,
without retail  mark-up or mark-down or  commissions.  These  quotations may not
necessarily reflect actual transactions.

                                       3
<PAGE>

<TABLE>
<CAPTION>

<S>                                      <C>                                     <C>
---------------------------------------- ------------------------------------- -------------------------------------

Period                                   High Bid                              Low Bid
---------------------------------------- ------------------------------------- -------------------------------------

1st Qtr 2003                             3.30                                  .30
---------------------------------------- ------------------------------------- -------------------------------------


2nd Qtr 2003                              .88                                  .20
---------------------------------------- ------------------------------------- -------------------------------------

3rd Qtr 2003                              .30                                  .20
---------------------------------------- ------------------------------------- -------------------------------------

4th Qtr 2003                              .25                                  .05
---------------------------------------- ------------------------------------- -------------------------------------
</TABLE>

As of December 31, 2003,  the Company had  8,807,293  shares of its common stock
issued and outstanding, of which 5,916,775 were held by non-affiliates.

The Company's  CUSIP number is 85847R108.  The Company has authorized a total of
50,000,000 shares of common stock, par value $.001. The Company has authorized a
total of 10,000,000  shares of preferred  stock,  par value $10.00 and presently
has no shares of preferred stock issued and outstanding.  The Company  estimates
that it has in excess of 300 beneficial shareholders as of May 17, 2004.

Item 6.  Management's Discussion and Analysis or Plan of Operation.

FORWARD-LOOKING STATEMENTS MAY NOT PROVE ACCURATE

When used in this Form 10-KSB, the words  "anticipated",  "estimate",  "expect",
and similar  expressions  are intended to identify  forward-looking  statements.
Such  statements are subject to certain  risks,  uncertainties  and  assumptions
including the  possibility  that the Company's  will fail to generate  projected
revenues.  Should one or more of these risks or  uncertainties  materialize,  or
should  underlying   assumptions  prove  incorrect,   actual  results  may  vary
materially from those anticipated, estimated or projected.

RESULTS OF OPERATIONS

In 1999, the Company began  operations  after two years of being  inactive.  The
Company  appointed new management after its acquisition of MSC and rented office
space.  In 1999, the Company lent $37,500 to the Bakery,  whose sole officer and
director was Randy Sutton, former President of the Company. The Bakery failed to
repay the loan when due in September, 2000 and subsequently filed bankruptcy. In
addition, the Company's subsidiary, 20/20 Net, lent $195,000 to Stein's Cake Box
("Cake  Box"),  a Nevada  corporation  which was  formed by 20/20 Net to acquire
certain contracts owned by the Bakery.  That loan has also not been paid and has
been written off. In early 2003,  the Company  through its  subsidiary SSH began
limited  operations  in Hawaii,  which are  continuing.  SSH has  received  some
revenues but continues to operate at a loss.

                                       4
<PAGE>

For the year ended  December 31,  2003,  the Company  realized a netloss  before
income taxes of ($863,128) on $34,171 in revenues and general and administrative
expenses of  approximately  $897,299.  For the year ended December 31, 2002, the
Company realized a net loss before income taxes of  approximately  ($304,138) on
no revenues and general and administrative  expenses of approximately  $304,138.
For the years ended  December 31, 2003 and 2002,  after  recording  the minority
interests in the losses of its subsidiaries of $90,653 and 2,813,  respectively,
the Company had a net loss of ($772,475)  and ($301,325)  respectively.  The net
loss per share for the years  ended  December  31,  2003 and 2002 was ($.10) and
($.04), respectively.

The expenses for the year ended December 31, 2003 consisted primarily of general
and administrative  expenses of approximately  $898,000.  The costs and expenses
for the year ended  December  31,  2002  totaled  approximately  $304,000  which
consisted of general and administrative  expenses of approximately  $284,000 and
interest expense of approximately $17,000.

At December 31, 2003,  shareholder's  (deficit) totaled  ($749,986)  compared to
shareholder's  deficit of  ($168,000)  at December  31, 2002.  This  increase in
shareholder's  deficit is due  primarily  to the  Company's  costs of  operating
itself and its subsidiaries.

LIQUIDITY AND CAPITAL RESOURCES

At December 31, 2003, the Company had negative  working capital of approximately
($740,000).  The Company's  assets for that period were  approximately  $45,000,
consisting of property and equipment of approximately  $45,000 and cash of $500.
The  Company's  current  liabilities  were  approximately  $796,000  which  were
comprised  of  accounts  payable of  approximately  $518,000,  notes  payable of
approximately  $81,000 and advances of approximately  $197,000.  At December 31,
2002, the Company had current assets of approximately $78,000 which consisted of
a note  receivable  from a related entity of  approximately  $59,000 and cash of
approximately  $19,000.  The current  liabilities of the Company at December 31,
2002 were  approximately  $634,000 which consisted of approximately  $257,000 in
trade accounts payable,  advances of approximately $313,000 and accounts payable
to a related entity of approximately $46,000.

