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<SEC-DOCUMENT>0001062993-04-000378.txt : 20040330
<SEC-HEADER>0001062993-04-000378.hdr.sgml : 20040330
<ACCEPTANCE-DATETIME>20040330121433
ACCESSION NUMBER:		0001062993-04-000378
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20031231
FILED AS OF DATE:		20040330

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTERNATIONAL GEMINI TECHNOLOGY INC
		CENTRAL INDEX KEY:			0000795800
		STANDARD INDUSTRIAL CLASSIFICATION:	PATENT OWNERS & LESSORS [6794]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		20-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14740
		FILM NUMBER:		04699085

	BUSINESS ADDRESS:	
		STREET 1:		#106 - 1008 BEACH AVE
		CITY:			VANCOUVER BC CANADA
		STATE:			A1
		ZIP:			V6E 1T7
</SEC-HEADER>
<DOCUMENT>
<TYPE>20-F
<SEQUENCE>1
<FILENAME>form20f.htm
<DESCRIPTION>ANNUAL REPORT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2003
<TEXT>
<!DOCTYPE HTML PUBLIC "form20f">


<HTML>
<HEAD>
   <TITLE>Filed by Automated Filing Services Inc. (604) 609-0244 - International Gemini Technology Inc. - Form 20-F</TITLE>


</HEAD>

<BODY bgcolor="#FFFFFF" style="font-size: 10pt;">
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<A name="page_1"></A><HR noshade align="center" width="100%" size=3 color="black"><P align="center"><font size="5"><strong>UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION</strong></font><br> Washington, D.C. 20549</P>
<P align="center"><B><font size="5">FORM 20-F</font></B></P>
<p align="center">(Mark One)<BR>
  <font size="3" face="WINGDINGS"><strong>&#168;</strong></font><strong>&nbsp;&nbsp;</strong>
  Registration statement pursuant to Section 12(b) or 12(g) of the Securities
  Exchange Act of 1934 <br>
  or<br>
  <font size="3" face="WINGDINGS"><strong>&#120;</strong></font><strong>&nbsp;&nbsp;
  </strong>Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange
  Act of 1934 <br>
  for the fiscal year ended <U><strong>December 31, 2003</strong><br>
  </U>or<BR>
  <font size="3" face="WINGDINGS"><strong>&#168;</strong></font><strong>&nbsp;&nbsp;</strong>Transition
  Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934<br>
  [No fee required]</p>
<p align="center"> For the transition period from ___________________ to __________________</p>
<p align="center"> Commission file number<strong><u> 0-30858</u></strong></p>
<p align="center"> <font size="5"><strong><u>INTERNATIONAL GEMINI TECHNOLOGY INC.</u></strong></font><BR>
  (Exact name of registrant as specified in its charter)</p>
<p align="center"> <strong><u>Province of British Columbia, Canada</u></strong><br>
  (Jurisdiction of incorporation or organization)</p>
<p align="center"> <strong><u>208-828 Harbourside Drive, North Vancouver, British
  Columbia, Canada V7P 3R9 </u></strong><br>
  (Address of principal executive offices) (Zip Code)</p>
<p align="center"> Registrant&#146;s telephone number, including area code <strong><u>(604)
  904-8481</u></strong></p>
<p align="center"> Securities registered or to be registered pursuant to Section
  12(b) of the Act.</p>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR align="center">
    <TD width="45%">Title of each class</TD>
    <TD width="10%">&nbsp;</TD>
    <TD>Name of each exchange on which registered</TD>
  </TR>
  <TR align="center">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR align="center">
    <TD width="45%"><u><strong>None</strong></u></TD>
    <TD width="10%">&nbsp;</TD>
    <TD><u><strong>None pending a transaction</strong></u></TD>
  </TR>
</TABLE>
<P align="center"> Securities registered or to be registered pursuant to Section
  12(g) of the Act: </P>
<P align="center"> <strong><u>Common Shares, no par value </u></strong><br>
  (Title of Class) </P>
<P align="center"> 1 </P>

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<A name="page_2"></A>
<P align="center"> Securities for which there is a reporting obligation pursuant
  to Section 15(d) of the Act: <br>
  <strong><u>None </u></strong><br>
  (Title of Class) </P>
<P align="center"> Indicate the number of outstanding shares of each of the issuer&#146;s
  classes of capital or common shares at December 31, 2003&#150; 9,666,848 inclusive
  of the conversion of the balance of the Series 1 Convertible Preferred shares<B>.
  </B> </P>
<P align="center"> Indicate by check mark whether the Registrant (1) has filed
  all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
  Act of 1934 during the preceding 12 months (or for such shorter period that
  the Registrant was required to file such reports), and (2) has been subject
  to such filing requirements for the past 90 days. <br>
  Yes&nbsp;&nbsp;<font size="3" face="WINGDINGS"><strong>&#120;</strong></font><strong>&nbsp;</strong>
  No&nbsp;<font size="3" face="WINGDINGS"><strong>&#168;</strong></font><strong>&nbsp;</strong></P>
<P align="center"> Indicate by check mark which financial statement item the Registrant
  has elected to follow. Item 17 <font size="3" face="WINGDINGS"><strong>&#120;</strong></font><strong>&nbsp;</strong>
  &nbsp;&nbsp;Item 18&nbsp;<font size="3" face="WINGDINGS"><strong>&#168;</strong></font>
  . </P>
<P align="center"> <B>Unless otherwise indicated, all references herein are expressed
  in Canadian dollars and United States currency is stated as &#147;U.S.$__________
  .&#148; </B> </P>
<P align="center"> <B>THIS SUBMISSION SHOULD BE CONSIDERED IN CONJUNCTION WITH
  PREVIOUSLY FILED FORMS 20-F. THE AUDITED FINANCIAL STATEMENTS AND NOTES HERETO
  ATTACHED ARE AN INTEGRAL PART OF THIS SUBMISSION. </B> </P>
<P>
2
</P>

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<A name="page_3"></A>

<P align="center"> <font size="3">International Gemini Technology, Inc. </font>
</P>
<P> <B>ITEM 1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IDENTITY
  OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS </B> </P>
<P>
Not required
</P>
<P> <B>ITEM 2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OFFER
  STATISTICS AND EXPECTED TIMETABLE </B> </P>
<P>
Not applicable.
</P>
<P> <B>ITEM 3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KEY
  INFORMATION </B> </P>
<P> <B>A</B><B>. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selected
  financial data. </B> </P>
<P align="justify"> The following selected financial data has been extracted from
  the consolidated financial statements for the last five years prepared pursuant
  to Canadian generally accepted accounting principles (&#147;GAAP&#148;). Where
  material differences exist between Canadian and US GAAP, corresponding comparison
  data has been provided in US GAAP for clarity. </P>
<P>
3
</P>

