UNITED
      STATES


SECURITIES
      AND EXCHANGE COMMISSION


WASHINGTON,
        D.C. 20549
 
 **FORM
        20F**
 
  ̈ REGISTRATION
        STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT
        OF
        1934
 OR
 x  **ANNUAL
        REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES** **EXCHANGE
        ACT OF 1934**
 **FOR
        THE FISCAL YEAR ENDED MARCH 31, 2005**
 OR
 o TRANSITION
        REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
        1934
        For the transition period from ______ to _______
 OR
 o SHELL
        COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
        ACT OF
        1934
  COMMISSION
        FILE NUMBER: **0-30520**
 
 **GLOBAL
        IMMUNE TECHNOLOGIES INC.**
 (formerly
        SECUREVIEW SYSTEMS INC.)
 
 (Exact
        name of registrant as specified in its charter)
 
 British
        Columbia, Canada
 (Jurisdiction
        of incorporation or organization)
 
 TH
        B -
        1199 Marinaside Crescent, Vancouver, British Columbia, Canada, V6Z
        2Y2
 (Address
        of principal executive offices)
 
  Securities
        to be registered pursuant to Section 12(b) of the Act
 (Title
                  of each class)
              (Name
                  of each exchange on which registered)**None**
              **Not
                  applicable**
 
 Securities
        to be registered pursuant to Section 12(g) of the Act
 **COMMON
        SHARES WITHOUT PAR VALUE**
 (Title
        of
        Class)
 
 Securities
        for which there is a reporting obligation pursuant to Section 15(d) of the
        Act.
 **NONE**
 (Title
        of
        Class)
 
 Indicate
        the number of outstanding shares of each of the issuer's classes of capital
        or
        common stock as of the close of the period covered by the annual
        report.
 **16,195,642
        COMMON SHARES AS AT MARCH 31, 2005**
 
 Indicate
        by check mark whether the registrant (1) has filed all reports required to
        be
        filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during
        the
        preceding 12 months (or for such shorter period that the registrant was required
        to file such reports), and (2) has been subject to such filing requirements
        for
        the past 90 days.
 **YES:** **x** NO:  ̈
 Indicate
        by checkmark which financial statement item the registrant has elected to
        follow:
 ITEM
        17: **ITEM
        18:** **x**
 
 If
        this
        is an annual report, indicate by check mark whether the registrant is a shell
        company (as defined in Rule 12b-2 of the Exchange Act).
 YES:  ̈  **NO:** **x**
  
 
 
 FORWARD
        LOOKING STATEMENTS
 
 Global
        Immune Technologies Inc. (formerly Secureview Systems Inc.) (the "COMPANY")
        cautions readers that certain important factors (including, without limitation,
        those set forth in this Form 20-F) may affect the Company's actual results
        and
        could cause such results to differ materially from any forward-looking
        statements that may be deemed to have been made in this Form 20-F annual
        report
        (the "ANNUAL REPORT"), or that are otherwise made by or on behalf of the
        Company. For this purpose any statements contained in this Annual Report
        that
        are not statements of historical fact may be deemed to be forward- looking
        statements. Without limiting the generality of the foregoing, words such
        as
        "may," "except," "believe," "anticipate," "intend," "could," "estimate" or
        "continue" or the negative or other variations of comparable terminology,
        are
        intended to identify forward-looking statements. In this Annual Report, unless
        otherwise specified, all monetary amounts are expressed in Canadian dollars.
        See
        also "KEY INFORMATION - SELECTED FINANCIAL DATA - EXCHANGE RATES".
 
 **PART
        1**
 
 ITEM
                  1  -
              **IDENTITY
                  OF DIRECTORS, SENIOR MANAGEMENT AND
                  ADVISERS**
 
 **A.** Directors and senior management
 See
        Item
        4.C.
 
 **B.** Advisers
 Principal
        banker:
 VanCity
        Credit Union
 Pender
        and Hornby, 898 Pender Street, Vancouver, B.C., Canada V6C 1J8
 
 **C.** Auditors
 Smythe
        Ratcliffe
 7 th Floor -
        Marine Building
 355
        Burrard Street, Vancouver B.C., Canada V6C 2G8
 
 ITEM
                  2**-**
              **OFFER
                  STATISTICS AND EXPECTED
                  TIMETABLE**
 
 **A.** OFFER
        STATISTICS
 
 Not
        applicable to annual report
 
 **B.** METHOD
        AND EXPECTED TIMETABLE
 
 Not
        applicable to annual report
 
 ITEM
                  3**-**
              **KEY
                  INFORMATION**
 
 **A.** SELECTED
        FINANCIAL INFORMATION
 
 The
        selected financial and other data set forth below should be read in conjunction
        with the audited financial statements of Global Immune Technologies Inc.
        (formerly Secureview Systems Inc.) as of March 31, 2005, 2004 and 2003 including
        the notes thereto, and "Item 5 - Operating and Financial Review and Prospects"
        included in this annual report. The selected financial data set forth below
        for
        the fiscal year ended March 31, 2005 are derived from the audited financial
        statements of the Company, which have been audited by Smythe Ratcliffe,
        chartered accountants. Data for 2004 and 2003 is derived from the audited
        financial statements reported on by the Company’s former auditors. Our financial
        statements are compiled in Canadian dollars and presented in accordance with
        accounting principles generally accepted in Canada. See Item 18 for differences
        between Canadian and United States Generally Accepted Accounting
        Principles.
 
 See
        also
        Managements' Discussion and Analysis of Financial Conditions and Results
        of
        Operations for comparability of financial results.
 
 Net
        Loss
        per share is calculated based on the weighted average number of shares
        outstanding during the year. Fully diluted loss per share is not disclosed
        as it
        is anti-dilutive.
  -2-
 
 **STATEMENT
                  OF OPERATIONS**(Canadian
                  dollars)**Select
                  information**Years
                  ended March 312005
              
              2004
              
              2003
              
              2002
              
              2001Revenue
              
              $
              0
              
              $
              0
              
              $
              0
              
              $
              0
              
              $
              0Operating
                  expensesGeneral
                  & administration
              
              
              (98,728
              )
              
              (299,548
              )
              
              (160,117
              )
              
              (956,378
              )
              
              (668,858
              )Forgiveness
                  of debt
              
              
              144,728
              
              
              0
              
              
              50,000Legal
                  settlement
              
              
              165,000
              
              
              0
              
              
              0Gain
                  from sale of mineral rights
              
              
              0
              
              
              149,999
              
              
              0Loss
                  from discontinued operations
              
              
              0
              
              
              0
              
              
              0
              
              
              0
              
              
              (181,306
              )Write-off
                  of equipment
              
              
              (1,623
              )
              
              0
              
              
              0
              
              
              0
              
              
              0Write-off
                  of interest and loan receivable
              
              
              (150,000
              )
              
              0
              
              
              12,446
              
              
              0
              
              
              0Net
                  income (loss)
              
              $
              59,377
              
              $
              (149,549
              )
              $
              (122,563
              )
              $
              (956,378
              )
              $
              (850,164
              )Weighted
                  average number of common shares
              
              
              16,195,642
              
              
              14,995,642
              
              
              9,275,509
              
              
              10,545,103
              
              
              5,833,519Basic
                  and diluted income (loss) per common share
              
              $
              0.01
              
              $
              (0.01
              )
              $
              (0.01
              )
              $
              (0.09
              )
              $
              (0.15
              )
 
 
 **BALANCE
          SHEETS** (Canadian dollars) as of March 31, 2005, 2004 and 2003
 Select
                  information2005
              
              2004
              
              2003
              
              2002
              
              2001Cash
                  and cash equivalents
              
              $
              0
              
              $
              2,580
              
              $
              312
              
              $
              19,199
              
              $
              9,530Prepaids
                  and sundry
              
              
              10,155
              
              
              5,157
              
              
              1,687
              
              
              19,390
              
              
              4,004Total
                  current assets
              
              
              10,155
              
              
              7,737
              
              
              1,999
              
              
              38,589
              
              
              13,534Equipment
                  - net
              
              
              0
              
              
              1,623
              
              
              1,754
              
              
              2,506
              
              
              3,985Loan
                  receivable
              
              
              0
              
              
              150,000
              
              
              0
              
              
              0
              
              
              0Goodwill
              
              
              0
              
              
              1
              
              
              1
              
              
              1
              
              
              0Deferred
                  costs
              
              
              0
              
              
              0
              
              
              1
              
              
              1
              
              
              1Total
                  Assets
              
              $
              10,155
              
              $
              159,361
              
              $
              3,755
              
              $
              41,097
              
              $
              17,520Accounts
                  payable and accrued liabilities
              
              $
              216,861
              
              $
              298,985
              
              $
              136,352
              
              $
              158,665
              
              $
              13,141Due
                  to related party
              
              
              36,170
              
              
              30,970
              
              
              176,193
              
              
              81,805
              
              
              29,277Note
                  Payable
              
              
              206,086
              
              
              337,745
              
              
              125,000
              
              
              125,000
              
              
              0Shareholders'
                  deficiency
              
              
              (448,962
              )
              
              (508,339
              )
              
              (433,790
              )
              
              (324,373
              )
              
              (24,898
              )Total
                  Liabilities and Shareholders’ Equity
              
              $
              10,155
              
              $
              159,361
              
              $
              3,755
              
              $
              41,097
              
              $
              17,520
  -3-
 
 EXCHANGE
        RATES
 In
        this
        Annual Report, unless otherwise specified, all dollar amounts are specified
        in **Canadian
        dollars** .
        Since
        June 1, 1970, the Government of Canada has permitted a floating exchange
        rate to
        determine the value of the Canadian dollar against the U.S. dollar. The high
        and
        low exchange rates, the average rates (average of the exchange rates on the
        last
        day of each month during the period) and the end of the period rates for
        Canadian dollars, expressed in U.S. dollars, from April 1, 2001 to March
        31,
        2005, based on the noon buying rate payable in Canadian dollars as certified
        for
        customs purposes by the central Bank of Canada, were as follows:
 
 U.S.
                  Dollars per $1.00 CDN Year ended March 31,2005
              
              
              2004
              
              
              2003
              
              
              2002
              
              
              2001High
              
              
              .8267
              
              
              .6822
              
              
              .6618
              
              
              .6696
              
              
              .6738Low
              
              
              .8057
              
              
              .6252
              
              
              .6207
              
              
              .6367
              
              
              .6417Average
              
              
              .8143
              
              
              .6473
              
              
              .6409
              
              
              .6542
              
              
              .6967End
                  of Period
              
              
              .8267
              
              
              .6805
              
              
              .6326
              
              
              .6367
              
              
              .6669
 
 **B.** CAPITALIZATION AND INDEBTEDNESS
 
 Not
        applicable
 
 **C.** REASONS
        FOR THE OFFER AND USE OF PROCEEDS
 
 Not
        applicable
 
 **D.** RISK
        FACTORS
 
 THERE
        ARE
        SIGNIFICANT RISKS ASSOCIATED WITH AN INVESTMENT IN OUR COMMON STOCK. BEFORE
        MAKING A DECISION CONCERNING THE PURCHASE OF OUR SECURITIES, YOU SHOULD
        CAREFULLY CONSIDER THE FOLLOWING FACTORS AND OTHER INFORMATION IN THIS ANNUAL
        REPORT WHEN YOU EVALUATE OUR BUSINESS.
 
 BUSINESS
        RISKS
 
 LACK
        OF
        BUSINESS HISTORY AND PROFITABILITY OF OPERATIONS
 The
        Company is not currently operating profitably and it should be anticipated
        that
        it will operate at a loss at least until such time as a business prospect
        is
        identified and profitability is achieved, if profitability is, in fact, ever
        achieved. The Company has never earned a significant profit.
  CURRENCY/EXCHANGE
        RATE RISK
 The
        Company anticipates its revenues, if any, to be earned in U.S. dollars; however,
        it is expected that the majority of costs will be incurred and paid in Canadian
        dollars. Exchange rate fluctuations could have an adverse effect on the
        Company's financial position.
 
