SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, DC  20549

                                FORM 10-KSB/A


(X)  Annual Report pursuant to Section 13 or 15(d) of the Securities and
     Exchange Act of 1934 for the fiscal year ended November 30, 2000.

                        Commission File Number 0-16354

                            EXTEN INDUSTRIES, INC.
                            ----------------------
            (Exact name of registrant as specified in its charter)

                 DELAWARE                              52-1412493
                 --------                              ----------
     (State or other jurisdiction of              (IRS Employer ID No.)
      incorporation or organization)

                       9620 CHESAPEAKE DRIVE, SUITE 201
                         SAN DIEGO, CALIFORNIA 92123
                       --------------------------------
                   (Address of principal executive offices)

                               (858) 496-0173
                               --------------
             (Registrant's telephone number, including area code)

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

                                     None
                                     ----

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

                                                     Name of each exchange
         Title of each class                          on which registered
Common Stock $0.01 par value per share                       OTC BB
--------------------------------------                       ------

     Check whether the issuer: (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or such
shorter period that the registrant was required to be 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 in response to
Item 405 of Regulation S-B is not contained in this form, and no disclosure
will be contained, to the best of registrant's knowledge, in definitive proxy
or information statements incorporated by reference in Part III of this
Form 10-KSB or any amendment to this Form 10-KSB [X]

     State issuer's revenues for its most recent fiscal year:  $ 0 .
                                                               ----

     State the aggregate market value of the voting and non-voting common
equity held by non-affiliates of the issuer (based upon 53,846,801 shares held
by non-affiliates and the closing price of $.14 per share for the common stock
on the over-the counter market as of February 2, 2001): $7,538,552.

State the number of shares of the issuer's common stock, par value. 01,
outstanding as of February 2, 2001: 73,586,502.

                     DOCUMENTS INCORPORATED BY REFERENCE
                                    None.
                                    ----

Transitional Small Business Disclosure Format (check one):  Yes      No  X
                                                                ---     ---

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<PAGE>
                            EXTEN INDUSTRIES, INC.
                                 FORM 10-KSB

                                    INDEX
PART I
------

Item 1.  DESCRIPTION OF BUSINESS                                         1
Item 2.  DESCRIPTION OF PROPERTY                                         3
Item 3.  LEGAL PROCEEDINGS                                               3
Item 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS             3

PART II
-------

Item 5.  MARKET FOR THE REGISTRANT'S COMMON STOCK
           AND RELATED STOCKHOLDER MATTERS                              4
Item 6.  MANAGEMENT'S PLAN OF OPERATIONS                                4
Item 7.  FINANCIAL STATEMENTS                                           5
Item 8.  CHANGES AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING
           AND FINANCIAL DISCLOSURE                                     5

PART III
--------

Item 9.  DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS   6
Item 10. EXECUTIVE COMPENSATION                                         7
Item 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS & MANAGEMENT   8
Item 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS                 8
Item 13. EXHIBITS AND REPORTS ON FORM 8-K                               9

SIGNATURES                                                              9

CONSOLIDATED FINANCIAL STATEMENTS                                   F1 - F22

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<PAGE>
                                   PART I

                      ITEM 1.  DESCRIPTION OF BUSINESS


INTRODUCTION  Exten Ventures, the predecessor of Exten Industries, Inc.,
a Delaware corporation ("the Company" or "Exten"), was incorporated on
April 28, 1970. In September of 1991 the Company acquired all of the
outstanding stock of Xenogenex, Inc., a California corporation, ("Xenogenex").
At that time Xenogenex was funding research on interspecies transplants and
the development of an artificial liver or synthetic bio-liver with a major
West Coast medical center.  Xenogenex had the rights to the commercial
development of the research work being performed by that medical center.
In July 1996 all right, title and interest in the artificial liver technology
was transferred to the Company. In 1997 the Company formed a new subsidiary,
Xenogenics Corporation, a Nevada corporation, (Xenogenics) for the express
purpose of holding and developing the Sybiol(R) synthetic bio-liver technology.
Xenogenics holds all rights to the extracorporeal artificial liver technology.

BUSINESS OF EXTEN  As of November 30, 2000, the Company's only active business
is the management of its Xenogenics subsidiary's proposed research and
development activities of Sybiol(R) artificial liver technology.

BUSINESS OF XENOGENICS  Xenogenics was incorporated in Nevada on April 30, 1997
for the purpose of funding and conducting biotech research.  In June 1997,
Exten transferred all assets, including but not limited to, rights to the
Sybiol(R) synthetic bio-liver technology to the majority-owned subsidiary,
Xenogenics. Xenogenics' only active business is the proposed research and
development activities of Sybiol(R) synthetic bio-liver or artificial liver
technology.
     The Company is currently working toward a new generation device for liver
failure treatment and an engineered cell line to work with it. An NIH grant was
authorized in January, 2001 to help fund joint research between Xenogenics,
MultiCell Corporation of Rhode Island and Compact Membranes of Delaware. When
the product redesign work with these and other research partners is completed,
testing is expected to resume at Loyola University Medical Center and other
sites. The FDA approval process could take 3 to 5 years.

EMPLOYEES  As of February 2, 2001, Exten had 3 officers and one part time
person; Xenogenics had one officer.

RESEARCH AND DEVELOPMENT  In fiscal 2000, the Company's research and
development costs were $184,672. Research and development costs during fiscal
1999 were $145,940. The Company intends to continue its research and
development during fiscal 2001.

COMPETITION  The Company is engaged in businesses characterized by extensive
research efforts, rapid technological change, and intense competition.
Vitagen, Hemocleanse, Excorp and Algenix are 4 noteworthy US competitors in
various stages of developmentof liver-related products or technologies. A
German firm offers the MARS kidney and liver "dialysis" device at a very high
cost per treatment.  However there is no affordable live-cell artificial liver
device available on the world market that we are aware of. The Company believes
it has significant advantages in methodology and mechanical structure which
would provide significant cost and other advantages over competitive
technologies.  The Company's device is intended to be among those which most
closely replicate human liver functions, not just a blood-cleaning device.

                                    -  1 -
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<PAGE>

PATENTS AND PROPRIETARY TECHNOLOGY  Any proprietary protection that the Company
can obtain and maintain will be important to its proposed business.  A patent
application is presently pending on the process utilized by the SYBIOL(R)
artificial liver device under the Patent Cooperative Treaty Protection in
15 countries.  The Sybiol(R) trademark is registered in the United States
Patent and Trademark Office, number 2,048,080.

NEED FOR GOVERNMENT APPROVAL  The Company's products will be subject to
regulation in the US by the Food and Drug Administration ("FDA") and by
comparable regulatory authorities in foreign jurisdictions. The products
produced will be classified as "biologics" regulated under the Public Health
Service Act and the Federal Food, Drug and Cosmetic Act. Development of a
therapeutic product for human use is a multi-step process. First, animal or in
vitro testing must establish the potential safety and efficacy of the
experimental product in a given disease. Once the product is found to be
reasonably safe and potentially efficacious in animals, suggesting that human
testing would be appropriate, an Investigational New Drug ("IND") application
is submitted to the FDA. FDA approval which may, in some circumstances, involve
substantial delays is necessary before commencing clinical investigations.

Clinical investigations typically involve three phases. Phase I is conducted to
evaluate the safety of the experimental product in humans, and if possible, to
gain early evidence of effectiveness. Phase I studies also evaluate various
routes, dosages and schedules of product administration. The demonstration of
therapeutic benefit is not required in order to complete Phase I successfully.
If acceptable product safety is demonstrated, the Phase II studies are
initiated. The Phase II trials are designed to evaluate the effectiveness of
the product in the treatment of a given disease and, typically, are well
controlled closely monitored studies in a relatively small number of patients.

The optimal routes and schedules of administration are determined in these
studies. As Phase II trials are successfully completed, Phase III studies will
be commenced. Phase III studies are expanded, controlled and uncontrolled
trials which are intended to gather additional information about safety and
efficacy in order to evaluate the overall risk/benefit relationship of the
experimental product and provide an adequate basis for physician labeling.
These studies also may compare safety and efficacy of the experimental device
with currently available products. It is not possible to estimate the time in
which Phase I, II and III studies will be completed; it is often several years.

Following the successful completion of these clinical investigations, the
preclinical and clinical evidence that has been accumulated is submitted to the
FDA as part of a product license application ("PLA"). Approval of the PLA or
IND is necessary before a company may market the product. The approval process
can be very lengthy and depends upon the time it takes to review the submitted
data and the FDA's comments on the application and the time required to provide
satisfactory answers or additional clinical data when requested.

In addition to the regulatory framework for product approvals, the Company is
and may be subject to regulation under state and federal law, including
requirements regarding occupational safety, laboratory practices, the use,
handling and disposition of radioactive materials, environmental protection and
hazardous substance control, and may be subject to other present and possible
future local state, federal and foreign regulation, including future regulation
of the biotechnology field.

                                    -  2 -
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<PAGE>
                      Item 2.  DESCRIPTION OF PROPERTY

Exten

SAN DIEGO.  Exten leases approximately 300 square feet of space, at
$300 per month, in an office building at 9620 Chesapeake Dr., Suite 201
in San Diego, CA.  The Company believes the facilities are adequate for the
near future.

ARIZONA.  As of 11/30/2000, the Company owned 202 undeveloped lots in the
Grand Canyon Development in Valle, Arizona, app. 70 miles south of the
Grand Canyon which were acquired by prior management as a tangible asset.
The Company currently has no policy of acquisition of land for capital gain or
income. The company is currently in arrears on back taxes and interest.  Tax
sale for back taxes is pending and as management has been unable to obtain a
current appraisal of the fair market value of the land, they have not yet
decided whether to pay the back taxes.