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<A name="page_4"></A>
<P> <B>International Gemini Technology Inc. </B> <br>
  Selected Financial Data<B><br>
  </B>(Expressed in Canadian Dollars) </P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD>&nbsp;</TD>
    <TD align="center" width="1%">&nbsp;</TD>
    <TD colspan=9 align="center"><B>12 Months ended December 31</B></TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD align="center" width="1%">&nbsp;</TD>
    <TD align="center" width="12%"><B>2003</B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD align="center" width="12%"><B>2002</B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD align="center" width="12%"><B>2001</B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD align="center" width="12%"><B>2000</B></TD>
    <TD width="2%" align="center">&nbsp;</TD>
    <TD align="center" width="12%"><B>1999</B></TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>Net Operating Revenues</TD>
    <TD width="1%" align="center">$</TD>
    <TD width="12%" align="right">3,000</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">22,000</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">0</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">82,500</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">120,000</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>Income from continued</TD>
    <TD width="1%" align="center">$</TD>
    <TD width="12%" align="right">(37,863</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="12%" align="right">(35,443</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="12%" align="right">(23,805</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="12%" align="right">60,375</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">93,203</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;operations</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>Income from discontinued</TD>
    <TD width="1%" align="center">$ </TD>
    <TD width="12%" align="right">N/a</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">N/a</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">N/a</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">N/a</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">N/a</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;operations</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>Net income</TD>
    <TD width="1%" align="center">$</TD>
    <TD width="12%" align="right">(37,863</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="12%" align="right">(35,443</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="12%" align="right">(23,805</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="12%" align="right">60,375</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">93,203</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>Income per share from</TD>
    <TD width="1%" align="center">$</TD>
    <TD width="12%" align="right">0</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">0</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">0</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">.01</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">.01</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;continued operations</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>Income per share from</TD>
    <TD width="1%" align="center">$</TD>
    <TD width="12%" align="right">0</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">0</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">0</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">0</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">0</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;discontinued operations</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>Income per share after</TD>
    <TD width="1%" align="center">$</TD>
    <TD width="12%" align="right">0</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">0</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">0</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">.01</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">.01</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;discontinued operations</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>Share capital per Canadian</TD>
    <TD width="1%" align="center">$</TD>
    <TD width="12%" align="right">13,265,283</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">13,265,283</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">13,265,283</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">13,265,283 </TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">13,265,283</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GAAP</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>Common shares issued</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">8,323,1129</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">8,323,1129</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">8,323,119</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">8,323,119</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">1,284,972</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>Weighted average shares</TD>
    <TD width="1%">&nbsp;</TD>
    <TD align="right" width="12%">9,666,848</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD align="right" width="12%">9,666,848</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD align="right" width="12%">9,666,848</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">9,666,848</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD align="right" width="12%">9,666,848</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;outstanding per
      Canadian</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GAAP</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>Total Assets</TD>
    <TD align="center" width="1%">$</TD>
    <TD align="right" width="12%">49,070</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD align="right" width="12%">157,186</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD align="right" width="12%">134,991</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">216,221</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD align="right" width="12%">130,180</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>Net Assets (liabilities)</TD>
    <TD align="center" width="1%">$</TD>
    <TD align="right" width="12%">36,715</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD align="right" width="12%">74,578</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD align="right" width="12%">109,842</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">133,047</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD align="right" width="12%">72,672</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>Convertible</TD>
    <TD align="center" width="1%">$</TD>
    <TD align="right" width="12%"> N/a</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD align="right" width="12%">N/a</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD align="right" width="12%">N/a</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD align="right" width="12%">N/a</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD align="right" width="12%">N/a</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;debentures(current
      and</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;long term portions)
      per</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. GAAP )</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
</TABLE>
<P>
4
</P>

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<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR bgcolor="#E6EFFF">
    <TD>Cash Dividends Declared</TD>
    <TD width="1%" align="center">$</TD>
    <TD width="12%" align="right">0</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%" align="right">0</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%" align="right">0</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%" align="right">0</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%" align="right">0</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per Common Shares</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>Exchange Rates (Cdn$ to</TD>
    <TD width="1%" align="center">$</TD>
    <TD width="12%" align="right">0.7135</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%" align="right">0.6368</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%" align="right">0.6458</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%" align="right">0.6733</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%" align="right">0.6730</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S.$) Period Average</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
</TABLE>
<br>
<table width="100%" border="1" cellpadding="0" cellspacing="0" bordercolor="#000000" style="font-size: 10pt;">
  <tr>
    <td valign="top">&nbsp;</td>
  </tr>
</table>
<br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD> Exchange Rates (CDN$ to </TD>
    <TD align="center" width="1%">&nbsp;</TD>
    <TD align="right" width="12%"><B>Period High</B></TD>
    <TD width="5%">&nbsp;</TD>
    <TD align="right" width="12%"><B>Period Low</B></TD>
    <TD width="45%">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S.$
      ) for most recent six</TD>
    <TD align="center" width="1%">&nbsp;</TD>
    <TD align="right" width="12%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD align="right" width="12%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;months </TD>
    <TD align="center" width="1%">&nbsp;</TD>
    <TD align="right" width="12%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD align="right" width="12%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
  </TR>
  <TR>
    <TD bgcolor="#E6EFFF">September 2003 </TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF">$</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">0.7356</TD>
    <TD width="5%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">0.7303</TD>
    <TD width="45%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>October 2003 </TD>
    <TD align="center" width="1%">$</TD>
    <TD align="right" width="12%">0.7581</TD>
    <TD width="5%">&nbsp;</TD>
    <TD align="right" width="12%">0.7526</TD>
    <TD width="45%">&nbsp;</TD>
  </TR>
  <TR>
    <TD bgcolor="#E6EFFF">November 2003 </TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF">$</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">0.7644</TD>
    <TD width="5%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">0.7593</TD>
    <TD width="45%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>December 2003 </TD>
    <TD align="center" width="1%">$</TD>
    <TD align="right" width="12%">0.7647</TD>
    <TD width="5%">&nbsp;</TD>
    <TD align="right" width="12%">0.7588</TD>
    <TD width="45%">&nbsp;</TD>
  </TR>
  <TR>
    <TD bgcolor="#E6EFFF">January 2004 </TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF">$</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">0.7744</TD>
    <TD width="5%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">0.7685</TD>
    <TD width="45%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>February 2004 </TD>
    <TD align="center" width="1%">$</TD>
    <TD align="right" width="12%">0.7552</TD>
    <TD width="5%">&nbsp;</TD>
    <TD align="right" width="12%">0.7489</TD>
    <TD width="45%">&nbsp;</TD>
  </TR>
  <TR>
    <TD bgcolor="#E6EFFF"> Exchange Rate (CDN$ to </TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF">$</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">0.7575</TD>
    <TD width="5%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S.$) </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
  </TR>
  <TR>
    <TD bgcolor="#E6EFFF">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 26, 2004 </TD>
    <TD width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="5%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
  </TR>
</TABLE>
<p><B>B. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Not
  required</p>
<p><B>C. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Not
  required</p>
<p><B>D. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B>Risk
  factors.</B></p>
<p align="justify"> The business of the Company entails significant risks, and
  an investment in the securities of the Company should be considered highly speculative.
  An investment in the securities of the Company should only be undertaken by
  persons who have sufficient financial resources to enable them to assume such
  risks. The following is a general description of all material risks, which can
  adversely affect the business and in turn the financial results, ultimately
  affecting the value of an investment the Company.</p>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD width="5%" valign="top">&nbsp;</TD>
    <TD valign="top"><p align="justify"><B><I>The Company Has No Viable Business.</I></B></p>
      <p align="justify"> <B><I>The Company Has No Funds.</I></B></p>
      <p align="justify"> <B><I>There Is No Assurance That The Company Can Access
        Additional Capital.</I></B></p>
      <p align="justify"> <B><I>The Company Has A History Of Operating Losses
        And May Have Operating Losses And A Negative Cash Flow In the Future.</I></B></p>
      <p align="justify"> <B><I>The Company&#146;s Auditors Have Indicated That
        U.S. Reporting Standards Would&nbsp;&nbsp;</I></B></p></TD>
  </TR>
</TABLE>

<p>5</p>
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<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="5%" valign="top">&nbsp;</td>
    <td><P align="justify"><B><I>Require Them To Raise A Concern About The Company&#146;s
        Ability To Continue As A Going Concern.</I></B> </P>
      <P align="justify"> <B><I>There Is No Market For Our Common Shares</I></B>
      </P>
</td>
  </tr>
</table>
<P align="justify"><B>ITEM 4. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INFORMATION
  ON THE COMPANY </B> </P>
<P align="justify"> <B>A</B><B>. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;History
  and development of the Company. </B> </P>
<P align="justify"> International Gemini Technology Inc. resulted from a one for
  five reverse split of the common shares of Gemini Technology Inc. accomplished
  in 1993. International Gemini Technology Inc. was incorporated under the laws
  of the Province of British Columbia, Canada, by filing of Memorandum and Articles
  of Association on September 20, 1983, under the name Rainbow Resources Ltd.
  The company&#146;s name was changed to Widescope Resources Ltd. on May 1, 1984,
  and to Gemini Technology Inc. on September 17, 1985. Registrant is currently
  in good standing under the laws of British Columbia.The registered and records
  office of the Company and the Company&#146;s principal executive offices are
  located at 208-828 Harbourside Drive North Vancouver, British Columbia V7P 3R9,
  telephone 604-904-8481. </P>
<P align="justify"> From September 1985 the company became involved in the design
  and marketing of a circuit board for a Zenith computer that allowed it to emulate
  an IBM PC and utilize much of the related software. Over the next year it broadened
  its product line to include proprietary computer graphics chips, custom electronic
  components and equipment. As the line of proprietary computer graphics chips
  were in final development, the demand for the circuit boards for the Zenith
  computer ended. </P>
<P align="justify"> The company licensed its graphics chips to third parties,
  and concentrated on developing second and third generation products. Due to
  cash flow problems brought about by external and unforeseeable circumstances,
  and bad management decisions the company was forced into a position of attempting
  to develop a new generation product with little cash. </P>
<P align="justify"> In August of 1989 the board changed direction and top management.
  The new strategy was to accelerate R&amp;D on a blockbuster new product, targeting
  a small number of very large customers. With little cash and little ongoing
  revenue, the inevitable delays to the R&amp;D process caused the company to
  be unable to meet payroll in February 1990. All of management resigned and the
  board of directors was changed. The shareholders spearheaded an effort to save
  the Company, which eventually resulted in the change to the board of directors
  and a plan to revive the Company's operations. </P>
<P align="justify"> During 1991 the Company concentrated considerable effort on
  establishing a joint venture in Czechoslovakia to exploit the European market,
  as well as effort to establish a considerable technical presence in the Middle
  East. In addition, contracts and joint ventures were pursued in Russia, Singapore
  and Taiwan. As yet none of these efforts has yielded tangible results. </P>
<P align="justify"> A great deal of time and energy has been expended in 1993
  and 1994 in an effort to target and conclude an acquisition that would be complimentary
  to Gemini's technical and financial </P>
<P align="justify"> 6 </P>