Crown will  attempt  to  increase  its  operating  liquidity  by  exploring  the
availability  of outside  debt and  equity  financing,  to the extent  that such
funding is available under reasonable terms and conditions.

There can be no assurances  that these measures will result in an improvement in
Crown's  operations  or  liquidity.  To the extent that  Crown's  operations  or
liquidity do not improve,  Crown may be forced to reduce  operations  to a level
consistent with its available working capital resources.  Crown may also have to
consider a formal or informal restructuring or reorganization.

As a result of these factors,  Crown's  independent  accountants  have expressed
substantial  doubt about  Crown's  ability to continue as a going  concern.  The
accompanying  consolidated financial statements have been prepared assuming that
Crown will continue as a going concern,  which  contemplates  the realization of
assets and the satisfaction of liabilities in the normal course of business. The
carrying  amounts  of  assets  and  liabilities  presented  in the  consolidated
financial  statements do not purport to represent  the  realizable or settlement
values, and si nor include any adjustments that might result from the outcome of
this uncertainty.

                                       5
<PAGE>

MANAGEMENT'S  DISCUSSION  AND  ANALYSIS OF  FINANCIAL  CONDITION  AND RESULTS OF
OPERATIONS

New Accounting Pronouncements.

In August,  2001, the FASB issued SFAS No. 143, "Accounting for Asset Retirement
Obligations."  This  statement  addresses the diverse  accounting  practices for
obligations associated with the retirement of tangible long-lived assets and the
associated  asset  retirement  costs. The Company will be required to adopt this
statement effective January 1, 2003. The Company does not expect the adoption of
SFAS  No.  143  will  have  any  effect  on the  Company's  financial  statement
presentation or disclosure.

In July,  2002, the FASB issued SFAS No. 146,  "Accounting for Costs  Associated
with Exit or Disposal  Activities,"  which requires companies to recognize costs
associated  with exit or disposal  activities when they are incurred rather than
the date of a commitment to an exit or disposal plan.  Such costs covered by the
standard include lease  termination  costs and certain employee  severance costs
that are associated with a restructuring,  discontinued operation, plan closing,
or  other  exit or  disposal  activity.  SFAS  No.  146  replaces  the  previous
accounting  guidance  provided by the Emerging Issues Task Force Issue No. 94-3,
"Liability Recognition for Certain Employee Termination Benefits and Other Costs
to Exit an Activity (including Certain Costs Incurred in a Restructuring)." SFAS
No. 146 is to be applied  prospectively to exit or disposal activities initiated
after December 31, 2002.  The Company does not  anticipate  that the adoption of
SFAS  No.  146  will  have  an  effect  on  the  Company's  financial  statement
presentation or disclosures.

Due to the present and ongoing instability in the financial markets, the Company
experienced  substantial  losses in its trading  activities in prior years.  The
Company continues to seek a business  opportunity that will allow it to generate
revenues to fund its operations but has no suitable  candidates  under review at
the present time. The Company,  through its  subsidiary,  SSH,  believes that it
will begin  generating  revenues  during  2003,  albeit  small in amount and not
enough to fund and  support  its  Hawaiian  operations  in the short  term.  The
Company  will  continue  to borrow  funds as well as raise  capital  to fund its
Hawaiian operations.

The Company  will  continue to seek  suitable  merger  candidates  for its other
subsidiaries which should also result in revenues for the Company if mergers are
consummated.

The Company does not have adequate  working  capital for its current  operations
and will need additional working capital in 2004.

NEED FOR ADDITIONAL FINANCING

The Company  believes  that its existing  capital will not be sufficient to meet
the Company's cash needs,  including the costs of compliance with the continuing
reporting  requirements of the Securities Exchange Act of 1934, as amended,  for
itself and its  subsidiaries.  The Company is seeking to locate other  potential
acquisitions for its subsidiaries.

                                       6
<PAGE>

No commitments to provide additional funds have been made by management or other
stockholders.  Accordingly,  there can be no  assurance  that any funds  will be
available to the Company to allow it to cover its expenses.

The Company might seek to compensate providers of services by issuances of stock
in lieu of cash.

The Company's  balance sheet as of December 31, 2003 reflects limited assets and
limited liabilities.  Further, there exists no agreements or understandings with
regard  to loan  agreements  by or with  the  Officers,  Directors,  principals,
affiliates or shareholders of the Company.

Item 7.  Financial Statements.

Financial  statements  are audited and included  herein  beginning on Exhibit 1,
page 1 and are incorporated herein by this reference.

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

There  were no  disagreements  with  accountants  on  accounting  and  financial
disclosure during the relevant period.