Xenogenics

During the fiscal year ending November 30, 2000, Xenogenics was provided
offices and clerical services by its parent, Exten, and did not  maintain
separate offices. All R & D work is outsourced as discussed elsewhere in this
document.


                         Item 3.  LEGAL PROCEEDINGS

There were no pending legal proceedings involving the Company as of
November 30, 2000.


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

    Exten Industries, Inc. (EXTI.OB) held its annual shareholders meeting
                         May 17th, 2000 in San Diego.
             All directors and items on the proxy were approved:
<TABLE>
             DIRECTORS                  FOR             WITHHELD
             ----------------        ----------        ----------
             <S>                     <C>               <C>
             W. Gerald Newmin        43,661,467           409,845
             Farrest Loper           43,862,467           208,845
             Jerry Simek             43,637,414           433,898
             Ed Sigmond              43,881,967           189,345
</TABLE>
Newmin, Loper and Simek were prior Directors of the Company; Mr. Sigmond of
Kestrel Equity partners, Ltd., had not previously served as a Director.  All
serve until the next Annual Meeting of Shareholders and/or until successors are
elected.
<TABLE>
PROPOSALS                                     FOR        AGAINST      ABSTAIN
-------------------------------------      ----------   ----------   ----------
<S>                                        <C>          <C>          <C>
An amendment to Exten's Certificate of
  Incorporation to increase authorized
  shares to 200,000,000 was approved.      42,560,207    1,168,831      342,273
EXTEN Stock Incentive Plan was approved    12,874,601      896,652      186,965
EXTEN Employee Benefit Plan was approved   13,106,876      671,482      179,859
Appointment of Logan Throop & Co.
  as independent public auditors
  was ratified                             43,897,834       15,230      158,247
</TABLE>
                                    -  3 -
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<PAGE>
                                  PART II


               Item 5.  MARKET FOR THE REGISTRANT'S COMMON STOCK
                        AND RELATED STOCKHOLDER MATTERS

From June 14, 1994 to the present, the Company's Common Stock has traded on the
OTC Bulletin Board.

The table below gives the range of high and low bid prices for Exten Common
Stock for the fiscal years ended November 30, 2000 and November 30, 1999.

                        Fiscal Year Ended November 30,
                                     2000

                                          High       Low
                                          -----     -----
                      First quarter       1.26       .03
                      Second quarter       .94       .19
                      Third quarter        .34       .14
                      Fourth quarter       .24       .12

                                     1999

                      First quarter        .05       .03
                      Second quarter       .043      .021
                      Third quarter        .067      .022
                      Fourth quarter       .06       .02

The quotations reflect inter-dealer prices, without retail mark-ups, mark-down
or commission and may not represent actual transactions or a liquid trading
market.

No cash dividends have been paid on Exten Common Stock for the 2000 and 1999
fiscal years and no change of this policy is under consideration by the Board
of Directors.

The payment of cash dividends in the future will be determined by the Board of
Directors in light of conditions then existing, including the Company's
earnings, financial requirements, opportunities for reinvesting earnings,
business conditions, and other factors.  The number of shareholders of the
Company's Common Stock on November 30, 2000 was approximately 6500.  There are
otherwise no restrictions on the payment of dividends.

RECENT SALES OF UNREGISTERED SECURITIES.  None


                   Item 6.  MANAGEMENT'S PLAN OF OPERATIONS

PLAN OF OPERATION  The Company's only business in fiscal 2000 was the research
and development of the proprietary Sybiol(R) liver support technology.
Dr. John Brems, Chairman of the Company's Scientific Advisory Board, oversees
Loyola University's liver transplant program and has established an artificial
liver research program focusing on the Company's technology.  He has recruited
a team of many of the world's foremost liver doctors and scientists at
Loyola. Scientific Advisory Board members include Dr. Donald Cramer, BS, DVM,
and Ph.D., director of Transplantation Research at Children's Hospital in
Los Angeles; Dr. David Van Thiel, MD Director of Liver Transplantation at
Loyola; Amy Friedman, MD, Chief, Liver Transplantation, Yale-New Haven
Hospital; Dr. Alessandra Colantoni, Research Associate, Liver Transplant
Service, Loyola University also serves on the Scientific Advisory Board.

The Company has a Research and Development Agreement and a Supplier Agreement
with MultiCell Associates, Inc. (MultiCell) of Warwick, RI, under which
MultiCell will supply a unique engineered porcine liver cell line and optimize
the interface between this cell line and Xenogenics' proprietary Sybiol(R)
liver failure treatment device.  This cell line is expected to eliminate
variability in patient treatment and limit the viral risks associated with
primary hepatocytes.

The Company continues to seek financing for its subsidiary, Xenogenics to fund
ongoing R&D.  It expects to have funding in place within the next 12 months.
Funding received in fiscal 2000 was from Kestrel Equity Partners and individual
investors. Cash on hand and an additional $500,000 commitment from Kestrel
Equity Partners is expected to be sufficient for the current fiscal year's
needs. In order to continue to fund operations, R&D and growth, the Company is
exploring various opportunities such as: obtaining financing from multiple
sources, mergers, acquisitions or other business combinations and alliances.

The Company has signed a Letter of Intent to acquire Lexicor Medical
Technologies Inc. of Boulder CO. The Company has signed a Letter of Intent to
acquire MediQuip International and Sterling Medical Technologies, Inc. of
Dallas, TX. There is no assurance that definitive agreements will be concluded
with any of these companies. The Company has also identified several other
business entities that present possibilities for alliance, acquisition or
merger. The Company is currently in the preliminary discussion stage with
several entities in this regard. There is no assurance that these discussions
will result in the completion of a transaction.

The Company is negotiating with an investment group to provide a $15 million
equity credit line. The Company continues to seek additional financing through
the offering and sale of the Company's securities, joint ventures, and other
efforts.  There can be no assurances that the Company will be successful in
obtaining any additional financing, including the equity line, or in otherwise
completing any joint venture, alliance, merger, or other transaction or, if the
Company is successful in completing any such transaction, that it can be
completed on terms that are reasonable in view of the Company's current
circumstances.

During Fiscal 1999 and 2000, the Company continued to control costs. The
Company continues to effect transactions that reduce its liabilities and cash
requirements while it continues to raise capital.  The Company continues to pay
directors fees, consulting fees, and in some cases, legal fees through the
issuance of the Company's Common Stock with the subsequent registration of the
shares so issued on Form S-8.  The Company has been forced to take these steps
to conserve the Company's cash.


                                    -  4 -
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<PAGE>

                RESEARCH AGREEMENTS FOR SYBIOL(R) DEVELOPMENT

A.   MULTICELL ASSOCIATES, WARWICK, RHODE ISLAND.  The Company has a Research
     and Development Agreement and a Supplier Agreement with MultiCell
     Associates, Inc. (MultiCell) of Warwick, RI, under which MultiCell will
     supply a unique engineered porcine liver cell line and optimize the
     interface between this hepatocyte cell line and Xenogenics' proprietary
     Sybiol(R) liver failure treatment device.  This cell line is expected to
     eliminate variability in patient treatment and limit the pathogen risks
     associated with sourcing variation of primary hepatocytes.
B.   LOYOLA UNIVERSITY MEDICAL CENTER, CHICAGO.  Preclinical research on the
     efficacy of the Sybiol(R) device was being conducted at Loyola University
     Medical Center, Chicago, Il. but was halted pending working on a new
     generation device with MultiCell, Fallbrook and other entities. The team
     of bioartificial liver researchers including John Brems, MD, FACS,
     Chairman of Xenogenics' Scientific Advisory Board, James Filkins, Ph.D.,
     and Professor David Van Thiel, MD, FACP, also Xenogenics Scientific
     Advisory Board members and noted hepatological experts at Loyola will
     again be chosen to conduct research when the device improvement is
     completed.


                        Item 7.  FINANCIAL STATEMENTS

The full text of the Company's audited consolidated financial statements for
the fiscal years ended November 30, 2000 and 1999 begins on page F-1 of this
Report and is incorporated herein by reference.


               Item 8.  CHANGES AND DISAGREEMENTS WITH ACCOUNTANTS
                        ON ACCOUNTING AND FINANCIAL DISCLOSURE

     Logan, Throop, & Co. LLP was previously the Company's principal
accountants.  On January 1, 2001, Logan, Throop, & Co. LLP merged with
Hutchinson & Bloodgood, LLP. and Hutchinson & Bloodgood, LLP was engaged to
audit our consolidated financial statements.  The board of directors has
approved the appointment of Hutchinson & Bloodgood, LLP as our principal
accountants.

     In connection with the audit for the year ended November 30, 1999, there
were no disagreements with Logan, Throop, & Co. LLP on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedures, which disagreements if not resolved to their satisfaction would
have caused them to make reference in connection with their opinion on the
subject matter of the disagreement.

     The audit report of Logan, Throop & Co. LLP on our consolidated financial
statements as of November 30, 1999 contained statements that our sustained
recurring losses, negative cash flows, and loan agreement defaults raised
substantial doubt about our ability to continue as a going concern.