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<P align="justify"> capabilities. This effort continued through 1996, and at the
  end of 1996 has been unsuccessful. In July of 1997, Gemini entered into discussions
  to acquire the assets and intellectual property of Abraham Publishing Group
  Inc. and certain other privately owned assets which in combination operate as
  a profitable publishing business. These discussions and negotiations had not
  been concluded by the end of 1997, but in the first quarter of 1998 resulted
  in an acquisition agreement with closing conditional on raising US$3.25 million
  in expansion capital. </P>
<P align="justify"> Closing had not taken place by the end of 1998 due to small
  cap market conditions frustrating efforts to raise the required capital. Initiatives
  were undertaken to identify and review other potential acquisition or mergers
  requiring less capital. </P>
<P align="justify"> The dot.com frenzy in the years 1999 and 2000 distorted valuations
  and made any prospective acquisition prohibitively expensive. The return to
  more normal valuations after mid 2000 has resulted in fewer but more reasonably
  priced prospective candidates. However as valuations became more reasonable
  the sources of funding became fewer. And the events of September 11 virtually
  shut down the availability of funding for most smaller transactions, particularly
  the size targeted by the company. Toward the end of the year discussions were
  entered into on a proprietary medical device, which had met some amount of success
  in a niche market in Texas. At yearend discussions were progressing, particularly
  as it appeared that this device could be sold in considerable quantity by the
  application of effective marketing. This was abandoned as marketing was found
  not to be the greatest challenge. The greatest challenge was providing the paperwork
  for the multiplicity of insurers ultimately paying for the use of the device.
</P>
<P align="justify"> During 2002 due diligence was done on two businesses, but
  neither was able to demonstrate the business case necessary for expansion financing.
  Accordingly neither was pursued further as a merger or acquisition candidate,
  despite one being in the bus shelter advertising business, a business usually
  demonstrating generally attractive economics. </P>
<P align="justify"> During 2003 due diligence was done on several more businesses.
  All but one were abandoned as not being able to support the additional financing
  required to close. One of those abandoned became the subject of further review
  toward the end of the year as the owners lowered their price expectation. At
  year end, alternatives were being considered including merging with a like business,
  also available. A separate business was the subject of low level investigation
  throughout the year, as it was fairly early stage. It remained under observation
  at year end, having made considerable business progress. </P>
<P align="justify"> <B>B</B><B>. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Business
  overview. </B> </P>
<P align="justify"> The company&#146;s sole activity is its search for a suitable
  acquisition or acquisitions that can be made and financed at prices and terms
  that make business sense. The acquisitions targeted will provide products and/or
  services to customers largely in the United States. They should also have the
  potential to be grown significantly by excellence in marketing. </P>
<P align="justify"> World economic conditions, including the trade and budget
  deficits in the United States, have made the case for precious metals a compelling
  one. This, combined with the availability of </P>
<P align="justify"> 7 </P>

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<P align="justify"> capital for precious metals projects has expanded the acquisition
  search to include precious metals exploration and development opportunities.
</P>
<P align="justify"> <B>C</B><B>. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Organizational
  structure. </B> </P>
<P align="justify"> The company is part of no other group, nor does it have any
  subsidiaries. </P>
<P align="justify"> <B>D</B><B>. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property,
  plants and equipment. </B> </P>
<P align="justify"> The Company&#146;s head office and principal facility, which
  is leased, is located at 828 Harbourside Drive, North Vancouver.<B> </B>It has
  no other property, plant, or equipment. </P>
<P align="justify"> <B>ITEM 5. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OPERATING
  AND FINANCIAL REVIEW AND PROSPECTS </B> </P>
<P align="justify"> <B>The following discussion and analysis should be read in
  conjunction with the financial statements and notes thereto included herein
  (see also "Selected Financial Data"). The consolidated financial statements
  have been prepared in accordance with Canadian GAAP. Refer Note 15 to the financial
  statements for a reconciliation of certain amounts to U.S. GAAP under Item 17.
  The primary differences between the Canadian and U.S. GAAP loss for the year
  are the inclusion of stock option compensation and a revised goodwill base under
  U.S. GAAP. </B> </P>
<P align="justify"> <B>Overview </B> </P>
<P align="justify"> The company &#145;s sole focus is on finding and completing
  a suitable acquisition, or suitable acquisitions. This activity is largely carried
  out by the directors and large shareholders at their expense. Accordingly its
  revenue is insignificant and certainly not material. Results can fluctuate on
  the basis of postal rate increases, or reductions in courier or long distance
  phone rates. </P>
<P align="justify"> <B>Results of Operations</B> </P>
<P align="justify"> The company has shown modest losses for the past several years.
  These losses result largely from having no revenue, rather than having unusual
  expenses. The expenses of the company are almost completely related to satisfying
  regulatory requirements, including the annual meeting, communication with shareholders;
  and seeking and evaluating acquisition prospects for suitability and ability
  to attract financing. </P>
<P align="justify"> <B>Fluctuations in Results </B> </P>
<P align="justify"> The Company&#146;s annual operating results fluctuate, but
  very little. </P>
<P align="justify"> 8 </P>

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<P align="justify"> <B>Liquidity and Capital Resources </B> </P>
<P align="justify"> Since the Company is organized in Canada, the Company&#146;s
  December 31, 2003 consolidated financial statements have been prepared in accordance
  with Canadian generally accepted accounting principles. </P>
<P align="justify"> As at December 31, 2003, the Company had accumulated losses
  totaling $13,281,912. The Company had a working capital deficit of $9,039 as
  at December 31, 2003. The continuation of the Company is dependent upon the
  continued financial support of shareholders as well as obtaining long-term financing
  when the company concludes an appropriate merger or acquisition agreement. </P>
<P align="justify"> As noted, these conditions raise substantial doubt about the
  Company&#146;s ability to continue as a going concern. The financial statements
  do not include any adjustment that might arise from uncertainty. However, had
  the audit been conducted in accordance with U.S. generally accepted auditing
  standards the auditors would have reflected these concerns in their report and
  would have included an explanatory paragraph in their report raising concern
  about the Company's ability to continue as a going concern. </P>
<P align="justify"> As at December 31, 2003 the Company had cash and term deposits
  of $1,959 and a working capital deficit of $9,039 </P>
<P align="justify"> <B>Impact of Inflation </B> </P>
<P align="justify"> The Company believes that inflation has not had a material
  effect on its past business. </P>
<P align="justify"> <B>Quantitative and Qualitative Disclosures about Market Risk
  </B> </P>
<P align="justify"> Not applicable to the Company. </P>
<P align="justify"> <B>ITEM 6. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES </B> </P>
<P align="justify"> It should be noted that the management discussed below is
  primarily involved with the Company&#146;s current activities. As the Company
  concludes an acquisition or merger, additional personnel with differing areas
  of expertise will be utilized. Directors are elected annually by a majority
  vote of the shareholders and hold office until the next general meeting of the
  shareholders. Officers are appointed by, and serve at the discretion of, the
  board of directors. The names, place of residence, positions within the Company
  and the principal occupations of the directors and senior officers of the Company
  are set out below. </P>
<P align="justify"> 9 </P>

