UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-KSB
(Mark One)

[X]     ANNUAL REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT
OF 1934

               For the Fiscal Year Ended December 31, 2003

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

     For the transition period from           to
                                   -----------  -------------

                        Commission File Number 000-32747

                         OTISH MOUNTAIN DIAMOND COMPANY
        ----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

     Nevada                                       98-0218688
-------------------------------               ------------------
(State or other jurisdiction of                 (I.R.S. Employer
incorporation or organization)                 Identification No.)

   One Penn Plaza, Suite 3600, 250 West 34th Street, New York, New York 10119
   ---------------------------------------------------------------------------
                    (Address of principal executive offices)

                                 (212) 849-6849
                         -------------------------------
                         (Registrant's telephone number)

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

               NONE

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

               COMMON STOCK, $.001 PAR VALUE PER SHARE

Check whether the registrant (1) has filed all reports  required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing  requirements  for the past 90 days. Yes [X] No
[ ]

Check if there is no disclosure of delinquent filers in response to Item 405 of
Regulation S-B not contained in this form, and no disclosure  will be contained,
to the best of the registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB. [ ]

     The issuer's revenues for the most recent fiscal year ended December 31,
2003 were nil.

     The aggregate market value of the issuer's voting and non-voting common
equity held by non-affiliates computed by reference to the average bid and ask
price of such common equity as of April 8, 2004, was approximately $26,891,600.

     As of April 7, 2004 the issuer had 35,407,811 shares of common stock, $.001
par value per share outstanding.

Documents Incorporated by Reference: NONE

Transitional Small Business Disclosure Format: Yes [ ] No [X]

<PAGE>

                         OTISH MOUNTAIN DIAMOND COMPANY
                                   FORM 10-KSB
                          YEAR ENDED December 31, 2003
                                      INDEX

                                     Part I

    Item 1.          Description of Business                        3

    Item 2.          Description of Property                        6

    Item 3.          Legal Proceedings                              7

    Item 4.          Submission of Matters to a Vote of
                     Security Holders                               7


                                     Part II

    Item 5.          Market for Common Equity and Related
                     Stockholder Matters                            7

    Item 6.          Management's Discussion and Analysis or
                     Plan of Operation                              9

    Item 7.          Financial Statements                         F-1

    Item 8.          Changes in and Disagreements with
                     Accountants on Accounting and Financial
                     Disclosure                                    14

    Item 8A.         Controls and Procedures                       15


                                    Part III

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

    Item 10.         Executive Compensation                        18

    Item 11.         Security Ownership of Certain Beneficial
                     Owners and Management and Related Stockholder
                     Matters                                       19

    Item 12.         Certain Relationships and Related
                     Transactions                                  19

    Item 13.         Exhibits and Reports on Form 8-K
               (a)   Exhibits                                      20

               (b)   Reports on Form 8-K                           22

    Item 14.     Principal Accountant Fees and Services            22

    Signatures                                                     23

<PAGE>

                                     PART I

ITEM 1.  DESCRIPTION OF BUSINESS

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

     Certain  statements  in  this  Annual  Report  on  Form  10-KSB (this "Form
10-KSB"),  including  statements  under  "Item  1. Description of Business," and
"Item  6.  Management's  Discussion  and  Analysis", constitute "forward looking
statements"  within the meaning of Section 27A of the Securities Act of 1934, as
amended, and the Private Securities Litigation Reform Act of 1995 (collectively,
the  "Reform  Act").  Certain,  but not necessarily all, of such forward-looking
statements  can  be identified by the use of forward-looking terminology such as
"believes",  "expects",  "may",  "will",  "should",  or  "anticipates",  or  the
negative  thereof  or  other variations thereon or comparable terminology, or by
discussions  of  strategy  that  involve  risks  and  uncertainties.  Such
forward-looking  statements  involve  known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
Otish  Mountain  Diamond  Company  ("the  Company",  "we",  "us" or "our") to be
materially  different  from  any  future  results,  performance  or achievements
expressed or implied by such forward-looking statements. References in this form
10-KSB,  unless  another  date  is  stated,  are  to  December  31,  2003.

BUSINESS DEVELOPMENT

     Otish  Mountain Diamond Company was originally incorporated in Nevada under
the  name  First  Cypress  Technologies, Inc. ("First Cypress") on September 14,
1999. The Company was in the process of developing an internet computer software
program known as EngineMax, which was suspended in November 2002. The Company is
currently  engaged  in diamond exploration activities in the Otish Mountain area
of  Northern  Quebec,  Canada.  The Company is in its exploration state as it is
engaged  in  the  search  for  mineral  deposits.

     Prior  to  the  Acquisition,  discussed  below, the Company had been in the
process  of  developing an internet computer software program that was suspended
in  November  2002.  In  October  2002,  the  Company  acquired  certain  items
constituting  the "Money Club Financial" business concept and business plan (the
"Money  Club"), but subsequently discontinued its involvement. The Company owned
an  option to purchase a 100% undivided interest in the Cahill Mineral Claims in
the Osoyoos Mining Division in British Columbia, Canada, which the Company chose
to  let  expire.  The  Company  also owned an option to purchase a 70% undivided
interest  in  the  Eddy  Mineral  Claims  in  the Fort Steele Mining District of
British Columbia, Canada. Note 2, Notes to Financial Statements provides further
detail  regarding  the  Company's obligations with respect to the Cahill Mineral
Claims,  the  Eddy  Mineral  Claims.  The Company acquired a 50% interest in the
Temagami  Claim  in the Sudbury Mining Division in Ontario, Canada, which it has
abandoned.  The  Company  intends  to  also allow its option on the Eddy Mineral
Claims  to  expire  when  the  exploration  expenditures on the claim become due
during  2004.

                                      -3-
<PAGE>

     In  July  2003,  the  Company  changed  its name to First Cypress, Inc. The
Company  subsequently  changed  its  name  to  Otish Mountain Diamond Company in
October  2003,  in  anticipation  of  the  acquisition of Otish Mountain Diamond
Corp.,  a  Nevada  corporation  (hereinafter  "Otish  Corp."),  discussed below.

     In  October 2003, the Company issued 1,000,000 shares of Series A Preferred
Stock,  that  are  entitled to fifteen (15) votes per shares (or an aggregate of
15,000,000  votes)  to  Philipp Buschmann. Control of the Company shifted to Mr.
Buschmann  at  that  time.  In November 2003, First Cypress, Otish Corp. and the
former  Otish  Corp.  shareholders  entered  into  an  Exchange  Agreement  (the
"Exchange" or "Acquisition") whereby the Company acquired 100% of the issued and
outstanding  shares  of  Otish  Corp.  in  exchange for 15,000,000 shares of the
Company's  common  stock.

     Otish Mountain Diamond Company, a Nevada corporation, herein being referred
to  as  the  "Company" owns one hundred percent (100%) of Otish Mountain Diamond
Corp.,  a Nevada corporation herein being referred to as Otish Corp. A reference
herein  to the Company includes a reference to Otish Corp. and vice-versa unless
otherwise  provided.

     In  October  2002,  the  Company completed a 5:1 forward stock split of its
issued  and  outstanding common stock. In October, 2003, the Company completed a
1:200  reverse  stock  split  of  its  issued  and outstanding common stock. The
effects of both stock splits have been retroactively reflected in this report on
Form  10-KSB  unless  otherwise  stated.

     The  Company  uses  the  Canadian  Dollar  as  its  function  currency. For
financial  statement  presentation  purposes the statements have been translated
into  U.S.  Dollars.  All  of  the  monetary values reflected herein are in U.S.
Dollars unless otherwise stated.

PRINCIPAL PRODUCTS AND SERVICES

     The  Company  is  engaged  in  diamond  exploration activities in the Otish
Mountain  area of Northern Quebec, Canada. The Company has mineral rights in the
Otish  Mountain  and Superior Craton regions of Canada, discussed in more detail
in  "Item  2.  Description  of Property." The current business plan includes the
expansion  of  its  mineral  rights  and  the  mining  of  diamonds. The current
exploration  program  consists  of  aerial  aeromagnetic  surveys  of the Staked
Property  (discussed  in more detail below in "Description of Property"), ground
sampling  and laboratory testing of the gathered samples. The Staked Property is
located  in  an  under-explored  area that is in close proximity to such diamond
discovery  properties  as  Ashton  Mining  and  Majescor. The Staked Property is
within  such a distance to these diamond discovery properties that geologist Jim
Chapman,  a  Director  of the Company, believes that there is good potential for
the  discovery  of  diamond  bearing  kimberlites  on  the  Staked  Property.
                                      -4-
<PAGE>

     The  Company  believes  that it currently has adequate resources to explore
the  Staked  Property  in search of an economic deposit of rough diamonds and to
complete  its  exploration  program. If, as a result of its exploration program,
the  Company  discovers  an  economic  deposit  of  rough diamonds on the Staked
Property,  the  Company will execute a feasibility plan for the development of a
mining  operation,  at  which  time  the Company will need additional funding to
execute  the plan and develop the mining operation, as discussed below in "Item.
6. Management's Discussion and Analysis". In the event that, after completion of
the  exploration  program, the Company has not discovered an economic deposit of
rough  diamonds  on  the  Staked  Property, the Company will consider other high
potential  exploration  projects,  as  is  also  discussed  below  in  "Item. 6.
Management's  Discussion  and  Analysis".

     The Company currently does not offer any products or services. In the event
that  the Company, as a result of the exploration program, discovers an economic
deposit  of  rough diamonds on the Staked Property, executes a feasibility plan,
and  develops  a  mining operation on the property, the Company intends to offer
gem-quality,  commercial  diamonds.

INDUSTRY, MARKET OVERVIEW AND COMPETITIVE BUSINESS CONDITIONS

     The  diamond  exploration  industry  is  very  competitive. Several diamond
exploration  firms  have  operations  in  the Otish Mountains and in other areas
throughout  Canada.

DEPENDENCE ON ONE OR A FEW CUSTOMERS

     Currently, a significant majority of the Company's resources are being used
for  exploration.  The  Company  does  not  have  any  existing  customers.

NEED FOR GOVERNMENT APPROVAL

     The  Company  acquired  all  necessary licenses and permits required by the
government  of  the  Province  of  Quebec, Canada for mineral exploration on the
Staked  Property.  No  further  government  approval  is necessary at this time.

RESEARCH & DEVELOPMENT OVER PAST TWO YEARS

     The  Company  is conducting a two-year exploration program on approximately
65,000 acres of Staked Property. The Company expects to complete the exploration
program  either  in  2005  or  after  it  discovers an economic deposit of rough
diamonds  on the Property, whichever occurs first. The Company has spent roughly
$130,000  to  date  and plans to spend another $350,000 for exploration purposes
assuming  it  can  successfully  raise  additional  capital.

EMPLOYEES

     The  Company  has two (2) employees and a varying number of subcontractors.
The  number of subcontractors that the Company uses varies depending on the type
and  amount  of  work  that  is  required.