                                    -  5 -
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<PAGE>
                                  PART III


     Item 9.  DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL
              PERSONS; COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT

The Directors and Executive Officers of the Company as of November 30, 2000
were:

Name               Age      Position                              Date elected
----               ---      --------                              ------------

W. Gerald Newmin   63       Chairman, CEO, Secretary & Director     05-17-00

Jerry G. Simek     57       President & Director                    05-17-00

Farrest Loper      63       Director                                05-17-00

Ed Sigmund         42       Director                                05-17-00

MR. W. GERALD NEWMIN began as a consultant to the Company's Board of Directors
in June 1995 and was elected Acting Secretary of the Company July 13, 1995.
On December 1, 1995, Mr. Newmin was elected Chairman, Chief Executive Officer,
and President of the Company.  "Jerry" Newmin was President of HealthAmerica
from 1984-1987 and President of International Silver Company from 1977-1984
following top positions and revenue increases at American Medicorp, and
numerous operating divisions of Whittaker Corporation.  Mr. Newmin currently
serves as Chairman of the Board of Directors and CEO of SYS, a publicly traded
defense systems company in San Diego, California, which is currently traded on
the OTC Bulletin Board.  Newmin is past Chairman of the Board of the Corporate
Directors Forum, a non-profit organization which promotes corporate governance,
and which is composed of over 170 Board members from California companies.
He holds a Bachelor's degree in Accounting from Michigan State University.

MR. JERRY SIMEK was elected to the Board of Directors on
March 20, 1998. He was appointed President, COO and Treasurer of Exten on
June 16, 1998.  Mr. Simek has been President of JGS Management Group since
1984, specializing in strategic planning, financial management,
business/corporate development and international business.  He has successfully
directed and implemented company reorganizations, refinancing programs, company
turnarounds, market development, acquisition and divestiture programs.  Simek
was President of a San Diego public medical electronics manufacturing company
and facilitated in its turnaround and funding.  Simek has over thirty years of
management experience with major multinational companies in the medical,
energy, electronics and aerospace industries.  He has worked for medical
companies such as Baxter and Johnson & Johnson.  He has facilitated raising
capital in public, private and start-up ventures; has identified and
established joint venture transatlantic manufacturing, trading company and
joint licensing programs; plus established and implemented multimillion dollar
project management and manufacturing expansion programs.  Mr. Simek has been
Director and/or Management Advisor for public and private companies in the US
and UK.  He has a BS from Illinois Institute of Technology and MBA from
Pepperdine University.

MR. FARREST LOPER was first elected to the Board of Directors June 1998.
For the past nine years Mr. Loper has been President of Loper & Associates,
a firm providing executive strategic management services to distribution,
manufacturing and service firms, specializing in turnarounds and growth
acceleration. The firm also consults to capital-providing firms, providing
business valuation and due diligence services. Mr. Loper has served as
President and CEO of T-Systems International, Stripping Technologies, and
Ponsor Corporation.  He also held several executive positions in Honeywell,
Inc., which included six years in Cardio-pulmonary instrumentation development.
He served as President of AiResearch Tucson, an AlliedSignal company.
Mr. Loper's education includes an OPM executive program from Harvard Business
School and a Master of Science in Engineering Administration from the
University of South Florida. He has served on non-profit and corporate boards
in the US, Mexico, Europe and Australia.  He is Lead Faculty member for MBA
courses in Strategic Management and Management at the University of Phoenix.
He is a co-founder of the Corporate Governance Institute with San Diego State
University.

ED SIGMOND has been in sales, marketing and operations management for the past
18 years. He has been President of Kestrel Development and, as such, an
entrepreneur, investor and real estate developer in the Dallas, Texas area
since 1994. From 1992 to 1996 Mr. Sigmond was President of American Machine and
Bearing of Dallas, TX. Prior positions included Assistant to President of Alpha
Aviation, Dallas, TX, 1990-1992; Founder and President of Specialty Food
Products, Arlington, TX, 1987-1990; and VP/Regional Manager Geodata
Corporation, Houston, TX 1981-1987. He has varied negotiation, sales marketing,
managerial and operational skills with existing and startup operations.
He studied Marketing and Chemistry at Duquesne University. Mr. Sigmond is the
founder of Kestrel Equity Partners, Ltd., which has invested in Exten
Industries Inc., and Xenogenics Corp.

All Directors serve for a term of one (1) year. There are no family
relationships among directors or executive officers of the Company.


                                    -  6 -
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<PAGE>
                      Item 10.  EXECUTIVE COMPENSATION

     The following table sets forth information concerning the compensation
received for the fiscal years ended November 30, 2000, 1999 and 1998  for
services rendered to the Company in all capacities by the Company's Chief
Executive Officer and any officer or Director with salary over $100,000 per
year.
<TABLE>
                          Annual Cash Compensation         Long Term Compensation
                         ---------------------------  -------------------------------
                                                             Awards           Payouts
                                                      ----------------------  -------
                                                      Restricted  Securities
                                        Other Annual    Stock     Underlying   LTIP      All Other
Name and principal       Salary  Bonus  Compensation   Award(s)    Options/   Payouts   Compensation
position            Year  ($)     ($)        ($)         ($)       SARs (#)     ($)        ($)(1)
----------------------------------------------------------------------------------------------------
<S>                 <C>  <C>     <C>    <C>           <C>         <C>         <C>       <C>
W. Gerald Newmin,   2000   0       0          0           0          15,812      0        $ 48,424
Chairman, CEO,      1999   0       0          0           0            0         0        $ 94,285
Secretary and       1998   0       0          0           0            0         0        $187,351
Director
----------------------------------------------------------------------------------------------------
<FN>
(1)  Represents the fair market value of stock paid in lieu of cash based on
the closing market price on date of approval by the Board of Directors.
</TABLE>
<TABLE>
                    OPTION/SAR grants in Last Fiscal Year
                             (Individual Grants)
<CAPTION>
                                       Percent of
                        Number of      Total Options     Exercise
                        Securities     /SARs             or
                        Underlying     Granted to        Base
                        Options/SARs   Employees         Price       Expiration
     Name               Granted        In fiscal Year    (S/Share)      Date
-------------------------------------------------------------------------------
<S>                     <C>            <C>               <C>         <C>
W. Gerald Newmin, CEO     575,000           100%           $0.21     05/17/2004
-------------------------------------------------------------------------------
</TABLE>
OTHER NON-CASH COMPENSATION

Directors of the Company, who are considered outside consultants, do not
receive cash compensation for their services as directors or members of
committees of the Board of Directors, but may be reimbursed for their
reasonable expenses incurred in connection with attending meetings of the Board
of Directors or management committees.  By resolution of the Board of Directors
in fiscal 2000, Directors Ed Sigmond, Jerry Simek and Farrest Loper were each
granted stock options for 250,000 shares exercisable at $0.21 per share; these
options expire 5/17/04.  Options vest over 4 years, the options were valued at
$.11 per share.


                                    -  7 -
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<PAGE>
   Item 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

     The following table sets forth certain information as to shares of common
stock owned by (i) each person or entity known to beneficially own more than
5% of the outstanding common stock, (ii) each director and named executive
officer of the Company, and (iii) all executive officers and directors of the
Company as a group. Unless otherwise indicated, each person has sole voting and
investment power over the shares beneficially owned by him.  Unless otherwise
indicated, the address of each named beneficial owner is that of the Company's
principal offices located at 9620 Chesapeake Dr., Suite 201, San Diego,
California 92123.
<TABLE>
Name                       Title                Common Shares    % Class (1)
----------------------------------------------------------------------------
<S>                        <C>                  <C>              <C>
W. Gerald Newmin (2)       President, CEO,
                           Chairman & Secretary   12,271,426        16.7%
Jerry G. Simek             Director and COO        2,052,390         2.8%
Farrest Loper              Director                  208,385         0.3%
Ed Sigmond                 Director                  207,500         0.3%
Kestrel Holdings                                   5,000,000         6.8%
----------------------------------------------------------------------------
All Officers and
  Directors as a Group (4 persons)                19,739,701        26.9%
----------------------------------------------------------------------------

<FN>
Footnotes:
(1)  Based on 73,586,502 shares of the Company's Common Stock outstanding as of
February 2, 2001.   Beneficial ownership has been determined in accordance with
Rule 13d-3 of the Securities and Exchange Act of 1934.  Pursuant to the rules
of the Securities and Exchange Commission, shares of Common Stock that each
named person and group has the right to acquire within 60 days pursuant to
options, warrants, conversion privileges or other rights are deemed outstanding
for purposes of computing shares beneficially owned by and the percentage of
ownership of each such person and group. However, such shares are not deemed
outstanding for purposes of computing the shares beneficially owned by, or
percentage of ownership of, any other person or group.

(2)  Mr. Gerald Newmin disclaims beneficial ownership of shares owned by his
wife.
</TABLE>

           Item 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

     Exten entered into a Settlement and Mutual Release Agreement with former
President of Exten, Robert H. Goldsmith, on September 7, 1998.  Under the terms
of this agreement Exten issued 400,000 shares of its Common Stock and agreed to
issue additional shares should the price not achieve certain levels during the
period of December 1, 1998 to January 31, 1999.  Since the price of Exten's
stock did not achieve the agreed-upon price level, Exten has issued an
additional 22,622 shares of Series A Preferred stock to Goldsmith for no
additional consideration. Said preferred shares were converted into 2,262,200
shares of common stock.


                                    -  8 -
-------------------------------------------------------------------------------
<PAGE>
                  Item 13. EXHIBITS AND REPORTS ON FORM 8-K

EXHIBITS
     None

REPORTS ON FORM 8-K
     No reports on Form 8-K were filed during the last quarter of the period
covered by this report.