 DEPENDENCE
        ON KEY MANAGEMENT
 The
        success of the operations and activities of the Company is dependent to a
        significant extent on the efforts and abilities of its management. The loss
        of
        services of any of its Management could have a material adverse effect on
        the
        Company. The Company does not maintain key man insurance on any of its
        management. The Company does not have any employment or labor agreements
        with
        any personnel as at the date of the filing of this Annual Report.
 
 INVESTMENT
        RISKS
 
 OUR
        ISSUANCE OF ADDITIONAL SHARES MAY HAVE THE EFFECT OF DILUTING THE INTEREST
        OF
        SHAREHOLDERS; OUR COMMON STOCK SHAREHOLDERS DO NOT HAVE PREEMPTIVE RIGHTS.
 Any
        additional issuances of common stock by us from our authorized but unissued
        shares may have the effect of diluting the percentage interest of existing
        shareholders. The securities issued to raise funds may have rights, preferences
        or privileges that are senior to those of the holders of our other securities,
        including our common stock. The board of directors has the power to issue
        such
        shares without shareholder approval. We fully intend to issue additional
        common
        shares in order to raise capital to fund our business operations and growth
        objectives.
  -4-
  WE
        DO NOT
        ANTICIPATE PAYING DIVIDENDS TO COMMON STOCKHOLDERS IN THE FORESEEABLE FUTURE,
        WHICH MAKES INVESTMENT IN OUR STOCK SPECULATIVE OR RISKY.
 We
        have
        not paid dividends on our common stock and do not anticipate paying dividends
        on
        our common stock in the foreseeable future. The board of directors has sole
        authority to declare dividends payable to our stockholders. The fact that
        we
        have not and do not plan to pay dividends indicates that we must use all
        of our
        funds generated by operations for reinvestment in our business activities.
        Investors also must evaluate an investment in PBI solely on the basis of
        anticipated capital gains.
 
 LIMITED
        LIABILITY OF OUR EXECUTIVE OFFICERS AND DIRECTORS MAY DISCOURAGE SHAREHOLDERS
        FROM BRINGING A LAWSUIT AGAINST THEM.
 Our
        Memorandum and Articles of Incorporation contain provisions that limit the
        liability of our directors for monetary damages and provide for indemnification
        of officers and directors. These provisions may discourage shareholders from
        bringing a lawsuit against officers and directors for breaches of fiduciary
        duty
        and may reduce the likelihood of derivative litigation against officers and
        directors even though such action, if successful, might otherwise have benefited
        the shareholders. In addition, a shareholder's investment in PBI may be
        adversely affected to the extent that we pay costs of settlement and damage
        awards against officers or directors pursuant to the indemnification provisions
        of the bylaw. The impact on a shareholder's investment in terms of the cost
        of
        defending a lawsuit may deter the shareholder from bringing suit against
        any of
        our officers or directors. We have been advised that the SEC takes the position
        that these article and bylaw provisions do not affect the liability of any
        director under applicable federal and state securities laws.
 
 SINCE
        WE
        ARE A CANADIAN COMPANY AND MOST OF OUR ASSETS AND KEY PERSONNEL ARE LOCATED
        OUTSIDE THE UNITED STATES OF AMERICA, YOU MAY NOT BE ABLE TO ENFORCE ANY
        UNITED
        STATES JUDGMENT FOR CLAIMS YOU MAY BRING AGAINST US, OUR ASSETS, OUR KEY
        PERSONNEL OR THE EXPERTS NAMED IN THIS DOCUMENT.
 We
        have
        been organized under the laws of Canada. Many of our assets are located outside
        the United States. In addition, a majority of the members of our board of
        directors and our officers and the experts named in this document are residents
        of countries other than the United States. As a result, it may be impossible
        for
        you to effect service of process within the United States upon us, or these
        persons or to enforce against us, or these persons any judgments in civil
        and
        commercial matters, including judgments under United States federal securities
        laws. In addition, a Canadian court may not permit you to bring an original
        action in Canada or to enforce in Canada a judgment of a U.S. court based
        upon
        civil liability provisions of U.S. federal securities laws.
 
 RISK
        OF
        "PENNY STOCK"
 The
        Company's common shares may be deemed to be "penny stock" as that term is
        defined in REGULATION Section "240.3a51-1" of the Securities Exchange Act
        of
        1934 (the "ACT"). Penny stocks are stocks: (a) with a price of less than
        U.S.
        $5.00 per share; (b) that are not traded on a "recognized" national exchange;
        (c) whose prices are not quoted on the NASDAQ automated quotation system
        (NASDAQ
        - where listed stocks must still meet requirement (a) above); or (d) in issuers
        with net tangible assets of less than U.S. $2,000,000 (if the issuer has
        been in
        continuous operation for at least three years) or U.S. $5,000,000 (if in
        continuous operation for less than three years), or with average revenues
        of
        less than U.S. $6,000,000 for the last three years.
 
 Section
        "15(g)" of the United States SECURITIES EXCHANGE ACT OF 1934, as amended,
        and
        REGULATION Section "240.15g(c)2" of the ACT require broker dealers dealing
        in
        penny stocks to provide potential investors with a document disclosing the
        risks
        of penny stocks and to obtain a manually signed and dated written receipt
        of the
        document before effecting any transaction in a penny stock for the investor's
        account. Potential investors in the Company's common shares are urged to
        obtain
        and read such disclosure carefully before purchasing any common shares that
        are
        deemed to be "penny stock".
 
 Moreover,
        REGULATION Section "240.15g-9" of the ACT requires broker dealers in penny
        stocks to approve the account of any investor for transactions in such stocks
        before selling any penny stock to that investor. This procedure requires
        the
        broker dealer to: (a) obtain from the investor information concerning his
        or her
        financial situation, investment experience and investment objectives; (b)
        reasonably determine, based on that information, that transactions in penny
        stocks are suitable for the investor and that the investor has sufficient
        knowledge and experience as to be reasonably capable of evaluating the risks
        of
        penny stock transactions; (c) provide the investor with a written statement
        setting forth the basis on which the broker dealer made the determination
        in
        (ii) above; and (d) receive a signed and dated copy of such statement from
        the
        investor confirming that it accurately reflects the investor's financial
        situation, investment experience and investment objectives. Compliance with
        these requirements may make it more difficult for investors in the Company's
        common shares to resell their common shares to third parties or to otherwise
        dispose of them.
  -5-
 
 FORWARD
        LOOKING STATEMENTS
 This
        document contains forward-looking statements. We intend to identify
        forward-looking statements in this document using words such as "anticipates",
        "will", "believes", "plans", "expects", "future", "intends" or similar
        expressions. These statements are based on our beliefs as well as assumptions
        we
        made using information currently available to us. Because these statements
        reflect our current views concerning future events, these statements involve
        risks, uncertainties and assumptions. Actual future results may differ
        significantly from the results discussed in the forward-looking statements.
        Some, but not all, of the factors that may cause these differences include
        those
        discussed in the Risk Factors section. You should not place undue reliance
        on
        these forward-looking statements.
 
 ITEM
                  4**-**
              **INFORMATION
                  ON THE COMPANY**
 
 **A.** HISTORY
        AND DEVELOPMENT OF THE COMPANY
 
 INCORPORATION
 The
        Company was incorporated on September 18, 1985, under the laws of the Province
        of British Columbia under the name of Canadian Comstock Exploration Ltd.
        with an
        authorized share capital of 20,000,000 shares without par value.
 The
        Company changed its name on June 7, 1995 to American Comstock Exploration
        Ltd.
        in connection with a consolidation of its share capital on a one for four
        basis.
 The
        Company changed its name again on February 4, 1998 to "International Comstock
        Exploration Ltd." in connection with a consolidation of its share capital
        on a
        one for five basis.
 The
        Company changed its name again on October 2, 2001 to "Secureview Systems
        Inc."
        in connection with a consolidation of its share capital on a one for five
        basis.
        In addition, the Company increased its authorized share capital to 100,000,000
        shares without par value on October 2, 2001.
 The
        Company changed its name again on May 2, 2005 to "Global Immune Technologies
        Inc." In addition, the Company increased its authorized share capital to
        an
        unlimited number of common shares without par value on March 23,
        2005.
 
 CORPORATE
        INFORMATION
 The
        Company's business address and executive offices are located at TH - B -
        1199
        Marinaside Crescent, Vancouver, British Columbia, Canada, V6Z 2Y2. The Company's
        telephone number is (604) 351-9443. The Company's agent for service in Canada
        is
        Miles Alperstein Law Corporation, located at Suite 1450, 1075 West Georgia
        Street, Vancouver, British Columbia, V6E 3C9, and who can be contacted at
        (604)
        682-0701 or via facsimile at (604) 484-0044.
 
 **B.** BUSINESS
        OVERVIEW
 
 From
        its
        incorporation in 1985 until 1999, the Company has been engaged in the business
        of exploration of natural resource properties. During 2004 the Company disposed
        of its final interests in its natural resource properties. In
        early
        1999 the Company initiated a search for other business opportunities culminating
        in May 1999 with the acquisition of the domain name ProSportsPool.com. In
        January 2000, the Company entered into an agreement with Internet Sports
        Network
        Inc. to develop and maintain a number of internet based games and contests.
        Internet Sports Network eventually developed "Fantasy Free for All" software
        and
        back end support for Nascar, Formula One, Cart series and Baseball and Hockey
        contests for ProSportsPool.com. The Company launched the ProSportsool.com
        website on March 1, 2000 with Formula 1 and NASCAR contests "Fantasy Free
        for
        All". The launch of the website was accompanied by a marketing campaign that
        included print, billboard, and internet-banner advertising. In March 21,
        2000,
        the Company engaged Iceberg Media.com Inc. to provide three music channels
        -
        1Groove.com, 2Kool4Radio.com and PrimeTicket.net - for the ProSportsPool.com
        website. The ProSportsPool.com website added a fantasy baseball contest,
        and an
        affiliation with Altavista.com on March 27, 2000. At the beginning of April
        2000, the Company launched its internet based hockey contest and announced
        its
        inaugural contest winners in its auto-racing contests. The Company also
        announced it has become an authorized member of the Cnet.com affiliate network
        and formed similar affiliations with Chipshot.com, Wrenchead.com, Quokka.com
        and
        America Online.
  -6-
 
 To
        increase awareness of the ProSportspool.com website, the Company participated
        at
        the G.I. Joe 200 CART race in Portland, Oregon as well as the Toronto and
        Vancouver Indy races by appearing at a booth at the races signing up contestants
        and offering prizes to entrants. On January 15, 2001, due to the closing
        of
        Internet Sports Network Inc., which provided the technical architecture and
        sports data for the ProSportsPool.com's sports contests, the Company was
        forced
        to discontinue its sports-contest site.
 
 During
        June 2001 and amended October, 2001 the Company entered into a letter of
        intent
        with Argent Resources Ltd., On-Track Computer Training Ltd., On-Track Computer
        International Ltd. and Lute Linux.com Corp. whereby Argent assigned its right
        to
        enter into a share exchange agreement with Lute who held the option to enter
        into a share exchange agreement with On-Track and On-Track International.
        In
        exchange for the assignment by Argent to the Company of the share exchange
        agreement entered into between Lute and Argent, the Company issued 2,000,000
        shares and paid $50,000 to Argent.
 
 During
        October 2001 the Company signed an agreement with Lute Linux.com Corp. including
        the exchange of Lute share purchase warrants for Company shares at a deemed
        value of $0.10 US per share, as to Russ Rossi (100,000 shares), RRGS Creative
        Management Corp. (2,400,000 shares) and Quest Ventures Ltd. (175,000 shares).
        The Company did not proceed with similar share purchase agreements with On-Track
        Computer Training Ltd. and On-Track Computer International Ltd. Lute focused
        its
        business development on its "Fedcam," an inexpensive remote monitoring system
        that allows subscribers to view their target locations via secure website.
        The
        Fedcam was being tested by the Canadian government's construction branch
        on its
        Osoyoos, British Columbia border crossing site into the United States. However,
        as of March 31, 2003, the Company ceased funding the Fedcam and the asset
        was
        written down to a nominal amount.
 