     The  team responsible for developing the exploration program consists of an
experienced  geophysicist,  a  managing  director  with  extensive experience in
international business, and a governing Board of Directors. The Company selected
this team based on skill and experience that it deemed necessary to complete the
timely  and  efficient  implementation of the exploration strategy including its
proposed  objectives.

                                      -5-
<PAGE>

ITEM 2.  DESCRIPTION OF PROPERTY

     The Company acquired an undivided 100% right, title, and interest in and to
certain  mining claims covering 492 claims comprising approximately 62,000 acres
of  staked property in the Otish Mountain and Superior Craton regions of Quebec,
Canada  pursuant  to  an  Assignment  of  Interest  in  Mineral  Property Option
Agreements  (the "Assignment"). Pursuant to the Assignment, the Company received
the  following  Mineral  Property  Option  Agreements  (the  "Agreements"):

     (1)  The  "Lac  Joubert"  Mineral  Property  Option  Agreement, as amended,
          covering  34  claims  comprising  approximately  4,341  acres;

     (2)  The  "Lac  Orillat"  Mineral  Property  Option  Agreement, as amended,
          covering  39  claims  comprising  approximately  4,978  acres;

     (3)  The  "Lac  Herve"  Mineral  Property  Option  Agreement,  as  amended,
          covering  277  claims  comprising  approximately  34,382  acres;

     (4)  The  "Lac  Square Rock" Mineral Property Option Agreement, as amended,
          covering  74  claims  comprising  approximately  9,488  acres;

     (5)  The  "Lac  Taffanel"  Mineral  Property  Option Agreement, as amended,
          covering  60  claims  comprising  approximately  7,615  acres;

     (6)  The  "Lac  Leran  #  2" Mineral Property Option Agreement, as amended,
          covering  one  claim  comprising  approximately  129  acres;  and

     (7)  The  "River  Ruisseau"  Mineral Property Option Agreement, as amended,
          covering  6  claims  comprising  approximately  750  acres.

The  Company  exercised  its  option  with  respect  to all of the Agreements to
acquire  all  of  the  claims.

     In  addition, the Company has signed a Joint Venture agreement with Miranda
Gold  Corp  whereby  the  Company invested $55,000 for a 45% interest in the Lac
Leran  exploration  project  which  comprises 119 claims of approximately 15,000
acres.  Hereinafter the claims acquired pursuant to the Agreements and the Joint
venture  in  Lac  Leran  are  collectively  referred  to  as the "Otish Mountain
Claims."  The  Otish  Mountain  Claims  are  accessible  by plane or helicopter.

     Leases  will expire in the first quarter of 2005 and a minimum of CND $ 135
per  claim  must  be spent on exploration activities during the 24 month life of
the  leases.  The  total number of claims is 492. Joint Venture claims amount to
119.  This  is  the  first  diamond  exploration  program to take place on these
properties.

     The Otish Mountains region was several times targeted for base and precious
metal  exploration. The most intensive phase was from 1974 to 1984 when numerous
companies such as Phelps-Dodge, Dome, Rio Tinto, Shell, Esso, Eldorado, Inco and
Uranerz  explored extensively for uranium. None of the numerous uranium showings
and  base  metal  occurrences  that  were  discovered  proved  to  host economic
deposits.  One  exception was a gold discovery by Placer-Dome in the Carmen Lake
area. Ashton Mining Canada and their partner Soquem have been active in the area
since  1996  and  have  acquired  the  largest land holdings in the region. They
carried  out  a  regional  scale heavy mineral sampling program followed up with
airborne geophysical surveys to identify potential kimberlite targets. This work
culminated  in  late  2001 with the discovery of the Renard 1 and 2 kimberlites.
These  kimberlites  proved to be diamondiferous, containing both micro and macro
diamonds,  and  fuelled  extensive  additional  exploration  in  the  area.  Six
additional  kimberlites have since been discovered in the Renard cluster, all of
which  are  diamondiferous.

     The  Company  is  in  its exploration stage. Airborne magnetic surveys have
been  conducted over 75,000 acres of Otish Mountain Claims. About 30 geophysical
anomalies  have  been identified. Ground samples will be taken during the summer
of  2004.  The  samples will be tested for microdiamond content in a laboratory.
The  program  is  exploratory  in  nature  and  the properties are without known
reserves.  The Company's program is dependent on adequate financing as discussed
below  in  "Item  6.  Management's Discussion and Analysis or Plan of Operation"
under  the  headings  "Liquidity  and  Capital  Resources"  and  "Risk Factors."

     The  Company  currently  has  a  1-year lease for 300 square feet of office
space located at One Penn Plaza, Suite 3600, 250 West 34th Street, New York, NY,
10119.  The current lease commitment is US$500 per month. The Company also has a
1-year  lease  for  300  square  feet  of  office  space  located  at 1000 de la
Gauchetiere  West,  Suite  2400,  Montreal,  H3B  4W5  Canada. The current lease
commitment,  which varies depending on use of the office space, is an average of
CDN$400  per  month.

                                      -6-
<PAGE>

ITEM 3.  LEGAL PROCEEDINGS

     None.

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

     On  June  26,  2003,  our  shareholders,  at  a  special  meeting  of  our
shareholders  voting  by  proxy,  approved  the  following  proposals:

     (1)  an  amendment  of  our  Articles  of  Incorporation  to  increase  the
          authorized number of our shares of common stock from 25,000,000 shares
          to  150,000,000  shares;

     (2)  an amendment of our Articles of Incorporation to authorize us to issue
          100,000,000  shares of undesignated preferred stock, par value $. 001;

     (3)  an  amendment of our Articles of Incorporation to change our name from
          First  Cypress  Technologies,  Inc.  to  First  Cypress  Inc.;

     (4)  an amendment and restatement of our Bylaws to allow action to be taken
          by  written  consent  of  stockholders  without  a  meeting  of  the
          stockholders;  and

     (5)  an  amendment  and  restatement  of  our  Bylaws to allow our Board of
          Directors  to  amend  our  Bylaws  by  a majority vote of our Board of
          Directors.

     Our  Board  of Directors unanimously approved each of the five proposals to
be  placed  before  our  stockholders  at  the  Special  Meeting and unanimously
recommended  that  our stockholders vote in favor of each of those proposals. We
received  seven  completed  proxies  from  our  shareholders,  with  a  total of
13,130,500  shares representing 61.58% of our shares outstanding voting in favor
of  the  proposals  outlined  above  in  (1)-(5). Of these shares, we received 2
completed  proxies  from  2  brokers  on behalf of 2 of our stockholders, with a
total  of  951,500  shares voted in favor or all the proposals outlined above in
(1)-(5).  There were no abstentions and no broker non-votes of the proxies which
were  returned,  as  described  immediately  above.

     On  October,  2003,  a  majority of shareholders of the Company, via signed
written consent to action without a meeting of the shareholders, approved a name
change  to  Otish  Mountain  Diamond  Company,  a  200:1 reverse stock split, an
increase  in  the  authorized  shares  to 600,000,000, consisting of 500,000,000
shares of common stock, reauthorizing $.001 par value per share, and 100,000,000
shares  of  preferred  stock  with a par value of $.001 per share. The number of
pre-split  shares  consenting  to  the  action  was 22,500,000 out of 36,550,000
pre-split  shares  that  were  eligible to vote. The 36,550,000 pre-split shares
eligible  to  vote  included  1,000,000 shares of Series A Preferred Stock which
vote  15,000,000  pre/post-shares.


                                     PART II

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

     "Bid"  and  "asked"  offers  for  the common stock are listed on the NASDAQ
OTC-Bulletin  Board published by the National Quotation Bureau, Inc. The trading
symbol  for  the common stock was "FCYP" and was changed to "OMDC" in connection
with  the Company's name change in October 2003. Prior to August 2001, there was
no  trading  market  for  the  Company's  common  stock.

                                      -7-
<PAGE>

     The  following  table  sets  forth  the  high  and  low  bid prices for the
Company's  common  stock  for  the  periods  indicated as reported by the NASDAQ
OTC-Bulletin  Board.  The quotations reflect inter-dealer prices, without retail
mark-up,  mark-down  or  commission  and  may not represent actual transactions.

<TABLE>
<CAPTION>


                                      Bid Prices
Quarter Ended                      High      Low
------------------                 -----    -----
<S>                         <C>       <C>
December 31, 2003                  $0.80  $0.74
September 30, 2003                  0.02   0.02
June 30, 2003                       0.04   0.03
March 31, 2003                      0.13   0.12
December 31, 2002                   0.10   0.05
September 30, 2002                  0.55   0.55
June 30, 2002                       0.70   0.69
March 31, 2002                      0.12   0.11
December 31, 2001                   0.10   0.10
</TABLE>



     There  were  34  holders of record of the common stock as of April 7, 2004.
The  Company  has  never  paid  a cash dividend on its common stock and does not
anticipate the payment of a cash dividend in the foreseeable future. The Company
intends  to  reinvest in its business operations any funds that could be used to
pay a cash dividend. The Company's common stock is considered a "penny stock" as
defined  in  certain  rules  (the  "Rules") under the Securities Exchange Act of
1934. In general, a security which is not quoted on NASDAQ or has a market price
of less than $5 per share where the issuer does not have in excess of $2,000,000
in  net  tangible  assets  (none  of  which  conditions  the  Company  meets) is
considered  a  penny  stock.  The  SEC's  rules  regarding  penny  stocks impose
additional  sales  practice  requirements  on  broker-dealers  who  sell  such
securities  to persons other than established customers and accredited investors
(generally  persons  with  net worth in excess of $1,000,000 or an annual income
exceeding  $200,000  or  $300,000  jointly  with their spouse). For transactions
covered  by  the  rules,  the  broker-dealer  must  make  a  special suitability
determination for the purchaser and receive the purchaser's written agreement to
the  transaction  prior  to  the  sale.  Thus  the  Rules  affect the ability of
broker-dealers to sell the Company's shares should they wish to do so because of
the  adverse  effect  that the Rules have upon liquidity of penny stocks. Unless
the  transaction  is  exempt  under  the Rules, under the Securities Enforcement
Remedies  and  Penny Stock Reform Act of 1990, broker-dealers effecting customer
transactions  in penny stocks are required to provide their customers with (i) a
risk  disclosure  document; (ii) disclosure of current bid and ask quotations if
any;  (iii)  disclosure  of  the compensation of the broker-dealer and its sales
personnel  in  the  transaction; and (iv) monthly account statements showing the
market  value of each penny stock held in the customer's account. As a result of
the  penny  stock rules the market liquidity for the Company's securities may be
severely  adversely  affected  by limiting the ability of broker-dealers to sell
the  Company's  securities  and  the  ability of purchasers of the securities to
resell  them.

                                      -8-
<PAGE>

RECENT SALES OF UNREGISTERED SECURITIES

     In  October  2002, the Company issued 375 shares of its common stock, $.001
par  value  per  share which were not registered under the Act to Elaine Lugo to
acquire  the  "Money  Club Financial" business concept, web site, technology and
business  plan.  The  Company  claims an exemption from registration pursuant to
Section  4(2)  of  the  Act.

