UNITED STATES SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                  FORM 10-KSB

(Mark One)

|X|   ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934 For the fiscal year ended March 31, 2004

|_|   TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
      OF 1934

      For the transition period from ______________ to________________
      Commission file number ___________________________________




                    ATLANTIS BUSINESS DEVELOPMENT CORPORATION


<TABLE>
<CAPTION>
<S>                             <C>                                                 <C>
                                DELAWARE                                                        95-4082020
 (State or other jurisdiction of incorporation or organization)                    (I.R.S. Employer Identification No.)

                       54 BROAD STREET, SUITE 200B
                              RED BANK, NJ                                                        07701
                (Address of principal executive offices)                                        (Zip Code)

Issuer's telephone number:                                                         (732) 212-1133
Securities registered under Section 12(b) of the Exchange Act:                     Common Stock, $.001 Par Value
</TABLE>


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


     The issuer's revenues for its most recent fiscal year were - $0.00.

      The aggregate market value of the voting common stock held by
non-affiliates of the registrant was approximately $1,243,200 based on the last
reported average bid and asked price of the common stock of the OTC Bulletin
Board on May 4, 2004.


                   (APPLICABLE ONLY TO CORPORATE REGISTRANTS)


        As of March 31, 2004, the Company had 25,837,300 shares issued and
outstanding of its common stock.


<PAGE>


                                     PART I


ITEM 1. DESCRIPTION OF BUSINESS.

     ATLANTIS BUSINESS DEVELOPMENT CORPORATION (the "Company") was initially
incorporated as Vision Technology International in Delaware in December 1986 and
changed its name to Medplus Corporation in 1992. In 2003, it changed its name to
Atlantis Business Development Corporation. The Company is a reporting, publicly
traded company that trades on the OTC Bulletin Board under the symbol ABDV. In
late 1992, the Company's primary business was patient financing through the
Company's acquisition of Patient Plus, Lincoln Professional Services Corporation
and Financial Health Network. In May 1998, the Company drastically reduced
operating its' patient finance operations and went into a minimum business
operation mode seeking additional business opportunities. During fiscal year
2003, Medplus relocated its headquarters from Colorado Springs, Colorado to an
office in Red Bank, New Jersey.

     On April 20, 2003, the Company's Board of Directors voted to be regulated
as a Business Development Company pursuant to Section 54 of the Investment
Company Act of 1940. The decision to become a Business Development Company was
made primarily to better reflect the Company's anticipated future business and
developing relationships. The Company does not intend to focus its investments
in any one industry; but intends to carefully screen any and all candidates that
appear to have superior investment opportunities.

     Accordingly, the Company is now a Business Development Company that has
elected to be regulated pursuant to Section 54 of the Investment Company Act of
1940. A Business Development Company is an investment company designed to assist
eligible portfolio companies with capital formation. Business development
companies are required to offer to accompany their investments with substantial
and continuing management advice.

     The Company may not elect to withdraw its election to be regulated as
Business Development Company without a vote of the holders of a majority of the
outstanding voting securities. The Company may, but is not required, to take a
controlling position in its investment companies. The Company's policy with
respect to any assets that are not required to be invested ineligible portfolio
companies or other companies qualifying under Section 55 of the Investment
Company Act of 1940, as well as with respect to investing as part of a group, is
to be left to the discretion of the Board of Directors. The Company will offer
managerial assistance to each of its portfolio companies and reserves the right
to be compensated by the portfolio companies at market rates for such services
and possible equity ownership for such services.

Employees

     At March 31, 2004, the Company had 1 part-time employee.

ITEM 2. DESCRIPTION OF PROPERTY.

     The Company leases its office facilities in Red Bank under a month-to-month
lease agreement. The office space is fully utilized and management believes it
to be suitable and adequate for it's reasonably foreseeable till expansion is
necessary.

ITEM 3. LEGAL PROCEEDINGS.

    None.

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

     At the Annual Meeting of shareholders held on July 29, 2003, pursuant to
the Notice of Annual Meeting of Stockholders dated July 1, 2003, the following
actions were taken:

<PAGE>


     1. The Proposal to elect, Brian Zucker, Tim DeHerrera, Leon Reingold, Leon
Golden and John Leo directors to hold office until the 2004 Annual Meeting of
Stockholders and until their successors are elected and qualified was approved
as follows:

Brian Zucker, Tim DeHerrera, Leon Reingold, Leon Golden, John Leo (23,852,365
shares in favor, 2,890 shares against; and no shares abstained).

     2. The proposal to appoint Bagell, Josephs & Company LLP as independent
auditors for the Company for the fiscal year ending March 31, 2003 was approved
(23,853,903 shares in favor: 551 shares against; and 801 abstained).

     3. The proposal to effect a 1 for 10 reverse stock split was approved
(23,649,929 shares in favor: 204,808 shares against; and 518 abstained).

     4. The proposal to amend the bylaws to allow no less than 3, no more than 9
directors of the Company was approved (23,848,979 shares in favor: 5,308 shares
against; and 968 abstained).

     5. The proposal to change the fiscal year of the Company to a calendar year
ending December 31was approved (23,743,903 shares in favor: 110,968 shares
against; and 384 abstained).

     6. The proposal to change the name of the company to reflect anticipated
activities as a business development corporation to Atlantis Business
Development Corporation was approved( 23,851,439 shares in favor: 3,275 shares
against; and 551 abstained).

     7. The proposal to amend the Company's Certificate of Incorporation to
change the authorized shares to 200,000,000 shares was approved ( 23,650,733)
shares in favor: 203,957 shares against; and 565 abstained).

No other matters were submitted to a vote of the Company's stockholders during
the fourth quarter of the fiscal year covered by this report through the
solicitation of proxies or otherwise.