Part III

Item 9. Directors, Executive Officers, Promoters and Control Persons; Compliance
with Section 16(a) of the Exchange Act.

Identification of Directors and Executive Officers of the Company

The following table sets forth the names and ages of all directors and executive
officers  of the  Company  and all  persons  nominated  or  chosen  to  become a
director,  indicating  all  positions  and offices with the Company held by each
such person and the period during which he has served as a director:

The principal executive officers and directors of the Company are as follows:
<TABLE>
<CAPTION>

<S>                                      <C>                       <C>
Name                                Position                  Term(s) of Office

Charles Smith              Director, CEO, CFO        May 15, 2000 to the present

Dr. Sadegh Salmassi                 Director         November, 2003 to the present

Steven Onoue                        Director         July, 2002 to the present

</TABLE>

                                       7
<PAGE>

Family  Relationships.  There are no  family  relationships  between  any of the
officers and directors.

Business Experience. The following is a brief account of the business experience
during at the least the last five years of the directors and executive officers,
indicating their principal  occupations and employment  during that period,  and
the  names  and  principal   businesses  of  the  organizations  in  which  such
occupations and employment were carried out.

CHARLES SMITH. Mr. Smith graduated from Boston University, Boston, Massachusetts
in 1979 and since that time has been a Certified Public  Accountant  involved in
all phases of business,  including the audit of companies and tax matters. He is
a consultant to various companies ranging from an art distribution  company to a
junior  resource  company which is developing a gold property in Sinaloa  State,
Mexico.  Mr. Smith has  significant  experience  in  accounting  and  securities
matters.

Mr. Smith's business affiliations during the last five years are as follow:

Chairman - Dynacap Group,  Ltd. - a consulting and management firm - 1992 to the
present; Sole proprietor as a Certified Public Accountant - 1983 to the present;
Sole officer and Director - MC Cambridge,  Inc. - a financial  consulting firm -
1997 to present;  Sole officer and director - Asset  Servicing  Corporation  - a
leasing  company - 1998 to  present;  Chief  Financial  Officer  and  Director -
Electrical Generation Technology Corporation - April 2000 to present.

Mr. Smith is presently CEO and CFO of Micro Bio-Medical  Waste Systems,  Inc., a
subsidiary  of the Company  which trades on the OTC  Electronic  Bulletin  Board
under the symbol  "MBWS." Mr.  Smith is also a director  of National  Healthcare
Technology, Inc., traded on the OTC Bulletin Board under the symbol "NHKT".

SADEGH SALMASSI, M.D. Dr. Salmassi is a physician in private practice in Delano,
California. Dr. Salmassi graduated from Pahlavi University School of Medicine in
1973 and came to the United States in 1975 to complete his residency training at
the University of Illinois in Chicago,  Illinois.  Dr. Salmassi began practicing
medicine in Illinois in 1978.  Dr.  Salmassi is Board  Certified by the American
Board of Pathology  in Anatomic  and  Clinical  Pathology as well as being Board
certified  by the  American  Board of General  Practice in General  Medicine and
Surgery.  Dr.  Salmassi is a Fellow in the College of American  Pathologists,  a
Fellow of the American College of  International  Physicians and a Fellow in the
American Academy of Family Physicians.

Dr.  Salmassi  is a  director  of  Micro  Bio-Medical  Waste  Systems,  Inc.,  a
subsidiary  of the  Company  and a  publicly  traded  company  traded on the OTC
Electronic  Bulletin  Board under  "MBWS."  Dr.  Salmassi is also an officer and
director of National  Healthcare  Technology,  Inc.,  traded on the OTC Bulletin
Board under the symbol "NHKT."

STEVEN  ONOUE.  Mr.  Onoue has been  employed as vice  president  and manager of
Sanitec(TM)  Services  of  Hawaii,  Inc.,  a  wholly-owned  subsidiary  of Crown
Partners, Inc., since 2000. Prior to that, Mr. Onoue was the president of Cathay
Atlantic  Trading Company in Honolulu,  Hawaii which traded in hard  commodities
and acted as consultant to many construction and renovation projects.  Mr. Onoue
acts as a community liaison and legislative  analyst to Rep. Suzuki of the State
of Hawaii. Mr. Onoue has been a registered securities  professional as well as a
being involved in real estate in Hawaii for more than 15 years.

                                       8
<PAGE>

Mr. Onoue is an officer and director of 20/20  Networks,  Inc., a subsidiary  of
the  Company,  and a director  of National  Healthcare  Technology,  Inc.,  both
companies publicly traded on the OTC Electronic Bulletin Board under the symbols
"TWNK" and "NHKT", respectively.

Identification of Certain Significant Employees. The Company does not employ any
persons  who  make or are  expected  to make  significant  contributions  to the
business of the Company.