     In  March of 2003 and in February 2004, the Company issued 50 shares and 50
shares,  respectively, of its common stock, $.001 par value per share which were
not  registered  under  the  Act  to  Locke  B.  Goldsmith pursuant to an Option
Agreement  that  the  Company  entered into with Mr. Goldsmith to acquire a 100%
interest  in  the  Cahill  Mineral  Claims. The Company claims an exemption from
registration  pursuant  to  Section  4(2)  of  the  Act.

     In  December,  2003,  the  Company  issued  15,000,000 shares of its common
stock,  $.001 par value per share which were not registered under the Act to the
former  Otish Corp. shareholders pursuant to an Exchange Agreement whereby Otish
Corp.  became  a  wholly-owned subsidiary of the Company. The Company claims the
exemption  from registration afforded by Rule 506 of Regulation D under the Act.

     In  December,  2003, the Company issued an aggregate of 3,000,000 shares of
its  common stock, $.001 par value per share which were not registered under the
Act  to three entities and one individual in consideration for $300,000 pursuant
to  Subscription  Agreements. The Company claims the exemption from registration
afforded  by  Rule  506  of  Regulation  D  under  the  Act.

     In  December,  2003, the Company issued an aggregate of 3,000,000 shares of
its  common stock, $.001 par value per share which were not registered under the
Act  to  two  entities  for  their  services provided in connection with certain
acquisitions.  The  Company  claims  an  exemption from registration pursuant to
Section  4(2)  of  the  Act.

     In October, 2003, the Company issued 1,000,000 shares of Series A Preferred
Stock,  that  are  entitled to fifteen (15) votes per shares (or an aggregate of
15,000,000 votes), which were not registered under the Act, to Philipp Buschmann
in  consideration  for  services  rendered  to  the  Company as its then current
President  and  as a then current Director. The Company claims an exemption from
registration  pursuant  to  Section  4(2)  of  the  Act.

     The Company is obligated to issue 232,120 shares of its common stock, $.001
par  value per share which will not be registered under the Act to Robert Rosner
in  consideration  and  full  satisfaction  of $232,120 of indebtedness that the
Company  owed  to  Mr. Rosner. The Company claims an exemption from registration
pursuant  to  Section  4(2)  of  the  Act.

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

     This  report  contains  forward  looking  statements  within the meaning of
Section  27a  of  the  Securities  Act of 1933 and Section 21e of the Securities
Exchange  Act  of 1934.  These forward looking statements are subject to certain
risks  and  uncertainties  that  could cause actual results to differ materially
from  historical results or anticipated results, including those set forth under
"Risk  Factors"  in  this  Management's  Discussion  and  Analysis  of Financial
Condition  and  Results  of  Operations"  and  elsewhere  in  this  report.  The
following  discussion  and analysis should be read in conjunction with "Selected
Financial  Data"  and  the  Company's  financial  statements  and  notes thereto
included  elsewhere  in  this  report.

                                      -9-
<PAGE>

PLAN OF OPERATION

     Otish Mountain Diamond Company is engaged in diamond exploration activities
in the Otish Mountain area of Northern Quebec, Canada. The Company was organized
on  September 14, 1999. The Company is in its exploration state as it is engaged
in  the  search  for  mineral deposits. From inception to December 31, 2003, the
Company  has  not  generated  any  revenues.

     The  Company  believes  that  it  can  satisfy  its cash requirements until
September  30,  2004. It is imperative that the Company raise additional capital
for  the ongoing exploration work on the Otish Mountain Claims. The Company will
require  approximately  $350,000  of additional financing within the next twelve
months  to  continue  it  exploration program. At this time, no other additional
financing  has  been  secured  or  identified.  The  Company  does  not have any
commitments for additional financing. The Company cannot make any assurance that
financing  will  be  available on terms favorable to the Company, or at all. The
Company  has  no  commitments  from officers, directors or affiliates to provide
funding. There can be no assurance that any new capital will be available to the
Company  or  that  adequate  funds  will  be  sufficient for Company operations,
whether  from  the Company's financial markets or private sources, or that other
arrangements  will  be  available  when  needed  or on terms satisfactory to the
Company. If adequate funds are not available to the Company on acceptable terms,
the  Company  will  have  to  delay,  curtail  or  scale back some or all of its
operations.

     During  the  next twelve months there are no expected purchases or sales of
plant  and  significant  equipment.  The Company does not expect any significant
changes  in  the  number  of  employees  during  the  next  twelve  months.

     Prior to the Acquisition, the Company had been in the process of developing
an  internet  computer  software program that was suspended in November 2002. In
October  2002,  the  Company acquired certain items constituting the "Money Club
Financial"  business  concept  and  business  plan  (the  "Money  Club"),  but
subsequently  discontinued  its  involvement.  The  Company  owned  an option to
purchase  a  100% undivided interest in the Cahill Mineral Claims in the Osoyoos
Mining  Division  in  British  Columbia,  Canada, which the Company chose to let
expire. The Company also owned an option to purchase a 70% undivided interest in
the  Eddy Mineral Claims in the Fort Steele Mining District of British Columbia,
Canada.  Note 2, Notes to Financial Statements provides further detail regarding
the  Company's  obligations  with respect to the Cahill Mineral Claims, the Eddy
Mineral Claims. The Company acquired a 50% interest in the Temagami Claim in the
Sudbury  Mining Division in Ontario, Canada, which it has abandoned. The Company
intends  to  also allow its option on the Eddy Mineral Claims to expire when the
exploration  expenditures  on  the  claim  become  due  during  2004.

     In November 2003, the Company successfully acquired 100% of Otish Corp. The
business  activities  of  Otish  Corp.  became  the  business  activities of the
Company.  Through  Otish  Corp.,  the  Company  is conducting a two-year diamond
exploration  program  in the Otish Mountain area of Northern Quebec with respect
to  the  Otish  Mountain  Claims. Note 2, Notes to Financial Statements provides
further  detail  regarding  the  Otish  Mountain  Claims.

                                      -10-
<PAGE>

     The exploration program is past the first stage. After conducting extensive
aerial  surveys  on 75,000 acres of mining claims, several geophysical anomalies
have been identified. Ground samples will be collected during the months of June
and July, when snow melts in the Northern part of the Province of Quebec. In the
meantime, there has been a renewed interest for diamond exploration in the area.
Ashton Mining of Canada and SOQUEM Inc. are investing in a feasibility study for
a  potential  diamond  mine  on their Foxtrot property which is located 25 miles
west  of  our  Lac  Leran  JV  project.

OPERATING RESULTS

FISCAL YEAR ENDED DECEMBER 31, 2003

     The  Company was a shell at the time of the Acquisition having only $192 in
assets;  the  acquisition  was  treated as a reverse merger whereby the acquired
company is treated as the acquiring company for accounting purposes. Since Otish
Corp.,  the  acquired  company  was  incorporated in August 2003; no comparative
financial  statements  are  presented.

     The  Company  uses  the  Canadian  Dollar  as  its  function  currency. For
financial  statement  presentation  purposes the statements have been translated
into  U.S.  Dollars.  All  of  the  monetary values reflected herein are in U.S.
Dollars  unless  otherwise  stated.

     The  Company is in its exploration state as it is engaged in the search for
mineral  deposits.  The  Company has not generated any revenues since inception,
August  4,  2003. The Company incurred a net loss of $94,138 for the fiscal year
ended  December  31,  2003. The net loss was due to $14,287 of exploration costs
and  $80,291  of  administrative  expenses  which were offset by $440 of foreign
exchange  gain.  During  the  period  from  inception  to December 31, 2003, the
Company  accumulated  operating  losses  of  $95,305.

LIQUIDITY AND CAPITAL RESOURCES

     As  of  December  31, 2003, the Company had cash of $7,578. The Company had
negative  cash flows from operations of $43,645 during the period ended December
31,  2003.  This  was primarily due to a net loss of $94,138 which was offset by
positive  adjustments  of  $1,936  for depreciation and $1,446 for amortization,
$8,100 for services paid for stock, a $17,764 increase in accounts payable and a
$21,247  increase  in  accrued  expenses.

     The  Company  used $122,969 of cash for investing activities, consisting of
$77,745  to purchase mineral rights, $26,019 to develop a corporate website, and
$19,205  to  purchase  fixed  assets, during the period ended December 31, 2003.

     Cash  flows  from  financing  activities is the Company's primary source of
cash. The Company received $174,000 of cash from the sale of common stock during
the  period  ended  December  31,  2003.  In  November  2003, Robert Rosner, the
Company's  former President, entered into an agreement with the Company, whereby
Mr.  Rosner agreed to convert debt of approximately $232,120 into 236,120 shares
of Company common stock. As of December 31, 2004, the Company had not issued Mr.
Rosner  the  shares  of  common  stock.

     During  the  next  two (2) years, the Company needs to obtain approximately
$350,000  to  conduct  its  mining  exploration activities on the Otish Mountain
Claims.  If,  as  a result of the exploration, the Company discovers an economic
deposit  of  rough diamonds, the Company will execute a feasibility plan for the
development  of  a  mining  operation,  at  which  time  the  Company  will need
$5,000,000  of  additional  funding  to  execute the plan and develop the mining
operation.  In  the event that, after completion of the exploration program, the
Company  has  not  discovered an economic deposit of rough diamonds, the Company
will  consider  other  high  potential  exploration  projects. At such time, the
Company  will  need  $200,000  of  additional  financing  for  such  exploration
projects.

                                      -11-
<PAGE>

     The  Company  raised  $300,000  from  three  entities  and an individual in
October  2003  for exploration on the Otish Mountain Diamond Claims. The Company
is  in discussions with several parties to raise additional capital. The Company
does  not  have any commitments for additional financing for a feasibility study
or,  if  necessary,  for high potential exploration projects. We cannot make any
assurance  that financing will be available on terms favorable to us, or at all.
The Company has no commitments from officers, directors or affiliates to provide
funding. There can be no assurance that any new capital will be available to the
Company  or  that  adequate  funds  will  be  sufficient for Company operations,
whether  from  the  Company's  financial  markets, or other arrangements will be
available when needed or on terms satisfactory to the Company. If adequate funds
are  not  available  to  us  on  acceptable terms, we will have to implement our
feasibility  plan on a smaller scale or, in the event that we do not discover an
economic  deposit of rough diamonds on the Otish Mountain Claims, forgo engaging
in  high  potential  exploration  projects. Even if we are able to implement our
feasibility  plan,  the  failure  to  obtain  adequate financing may require the
Company  to  delay,  curtail or scale back some or all of its operations. In the
event that we do not discover an economic deposit of rough diamonds on the Otish
Mountain Claims and do not obtain adequate financing to engage in high potential
exploration  projects,  we  will  cease  operations.