ADDITIONAL INFORMATION
     For further information with respect to the Company, we refer you to the
quarterly and annual reports that we file with the Securities and Exchange
Commission (the "Commission") as a reporting company under the Securities
Exchange Act. You may inspect these reports, including the exhibits thereto,
without charge, at the Public Reference Room of the Commission at
450 Fifth Street N.W., Washington, D.C. and at the regional offices of the
Commission located at 7 World Trade Center, 13th Floor, New York, New York.
You may obtain copies of these reports from the Public Reference Section of the
Commission at 450 Fifth Street, N.W., Washington, D.C. 20549, upon payment of
the prescribed fees. You may obtain information on the operation of the Public
Reference Room by calling the Commission at 1-800-SEC-0330. You may also access
such material electronically by means of the Commission's home page on the
Internet at http://www.sec.gov.



                                 SIGNATURES

Pursuant to the requirements of Section 13 or 15D 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,


                                                        EXTEN INDUSTRIES, INC.
                                                                  (Registrant)


                                                       By /s/ W. Gerald Newmin
                                                              W. Gerald Newmin
                                                                Chairman & CEO
                                                       Dated 02/19/01



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


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

/s/ W. Gerald Newmin      Chairman ,CEO,
W. Gerald Newmin          and Secretary                              02/19/01

/s/Jerry G. Simek         President, COO                             02/19/01
Jerry G. Simek            and Treasurer

/s/ Farrest Loper         Director                                   02/19/01
Farrest Loper

/s/ Ed Sigmond            Director                                   02/19/01
Ed Sigmond
                                     -  9 -
-------------------------------------------------------------------------------
<PAGE>

                   INDEPENDENT AUDITORS' REPORT


To the Board of Directors and Stockholders
Exten Industries, Inc.
San Diego, California

We have audited the accompanying consolidated balance sheet of Exten
Industries, Inc. and Subsidiary (a development stage company) as of
November 30, 2000 and 1999, and the related consolidated statements of
operations, stockholders' deficiency and cash flows for the years then ended.
These financial statements are the responsibility of the Company's management.
Our responsibility is to express an opinion on these financial statements based
on our audits.

We conducted our audits in accordance with generally accepted auditing
standards.  Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of
material misstatement.  An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements.  An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation.  We believe that our audit of the financial statements
provides 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 Exten Industries, Inc. and
Subsidiary as of November 30, 2000 and 1999, and the results of its operations
and cash flows for the years then ended in conformity with generally accepted
accounting principles.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern.  As discussed in Note 3 to the
consolidated financial statements, the Company has sustained recurring losses
and negative cash flows for several years and had a stockholders' capital
deficiency as of November 30, 2000.  These conditions raise substantial doubt
about the Company's ability to continue as a going concern.  Management's plans
in regard to these matters are also described in Note 3 to the consolidated
financial statements.  The consolidated financial statements do not include any
adjustments relating to the recoverability and classification of reported asset
amounts and classification of liabilities that might result from the outcome of
this uncertainty.


Hutchinson and Bloodgood, LLP
San Diego, California
February 1, 2001


                                   - F  1 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)
<TABLE>
                          Consolidated Balance Sheets

<CAPTION>
===============================================================================
November 30,                                        2000               1999
-------------------------------------------------------------------------------
<S>                                           <C>               <C>
ASSETS

Current assets
  Cash                                        $     539,103     $         228
  Prepaid research                                   50,000            81,863
  Notes receivable                                  132,500              -
-------------------------------------------------------------------------------
        Total current assets                        721,603            82,091

Real estate held for sale                            47,200            47,200
Patent costs and other intangibles                   46,605            40,737
Equipment, net of accumulated depreciation            1,222             1,284
-------------------------------------------------------------------------------

     Total assets                             $     816,630     $     171,312
===============================================================================

LIABILITIES AND  STOCKHOLDERS' DEFICIENCY

Current liabilities
  Accounts payable                            $      13,411     $      83,574
  Accrued expenses                                  144,216            68,822

  Accrued expenses to be satisfied
    by the issuance of common stock                    -              470,450
  Advances from officer                                -               66,078
  Notes payable                                     509,460            77,590
-------------------------------------------------------------------------------
     Total current liabilities                      667,087           766,514

Noncurrent notes payable                               -              403,545
-------------------------------------------------------------------------------

     Total liabilities                              667,087         1,170,059
-------------------------------------------------------------------------------

Minority interest in subsidiary                     158,581             1,153

<FN>
           See accompanying notes and Independent Auditors' report
</TABLE>


                                   - F  2 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)
<TABLE>
                          Consolidated Balance Sheets

<CAPTION>
===============================================================================
November 30,                                        2000               1999
-------------------------------------------------------------------------------
<S>                                           <C>               <C>
Stockholders' deficiency
  Preferred convertible stock, series H,
     par value $.01, 5,000,000 shares
     authorized, 0 and 22,622 shares
     issued and outstanding.                           -                  226
  Common stock, par value $.01,
     200,000,000 and 50,000,000 shares,
     authorized, 73,586,502 and
     49,501,019 shares issued and outstanding.      735,865           495,010
  Additional paid in capital                     11,409,980         9,916,080
  Common stock subscribed and unissued
        -0- and 498,981 shares                         -                4,989
   Stock subscriptions receivable                   (81,500)             -
  Deferred compensation costs                       (16,500)             -
  Deficit accumulated prior to the
     development stage                          (10,084,284)      (10,084,284)
  Deficit accumulated during the
     development stage                           (1,972,599)       (1,331,921)
-------------------------------------------------------------------------------

     Total stockholders' deficiency                  (9,038)         (999,900)
-------------------------------------------------------------------------------

  Total liabilities and stockholders'
    deficiency                                $     816,630     $     171,312
===============================================================================

<FN>
           See accompanying notes and Independent Auditors' report
</TABLE>


                                   - F  3 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)
<TABLE>
                     Consolidated Statements of Operations

<CAPTION>
==================================================================================================
                                                                    Period from February 28, 1997
                                                                   (inception of development stage)
                                                                         to November 30, 2000
Years ended November 30,                     2000          1999               (unaudited)
--------------------------------------------------------------------------------------------------
<S>                                      <C>           <C>         <C>
Operating expenses
  General and administrative                 559,796       330,514              1,906,772
  Research and development                   184,672       145,940                356,921
  Depreciation                                   389           367                 24,414
--------------------------------------------------------------------------------------------------

     Total operating expenses                744,857       476,821              2,288,107
--------------------------------------------------------------------------------------------------

Loss from operations                        (744,857)     (476,821)            (2,288,107)
--------------------------------------------------------------------------------------------------

Other income (expense)
Interest expense                             (21,258)      (46,345)              (119,766)
Interest income                               12,327          -                    12,327
Minority interest in loss of subsidiary      113,110         8,602                121,712
--------------------------------------------------------------------------------------------------

Total other income (expense)                 104,179       (37,743)                14,273
--------------------------------------------------------------------------------------------------

Net loss before extraordinary item          (640,678)     (514,564)            (2,273,834)

Net gain (loss) on extinguishments
     of debt     -                              -             -                   302,380
--------------------------------------------------------------------------------------------------

Net loss                                 $  (640,678)  $  (514,564)           $(1,971,454)
==================================================================================================

Loss per share                           $    (0.01)   $    (0.01)            $    (0.04)
Average number of shares outstanding      61,125,011    49,405,073             54,438,370

<FN>
           See accompanying notes and Independent Auditors' report
</TABLE>


                                   - F  4 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)
<TABLE>
             Consolidated Statements of Stockholders' Deficiency

<CAPTION>
===============================================================================================================================
                                             Series H
                                 Common     Convertible               Common                          Total
                                 Stock       Preferred                 stock         Deferred      Accumulated    Stockholders'
                                 Shares       Shares       Amount    subscribed    Compensation      deficit       deficiency
-------------------------------------------------------------------------------------------------------------------------------
<S>                            <C>          <C>         <C>          <C>          <C>              <C>            <C>
Balance at February 28, 1997
  inception of development
  stage                        29,968,382        -      $ 9,207,400       -               -        $(10,084,284)  $(876,884)

  Issuance of stock for cash      120,000        -            6,000       -               -                -          6,000
  Issuance of stock for
     services                   3,798,038        -           93,949       -               -                -         93,949
  Issuance of stock for
     settlement of accounts
     payable                      750,000        -           30,000       -               -                -         30,000
  Issuance of stock to
     officer unpaid at end
     of year                    2,500,222        -          140,040   (140,040)           -                -           -
  Net loss                           -           -             -          -               -              (4,535)     (4,535)
-------------------------------------------------------------------------------------------------------------------------------

Balance at November 30, 1997   37,136,642        -        9,477,389   (140,040)           -         (10,088,819)   (751,470)

  Issuance of stock for
     cash, net                    625,000        -           25,000       -               -                -         25,000
  Issuance of stock for
     services                  10,040,027        -          511,177       -               -                -        511,177
  Issuance of stock for
     settlement of accounts
     payable                       48,000        -            2,880       -               -                -          2,880
  Issuance of stock for
     settlement of notes
     payable                      500,000        -           30,000       -               -                -         30,000
  Effect of issuance of stock
     by subsidiary for
     consideration in excess
     of underlying book value        -           -           49,137       -               -                -         49,137
  Services provided by
     officer to extinguish
     receivable from sale
     of stock                        -           -             -       140,040            -                -        140,040
  Stock subscribed                   -           -           37,125     16,502            -                -         53,627
  Net loss                           -           -             -          -               -            (811,677)   (811,677)
-------------------------------------------------------------------------------------------------------------------------------