 In
        June
        2002 the Company entered into a letter of intent with Estwind Energy, a private
        power generation company incorporated in Estonia, whereby the Company intended
        to acquire all of the issued and outstanding shares of Estwind Energy. However,
        the Company decided against completing the share exchange agreement as the
        business of Estwind Energy was deemed to not be profitable.
 
 In
        May
        2003 the Company entered into a letter of intent with P-CE Computers, Inc.,
        a
        private Nevada corporation engaged in the business of developing ergonomic
        multimedia-computer workstations. The Company decided against completing
        the
        share exchange agreement as due diligence indicated that the business of
        P-CE
        Computers, Inc. would not be profitable.
 
 In
        September 2003 the Company entered into a letter of intent with TNR Resources
        Ltd. ("TNR"), a public British Columbia, Canada, corporation, to purchase
        a 50%
        working interest in TNR's Las Carachas property in Argentina. The Company
        did
        not pursue the option.
 
 In
        February 2005 the Company entered an agreement to acquire the rights and
        interests in a drug, Trioxolane. The Company did not pursue or complete this
        acquisition.
 
 Subsequently
        to March 31, 2005, the Company has agreed to purchase WSG Systems Inc., (“WSG”)
        its' business and assets from Global Lottery Corporation for the issuance
        of
        100,000,000 shares of common stock. The assets of WSG include proprietary
        technology, software, its trade names and trademarks as those products pertain
        to the worldwide lottery industry and/or worldwide pari-mutual betting. The
        products are designed to be used by all entities in the industry for conducting
        lotteries and or pari-mutual betting, including corporations and/or governmental
        agencies representing countries, provinces, states, etc. to implement and/or
        to
        improve their lottery and/or pari-mutual betting systems. The Company has
        also
        committed to completing two financings totaling US$22million, subject to
        market
        conditions, to be used to manufacture and install lottery and/or pari-mutual
        betting systems currently under bid by WSG and predicated upon winning the
        bid.
 
 CASH
        RESOURCES AND LIQUIDITY
 As
        of
        March 31, 2005, the Company had $nil cash (2004 - $2,580) and
 a
        working
        capital deficiency of $448,962 (2004 - $659,963).
 
 STATED
        BUSINESS OBJECTIVES
 The
        Company is seeking appropriate business opportunities and will pursue the
        acquisition thereof as opportunities are identified.
  -7-
  PRINCIPAL
        PRODUCTS
 None.
 
 **C.** ORGANIZATIONAL STRUCTURE
 
 The
        Company is not part of a group and has no subsidiaries at this
        time.
 
 **D.** PROPERTY, PLANT AND EQUIPMENT
 
 OFFICE
        SPACE
 The
        Company is looking for suitable office space and expects to be re located
        October 1, 2005.
 
 ITEM
                5 **-**
              **OPERATING
                  AND FINANCIAL REVIEW AND
                  PROSPECTS**
 
 **A.** OPERATING RESULTS
 
 The
        following discussion and analysis is based on and should be read in conjunction
        with the Company’s audited financial statements including the notes thereto and
        other financial information appearing elsewhere herein. The audited financial
        statements have been prepared using Canadian dollars and are presented in
        accordance with accounting principles generally accepted in Canada.
 
 U.S.
        AND
        CANADIAN GAAP DIFFERENCES
 The
        financial statements have been prepared in accordance with Canadian GAAP,
        which
        conform in all material respects with those of the US and are disclosed in
        note
        3 to the audited financial statements of the Company for March 31, 2005 and
        2004.
 
 RESULTS
        OF OPERATIONS - YEAR TO YEAR COMPARISONS BETWEEN 2005 AND 2004
 For
        the
        year ended March 31, 2005 the Company achieved sales revenues of $nil compared
        with sales revenues of $nil for the period ended March 31, 2004. The Company's
        net income for the year was $59,377 in 2005 compared to a loss of $(149,549)
        in
        2004. Such increase in the net income was due primarily to the forgiveness
        of
        debt of $144,728 and the legal settlement for $165,000, where both occurrences
        are expected to be one time only and are not expected to occur normally in
        the
        due course of the Company’s business (2004 - $nil; 2003 - $nil). As of the year
        ended March 31, 2005, the Company had an accumulated stockholders’ deficiency of
        $(448,962). The current year’s contribution to the deficit was financed in part
        by the $309,728 in forgiveness of debts and legal settlement.
 
 **B.** LIQUIDITY AND CAPITAL RESOURCES
 
 YEAR
        ENDED MARCH 31, 2005 COMPARED WITH THE YEAR ENDED MARCH 31, 2004
 The
        Company's total assets decreased from $159,361 in 2004 to $10,155  in
        2005.
 
 The
        Company's overall liabilities decreased from $667,700 in 2004 to $459,117
        in
        2005 largely as a result of the forgiveness of debt and legal
        settlement.
 
 In
        2005,
        the working capital deficiency decreased to $(448,962) from a deficiency
        of
        $(659,963) in 2004.
 
 US
        GAAP
        VERSUS CANADIAN GAAP
 Under
        Canadian GAAP applicable to junior mining exploration companies, mineral
        exploration expenditures on prospective properties may be deferred until
        such
        time as it is determined that further exploration is not warranted, at which
        time the property costs are written-off. Under US GAAP, all exploration
        expenditures must be expensed until an independent feasibility study has
        determined that the property is capable of economic commercial
        production.
 
 There
        were no property costs incurred or written off during the 2005 or 2004 fiscal
        year and accordingly the differences between the allowable US and Canadian
        GAAP
        treatments of property costs would result in no change in net loss under
        U.S.
        GAAP from that reported under Canadian GAAP.
 
 LIQUIDITY
        AND CAPITAL RESOURCES
 The
        Company faced increasing difficulty in trying to raise new equity financing
        to
        support operations. During 2005 and 2004, the Company did not raise any funds
        from equity or debt financing activities and accordingly all current operations
        have been funded from the pre-existing reserves of cash raised in previous
        fiscal years and from trade accounts payable and related party debt. The
        Company
        continues to use its best efforts to raise funds and expects that it will
        require $45,000 to cover its minimum expenses to March 31,
        2006.
  -8-
 
 The
        Company has no residual capital commitment in respect to its discontinued
        operations and has no current capital commitments.
 
 Subsequently
        to March 31, 2005, the Company has agreed to purchase WSG Systems Inc., (“WSG”)
        its' business and assets from Global Lottery Corporation for the issuance
        of
        100,000,000 shares of common stock. The assets of WSG include proprietary
        technology, software, its trade names and trademarks as those products pertain
        to the worldwide lottery industry and/or worldwide pari-mutual betting. The
        products are designed to be used by all entities in the industry for conducting
        lotteries and or pari-mutual betting, including corporations and/or governmental
        agencies representing countries, provinces, states, etc. to implement and/or
        to
        improve their lottery and/or pari-mutual betting systems. The Company has
        also
        committed to completing two financings totaling US$22million, subject to
        market
        conditions, to be used to manufacture and install lottery and/or pari-mutual
        betting systems currently under bid by WSG and predicated upon winning the
        bid.
 
 **C.** RESEARCH
        AND DEVELOPMENT, PATENTS AND LICENSES, ETC.
 
 During
        the year ended March 31, 2005 the Company incurred $nil in expenditures for
        research and development, patents and licenses. It is the goal of the Company
        to
        continually make enhancements and improvements to any products it may be
        developing. Costs incurred to make routine enhancements, improvements, design
        changes to existing products and trouble shooting in production will be excluded
        from research and development expenses.
 
 **D.** TREND
        INFORMATION
 
 See
        Item
        4 B. Business Overview, Industry Overview
 
 **E.** OFF-BALANCE SHEET ARRANGEMENTS
 
 Not
        applicable
 
 **F.** TABULAR
        DISCLOSURE OF CONTRACTUAL OBLIGATIONS
 
 Payments
                  due (by period)Contractual
                  Obligations
              
              Total
              
              less
                      than one year
              
              1-3
                  years
              
              3-5
                  years
              
              more
                      than 5 yearsLong-term
                  debt obligations
              
              $
              nil
              
              $
              nil
              
              $
              nil
              
              $
              nil
              
              $
              nilDebentures
              
              $
              nil
              
              $
              nil
              
              $
              nil
              
              $
              nil
              
              $
              nilLong-term
                  accounts payable
              
              $
              nil
              
              $
              nil
              
              $
              nil
              
              $
              nil
              
              $
              nilContractual
                  Commitments
              
              $
              nil
              
              $
              nil
              
              $
              nil
              
              $
              nil
              
              $
              nilRetirement
                  and severanceindemnities
              
              $
              nil
              
              $
              nil
              
              
              unknown
              
              
              unknown
              
              
              unknown
 
 **G.** SAFE
        HARBOR
 
 Forward-looking
        statements
 This
        annual report contains forward-looking statements. We intend to identify
        forward-looking statements in this report using words such as "anticipates",
        "will", "believes", "plans", "expects", "future", "intends" or similar
        expressions. These statements are based on our beliefs as well as assumptions
        we
        made using information currently available to us. Because these statements
        reflect our current views concerning future events, these statements involve
        risks, uncertainties and assumptions. Actual future results may differ
        significantly from the results discussed in the forward-looking statements.
        Some, but not all, of the factors that may cause these differences include
        those
        discussed in the Risk Factors section. You should not place undue reliance
        on
        these forward-looking statements.
  -9-
 
 ITEM
                  6**-**
              **DIRECTORS,
                  SENIOR MANAGEMENT AND
                  EMPLOYEES**
 
 **A.** DIRECTORS AND SENIOR MANAGEMENT
 
 The
        following table sets forth the name, age, and position of each Director and
        Executive Officer of Global Immune Technologies Inc:
 
 NAME
              AGE
              POSITIONDonald
                  L. Perks
              53
              President,
                  acting CFOPiers
                  VanZiffle
              58
              Director
 
 The
        directors of the Company are elected by the shareholders at each annual general
        meeting of the Company, or, in the event of a vacancy, they are appointed
        by the
        Board of Directors then in office, to serve until the next annual general
        meeting of the Company or until their successors are elected and ratified.
        The
        Company's executive officers are appointed by the Board of Directors and
        serve
        at the discretion of the Board of Directors.
 
 There
        are
        no arrangements or understandings between the directors and officers of Global
        Immune Technologies Inc. and any other person pursuant to which any director
        or
        officer was or is to be selected as a director or officer. In addition, there
        are no agreements or understandings for the officers or directors to resign
        at
        the request of another person and the above-named officers and directors
        are not
        acting on behalf of nor acting at the direction of any other
        person.
 
 The
        following summary outlines the professional background of the directors and
        executive officers of the Company.
 
 Donald
        Perks, President and acting CFO, is an independent businessman and is a
        self-employed Business Consultant. Mr. Perks founded Canada Pay Phone and
        was
        active in the success of that company from 1994 to 2001. He has been actively
        managing Global Immune Technologies Inc. since 2003.
 
 Piers
        VanZiffle, Director, is an independent businessman and has been a self-employed
        Business Consultant for the past eight years.
 