     The  Company  currently  has  a  1-year lease for 300 square feet of office
space located at One Penn Plaza, Suite 3600, 250 West 34th Street, New York, NY,
10119.  The current lease commitment is US$500 per month. The Company also has a
1-year  lease  for  300  square  feet  of  office  space  located  at 1000 de la
Gauchetiere  West,  Suite  2400,  Montreal,  H3B  4W5  Canada. The current lease
commitment,  which varies depending on use of the office space, is an average of
CDN$400  per  month.

RISK FACTORS

     Inherent  Risk.  The  mineral exploration program is inherently risky.  The
Company  designed the exploration program to continue for two years in search of
an  economic  deposit  of  rough  diamonds  on the Staked Property.  The Company
expects  that  it  will  cost  approximately  $460,000  in  capital resources to
complete the program.    In October 2003, the Company raised $300,000 from three
entities  and  an  individual,  collectively, for 3,000,000 shares of its common
stock, of which approximately $130,000 has been spent.  The Company will need to
raise  approximately  $200,000  to  complete its program.  There is no assurance
that financing will be available on favorable terms, if at all, and the issuance
of  any  new  securities  is  likely  to  have  a  dilutive  effect  on  current
shareholders.  If,  at  the  completion  of the exploration program, we have not
discovered  an  economic  deposit  of  rough diamonds on the Staked Property, it
would  have  a  materially  adverse  effect  upon  our ability to conduct future
exploration  on  the  Staked  Property  or any other property and our ability to
continue  as  a  going  concern.

                                      -12-
<PAGE>

      Risk  That  We  Do  Not Meet Our Obligations Under Various Agreements.  We
have  purchased  the  mineral rights for acreage in the Otish Mountain region of
Quebec,  Canada,  which requires us to make minimum payments pursuant to various
agreements.  In  the event the Company does not satisfy its obligations pursuant
to  such  agreements,  the  sellers  are  entitled  to  reacquire  the  claims.

     Dependence  on External Financing.  In the event that the Company discovers
an  economic  deposit of rough diamonds on the Staked Property, the Company will
need approximately $2 million of additional financing, if not more, to execute a
feasibility  plan  for the development of a mining operation on the Property. If
we  are  unable to raise this capital, it would have a materially adverse effect
upon  our  ability  to  continue  as  a  going  concern.

     Reliance  on  Key  Management.  Our  success  is  highly  dependent  on the
competency  and  dedication  of  our  key  management  team that consists of the
following  three  people: 1) Massimiliano Pozzoni, President and Chief Executive
Office;  2)  Ben  Carter, member of the board; and 3) Jim Chapman, member of the
board.  Effective  September  1,  2003,  the  Company entered into an Employment
Agreement  with  Mr.  Pozzoni  for  his  services as Chief Executive Officer and
President.  If  either  Mr. Pozzoni, Mr. Carter or Mr. Chapman were to leave us,
it  could  have  a  materially  adverse effect upon our business and operations.

     Dependence  on  Favorable  Weather Conditions. The timely completion of our
exploration  program  within the estimated budget is dependent upon our forecast
of  unfavorable weather conditions in the Otish Mountain area of Quebec, Canada.
Rain  storms, snow storms, cloudy skies and adverse magnetic storms could hinder
part  of the preliminary exploration program. We forecast that the weather could
be  unfavorable  during  30%  of the calendar year. If the aggregate duration of
unfavorable  weather  conditions within the two-year period of time intended for
the  exploration  program is not within our forecast, it would have a materially
adverse  effect upon our ability to complete the exploration program on a timely
basis  within  the  estimated  budget.

     Our Auditors Have Expressed Substantial Doubt About Our Ability to Continue
As a Going Concern. Pollard-Kelley Auditing Services, Inc., in their independent
auditors'  report,  have  expressed  "substantial  doubt"  as  to our ability to
continue  as  a  going  concern based on operating losses we have incurred since
inception.  Our  financial  statements do not include any adjustments that might
result  from the outcome of that uncertainty. The going concern qualification is
also  described  in  Note  5  of  the  notes  to  our  financial  statements.

CRITICAL ACCOUNTING POLICIES

     Our  discussion  and  analysis  of  our  financial condition and results of
operations  is  based  upon  our  audited  financial statements, which have been
prepared  in  accordance  with  accounting  principals generally accepted in the
United States. The preparation of these financial statements requires us to make
estimates and judgments that affect the reported amounts of assets, liabilities,
revenues  and  expenses,  and  related  disclosure  of any contingent assets and
liabilities.  On  an  on-going basis, we evaluate our estimates, including those
related  to  uncollectible  receivable,  investment  values,  income  taxes, the
recapitalization and contingencies. We base our estimates on various assumptions
that  we  believe to be reasonable under the circumstances, the results of which
form  the  basis  for  making  judgments  about  carrying  values  of assets and
liabilities that are not readily apparent from other sources. Actual results may
differ  from  these  estimates  under  different  assumptions  or  conditions.

     We  believe  the  following  critical  accounting  policies affect our more
significant  judgments  and  estimates  used in the preparation of our financial
statements;

     Going  Concern.  The Company is in its exploration stage as it is in search
of  mineral  deposits  and  has  not  found any proven or probable reserves. The
Company has not generated significant revenues or profits to date. These factors
among  others  indicate  that  the  Company may be unable to continue as a going
concern, particularly in the event that it cannot obtain additional financing to
continue  its exploration for proven or probable reserves, as discussed in "Item
6. Management's Discussion and Analysis or Plan of Operation" under the headings
"Liquidity and Capital Resources" and "Risk Factors." The Company's continuation
as  a going concern depends upon its ability to generate sufficient cash flow to
conduct  its  operations and its ability to obtain additional sources of capital
and  financing.  The  accompanying  financial  statements  do  not  include  any
adjustments  that  might  result  from  the  outcome  of  this  uncertainty.

     Mineral  Rights. The Company uses the "full costs method" of accounting for
its  mineral  reserves.  Under this method of accounting, properties are divided
into  cost centers. The Company presently has two cost centers. All acquisition,
exploration,  and  development  costs for properties within each cost center are
capitalized  when  incurred.  The Company intends to deplete these costs equally
over  the  estimated  units to be recovered from the properties. The Company has
capitalized  $148,995  of  mineral rights. The Company has not taken a valuation
allowance  regarding  the  possibility that it may not be able to recover any of
these  costs  considering the facts that it has not found any proven or probable
reserves  and  is  in need of additional financing. If the Company does not find
such  reserves  and/or  does  not  receive additional financing, it would have a
material  adverse  effect  on  the Company's ability to recover the costs of the
mineral  rights.

     Foreign  Currency Translation. The Company's primary functional currency is
the  Canadian  Dollar.  For  financial statement presentation the statements are
translated  in  U.S.  dollars. Monetary assets and liabilities are translated at
year-end  exchange  rates  while non-monetary items are translated at historical
rates. Income and expense accounts are translated at the average rates in effect
during  the  period,  except for depreciation, which is translated at historical
rates.  Therefore,  translation  adjustments and transaction gains or losses are
recognized  in  the income in the period of occurrence. The Company recognized a
foreign exchange gain during the period ended December 31, 2003, however, due to
fluctuations  in  the  price of the Canadian Dollar relative to the U.S. Dollar,
the  Company  could  recognize  a  foreign  exchange  loss  in  the  future.

                                      -13-
<PAGE>

ITEM 7.  FINANCIAL STATEMENTS

     The  financial  statements  for the years ended December 31, 2003 and 2002,
prepared  and  audited  by  Pollard-Kelley  Auditing  Services,  an  independent
Certified  Public  Accountant,  are  included  herein.


Pollard-Kelley Auditing Services, Inc.
Auditing Services
3250 West Market St, Suite 307, Fairlawn, OH 44333 330-864-2265




Otish  Mountain  Diamond  Corp
(An  Exploration  Stage  Company)


We have audited the Balance Sheet of Otish Mountain Diamond Corp. (a exploration
stage company), as of December 31, 2003 and the related Statement of Operations,
Statement  of  Stockholders'  Equity, and Statement of Cash Flows for the period
then  ended.  These financial statements are the responsibility of the Company's
management.  My  responsibility  is  to  express  an  opinion on those financial
statements  based  on  my  audits.

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

The  Company  has  not  generated significant revenues or profits to date.  This
factor  among  others  may  indicate the Company will be unable to continue as a
going  concern.  The  Company's continuation as a going concern depends upon its
ability  to  generate  sufficient  cash  flow  to conduct its operations and its
ability to obtain additional sources of capital and financing.  The accompanying
consolidated  financial  statements  do  not  include any adjustments that might
result  from  the  outcome  of  this  uncertainty.

In  our  opinion, based on our audits, the financial statements referenced above
present  fairly,  in  all  material  respects,  the  financial position of Otish
Mountain  Diamond  Corp. (an exploration stage company) as of December 31, 2003,
and  the  results  of  their operations and their cash flows for the period then
ended,  in  conformity with generally accepted accounting principles accepted in
the  United  States  of  America.

Pollard-Kelley  Auditing  Services,  Inc.



Terance  L  Kelley
Certified  Public  Accountant
Fairlawn,  Ohio
April  9,  2004

                                      F-1
<PAGE>

<TABLE>
<CAPTION>

OTISH MOUNTAIN DIAMOND COMPANY AND SUBSIDIARY
(An Exploration Stage Company)
BALANCE SHEETS
December 31, 2003

              ASSETS
<S>                   <C>                                           <C>
Current Assets
         Cash in banks                                    $  7,578
                                                          ---------
            Total Current Assets                             7,578

Fixed Assets
            Vehicles                                        16,730
            Office equipment                                 2,475
                                                          ---------
                                                            19,205
            Less accumulated depreciation                   (1,936)
                                                          ---------
                                                            17,269
Other Assets
            Website costs less accumulated
            amortization of $1,446                          24,573
            Mineral rights                                 148,995
                                                          ---------
                                                           173,568
                                                          ---------
            Total Assets                                  $198,415
                                                          =========

               LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
            Accounts payable                              $ 18,015
            Accrued expenses                                21,247
                                                          ---------
            Total Current Liabilities                       39,262

Stockholders' Equity
         Series A Preferred stock, 1,000,000 shares
            authorized, 1,000,000 shares outstanding,
            par value $.001 per share                        1,000
         Common stock, 600,000,000 shares
            authorized, 15,107,761 shares outstanding,
            par value $.001 per share                       15,108
         Additional contributed capital                    238,350
         Deficit accumulated during exploration stage      (95,305)
                                                          ---------
                                                           159,153
                                                          ---------
            Total Liabilities and Stockholders' Equity    $198,415
                                                          =========
</TABLE>


See accompanying notes to financial statements.