                                     PART II

ITEM 5.    MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

    The Company's common Stock is traded on the OTC Bulletin Board under the
symbol MDPL. The high and low bid prices set forth through March 31, 2004 by
fiscal quarter on the following table:

Bid                                               High Bid     Low Bid

1st quarter ended June 30, 2001                      $.04        $.03
2nd quarter ended September 30, 2001                 $.04         .02
3rd quarter ended December 31, 2001                  $.01         .01
4th quarter ended March 31, 2002                     $.04         .02

1st quarter ended June 30, 2002                      $.03        $.02
2nd quarter ended September 30, 2002                 $.02          01
3rd quarter ended December 31, 2002                  $.03         .03
4th quarter ended March 31, 2003                     $.02         .01

1st quarter ended June 30, 2003                      $.04        $.025
2nd quarter ended September 30, 2003*                $.55         .351
3rd quarter ended December 31, 2003*                 $.40         .25
4th quarter ended March 31, 2004*                    $.38         .30

     The Company has not declared any cash dividends on its common stock in the
past two years and has no present intention to pay cash dividends in the
foreseeable future.

     The foregoing prices represent high and low closing bid prices, which
reflect quotations between dealers without adjustments for markups, markdowns or
commissions and may not represent actual transactions. The prices represented in
the quarter ended September 30, 2003 and subsequent quarters reflect the 1 for
10 stock reversal effectuated August 25, 2003. On May 31, 2004, the closing
price of the Company's common stock on the OTC Bulletin Board was $0.14 bid and

<PAGE>


$0.175 asked. On May 4, 2003, the closing price of the Company's common stock on
the OTC Bulletin Board was $.03 bid and $.01 asked. As of May 31, 2004 and to
the best of the Company's knowledge, there were approximately 1309 holders of
its common stock, however the Company believes that there are over 535 holders
of its common stock held in "street name" by brokers and clearing houses.

ITEM 6.    MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

LIQUIDITY  AND  CAPITAL  RESOURCES

     The Company has historically generated the funds necessary to meet its
working capital needs through internally generated funds, through the private
sale of common stock and the issuance of notes payable.

     At March 31, 2004, the Company had working capital of ($396,000) compared
to working capital of ($299,700) at March 31, 2003. The increase in the working
capital deficit is primarily due to the Company reclassifying the amount due in
accrued payroll taxes due to an unpaid settlement and compromise. The Company
believes the IRS settlement and compromise amount will be reinstated within the
current year but has left the liability on its books as $287,832 until formal
notification is given The Company's current liabilities are higher than its
assets due to debt obligation to the Internal Revenue Service and notes payable
to related parties. The Company intends to pay these liabilities out of future
financing and/or operations.

     The Company's liquidity needs are currently being met from the proceeds of
various debt financing as a subsequent event. The Company's ability to continue
operations is dependent upon the Company's ability to raise additional equity
and/or debt financing. Management is continuing its efforts to raise equity
financing in order to meet its long-term and short-term liquidity needs. There
can be no assurance that the Company will be able to consummate any transaction
and/or raise the additional financing necessary for continuing operations.

RESULTS OF OPERATIONS

REVENUE

     There was no Revenue derived from the Company's operations for the fiscal
years ended March 31, 2004 or for the fiscal year 2003.

OTHER OPERATING EXPENSES

     The Company had no other operating expenses other than as set forth in its
financial statements in order to have the company continue its public status.

ITEM 7.    FINANCIAL STATEMENTS.



<PAGE>


                    ATLANTIS BUSINESS DEVELOPMENT CORPORATION
                         (FORMERLY MEDPLUS CORPORATION)
                          (A DEVELOPMENT STAGE COMPANY)


                              FINANCIAL STATEMENTS

                   FOR THE YEARS ENDED MARCH 31, 2004 AND 2003
































<PAGE>


                    ATLANTIS BUSINESS DEVELOPMENT CORPORATION
(FORMERLY MEDPLUS CORPORATION)
                          (A DEVELOPMENT STAGE COMPANY)
                   FOR THE YEARS ENDED MARCH 31, 2004 AND 2003


                          INDEX TO FINANCIAL STATEMENTS


CONTENTS                                                                PAGE(S)


  Report of Independent Registered Public Accounting Firm -
    Bagell, Josephs & Co., LLC for year ended March 31, 2004              1

  Independent Auditor's Report - Clyde Bailey P.C.
     for year ended March 31, 2003                                        2

  Balance sheet at March 31, 2004                                         3

  Statement of operations for the years ended March 31, 2004
  and March 31, 2003                                                      4

  Statement of changes in net assets for the years ended
  March 31, 2004 and March 31, 2003                                       5

  Statement of cash flows for the years ended
  March 31, 2004 and March 31, 2003                                       6

  Statement of investments at March 31, 2004                              7

  Notes to the Financial Statements                                       8-14

<PAGE>

             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors
Atlantis Business Development Corporation

We have audited the accompanying balance sheet of Atlantis Business Development
Corporation (a development stage company) ("Company"), including the statement
of investments, as of March 31, 2004, and the related statements of operations,
changes in net assets, cash flows, for the year then ended. These financial
statements and financial highlights are the responsibility of the Company's
management. Our responsibility is to express an opinion on these financial
statements and financial highlights based on our audit.

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

In our opinion, the 2004 financial statements referred to above present fairly,
in all material respects, the financial position of Atlantis Business
Development Corporation (a development stage company) as of March 31, 2004, and
the results of its operations, the changes in its net assets, and its cash
flows, for the year then ended in conformity with accounting principles
generally accepted in the United States of America.