CONFLICTS OF INTEREST

Most of the  Officers  and  Directors  of the  Company  will devote only a small
portion of their time to the  affairs of the  Company,  estimated  to be no more
than  approximately  5 hours per month.  Only Mr. Onoue works for the  Company's
subsidiary  on a  full-time  basis.  There  will  be  occasions  when  the  time
requirements of the Company's  business conflict with the demands of their other
business and investment activities.  Such conflicts may require that the Company
attempt to employ additional personnel.  There is no assurance that the services
of such  persons  will be  available  or that they can be  obtained  upon  terms
favorable to the Company.

There is no procedure  in place which would allow the Officers and  Directors to
resolve potential conflicts in an arms-length fashion. Accordingly, they will be
required to use their discretion to resolve them in a manner which they consider
appropriate.

The Company's Officers and Directors may actively negotiate or otherwise consent
to the  purchase of a portion of their  common  stock as a  condition  to, or in
connection with, a proposed merger or acquisition transaction. It is anticipated
that a  substantial  premium over the initial cost of such shares may be paid by
the purchaser in conjunction  with any sale of shares by the Company's  Officers
and Directors which is made as a condition to, or in connection with, a proposed
merger or acquisition  transaction.  The fact that a substantial  premium may be
paid to the Company's  Officers and Directors to acquire their shares  creates a
potential  conflict of interest for them in satisfying their fiduciary duties to
the Company and its other shareholders.  Even though such a sale could result in
a  substantial  profit  to them,  they  would be  legally  required  to make the
decision  based upon the best  interests of the Company and the Company's  other
shareholders, rather than their own personal pecuniary benefit.

Item 10. Executive Compensation.

During fiscal 2002, and as of the date of the filing of this report, none of the
Company's  officers were paid any  compensation by the Company except for Steven
Onoue.  Directors are entitled to reimbursement  for reasonable travel and other
out-of-pocket  expenses incurred in connection with attendance at meeting of the
Board of Directors.

                                       9
<PAGE>

The Company has no material bonus or profit-sharing plans pursuant to which cash
or  non-cash  compensation  is or may be  paid  to the  Company's  directors  or
executive officers.

The Company has no compensatory plan or arrangements,  including  payments to be
received from the Company,  with respect to any  executive  officer or director,
where such plan or arrangement  would result in any compensation or remuneration
being paid resulting from the resignation,  retirement or any other  termination
of  such  executive  officer's  employment  or from a  change-in-control  of the
Company or a change in such  executive  officer's  responsibilities  following a
change-in-control   and  the  amount,   including   all  periodic   payments  or
installments  where  the  value of such  compensation  or  remuneration  exceeds
$100,000 per executive officer.

During the last completed fiscal year, no funds were set aside or accrued by the
Company to provide  pension,  retirement  or similar  benefits for  Directors or
Executive Officers.

The Company has no written employment agreements.

The Company's  subsidiary,  SSH, has one employee,  Steven Onoue, who is also an
officer and director of the Company.  The Company  employs Mr. Onoue at a salary
of $3,500 per month. Mr. Onoue received his monthly salary twice in 2002 and the
Company has recorded his accrued  compensation  as a liability on the  Company's
financial statements.  In 2001, Mr. Onoue converted past due salary to shares of
the Company's common stock.

Termination  of Employment  and Change of Control  Arrangement.  Except as noted
herein, the Company has no compensatory plan or arrangements, including payments
to be received from the Company, with respect to any individual names above from
the latest or next preceding fiscal year, if such plan or arrangement results or
will result from the  resignation,  retirement or any other  termination of such
individual's  employment  with the  Company,  or from a change in control of the
Company or a change in the individual's  responsibilities  following a change in
control.

Compensation  Pursuant to Plans.  Other than disclosed above, the Company has no
plan  pursuant to which cash or non-cash  compensation  was paid or  distributed
during the last fiscal  year,  or is proposed to be paid or  distributed  in the
future, to the individuals and group described in this item.

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

There were 8,807,293 shares of the Company's common stock issued and outstanding
on December  31,  2003.  No  preferred  shares were  issued and  outstanding  at
December 31, 2003. The following  tabulates holdings of shares of the Company by
each person who, subject to the above, at the date of this Report, holds or owns
or is known by Management to own beneficially more than five percent (5%) of the
Common Shares of the Company and, in addition,  by all directors and officers of
the Company individually and as a group.