Balance at November 30, 1998   48,349,669        -       10,132,708     16,502            -        $(10,900,496)  $(751,286)

  Issuance of stock for
     legal settlement                -         22,622       176,000       -               -                -        176,000
  Issuance of stock
     subscribed                 1,151,350        -           11,513    (11,513)           -                -           -
  Effect of issuance of
     stock by subsidiary
     for consideration in
     excess of underlying
     book value                      -           -           91,095       -               -                -         91,095
  Dividend paid to preferred
     minority shareholders           -           -             -          -               -              (1,145)     (1,145)
     Net loss                        -           -             -          -               -            (514,564)   (514,564)
-------------------------------------------------------------------------------------------------------------------------------
Balance at November 30, 1999   49,501,019      22,622   $10,411,316   $  4,989            -        $(11,416,205)  $(999,900)
===============================================================================================================================

<FN>
           See accompanying notes and Independent Auditors' report
</TABLE>


                                   - F  5 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)
<TABLE>
             Consolidated Statements of Stockholders' Deficiency

<CAPTION>
===============================================================================================================================
                                             Series H
                                 Common     Convertible               Common                          Total
                                 Stock       Preferred                 stock         Deferred      Accumulated    Stockholders'
                                 Shares       Shares       Amount    subscribed    Compensation      deficit       deficiency
-------------------------------------------------------------------------------------------------------------------------------
<S>                            <C>          <C>         <C>          <C>          <C>              <C>            <C>
Balance at November 30, 1999   49,501,019      22,622    10,411,316      4,989            -        $(11,416,205)  $(999,900)

  Issuance of stock
     Subscribed                      -           -            4,989     (4,989)           -                -           -
  Exercise of stock options
    unpaid at year end            837,500        -           81,500    (81,500)           -                -           -
  Issuance of stock
     For cash                   5,000,000        -           50,000       -               -                -         50,000
  Exercise of stock options       800,000        -           48,000       -               -                -         48,000
  Issuance of stock for
     services                   1,994,079        -          269,639       -               -                -        269,639
  Issuance of stock options
  To scientific advisory board       -           -           16,500       -            (16,500)            -           -
  Issuance of stock warrants         -           -            2,112       -               -                -          2,112
  Issuance of stock for
     settlement of accounts
     payable and accrued
     expenses                  10,361,435        -          491,214       -               -                -        491,214
  Issuance of stock for
     settlement of officer
     advances                   2,718,469        -           81,554       -               -                -         81,554
  Issuance of stock for
     settlement of notes
     payable                      112,000        -            3,000       -               -                -          3,000
  Effect of issuance of
     stock by subsidiary
     for consideration in
     excess of underlying
     book value                      -           -          686,021       -               -                -        686,021
  Conversion of preferred
     Shares to common           2,262,000     (22,622)         -          -               -                -           -
     Net loss                        -           -             -          -               -            (640,678)   (640,678)
-------------------------------------------------------------------------------------------------------------------------------
Balance at November 30, 2000   73,586,502        -      $12,145,845   $(81,500)       $(16,500)    $(12,056,883)  $  (9,038)
===============================================================================================================================

<FN>
           See accompanying notes and Independent Auditors' report
</TABLE>


                                   - F  6 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)
<TABLE>
                     Consolidated Statements of Cash Flows

<CAPTION>
========================================================================================================
                                                                                Period from inception of
                                                                                  development stage to
                                                                                    November 30, 2000
Years ended November 30,                                 2000            1999          (unaudited)
--------------------------------------------------------------------------------------------------------
<S>                                                   <C>             <C>       <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net loss                                            $(640,678)      $(514,564)      $(1,971,454)
  Adjustments to reconcile net loss to
     net cash used by operating activities:
  Minority interest in loss of subsidiary              (113,110)         (8,602)         (121,713)
  Minority stock issued for interest                     12,493            -               12,493
  Common stock issued for services                      269,639            -              984,548
  Note issued for compensation                             -               -               15,133
  Depreciation and amortization                             389             367            24,414
  Gain (loss) on extinguishments of debt                   -               -             (302,380)
  (Increase) decrease other current assets               31,863         (81,863)          (33,333)
  Increase (decrease) accounts payable                  (49,396)         18,704           (70,392)
  Increase (decrease) accrued expenses                   75,394         419,006           655,859
--------------------------------------------------------------------------------------------------------
    Net cash used by operating activities              (413,406)       (166,952)         (806,825)
--------------------------------------------------------------------------------------------------------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Patent costs                                           (5,868)         (2,070)          (46,605)
  Note receivable                                      (150,000)           -             (150,000)
  Purchase of property and equipment                       (327)           -               (2,160)
--------------------------------------------------------------------------------------------------------
    Net cash used by investing activities              (156,195)         (2,070)         (198,765)
--------------------------------------------------------------------------------------------------------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Proceeds from notes and loans payable                 500,000          28,000           740,500
  Payments of notes and loans payable                    (5,000)           -              (55,000)
  Proceeds from sale of stock                            50,000            -               81,000
  Proceeds from exercised options                        48,000            -               48,000
  Proceeds from sale of stock by subsidiary             500,000          99,996           632,395
  Advances from officer                                  15,476          28,089            81,554
  Dividends paid-subsidiary preferred stock                -             (1,145)           (1,145)
  Proceeds from subscriptions for purchase of
     common stock of subsidiary                            -               -               17,601

<FN>
           See accompanying notes and Independent Auditors' report
</TABLE>


                                   - F  7 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)
<TABLE>
                     Consolidated Statements of Cash Flows

<CAPTION>
========================================================================================================
                                                                                Period from inception of
                                                                                  development stage to
                                                                                    November 30, 2000
Years ended November 30,                                 2000            1999          (unaudited)
--------------------------------------------------------------------------------------------------------
<S>                                                   <C>             <C>       <C>
    Net cash provided by financing activities         1,108,476         154,940         1,544,905
--------------------------------------------------------------------------------------------------------
Net increase (decrease) in cash                         538,875         (14,082)          539,315
Cash at beginning of period                                 228          14,310              (212)
--------------------------------------------------------------------------------------------------------
Cash at end of period                                 $ 539,103       $     228       $   539,103
========================================================================================================

Supplemental disclosures:

  Interest paid                                       $  30,031       $   5,940       $    61,216

Noncash transactions
  Issuance of stock for legal settlement              $    -          $ 176,000       $   176,000
  Issuance of stock for debt                          $   3,000       $    -          $   173,040
  Issuance of minority stock for debt                 $ 444,063       $    -          $   444,063
  Settlement of officer advances for stock            $  81,554       $    -          $    81,554
  Settlement of accounts payable and
   accrued expenses for stock                         $ 491,214       $    -          $   524,094
  Note payable issued for accrued liabilities         $    -          $  20,000       $    20,000
  Note payable increased by accrued interest          $    -          $  30,518       $    30,518
  Stock subscribed for accrued expenses
   to be satisfied by the issuance of stock           $    -          $  18,961       $    18,916
Issuance of stock warrants                            $   2,112       $    -          $     2,112
Assignment of Lexicor stock warrants                  $  17,500       $    -          $    17,500

<FN>
           See accompanying notes and Independent Auditors' report
</TABLE>


                                   - F  8 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)

                  Notes to Consolidated Financial Statements
                    Years ended November 30, 2000 and 1999


1.   ORGANIZATION AND OPERATIONS

ORGANIZATION

Exten Industries, Inc. (Exten) is a holding company that is in the business of
developing, through its subsidiary, Xenogenics Corporation (Xenogenics), a
synthetic bio-liver ("SYBIOL") technology.  Xenogenics was incorporated in
February 1997 when Exten had written off the majority of its other holding
investments and started focusing on the research and development of the
SYBIOL(R) technology.  Exten and its subsidiary (together the "Company"),
therefore reentered the development stage with the formation of Xenogenics
Corporation.

OPERATIONS

Since inception of the development stage, the Company has been engaged in
research and development, organizational activities, and obtaining financing.
Through November 30, 2000, the Company has incurred development stage losses of
$1,971,454.  The technology was developed by Cedars Sinai Medical Center.  The
Company acquired all rights to the SYBIOL(R) technology in 1993 and has applied
for trademark protection for the SYBIOL(R) trade name.  In addition, the rights
to the technology on the process utilized by the Company's SYBIOL(R) device
were pending approval of the patent application as of November 30, 2000.


2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF CONSOLIDATION

The consolidated financial statements include the accounts of Exten and its
subsidiary (together the "Company").  All significant intercompany balances and
transactions have been eliminated in consolidation.  As of November 2000 and
1999, Exten owned 61.65% and 93.6% of the subsidiary respectively.

CASH AND CASH EQUIVALENTS

For purposes of the statement of cash flows, the Company considers all short-
term debt securities purchased with a maturity of three months or less to be
cash equivalents.

USE OF ESTIMATES

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


                                   - F  9 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)

                  Notes to Consolidated Financial Statements
                    Years ended November 30, 2000 and 1999


IMPAIRMENT OF LONG-LIVED ASSETS

In accordance with Statement of Financial Accounting Standards No. 121,
Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to
be Disposed of ("SFAS 121 "), impairment losses on real estate and other long-
lived assets are recognized when events or changes in circumstances indicate
that the undiscounted cash flows estimated to be generated by such assets are
less than their carrying value and, accordingly, all or a portion of such
carrying value may not be recoverable.  Impairment losses are then measured by
comparing the fair value of assets to their carrying amounts.

The Company's real estate held for sale was determined to be impaired prior to
1996 and, accordingly, it is stated at fair value, in accordance with SFAS 121,
based upon management's estimate of the amount that will be recovered from the
ultimate disposition of the real estate.