BAGELL, JOSEPHS & COMPANY, LLC
Bagell, Josephs & Company, LLC

Gibbsboro, New Jersey
June 4, 2004


<PAGE>


                          INDEPENDENT AUDITOR'S REPORT

Board of Directors
Med Plus Corp

I have audited the accompanying balance sheet of Med Plus Corp ("Company") as of
March 31, 2003, and the related statements of operations, statement of
stockholders' equity, and the statement of cash flows for the years ended March
31, 2003 and 2002. These financial statements are the responsibility of the
Company's management. My responsibility is to express an opinion on these
financial statements based on our audit.

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

In my opinion, the financial statements referred to above present fairly, in all
material respects, the financial position of the Company as of March 31, 2003,
and the results of its operations and its cash flows for the years ended March
3, 2003 and 2002 in conformity with accounting principles generally accepted in
the United States of America.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern. The Company has limited operations
currently and suffered recurring losses from operations. These factors raise
substantial doubt about the Company's ability to continue as a going concern.
This is further explained in the notes to financial statements.


Clyde Bailey P.C.
San Antonio, Texas
May 2, 2003
September 24, 2003 (As Amended)

<PAGE>


                    ATLANTIS BUSINESS DEVELOPMENT CORPORATION
                         (FORMERLY MEDPLUS CORPORATION)
                        (A DEVELOPMENT STAGE CORPORATION)
                                  BALANCE SHEET
                                 MARCH 31, 2004


<TABLE>
<CAPTION>
                                                               2004
                                                             ---------
<S>                                                          <C>
ASSETS
  Cash and cash equivalents                                  $  17,821
  Investments at cost                                           22,500
  Fixed assets - net                                             3,665
                                                             ---------

                 Total Assets                                $  43,986
                                                             =========


LIABILITIES AND STOCKHOLDERS' EQUITY
   Accounts payable and accrued expenses                     $  46,777
   Accrued payroll taxes                                       287,933
   Short-term debt - advances                                  105,000
                                                             ---------

                 Total Liabilities                           $ 439,710
                                                             ---------


STOCKHOLDERS' DEFICIT
   Common stock, $.001 par value, authorized 200,000,000
   shares at March 31, 2004 and 25,837,300
    shares issued and outstanding                            $  25,837
   Additional paid-in capital                                  289,974
   Deficit accumulated during development stage               (711,535)
                                                             ---------
                Total Stockholders' Deficit                  $(395,724)
                                                             ---------

                Total Liabilities and Stockholders' Equity   $  43,986
                                                             =========

Net Asset (Loss) Value Per Share                             $  (0.015)
                                                             =========
</TABLE>


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


                                       -3-

<PAGE>


                    ATLANTIS BUSINESS DEVELOPMENT CORPORATION
                         (FORMERLY MEDPLUS CORPORATION)
                        (A DEVELOPMENT STAGE CORPORATION)
                            STATEMENTS OF OPERATIONS


<TABLE>
<CAPTION>
                                                         For the years ended March 31,
                                                        ------------------------------
                                                            2004              2003
                                                        ------------      ------------
<S>                                                     <C>               <C>
REVENUE:
Investment income                                       $         --      $         --
Other income                                                      --                --
                                                        ------------      ------------
      Total income                                      $         --      $         --
                                                        ============      ============
OPERATING EXPENSES:
  Professional fees                                           36,030             5,500
  Contract Services                                           49,435           391,888
  Advertising                                                  1,452                --
  Payroll expenses                                            20,475                --
  Stockholder relations                                       10,183                --
  Rent                                                        16,500                --
  Travel                                                       5,466                --
  Office                                                       9,367                --
  Telephone                                                    4,422                --
  License and registration                                     3,992                --
  Other expenses                                              13,570             6,587
                                                        ------------      ------------
      Total operating expenses                               170,892           403,975
                                                        ------------      ------------
Investment Income (Loss), net                               (170,892)         (403,975)
                                                        ------------      ------------
Net (decrease) in net assets resulting from
  operations                                            $   (170,892)     $   (403,975)
                                                        ============      ============
Net increase (decrease) in net assets from operations
  per share, basic and diluted                          $     (0.011)     $     (0.013)
                                                        ============      ============
Weighted average number of shares outstanding,
  basic and diluted                                       15,172,450        31,283,348
                                                        ============      ============
</TABLE>


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


                                       -4-

<PAGE>


                    ATLANTIS BUSINESS DEVELOPMENT CORPORATION
                         (FORMERLY MEDPLUS CORPORATION)
                        (A DEVELOPMENT STAGE CORPORATION)
                       STATEMENTS OF CHANGES IN NET ASSETS
                   FOR THE YEARS ENDED MARCH 31, 2004 AND 2003



<TABLE>
<CAPTION>
                                                                    Additional                          Total
                                                      Common          Paid in         Deficit        Stockholders
                                                      Stock           Capital       Accumulated    Equity (deficit)
                                                   ------------    ------------    ------------    ---------------
<S>                                                <C>             <C>             <C>                <C>
Balance, April 1, 2002                             $     25,839    $ 10,638,147    $(11,110,817)   $      (446,831)
Stock issued for services                                 7,134          64,204              --             71,338
Stock issued for consulting services                      5,250          85,050              --             90,300
Stock issued for debt reduction                           6,857         111,398              --            118,255
Net decrease in net assets
   from operations                                           --              --        (132,761)          (132,761)
                                                   ------------    ------------    ------------    ---------------
Balance, March  31, 2003                           $     45,079    $ 10,898,799    $(11,243,578)   $      (299,700)
Recapitalization at April 1, 2003                         2,532     (10,898,799)     10,896,267                 --
Adjustment of IRS liability                                  --              --        (193,332)          (193,332)
Reverse stock split, 1 to 10                            (42,849)         42,849              --                 --
Common stock issued for debt
    conversion                                           20,000         183,200              --            203,200
Common shares issued for cash                             1,075          63,925              --             65,000
Net decrease in net assets
   from operations                                           --              --        (170,892)          (170,892)
                                                   ------------    ------------    ------------    ---------------
Balance, March 31, 2004                            $     25,837    $    289,974    $   (711,535)   $      (395,724)
                                                   ============    ============    ============    ===============
</TABLE>