                                      F-2
<PAGE>

<TABLE>
<CAPTION>

OTISH MOUNTAIN DIAMOND COMPANY AND SUBSIDIARY
(An Exploration Stage Company)
STATEMENT OF OPERATIONS
For the period beginning August 4, 2003 (Inception) through December 31, 2003

                                Current       Since
                                Period      Inception
                             ------------  -----------
<S>                         <C>                    <C>
Revenues
      Sales                  $         -   $        -

Cost of sales
       Exploration costs           14,287       12,943
                             ------------  -----------
       Gross Profit               (14,287)     (12,943)

Expenses
       Administrative              80,291       65,031
                             ------------  -----------
                                  (94,578)     (77,974)

Other income and expenses
       Foreign exchange gain          440        1,494
                             ------------  -----------

Net Loss                      $   (94,138)  $  (76,480)
                             ============  ===========

Net loss per share            $     (0.01)

Average shares outstanding      11,612,120
</TABLE>



See accompanying notes to financial statements.

                                      F-3
<PAGE>

<TABLE>
<CAPTION>

OTISH MOUNTAIN DIAMOND COMPANY AND SUBSIDIARY
(An Exploration Stage Company)
STATEMENT OF STOCKHOLDERS EQUITY
For the period beginning August 4, 2003 (Inception) through December 31, 2003

                                         Series A                            Additional
                                       Preferred Stock-     Common Stock -   Contributed  Retained
                                       Shares    Amount     Shares    Amount   Capital    Deficit     Total
                                      ---------  -------  ----------  -------  --------  ---------  ---------
<S>                                   <C>        <C>      <C>         <C>      <C>       <C>        <C>
Otish Diamond Corporation
Balance August 4, 2003                        -  $     -           -  $     -  $      -  $      -   $      -

  Shares issued for services                  -        -   8,100,000    8,100         -         -      8,100
  Shares issued for cash                      -        -   3,900,000    3,900   170,100         -    174,000
  Shares issued for mineral rights            -        -   3,000,000    3,000    68,250         -     71,250

  Merger with Otish Mountain Company  1,000,000    1,000     107,758      108         -    (1,167)       (59)

  Net loss for the period                     -        -           -        -         -   (94,138)   (94,138)
                                      ---------  -------  ----------  -------  --------  ---------  ---------

Balance December 31, 2003             1,000,000  $ 1,000  15,107,758  $15,108  $238,350  $(95,305)  $159,153
                                      =========  =======  ==========  =======  ========  =========  =========
</TABLE>



See accompanying notes to financial statements.

                                      F-4
<PAGE>

<TABLE>
<CAPTION>

OTISH MOUNTAIN DIAMOND COMPANY AND SUBSIDIARY
(An Exploration Stage Company)
STATEMENT OF CASH FLOWS
For the period beginning August 4, 2003 (Inception) through December 31, 2003

                                                     Current      Since
                                                     Period     Inception
                                                   ----------  -----------
<S>                                                <C>         <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net loss for the period                          $ (94,138)  $  (94,138)
  Adjustments to reconcile net earnings to net
    cash provided (used) by operating activities:
      Depreciation                                     1,936        1,936
      Amortization                                     1,446        1,446
      Services paid by stock                           8,100        8,100
    Changes in Current assets and liabilities:
      Increase in Accounts payable                    17,764       17,764
      Increase in Accrued expenses                    21,247       21,247
                                                   ----------  -----------

      NET CASH (USED) BY
            OPERATING ACTIVITIES                     (43,645)     (43,645)

CASH FLOWS FROM INVESTING ACTIVITIES
  Purchase of Mineral rights                         (77,745)     (77,745)
  Purchase of Website costs                          (26,019)     (26,019)
  Purchase of Fixed assets                           (19,205)     (19,205)
                                                   ----------  -----------

      NET CASH (USED) BY
            INVESTING ACTIVITIES                    (122,969)    (122,969)

CASH FLOWS FROM FINANCING ACTIVITIES
  Sale of Common stock                               174,000      174,000
                                                   ----------  -----------

      NET CASH PROVIDED BY
            FINANCING ACTIVITIES                     174,000      174,000
                                                   ----------  -----------

NET INCREASE IN CASH                                   7,386        7,386
CASH FROM OTISH DIAMOND COMPANY MERGER                   192          192
CASH AT BEGINNING OF PERIOD                                -            -
                                                   ----------  -----------
CASH AT END OF PERIOD                              $   7,578   $    7,578
                                                   ==========  ===========
See accompanying notes to financial statements.
</TABLE>

                                      F-5
<PAGE>

                 OTISH MOUNTAIN DIAMOND COMPANY AND SUBSIDIARY.
                         (An Exploration Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

                                December 31, 2003

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
---------------------------------------------------

HISTORY
-------

Otish  Mountain  Diamond  Company  (formerly  First  Cypress,  Inc.),  a  Nevada
corporation,  was  organized  on September 14, 1999. From inception to September
30,  2003,  the  Company  has  not  generated  any  revenues and is considered a
development stage enterprise, as defined in Financial Accounting Standards Board
No.  7.  The  Company  was  in  the  process  of developing an internet computer
software  program  known  as  EngineMax.  Essentially,  software development was
suspended  in  November  2002 due to cash flow constraints. In October 2002, the
Company  acquired certain items constituting the "Money Club Financial" business
concept and business plan. Due to the Company's inability to raise the necessary
equity  capital  to further the Money Club Financial business concept, no monies
were  spent  furthering  the  business  concept  from the date of acquisition to
September  30,  2003.  The  Company  discontinued  its  involvement  in  these
operations  in  the  third  quarter  of  2003.

On  November  30, 2003, the Company successfully acquired 100% of Otish Mountain
Diamond Corp. ("Otish Corp."). The business activities of Otish Corp. became the
business  activities  of  the  Company.  In  connection  with  the  merger  the
capitalization of the Company was amended to reflect a 220:1 reverse stock split
and  to  increase  the  authorized  capital to 600,000,000 shares, consisting of
500,000,000  common shares with a par value of $0.001, and 100,000,000 preferred
shares  with  a  par  value  of  $0.001.  Also,  1,000,000  shares of a Serial A
Preferred were issued for services rendered.  Finally, the then president of the
Company entered into two agreements with the Company; one, assumed all the known
liabilities  of  the  company,  and  the second, agreed to convert debt owed the
president  of  $236,000  into  236,000  shares  of  Company  common  stock.

The  Company's  income  statement  at  the  date  of  merger  was  as  follows:

     Revenues                           $     -0-

     Expenses:
     Exploration  costs                    36,293
     Administrative                       136,284

          Net  Loss                      $172,577

                                      F-6
<PAGE>

                 OTISH MOUNTAIN DIAMOND COMPANY AND SUBSIDIARY.
                         (An Exploration Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

                                December 31, 2003

NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  -  CONTINUED
------------------------------------------------------------------------

Otish  Mountain  Diamond Corp. was incorporated in the state of Nevada on August
4,  2003.  The Company is in the mining and exploration business and has mineral
rights  in  the  Otish  Mountain  and  Superior  Craton  regions of Canada.  The
Company's  business  plan  includes  the expansion of its mineral rights and the
mining  of  diamonds.

In  August  and November 2003, the Company issued 3,000,000 shares of its common
stock  and  paid  $77,745  for mineral rights in the Otish Mountain and Superior
Craton  regions  of  Quebec,  Canada.

FINANCIAL  STATEMENT  PRESENTATION
----------------------------------

The  Company  was  a  shell  at  the time of the acquisition having only $192 in
assets;  the  acquisition  was  treated as a reverse merger whereby the acquired
company  is  treated  as  the  acquiring company for accounting purposes.  Since
Otish  Corp.,  the  acquired  company  was  incorporated  in  August  2003;  no
comparative  financial  statements  are  presented.

AN EXPLORATION STAGE COMPANY
----------------------------

The  Company  is  an Exploration Stage Company since it is engaged in the search
for mineral deposits, which are not in the development or productions stage.  As
an  exploration stage company the Company will present, Since Inception, results
on  its  statements  of  operations,  stockholders'  equity  and  cash  flows.

CASH  AND  CASH  EQUIVALENTS
----------------------------

For  purposes  of  the  statement  of  cash  flows,  the  Company  considers all
short-term  debt securities purchased with a maturity of three months or less to
be  cash equivalents.  There was no cash paid during the periods for interest or
taxes.

PROPERTY AND EQUIPMENT
----------------------

Property  and  equipment are carried at cost.  Maintenance, repairs and renewals
are  expensed  as  incurred.  Depreciation of property and equipment is provided
for  over  their  estimated  useful lives, which range from three to five years,
using  the  straight-lined  method.

                                      F-7
<PAGE>

                 OTISH MOUNTAIN DIAMOND COMPANY AND SUBSIDIARY.
                         (An Exploration Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

                                December 31, 2003

NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  -  CONTINUED
------------------------------------------------------------------------

WEBSITE  DEVELOPMENT  COSTS
---------------------------

The  Company  has expended $26,019 in website development costs through December
31, 2003 for internal use software.  These cost are being amortized over a three
year  estimated  life.

MINERAL  RIGHTS
---------------

The Company uses the "full costs method" of accounting for its mineral reserves.
Under  this method of accounting, properties are divided into cost centers.  The
Company  presently  has  two  cost  centers.  All  acquisition, exploration, and
development  costs  for  properties within each cost center are capitalized when
incurred.  The Company intends to deplete these costs equally over the estimated
units  to  be  recovered  from  the  properties.

USE OF ESTIMATES
----------------

The  preparation  of  the  consolidated  financial statements in conformity with
generally  accepted  accounting principles requires management to make estimates
and  assumptions  that  affect  certain  reported  amounts  and  disclosures.
Accordingly,  actual  results  could  differ  from  those  estimates.

FOREIGN  CURRENCY  TRANSLATION
------------------------------

     The  Company's  primary  functional  currency  is  the Canadian dollar. For
financial  statement presentation the statements are translated in U.S. dollars.
Monetary  assets and liabilities are translated at year-end exchange rates while
non-monetary  items  are  translated  at  historical  rates.  Income and expense
accounts are translated at the average rates in effect during the period, except
for  depreciation,  which  is  translated  at  historical  rates.  Therefore,
translation  adjustments  and  transaction gains or losses are recognized in the
income  in  the  period  of  occurrence.

                                      F-8
<PAGE>

                 OTISH MOUNTAIN DIAMOND COMPANY AND SUBSIDIARY.
                         (An Exploration Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

                                December 31, 2003

NOTE  2  -  MINERAL  RIGHTS
---------------------------

Otish  Mountain  Diamond  Company

On  February  18, 2003, the Company entered into an option agreement, as amended
on  July  25,  2003,  whereby it acquired an exclusive option to purchase a 100%
undivided  interest  in  two mineral claims (the "Cahill Claims") in the Osoyoos
Mining  Division in British Columbia, Canada.  The issuance of common shares and
exploration  expenditures  under  this  agreement  are  as  staged  as  follows:

                                      Shares               Expenditures
On  original  agreement  (issued)     10,000                   $    -0-
     Pre  reverse  split  shares
Before  November  30,  2003
     (in  default)                    10,000                      5,000
Before  July  31,  2004               50,000                     10,000
Before  July  31,  2005               50,000                    100,000

                                     120,000                   $115,000

As  of December 31, 2003, the Company was in default with respect to an issuance
of  stock  and  a  payment  of  $5,000  to  maintain  its option. The Company is
contemplating  whether  to  renegotiate  the  option  or  let  it  expire.