PATENT COSTS

Direct patent application costs are recorded at cost and will be amortized over
the estimated useful life using the straight-line method once the patent is
finalized.  Each patent will be continually evaluated by management to
determine if its carrying value will be realized based upon the estimated
discounted cash flow expected from the patent.  Additional amortization will be
recognized in a period a decline in value is identified.  Because the patent is
still pending amortization has not yet commenced.

EQUIPMENT

Property and equipment are stated at cost and depreciated over the estimated
useful lives of the assets (one to five years) using the straight-line method.

INCOME TAXES

Deferred income taxes are provided for the estimated tax effects of timing
differences between income for tax and financial reporting.  A valuation
allowance is provided against deferred tax assets, where realization is
uncertain.  The income tax provision or credit is the tax payable or refundable
for the period plus or minus the change during the period in deferred tax
assets and liabilities.

STOCK OPTION PLAN

The Company elected to use the intrinsic value based method of Accounting
Principles Board Opinion No. 25 as allowed under Statement of Financial
Accounting Standards No. 123, "Accounting for Stock-Based Compensation"
(SFAS No. 123) to account for its employees, officers, and directors stock-
based compensation plan.  The Company uses the fair value based method to
account for options granted to outside consultants.

CONCENTRATION OF CREDIT RISK

The Company maintains cash balances in one financial institution in San Diego,
California.  The Federal Deposit Insurance Corporation insures the balances up
to $100,000.  At November 30, 2000, the Company's uninsured cash balances
totaled $439,103.


                                   - F 10 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)

                  Notes to Consolidated Financial Statements
                    Years ended November 30, 2000 and 1999


EARNINGS (LOSS) PER SHARE

Effective November 30, 1998, the Company adopted the provisions of Statement of
Financial Accounting Standards No. 128, Earnings per Share ("SFAS 128"), which
replaced the presentation of "primary" and "fully-diluted" earnings (loss) per
common share required under previously promulgated accounting standards with
the presentation of "basic" and "diluted" earnings (loss) per common share.

Basic earnings (loss) per common share is calculated by dividing net income or
loss by the weighted average number of common shares outstanding during the
period.  The calculation of diluted earnings (loss) per common share is similar
to that of basic earnings (loss) per common share, except that the numerator
and denominator are adjusted to reflect the decrease in earnings per share or
the increase in loss per share that could occur if securities or other
contracts to issue common stock, such as stock options and convertible notes,
were exercised or converted into common stock that then shared in the Company's
earnings or loss.

The Company was required to compute primary and diluted loss per share amounts
for 2000 and 1999 pursuant to SFAS 128.  Since the Company and its subsidiary
had losses applicable to common stock in 2000 and 1999, the assumed effects of
the exercise of outstanding stock options,  warrants, and conversion of notes
were anti-dilutive and, accordingly, dilutive per share amounts have not been
presented in the accompanying consolidated statements of operations.
Securities which could  potentially dilute basic EPS in the future are as
follows:

               Type of Security               No. of shares
               ----------------               -------------
               Stock options                    2,665,000
               Stock warrants                     500,000
                                                ---------
                                                3,165,000
                                                ---------

OTHER RECENT ACCOUNTING PRONOUNCEMENTS:

In June 1997, the FASB issued Statements of Financial Accounting Standards
No. 130, "Reporting Comprehensive Income," ("SFAS 130") and No.131,
"Disclosures about Segments of an Enterprise and Related Information,"
("SFAS 131") which could require the Company to make additional disclosures in
its financial statements no later than for the fiscal year ending
November 30, 1999. SFAS 130 defines comprehensive income, which includes items
in addition to those reported in the statement of operations and requires
disclosures about its components. SFAS 131 requires disclosures for each
segment of a business and the determination of segments based on its internal
management structure. The adoption of SFAS 130 and SFAS 131 did not have a
material impact on the Company's disclosures.


                                   - F 11 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)

                  Notes to Consolidated Financial Statements
                    Years ended November 30, 2000 and 1999


In December 2000, the Financial Accounting Standards Board issued Statement of
Financial Accounting Standard ("SFAS) No. 140, "Accounting for Transfers and
Servicing of Financial Assets and Extinguishments of Liabilities.  SFAS
No. 140 revises the standards for accounting for securitizations and other
transfers of financial assets and collateral and requires certain disclosures,
but it carries over most of Statement 125's provisions without consideration.
SFAS No. 140 is effective for transfers and servicing of financial assets and
extinguishments of liabilities occurring after March 31, 2001. We do not expect
that the adoption of SFAS No.140 will have a material impact on our financial
statements.


3.   GOING CONCERN MATTERS

The Company has incurred net losses for several years, including net losses of
$640,678 in 2000 and $514,564 in 1999.  Management does not expect the Company
to generate significant revenues in the near future.

In order to continue as a going concern, develop and commercialize its
technology and, ultimately, achieve a profitable level of operations, the
Company will need, among other things, additional capital resources.
Management's plans to obtain such resources for the Company include
(1) obtaining a $15,000,000 equity credit line through the issuance of common
stock  (2) Merging with MediQuip International which generates revenues of
$7,000,000 per year and using profits to cover the Company's operating needs,
(3) Sales of shares of the Company's common stock to and through Kestrel Equity
Partners Ltd., is expected to provide another $500,000 to be released to the
Company in 2001, and (4) continuing to use common stock to pay for consulting
and professional services.  In addition, management is continually seeking
other potential joint venture partners or merger candidates that would provide
financial, technical and/or marketing resources to enable the Company to
realize the potential value of its technology.  There can be no assurances that
the Company will be successful in obtaining any additional financing, including
the equity line, or in otherwise completing any joint venture, alliance,
merger, or other transaction or, if the Company is successful in completing any
such transaction, that it can be completed on terms that are reasonable in view
of the Company's current circumstances.

The ability of the Company to continue as a going concern is dependent upon its
ability to successfully accomplish the plans described in the preceding
paragraph and eventually secure other sources of financing and attain
profitable operations.  The accompanying consolidated financial statements do
not include any adjustments that might be necessary should the Company be
unable to continue as a going concern.


                                   - F 12 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)

                  Notes to Consolidated Financial Statements
                    Years ended November 30, 2000 and 1999


4.   REAL ESTATE HELD FOR SALE

Real estate held for sale as of November 30, 2000 consisted of a parcel of
undeveloped land near the Grand Canyon.  The land was originally purchased in
February 1992 for $1,654,000 and written down to its estimated fair market
value of $47,200 in 1995.   The Company is currently in arrears on back taxes
and interest in the amount of $47,070.  Tax sale for back taxes is pending and
as management has been unable to obtain an appraisal of the fair market value
of the land, they have not yet decided whether to pay the back taxes.


5.   EQUIPMENT, NET OF ACCUMULATED DEPRECIATION

Equipment, net of accumulated depreciation consists of the following:

November 30,                                  2000                  1999
===============================================================================

Computer equipment                          $  2,161              $  1,834
Less accumulated depreciation                   (939)                 (550)
-------------------------------------------------------------------------------
                                            $  1,222              $  1,284
===============================================================================


6.  NOTES RECEIVABLE

As of November 30, 2000,  in connection with a letter of intent to purchase
100% of the outstanding common stock of Lexicor Medical Technology, as further
described in Note 13,  the Company advanced $150,000 of a total commitment of
$500,000 for a note and warrants.  The Company allocated $17,500 to the
warrants resulting in a discount on the note.  The note bears interest at
10% per annum.  Principal and interest is due and payable on May 31, 2001.
In the event of default, Lexicor must issue common shares to the Company equal
to  51 percent of the issued and outstanding shares of Lexicor.  The warrants
entitle the Company to purchase up to 83,333 shares of Lexicor's common stock.
Unpaid principal and accrued interest on this note may be converted at any time
until paid in full into 83,333 shares of Maker's common stock at a price equal
to $6.00 per share.


7.   ADVANCES FROM OFFICER

An officer of the Company incurred expenses on behalf of the Company and agreed
to defer payment.  Advances from the officer were due on demand and accrue
interest at the Wall Street Journal prime rate.  During 2000, the balance of
$81,554 was converted into 2,718,469 shares of common stock at .03 cents a
share.