                                       10
<PAGE>


                                         Amount
Name and Address of                      of Common Shares
Beneficial Owner                         Currently Owned       Percent
------------------------------   -------------------------- ---------------
Charles Smith (1)                                   0            0.00

20700 Ventura Blvd. #227
Woodland Hills CA 91364

Tisa Capital Corp.                          3,170,116           35.99
20700 Ventura Blvd. #227
Woodland Hills CA 91364

Dr. Sadegh Salmassi (1)                        6,350             0.07
20700 Ventura Blvd. #227
Woodland Hills CA 91364

Steven Onoue (2)                             307,500             3.49
20700 Ventura Blvd. #227
Woodland Hills CA 91364

Sanitec USA National, Inc.                1,333,334             15.14
23 Fairfield Place
West Caldwell NJ 07006

Phoenix Consulting Services               1,233,334             14.00
21800 Oxnard Street #440
Woodland Hills CA 91367

All directors and officers
as a group (3)                               313,850             3.56
______________
(1) Denotes officer and/or director.

Changes in Control. There are no arrangements known to the Company, icluding any
pledge by any person of securities of the Company, the operation of which may at
a subsequent date result in a change of control of the Company.

Item 12. Certain Relationships and Related Transactions.

The Company  presently  leases no office space of its own. When  necessary,  the
Company  shares office space with its  subsidiary,  Sanitec of Hawaii,  Ltd., of
which it owns 100%, at no charge. SSH's monthly rent is approximately $9,500 and
the  sub-lease  expires  in 2005 with an  option to extend it for an  additional
seven years. The Company  anticipates that this space is sufficient for the near
future.

During the year ended  December 31, 2003,  the Company  continued to pay certain
expenses and  obligations of its  subsidiaries in order that they could continue
to operate.  In the event that these  subsidiaries  are  acquired or merged into
other  entities,  the  Company  anticipates  being  repaid  for these  advances.
However,  in the event that these  companies  are never merged or acquired,  the
Company may never be repaid.  In addition,  the Company may not continue to have
the ability to continue  advancing funds for operations for these  entities.  In
the event that the  Company  cannot  continue  to fund their  operations,  these
subsidiaries may cease to operate and exist.

                                       11
<PAGE>

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

(a)  Financial Statements and Schedules

The  following  financial  statements  and  schedules  are filed as part of this
report:

Independent Auditors Report dated April 14, 2003
Consolidated Balance Sheet
Consolidated Statements of Operations
Consolidated Statement of Changes in Stockholders' Equity
Consolidated Statements of Cash Flows
Notes to Consolidated Financial Statements

List of Exhibits

The following exhibits are filed with this report.

Financial Statements for the Year Ended December 31, 2003

(b) There  were no Reports  filed on Form 8-K  during the fourth  quarter of the
Company's fiscal year ended December 31, 2003.

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

May 17, 2004                       CROWN PARTNERS, INC.


                                    /s/ John Bonaventura
                                   ------------------------------
                                    John Bonaventura, Interim CEO

                                    /s/ Charles Smith
                                   -----------------------------
                                    Charles Smith, CFO, Director

May 17, 20042                       /s/ Dr. Sadegh Salmassi
                                   -----------------------------
                                    Dr. Sadegh Salmassi, Director

May 17, 2004                        /s/ Steven Onoue
                                   -----------------------------
                                    Steven Onoue, Director

                                       12
<PAGE>

                          INDEPENDENT AUDITORS' REPORT

To the Board of Directors
Crown Partners, Inc.
Woodland Hills, California

We have audited the accompanying consolidated balance sheet of Crown Partners,
Inc. as of December 31, 2003, and the consolidated statements of operations,
stockholders' deficit, and cash flows for each of the years then ended. These
consolidated financial statements are the responsibility of Crown's management.
Our responsibility is to express an opinion on these consolidated financial
statements based on our audits.

We conducted our audits 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 audits provide a
reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Crown Partners, Inc. as of
December 31, 2003, and the results of its operations and its cash flows for each
of the two years then ended, in conformity with accounting principles generally
accepted in the United States of America.

The accompanying consolidated financial statements have been prepared assuming
that Crown will continue as a going concern. As discussed in Note 2 to the
consolidated financial statements, Crown has incurred losses through December
31, 2003 and 2002 totaling $772,475 and $301,325 and at December 31, 2003 had a
capital deficit of $749,986. Crown will require additional working capital to
develop its business until Crown either (1) achieves a level of revenues
adequate to generate sufficient cash flows from operations; or (2) obtains
additional financing necessary to support its working capital requirements.
These conditions raise substantial doubt about Crown's ability to continue as a
going concern. Management's plans in regard to this matter are also described in
Note 2. The accompanying consolidated financial statements do not include any
adjustments that might result from the outcome of these uncertainties.