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


                                       -5-
<PAGE>


                    ATLANTIS BUSINESS DEVELOPMENT CORPORATION
                         (FORMERLY MEDPLUS CORPORATION)
                        (A DEVELOPMENT STAGE CORPORATION)
                            STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                                                       For the years ended March 31,
                                                                          2004            2003
                                                                       ---------------------------
<S>                                                                    <C>            <C>
Cash Flows from Operating Activities:
  Net change in net assets resulting from operations                   $  (170,892)   $  (132,761)
  Adjustments to reconcile net change in net assets
      resulting from operations to net change used for
      operations:
  Depreciation                                                                 335             --
  Changes in assets and liabilities:
    Stock issued for services                                                   --        366,838
    Accounts payable and other accrued payables                             44,777       (259,077)
    Other liabilities                                                          101             --
                                                                       -----------    -----------
    Net cash (used in) operating activities                               (125,679)       (25,000)
                                                                       -----------    -----------

Cash Flows from Investing Activities:
  Purchase of fixed assets                                                  (4,000)            --
  Purchase of investments                                                  (22,500)            --
                                                                       -----------    -----------

   Net cash used in investing activities                                   (26,500)            --
                                                                       -----------    -----------

Cash Flows from Financing Activities:
  Short-term debt - advances                                               105,000             --
  Stockholder loans                                                             --         25,000
  Stock issued for cash                                                     65,000             --
                                                                       -----------    -----------

    Net cash provided by financing activities                              170,000         25,000
                                                                       -----------    -----------

Net change in cash and cash equivalents for the year                        17,821             --
                                                                       -----------    -----------

Cash and cah equivalents, beginning of year                                     --             --
                                                                       -----------    -----------

Cash and cash equivalents, end of the year                             $    17,821    $        --
                                                                       ===========    ===========


SUPPLEMENTAL SCHEDULE OF NONCASH ACTIVITY:

  Issuance of common stock for conversion of debt                      $   203,200    $        --
                                                                       ===========    ===========

  Adjustment of IRS liability                                          $   193,332    $        --
                                                                       ===========    ===========
</TABLE>


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

                                       -6-
<PAGE>


ATLANTIS BUSINESS DEVELOPMENT CORPORATION
                                          (FORMERLY MEDPLIS CORPORATION)
                                           (A DEVELOPMENT STAGE COMPANY)
                                             STATEMENT OF INVESTMENTS
                                                  MARCH 31, 2004







NAME OF ISSUER                                                        VALUE
---------------------------------------------------------------------------
      Fine Wein Records, Inc.                                       $17,500
      Magna Solar Power, Inc.                                         5,000
                                                                   --------
      TOTAL INVESTMENTS                                             $22,500





Investments made at cost, less than 51% interest by Atlantis Business
Development Corporation.







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


                                       -7-
<PAGE>


                   ATLANTIS BUSINESS DEVELOPMENT CORPORATION
                         (FORMERLY MEDPLUS CORPORATION)
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                             MARCH 31, 2004 AND 2003



NOTE 1-  ORGANIZATION

         The Company was incorporated in the State of Delaware in December 1986
         as Vision Technology International. They changed their name in 1992 to
         Medplus Corporation and in August 2003, changed its name to Atlantis
         Business Development Corporation. The Company had operated in the
         health care financing industry. The Company ceased all operations in
         1998 and has little or no viable operations since that date.

         On April 20, 2003, the Company's Board of Directors voted to be
         regulated as a Business Development Company pursuant to Section 54 of
         the Investment Company Act of 1940. A Business Development Company is
         an investment company designed to assist eligible portfolio companies
         with capital information. The decision to become a Business Development
         Company was made primarily to better reflect the Company's anticipated
         future business and developing relationships. The Company does not
         intend to focus its investments in any one industry; but intends to
         carefully screen any and all candidates that appear to have superior
         investment opportunities.

         With this new designation, the Company as of April 1, 2003, has decided
         to offset their existing additional paid-in capital to the deficits
         that had accumulated since inception (December 1986). The net result
         was that the deficits accumulated in the development stage was left
         with a balance of $540,643.



                                       -8-
<PAGE>


                   ATLANTIS BUSINESS DEVELOPMENT CORPORATION
                         (FORMERLY MEDPLUS CORPORATION)
                          (A DEVELOPMENT STAGE COMPANY)
                    NOTES TO FINANCIAL STATEMENTS, CONTINUED
                             MARCH 31, 2004 AND 2003



NOTE 2-  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

         DEVELOPMENT STAGE COMPANY

         Atlantis Business Development Corporation is a development stage
         company. The Company devotes substantially all of its efforts to seek,
         investigate and, if warranted, invest in other companies.

         USE OF ESTIMATES

         The preparation of financial statements in conformity with accounting
         principles generally accepted in the United States of America requires
         management to make estimates and assumptions that affect the reported
         amounts of assets and liabilities 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.


CASH AND CASH EQUIVALENTS

         The Company considers all highly liquid debt instruments and other
         short-term investments with an initial maturity of three months or less
         to be cash or cash equivalents.

         At March 31, 2004, the Company maintained cash and cash equivalent
         balances at one financial institution which is insured by the Federal
         Deposit Insurance Corporation, whose amounts do not exceed the insured
         limit of $100,000.