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<P> <B>A</B><B>. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Directors
  and senior management. </B> </P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR align="center">
    <TD width="30%" valign="top"><B>Name, Municipality of</B></TD>
    <TD width="10%" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
  </TR>
  <TR align="center">
    <TD width="30%" valign="top"><B>Residence and Position</B></TD>
    <TD width="10%" valign="top">&nbsp;</TD>
    <TD valign="top"><B>Principal Occupation and Position</B></TD>
  </TR>
  <TR align="center">
    <TD width="30%" valign="top"><B><u>with </u></B><u><B>the Corporation</B></u></TD>
    <TD width="10%" valign="top"><B><u>Age</u></B></TD>
    <TD valign="top"><B><u>During the Past Five Years</u></B></TD>
  </TR>
  <TR>
    <TD width="30%" align="left" valign="top">Douglas E. Ford (1)<br> West Vancouver,
      B.C.<br> Director</TD>
    <TD width="10%" align="center" valign="top">40</TD>
    <TD align="left" valign="top"><div align="justify">Director since September
        10, 1992; General Manager of Dockside Capital, a private merchant banking
        and venture capital firm, from 1986 to present; also Vice President of
        Operations, Bugaboos Eyewear Corp., October 1998 to October 2000.</div>
      </TD>
  </TR>
  <TR>
    <TD width="30%" align="left" valign="top">&nbsp;</TD>
    <TD width="10%" align="center" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="30%" align="left" valign="top">Martin Schultz<br> Vancouver, B.C.<br>
      Secretary and Director<br> </TD>
    <TD width="10%" align="center" valign="top">60</TD>
    <TD align="left" valign="top"><div align="justify">Director and Secretary
        since March 20, 1990; Self employed corporate development advisor for
        over 10 years.</div></TD>
  </TR>
  <TR>
    <TD width="30%" align="left" valign="top">&nbsp;</TD>
    <TD width="10%" align="center" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="30%" align="left" valign="top">John Stanton<br>
      Queensburg, New York<br> Director<br> </TD>
    <TD width="10%" align="center" valign="top">58</TD>
    <TD align="left" valign="top"><div align="justify">Director since November
        15, 1990; Self employed pharmacist</div>

    </TD>
  </TR>
  <TR>
    <TD width="30%" align="left" valign="top">&nbsp;</TD>
    <TD width="10%" align="center" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="30%" align="left" valign="top">Edward Dolejsi<br> Delta, B.C.<br>
      Director and President</TD>
    <TD width="10%" align="center" valign="top">59</TD>
    <TD align="left" valign="top"><div align="justify">Director since March 20,
        1990; Vice-President and General Manager of BRI from July, 1994 until
        April, 1999; self-employed software consultant since May, 1999.</div></TD>
  </TR>
  <TR>
    <TD width="30%" align="left" valign="top">&nbsp;</TD>
    <TD width="10%" align="center" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="30%" align="left" valign="top">Edward D. Ford (1)<br> Whistler,
      B.C.Director</TD>
    <TD width="10%" align="center" valign="top">66</TD>
    <TD align="left" valign="top"><div align="justify">Director since March 20,
        1990; also has devoted a portion of his time to investment activities
        and as President of Dockside Capital, a private merchant banking and venture
        capital firm, for more than the last five years; chartered accountant
        for more than 20 years.</div></TD>
  </TR>
</TABLE>
<p align="justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;Edward Ford is the father of Douglas
  Ford</p>
<p align="justify">.<B>B</B><B>. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B>Compensation.</B></p>
<p align="justify"> Management compensation is determined by the board of directors
  based on competitive prices for services provided. During the year ended December
  31, 2003, directors and officers, including private companies controlled by
  directors and officers, as a group, were paid a total of $36,000 in management
  fees, wages and benefits. See &#147;Item 7. Major Shareholders and Related Party
  Transactions&#148; for more detail on fees paid to members of management or
  to entities owned by them.</p>
<p align="justify"> For the year ended December 31, 2003, the Company paid no
  compensation to Directors for acting as Directors. The Company does not have
  any pension or retirement plans, nor does the Company compensate its directors
  and officers by way of any material bonus or profit sharing plans. Directors,
  officers, employees and other key personnel of the Company may be compensated
  by way of stock options.</p>
<p align="justify"><B>C. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B>Board
  practices.</B></p>
<p align="justify">10</p>
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<P align="justify"> Pursuant to the provisions of the <I>Company Act</I> (BC),
  the Company&#146;s directors are elected annually at the regularly schedules
  annual general meeting of shareholders. Each elected director is elected for
  a one-year term unless he resigns prior to the expiry of his term. </P>
<P align="justify"> The Company has no arrangements in place for provision of
  benefits to its directors or upon their termination. </P>
<P align="justify"> The Board has one committee, the Audit Committee, made-up
  of Messrs. Ford, Stanton and Schultz. The Audit Committee meets with the auditors
  annually prior to completion of the audited financial statements and regularly
  with management during the fiscal year. </P>
<P align="justify"> <B>D. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B>Employees.
  </B> </P>
<P align="justify"> Effective at December 31, 2003 the Company had no salaried
  employees. </P>
<P align="justify"> <B>E. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B>Share
  ownership. </B> </P>
<P align="justify"> A total of ten percent (10%) of the common shares of the Company,
  outstanding from time to time, are reserved for the issuance of stock options
  pursuant to the Company&#146;s Incentive Stock Option Plan. </P>
<P align="justify"> <B>ITEM 7. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MAJOR
  SHAREHOLDERS AND RELATED PARTY TRANSACTIONS. </B> </P>
<P align="justify"> <B>A. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B>Major
  shareholders. </B> </P>
<P align="justify"> The following table sets forth certain information regarding
  beneficial ownership of the Company&#146;s shares at December 31, 2003 by (i)
  each person who is known to own beneficially more than 5% of the Company&#146;s
  outstanding Common Stock, (ii) each of the Company&#146;s directors and executive
  officers and (iii) all current directors and executive officers as a group.
  The table does not reflect common shares held of record by depositories, but
  does include currently exercisable options and warrants which are included in
  the calculation of percentage of class ownership for each individual holder.
  As of December 31, 2003 there were 8,323,119 common shares issued and outstanding.
  Each of the listed persons may be reached at the Company&#146;s head offices.
</P>
<P align="justify"> 11&nbsp; </P>

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<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD width="5%" align="left">&nbsp;&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD align="center" width="12%"><B>Amount and</B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD align="center" width="4%">&nbsp;</TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD align="center" width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD align="center" width="12%"><B>Nature of</B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD align="center" width="4%">&nbsp;</TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD align="center" width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD align="center" width="12%"><B>Beneficial</B></TD>
    <TD width="2%">&nbsp;</TD>
    <TD align="center" width="4%">&nbsp;</TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD align="center" width="12%"><B>Percent</B></TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD align="center"><B><u>Name and Address of Beneficial Owner</u></B></TD>
    <TD align="center" width="12%"><B><u>Ownership</u></B></TD>
    <TD width="2%">&nbsp;</TD>
    <TD align="center" width="4%">&nbsp;</TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD align="center" width="12%"><B><u>of Class</u></B></TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD align="left" bgcolor="#E6EFFF"><B><I>Principal Holders</I></B></TD>
    <TD width="12%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="4%" align="center" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD align="left">Not applicable</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="4%" align="center">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD align="left" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="4%" align="center" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD align="left"><B><I>Officers and Directors</I></B></TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="4%" align="center">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD align="left" bgcolor="#E6EFFF">Edward Ford</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">917,000</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="4%" align="center" bgcolor="#E6EFFF">(1)</TD>
    <TD width="2%" bgcolor="#E6EFFF"><p>&nbsp;</p></TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">9.5</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD align="left">John Stanton</TD>
    <TD align="right" width="12%">55,000</TD>
    <TD width="2%">&nbsp;</TD>
    <TD align="center" width="4%">*</TD>
    <TD width="2%">&nbsp;</TD>
    <TD align="right" width="12%">0.6</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD align="left" bgcolor="#E6EFFF">Douglas Ford</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">913,000</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="4%" align="center" bgcolor="#E6EFFF">(2)</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">9.4</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD align="left">Martin Schultz</TD>
    <TD align="right" width="12%">484,147</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="4%" align="center">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD align="right" width="12%">5.0</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD align="left" bgcolor="#E6EFFF">Edward Dolejsi</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">6,200</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="4%" align="center" bgcolor="#E6EFFF">*</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">0.06</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="4%" align="center">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD align="left" bgcolor="#E6EFFF"><B>All Officers and Directors as a Group (5 persons)</B></TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">2,375,347</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="4%" align="center" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">24.6</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
  </TR>
</TABLE>
_________________________<br>
<br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
<TR>
    <TD valign="top" colspan="2">&nbsp;*&nbsp;Less than one percent.</TD>
</TR>
<TR>
    <TD valign="top" width="5%">(1)</TD>
    <TD valign="top">Includes 430,000 shares held through Singer Associates Holdings
      Ltd.</TD>
</TR>
<TR>
    <TD valign="top" width="5%">(2)</TD>
    <TD valign="top">Includes 430,000 shares held through Wink Holdings Ltd.</TD>
</TR>
</TABLE>
<P align="justify"> There are no arrangements, known to the Company, the operation
  of which may at a subsequent date result in a change in control of the Company.
</P>
<P align="justify"> <B>B. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B>Related
  party transactions. </B> </P>
<P align="justify"> During the fiscal year ended December 31, 2003, directors,
  officers and companies controlled by them have been engaged in the following
  transactions with the Company: </P>
<P align="justify"> During the year ended December 31, 2003, a company in which
  a director has an interest charged the Company $36,000 (2002: $50,500, 2001:
  $18,000, 2000: $18,000) for rent and management fees. The unpaid portion of
  these amounts, plus additional advances and other amounts due to directors,
  aggregating $10,885 (2002: $77,562 2001: $21,704, 2000: $76,945, 1999: $48,036)
  is included in accounts payable and accrued liabilities at December 31, 2003.
</P>
<P align="justify"> A Company in which a director has an interest was charged
  $3,000 (2002: $12,000, 2001 $Nil 2000: $82,500, 1999: $120,000) for consulting
  fees during the year ended December 31, 2003. The unpaid portion of these amounts,
  aggregating $Nil (2002: $98,940, 2001: $86,100, 2000: $86,100, 1999: $128,400)
  is included in accounts receivable at December 31, 2003. </P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD width="5%">&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="12%" align="center" style="border-bottom-width:1px;border-bottom-style:solid">2003</TD>
    <TD width="3%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="center" style="border-bottom-width:1px;border-bottom-style:solid">2002</TD>
    <TD width="3%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="center" style="border-bottom-width:1px;border-bottom-style:solid">2000</TD>
    <TD width="3%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD bgcolor="#E6EFFF">Management fees and rent</TD>
    <TD width="3%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="center" bgcolor="#E6EFFF">$36,000</TD>
    <TD width="3%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="center" bgcolor="#E6EFFF">$50,500</TD>
    <TD width="3%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="center" bgcolor="#E6EFFF">$18,000</TD>
    <TD width="3%">&nbsp;</TD>
  </TR>
</TABLE>
<P>
12&nbsp;
</P>