April 16, 2003, the Company entered into an option agreement whereby it acquired
an  exclusive  option  to  purchase a 70% undivided interest in the Eddy mineral
claims  (the  "Eddy  Claim")  in  the  Fort  Steele  Mining  District of British
Columbia,  Canada.  The  issuance  of common shares and exploration expenditures
under  this  agreement  are  as  staged  as  follows:

                                      Shares               Expenditures
On  original  agreement  (issued)    200,000                    $   -0-
      Pre  reverse  split  shares
Before  April  16,  2004             150,000                     75,000
Before  April  16,  2005             150,000                    150,000
Before  April  16,  2006             150,000                    250,000
Before  April  16,  2007                   0                    300,000

                                     650,000                   $775,000

                                      F-9
<PAGE>

                 OTISH MOUNTAIN DIAMOND COMPANY AND SUBSIDIARY.
                         (An Exploration Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

                                December 31, 2003

NOTE  2  -  MINERAL  RIGHTS  -  CONTINUED
-----------------------------------------

Otish  Mountain  Diamond  Corporation

On  August 19, 2003 the Company purchased the mineral rights for 60,933 acres in
the  Otish  Mountain  and Superior Craton regions of Quebec, Canada.  The claims
were purchased for $42,506 and 1,250,000 shares of common stock.  The Company is
required  to  spend a minimum of $135 CDN per mining claim on exploration before
the  expiration  date  of each claim.  The Company is required to spend $105 CDN
per  claim  maintenance/renewal  fee  to  the appropriate governmental authority
before  the  expiration  date of the mining claim.  If the Company fails to meet
its  obligations  under  this  agreement  the  seller has the option to make the
expenditures  and  to  reassume  title  to  the  mining  claims.

On  November  4,  2003 the Company purchased the mineral rights for 775 acres in
the  Otish  Mountain  region  of  Quebec, Canada.  The Claims were purchased for
$1,855  and 250,000 shares of common stock.  The Company is required to pay a 2%
royalty  of  the  net  smelter  returns and a 2% royalty on the gross overriding
royalty  as  defined in the agreement.  The Company shall also pay to the seller
$5,000 CDN minimum annual advance royalty beginning on November 1, 2004 and each
year  thereafter.  The  Company  is  also  required to keep the property in good
standing  for  1  year  or the seller shall be entitled to reacquire the claims.

On  November  4, 2003 the Company entered into a joint venture agreement for the
mineral  rights for 15,361 acres in the Otish Mountain region of Quebec, Canada.
The  investment  was  $33,383 and 1,500,000 shares of common stock.  The Company
has  paid  the required claim tax/renewal fees of $12,495 CDN by the due date of
November  27,  2003.  The Company is required to make a minimum advanced royalty
payment of $15,000 CDN by January 20, 2004.  Royalties are subject to underlying
royalties  of  2%  of  the  net  smelter  returns and 2% of the gross overriding
royalty  as  defined  in  the agreement.  The Company total outlay for the joint
venture  shall  not  exceed  $375,000  CDN.  The  Company  owns 45% of the joint
venture.

At  present  the  Company  has  no  proven  properties.

                                      F-10
<PAGE>

                 OTISH MOUNTAIN DIAMOND COMPANY AND SUBSIDIARY.
                         (An Exploration Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

                                December 31, 2003

NOTE  3  -  SERIES  A  PREFERRED  STOCK
---------------------------------------

Each  share  of preferred outstanding at December 31, 2004 has 15 votes compared
to  each  share  of  common,  which  has  only  one  vote  per  share.

NOTE  3  -  RELATED  PARTIES
----------------------------

The  Company  owes  the  President  and  shareholder  of the Company $17,390 for
compensation  and  expense  reimbursement  at  December  31,  2003.

The  Company  has  entered  into  an  executive  employment  agreement with this
individual.  The  agreement is for the term of 1 year and calls for compensation
of  $5,000  CDN  per month, four weeks of vacation, a $3,000 CDN a month housing
allowance,  and  an  automobile.

NOTE  4  -  COMMITMENTS
-----------------------

The  Company  has entered into a six-month apartment lease that ends on April 9,
2004.  The  lease  calls  for  monthly payments of $2,700 CDN.  The apartment is
used  as  a  residence  by  the President of the Company.  Future lease payments
through  April  2004  are  $10,800  CDN.

NOTE  5  -  GOING  CONCERN
--------------------------

The  Company  has  not  generated significant revenues or profits to date.  This
factor  among  others  may  indicate the Company will be unable to continue as a
going  concern.  The  Company's continuation as a going concern depends upon its
ability  to  generate  sufficient  cash  flow  to conduct its operations and its
ability to obtain additional sources of capital and financing.  The accompanying
financial  statements  do not include any adjustments that might result from the
outcome  of  this  uncertainty.

                                      F-11
<PAGE>

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

     The  Company  changed  independent  auditors  twice  during the fiscal year
covered  by  this  report  of  Form  10-KSB.

     Effective  December  15,  2003, the client-auditor relationship between the
Company  and  Morgan  &  Company, Chartered Accountants ("Morgan") ceased as the
former accountant was dismissed which was approved by the Board of Directors. On
that date, the Company engaged Pollard-Kelley Auditing Services, Inc. ("Kelley")
as  its  principal independent public accountant. Morgan & Company had served as
the Company's auditor since November 10, 2003, after succeeding BDO Dunwoody LLP
("Dunwoody"),  who  served  as the Company's auditor from inception on September
14,  1999  to November 10, 2003. Morgan reviewed the financial statements of the
Company  for  the  interim period ended September 30 2003, but did not audit any
fiscal  or  interim  period  or  issue  a  report  with  respect  thereto.

     Kelley is succeeding Morgan as the Company's independent auditor. Kelley is
succeeding  Dunwoody  with  respect  to  an  audit  of  the  Company's financial
statements. Dunwoody audited the balance sheet of the Company as of December 31,
2001 and December 31, 2002 and the related statement of operations, statement of
stockholders'  equity,  and  the statement of cash flows from September 14, 1999
(Inception)  to December 31, 2002. Dunwoody's report on the financial statements
of  the  Company  for  the fiscal years ended December 31, 2001 and December 31,
2002  and any later interim period up to and including the date the relationship
with  Dunwoody  ceased  did  not  contain  any  adverse opinion or disclaimer of
opinion  and  was  not  qualified  or modified as to uncertainty, audit scope or
accounting  principles  except  for  concerns  about  the  Company's  ability to
continue  as  a  going  concern.

     In  connection with the audit of the Company's two most recent fiscal years
ending  December  31,  2002  and any later interim period, including the interim
periods  up  to  and including the date the relationships with Dunwoody and with
Morgan  ceased,  there  were  no  disagreements  with  Dunwoody  or with Morgan,
respectively,  on  any  matters of accounting principles or practices, financial
statement  disclosure  of auditing scope or procedure, which disagreement(s), if
not  resolved  to  the  satisfaction  of  Dunwoody  or  Morgan would have caused
Dunwoody  or  Morgan  to  make  reference  to  the  subject  matter  of  the
disagreement(s)  in connection with Dunwoody's report on the Company's financial
statements.  Since the Company's incorporation on September 14, 1999 through the
date  of  termination of Dunwoody and of Morgan, there were no reportable events
as  defined  in  Item  301(a)(1)(v)  of  Regulation  S-K.

                                      -14-
<PAGE>

     The  Company  authorized  Dunwoody to respond fully to any inquiries of any
new  auditors hired by the Company relating to their engagement as the Company's
independent  accountant.  The  Company  requested  that  Dunwoody  review  the
disclosure  and  Dunwoody was given an opportunity to furnish the Company with a
letter  addressed  to  the Securities and Exchange Commission (the "Commission")
containing any new information, clarification of the Company's expression of its
views,  or the respect in which it did not agree with the statements made by the
Company  in  the  report  of  Form 8-K filed with the Commission on November 13,
2003.  Such  letter  was  filed  as  an  exhibit  to  such  report.

     The  Company authorized Morgan to respond fully to any inquiries of any new
auditors  hired  by  the  Company  relating to their engagement as the Company's
independent  accountant. The Company requested that Morgan review the disclosure
and  Morgan  was  given  an  opportunity  to  furnish  the Company with a letter
addressed to the Commission containing any new information, clarification of the
Company's expression of its views, or the respect in which it did not agree with
the  statements  made  by  the  Company in the report of Form 8-K filed with the
Commission  on  December  18,  2003. Such letter was filed as an exhibit to such
report.

     The  Company  had not previously consulted with Kelley regarding either (i)
the  application  of  accounting  principles  to a specified transaction, either
completed  or proposed; or (ii) the type of audit opinion that might be rendered
on  the  Company's financial statements; or (iii) any matter that was either the
subject matter of a disagreement (as defined in Item 304(a)(1)(iv) of Regulation
S-K  and  the  related instructions) between the Company and Dunwoody or between
the Company and Morgan, the Company's previous independent accountants, as there
were  no  such  disagreements or any other reportable events (as defined in Item
304(a)(1)(v)  of  Regulation S-K) from the Company's incorporation on August 28,
2000  through  December  31,  2002  and  any later interim period, including the
interim period up to and including the dates the relationships with Dunwoody and
with  Morgan ceased. Neither has the Company received any written or oral advice
concluding  there  was  an  important  factor to be considered by the Company in
reaching a decision as to an accounting, auditing, or financial reporting issue.
Kelley  and Morgan reviewed the disclosure required by Item 304(a) before it was
filed  with the Commission in each of their cases and they were each provided an
opportunity  to  furnish  the  Company with a letter addressed to the Commission
containing any new information, clarification of the Company's expression of its
views,  or  the respects in which they did not agree with the statements made by
the  Company  in  response  to  Item 304(a). Kelley and Morgan did not furnish a
letter  to  the  Commission.

ITEM 8A.  CONTROLS AND PROCEDURES

     (a)  Evaluation  of disclosure controls and procedures. The Company's chief
executive  officer  and  principal  financial  officer,  after  evaluating  the
effectiveness  of the Company's "disclosure controls and procedures" (as defined
in  the Securities Exchange Act of 1934 Rules 13a-15(e) and 15d-15(e)) as of the
end  of  the  period  covered by this annual report (the "Evaluation Date"), has
concluded  that as of the Evaluation Date, the Company's disclosure controls and
procedures  were  adequate  and  designed  to  ensure  that material information
relating to the Company and its consolidated subsidiaries would be made known to
him  by  others  within  those  entities.

                                      -15-
<PAGE>

     (b)  Changes  in  internal  control over financial reporting. There were no
significant  changes  in the Company's internal control over financial reporting
during  the  fourth  fiscal  quarter  that materially affected, or is reasonably
likely  to  materially  affect,  the  Company's  internal control over financial
reporting.