 SUMMARY
        OF TRANSITION OF BOARD OF DIRECTORS
 Donald
        L.
        Perks: President/Director - elected at AGM September 17, 2003 - resigned
        May 9,
        2005 - appointed August 15, 2005
 Piers
        VanZiffle: **** Director
        - **** Appointed
        August 30, 2005
 
 FORMER
        DIRECTORS
 Dr.
        Stephen Herman: **** Chairman/Director
        - elected at AGM March 23, 2005 - resigned August 30, 2005
 James
        Herman: **** President/CEO/Director
        - elected at AGM March 23, 2005 - resigned August 30,2005
 Garth
        Jensen: **** CFO/Director
        - elected at AGM March 23, 2005 - resigned August 15, 2005
 Dr.
        M.S.
        Amouzou: **** Treasurer/
        Director - elected at AGM March 23, 2005 - resigned August 9, 2005
 Dr.
        F.
        Quevedo: **** Director
        - elected at AGM March 23, 2005 - resigned August 9, 2005
 Cindy
        Perks: **** Director
        - elected at AGM September 17, 2003 - not re-elected at 2004 AGM
 Anna
        Marie Cain: Secretary/Director - elected at AGM September 17, 2003 - not
        re-elected at 2004 AGM
 Jim
        Chapmen: **** Director
        - elected at AGM September 17, 2003 - not re-elected at 2004 AGM
 
 There
        are
        no family relationships between any director or officer and any other director
        or officer except for Don and Cindy Perks, who are married.
 
 AGGREGATE
        OWNERSHIP OF SECURITIES
 There
        are
        presently nil common shares of the Company owned by the Directors, Officers
        and
        promoters of the Company.
  -10-
 
 OTHER
        REPORTING ISSUERS
 The
        following Directors, Officers, promoters or other members of management of
        the
        Company have held a position as a director, officer, promoter or other member
        of
        management of other reporting issuers within the year prior to the date of
        this
        Annual Report: None
 
 INDIVIDUAL
        BANKRUPTCIES
 None
        of
        the Directors, Officers, promoters or members of management of the Company
        have,
        within the five years prior to the date of this Annual Report, been declared
        bankrupt or made a voluntary assignment in bankruptcy, made a proposal under
        any
        legislation relating to bankruptcy or insolvency, or been subject to or
        instituted any proceedings, arrangement or compromise with creditors, or
        had a
        receiver, receiver manager or trustee appointed to hold the assets of that
        individual.
 
 CONFLICTS
        OF INTEREST
 Some
        of
        the Directors and Officers of the Company also serve as directors and/or
        officers of other companies and may be presented from time to time with
        situations or opportunities giving rise to apparent conflicts of interest
        which
        cannot be resolved by arm's length negotiations but only through exercise
        by the
        Directors and Officers of such judgment as is consistent with their fiduciary
        duties to the Company which arise under British Columbia and Canadian corporate
        law, especially insofar as taking advantage, directly or indirectly, of
        information or opportunities acquired in their capacities as Directors or
        Officers of the Company. All conflicts of interest will be resolved in
        accordance with the appropriate business corporation statute. Any transactions
        with Directors and Officers will be on terms consistent with industry standards
        and sound business practices in accordance with the fiduciary duties of those
        persons to the Company and, depending upon the magnitude of the transactions
        and
        the absence of any disinterested board members, may be submitted to the
        shareholders for their approval.
 
 OTHER
        INFORMATION
 There
        are
        no family relationships between any of the Directors or Officers of the Company.
        The approximate percentage of business time that each Director and Officer
        expects to devote to the Company's business is approximately 15% of the working
        day, or, as much time as is required.
 
 **B.** COMPENSATION
 
 THE
        COMPANY'S EXECUTIVE COMPENSATION
 None
 
 The
        Company's fiscal year end is the 31st day of March. Pursuant to Form 41 of
        the
        SECURITIES RULES (British Columbia), the Company is a "small business issuer",
        which is defined as a company that:
 -
        had
        revenues of less than $25,000,000 in its last completed financial
        year;
 -
        is not
        a non-redeemable investment fund or mutual fund;
 -
        has a
        public float of less than $25,000,000; and
 -
        if it
        is a subsidiary of another company, that other company is also a small business
        issuer.
 
 The
        Company has created three Executive Offices, namely that of President, Chief
        Financial Officer and Secretary. In this regard the Company's named Executive
        Officers (collectively, the "NAMED EXECUTIVE OFFICERS") are as
        follows:
 
 Donald
        Perks - Mr. Perks was originally appointed the President of the Company on
        August 29, 2003 and currently is the President and acting Chief Financial
        Officer. The office of Secretary remained vacant at the date of this
        report.
 
 For
        the
        purpose of this Annual Report, except as otherwise expressly provided or
        unless
        the context otherwise requires, the following words and phrases shall have
        the
        following meanings:
 
 "EQUITY
        SECURITY" means securities of a company that carry a residual right to
        participate in earnings of that company and, upon liquidation or winding
        up of
        that company, its assets;
 
 "OPTION"
        means all options, share purchase warrants and rights granted by a company
        or
        any of its subsidiaries (if any) as compensation for services rendered or
        otherwise in connection with office or employment;
 
 "LTIP"
        means a long-term incentive plan, which is any plan providing compensation
        intended to serve as incentive for performance to occur over a period longer
        than one financial year, whether the performance is measured by reference
        to
        financial performance of the company or an affiliate of the company, the
        price
        for the company's securities, or any other measure, but does not include
        Option
        or SAR plans or plans for compensation through restricted shares or restricted
        share units; and
  -11-
 
 "SAR"
        means stock appreciation right, which is a right granted by a company or
        any of
        its subsidiaries (if any) as condensation for services rendered or otherwise
        in
        connection with office or employment to receive a payment of cash or an issue
        or
        transfer of securities based wholly or in part on changes in the trading
        price
        of publicly traded securities.
 
 The
        following table details the compensation paid to the Company's Named Executive
        Officers during the fiscal year ended March 31, 2005:
 None
 
 The
        Company anticipates that compensation will be provided by the Company during
        the
        Company's next financial year to certain of the Named Executive Officers
        of the
        Company and in conjunction with certain management and administrative services
        to be provided to the Company by such Named Executive Officers or their
        successors.
  LONG
        TERM
        INCENTIVE PLANS - AWARDS IN MOST RECENTLY COMPLETED FINANCIAL YEAR
 During
        its most recently completed financial year, and for the two previously completed
        financial years, the Company has not awarded or instituted any LTIPs in favour
        of its Named Executive Officers.
 
 OPTIONS/SAR
        GRANTS DURING THE MOST RECENTLY COMPLETED FINANCIAL YEAR
 No
        individual grants of Options to purchase or acquire securities of the Company
        or
        any of its subsidiaries (whether or not in tandem with SARs) or any freestanding
        SARs were granted or were in effect and in favour of any of the Company's
        Named
        Executive Officers during the Company's most recently completed financial
        year.
 
 AGGREGATE
        OPTIONS/SAR EXERCISES DURING THE MOST RECENTLY COMPLETED FINANCIAL YEAR AND
        FINANCIAL YEAR-END OPTION/SAR VALUE
 None
 
 DEFINED
        BENEFIT PLANS
 The
        Company does not have, and at no time during its most recently completed
        financial year had, any defined benefit or actuarial plans in respect of
        which
        any of its Named Executive Officers were eligible to participate.
 
 COMPENSATION
        OF THE COMPANY'S DIRECTORS
 None
 
 MANAGEMENT
        CONTRACTS
 None
 
 **C.** BOARD
        PRACTICES
 
 The
        Board
        of Directors meets periodically to set policy and review the progress of
        the
        Company as well as review and approve budgets and expenditures.
 
 The
        Directors of the Company are elected by the shareholders at each annual general
        meeting of the Company, or, in the event of a vacancy, they are appointed
        by the
        Board of Directors then in office, to serve until the next annual general
        meeting of the Company or until their successors are elected and
        ratified.
 
 The
        Company's executive officers are appointed by the Board of Directors and
        serve
        at the discretion of the Board of Directors
 
 **D.** EMPLOYEES
 
 As
        of
        March 31, 2005 the Company had no full-time employees.
 
 **E.** SHARE
        OWNERSHIP
  -12-
 
 DIRECTORS
        AND OFFICERS
 The
        share
        ownership in the Company held directly or indirectly by the Directors and
        Executive Officers of the Company are as indicated in the table
        below:
 None
 
 PUBLIC
        AND INSIDER OWNERSHIP
 As
        of
        March 31, 2005 the directors, officers and insiders of the Company hold an
        aggregate of nil common shares of the Company on a non-fully diluted basis,
        being 0% of the then issued and outstanding common shares of the Company,
        as
        opposed to the public owning an aggregate of 16,195,645 common shares of
        the
        Company, or 100% of the then issued and outstanding common shares of the
        Company.
 
 ITEM
                  7**-**
              **MAJOR
                  SHAREHOLDERS AND RELATED PARTY
                  TRANSACTIONS**
 
 **A.** MAJOR
        SHAREHOLDERS
 
 To
        the
        knowledge of management of the Company, as at March 31, 2005 the following
        parties beneficially own directly or indirectly or exercise control or direction
        over common shares carrying 5% or more of the voting rights attached to any
        class of voting securities of the Company:
 
 AZIMUTH
                  CORPORATIONPO
                  BOX 3936ST
                  ANDREWS NB E5B 3S7 CAN
              1,000,000CAPITAL
                  ASSOCIATES828
                  WEST 7THVANCOUVER
                  BC V5Z 1C1 CAN
              2,500,000CDS
                  & CO (NCI) (1)PO
                  BOX 1038 STN A 25 THE ESPLANADETORONTO
                  ONM5W
                  1G5 CAN
              6,144,854DENBIGH,
                  JUNE16125
                  109 A AVESURREY
                  BC V4N 3N8 CAN
              1,112,044DEWONCK,
                  JUSTIN11931
                  DUNFORD RDRICHMOND
                  BC V7E 3M6 CAN
              1,174,544J
                  & J RENTALS INCPO
                  BOX 683MIRAMICHI
                  NB E1V 3T7 CAN
              1,000,000RRGS
                  CREATIVE MANAGEMENT CORP650
                  WEST GEORGIA ST #1600VANCOUVER
                  BC V6B 4N7 CAN
              2,000,000
 
 Notes:
 (1)
        The
        Company is informed that this shareholder is a share depository, the beneficial
        ownership of which is unknown to the Company.
 (2)
        This
        information was provided to the Company by Pacific Corporate Trust Company,
        its
        registrar and transfer agent.
 
 All
        the
        shareholders of the Company have the same voting rights. To the best of the
        Company's knowledge, the Company is not owned or controlled, directly or
        indirectly, by another corporation or by any foreign
        government.
  -13-
 
 **B.** RELATED
        PARTY TRANSACTIONS
 
 None
        of
        the current Directors or Officers of the Company nor any associate or affiliate
        of the foregoing persons, has any material interest, direct or indirect,
        in any
        transactions of the Company or in any proposed transaction which, in either
        case, has or will materially affect the Company.
 
 **C.** INTERESTS OF EXPERTS AND COUNSEL
 
 This
        section is not applicable to the Company.
 
 ITEM
                  8**-**
              **FINANCIAL
                  INFORMATION**
 
 **A.** FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION
 
 The
        audited financial statements for the Company for the fiscal years ending
        March
        31, 2005 and 2004 form a material part of this Annual Report. See Item "19"
        herein below.
 
 **B.** SIGNIFICANT CHANGES
 
 There
        have not been any significant changes in the Company since the date of the
        most
        recent interim financial statements other than those disclosed in this Annual
        Report.
 
 ITEM
                  9  -
              **THE
                  OFFERING AND LISTING**
 
 **A.** OFFER
        AND LISTING DETAILS
 
 Not
        applicable - this Annual Report does not relate to any offering of the Company's
        shares.
 
 **B.** PLAN OF
        DISTRIBUTION
 
 Not
        applicable - this Annual Report does not relate to any offering of the Company's
        shares.
 
 **C.** MARKETS
 
 The
        Company's shares were traded on the Canadian Venture Exchange (now the TSX
        Venture Exchange) until May 11, 2001. In addition, the Company's shares have
        been quoted for trading on the NASD Over-the-Counter Bulletin Board (the
        "OTCBB") since February 6, 2001.
 
 **D.** SELLING
        SHAREHOLDERS
 
 Not
        applicable - this Annual Report does not relate to any offering of the Company's
        shares.
 