                                   - F 13 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)

                  Notes to Consolidated Financial Statements
                    Years ended November 30, 2000 and 1999


8.   NOTES PAYABLE
<TABLE>
Notes payable consisted of the following:
<CAPTION>
November 30,                                          2000              1999
===============================================================================
<S>                                                 <C>               <C>
NOTE PAYABLE TO RELATED PARTIES:

Note payable to minority shareholder, with
interest at the prime rate, 8.25% at
November 30, 1999, due on April 6, 2001. (c)(e)     $   -             $195,000

Note payable to related party, with interest
at the prime rate, 8.25% at November 30, 1999,
due on October 28, 1999. (c)                            -               25,000

Note payable to related party, with interest
at the prime rate, 8.25% at November 30, 1999,
due on January 5, 2001. (c)                             -               25,000

Note payable to officer, with interest at the
prime rate, 8.25% at November 30, 1999, due on
June 1, 2001. (b)(c)(e)                                 -              199,063

Note payable to officer, with interest at 12%,
due on March 31, 2000. (c)                              -                3,000


NOTES PAYABLE TO UNRELATED PARTIES:

Note payable with interest at 10%, due on
April 17, 2001. (d)                                   10,000            15,000

Note payable with interest at 8%, due on
November 10, 2000. (a)(d)                             15,000            15,000

Note payable with interest only at 10%
payable quarterly beginning 2/28/01,
due on May 31, 2001. (f)                             480,388              -

Note payable to attorneys for
professional fees.                                     4,072             4,072


TOTAL                                                509,460           481,135
Less current portion                                (509,460)          (77,590)
-------------------------------------------------------------------------------

Non-current portion                                 $   -             $403,545
===============================================================================

<FN>
a)   In default at November 30, 2000.
b)   Interest on loans to related parties totaled $4,246 and $16,250 in 2000
     and 1999, respectively.
c)   Converted into common shares of Xenogenics at $1.00 per share during
     March 2000.
d)   Convertible into common shares of Xenogenics at $1.875 per share.
e)   Collateralized by security interest in patents, trademarks, technology,
     and assets until released.
f)   The face amount of the note is $500,000.  In connection with the note the
     Company assigned its Lexicor stock warrants to the creditor; $17,500 was
     the value assigned to the warrants, which resulted in a discount on note.
     In addition the Company issued a warrant to purchase 500,000 shares of the
     Company's own stock at a price of $.13 per share; $2,112 was the value of
     this warrant resulting in an additional discount on the note. See Note 9
     for additional contingent share penalty provisions related to the note.
</TABLE>


                                   - F 14 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)

                  Notes to Consolidated Financial Statements
                    Years ended November 30, 2000 and 1999


9.  STOCKHOLDERS' DEFICIENCY

NON-CASH STOCK ISSUANCES

During 2000, the Company issued shares of common stock, which were valued at
their fair market value at the date of Board approval, in the following non-
cash transactions:

          1,994,079 shares, valued at $269,639 were issued for
          consulting services and directors' fees.

          10,361,435 shares, valued at $491,214 were issued for
          accrued expenses.

          2,718,469 shares, valued at $81,554 were exchanged for
          advances due an officer.

          112,000 shares, valued at $3,000 were exchanged for
          officer indebtedness.

          In November 2000, stock options for 837,500 shares
          were exercised at $81,500 but not yet paid for at year end.

          In June 2000, 22,622 shares of series H convertible
          preferred shares were converted into 2,262,000 shares
          of common stock.

AUTHORIZED SHARES

During 2000, the board approved an increase in authorized shares from
50,000,000 to 200,000,000 shares.


                                   - F 15 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)

                  Notes to Consolidated Financial Statements
                    Years ended November 30, 2000 and 1999


STOCK COMPENSATION PLANS

Effective February 15, 2000, the Company adopted a 2000 Stock Incentive Plan
and a 2000 Employee Benefit Plan which authorize the granting of stock and
options to employees, outside directors, consultants, and vendors etc.  Under
the Plans, awards are made in the form of restricted shares or options (which
may constitute incentive stock options or nonstatutory stock options).  Only
common law employees of the Company are eligible for the grant of incentive
stock options.

The total number of Options and Restricted Shares that can be awarded under the
2000 Stock Incentive Plan is 5,000,000.  As of the first day of each calendar
year commencing January 1, 2001, this total will automatically increase by the
lesser of 2% of the total number of common shares then outstanding or 500,000.
Currently, options for 2,025,000 shares of common stock have been issued under
this plan.   The option price, number of shares, grant date, and vesting period
are determined at the discretion of the Company's Board of Directors.  The
exercise price of each ISO granted under the plan must equal 100% of the market
price of the Company's stock on the date of grant.  The exercise price of each
NSO granted under the plan cannot be less than 85% of the market price of the
Company's stock on the date of grant.  An option's maximum term is 10 years.

Under the 2000 Employee Benefit Plan, one or more Performance Awards may be
granted to any eligible person providing services to or for the Company.  The
value of such awards may be linked to the market value, book value or other
measure of the value of the common stock or other specific performance criteria
determined appropriate by the Board of Directors or Committee.  The Board or
Committee may approve stock payments to eligible persons who elect to receive
such payments in the manner determined by the Board or the Committee.  The
total number of shares that can be awarded under the 2000 Employee Benefit Plan
is 35,000,000.  Federal, state or local taxes that are subject to the
withholding tax at the source will be withheld by the Company as required by
applicable law.  The Company is entitled to require deduction from other
compensation for these taxes or in the alternative may require the participant
to advance such sums or if the participant elects the Company may withhold (or
require the return of) shares having the fair market value equal to the sums
required to be withheld.  This election is subject to the Board's disapproval.

Prior to 2000, The Company had a Stock option plan authorizing the granting of
stock options to various individuals, officers and directors of the Company in
return for various services rendered to the Company.  Stock options issued
under the plan have terms of up to 10 years.  The exercise price of the options
is $.10 per share.

Since the Company has adopted the disclosure-only provisions of SFAS No. 123
and the exercise price of all of the options granted in 2000 was equal to or
greater than fair value, no earned or unearned compensation cost was recognized
in the accompanying consolidated financial statements for stock options granted
by the Company or its subsidiary  to officers and directors.  Unearned
compensation in the amount of $16,500 was recognized for stock options granted
to scientific advisory board members.


                                   - F 16 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)

                  Notes to Consolidated Financial Statements
                    Years ended November 30, 2000 and 1999


Pro forma information regarding net loss is required by SFAS 123, and has been
determined as if the Company had accounted for its employee stock options under
the fair value method of that statement.  The fair value of each option grant
is estimated on the grant date using the Black Scholes option-pricing model.
The weighted-average assumptions used for grants in 2000 were: risk free
interest rate of 6.5%, dividend yield of 0%, volatility factor of 211% and
expected lives of 4 years.
 .
                                                     2000             1999
                                                  ----------       ----------
Net loss as reported                              $ (640,678)      $ (514,564)
Pro forma net loss under SFAS No. 123             $ (693,572)      $ (518,084)
Basic loss per share as reported                  $    (.01)       $    (.01)
Pro forma net loss per share under SFAS No. 123   $    (.01)       $    (.01)

Changes during the years ended November 30, 2000 and 1999 in common stock
options outstanding for the Company were as follows:

<TABLE>
                                                     2000                    1999
=========================================================================================
                                                         Weighted                Weighted
                                                          average                 average
                                                         exercise                exercise
                                              Shares       price      Shares       price
=========================================================================================
<S>                                         <C>          <C>        <C>          <C>
Options outstanding at beginning of year     2,277,500     $.14      2,277,500     $.14
Granted                                      2,025,000     $.21           -        $  -
Exercised                                   (1,637,500)    $.08           -        $  -
=========================================================================================
Options outstanding at end of year           2,665,000     $.17      2,277,500     $.14
=========================================================================================
Exercisable at end of year                     600,000               2,164,167
=========================================================================================

Weighted average fair value of options
Granted during the year                                    $.11
=========================================================================================
</TABLE>


                                   - F 17 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)

                  Notes to Consolidated Financial Statements
                    Years ended November 30, 2000 and 1999

<TABLE>
The following table summarizes information about stock options outstanding at
November 30, 2000 and 1999, all of which are at fixed prices:

<CAPTION>
                                  Weighted
                   Number          Average        Weighted         Number
 Range of        Outstanding      Remaining        Average       Exercisable
 Exercise            at          Contractual      Exercise           at
  Prices          11/30/00          Life            Price         11/30/00
============================================================================
<S>             <C>              <C>             <C>             <C>
$.10 to .50         640,000          1.8             .29            600,000
   $.21           2,025,000          3.6             .21                  0
----------------------------------------------------------------------------
                  2,665,000                                         600,000
============================================================================
</TABLE>
<TABLE>
                                  Weighted
                   Number          Average        Weighted         Number
 Range of        Outstanding      Remaining        Average       Exercisable
 Exercise            at          Contractual      Exercise           at
  Prices          11/30/99          Life            Price         11/30/99
============================================================================
<S>             <C>              <C>             <C>             <C>
$.04 to .50       2,277,500          2.2             .14          2,164,167
----------------------------------------------------------------------------
                  2,277,500                                       2,164,167
============================================================================
</TABLE>
CONTINGENT ISSUANCE OF COMMON STOCK

In connection with a $500,000 note payable, described in Note 8, upon the
occurrence of an event of default the Company must issue to the payee shares of
common stock having an aggregate fair market value equal to the outstanding
unpaid principal balance, and any unpaid interest on the Note.  If the
aggregate fair market value of the shares falls below the amount due at the
time of the sale of the shares by the payee, the Company will issue additional
shares of common stock having an aggregate fair market value equal to the
difference between the amount due and the aggregate fair market value of the
shares at the time of sale.  At such time as the Holder is able to commence
selling the shares either pursuant to an effective registration statement or
under Rule 144, if the average closing bid price of the Company's common stock
during the 20 trading days immediately following the commencement date is equal
to or greater than the closing bid price of the common stock on the date used
to determine how many shares should be issued, the Company's Obligation shall
be deemed satisfied in full and no additional shares of common stock will be
issued.  The Company has granted the payee piggyback registration rights with
respect to the shares.

The Company, if over 10 days late with any payment of interest and/or
principal, agrees to pay a late charge equal to 10% of the unpaid amount.
In addition, for each month following the due date (up to a maximum of six
months) that the Note has not been fully paid in cash, the Company agrees to
issue shares of its common stock having an aggregate fair market value equal to
$50,000 plus the amount of any additional unpaid interest.  Each such issuance
does not reduce the amount of the Note, the interest, or the late charges that
are due.


