SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  FORM 10 - KSB/A

[X]  ANNUAL REPORT  PURSUANT TO SECTION 13 OR 15(D) OF THE  SECURITIES  EXCHANGE
     ACT OF 1934[FEE REQUIRED]

                   For the fiscal year ended December 31, 2003
                                       OR

[ ]  TRANSITION  REPORT UNDER SECTION 13 OR 15(D) OF THE  SECURITIES  EXCHANGE
     ACT OF 1934[NO FEE REQUIRED]
     For the transition period from       to
                                   ------   -------

                           COMMISSION FILE NO. 0-17114

                      DEFAULT PROOF CREDIT CARD SYSTEM, INC
                      -------------------------------------
                 (Name of small business issuer in its charter)

                 Florida                                59-2686523
                 -------                                ----------
         (State or other jurisdiction of                (I.R.S. Employer
         incorporation or organization)                Identification No.)

                  1545 Miller Road, Coral Gables, Florida 33146
                  ---------------------------------------------
               (Address of principal executive offices) (Zip Code)

                  Registrant's telephone number: (305)666-1460
                                                 -------------

Securities Registered pursuant to Section 12(b) of the Act:

         Title of each class     Name of each exchange on which registered
         -------------------     -----------------------------------------
                  None                                None

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

                         Common Stock, Par Value $ 0.01
                         ------------------------------
                                (Title of Class)

     Check whether the issuer (1) has filed all reports  required to be filed by
Section 13 or 15(d) of the Securities  Exchange Act of 1934 during the preceding
12 months (or for such shorter  period that the  registrant was required to file
such reports), and (2) has been subject to such filing requirements for the past
90 days.

Yes  X    No
   ------    ------

     Check if there is no disclosure  of  delinquent  filers in response to item
405 of Regulation  S-B,  contained in this form 10-KSB and no disclosure will be
contained,  to the best of registrant's knowledge, in definite proxy information
statements  incorporated  by  reference  Part  III of this  Form  10-KSB  or any
amendment  to this Form  10-KSB [ ].

     The issuer's revenue for its most recent fiscal year was: Nil

     The aggregate  market value of the voting stock held by  non-affiliates  of
the  registrant  (based  upon the  NASDAQ  average  bid and  asked  prices as of
February 4, 2002 of shares issued and  outstanding  of the  registrant's  common
stock $0.01 par value as of February 25, 2004 was: 2,097,550.

<PAGE>


CERTIFICATION OF FINANCIAL STATEMENTS
-------------------------------------

The Chief  Executive  and  Financial  Officer have reviewed the 10KSB report and
that,  based on their  knowledge,  it 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, not misleading. Based on his knowledge, the
financial  statements,  and other financial  information included in the report,
fairly present in all material  respects the company's  financial  condition and
results of operations of the issuer as of, and for, the periods  represented  in
the report.

The signing officers are responsible for  establishing and maintaining  internal
controls  and have  designed  such  internal  controls to ensure  that  material
information  related to the company is made known to them,  particularly  during
the time in which the periodic report is being prepared.  Moreover, the officers
must  certify that they have  evaluated  the  effectiveness  of the controls and
procedures  within 90 days of the date of the report and have  presented  in the
report  their  conclusions  about  their  effectiveness  based  on the  required
evaluation as of that date.

The signing  officers  have  disclosed to the company  auditors and to the board
audit  committee  all  significant  deficiencies  in the design or  operation of
internal  controls that could adversely  affect the company's  ability to record
and report  financial  data and have  identified  for the  auditors any material
weaknesses in internal controls,  as well as any fraud, whether or not material,
that involves  management or other employees who have a significant  role in the
company's internal controls.

Finally,  the signing  officers  certify that they have  indicated in the report
whether or not there were significant  changes in internal  controls or in other
factors that could significantly affect internal controls subsequent to the date
of their evaluation, including any corrective actions with regard to significant
deficiencies and material weaknesses.



                                DEFAULT PROOF CREDIT CARD SYSTEM, INC.

Dated: April 6, 2004            By: /s/ VINCENT CUERVO
                                ---------------------------------------
                                Vincent Cuervo
                                Chief Executive Officer


                                By: /s/CHARLES A. MENENDEZ
                                ---------------------------------------
                                Chief Financial Officer


<PAGE>

                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant has duly caused this report on its behalf by the undersigned hereunto
duly authorized.

                                   DEFAULT PROOF CREDIT CARD SYSTEM, INC.

Date: April 6, 2004                By: VINCENT CUERVO
      -----------------                   -----------------
                                           Vincent Cuervo
                                           President & CEO