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<P align="justify"> The above transactions were made on terms as favorable or
  more favorable to the Company than those that could be obtained from unaffiliated
  third parties. </P>
<P align="justify"> <B>ITEM 8. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FINANCIAL
  INFORMATION </B> </P>
<P align="justify"> The Company is not aware of any significant change since December
  31, 2003 that is not otherwise reported in this filing. </P>
<P align="justify"> <B>ITEM 9. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THE
  OFFER AND LISTING </B> </P>
<P align="justify"> The shares of the company do not currently trade, pending
  a successful merger or acquisition. Subsequent to a successful transaction it
  is planned to have the shares commence trading on the NASDAQ bulletin board.
</P>
<P align="justify"> <B>ITEM 10. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ADDITIONAL
  INFORMATION </B> </P>
<P align="justify"> <B>Memorandum and articles of association </B> </P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%">1.</TD>
    <TD valign="top"><div align="justify">The company was incorporated as Rainbow
        Resources Ltd. September 20 1983 under certificate of incorporation no.
        268952 in the Province of British Columbia Canada. The name was changed
        to Widescope Resources Ltd. May 1 1984, to Gemini Technology Inc. September
        13 1985, and to International Gemini Technology Inc. September 23 1993.
        No objects and purposes are described.</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%">2.</TD>
    <TD valign="top"><div align="justify">If a director has a material interest
        in a matter subject to a vote, he must declare it and abstain from voting,
        or have his vote not counted, except for certain specific exclusions which
        include setting director compensation. There are no restrictions on directors
        issuing debt however shareholder approval may be required in connection
        with convertible debt or other debt driven requirements to issue shares.
        There is no retirement age or share ownership requirement for directors.</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%">3.</TD>
    <TD valign="top"><div align="justify">Dividends are declared by directors
        and subject to any special rights, paid to all holders of shares in a
        class according to the number of shares held. Voting rights are one vote
        per share. Directors stand for election every year at the annual meeting.
        Shareholders have no rights to share directly in the company&#146;s profits.
        Subject to prior claims of creditors and preferred shareholders, common
        shareholders participate in any surplus in the event of liquidation according
        to the number of shares held. The company may redeem shares by directors&#146;
        resolution in compliance with applicable law unless the company is insolvent
        or may become insolvent by doing so. It must make its offer pro rata to
        every member who holds a class, subject to applicable stock exchange rules
        or company act provisions. The directors have wide discretion. Shareholders
        have no liability for further capital calls.</div></TD>
  </TR>
</TABLE>
<P>
13&nbsp;
</P>

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<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify">No discriminatory provisions, against
        an existing or prospective shareholder of a substantial number of shares,
        are imposed by the articles.</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%">4.</TD>
    <TD valign="top"><div align="justify">Rights of holders of any class of shares
        can only be changed with their consent, and in accordance with the company
        act. Consent must be in writing by the holders or by a three fourths majority
        of a vote of the holders, and by the consent of the British Columbia Securities
        Commission.</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%">5.</TD>
    <TD valign="top"><div align="justify">A notice convening an annual general
        or special meeting must specify the place, date, hour, and in the case
        of a special meeting, the general nature of the special business, and
        must be given in accordance with the company act. There are no special
        conditions outlining rights of admission.</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%">6.</TD>
    <TD valign="top"><div align="justify">There are no limitations on rights to
        own securities.</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%">7.</TD>
    <TD valign="top"><div align="justify">There are no provisions to delay, defer,
        or prevent a change in control.</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%">8.</TD>
    <TD valign="top"><div align="justify">Nothing in the articles requires ownership
        disclosure.</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%">9.</TD>
    <TD valign="top"><div align="justify">Not applicable.</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%">10.</TD>
    <TD valign="top"><div align="justify">Not applicable.</div></TD>
  </TR>
</TABLE>
<P align="justify"> <B>Material contracts </B> </P>
<P align="justify"> None. </P>
<P align="justify"> <B>Exchange Controls </B> </P>
<P align="justify"> <B>This summary is of a general nature only and is not intended
  to be, and should not be interpreted as, legal advice to any prospective purchaser.
  Accordingly, prospective purchasers of the Company&#146;s shares should consult
  with their own advisors with respect to their individual circumstances. </B>
</P>
<P align="justify"> There are no laws or governmental decrees or regulations in
  Canada that restrict the export or import of capital, or which affect the remittance
  of dividends, interest or other payments to holders of the Company&#146;s securities
  who are not residents of Canada, other than withholding tax requirements. Reference
  is made to &#147;Item 7. Taxation&#148;. </P>
<P align="justify"> There are no limitations imposed by the laws of Canada, the
  laws of Alberta or by the charter or other governing documents of the Company
  on the right of a non-resident to hold or vote common shares of the Company,
  other than as provided in the Investment Canada Act (the &#147;Investment Act&#148;)
  and the potential requirement for a Competition Act Review. </P>
<P align="justify"> The following summarizes the principal features of the Investment
  Act and the Competition Act Review for a non-resident who proposes to acquire
  common shares. This summary is of a general nature only and is not intended
  to be, nor is it, a substitute for independent advice from </P>
<P align="justify"> 14&nbsp; </P>