                                    PART III

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

     Each  of our directors is elected by the stockholders to a term of one year
and  serves  until  his  or  her successor is elected and qualified. Each of the
officers  is  elected by the Board of Directors to a term of one year and serves
until  his or her successor is duly elected and qualified, or until he or she is
removed  from  office.  The  Board  of  Directors has no nominating, auditing or
compensation  committees.

The Directors and Officers of the Company are as follows:

<TABLE>
<CAPTION>


                                                                          Served as a
 Name                              Age      Position                     Director Since:
----                               ---      --------                     ---------------
<S>                                            <C>  <C>                       <C>
Massimiliano Pozzoni               28  Chief Executive Officer,          November 2003
                                       President and Director

Benjamin A. Carter                 31  Director                          November 2003

Jim Chapman                        45  Director                          November 2003
</TABLE>

     Massimiliano  Pozzoni  has  served as the Company's Chief Executive Officer
and  a  Director  since  November 2003. Mr. Pozzoni has served as VP of Business
Development  for Falcon Natural Gas Corp. since March 2004. Mr. Pozzoni attended
London  Business  School from 2001 to 2003 where he received his MBA. During the
summer  of  2002, Mr. Pozzoni worked as a Summer Associate at Lehman Brothers in
their private Client Services group in London and New York. From January 1999 to
June 2001, Mr. Pozzoni held various positions with Schlumberger Oilfied Services
Ltd.  such as Applications Engineer, Alliance Coordinator and Sales Engineer. He
worked  for  Schlumberger in Ecuador, Columbia and in the U.S. From 1994 to 1998
Mr. Pozzoni attended the University of Kansas in Lawrence where he received a BS
in  Business  Administration  with  an  emphasis  in  International  Business
Enterprise.

     Benjamin  A.  Carter has served as a Director of the Company since November
2003.  Mr.  Carter is an Associate at Alterra Partners which is owned by Bechtel
Enterprises and Singapore Changi Airport. From February 2003 to June 2003 he was
a Business Analyst for X-Leisure Ltd. From July 2002 to September 2002, he was a
Project  Coordinator for Virgin Atlantic, Singapore Airlines, Lufthansa, Airbus.
From  June  1999 to July 2001, he worked for Rio Tinto plc as a project Engineer
and  then as a Senior Project Engineer where he focused on new business strategy
in  South  America.  From  February  1998  to May 1999, he was Site Engineer for
Hamersley  Iron Pty Ltd in Australia. Mr. Carter attended London Business School
from  2001  to  2003  where he received an MBA with Distinction. Mr. Carter also
holds  a  Bachelor  of  Engineering  from  the  University of Western Australia.

                                      -16-
<PAGE>

     Jim  Chapman  has  served as a Director of the Company since November 2003.
From  2002  to  2003,  Mr. Chapman served as VP Exploration for Alexis Resources
Ltd.  From  1997 to 2002, Mr. Chapman served as Exploration Manager for Champion
Resources  Inc. Mr. Chapman attended the University of British Columbia where he
received  a  B.Sc.  in  Geology.

     The  Company  paid  $1,000  each  to  Benjamin  Carter  and  Jim Chapman as
compensation  for  their services as directors. The Company has not entered into
any consulting or employment contracts or other compensatory plan or arrangement
with  its  directors.  There  are  no arrangements or understandings pursuant to
which  any  person  has  been  elected as a director or executive officer of the
Company.  Directors  are  elected  annually  by the stockholders and hold office
until  the  next  annual  meeting  of  stockholders  or  until  their respective
successors  are  elected  and  qualified.  Executive officers of the Company are
elected  by  the  Board  of  Directors  and  hold  office until their respective
successors  are  elected  and  qualified.

EMPLOYMENT AND CONSULTING AGREEMENTS

     Effective  September 2003, the Company entered into an employment agreement
with  Massimiliano  Pozzoni to serve as the Company's President, Chief Executive
Officer  and  as  a Director for one year. Mr. Pozzoni receives $5,000 per month
under  the  employment  agreement.  The  Company  has also agreed to provide Mr.
Pozzoni  with  a  housing  allowance  of  $3,000 per month. The Company has also
agreed  to  pay  or  reimburse  Mr.  Pozzoni for an automobile used primarily in
business  travel  by  Mr.  Pozzoni  on  behalf  of  the  Company. If Mr. Pozzoni
terminates  the  agreement for "Good Cause" (as defined in the agreement) or the
Company terminates the agreement for no reason, the Company will be obligated to
pay  Mr.  Pozzoni a one lump sum of $15,000 in cash plus all compensation earned
through  the  date  of  termination.

     In  September  2003,  the  Company entered into a consulting agreement with
Martin St. Pierre to provide the Company with advisory consulting services using
his  background  as  a  geophysicist.  The  Company has agreed to pay Mr. Pierre
CDN$500  per  day  and each day shall consist of a minimum of 8 hours. Under the
agreement,  Mr. Pierre is to provide services for a minimum of 2 days per month.
The  agreement  is  terminable at will by either party provided that the Company
terminate  the  agreement  before  the  end  of a month otherwise the Company is
obligated  to  pay  Mr.  Pierre  for  2  days  of  services.

SECTION 16 (A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

     Section  16(a) of the securities Exchange Act of 1934, as amended, requires
the Company's directors, executive officers and persons who own more than 10% of
a  class  of  the  Company's  equity  securities  which are registered under the
Exchange Act to file with the Securities and Exchange Commission initial reports
of  ownership and reports of changes of ownership of such registered securities.
Such  executive  officers,  directors and greater than 10% beneficial owners are
required  by  Commission  regulation  to  furnish the Company with copies of all
Section  16(a)  forms  filed  by  such  reporting  persons.

     To  the Company's knowledge, based solely on a review of the copies of such
reports  furnished  to  the Company and on representations that no other reports
were  required,  no  person required to file such a report failed to file during
fiscal  2003.  Based  on stockholder filings with the SEC, Massimiliano Pozzoni,
Benjamin  Carter  and  Jim  Chapman  are  subject  to  Section  16(a)  filing
requirements.

                                      -17-
<PAGE>

CODE OF ETHICS

     The  Board of Directors adopted a Code of Ethics in April 2004, meeting the
requirements  of Section 406 of the Sarbanes-Oxley Act of 2002. The Company will
provide  to  any  person  without  charge,  upon request, a copy of such Code of
Ethics.  Persons  wishing  to  make  such  a request should contact Massimiliano
Pozzoni,  Chief  Executive  Officer,  One  Penn Plaza, Suite 3600, 250 West 34th
Street,  New  York,  New  York  10119.

Item 10. Executive Compensation

     Compensation  paid  to  Officers  and Directors is set forth in the Summary
Compensation  Table  below. The Company may reimburse its Officers and Directors
for  any and all out-of-pocket expenses incurred relating to the business of the
Company.

<TABLE>
<CAPTION>


                           SUMMARY COMPENSATION TABLE

                                                        LONG-TERM COMPENSATION
                                                   ----------------------------------
                            ANNUAL COMPENSATION          AWARDS       PAYOUTS
                          -----------------------  ------------------ -------
                                                               SECURITIES
                                                                 UNDERLY-
                                               OTHER     RE-      ING
                                               ANNUAL STRICTED  OPTIONS/           OTHER
NAME AND PRINCIPAL                             COMPEN- STOCK      SARs     LTIP    COMPEN-
     POSITION         YEAR  SALARY   BONUS     SATION  AWARD(S) (NUMBER)  PAYOUTS  SATION
------------------    ----  -------  -----   ------  -------- --------  -------    ------
<S>                   <C>                    <C>           <C>
Massimiliano Pozzoni  2003  $20,000(1) --      --       --       --       --        --
CEO, President        2002  $0         --      --       --       --       --        --
and Director

Philipp Buschmann     2003  $0         --      --  $50,000(2)    --       --        --
CEO, President        2002  $0         --      --       --       --       --        --
Secretary, Treasurer  2001  $0         --      --       --       --       --        --
and Director

Robert Rosner         2003  $          --      --       --       --       --        --
Former CEO            2002  $0 (3)     --      --       --       --       --        --
President and         2001  $0 (3)     --      --       --       --       --        --
Director
------------------
<FN>



(1)     The Company owed Mr. Pozzoni $17,390 for compensation and expense reimbursement at December 31, 2003.

(2)     The Company issued 1,000,000 shares of Series A Preferred Stock to Mr. Buschmann for his services as Chief Executive
Officer and as a Director.  The Company has the right to redeem any or all of the outstanding shares of Series A Preferred Stock
at a per share redemption price the equal to $.05 per share or an aggregate of Fifty Thousand Dollars ($50,000.00).

(3)     Mr. Rosner was due to receive $12,000 as compensation in 2002 and 2001.  Mr. Rosner did not receive any of the
compensation due to financial constraints of the Company.
</TABLE>

                                      -18-
<PAGE>

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

     The  following  table  sets  forth  information  as  of April 7, 2004, with
respect to the beneficial ownership of the common stock by (i) each director and
officer  of  the  Company,  (ii) all directors and officers as a group and (iii)
each  person  known  by the Company to own beneficially 5% or more of the common
stock:

<TABLE>
<CAPTION>


       Name and Address of                    Shares Owned           % of Class
        Beneficial Owner                      Beneficially(1)           Owned
      -------------------                   ---------------           ---------
<S>                                                     <C>        <C>
      Massimiliano Pozzoni                     5,500,000                 15.5%

      Benjamin A. Carter                         200,000                    *

      Jim Chapman                                200,000                    *

      Miranda Gold Corp.                       2,750,000                  7.8%

      All Officers and Directors               5,900,000                 16.7%
      as a Group (3 people)
<FN>


*     Less than 1%

(1)     Beneficial ownership has been determined in accordance with Rule 13d-3 of the
Securities Exchange Act of 1934, as amended.  Generally, a person is deemed to be the
beneficial owner of a security if he has the right to acquire voting or investment power
within 60 days of the date of this report on Form 10-KSB.
</TABLE>

     This table is based upon information derived from our stock records. Unless
otherwise  indicated,  we  believe  that  each of the stockholders named in this
table  has sole or shared voting and investment power with respect to the shares
indicated  as  beneficially  owned. Except as otherwise noted herein, we are not
aware  of  any  arrangements  which  may  result  in  a  change  in our control.

ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

     In  December  2003, the Company issued 5,000,000 shares of its common stock
to  Massimiliano  Pozzoni, the Company's Chief Executive Officer and a Director,
pursuant  to  the Exchange. The Company also issued 200,000 shares of its common
stock  each  to  Benjamin  Carter  and  Jim  Chapman  pursuant  to the Exchange.

     In  November  2003, Robert Rosner, the Company's former President and Chief
Executive  Officer,  entered  into  an  agreement  with the Company, whereby Mr.
Rosner  agreed  to convert debt of approximately $232,120 into 236,120 shares of
Company  common  stock.

