U.S. SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549

                              FORM 10-KSB/A

(Mark One)

[X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2003

                                    OR

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM
______________ TO ______________

                       COMMISSION FILE NUMBER: 0-22273

                         WORLD AM COMMUNICATIONS, INC.
              (Exact name of Registrant as specified in its charter)

                Nevada                                       44-5105536
  (State or jurisdiction of incorporation                 (I.R.S. Employer
             or organization)                            Identification No.)

 1400 West 122nd Avenue, Suite 104, Westminster, Colorado        80234
         (Address of principal executive offices)              (Zip Code)

                Registrant's telephone number:  (303) 452-0022

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

     Securities registered pursuant to Section 12(g) of the Act: Common
                      Stock, $0.0001 Par Value

     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) been subject to such filing requirements for the past 90 days.
Yes     X        No           .

     Indicate by check mark if disclosure of delinquent filers
pursuant to Item 405 of Regulation S-K is not contained herein, and
will not be contained, to the best of Registrant's knowledge, in
definitive proxy or information statements incorporated by reference
in Part III of this Form 10-KSB or any amendment to this Form 10-KSB [   ].

     The Registrant had revenues of $654,726 for the fiscal year ended
on December 31, 2003.  The aggregate market value of the voting stock
held by non-affiliates of the Registrant as of March 31, 2004:
$4,008,823.  As of March 31, 2004, the Registrant had 533,033,232
shares of common stock issued and outstanding.

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

     The Registrant, by this Form 10-KSB/A, amends the following: (a)
the number of shares of issued and outstanding common stock on the
cover page so as to be correctly reflected as of March 31, 2004; (b)
the aggregate market value of the voting stock held by non-affiliates
of the Registrant on the cover page so as to be correctly reflected as
of March 31, 2004; (c) the lease commencement date and monthly rent
for the Registrant's manufacturing facility, as discussed in Item 2;
and (d) the name of the Registrant's accountant so that it is
correctly reflected in all sections of Item 14.  Besides these
changes, no other changes have been made to the Form 10-KSB for the
fiscal year ended December 31, 2003.

ITEM 2.  DESCRIPTION OF PROPERTY.

     At its offices in Westminster, Colorado, which the Registrant
leases, it owns approximately $10,000 of miscellaneous office
furniture and equipment, including computers. These offices consist of
(a) an executive office of 1,976 square feet with a rental rate of
$2,900.50 per month; and (b) a manufacturing facility of 4,500 square
feet with a rental rate of $3,568.00 per month.  The office premises
are leased for a term of three years, which commenced in March 2003;
the manufacturing facility is subject to a three-year lease, which
commenced in July 2003.

ITEM 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES.

     The Registrant has recently become aware that on March 31, 2004
the SEC filed an injunctive action Michael B. Johnson, his Colorado-
based accounting firm, Michael Johnson & Co., LLC ("Johnson & Co.")
(the independent certified public accountant for the company), and
others in the U.S. District Court in Denver, Colorado.  In its
complaint, the SEC alleges that between December 1999 and December
2000, certain individuals engaged in a scheme to defraud investors by
filing reports and a registration statement with the SEC containing
false financial statements that fraudulently overstated revenues,
income, assets and cash inflows and understated expenses.  The
complaint also alleges that Mr. Johnson and Johnson & Co. assisted in
the scheme by performing a range of accounting functions, including
purporting to audit financial statements they had previously prepared.
The complaint seeks, among other things, injunctions, third-tier civil
penalties, disgorgement and prejudgment interest from Mr. Johnson and
Johnson & Co.

     The Registrant's audit committee is investigating this matter,
and what impact, if any, this will have on the company.  The audit
committee will then recommend a course of action to the board of
directors.  The board of directors will them make a determination as
to what actions will be taken, which may include, but not necessarily
be limited to, securing a new independent accountant for the
Registrant and the re-audit of prior years' financial statements.

Audit Fees.

     The aggregate fees billed for each of the last two fiscal years
for professional services rendered by Johnson & Co. for the audit of
the Registrant's annual financial statements, and review of financial
statements included in the company's Form 10-QSB's: 2003: $10,000; and
2002: $9,500.

Audit-Related Fees.

     The aggregate fees billed in each of the last two fiscal years
for assurance and related services by Johnson & Co. that are
reasonably related to the performance of the audit or review of the
Registrant's financial statements and are not reported under Audit
Fees above: $0.

Tax Fees.

     The aggregate fees billed in each of the last two fiscal years
for professional services rendered by Johnson & Co. for tax
compliance, tax advice, and tax planning: $0.

All Other Fees.

     The aggregate fees billed in each of the last two fiscal years
for products and services provided by Johnson & Co., other than the
services reported above: $0.

Audit Committee.

     The Registrant's audit committee consists of Messrs. Kollars and
Ferneau.  The audit committee has not adopted a written charter.  The
Registrant's board of directors has determined that the company does
not have an audit committee financial expert serving on its audit
committee; the company has been unable to secure the services of such
a person but is actively seeking one.

     The Registrant's does not have any pre-approval policies and
procedures.  The audit committee makes recommendations concerning the
engagement of independent public accountants, reviews with the
independent public accountants the scope and results of the audit
engagement, approves all professional services provided by the
independent accountants, reviews the independence of the independent
public accountants, considers the range of audit and non-audit fees,
and reviews the adequacy of the Registrant's internal accounting controls.

                                     SIGNATURES

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

                                       World Am Communications, Inc.



Dated: April 22, 2004                  By: /s/  James H. Alexander
                                       James Alexander, President/Chief
                                       Executive Officer

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

         Signature                    Title                     Date

/s/ James H. Alexander        President/Chief Executive        April 22, 2004
James H. Alexander            Officer/Director

/s/ Willis J. Kollars         Secretary/Director               April 22, 2004
Willis J. Kollars

/s/ Thomas E. Ferneau         Chief Financial Officer          April 22, 2004
Thomas E. Ferneau             (principal financial and
                              accounting officer)/Director

/s/  Al Youngs                Director                         April 22, 2004
Al Youngs