                                       -9-
<PAGE>


                   ATLANTIS BUSINESS DEVELOPMENT CORPORATION
                         (FORMERLY MEDPLUS CORPORATION)
                          (A DEVELOPMENT STAGE COMPANY)
                    NOTES TO FINANCIAL STATEMENTS, CONTINUED
                             MARCH 31, 2004 AND 2003




NOTE 2-  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

         PROPERTY AND EQUIPMENT

         Equipment is stated at cost. Depreciation is provided using the
         straight-line method over the estimated useful lives of the assets.

         Maintenance and repairs are charged to operations when incurred.
         Betterments and renewals are capitalized. When equipment are sold or
         otherwise disposed of, the asset accounts and related accumulated
         depreciation accounts are relieved, and any gain or loss is included in
         operations.

         The useful lives of equipment for purposes of computing depreciation
         are:

         Equipment                          5-7 years

         Depreciation expense for the year ended March 31, 2004 was $335.

         OPERATING LEASE

         The Company leases office space from an affiliate of one of its
         shareholders on a month-to-month basis.


                                      -10-
<PAGE>


                   ATLANTIS BUSINESS DEVELOPMENT CORPORATION
                         (FORMERLY MEDPLUS CORPORATION)
                          (A DEVELOPMENT STAGE COMPANY)
                    NOTES TO FINANCIAL STATEMENTS, CONTINUED
                             MARCH 31, 2004 AND 2003


NOTE 2-  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

INCOME TAXES

         Deferred income taxes are reported using the liability method. Deferred
         tax assets are recognized for deductible temporary differences and
         deferred tax liabilities are recognized for taxable temporary
         differences. Temporary differences are the differences between the
         reported amounts of assets and liabilities and their tax bases.
         Deferred tax assets are reduced by a valuation allowance when, in the
         opinion of management, it is more likely than not that some portion or
         all of the deferred tax assets will not be realized. Deferred tax
         assets and liabilities are adjusted for the effects of changes in tax
         laws and rates on the date of enactment.


FAIR VALUE OF FINANCIAL INSTRUMENTS

         The carrying amounts reported in the balance sheet for cash and accrued
         expenses approximate fair value because of the immediate or short-term
         maturity of these financial statements.


ADVERTISING COSTS

         The Company's expenses the costs associated with advertising as
         incurred. The Company had $1,452 and zero advertising costs for the
         years ended March 31, 2004 and 2003, respectively.


EMPLOYEES

         At March 31, 2004, the Company had 1 part-time employee.


RECLASSIFICATIONS

         Certain reclassifications have been made to prior year captions in
         order to conform to current year presentation.


                                      -11-
<PAGE>


                   ATLANTIS BUSINESS DEVELOPMENT CORPORATION
                         (FORMERLY MEDPLUS CORPORATION)
                          (A DEVELOPMENT STAGE COMPANY)
                    NOTES TO FINANCIAL STATEMENTS, CONTINUED
                            MARCH 31, 2004 AND 2003



NOTE 3-  INVESTMENTS IN PRIVATE CORPORATIONS

         At March 31, 2004, the cost of investment for federal income tax
         purposes was the same for financial reporting purposes. Investments are
         made at cost.

         The Company invested $22,500 which represents less than 51% interest in
         other companies. Each investment represents a portion of money that
         Atlantis Business Development Corporation has pledged to the businesses
         to help in start-up costs.

NOTE 4-  ACCRUED PAYROLL TAXES

         This account represents a previous "Offer and Compromise" with the
         Internal Revenue Service the "IRS" dated August 6, 2001 for the
         reduction of outstanding payroll taxes from 1996 through 1999 and the
         release of the corresponding liens. The Company defaulted on the
         agreement and therefore has recorded the previous entire liability. The
         new management of the Company believes that the original agreement with
         the IRS will be reinstated within the current year but has left the
         liability on its books as $287,832 until formal notification is given.

NOTE 5-  SHORT TERM DEBT- ADVANCES

         The advances represent notes that are due with no specific repayment
         terms from a related party. This note is anticipated to be converted to
         stock within a year.




                                      -12-
<PAGE>

                   ATLANTIS BUSINESS DEVELOPMENT CORPORATION
                         (FORMERLY MEDPLUS CORPORATION)
                          (A DEVELOPMENT STAGE COMPANY)
                    NOTES TO FINANCIAL STATEMENTS, CONTINUED
                            MARCH 31, 2004 AND 2003



NOTE 6-  STOCKHOLDERS' DEFICIT

         The Company issued 2,531,780 shares of common stock to an investor for
         $50,000 on June 25, 2003. The Company on September 19, 2003 rescinded
         this transaction. The transfer agent on October 17,2003 cancelled the
         stock.

         The Board of Directors on July 29, 2003 voted to increase the common
         stock authorized of the Company to 200,000,000 and approved a 1 for 10
         reverse stock split.

         The Company issued 20,000,000 shares of stock to convert $203,200 of
         payables and cancel their deferred compensation and employment
         contracts that existed from the prior officers and stockholders. The
         amount retired was agreed upon contractually.

         The Company issued 1,075,000 shares of stock for cash of $65,000 to an
         investors in the fourth quarter of the Company's fiscal year.



                                      -13-
<PAGE>


                   ATLANTIS BUSINESS DEVELOPMENT CORPORATION
                         (FORMERLY MEDPLUS CORPORATION)
                          (A DEVELOPMENT STAGE COMPANY)
                    NOTES TO FINANCIAL STATEMENTS, CONTINUED
                            MARCH 31, 2004 AND 2003


NOTE 7-  PROVISION FOR INCOME TAXES

         The Company did not provide for in come taxes for the year ended March
         31, 2004. Additionally, the Company established a valuation allowance
         equal to the full amount of the deferred tax assets due to the
         uncertainty of the utilization of the operating losses in future
         periods.