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<A name="page_15"></A>

<P align="justify"> an investor&#146;s own advisor. This summary does not anticipate
  statutory or regulatory amendments. </P>
<P align="justify"> <B>The Canadian Investment Act </B> </P>
<P align="justify"> The Canadian Investment Act generally prohibits implementation
  of a reviewable investment by an individual, government or agency thereof, corporation,
  partnership, trust or joint venture that is not a &#147;Canadian&#148; as defined
  in the Investment Act (a &#147;non-Canadian&#148;), unless, after review, the
  minister responsible for the Investment Act (the &#147;Minister&#148;) is satisfied
  that the investment is likely to be of a net benefit to Canada. Under the Investment
  Act, a United States citizen qualifies as a &#147;World Trade Organization Investor.&#148;
  Subject to the restrictions noted below, an investment in a Canadian business
  by a World Trade Organization Investor would be reviewable under the Investment
  Act only if it is an investment to acquire control of such Canadian business
  and the value of the assets of the Canadian business as shown on its financial
  statements is not less than a specified amount, which for 1999 was $184 million.
  An investment in the shares of a Canadian business by a non-Canadian other than
  a &#147;World Trade Organization Investor&#148; when the Company is not controlled
  by a World Trade Organization Investor, would be reviewable under the Investment
  Act if it is an investment to acquire control of the Canadian business and the
  value of the assets of the Canadian business as shown on its financial statements
  is $5 million or more, or if an order for review is made by the federal cabinet
  on the grounds that the investment relates to Canada&#146;s cultural heritage
  or national identity. </P>
<P align="justify"> The acquisition by a World Trade Organization Investor of
  control of a Canadian business in any of the following sectors is also subject
  to review if the value of the assets of the Canadian business exceeds $5 million
  (as shown on its financial statements): uranium, financial services (except
  insurance), transportation services and cultural businesses, which include broadcast
  media (publication, distribution or sale of books, magazines, periodicals, newspapers,
  music, film and video products and the exhibition of film and video products),
  television and radio services. As the Company&#146;s business does not fall
  under any of the aforementioned categories, the acquisition of control of the
  Company, in excess of the $5 million threshold, by a World Trade Organization
  Investor would not be subject to such review. </P>
<P align="justify"> A non-Canadian would acquire control of the Company for purposes
  of the Investment Act if the non-Canadian acquired a majority of the common
  shares. </P>
<P align="justify"> The acquisition of less than a majority but one-third or more
  of the common shares would be presumed to be an acquisition of control of the
  Company unless it could be established that, on acquisition, the Company was
  not controlled in fact by the acquirer through the ownership of common shares.
  Notwithstanding the review provisions, any transaction involving the acquisition
  of control of a Canadian business or the establishment of a new business in
  Canada by a non-Canadian is a notifiable transaction and must be reported to
  Industry Canada by the non-Canadian making the investment either before or within
  thirty days after the investment. </P>
<P align="justify"> Certain transactions relating to common shares are exempt
  from the Investment Act, including: </P>
<div align="justify">
  <UL>
    <LI>an acquisition of common shares by a person in the ordinary course of
      that person&#146;s business as a trader or dealer in securities;<BR>
    </LI>
  </UL>
</div>
<P align="justify"> 15&nbsp; </P>

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<UL>
  <LI>
    <div align="justify">an acquisition of control of the Company in connection
      with the realization of security granted for a loan or other financial assistance
      and not for a purpose related to the provisions of the Investment Act; and<BR>
    </div>
  </LI>
  <LI>
    <div align="justify">an acquisition of control of the Company by reason of
      an amalgamation, merger, consolidation or corporate reorganization, following
      which the ultimate direct or indirect control in fact of the Company, through
      the ownership of common shares, remained unchanged.<BR>
    </div>
  </LI>
</UL>
<P align="justify"> <B>Canadian Competition Act Review </B> </P>
<P align="justify"> Investments giving rise to the acquisition or establishment,
  directly or indirectly, by one or more persons of control over, or a significant
  interest in the whole or part of a business of a competitor, supplier, customer
  or other person are subject to substantive review by Canada&#146;s Competition
  Law Authority, the Director of Investigation and Research (the &#147;Director&#148;).
  If or when the Director concludes that a merger, whether by purchase or lease
  of shares or assets, by amalgamation or by combination, or otherwise, prevents
  or lessens, or is likely to prevent or lessen competition substantially, he
  may apply as may be necessary to eliminate the substantial lessening or prevention
  of competition. Such substantive merger review power applies to all mergers,
  whether or not they meet limits for pre-notification under the Competition Act.
</P>
<P align="justify"> In addition to substantive merger review, the Competition
  Act provides for a pre-notification regime respecting mergers of a certain size.
  The regime applies in respect of share acquisitions, asset acquisitions, amalgamations
  and combinations. For ease of reference, this filing refers specifically to
  share acquisition, although the pre-notification regime applies, with the appropriate
  modification, to other types of acquisition of control as well. </P>
<P align="justify"> In order for a share acquisition transaction to be pre-notifiable,
  the parties to the transaction (being the person or persons who proposed to
  acquire shares, and the corporation the shares of which are to be acquired),
  together with their affiliates (being all firms with a 50% or more voting shares
  linkage up and down the chain) must have: </P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD valign="top" width="5%">(i)</TD>
    <TD valign="top"><div align="justify">aggregate gross assets in Canada that
        exceed $400,000,000 in value, as shown on their audited financial statements
        for the most recently completed fiscal year (which must be within the
        last fifteen (15) months); or</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">(ii)</TD>
    <TD valign="top"><div align="justify">aggregate gross revenue from sales in,
        from or into Canada that exceed $400,000,000 for the most recently completed
        fiscal year shown on the said financial statements; and</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">(iii)</TD>
    <TD valign="top"><div align="justify">the party being acquired or corporations
        controlled by that party must have gross assets in Canada, or gross revenues
        from sales in or from Canada, exceeding $35,000,000 as shown on the said
        financial statements. Acquisition of shares carrying up to 20% of the
        votes of a publicly-traded corporation, or 35% of the votes in a private
        corporation, will not be subject to pre-notification, regardless of the
        above thresholds. However, exceeding the 20% or the 35% threshold, and
        again exceeding the 50% threshold, gives rise to an obligation of notification
        if the size threshold is met.</div></TD>
  </TR>
</TABLE>
<P>
16&nbsp;
</P>

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<A name="page_17"></A>

<P align="justify"> If a transaction is pre-notifiable, a filing must be made
  with the Director containing the prescribed information with respect to the
  parties, and a waiting period (either seven or twenty-one days, depending on
  whether a long or short form filing is chosen) must expire prior to closing.
</P>
<P align="justify"> As an alternative to pre-notification, the Director may grant
  an Advance Ruling Certificate, which exempts the transaction from pre-notification.
  Advance Ruling Certificates are granted where the Director concludes, based
  on the information provided to him, that he would not have sufficient grounds
  on which to apply to the Competition Tribunal to challenge the Merger. </P>
<P align="justify"> <B>Taxation </B> </P>
<P align="justify"> <B>This summary is of a general nature only and is not intended
  to be, and should not be interpreted as, legal or tax advice to any prospective
  purchaser or holder of the Company&#146;s shares and no representation with
  respect to the Canadian federal income tax consequences to any such prospective
  purchaser is made. Accordingly, prospective purchasers of the Company&#146;s
  shares should consult with their own tax advisors with respect to their individual
  circumstances. </B> </P>
<P align="justify"> The following summary describes the principal Canadian federal
  income tax considerations generally applicable to a holder of the Company&#146;s
  shares who, for purposes of the Income Tax Act (Canada) (the &#147;Canadian
  Tax Act&#148;) and the Canada-United States Income Tax Convention, 1980 (the
  &#147;Convention&#148;) and at all relevant times is resident in the United
  States and not resident in Canada, deals at arm&#146;s length with the Company,
  holds the Company&#146;s shares as capital property, and does not use or hold
  and is not deemed to use or hold the Company&#146;s shares in or in the course
  of carrying on business in Canada (a &#147;United States Holder&#148;). </P>
<P align="justify"> This following summary is based upon the current provisions
  of the Canadian Income Tax Act, the regulations thereunder, all specific proposals
  to amend the Canadian Tax Act and the regulations announced by the Minister
  of Finance (Canada) prior to the date hereof and the Company&#146;s understanding
  of the published administrative practices of the Canada Customs and Revenue
  Agency (formerly Revenue Canada, Customs, Excise and Taxation). This summary
  does not take into account or anticipate any other changes in the governing
  law, whether by judicial, governmental or legislative decision or action, nor
  does it take into account the tax legislation or considerations of any province,
  territory or non-Canadian jurisdiction (including the United States), which
  legislation or considerations may differ significantly from those described
  herein. </P>
<P align="justify"> <B>Dividends</B><B> </B><B>On The Company&#146;s Shares</B>
</P>
<P align="justify"> Generally, dividends paid by Canadian corporations to non-resident
  shareholders are subject to a withholding tax of 25% of the gross amount of
  such dividends. However, pursuant to the Convention, the withholding tax rate
  on the gross amount of dividends paid to residents of the United States is reduced
  to 15% or, in the case of a United States corporation which owns at least 10%
  of the voting stock of the Canadian corporation paying the dividends, to 5%
  of the gross amount of such dividends. </P>
<P align="justify"> 17&nbsp; </P>