 **E.** DILUTION
 
 Not
        applicable - this Annual Report does not relate to any offering of the Company's
        shares.
 
 **F.** EXPENSES
        OF THE ISSUE
 
 Not
        applicable - this Annual Report does not relate to any offering of the Company's
        shares.
 
 ITEM
                10  **-**
              **ADDITIONAL
                  INFORMATION**
 
 **A.** SHARE
        CAPITAL
 
 This
        section is not applicable to the Company as this is an Annual
 Report.
  -14-
 
 **B.** MEMORANDUM AND ARTICLES OF ASSOCIATION
 
 This
        information is incorporated by reference to the Form 20-F Registration Statement
        that was filed with the SEC on January 28, 2000.
 
 DISCLOSURE
        OF INTEREST OF DIRECTORS
 A
        Director of the Company who is a party to a material contract or proposed
        material contract with the Company, or is a director of, or has a material
        interest in, any person who is a party to a material contract or proposed
        material contract with the Company shall disclose the nature and extent of
        his
        interest at the time and in the manner provided in the COMPANY ACT (British
        Columbia) (herein, only, the "ACT"). Except as provided in the Act, no such
        Director or Officer of the Company shall vote on any resolution to approve
        such
        contracts but each such director may be counted to determine the presence
        of a
        quorum at the meeting of Directors where such vote is being taken if provided
        for in the Articles of Association.
 
 The
        Company's Articles of Association provide as follows:
 15.1
        A
        director who is, in any way, directly or indirectly, interested in a proposed
        contract or transaction with the Company or who holds any office or possesses
        any property whereby, directly or indirectly, a duty or interest might be
        created to conflict with his duty or interest as a Director shall declare
        the
        nature and extent of his interest in such contract or transaction or of the
        conflict or potential conflict with his duty and interest as a Director,
        as the
        case may be, in accordance with the provisions of the Company Act.
 
 15.2
        A
        Director shall not vote in respect of any such contract or transaction with
        the
        Company in which he is interested and if he shall do so his vote shall not
        be
        counted, but he shall be counted in the quorum present at the meeting at
        which
        such vote is taken. Subject to the provisions of the Company Act, the foregoing
        prohibitions shall not apply to:
 (i)
        any
        such contract or transaction relating to a loan to the Company, which a Director
        or a specified corporation or a specified firm in which he has an interest
        has
        guaranteed or joined in guaranteeing the repayment of the loan or any part
        of
        the loan;
 (ii)
        any
        contract or transaction made or to be made with, or for the benefit of an
        affiliated corporation of which a Director is a director or
        officer;
 (iii)
        determining the remuneration of the Directors;
 (iv)
        purchasing and maintaining insurance to cover Directors against liability
        incurred by them as Directors under section 152 of the Company Act;
        or
 (v)
        the
        indemnification of any Director by the Company under Section 152 of the Company
        Act."
 
 SHAREHOLDINGS
        OF DIRECTORS
 The
        Company's Articles of Association provide as follows:
 12.3
        "A
        director shall not be required to hold a share in the capital of the Company
        as
        qualification for his office but shall be qualified as required by the Company
        Act, to become or act as a Director."
 
 RIGHTS,
        PREFERENCES AND RESTRICTIONS ATTACHING TO EACH CLASS OF SHARES
 The
        common shares of the Company contain all the rights including:
 (a)
        the
        right to vote at any meeting of shareholders;
 (b)
        the
        right to receive any dividend declared by the Company; and
 (c)
        the
        right to receive the remaining property of the Company on
        dissolution.
 
 There
        are
        no restrictions on the transfer of the Company's common shares.
 
 CHANGING
        THE RIGHTS OF HOLDERS OF THE COMPANY'S STOCK
 In
        order
        to change the rights of holders of the Company's stock, the shareholders
        of that
        class of the Company's stock must pass a special resolution by a majority
        of not
        less than three-quarters (3/4s) of the votes cast by the shareholders who
        voted
        in respect of that resolution or signed by all the shareholders entitled
        to vote
        on that resolution.
 
 ANNUAL
        GENERAL MEETINGS AND EXTRAORDINARY GENERAL MEETINGS
 Subject
        to the provisions of Section "146" of the Act, the annual general meeting
        of the
        shareholders shall be held on such day in each year and at such time as the
        Board of Directors may determine at any place within British Columbia, or
        at a
        place out of British Columbia the Registrar of Companies for British Columbia,
        on application made to the Registrar of Companies by a company,
        approves.
  -15-
 
 NOTICE
 Subject
        to the provisions of Sections "143" of the Act, every company
 Is
        required to give its shareholders not less than 21 days' notice of any general
        meeting of the company, but those shareholders may waive or reduce the period
        of
        notice for a particular meeting by unanimous consent in writing.
 
 QUORUM
 Subject
        to the provisions of Section "144" of the Act, the Company's Articles
        of Association provide as follows:
 "10.3
        Save as herein otherwise provided a quorum shall be two persons present and
        being, or representing by proxy, members holding not less than one-twentieth
        of
        the issued shares entitled to be voted at the meeting. If there is only one
        member the quorum is one person present and being, or representing by proxy,
        such member. The Directors, the Secretary or, in his absence, an Assistant
        Secretary, and the solicitor of the Company shall be entitled to attend at
        any
        general meeting but no such person shall be counted in the quorum or be entitled
        to vote at any general meeting unless he shall be a member or proxy holder
        entitled to vote thereat."
 
 LIMITATIONS
        ON THE RIGHT TO OWN SECURITIES
 There
        are
        no limits on the rights of non-residents or foreign shareholders to hold
        or
        exercise voting rights on the securities.
 
 **C.** MATERIAL
        CONTRACTS
 
 The
        only
        material contracts that the Company has entered into during the preceding
        two
        years are as described under the section captioned "Business Overview" under
        Item "4" hereinabove.
 
 **D.** EXCHANGE
        CONTROLS
 
 There
        is
        no law or government decree or regulation in Canada that restricts the export
        or
        import of capital, or that affects the remittance of dividends, interest
        or
        other payments to a non-resident holder of common shares, other than withholding
        tax requirements. See the section captioned "Taxation" herein
        below.
 
 There
        is
        no limitation imposed by Canadian law or by the Articles of Association or
        other
        charter documents of the Company on the right of a non-resident to hold or
        vote
        common shares of the Company, other than as provided in the INVESTMENT CANADA
        ACT (Canada), as amended (the "INVESTMENT ACT").
 
 The
        Investment Act generally prohibits implementation of a reviewable investment
        by
        an individual, government or agency thereof, corporation, partnership, trust
        or
        joint venture that is a "non-Canadian" as defined in the Investment Act,
        unless,
        after review the Minister responsible for the Investment Act is satisfied
        that
        the investment is likely to be of net benefit to Canada. If an investment
        by a
        non-Canadian is not a reviewable investment, it nevertheless requires the
        filing
        of a short notice given at any time up to 30 days after the implementation
        of
        the investment.
 
 An
        investment in common shares of the Company by a non-Canadian that is a "WTO
        INVESTOR" (an individual or other entity that is a national of, or has the
        right
        of permanent residence in, a member of the World Trade Organization, current
        members of which include the European Community, Germany, Japan, Mexico,
        the
        United Kingdom and the United States, or a WTO investor-controlled entity,
        as
        defined in the Investment Act) would be reviewable under the Investment Act
        if
        it were an investment to acquire direct control, through a purchase of assets
        or
        voting interests, of the Company and the value of the assets of the Company
        equaled or exceeded $218 million, the threshold established for 2001, as
        indicated on the financial statements of the Company for its fiscal year
        immediately preceding the implementation of the investment. In subsequent
        years,
        such threshold amount may be increased or decreased in accordance with the
        provisions of the Investment Act.
 
 An
        investment in common shares of the Company by a non-Canadian, other than
        a WTO
        investor, would be reviewable under the Investment Act if it were an investment
        to acquire direct control of the Company and the value of the assets were
        $5.0
        million or more, as indicated on the financial statements of the Company
        for its
        fiscal year immediately preceding the implementation of the
        investment.
 
 A
        non-Canadian, whether a WTO investor or otherwise, would acquire control
        of the
        Company for the purposes of the Investment Act if he, she or it acquired
        a
        majority of the common shares of the Company or acquired all or substantially
        all of the assets used in conjunction with the Company's
        business.
  -16-
 
 The
        acquisition of less than a majority, but one-third or more of the common
        shares
        of the Company, would be presumed to be an acquisition of control of the
        Company
        unless it could be established that the Company was not controlled in fact
        by
        the acquirer through the ownership of the common shares.
 
 The
        Investment Act would not apply to certain transactions in relation to common
        shares of the Company, including:
 (a)
        an
        acquisition of common shares of the Company by any person if the acquisition
        were made in the ordinary course of that person's business as a trader or
        dealer
        in securities;
 
 (b)
        an
        acquisition of control of the Company in connection with the realization
        of
        security granted for a loan or other financial assistance and not for any
        purpose related to the provisions of the Investment Act; and
 
 (c)
        an
        acquisition of control of the Company by reason of an amalgamation, merger,
        consolidation or corporate reorganization following which the ultimate direct
        or
        indirect control in fact of the Company, through the ownership of voting
        interests, remains unchanged.
 
 **E.** TAXATION
 The
        following comments summarizes the material Canadian Federal Income Tax
        consequences for a shareholder of the Company who is a non-resident of Canada
        and who is a resident of the United States. These comments are intended to
        provide only a brief outline and are not a substitute for advice from a
        shareholder's own tax advisor for the specific tax consequences to them as
        a
        result of their individual circumstances. They do not anticipate statutory
        or
        regulatory amendments. There is a reciprocal tax treaty between the United
        States and Canada.
 
 The
        provisions of the Income Tax Act (Canada) (the "Tax Act") are subject to
        income
        tax treaties to which Canada is a party, including the Canada-United States
        Income Tax Convention, 1980 (the "Convention").
 
 Under
        Article X of the Convention, dividends paid by Canadian corporations to
        non-resident U.S. shareholders are subject to a withholding tax of 15%. The
        rate
        of withholding tax on dividends is reduced to 5% if the beneficial owner
        is a
        U.S. company, which owns at least 10% of the voting stock of the company
        paying
        the dividend.
 
 A
        U.S.
        shareholder is not subject to tax under the Tax Act in respect of a capital
        gain
        realized on the disposition of a Common Share in the open market unless the
        share is "taxable Canadian property" to the shareholder thereof and the U.S.
        shareholder is not entitled to relief under the Treaty.
 
 A
        Common
        Share will be taxable Canadian property to a U.S. shareholder if, at any
        time
        during the 60 month period ending at the time of disposition, the U.S.
        shareholder or persons with whom the U.S. shareholder did not deal at arm's
        length owned, or had options, warrants or other rights to acquire, 25% or
        more
        of the Registrant's issued shares of any class or series. In the case of
        a U.S.
        shareholder to whom Common Shares represent taxable Canadian property, tax
        under
        the Tax Act will be payable on a capital gain realized on a disposition of
        such
        shares in the open market by reason of the Treaty.
 
 The
        Convention gives protection to United States residents from Canadian tax
        on
        certain benefits derived from the alienation of property. There is no protection
        for a gain on a disposition of shares the value of which is derived principally
        from real property in Canada. The Company's operations are such that the
        Company
        does not intend to hold real property in Canada.
 
 Revenue
        Canada has indicated that it considers the protection of the Convention with
        respect to capital gains extends to a "deemed disposition" under the Tax
        Act,
        including the "deemed disposition" arising from the death of a
        taxpayer.
 
 The
        reader should be aware that the Company could be considered as passive foreign
        investment company for United States federal income tax purposes. Under section
        1296 of the Internal Revenue Code of the United States, a foreign corporation
        is
        treated as a foreign investment company (a "PFIC") if it earns 75% or more
        of
        its gross income from passive sources or if 50% or more of the value of its
        assets produce passive income.
 