         At March 31, 2004, the deferred tax assets consists of the following:


                                                                   2004
                                                               ------------
Deferred taxes due to net operating loss
carryforwards                                                  $   284,614
Less:  Valuation allowance                                        (284,614)
                                                               ------------
Net deferred tax asset                                         $        --
                                                               ============


NOTE 8-  COMMITMENTS AND CONTINGENCIES

         The Company has intentions to acquire interest in Magna Solar Power,
         Inc., a company that provides solar outdoor pre-packaged lighting
         systems. These systems will contain products and designs engineered by
         Magna and its own proprietary Solar Evaporative Cooler. Magna is a
         jointly owned project with SunAmp Power Company, Inc. The company
         invested $5,000 into Magna Solar Power.

         The Company also has intentions to acquire interest in TST Recycling
         Technologies Inc., a specialist in the treatment of hazardous, toxic
         and non-desirable wastes. TST recycling Technologies owns 100% of TST
         Entsorgungs AG ("TST"), which is a Swiss Registered Company.

         The Company has an effective Registration 1-E and the ability to raise
         up to one million dollars.


                                      -14-
<PAGE>


ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE.

On August 4, 2003, the Company terminated the services of Clyde Bailey, P.C. as
its accountant. The Company retained Bagel, Josephs and Company, LLC as its new
certifying accountant.

ITEM 8A.   CONTROLS AND PROCEDURES.

Within the 90-day period prior to the filing of this report, the Company carried
out an evaluation of the effectiveness of the Company's disclosure controls and
procedures (as defined by Rule 13a-14(c) under the Securities Exchange Act of
1934) under the supervision and with the participation of the Company's chief
executive officer and chief financial officer. Based on and as of the date of
such evaluation, the aforementioned officers have concluded that the Company's
disclosure controls and procedures were effective.

The Company also maintains a system of internal accounting controls that is
designed to provide assurance that assets are safeguarded and that transactions
are executed in accordance with management's authorization and properly
recorded. This system is continually reviewed and is augmented by written
policies and procedures, the careful selection and training of qualified
personnel and an internal audit program to monitor its effectiveness. During the
fiscal year ended March 31, 2004, there were no significant changes to this
system of internal controls or in other factors that could significantly affect
those controls.

                                    PART III

ITEM 9.    DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS

DIRECTORS AND EXECUTIVE OFFICERS

     Set forth below are the Directors and Executive Officers of the Company and
their ages and position(s) held as of the date of this report:

  Name                    Age        Position

John Figliolini                   President, CEO, Director
Brian Zucker                      Director
Vince Trapasso                    Director
Christopher Dubeau                Director
Tim DeHerrera                     Director, Secretary/Treasurer
Leon Golden                       Director
John Leo                          Director
Rafael Marte                      Director

John Figliolini, President and CEO of Atlantis Business Development Corporation,
has been in the finance business since 1982. He has held senior management
positions at several Wall Street firms. In 1992 he founded and was President of
Berkshire International Finance, Inc., a private Investment Banking firm. During
that time he raised over $350 Million for some 35 public companies. In 1997 he
founded and was President of Phillip Louis Trading, Inc. (`PILL"), a NASD, SIPC
and SEC registered broker/dealer. PILL was a NASDAQ market maker. As of May
2004, Mr. Figliolini has been President of ABDV and spends 75% of his time on
ABDV business.

Brian Zucker On April 4, 2003, Mr. Zucker was appointed Chairman of the Board of
Atlantis Business Development Corporation Mr. Zucker is a CPA and possesses
various NASD licenses, which through his own accounting firm, provides tax,


<PAGE>


consulting and other services to numerous broker dealers, hedge funds and high
net worth individuals. He has over 17 years experience as a Certified Public
Accountant and began his career as a Senior Consultant at both Price Waterhouse
and Deloitte Haskins and Sells. He holds a Bachelor's degree in Public
Accounting from Pace University in New York. He is a member of the American
Institute of Certified Public Accountants and New York State Society of CPA's
where he is a member of Stockbrokerage Accounting Committee. NASD licenses
include series 7, 63, 24, and 27.

Christopher Dubeau, Director. Mr. Dubeau has been in the Internet marketing
business since the year 2000. During the past 4 years he has owned and operated
a successful hosting business and produced a successful opt-in emailing business
from the ground up. Recently, Mr. Dubeau ventured into the fax over IP business,
which is relatively new. He has built a fax broadcasting system which uses FOIP
and acquired a database of over eight million opt in fax numbers from InfoUSA,
Dunn & Bradstreet, and many other list management companies. Mr. Dubeau has
extensive knowledge of computer hardware, software, and IP technology. Mr.
Dubeau is knowledgable in Linux, Free BSD, C++ programming, as well as IP
translation, firewalls, and software.

Vince Trapasso, Director. Mr. Trapasso is President of Sonata Ventures LLC. Mr.
Trapasso has focused on building and managing a diversified database of public
and private companies, equity funds, banking relations, and marketing agencies.
His breadth of relationships has been instrumental in the origination and
execution of private placements, asset based financing, and acquisitions for
companies within the multimedia services, nutraceutical, biotechnology, and
environmental industries. Sonata Ventures corporate solutions are available to
both public and private companies that have a committed management team and a
focused business plan. Mr. Trapasso has a breadth of relationships,
entrepreneurial style, and over twenty-five years of hands-on management
experience, having been Principle for a number of entrepreneurial ventures in
the entertainment media and health related industries.

Leon Golden On April 4, 2003, Mr. Golden was appointed a Director of the
Company. For the last two years, Mr. Golden has had his own CPA practice in New
York City. Also he worked as a public accountant for another New Tork City CPA
Firm for fifteen years. Mr GOlden concentrates in Broker-Dealer accounting. He
earned a B.S. in Accounting from Brooklyn College.