                                   - F 18 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)

                  Notes to Consolidated Financial Statements
                    Years ended November 30, 2000 and 1999


In the event a registration statement between Exten Industries and Lexicor
Medical Technology is not effective within six months of the default date of
the note, Exten agrees to issue additional shares of its common stock having an
aggregate fair market value equal to $250,000 plus the amount of any additional
accrued but unpaid interest on the outstanding principal balance of this note.

Based upon a share price of $.12 per share at February 1, 2001,
5,833,333 shares would be issuable in the event of a default in paying
principal and interest.

COMMON STOCK OF SUBSIDIARY

During 2000, Xenogenics issued 913,000 additional shares of common stock in
exchange for $956,560 of cash and, repayment of notes, and conversion of
preferred shares. The proceeds exceeded Exten's proportionate interest in
Xenogenics by $686,021, which the Company recorded as an increase in additional
paid-in capital, and the balance of $270,539 was recorded as an increase in
minority interest. Including the preferred shares, Exten owned 61.65% of
Xenogenics at November 30, 2000.

PREFERRED STOCK OF SUBSIDIARY

During 2000, all 16,667 preferred shares including accumulated dividends of
$6,448 were renegotiated and converted into 106,448 shares of common stock.

During 1999, Xenogenics issued 16,667 shares of series A convertible limited
term preferred stock for total proceeds of $99,996.  The shares were
convertible into 83,335 shares of Xenogenics common stock.  The proceeds of the
sale exceeded Exten's proportionate interest in Xenogenics by $91,095, which
the Company recorded as an increase in additional paid-in-capital and the
balance of $ 8,901 was recorded as an increase in minority interest. Including
preferred shares Exten owned 93.6% of Xenogenics at November 30, 1999.
Xenogenics preferred shares called for monthly dividends of 7% per annum.
During 1999 $1,145 was paid.

STOCK OPTIONS OF SUBSIDIARY

During 1997 and 1999, the Company's subsidiary, Xenogenics, granted options to
acquire 494,063 shares of its common stock at $1.00 per share to various
individuals, officers and directors of Xenogenics in connection with the issue
of notes and in return for services rendered. A summary of the status of the
Company's stock option plan as of November 30, 2000 and 1999 and the changes
during the years ending November 30, 2000 and 1999 is presented below:


                                   - F 19 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)

                  Notes to Consolidated Financial Statements
                    Years ended November 30, 2000 and 1999


<TABLE>
                                                     2000                    1999
=========================================================================================
                                                         Weighted                Weighted
                                                          average                 average
                                                         exercise                exercise
                                              Shares       price      Shares       price
=========================================================================================
<S>                                         <C>          <C>        <C>          <C>
                                            ----------   --------   ----------   --------
Options outstanding at beginning of year       494,063     $1.00       407,500     $1.00
Options granted                                 12,493     $1.00        86,563     $1.00
Options forfeited                              (50,000)    $1.00          -        $1.00
Options exercised                             (245,000)    $1.00          -          -
=========================================================================================
Options outstanding at end of year             211,556     $1.00       494,063     $1.00
=========================================================================================

=========================================================================================
Exercisable at end of year                     211,556                 494,063
=========================================================================================
</TABLE>
<TABLE>
The following table summarizes information about stock options outstanding at
November 30, 2000 and 1999, all of which are at fixed prices:
<CAPTION>
                                  Weighted
                   Number          Average        Weighted         Number
 Range of        Outstanding      Remaining        Average       Exercisable
 Exercise            at          Contractual      Exercise           at
  Prices          11/30/00          Life            Price         11/30/00
============================================================================
<S>             <C>              <C>             <C>             <C>
   $1.00           211,556        .5 years          $1.00           211,556
----------------------------------------------------------------------------
                   211,556                                          211,556
============================================================================
</TABLE>
<TABLE>
                                  Weighted
                   Number          Average        Weighted         Number
 Range of        Outstanding      Remaining        Average       Exercisable
 Exercise            at          Contractual      Exercise           at
  Prices          11/30/99          Life            Price         11/30/99
============================================================================
<S>             <C>              <C>             <C>             <C>
$1.00              494,063       1.5 years          $1.00           494,063
----------------------------------------------------------------------------
                   494,063                                          494,063
============================================================================
</TABLE>


                                   - F 20 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)

                  Notes to Consolidated Financial Statements
                    Years ended November 30, 2000 and 1999


COMMON STOCK RESERVED OF SUBSIDIARY

As of November 30, 2000, Xenogenics had a maximum of 13,333 shares of common
stock reserved for the possible conversion of notes payable.


10.  LEASE COMMITMENTS:

The Company subleases its office space on a month-to-month lease from a
related party.  The CEO of Exten Industries is also the CEO and Chairman of
the Board of the related party.  Rent expense was $4,500 in 2000 and $5,623 in
1999.


11. RESEARCH AND DEVELOPMENT

During 2000, Multicell Associates, Inc. of Warwick Rhode Island entered into an
agreement with the Company to evaluate and optimize the SYBIOL(R) device and to
provide an engineered liver cell line and to optimize the interface between the
Multicell cell line and the device.  The agreement calls for 3 payments
totaling $150,000.  As of November 30, 2000, the Company has paid a total of
$100,000 to Multi-cell and has incurred research expenses of $50,000.

US research on the efficacy of the SYBIOL (R) device was being conducted at
Loyola University Medical Center, Chicago.  The contract was completed in March
2000.


12.  INCOME TAXES

As of November 30, 2000, the Company had  net operating loss carryforwards of
approximately $6,095,000 and $3,125,000 for federal and state tax purposes,
respectively.  The net operating loss carryforwards will expire on various
dates through 2019 for federal and 2004 for state unless previously utilized
and may be significantly limited in use as a result of changes in Company
ownership.

Significant components of the Company's deferred tax assets are shown below.
A valuation allowance of $6,095,000 has been recognized to offset the deferred
tax assets as realization of such assets is uncertain.  The valuation allowance
increased during 2000 and 1999 by $830,652 and $140,001, respectively.
<TABLE>
November 30,                                          2000              1999
===============================================================================
<S>                                                <C>             <C>
Deferred tax assets:
Net operating loss carryforwards                   $ 6,095,000     $ 5,264,348
Valuation allowance for deferred tax assets         (6,095,000)     (5,264,348)
-------------------------------------------------------------------------------
Net deferred tax asset                             $         0     $         0
===============================================================================
</TABLE>


                                   - F 21 -
-------------------------------------------------------------------------------
<PAGE>
                     Exten Industries, Inc. and Subsidiary
                         (a development stage company)

                  Notes to Consolidated Financial Statements
                    Years ended November 30, 2000 and 1999


13.  SUBSEQUENT EVENTS

On November 15, 2000, Exten Industries (Exten) and Lexicor Medical Technology
signed a letter of intent for the acquisition by merger (Transaction) of
Lexicor Medical Technologies (the Company) by Exten Industries. At the closing,
Exten would purchase and acquire from shareholders of the Company 100% of the
outstanding shares. In the event that less than 100% of the Company's
shareholders consent to the merger, then Exten, at its option will not be
required to consummate the Transaction.  At the effective date of the
transaction, all outstanding shares of the Company will be transferred to Exten
and Exten will issue to the Company's shareholders an aggregate number of
shares of Exten's common stock equal to a 33.0% of Exten's issued and
outstanding common stock following completion of the Transaction.  Upon
execution of the letter, Exten advanced  $150,000 to the Company, as discussed
in Note 6.  In addition, Exten intends to assume the terms of an employment
agreement with the Company's President and Chief Executive Officer and all
other key employees of the Company.

Integral to these employment agreements will be the issuance of incentive stock
options to those key management personnel in compliance with Exten's approved
incentive stock option plan.  The expected date for completion of the merger is
May 31, 2001.  The letter of intent may be terminated and the proposed
transaction may be abandoned or terminated; (a) at any time by the mutual
written agreement of the parties, or (b) at the option of either party if,
after good faith negotiations the Definitive Agreements have not been executed
by January 31, 2001 or such later date as may be agreed upon by the parties.

On December 19, 2000, Exten Industries (Exten) and MediQuip International and
Sterling Medical Technologies, Inc. signed a letter of intent for the
acquisition by Merger (Transaction) of MediQuip and Sterling Medical
Technologies, Inc. (the Company) by a wholly owned subsidiary of Exten
Industries.  At the closing, Exten would purchase and acquire from the
shareholders of the Company 100% of the outstanding shares.  In the event that
less than 100% of the Company's shareholders consent to the merger, then Exten,
at its option will not be required to consummate the Transaction.  At the
effective date of the transaction, all outstanding shares of both Companies
shall be surrendered and canceled and as consideration Exten shall issue to the
shareholders of the Company and aggregate number of shares of Exten's common
stock equal to 10,000,000 of Exten's issued and outstanding common stock.  In
addition, Exten intends to work with the Company to establish a new Bank Line
of Credit for approximately $2,000,000.  Exten agrees to negotiate the terms of
an employment agreement with the Company's President and Chief Executive
Officer and all other key employees of the Company.  Integral to these
employment agreements will be the issuance of incentive stock options to those
key management personnel in compliance with Exten's approved incentive stock
option plan.  The letter of intent may be terminated and the proposed
transaction may be abandoned or terminated; (a) at any time by the mutual
written agreement of the parties, or (b) at the option of either party if,
after good faith negotiations the Definitive Agreements have not been executed
by February 28, 2001 or such later date as may be agreed upon by the parties.
Although the parties anticipate the closing to occur no later than
April 30, 2001, the parties recognize that the merger may not occur until the
registration statement is declared effective which may delay closing.


                                   - F 22 -
-------------------------------------------------------------------------------
<PAGE>