 Because
        the Company may have been a PFIC for the period ended December 31, 1999 and
        for
        its year ending March 31, 1999, and may have been a PFIC for some of its
        fiscal
        years ending before that date, each U.S. shareholder of the Company should
        consult a tax advisor with respect to how the PFIC rules may affect such
        shareholder's tax situation. In particular, a U.S. shareholder should determine
        whether such shareholder should elect to have the Company be treated as a
        Qualified Electing Fund in the event the Company is a PFIC. This might avoid
        adverse U.S. federal income tax consequences that may otherwise result from
        the
        Company should it be treated as a PFIC.
  -17-
 
 **F.** DIVIDENDS AND PAYING AGENTS
 
 This
        section is not applicable to the Company as this is an Annual
        Report.
 
 **G.** STATEMENT BY EXPERTS
 
 This
        section is not applicable to the Company as this is an Annual
        Report.
 
 **H.** DOCUMENTS ON DISPLAY
 
 The
        above
        contracts respecting the Company may be inspected at the registered and records
        offices for the Company in the Province of British Columbia, located at Suite
        620 - 650 West Georgia Street, Vancouver, British Columbia, V6B 4N9 for a
        period
        of 30 days following the filing of this Annual Report.
 
 **I.** SUBSIDIARY
        INFORMATION
 
 Not
        applicable.
 
 ITEM
                  11**-**
              **QUANTITATIVE
                  AND QUALITATIVE DISCLOSURE ABOUT MARKET
                  RISK**
 
 The
        Company currently has no revenues. All of the Company's expenditures are
        in
        Canada, and accordingly the Canadian dollar is the functional currency. The
        Company's financial instruments are comprised of trade accounts receivables
        and
        payables which are subject to normal credit risks.
 
 ITEM
                12 -
              **DESCRIPTION
                  OF SECURITIES OTHER THAN EQUITY
                  SECURITIES**
 
 **A.** DEBT
        SECURITIES
 
 Not
        applicable
 
 **B.** WARRANTS
        AND RIGHTS
 
 Not
        applicable
 
 **C.** OTHER
        SECURITIES
 
 Not
        applicable
  **D.** AMERICAN
        DEPOSITARY SHARES
 
 Not
        applicable
 
 **PART
        II**
 
 ITEM
                  13 -
              **DEFAULTS,
                  DIVIDEND ARREARAGES AND
                  DELINQUENCIES**
 
 **A.** and **B.**
 
 Not
        applicable.
 
 ITEM
                14 -
              **MATERIAL
                  MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF
                  PROCEEDS**
 
 **A.** , **B.** , **C.** , **D.** and **E.**
 
 Not
        applicable.
  -18-
  ITEM
                15 -
              **CONTROLS
                  AND PROCEDURES**
 
 **A.** EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES
 
 The
        term
        "disclosure controls and procedures" (defined in Rule 13a-15(c) and 15d-15(c))
        refers to the controls and procedures of a company that are designed to ensure
        that information required to be disclosed by a company in the reports that
        it
        files under the Securities and Exchange Act of 1934 (the "Exchange Act")
        is
        recorded, processed, summarized and reported within required time periods.
        The
        Company's President, who also serves as the Chief Financial Officer, has
        evaluated the effectiveness of the Company's disclosure controls and procedures
        as of the end of the period covered by the report and they concluded that,
        as of
        such date, the Company's controls and procedures were effective.
 
 **B.** CHANGE
        IN INTERNAL CONTROLS
 
 The
        Company maintains a system of internal accounting controls that are designed
        to
        provide reasonable assurance that its books and records accurately reflect
        its
        transactions and that established policies and procedures are followed.
 
 There
        were no significant changes in internal controls or in other factors of the
        Company that could significantly affect these controls subsequent to the
        date of
        their evaluation and up to the filing date of this Annual Report on Form
        20-F.
        There were no significant deficiencies or material weaknesses, and therefore
        no
        corrective actions were taken or may occur and not be detected.
 
 ITEM
                  16 -
              **RESERVED**
 
 ITEM
                  16A  -
              **AUDIT
                  COMMITTEE FINANCIAL EXPERT**
 
 The
        Company does not yet have an audit committee financial expert. The Company
        is in
        the formative stage and has focused its requirements on business and management
        for its board of directors. The Company intends to appoint a financial expert
        once commercial operations commence.
  ITEM
                  16B  -
              **CODE
                  OF ETHICS**
 
 Currently,
        the Company has not adopted a Code of Ethics that applies to its principal
        executive officer, principal financial officer, principal accounting officer
        or
        controller, or persons performing similar functions, as the Company has been
        fairly inactive over the last fiscal year.
 
 However,
        the Company does intend to adopt a Code of Ethics that are reasonably designed
        to deter wrongdoing and to promote:
 (1)
        Honest and ethical conduct, including the ethical handling of actual or apparent
        conflicts of interest between personal and professional
        relationships;
 (2)
        Full,
        fair, accurate, timely, and understandable disclosure in reports and documents
        that a registrant files with, or submits to, the SEC and in other public
        communications made by the Company;
 (3)
        Compliance with applicable governmental laws, rules and
        regulations;
 (4)
        The
        prompt internal reporting of violations of the code to an appropriate person
        or
        persons identified in the code; and
 (5)
        Accountability for adherence to the code.
 
 ITEM
                  16C -
              **PRINCIPAL
                  ACCOUNTANT FEES AND
                  SERVICES**
 
 **A.** AUDIT
        FEES
 
 During
        the fiscal year ended March 31, 2005, the Company paid $17,582 in fees to
        its
        principal independent accountant for professional services rendered in
        connection with the audit of the Company's financial statements for the fiscal
        year ended March 31, 2004 and for the six months ended September 30,
        2004.
 
 During
        the fiscal year ended March 31, 2004, the Company paid approximately $58,000
        in
        fees to its principal independent accountant for professional services rendered
        in connection with the audit of the Company's financial statements for the
        fiscal year ended March 31, 2003.
  -19-
 
 **B.** AUDIT-RELATED
        FEES
 
 During
        the fiscal years ended March 31, 2005 and 2004 the Company did not incur
        or pay
        any fees for assurance or related services rendered by its principal independent
        accountant that are reasonably related to the performance of the audit or
        review
        of the Company's financial statements that are not reported in the section
        captioned "Audit Fees" herein above.
 
 **C.** TAX
        FEES
 
 During
        the fiscal years ended March 31, 2005 and 2004, the Company did not incur
        or pay
        any fees for professional services rendered by the principal accountant for
        tax
        compliance, tax advice, and tax planning.
 
 **D.** ALL
        OTHER
        FEES
 
 During
        the fiscal years ended March 31, 2005 and 2004, the Company did not incur
        or pay
        any other fees for products or services provided by the principal independent
        accountant, other than the services reported in the sections captioned "Audit
        Fee", "Audit-Related Fees", or "Tax Fees" hereinabove.
 
 ITEM
                  16D -
              **EXEMPTIONS
                  FROM THE LISTING STANDARDS FOR AUDIT
                  COMMITTEES**
 
 Not
        applicable
 
 ITEM
                  16E  -
              **PURCHASES
                  OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED
                  PURCHASERS**
 
 Not
        applicable
 
 **PART
        III**
 
 ITEM
                  17 -
              **FINANCIAL
                  STATEMENTS**
 
 Not
        applicable
 
 ITEM
                  18 -
              **FINANCIAL
                  STATEMENTS**
 
 The
        audited financial statements for the Company have been prepared in accordance
        with accounting principles generally accepted in Canada. There are three
        differences between accounting principles generally accepted in Canada as
        opposed to those generally accepted in the United States that affect the
        Company
        and these are: stock compensation on escrow shares, weighted average outstanding
        shares for loss per share calculations, and capitalization of resource property
        costs.
 
 With
        respect to escrow shares: in Canada, when escrow shares are issued at nominal
        prices and are released from escrow no compensation expense is recorded whereas
        in the US, such release triggers a compensation which affects the compensation
        expense and the share capital.
 
 With
        respect to the weighted average outstanding shares for loss per share
        calculations: in Canada, the weighted average outstanding shares include
        escrow
        shares issued but not released, whereas in the US, the escrow shares do not
        enter into the calculation until released from escrow.
 
 With
        respect to resource property costs: in Canada all exploration costs for
        properties to which a company retains title and continues exploration work
        are
        capitalized and put on the balance sheet whereas in the US such costs are
        expensed annually unless there is an engineering report on hand which will
        determine a net realizable value to justify the capitalization.
 
 The
        audited financial statements for the Company for March 31, 2005 and 2004
        are
        attached hereto and form a material part of this Annual Report.
  -20-
  
 ITEM
                19 -
              **EXHIBITS**
 
 **A.** FINANCIAL STATEMENTS
 
 This
        Annual Report contains the following financial statements and information
        respecting the Company:
 
 Report
        of
        independent registered public accounting firm  on
        the
        Company's financial statements for the year ended March 31, 2005;
 
 Report
        of
        independent registered public accounting firm  on
        the
        Company's financial statements for the year ended March 31, 2004;
 
 Balance
        Sheet at March 31, 2005 and 2004
 
 Statements
        of Operations and Deficit for the Company for the years ended March 31, 2005
        and
        2004;
 
 Statements
        of Cash Flows for the Company for the year ended March 31, 2005 and 2004;
        and
 
 Notes
        to
        Financial Statements March 31, 2005.
 
 REPORT
        OF
        INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 To
        the
        Shareholders of
 **Global
        Immune Technologies Inc.**
 (formerly
        Secureview Systems Inc.)
 
 We
        have
        audited the balance sheet of **Global
        Immune Technologies Inc.,** as
        at
        March 31, 2005 and the statements of operations and deficit, and cash flows
        for
        the year 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 audit.
 
 We
        conducted our audit in accordance with auditing standards generally accepted
        in
        Canada and the standards of the Public Company Accounting Oversight Board
        in the
        United States. Those standards require that we plan and perform an audit
        to
        obtain reasonable assurance 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, these financial statements present fairly, in all material respects,
        the financial position of the Company as at March 31, 2005 and the results
        of
        its operations and cash flows for the year then ended in accordance with
        Canadian generally accepted accounting principles.
 
 
 "Smythe
        Ratcliffe"
 Chartered
        Accountants
 
 Vancouver,
        Canada
 October
        11, 2005
  -21-
  **Comments
        by Auditor for US Readers on Canada-US Reporting
        Difference**
 
 In
        the
        United States, reporting standards for auditors require the addition of an
        explanatory paragraph (following the opinion paragraph) when the financial
        statements are affected by conditions and events that cast substantial doubt
        on
        the Company’s ability to continue as a going concern, such as those described in
        note 2 to the financial statements.
 
 Our
        report to the shareholders dated October 11, 2005 is expressed in accordance
        with Canadian reporting standards which do not permit a reference to such
        events
        and conditions in the auditors’ report when these are adequately disclosed in
        the financial statements.
 
 "Smythe
        Ratcliffe"
 Chartered
        Accountants
 
 Vancouver,
        Canada
 October
        11, 2005
 
 
 AUDITORS'
        REPORT
 To
        the
        Shareholders of Secureview Systems Inc.
 
 We
        have
        audited the consolidated balance sheet of Secureview Systems Inc. as at March
        31, 2004 and the consolidated statements of deficit, operations and cash
        flows
        for the year then ended. These financial statements are the responsibility
        of
        the company's management. Our responsibility is to express an opinion on
        these
        consolidated financial statements based on our audit.
 
 We
        conducted our audit in accordance with Canadian generally accepted auditing
        standards. Those standards require that we plan and perform an audit to obtain
        reasonable assurance 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. In
        our
        opinion, these consolidated financial statements present fairly, in all material
        respects, the financial position of the company as at March 31, 2004 and
        the
        results of its operations and its cash flows for the year then ended in
        accordance with Canadian generally accepted accounting principles.
 