John Leo, Director On April 4, 2003, Mr. Leo was appointed a Director of the
Company. Since December of 2001 he was a founder and Managing Partner of Venture
Capital Partners, LLC a Jersey City consulting company. Also, in 2001 he was a
financial advisor and OTC stock trader for AM Capital LLC, a New York City
brokerage firm. From 1997 to 2001, Mr. Leo was an OTC stock trader for M.H.
Meyerson & Co., Inc. of Jersey City. For eight years prior thereto he worked as
a stock trader for various brokerage firms in the East coast area. Mr. Leo has
obtained Series 7,63,55,24 and 3 licenses.

Rafael Marte, Director. Mr. Marte has been a CPA for 21 years. He has his own
accounting firm providing tax and various other accounting services to
individuals, partnerships and corporations. He also possesses a NASD Financial
and Operations Principal license and oversees the financial operations for five
NASD Broker Dealers. He has a BBA from Barach College which was paid with
military service in the US Army for 7 years, where he earned the rank of staff
sergeant.

Tim DeHerrera, Director Mr. DeHerrera was President and Director of the Company
from January 1996 to April 4, 2003 when he became Secretary and Treasurer of the
Company. Prior to joining the Company he was in the financial services sector
for over fifteen years. He most recently was president of Alternative Finance
Advisors, Inc, a company that consults to the credit industry for private label
credit cards, affinity credit cards, installment based finance programs and
others. As president of Medplus, a medical finance company, Mr. DeHerrera did
extensive work in investment banking, capital formation, capital restructures,
private placements and lender negotiations and development.

The company had a change of control effective April 16, 2003, management
transferred control in share ownership to Lloyd Madison Capital Holdings, Inc.
The results of a subsequent Board meeting were as follows: Brian Zucker, CPA,
was appointed President and a Director of the company; Tim DeHerrera remained as
Director and is now Secretary/Treasurer; and Leon Reingold, Leon Golden and John

<PAGE>


Leo were appointed Directors. Subsequent to this time, Brian Zucker was
appointed Chairman of the Board and resigned as President, John Figliolini was
appointed President, Leon Reingold resigned as Director, and Christopher Dubeau
and Vince Trapasso were appointed Directors.

ITEM 10.   EXECUTIVE COMPENSATION.

None of the Company's executive officers received any compensation for services
rendered during the fiscal year ended March 31, 2004. The following tables set
forth the compensation received by the Company's Chief Executive Officer for
services rendered during the last two fiscal years ended March 31, 2004.


<TABLE>
<CAPTION>
                                                           ANNUAL COMPENSATION
                       CAPACITY IN           --------------------------------------------------
INDIVIDUAL             WHICH SERVED          FISCAL YEAR            SALARY     BONUS      OTHER
----------             ------------          -----------            ------     -----      -----
<S>                    <C>                   <C>                    <C>        <C>        <C>
Tim DeHerrera           President            March 31, 2003        None        None       None
Brian Zucker            President            March 31, 2004        $27,000     None       None
John Figliolini         President            March 31, 2004        None        None       None

Tim DeHerrera           Secretary            March 31, 2004        None        None       None
P. James Voloshin       Secretary            March 31, 2003        None        None       None
</TABLE>

Stock option plan. The Company's Incentive Option Plan (the "Plan") was adopted
by the Company's Board of Directors and approved by the stockholders in April
2004. A total of 1,000,000 shares of Common Stock were reserved for issuance
under the Plan. The Plan provides for the granting to certain employees of stock
options, stock appreciation rights and supplemental bonuses. The Plan permits
the grant of both "incentive stock options" within the meaning of Section 422 of
the Internal Revenue Code of 1986 (the "Code"), and non-statutory options, which
do not meet the requirements of Section 422. The Company has issued stock
options in the amount of 500,000 shares to employees of the Company and all have
been exercised. A total of 500,000 shares remain available.

ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
RELATED STOCKHOLDER MATTERS.

The following table sets forth information as of March 20, 2004 regarding the
Company's Common Stock owned of record or beneficially by (i) each person known
to the Company who owns beneficially 5% or more of the Company's Common Stock;
(ii) each of the Company's directors; and (iii) all officers and directors as a
group.

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
                                                                                          PERCENTAGE OF SHARES OF
                                                               SHARES OF COMMON STOCK    COMMON STOCK BENEFICIALLY
    NAME OF BENEFICIAL OWNER        NATURE OF AFFILIATION      BENEFICIALLY OWNED (3)              OWNED
----------------------------------------------------------------------------------------------------------------------
<S>                              <C>                            <C>                       <C>
John Figliolini                  CEO, Director                                  250,000                  Less than 1%
----------------------------------------------------------------------------------------------------------------------
Brian Zucker (1)                 Secretary/Treasurer,                  10,389,540 (3,4)                         22.7%
                                 Director
----------------------------------------------------------------------------------------------------------------------
Tim DeHerrera (2)                Secretary, Treasurer,                    5,364,903 (3)                         11.7%
                                 Director
----------------------------------------------------------------------------------------------------------------------
Christopher Dubeau               Director                                    20,500,000                          44.8
----------------------------------------------------------------------------------------------------------------------
Leon Reingold (1)                Director                                             0                            0%
Vince Trepasso                   Director                                       200,000                  Less than 1%
----------------------------------------------------------------------------------------------------------------------
Leon Goldn (1)                   Director                                             0                            0%
----------------------------------------------------------------------------------------------------------------------
John Leo (1)                     Director                                             0                            0%
----------------------------------------------------------------------------------------------------------------------
Rafael Marte                     Director                                             0                            0%
----------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>