                                      -19-
<PAGE>

     In October, 2003, the Company issued 1,000,000 shares of Series A Preferred
Stock,  that  are  entitled to fifteen (15) votes per shares (or an aggregate of
15,000,000  votes),  to Philipp Buschmann in consideration for services rendered
to  the  Company as its former Chief Executive Officer and as a former Director.

     Effective  September 2003, the Company entered into an employment agreement
with  Massimiliano  Pozzoni to serve as the Company's President, Chief Executive
Officer  and  as  a Director for one year. Mr. Pozzoni receives $5,000 per month
under  the  employment  agreement.  The  Company  has also agreed to provide Mr.
Pozzoni  with  a  housing  allowance  of  $3,000 per month. The Company has also
agreed  to  pay  or  reimburse  Mr.  Pozzoni for an automobile used primarily in
business  travel  by  Mr.  Pozzoni  on  behalf  of  the  Company. If Mr. Pozzoni
terminates  the  agreement for "Good Cause" (as defined in the agreement) or the
Company terminates the agreement for no reason, the Company will be obligated to
pay  Mr.  Pozzoni a one lump sum of $15,000 in cash plus all compensation earned
through  the  date  of  termination.  The  Company  owes Mr. Pozzoni $17,390 for
compensation  and  expense  reimbursement  at  December  31,  2003.


     Concurrently  with  the  closing  of  the  acquisition  of  the  Money Club
Financial  business  concept, Mr. Rosner surrendered 12,500 post-split shares of
the  Company's  common stock for cancellation and transferred to Ms. Lugo 12,500
post-split  shares  of his common stock. Mr. Carl Chow, the former Secretary and
Treasurer,  surrendered  62,500  post-split shares of the Company's common stock
for  cancellation  concurrent  with  the  closing.  The  surrender of shares for
cancellation by Mr. Chow and Mr. Rosner and the transfer of shares by Mr. Rosner
to  Ms.  Lugo were conditions precedent to the closing of the acquisition of the
assets  under  the  terms  of  the  acquisition  agreement.

ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K

     (a)  EXHIBITS

    Exhibit No.        Description of Exhibit
   ----------          ----------------------

     2.1               Exchange Agreement                            (1)

     3.1               Articles of Incorporation                     (2)

     3.2               Certificate of Designation                    (3)

     3.3               Articles of Amendment to Articles
                       of Incorporation                              (4)

     3.4              Certificate of Amendment

     3.5              Bylaws                                        (2)

     10.1             Option Agreement, Cahill Mineral
                      Claims                                        (5)

                                      -20-
<PAGE>

     10.2             Option Agreement, Eddy Mineral
                      Claims                                        (6)

     10.3             Option Amended Agreement, Cahill
                      Mineral Claims                                (7)

     10.4             Assignment of Interest in Mineral
                      Property Option Agreements                    (1)

     10.5             Executive Employment Agreement with
                      Massimiliano Pozzoni                          (1)

     10.6             Consulting Agreement with Martin
                      Martin St. Pierre                             (1)

     16.1             Letter from BDO Dunwoody, LLP                 (8)

     16.2             Letter from Morgan & Company,
                      Chartered Accountants                         (9)

        31            Certificate of the Chief Executive
                      Officer and Principal Financial Officer
                      pursuant Section 302 of the Sarbanes-
                      Oxley Act of 2002                              *

        32            Certificate of the Chief Executive
                      Officer and Principal Financial Officer
                      pursuant to Section 906 of the Sarbanes-
                      Oxley Act of 2002                              *

     (1)  Filed  as  Exhibits  2.1,  10.1,  10.2, and 10.3 to report on Form 8-K
          filed  on  December  3,  2003,  and  incorporated herein by reference.

     (2)  Filed  as Exhibits 3.1 and 3.2 to registration statement on Form SB-2,
          as  amended,  filed  on  April  22,  2001,  and incorporated herein by
          reference.

     (3)  Filed as Exhibit 3.1, to report on Form 8-K filed on October 20, 2003,
          and  incorporated  herein  by  reference.

     (4)  Filed  as  an  Exhibit  3.1 to report on Form 8-K filed on October 23,
          2003,  and  incorporated  herein  by  reference.

     (5)  Filed  as  Exhibit  10.2 to report on Form 8-K filed on March 5, 2003,
          and  incorporated  herein  by  reference.

     (6)  Filed  as  Exhibit 10.3 to report on Form 8-K filed on April 22, 2003,
          and  incorporated  herein  by  reference.

     (7)  Filed  as  Exhibit  10.4  to report on Form 10-QSB filed on August 19,
          2003,  and  incorporated  herein  by  reference.

     (8)  Filed  as  Exhibit  16.1  to  report on Form 8-K filed on November 13,
          2003,  and  incorporated  herein  by  reference.

     (9)  Filed  as  Exhibit  16.2  to  report on Form 8-K filed on December 18,
          2003,  and  incorporated  herein  by  reference.

     *    Filed  herewith  as  an  exhibit.

                                      -21-
<PAGE>

     (b)  REPORTS ON FORM 8-K

     The  Company  filed  the  following five (5) reports on Form 8-K during the
last  quarter  of  the  fiscal  period  covered  by  this  report:

     (1)  Form  8-K  filed  on  October  20,  2003,  to  report  the filing of a
          certificate  of  Designation of Series A Preferred Stock, the issuance
          of  Series  A  Preferred Stock to Philipp Buschmann that resulted in a
          change  in  control  of  the  Company.

     (2)  Form  8-K  filed  on  October  23, 2003, to report an amendment to the
          articles  of  incorporation  regarding  a name change, a reverse stock
          split,  an  increase in authorized shares and a new trading symbol for
          the  Company's  common  stock.

     (3)  Form  8-K filed on November 13, 2003, to dismiss the former accountant
          and  appoint  a  new  principal  independent  public  accountant.

     (4)  Form  8-K  filed  on  December 3, 2003, to report the acquisition of a
          significant  amount  of  assets and the resignation and appointment of
          officers  and  directors.

     (5)  Form  8-K filed on December 18, 2003, to dismiss the former accountant
          and  appoint  a  new  principal  independent  public  accountant.

The  Company  filed  the  following  report  on  Form 8-K subsequent to the last
quarter  of  the  fiscal  period  covered  by  this  report:

     (6)  Form  8-K/A  filed  on January 2, 2004, to amend the Form 8-K filed on
          December  3,  2003,  to  report audited financial information of Otish
          Mountain  Diamond  Corp. The Company provided an audited Balance Sheet
          of  Otish  Mountain  Diamond  Corp.  as  of November 30, 2003, and the
          related  Statement  of  Operations, Statement of Stockholders' Equity,
          and  Statement  of  Cash  Flows for the period then ended. The Company
          also  provided an unaudited Pro-Forma Consolidated Balance Sheet as of
          September  30,  2003.

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES

AUDIT FEES

     The  Company was a shell at the time of the acquisition having only $192 in
assets;  the  acquisition  was  treated as a reverse merger whereby the acquired
company is treated as the acquiring company for accounting purposes. Since Otish
Corp.,  the  acquired  company  was  incorporated in August 2003; no comparative
financial  statements  are  presented.

     The  aggregate  fees  billed for each of the fiscal year ended December 31,
2003  for  professional  services  rendered  by the principal accountant for the
audit  of  the  Company's  annual financial statements was $5,000. The aggregate
fees billed for each of the fiscal year ended December 31, 2003 for professional
services  rendered  by  the  principal  accountant  for  review of the financial
statements  included  in  the  registrant's Form 10-QSB or for services that are
normally  provided by the accountant in connection with statutory and regulatory
filings  or  engagements  for  those  fiscal  years  was  $0.

                                      -22-
<PAGE>

AUDIT RELATED FEES

None

TAX FEES

None

ALL OTHER FEES

None.

                                   SIGNATURES

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


                                        OTISH MOUNTAIN DIAMOND COMPANY

DATED: April 14, 2004                 By: /s/ Massimiliano Pozzoni
                                             ------------------------
                                             Massimiliano Pozzoni
                                             Chief Executive Officer


In accordance with 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.

NAME                           TITLE                         DATE

/s/ Massimiliano Pozzoni      Chief Executive Officer        April 14, 2004
----------------------        and Director
Massimiliano Pozzoni          (Principal Executive Officer)


/s/ Massimiliano Pozzoni      Chief Financial Officer        April 14, 2004
----------------------        and Director
Massimiliano Pozzoni          (Principal Financial Officer)

/s/ Benjamin Carter           Director                       April 14, 2004
----------------------
Benjamin Carter

/s/ Jim Chapman               Director                       April 14, 2004
----------------------
Jim Chapman

                                      -23-
<PAGE>

Exhibit 31


CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER PURSUANT TO
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Massimiliano Pozzoni, certify that:

1.     I have reviewed this Annual Report on Form 10-KSB of Otish Mountain
Diamond Company;

2.     Based on my knowledge, this report does not contain any untrue statement
of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were
made, not misleading with respect to the period covered by this report;

3.     Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the small business
issuer as of, and for, the periods presented in this report;

4.     I am responsible for establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the
small business issuer and have:

a)     Designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under my supervision, to
ensure that material information relating to the small business issuer,
including its consolidated subsidiaries, is made known to me by others within
those entities, particularly during the period in which this report is being
prepared;

b)     Paragraph omitted in accordance with SEC transition instructions
contained in SEC Release No. 33-8238;

c) Evaluated the effectiveness of the small business issuer's disclosure
controls and procedures and presented in this report my conclusions about the
effectiveness of the disclosure controls and procedures, as of the end of the
period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the small business issuer's internal
control over financial reporting that occurred during the small business
issuer's fourth fiscal quarter that has materially affected, or is reasonably
likely to materially affect, the small business issuer's internal control over
financial reporting; and

5.     I have disclosed, based on my most recent evaluation of internal control
over financial reporting, to the small business issuer's auditors and the audit
committee of small business issuer's board of directors (or persons performing
the equivalent functions):

a)     All significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are reasonably
likely to adversely affect the small business issuer's ability to record,
process, summarize and report financial information; and

b)     Any fraud, whether or not material, that involves management or other
employees who have a significant role in the small business issuer's internal
control over financial reporting.

Date:  April 14, 2004


                                   By: /s/ Massimiliano Pozzoni
                                   -------------------------------
                                   Massimiliano Pozzoni,
                                   Chief Executive Officer and
                                   Chief Financial Officer

<PAGE>

Exhibit 32


CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER PURSUANT TO
                 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


I, Massimiliano Pozzoni, certify, pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that the Annual
Report of Otish Mountain Diamond Company on Form 10-KSB for the fiscal year
ended December 31, 2003 fully complies with the requirements of Section 13(a) or
15(d) of the Securities Exchange Act of 1934 and that information contained in
such Form 10-KSB fairly presents in all material respects the financial
condition and results of operations of Otish Mountain Diamond Company.


                                     By:/s/ Massimiliano Pozzoni
                                     --------------------------
                                     Name:  Massimiliano Pozzoni
                                     Title: Chief Executive Officer and
                                     Chief Financial Officer
April 14, 2004

<PAGE>