 The
        consolidated financial statements as at March 31, 2003 and for the year then
        ended were audited by other auditors who expressed an opinion without
        reservation on those statements in their report dated August 14,
        2003.
 
 "SF
        PARTNERSHIP, LLP"
 Toronto,
        Canada  CHARTERED
        ACCOUNTANTS
 December
        8, 2004
  -22-
  **GLOBAL
        IMMUNE TECHNOLOGIES INC.**
 **(formerly
        SECUREVIEW SYSTEMS INC.)**
 Balance
        Sheets
 March
        31
 (Stated
        in Canadian Dollars)
 **2005**
              
              2004**ASSETS****Current**Cash
              
              **$**
              **-**
              
              $
              2,580GST
                  receivable
              
              
              **10,155**
              
              
              5,157**10,155**
              
              
              7,737**Equipment**(note 4)
              
              
              **-**
              
              
              1,623**Receivable****from
                  related party**(note 5)
              
              
              **-**
              
              
              150,000**Goodwill**(note 6)
              
              
              **-**
              
              
              1**$**
              **10,155**
              
              $
              159,361**LIABILITIES****Current**Accounts
                  payable and accrued liabilities
              
              **$**
              **216,861**
              
              $
              298,985Loans
                  payable****(note
                  7)
              
              
              **-**
              
              
              337,745Due
                  to Director (note 8)
              
              
              **36,170**
              
              
              30,970Due
                  to Arcas Corporate Management Ltd. (note 9)
              
              
              **206,086**
              
              
              **-****459,117**
              
              
              667,700**SHAREHOLDERS'
                  DEFICIENCY****Capital
                  Stock**(note
                  10)
              
              
              **4,980,523**
              
              
              4,980,523**Deficit**
              
              
              **(5,429,485**
              **)**
              
              (5,488,862
              )**(448,962**
              **)**
              
              (508,339
              )**$**
              **10,155**
              
              $
              159,361
  On
        behalf
        of the Board:
 “Don
                  Perks”, Director
              
              “Piers
                  VanZiffle”, Director
  (See
        accompanying notes to the financial statements)
  -23-
  **GLOBAL
        IMMUNE TECHNOLOGIES INC.**
 **(formerly
        SECUREVIEW SYSTEMS INC.)**
 Statement
        of Operations and Deficit
 Years
        Ended March 31
 (Stated
        in Canadian Dollars)
 **2005**
              
              2004**Expenses**Professional
                  fees
              
              **$**
              **86,433**
              
              $
              135,478Consulting
              
              
              -
              
              
              59,664Transfer
                  agent and filing fees
              
              
              **10,344**
              
              
              35,282Travel
              
              
              **-**
              
              
              25,816General
                  and administration
              
              
              -
              
              
              14,402Trust
                  and filing fees
              
              
              **1,011**
              
              
              10,714Salaries
                  and benefits
              
              
              -
              
              
              10,500Interest
                  and bank charges
              
              
              **140**
              
              
              5,347Investor
                  relations
              
              
              **800**
              
              
              2,213Amortization
              
              
              -
              
              
              132**Loss
                  Before the Undernoted**
              
              
              **(98,728**
              **)**
              
              (299,548
              )Forgiveness
                  of debt (note 13)
              
              
              **144,728**
              
              
              -Legal
                  settlement (note 13)
              
              
              **165,000**
              
              
              -Write
                  off of loan (note 5)
              
              
              **(150,000**
              **)**
              
              -Write
                  off of equipment
              
              
              **(1,623**
              **)**
              
              -**158,105**
              
              
              -**Income
                  (Loss) from Operations**
              
              
              **59,377**
              
              
              (299,548
              )**Gain
                  from Sale of Mineral Rights**
              
              
              **-**
              
              
              149,999**Net
                  Income (Loss) for Year**
              
              
              **59,377**
              
              
              (149,549
              )**Deficit,
                  Beginning of Year**
              
              
              **(5,488,862**
              **)**
              
              (5,339,313
              )**Deficit,
                  End of Year**
              
              **$**
              **(5,429,485**
              **)**
              $
              (5,488,862
              )**Basic
                  and Fully Diluted Income (Loss) per Share**
              
              **$**
              **0.01**
              
              $
              (0.01
              )**Loss
                  per Share from Operations**
              
              **$**
              **(0.00**
              **)**
              $
              (0.02
              )**Income
                  per Share from Debt Recoveries (2004 - Sale of Mineral
                  Rights)**
              
              **$**
              **0.01**
              
              $
              0.01**Weighted
                  Average Number of Shares Outstanding - Basic and
                  Diluted**
              
              
              **16,195,642**
              
              
              14,995,642
  (See
        accompanying notes to the financial statements)
  -24-
  **GLOBAL
        IMMUNE TECHNOLOGIES INC.**
 **(formerly
        SECUREVIEW SYSTEMS INC.)**
 Statements
        of Cash Flow
 Years
        Ended March 31, 2005 and 2004
 (Stated
        in Canadian Dollars)
 **2005**
              
              2004**Cash
                  Flows from Operating Activities**Net
                  income (loss)
              
              **$**
              **59,377**
              
              $
              (149,549
              )Adjustments
                  for:Amortization
              
              
              **1,623**
              
              
              132Gain
                  on sale of mineral rights
              
              
              -
              
              
              (149,999
              )**61,000**
              
              
              (299,416
              )Changes
                  in non-cash working capitalGST
                  receivable
              
              
              **(4,998**
              **)**
              
              (3,470
              )Accounts
                  payable and accrued charges
              
              
              **(82,123**
              **)**
              
              162,632Receivable
                  from related party
              
              
              **150,000**
              
              
              -Non-cash
                  transactionsCommon
                  shares issued as repayment of accounts payable
              
              
              -
              
              
              75,000Net
                  Cash Provided by (Applied to) Operations
              
              
              **123,879**
              
              
              (65,254
              )**Cash
                  Flows From Financing Activities**Loans
                  payable
              
              
              **(337,745**
              **)**
              
              212,745Due
                  to director
              
              
              **5,200**
              
              
              30,970Due
                  to Arcas Corporate Management Ltd.
              
              
              **206,086**
              
              
              (176,193
              )Net
                  Cash (Used in) Provided by Financing Activities
              
              
              **(126,459**
              **)**
              
              67,522**Increase
                  (Decrease) in Cash**
              
              
              **(2,580**
              **)**
              
              2,268**Cash
                  - beginning of year**
              
              
              **2,580**
              
              
              312**Cash
                  - end of year**
              
              **$**
              **-**
              
              $
              2,580**Supplemental
                  Cash Flow Information**Interest
                  paid
              
              **$**
              **-**
              ****
              $
              -Income
                  taxes paid
              
              **$**
              **-**
              
              $
              -Shares
                  issued for non-cash consideration:Settlement
                  of accounts payable
              
              **$**
              **-**
              
              $
              75,000
 
 (See
        accompanying notes to the financial statements)
  -25-
  **GLOBAL
        IMMUNE TECHNOLOGIES INC.**
 **(formerly
        SECUREVIEW SYSTEMS INC.)**
 Notes
        to
        the Financial Statements
 March
        31,
        2005
  **1.**
              **Nature
                  of Operations**
  Effective
        May 2, 2005 the Company changed its name to Global Immune Technologies Inc.
  Subsequently
        to March 31, 2005, the Company has agreed to purchase WSG Systems Inc., (“WSG”)
        its' business and assets from Global Lottery Corporation for the issuance
        of
        100,000,000 shares of common stock. The assets of WSG include proprietary
        technology, software, its trade names and trademarks as those products pertain
        to the worldwide lottery industry and/or worldwide pari-mutual betting. The
        products are designed to be used by all entities in the industry for conducting
        lotteries and or pari-mutual betting, including corporations and/or governmental
        agencies representing countries, provinces, states, etc. to implement and/or
        to
        improve their lottery and/or pari-mutual betting systems. The Company has
        also
        committed to completing two financings totaling US$22million to be used to
        manufacture and install lottery and/or pari-mutual betting systems currently
        under bid by WSG and predicated upon winning the bid. The Company intends
        to
        pursue the worldwide marketing of the WSG proprietary technology.
  Previously
        announced negotiations to acquire the rights to and interest in the drug
        Trioxolane have been terminated after conducting due diligence on the proposed
        acquisition.
  The
        Company has written off its interest in a software development, training
        and
        consulting company, Lute Linux.com ("Lute"). Prior to Lute, the Company's
        business was the operation of an internet sports contest website,
        Prosportspool.com, and prior to that the Company's primary activities had
        been
        in the acquisition and exploration of resource properties. The Company is
        no
        longer active in any of these areas and in prior years sold its interest
        in all
        mineral claims.
  **2.**
              **Going
                  Concern Assumption**
  The
        Company's financial statements are presented on a going concern basis, which
        contemplates the realization of assets and satisfaction of liabilities in
        the
        normal course of business. The Company has experienced recurring operating
        losses, has an accumulated shareholders’ deficiency of $5,429,485, has negative
        cash flows from operations and has negative working capital of
        $448,962 ,
        all of
        which raises substantial doubt as to its ability to continue as a going
        concern.
  The
        Company's ability to continue as a going concern is contingent upon its ability
        to secure satisfactory financing arrangements to meet its obligations as
        they
        become due.
  Management
        is pursuing options to acquire an operating entity that will provide cash
        flows
        to finance operations of the Company. The Company has also entered into
        negotiations with its creditors to satisfy its obligations by the issuance
        of
        common shares. Although the Company plans to pursue these options, there
        can be
        no assurance that the Company will be able to complete the desired transactions
        and obtain financing when needed or obtain such on terms satisfactory to
        the
        Company, if at all.
  -26-
 
 **GLOBAL
        IMMUNE TECHNOLOGIES INC.**
 **(formerly
        SECUREVIEW SYSTEMS INC.)**
 Notes
        to
        the Financial Statements
 March
        31,
        2005
  **3.**
              **Significant
                  Accounting Policies**
  The
        accounting policies of the Company are in accordance with accounting principles
        generally accepted in Canada and their basis of application is consistent
        with
        that of the previous year. Outlined below are those policies considered
        particularly significant:
  a)
              Unit
                  of Measurement
  Canadian
        currency is the unit of measurement in these financial statements.
  b)
              Principles
                  of Consolidation
  The
        Company accounts for its significant investments, where the Company owns
        outright or controls the investment, on the consolidation basis. All significant
        inter company transactions and balances are eliminated on
        consolidation.
  c)
              Use
                  of Estimates
  Preparation
        of financial statements in accordance with accounting principles generally
        accepted in Canada requires management to make estimates and assumptions
        that
        affect the amounts reported in the financial statements and related notes
        to
        financial statements. These estimates are based on management's best knowledge
        of current events and actions the Company may undertake in the future. Actual
        results may ultimately differ from estimates, although management does not
        believe such changes will materially affect the financial statements in any
        individual year.
  d)
              Equipment
  Equipment
        is stated at cost. Amortization is based on the estimated useful lives of
        the
        assets. Additions during the year are amortized at half the normal
        rate.
  e)
              Income
                  Taxes
  The
        Company follows the asset and liability method of accounting for income taxes.
        Under this method, future tax assets and liabilities are recognized for the
        estimated tax recoverable or payable which would arise if assets and liabilities
        were recovered and settled at the financial statement carrying amounts. Future
        tax assets and liabilities are measured using enacted tax rates expected
        to
        apply to taxable income in the years in which temporary differences are expected
        to be recovered or settled. Changes to these balances are recognized in income
        in the period in which they occur. The amount of future income tax assets
        recognized is limited to the amount that is likely to be realized.
  f)
              Impairment
                  of Assets
  The
        Company monitors the recoverability of long-lived assets including equipment
        whenever events or changes in circumstances indicate that the carrying amount
        of
        an asset may not be recoverable. The Company reviews factors such as market
        value, future assets utilization and business climate and, when such indicators
        exist, compares the carrying value of the assets to the future undiscounted
        cash
        flows expected to result from the use of the related asset. If such cash
        flows
        are less than the carrying value, the impairment charge to be recognized
        equals
        the amount by which the carrying amount of the asset exceeds the fair value
        of
        the asset. Fair value is generally measured equal to the estimated future
        undiscounted net cash flows from the asset or assets.
  -27-
  **GLOBAL
        IMMUNE TECHNOLOGIES INC**
 **(formerly
        SECUREVIEW SYSTEMS INC.)**
 Notes
        to
        the Financial Statements
 March
        31,
        2005
  **3.**
              **Significant
                  Accounting Policies
                  (cont'd)**
  g)
              Financial
                  Instruments
  The
        carrying amount of accounts payable and accrued liabilities, loans payable,
        due
        to director and due to Arcas Corporate Management Ltd. approximate their
        aggregate fair value due to the relatively short term maturity of these
        instruments.
  h)
              Stock-Based
                  Compensation
  Effective
        April 1, 2002, the Company adopted Section 3870 of the Canadian Institute
        of
        Chartered Accountants Handbook, "Stock-based Compensation and Other Stock-based
        Payments". Under the standard, payments to non-employees and to employees
        that
        are direct awards of stock, that call for settlement in cash or other assets,
        or
        that are stock appreciation rights which call for settlement by the issuance
        of
        equity instruments, are accounted for using the fair value method and are
        included in operations, with an offset to contributed surplus. No compensation
        expense is recorded for all other non-cash stock-based employee compensation
        awards.
  Prior
        to
        adoption of the standard, no compensation expense was calculated, recorded
        or
        otherwise disclosed for the Company's stock-based incentive plans when options
        were granted. Any consideration paid by those exercising stock options was,
        and
        continues to be, credited to share capital upon receipt.
  The
        recommendations are applied prospectively. The adoption of this standard
        has
        resulted in no changes to amounts previously reported. As the Company has
        issued
        no stock options in the current year, there is no impact on these financial
        statements.
  i)
              Loss
                  Per Share
  The
        loss
        per share is calculated by dividing the loss applicable to the common shares
        by
        the weighted average number of shares outstanding during the year. Fully
        diluted
        loss per share is calculated using the treasury stock method and reflects
        the
        potential dilution by including stock options and contingently issuable shares,
        in the weighted average number of common shares outstanding for the year,
        if
        dilutive.
  **4.**
              **Equipment**
  **2005**
              