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<P align="justify"> Pursuant to the Convention, certain tax-exempt entities resident
  in the United States may be exempt from Canadian withholding taxes, including
  any withholding taxes levied in respect of dividends received on the Company&#146;s
  shares. </P>
<P align="justify"> <B>Disposition Of The Company&#146;s Shares </B> </P>
<P align="justify"> In general, a United States shareholder will not be subject
  to Canadian income tax on capital gains arising on the disposition of the Company&#146;s
  shares, unless such shares are &#147;taxable Canadian property&#148; within
  the meaning of the Canadian Income Tax Act and no relief is afforded under any
  applicable tax treaty. The shares of the Company would be taxable Canadian property
  of a non-resident if at any time during the five-year period immediately preceding
  a disposition by the non-resident of such shares, not less than 25% of the issued
  shares of any class or series of all classes of shares of the Company belonged
  to the non-resident, to persons with whom the non-resident did not deal at arm&#146;s
  length, or to the non-resident and persons with whom the non-resident did not
  deal at arm&#146;s length for purposes of the Canadian Income Tax Act. For this
  purpose, issued shares include options to acquire such shares (including conversion
  rights) held by such persons. Under the Convention, a capital gain realized
  by a resident of the United States will not be subject to Canadian tax unless
  the value of the shares of the Company is derived principally from real estate
  (as defined in the Convention) situated in Canada. </P>
<P align="justify"> <B>Documents on display </B> </P>
<P align="justify"> All documents referenced in this Form 20-F may be viewed at
  the offices of the Company during business hours #208 - 828 Harbourside Drive,
  North Vancouver BC V7P 3R9 Canada, Telephone 604-904-8481. </P>
<P align="justify"> <B>ITEM 11. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;QUANTITATIVE
  AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK </B> </P>
<P align="justify"> Not applicable </P>
<P align="justify"> <B>ITEM 12. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DESCRIPTION
  OF SECURITIES OTHER THAN EQUITY SECURITIES </B> </P>
<P align="justify"> Not applicable </P>
<P align="justify"> <B>ITEM 13. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DEFAULTS,
  DIVIDEND ARREARAGES AND DELINQUENCIES </B> </P>
<P align="justify"> Not applicable </P>
<P align="justify"> 18&nbsp; </P>

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<!--$$/page=-->
<A name="page_19"></A>
<P align="justify"> <B>ITEM 14. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MATERIAL
  MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS </B> </P>
<P align="justify"> Not applicable </P>
<P align="justify"> <B>ITEM 15. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CONTROLS
  AND PROCEDURES </B> </P>
<P align="justify"> Specific controls and procedures were not implemented by the
  end of fiscal year 2003. The company is in a development phase, where it is
  evaluating opportunities. There is little money involved at this time so the
  investment in establishing specific controls and procedures has a lower priority
  than seeking and evaluating opportunities. Once an appropriate project has been
  selected and is underway, management will establish controls and procedures
  in accordance with usual industry practice. </P>
<P align="justify"> <B>ITEM 16</B> </P>
<P align="justify"> <B>A. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Audit
  Committee Financial Expert </B> </P>
<P align="justify"> The company has as its audit committee financial expert Mr.
  Edward D. Ford who is a Canadian Chartered Accountant. He has held these professional
  qualifications since 1961. During his career Mr. Ford has been an associate,
  manager and partner of several Canadian professional accounting firms that specialized
  in audit/assurance, taxation, insolvency and independent business consulting.
  Additionally he has served as a Chief Financial Officer of several public companies.
</P>
<P align="justify"> <B>B. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Code
  Of Ethics </B> </P>
<P align="justify"> The company has not yet adopted a code of ethics. It has no
  material assets, as it is the development phase. Once it has selected an appropriate
  project, it will adopt a code of ethics that conforms to usual industry practice.
</P>
<P align="justify"> <B>C. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal
  Accounting Fees And Services </B> </P>
<P align="justify"> Audit fees of $1,712 were billed in 2003, and $1,605 in 2002.
  The principal accountant billed for no other fees in either of those two years.
</P>
<P align="justify"> <B>ITEM 17. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FINANCIAL
  STATEMENTS </B> </P>
<P align="justify"> The financial statements and notes thereto as required by
  Item 17 are attached hereto and found immediately after the text of this Registration
  Statement. The auditors&#146; report of Charlton &amp; Company, independent
  Chartered Accountants, for the audited financial statements and notes thereto
  is included immediately preceding the audited financial statements. </P>
<P align="justify"> 19&nbsp; </P>
<HR noshade align="JUSTIFY" width="100%" size=5 color="black" style="page-break-after:always;">
<!--$$/page=-->
<A name="page_20"></A> <br>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr bgcolor="#EEEEEE">
    <td width="5%" valign="top">&nbsp;</td>
    <td><a href="#page_F-1">Auditors&#146; Report. </a></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr bgcolor="#EEEEEE">
    <td valign="top">&nbsp;</td>
    <td><a href="#page_F-1">Comments by Auditors for U.S. Readers on Canada &#150;
      U.S. Reporting Differences. </a></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr bgcolor="#EEEEEE">
    <td valign="top">&nbsp;</td>
    <td>Consolidated Financial Statements. </td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr bgcolor="#EEEEEE">
    <td valign="top">&nbsp;</td>
    <td><a href="#page_F-2">Consolidated Balance Sheets as at December 31, 2003
      and December 31, 2002. </a> </td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr bgcolor="#EEEEEE">
    <td valign="top">&nbsp;</td>
    <td><a href="#page_F-3">Consolidated Statements of Operations and Deficit
      for the years ended December 31, 2003, 2002 and 2001. </a></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr bgcolor="#EEEEEE">
    <td valign="top">&nbsp;</td>
    <td><a href="#page_F-4">Consolidated Statements of Cash Flows Deficit for
      the years ended December 31, 2003, 2002 and 2001. </a></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr bgcolor="#EEEEEE">
    <td valign="top">&nbsp;</td>
    <td>Summary of Significant Accounting Policies. </td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr bgcolor="#EEEEEE">
    <td valign="top">&nbsp;</td>
    <td><a href="#page_F-5">Notes to the Consolidated Financial Statements. </a></td>
  </tr>
</table>
<P align="justify"><B>ITEM 18. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FINANCIAL
  STATEMENTS </B> </P>
<P align="justify"> Not applicable. See &#147;Item 17. Financial Statements&#148;
  above. </P>
<P align="justify"> <B>ITEM 19. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EXHIBITS
  </B> </P>
<P align="justify"> Attached hereto are the following exhibits: </P>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr bgcolor="#EEEEEE">
    <td width="5%" valign="top"><a href="exhibit12-1.htm">12.1 </a></td>
    <td><a href="exhibit12-1.htm">Certification of President pursuant to s.302
      of the Sarbanes-Oxley Act of 2002 </a></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr bgcolor="#EEEEEE">
    <td valign="top"><a href="exhibit12-2.htm">12.2</a> </td>
    <td><a href="exhibit12-2.htm">Certification of Director pursuant to s.302
      of the Sarbanes-Oxley Act of 2002 </a></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr bgcolor="#EEEEEE">
    <td valign="top"><a href="exhibit13-1.htm">13.1 </a></td>
    <td><a href="exhibit13-1.htm">Certification of President pursuant to s.906
      of the Sarbanes-Oxley Act of 2002 </a></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr bgcolor="#EEEEEE">
    <td valign="top"><a href="exhibit13-2.htm">13.2</a></td>
    <td><a href="exhibit13-2.htm">Certification of Director pursuant to s.906
      of the Sarbanes-Oxley Act of 2002 </a></td>
  </tr>
</table>
<P align="center">
<B>SIGNATURES </B>
</P>
<P>
The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this annual report on its behalf.
</P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD width="50%">&nbsp;</TD>
    <TD colspan=2>INTERNATIONAL GEMINI TECHNOLOGY INC.</TD>
  </TR>
  <TR>
    <TD width="50%">&nbsp;</TD>
    <TD colspan=2>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="50%">Date: March 29, 2004</TD>
    <TD width="8%">By:</TD>
    <TD style="border-bottom-width:1px;border-bottom-style:solid">/s/ Martin Schultz</TD>
  </TR>
  <TR>
    <TD width="50%">&nbsp;</TD>
    <TD width="8%">Name:</TD>
    <TD>Martin Schultz</TD>
  </TR>
  <TR>
    <TD width="50%">&nbsp;</TD>
    <TD width="8%">Title:</TD>
    <TD>Secretary and Director, as</TD>
  </TR>
  <TR>
    <TD width="50%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD>duly authorized signatory</TD>
  </TR>
</TABLE>
<P>
20&nbsp;
</P>