Malone & Bailey, PLLC
Houston, Texas


May 17, 2004

                                      F-1

<PAGE>
                              CROWN PARTNERS, INC.
                           CONSOLIDATED BALANCE SHEET
                                December 31, 2003

<TABLE>
<CAPTION>

                                            ASSETS

Current assets
<S>                                                                         <C>
  Cash                                                                      $           502
                                                                            ---------------
    Total current assets                                                                502

Property and equipment, net                                                          44,841
                                                                            ---------------
                                                                            $        45,343
                                                                            ===============

                            LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities
  Accounts payable and accrued expenses                                     $       518,083
  Notes payable                                                                      80,735
  Advances                                                                          196,511
                                                                            ---------------
    Total current liabilities                                                       795,329
                                                                            ---------------

Commitments and contingencies

STOCKHOLDERS' DEFICIT:
  Convertible preferred stock, $10 par value, 10,000,000 shares
    authorized, no shares issued and outstanding                                          -
  Common stock, $.001 par value, 50,000,000 shares
    authorized, 8,807,293 shares issued and outstanding                               8,807
Additional paid in capital                                                        3,854,212
Accumulated deficit                                                              (4,613,005)
                                                                            ---------------
  Total Stockholders' Deficit                                                      (749,986)
                                                                            ---------------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT                                 $        45,343
                                                                            ===============
</TABLE>

                 See accompanying summary of accounting policies
                 and notes to consolidated financial statements.

                                      F-2
<PAGE>

                              CROWN PARTNERS, INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                     Years Ended December 31, 2003 and 2002

<TABLE>
<CAPTION>

                                                            2003                 2002
                                                      -----------------    -----------------
<S>                                                   <C>                  <C>
Revenues                                              $        34,171      $             -

Costs and Expenses:
  General and administrative                                  501,119              286,621
  Impairment                                                  374,385                    -
  Interest expense                                             21,795               17,517
                                                      ---------------      ---------------
                                                              897,299              304,138
                                                      ---------------      ---------------

Net loss before income taxes                                 (863,128)            (304,138)

Provision for income taxes                                          -                    -
                                                      ---------------      ---------------
Net loss before minority interest                            (863,128)            (304,138)

Minority interest in loss of subsidiaries                      90,653                2,813
                                                      ---------------      ---------------
Net loss                                              $      (772,475)     $      (301,325)
                                                      ===============      ===============

Net loss per share:
  Net loss basic and diluted                          $         (0.10)     $         (0.04)
                                                      ================     ================

Weighted average shares outstanding:
  Basic and diluted                                         8,000,871            7,084,440
                                                      ===============      ===============
</TABLE>


                 See accompanying summary of accounting policies
                 and notes to consolidated financial statements.

                                      F-3
<PAGE>



                              CROWN PARTNERS, INC.
                CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT
                          Years Ended December 31, 2003

<TABLE>
<CAPTION>

                                                                        Additional
                                            Common stock              paid in capital       Accumulated
                                                                                              deficit             Total
                                   --------------------------------   ----------------   ------------------  ----------------
                                       Shares            Amount
                                   ----------------   -------------   ----------------   ------------------  ----------------
Balance,
<S>        <C> <C>                       <C>          <C>             <C>                <C>                 <C>
  December 31, 2001                      7,068,714    $      7,069    $     3,655,551    $       (3,539,205) $      123,415

Issuance of common
  stock for cash                            20,000              20              9,980                     -          10,000

Net loss                                         -               -                  -              (301,325)       (310,325)
                                   ---------------    ------------    ---------------    ------------------  --------------

Balance,
  December 31, 2002                      7,088,714           7,089          3,665,531            (3,840,530)       (167,910)

Issuance of common
  stock for debt                           600,000             600             77,400                     -          78,000

Issuance of common
  stock for cash                         1,124,000           1,124            111,276                     -         112,400

Net loss                                         -               -                  -              (772,475)       (310,325)
                                   ---------------    ------------    ---------------    ------------------  --------------

Balance,
  December 31, 2003                      7,088,714    $      7,089    $     3,665,531    $       (4,613,005) $     (749,986)
                                   ===============    ============    ===============    ==================  ==============
</TABLE>

                 See accompanying summary of accounting policies
                 and notes to consolidated financial statements.

                                      F-4
<PAGE>



                              CROWN PARTNERS, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                     Years Ended December 31, 2003 and 2002

<TABLE>
<CAPTION>
                                                                                      2003                 2002
                                                                                 ----------------    -----------------
CASH FLOWS FROM OPERATING ACTIVITIES
<S>                                                                              <C>                 <C>
Net loss                                                                         $      (772,475)    $      (301,325)
Adjustments to reconcile net deficit to cash used
  by operating activities:
    Depreciation and amortization                                                         11,846              48,998
    Impairment                                                                           374,385              23,289
    Bad debt                                                                              40,341               9,145
    Common stock for interest                                                             18,000                   -
Net change in:
  Prepaid assets                                                                               -              25,250
  Accounts payable and accrued expenses                                                  197,209              74,257
                                                                                 ---------------     ---------------

CASH FLOWS USED IN OPERATING ACTIVITIES                                                 (130,694)           (120,386)
                                                                                 ---------------     ---------------