              
              
              2004**Cost**
              ****
              **Accumulated
                    Amortization and Write Down**
              
              Cost
              
              Accumulated
                    AmortizationComputer
                  equipment
              
              **$**
              **5,592**
              ****
              **$**
              **5,592**
              
              $
              5,592
              
              $
              3,969Net
                  carrying amount
              
              
              
              
              **$**
              **-**
              
              
              
              
              $
              1,623
  -28-
 
 **GLOBAL
        IMMUNE TECHNOLOGIES INC.**
 **(formerly
        SECUREVIEW SYSTEMS INC.)**
 Notes
        to
        the Financial Statements
 March
        31,
        2005
  **5.**
              **Receivable
                  From Related Party**
  The
        receivable was due from a former director of the Company and is unsecured,
        non-interest bearing and has no fixed terms for repayment.
  During
        the year ended March 31, 2004 a former director of the Company purchased
        the
        Company's sole mineral resource property for $150,000. The receivable was
        assigned to a company wholly-owned by the former director. Collection is
        doubtful and the balance due has been fully allowed for at March 31,
        2005.
  **6.**
              **Goodwill**
  On
        October 24, 2001, the Company issued 4,675,000 common shares for 100% of
        the
        issued and outstanding common shares of Lute. The fair value of Lute exceeded
        the net identifiable assets acquired at that time by $201,696. In 2002, due
        to
        impairment in the fair market value of the assets of Lute, the Company wrote
        down the goodwill to $1 and wrote off the $1 during the year ended March
        31,
        2005.
  **7.**
              **Loans
                  Payable**
 
 **2005**
              
              2004Torq
                  Media Corporation
              
              **$**
              -
              
              $
              125,000Gary
                  Schellenberg (former Director)
              
              
              -
              
              
              42,610519820
                  B.C. Ltd.
              
              
              -
              
              
              107,935Coast
                  Mountain Geological Ltd.
              
              
              -
              
              
              62,200**$**
              -
              
              $
              337,745
  The
        Company borrowed from Quest Ventures Ltd, $140,300 under promissory notes
        bearing interest at effective rates of 12% and 12.68% per annum, of which
        $15,300 was repaid prior to March 31, 2002 by the issuance of 400,000 common
        shares. On April 21, 2004 the debt was assigned to Torq Media Corporation
        (formerly On-Track Learning Systems Ltd.). The Torq Media Corporation loan
        was
        unsecured and due on demand. The loans payable to Gary Schellenberg, 519820
        B.C.
        Ltd, and Coast Mountain Geological Ltd. were unsecured, non-interest bearing
        and
        without fixed terms for repayment. In 2004 the loans payable to Gary
        Schellenberg, 519820 B.C. Ltd. and Coast Mountain were re-classified as Gary
        Schellenberg and his associated companies were no longer related to the Company.
        Subsequently this loan was forgiven as disclosed in note 13.
  **8.**
              **Due
                  to Director**
  The
        amount due to director is unsecured, non-interest bearing and has no fixed
        terms
        for repayment.
  **9.**
              **Due
                  to Arcas Corporate Management Ltd.
                  (“Arcas”)**
  The
        amount due to Arcas is non-interest bearing and has no fixed terms for
        repayment. The loan is not secured and is convertible to common shares of
        the
        Company at $0.10 per share.
  -29-
  **GLOBAL
        IMMUNE TECHNOLOGIES INC.**
 **(formerly
        SECUREVIEW SYSTEMS INC.)**
 Notes
        to
        the Financial Statements
 March
        31,
        2005
  **10.**
              **Capital
                  Stock**
  Authorized In
          May 2005 the Company altered its authorized capital stock from 100,000,000
          common shares to an unlimited number of common shares without par value
  **2005**
              
              2004Issued
                  common shares16,195,642
              
              **$**
              **4,980,523**
              
              $
              4,980,523
 
 Subsequently
        to March 31, 2005 the Company issued 100,000,000 common shares into escrow
        in
        connection with the proposed acquisition of the rights to and interest in
        the
        drug Trioxolane. The acquisition did not proceed and the 100million shares
        are
        held in escrow subject to the direction of the Company. The Company anticipates
        releasing the 100million shares pursuant to the acquisition of WSG. (note
        1)
  Warrants
        At March 31, 2005, the Company had outstanding warrants to purchase 2,500,000
        shares of the Company's common shares at a price of $0.03 per share. The
        warrants became exercisable in 2004 and expire at various dates through 2007.
        At
        March 31, 2005, 2,500,000 shares of common stock were reserved for that
        purpose.
  Stock
        Options Under the Company's stock option plan, the Company may grant options
        to
        employees, officers, and directors for the purchase of its common stock from
        treasury. The aggregate number of shares so reserved for issuance shall not
        exceed 10% of the issued and outstanding shares, and the aggregate number
        of
        shares so reserved for issuance to any one individual shall not exceed 5%
        of the
        issued and outstanding shares. Under the plan, options are exercisable upon
        issuance and an option's maximum term is five years.
 **2005**
              
              2004Outstanding
                  and exercisable, beginning of year
              
              
              427,729
              
              
              427,729Cancelled
                  during year
              
              
              (427,729
              )
              
              -Outstanding
                  and exercisable, end of year
              
              
              -
              
              
              427,729
  In
        January 2002, the Company granted 427,729 stock options, with an exercise
        price
        of $0.10 per share and a maturity date of January 21, 2007. To date, none
        of
        these options have been exercised, the optionees have left the Company, and
        the
        options have been cancelled.
  **11.**
              **Income
                  Taxes**
  The
        components of the future income tax asset at March 31, 2005 and 2004 were
        as
        follows:
 
 Future
                  Tax Assets
              
              
              **2005**
              
              
              2004Non-capital
                  loss carry forward
              
              **$**
              **676,400**
              
              $
              772,520Valuation
                  allowance
              
              
              **(676,400**
              **)**
              
              (772,520
              )Net
                  Future Tax Assets
              
              **$**
              **-**
              
              $
              -
  -30-
 
 **GLOBAL
        IMMUNE TECHNOLOGIES INC.**
 **(formerly
        SECUREVIEW SYSTEMS INC.)**
 Notes
        to
        the Financial Statements
 March
        31,
        2005
  **11.**
              **Income
                  Taxes (cont’d)**
  The
        Company has accumulated operating losses for income tax purposes of
        approximately $1,900,000 which may be carried forward to reduce taxable income
        of future years. The potential tax benefit of these losses has not been
        reflected in the financial statements as it is more likely than not that
        these
        losses will not be utilized. They will expire at various dates to March 31,
        2014.
  The
        Company has a statutory tax rate of approximately 35.6% to income before
        taxes.
  **12.**
              **Related
                  Party Transactions**
  During
        the current fiscal year, directors and companies with common directors received
        $nil (2004 - $30,000 and 2003 - $82,181) for consulting, administrative,
        rent,
        office, shareholder relations and management services.
  These
        transactions were in the normal course of business and recorded at an exchange
        value established and agreed upon by the above mentioned parties, which
        approximates fair market value.
  **13.**
              **Other
                  Events**
  a)
        Debt
        Forgiveness
  During
        2004 the Company was named as a defendant in a lawsuit initiated by one of
        its
        creditors for failure to honor repayment of a $125,000 loan and accrued interest
        to Torq Media Corporation (note 7) who filed a statement of claim on May
        6,
        2004. In September 2004 Torq Media Corporation signed a settlement agreement
        releasing Secureview Systems Inc. of any obligations arising from the loan.
        The
        forgiveness of debt is reported in the 2005 fiscal year. Forgiveness of debt
        of
        $144,728 includes $19,728 of accounts payable with other unrelated
        creditors.
  b)
        Settlement of Debt
  The
        Company received a settlement of certain issues for $80,000 in cash plus
        stock
        valued at $85,000.
  Loans
        owing by the Company were settled in a court case whereby $212,000 in loans
        payable and other payables were assigned to Arcas (note 9) net of the $85,000
        stock settlement.
  c)
        Other
        Settlements
  In
        a
        separate legal proceeding the Company was named as a defendant by one of
        its
        creditors for unpaid legal fees totaling $69,728. In an agreement dated November
        30, 2004 the creditor agreed to settle for a cash payment of $50,000 and
        20,000
        common shares in Secureview Systems Inc. The Company is obliged to pay down
        the
        liability through a series of scheduled repayments. The settlement is secured
        by
        400,000 common shares of the Company and is being held in trust until the
        liability is paid down in full at which time the shares will be returned
        to the
        Company.
  In
        another settlement dated October 26, 2004 (not subject to litigation) the
        Company assigned a creditor liability of $28,696 to a third party and in
        return
        the Company agreed to issue common shares. The number of common shares to
        be
        issued has not been determined as of the date of this audit
        report.
  -31-
  **14.**
              **Differences
                  Between Canadian and United States Generally Accepted Accounting
                  Principles (Canadian “GAAP” and US
                  “GAAP”)**
 
 There
        are
        no significant differences in the accounting policies followed by the Company
        under Canadian GAAP and those that would be followed under US GAAP. In all
        material respects, these financial statements conform with US GAAP.
 
 **B.** EXHIBITS
 
 Exhibit
                  12
              Section
                  302 CertificationExhibit
                  13
              Section
                  906 Certification
 
 **SIGNATURES**
 
 The
        registrant hereby certifies that it meets all of the requirements for filing
        on
        Form 20-F and that it has duly caused and authorized the undersigned to sign
        this annual report on its behalf.
 
 Global
        Immune Technologies Inc.
 
 By:
        /s/
 Name:
        Don
        Perks
 Title:
        President, CEO and director
 
 Date:
        September 30, 2005
  -32-