<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
                                                                                          PERCENTAGE OF SHARES OF
                                                               SHARES OF COMMON STOCK    COMMON STOCK BENEFICIALLY
    NAME OF BENEFICIAL OWNER        NATURE OF AFFILIATION      BENEFICIALLY OWNED (3)              OWNED
----------------------------------------------------------------------------------------------------------------------
<S>                              <C>                            <C>                       <C>
Louis Feld                       Director                                             0                            0%
----------------------------------------------------------------------------------------------------------------------
P. James Voloshin (2)            Shareholder                              5,688,877 (3)                         12.5%
----------------------------------------------------------------------------------------------------------------------
Renee Voloshin (2)               Shareholder                                      0 (3)                            0%
----------------------------------------------------------------------------------------------------------------------
Lloyd Madison                    Shareholder                           10,389,540 (3,4)                         22.7%
Capital Holdings, Inc.
----------------------------------------------------------------------------------------------------------------------
Officers, Directors and                                                      42,393,320                         92.7%
Affiliates as a group
----------------------------------------------------------------------------------------------------------------------
</TABLE>

1.    The address of these affiliates is 54 Broad Street, Suite 200B, Red Bank,
      NJ 07701

2.    The address of Mr. DeHerrera and Dr. and Mrs. Voloshin is Box 694,
      Colorado Springs, Colorado, 80903. Renee Voloshin is the wife of Dr. P.
      James Voloshin. Dr. Voloshin disclaims any beneficial ownership of Mrs.
      Voloshin's preferred shares

3.    On April 1, 2003 the Company issued one million (1,000,000) shares of
      Preferred Stock each to affiliates Tim DeHerrera and P. James Voloshin for
      the cancellation of their employment agreements and in lieu of deferred
      cash compensation during the term of these agreements. On April 4, 2003,
      Mr. DeHerrera and Dr. Voloshin sold 519,447 shares each of their Preferred
      Stock to Lloyd Madison Capital Holding, Inc. for the consideration of
      $2,500 each (see page 3 for stock sales and transfers). Each share of
      Preferred Stock is convertible into ten shares of Common Stock of the
      Company irrespective of whatever previous reverse or forward stock splits,
      if any, is effectuated by the Company prior to any notice of conversion.

4.    Mr. Zucker, by his 100% stock ownership of Lloyd Madison Capital Holdings,
      Inc., is deemed to beneficially own the same ownership.

On March 31, 2004, there were 25,837,300 common shares outstanding. Additional
shares were issued for acquisitions and other matters as set forth in this Item
11 above. Additional disclosure will be filed shortly herewith in the company's
proxy statement and other regulatory filings.

ITEM 12.   CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

     None.

ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K.

Exhibits

<TABLE>
<CAPTION>
Exhibit No.                              Document                               Location
---------------------------------------- -------------------------------------- --------------------------------------
<S>                                      <C>                                    <C>
3.1                                      Articles of Incorporation              Previously Filed
3.2                                      Bylaws                                 Previously filed
23                                       Consent of Auditor                     Included
31                                       Certification                          Included
32                                       Certification                          Included

Reports on Form 8-K

The following reports were made on Form 8-K during the last quarter of the
fiscal year ended March 31, 2004:

---------------------------------------- -------------------------------------- --------------------------------------
              Date Filed                                 Item                                   Event
---------------------------------------- -------------------------------------- --------------------------------------
           December 17, 2003                               1                    Changes in Control
---------------------------------------- -------------------------------------- --------------------------------------
             March 8, 2004                                 1                    Changes in Control
---------------------------------------- -------------------------------------- --------------------------------------
</TABLE>

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

<PAGE>


RELATIONSHIP WITH INDEPENDENT AUDITORS

      The firm of Clyde Bailey, PC served as the Company's independent public
accountants for the year ended March 31, 2003. The firm of Bagell Josephs &
Company served as the Company's independent public accountants for the year
ended March 31, 2004. The Board of Directors of the Company, in its discretion,
may direct the appointment of different public accountants at any time during
the year, if the Board believes that a change would be in the best interests of
our stockholders. The Board of Directors has considered the audit fees,
audit-related fees, tax fees and other fees paid to the Company's accountants,
as disclosed below, and had determined that the payment of such fees is
compatible with maintaining the independence of the accountants.

      Set forth below is a summary of the fees paid to the Company's principal
accountants for the past two years for the professional services performed for
the Company.

AUDIT FEES

      The aggregate fees billed by Clyde Bailey, PC for professional services
rendered for the audit of the Company's annual financial statements on Form
10-KSB and the reviews of the financial statements included in the Company's
Form 10-QSB's for the fiscal years ended March 31, 2004 was $250.00 and March
31, 2003 was $2,500.00. The aggregate fees billed by Bagell Josephs & Company
for professional services rendered for the audit of the Company's annual
financial statements on Form 10-KSB and the reviews of the financial statements
included in the Company's Form 10-QSB's for the fiscal years ended March 31,
2004 was $25,000.00.


AUDIT-RELATED FEES
     None


TAX FEES

      The aggregate fees billed by Bagell Josephs & Company for professional
services rendered for Internal Revenue Service work relating to the
reinstatement of Offer in Compromise for the fiscal year ended March 31, 2004
was $ 5,000.00

ALL OTHER FEES
         None

                                   SIGNATURES

      In accordance with Section 13 or 15(d) of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                             ATLANTIS BUSINESS DEVELOPMENT CORPORATION


                             By:_______________________________________________
                                                 John Figliolini, President




                             Date ______________________________________________

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

                             By: /s/ Tim DeHerrera
                                ------------------------------------------------
                                Tim DeHerrera, Secretary/Tresurer




                             Date ______________________________________________




                             By:_______________________________________________
                                                  (Signature and Title)*









                             Date ______________________________________________