CASH FLOWS FROM INVESTING ACTIVITIES
  Capital expenditures                                                                   (42,909)            (14,625)
  Changes in loans receivable                                                                  -             (31,645)
  Acquisition of subsidiary                                                                    -                   -
                                                                                 ---------------     ---------------

CASH FLOWS USED IN INVESTING ACTIVITIES                                                  (42,909)            (46,270)
                                                                                 ---------------     ---------------

CASH FLOWS FROM FINANCING ACTIVITIES
  Proceeds from the sale of stock                                                        112,400              10,000
  Proceeds from notes payable                                                             66,456                   -
  Proceeds (payments) on advances                                                         (6,125)            170,798
                                                                                 ---------------     ---------------

CASH FLOWS PROVIDED BY FINANCING ACTIVITIES                                              172,731             180,798
                                                                                 ---------------     ---------------

NET INCREASE IN CASH                                                                     (18,872)             14,142
Cash, beginning of period                                                                 19,374               5,232
                                                                                 ---------------     ---------------
Cash, end of period                                                              $           502     $        19,374
                                                                                 ===============     ===============

SUPPLEMENTAL CASH FLOW INFORMATION
  Interest paid                                                                  $             -     $             -
  Income taxes paid                                                              $             -     $             -

NONCASH TRANSACTION:
  Issuance of common stock for debt                                              $        60,000     $             -
</TABLE>

                 See accompanying summary of accounting policies
                 and notes to consolidated financial statements.

                                      F-5
<PAGE>


                              CROWN PARTNERS, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Crown Partners, Inc., a Nevada corporation, was incorporated on November 3,
1986. Crown was originally incorporated as Ed Phills, Inc. and its name was
changed to Vegas Ventures, Inc., Telemall Communications, Inc. and subsequently
to Stein's Holdings, Inc. Crown was a development stage company until 1999, when
it acquired the following companies and became an active company:

Multi-Source Capital Ltd. - Merged into Stein's Holdings, Inc. in May 1999.

20/20 Web Design, Inc. - Crown acquired 80% ownership in this company in March
1999.

In September 2000, Crown acquired 90% ownership in Universal Services and
Acquisitions, Inc.

In November 2001, Crown acquired 100% of Sanitec Services of Hawaii, Inc.

Nature of Business

Crown Partner's, Inc. main activities and sources of income are derived from
daily trading in the stock markets.

20/20 Web Design, Inc. and Universal Services and Acquisitions, Inc. are in the
business of managing and acquiring subsidiary companies.

Sanitec Services of Hawaii, Inc. ("Sanitec") processes medical waste. Currently,
Sanitec has not begun operations.

Principles of Consolidation

The December 31, 2003 consolidated financial statements include the accounts of
Crown's majority owned subsidiaries. All significant intercompany transactions
and balances have been eliminated. Crown's consolidated financial statements
include the results of operations from the respective dates of acquisition
through divestiture or December 31, 2003, as applicable.

Cash and Cash Equivalents

For purposes of the statement of cash flows, Crown considers all highly liquid
debt instruments purchased with an original maturity of three months or less to
be cash equivalents.

Property and Equipment

Property and equipment are stated at cost. Major renewals and improvements are
charged to the asset accounts while replacements, maintenance and repairs, which
do not improve or extend the lives of the respective assets, are expensed. At

                                      F-6
<PAGE>

the time property and equipment are retired or otherwise disposed of, the asset
and related accumulated depreciation accounts are relieved of the applicable
amounts. Gains or losses from retirements or sales are credited or charged to
income.

Crown depreciates its property and equipment for financial reporting purposes
using the straight-line method based upon the following useful lives of the
assets:

         Medical equipment - 5 years
         Computer hardware - 5 years
         Computer software - 3 years

Use of Estimates

The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities at the date of the balance sheet. Actual results could differ from
those estimates.

Income Taxes

The asset and liability approach is used to account for income taxes by
recognizing deferred tax assets and liabilities for the expected future tax
consequences of temporary differences between the carrying amounts and the tax
bases of assets and liabilities. Crown records a valuation allowance to reduce
the deferred tax assets to the amount that is more likely than not to be
realized.

Recent Accounting Pronouncements

Crown does not expect the adoption of recently issued accounting pronouncements
to have a significant impact on Crown's results of operations, financial
position or cash flow.

Net Loss Per Share

Basic earnings (loss) per share is computed by dividing net income available to
common stockholders by the weighted average number of common shares outstanding
for the period. Diluted earnings (loss) per share reflects the potential
dilution that could occur if securities or other contracts to issue common stock
were exercised or converted into common stock.


NOTE 2 - Financial Condition And Going Concern

For the years ended December 31, 2003 and 2002, Crown incurred losses totaling
$772,475 and $301,325, respectively, and at December 31, 2003 had a capital
deficit of $167,910. Because of these recurring losses, Crown will require
additional working capital to develop and/or renew its business operations.

                                      F-7
<PAGE>

Crown intends to raise additional working capital either through private
placements, public offerings and/or bank financing. Crown is also identifying
merger and/or acquisition candidates. As of May 17, 2004, no acquisition or
merger agreements have been closed.

There are no assurances that Crown will be able to either (1) achieve a level of
revenues adequate to generate sufficient cash flow from operations; or (2)
obtain additional financing through either private placement, public offerings
and/or bank financing necessary to support Crown's working capital requirements.
To the extent that funds generated from any private placements, public offerings
and/or bank financing are insufficient, Crown will have to raise additional
working capital. No assurance can be given that additional financing will be
available, or if available, will be on terms acceptable to Crown. If adequate
working capital is not available Crown may not renew its operations.

These conditions raise substantial doubt about Crown's ability to continue as a
going concern. The consolidated financial statements do not include any
adjustments relating to the recoverability and classification of asset carrying
amounts or the amount and classification of liabilities that might be necessary
should Crown be unable to continue as a going concern.


NOTE 3 - DISCLOSURE ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS

Crown estimates that the fair value of all financial instruments at December 31,
2003 and 2002, as defined in FASB 107, does not differ materially from the
aggregate carrying values of its financial instruments recorded in the
accompanying balance sheet. The estimated fair value amounts have been
determined by Crown using available market information and appropriate valuation
methodologies. Considerable judgment is required in interpreting market data to
develop the estimates of fair value, and accordingly, the estimates are not
necessarily indicative of the amounts that Crown could realize in a current
market exchange.


NOTE 4 - PROPERTY AND EQUIPMENT

Property and equipment consist of the following:

                                                                   2003
                                                             ------------------
    Medical waste equipment                                  $          454,403
    Computer equipment                                                   37,491
                                                             ------------------
                                                                        491,894
    Less accumulated depreciation                                       447,053
                                                             ------------------
                                                             $           44,841
                                                             ==================

The depreciation expense for the years ended December 31, 2003 and 2002 was
$11,846 and $48,998, respectively.


                                      F-8
<PAGE>

NOTE 5 - ADVANCES

The advances are unsecured and bear interest at 10% and are due upon demand.


NOTE 6 - INCOME TAXES

For the years ended December 31, 2003 and 2002, Crown incurred net losses and,
therefore, has no tax liability. The net deferred tax asset generated by the
loss carry-forward has been fully reserved. The cumulative net operating loss
carry-forward is approximately $3,500,000 at December 31, 2003, and will expire
in the years 2011 through 2023.

The provision for federal income tax consists of the following for the years
ended December 31:

<TABLE>
<CAPTION>
                                                                2003                2002
                                                          -------------       -------------
<S>                                                       <C>                 <C>
    Current provision                                     $           -       $           -
    Deferred provision                                                -                   -
                                                          -------------       -------------
                                                          $           -       $           -
                                                          =============       =============

Deferred income taxes consist of the following at December 31,

                                                                2003                2002
                                                          -------------       -------------
    Long-term:
      Deferred tax assets                                 $   1,120,000       $     950,000
      Valuation allowance                                    (1,120,000)           (950,000)
                                                          -------------       -------------
                                                          $           -       $           -
                                                          =============       =============
</TABLE>


NOTE 7 - COMMITMENTS AND CONTINGENCIES

Crown rents its facilities in California on a month to month basis from an
affiliated company and its facilities in Hawaii over a 5 year term which expires
in April 2005. The rent expense for the years ended December 31, 2003 and 2002
was $103,729 and $133,523, respectively.

Minimum future lease rentals are as follows:

    ------------------------------------------  ----------------
    December 31,                                     Amount
    ------------------------------------------  ----------------
    2004                                        $         90,012
    2005                                                  30,004
                                                ----------------
    Totals                                      $        120,016
                                                ================

                                      F-9

<PAGE>

Litigation

Crown has been named as a defendant in an action in the Circuit Court of Lake
County, Illinois dated December 17, 2001 brought by Mammoth Corporation against
the Company. This action arises out of the default of a loan made by Mammoth to
Crown which was secured by stock of 20/20 Net. Mammoth is seeking repayment of
the loan and interest in an amount to be determined.



Crown was named as a defendant in an action filed in Federal Court in Los
Angeles, California in July, 2002 brought by Invinity Systems Corporation,
Universal Medical Alliance, Madison Technology Systems, Inc., and Sanitec USA
National, Inc. against Crown and others. This action arises out transaction by
and between Crown and certain of the plaintiffs and seeks the return of funds
paid to Crown in connection with certain transactions as well as punitive and
other damages including a RICO claim. Crown was never served in this matter but
if the plaintiffs seek to continue this action against Crown, Crown intends to
vigorously defend itself.





                                      F-10