<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">
<!--$$/page=-->
<A name="page_F-i"></A>
<P align="center"> <B>INTERNATIONAL GEMINI TECHNOLOGY INC. </B> </P>
<P align="center"> <B>AUDITORS&#146; REPORT </B> </P>
<P align="center"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>AND FINANCIAL STATEMENTS<br>
  - DECEMBER 31, 2003, 2002 AND 2001 <br>
  (Expressed in Canadian Dollars) </B> </P>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">
<!--$$/page=-->
<A name="page_F-ii"></A>
<P align="center"> <B><font size="3">International Gemini Technology Inc.</font></B>
</P>
<P align="center"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>December 31, 2003<br>
  </B> <B>(Expressed in Canadian Dollars) </B> </P>
<P align="center"> <B>Index</B> </P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD width="10%">&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" width="12%">Page</TD>
    <TD width="12%" align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2" bgcolor="#EEEEEE"><B><a href="#page_F-1">AUDITORS&#146; REPORT</a></B></TD>
    <TD width="12%" align="right" bgcolor="#EEEEEE"><a href="#page_F-1">1</a></TD>
    <TD width="12%" align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="2" bgcolor="#EEEEEE"><B>FINANCIAL STATEMENTS</B></TD>
    <TD width="12%" align="right" bgcolor="#EEEEEE">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="10%" bgcolor="#EEEEEE">&nbsp;</TD>
    <TD bgcolor="#EEEEEE"><a href="#page_F-2">Balance Sheets</a></TD>
    <TD width="12%" align="right" bgcolor="#EEEEEE"><a href="#page_F-2">2</a></TD>
    <TD width="12%" align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="10%" bgcolor="#EEEEEE">&nbsp;</TD>
    <TD bgcolor="#EEEEEE"><a href="#page_F-3">Statements of Operations and Deficit</a></TD>
    <TD width="12%" align="right" bgcolor="#EEEEEE"><a href="#page_F-3">3</a></TD>
    <TD width="12%" align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="10%" bgcolor="#EEEEEE">&nbsp;</TD>
    <TD bgcolor="#EEEEEE"><a href="#page_F-4">Statements of Cash Flows</a></TD>
    <TD width="12%" align="right" bgcolor="#EEEEEE"><a href="#page_F-4">4</a></TD>
    <TD width="12%" align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="10%" bgcolor="#EEEEEE">&nbsp;</TD>
    <TD bgcolor="#EEEEEE"><a href="#page_F-5">Notes to the Financial Statements</a></TD>
    <TD width="12%" align="right" bgcolor="#EEEEEE"><a href="#page_F-5">5- 8</a></TD>
    <TD width="12%" align="right">&nbsp;</TD>
  </TR>
</TABLE>
<p>&nbsp;</p><HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">
<!--$$/page=-->
<A name="page_F-1"></A>
<P align="center"> <B>AUDITORS&#146; REPORT</B> </P>
<P> To: &nbsp;&nbsp;&nbsp;&nbsp;The Directors of <br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; International
  Gemini Technology Inc. </P>
<P align="justify"> We have audited the balance sheets of International Gemini
  Technology Inc. as at December 31, 2003 and 2002 and the statements of operations
  and deficit and cash flows for the years ended December 31, 2003, 2002 and 2001.
  These financial statements are the responsibility of the Company's management.
  Our responsibility is to express an opinion on these financial statements based
  on our audits. </P>
<P align="justify"> We conducted our audits in accordance with Canadian generally
  accepted auditing standards. Those standards require that we plan and perform
  an audit to obtain reasonable assurance whether the financial statements are
  free of material misstatement. An audit includes examining, on a test basis,
  evidence supporting the amounts and disclosures in the financial statements.
  An audit also includes assessing the accounting principles used and significant
  estimates made by management, as well as evaluating the overall financial statement
  presentation. </P>
<P align="justify"> In our opinion, these financial statements present fairly,
  in all material respects, the financial position of the Company as at December
  31, 2003 and 2002 and the results of its operations and cash flows for the years
  ended December 31, 2003, 2002 and 2001 in accordance with accounting principles
  generally accepted in Canada applied on a consistent basis. </P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD>&nbsp;</TD>
    <TD align="right" width="56%"><B><I>&#147;Charlton &amp; Company&#148;</I></B></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD align="right" width="56%"><B><I>CHARTERED ACCOUNTANTS</I></B></TD>
  </TR>
  <TR>
    <TD>Vancouver, Canada</TD>
    <TD width="56%" align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD>February 10, 2004</TD>
    <TD width="56%" align="right">&nbsp;</TD>
  </TR>
</TABLE>
<P> Comments by Auditor for U.S. Readers on Canada - U.S. Reporting Difference
</P>
<P align="justify"> In the United States, reporting standards for auditors require
  the addition of an explanatory paragraph (following the opinion paragraph) when
  the financial statements are affected by conditions and events that cast substantial
  doubt on the company's ability to continue as a going concern, such as those
  referred to in the attached balance sheets as at December 31, 2003 and 2002
  and described in Note 1 to the financial statements. Our report to the directors
  dated February 10, 2004 is expressed in accordance with Canadian reporting standards
  which do not permit a reference to such events and conditions in the auditor's
  report when these are adequately disclosed in the financial statements. </P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD>&nbsp;</TD>
    <TD align="right" width="56%"><B><I>&#147;Charlton &amp; Company&#148;</I></B></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD align="right" width="56%"><B><I>CHARTERED ACCOUNTANTS</I></B></TD>
  </TR>
  <TR>
    <TD>Vancouver, Canada</TD>
    <TD width="56%" align="right">&nbsp;</TD>
  </TR>
  <TR>
    <TD>February 10, 2004</TD>
    <TD width="56%" align="right">&nbsp;</TD>
  </TR>
</TABLE>
<P align="right"> Page 1 </P>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">
<!--$$/page=-->
<A name="page_F-2"></A> <br>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td valign="top" bordercolor="#000000" style="border-bottom-width:2px;border-bottom-style:solid"><B><font size="3">International
      Gemini Technology Inc.</font></B> <B><br>
      Balance Sheets <br>
      As at December 31 <br>
      (Expressed in Canadian Dollars) </B></td>
  </tr>
</table>
<br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD align="left"> </TD>
    <TD align="center" width="1%">&nbsp;</TD>
    <TD align="center" width="12%"><B><u>2003</u></B></TD>
    <TD align="left" width="2%">&nbsp;</TD>
    <TD align="center" width="1%">&nbsp;</TD>
    <TD align="center" width="12%"><B><u>2002</u></B></TD>
    <TD align="left" width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="center"><B><u>ASSETS</u></B></TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left"><B>Current </B></TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash
    </TD>
    <TD width="1%" align="center">$</TD>
    <TD width="12%" align="right">1,959</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center">$</TD>
    <TD width="12%" align="right">596</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
      receivable (Note 5) </TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">1,087</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">110,566</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left"> </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">3,046</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">111,162</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left"><B>Investment </B>(Note 4) </TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">46,024</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">46,024</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left"> </TD>
    <TD width="1%" align="center" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" style="border-bottom-width:4px;border-bottom-style:double">49,070</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" style="border-bottom-width:4px;border-bottom-style:double">157,186</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left"><div align="center"><B><u>LIABILITIES</u></B></div></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left"><B>Current </B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
      payable and accrued liabilities (Note 5) </TD>
    <TD width="1%" align="center" style="border-bottom-width:1px;border-bottom-style:solid">$</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">12,355</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center" style="border-bottom-width:1px;border-bottom-style:solid">$</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">82,608</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left"><B>Contingency </B>(Note 1) </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left"><div align="center"><B><u>SHAREHOLDERS&#146; EQUITY</u></B></div></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left"><B>Share capital &#150; common </B>(Note 6) </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">12,660,559</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">12,660,559</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left"><B>Share capital &#150; preferred </B>(Note 6) </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">604,724</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">604,724</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left"><B>Contributed surplus </B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">53,344</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">53,344</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left"><B>Deficit, </B>per statement </TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">(13,281,912</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">(13,244,049</TD>
    <TD width="2%" align="left">)</TD>
  </TR>
  <TR>
    <TD align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left"> </TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">36,715</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">74,578</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left"> </TD>
    <TD width="1%" align="center" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" style="border-bottom-width:4px;border-bottom-style:double">49,070</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" style="border-bottom-width:4px;border-bottom-style:double">157,186</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
</TABLE>
<br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD align="left">Approved by the directors:</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD align="left" style="border-bottom-width:1px;border-bottom-style:solid"><B><I>&#147;Martin
      Schultz&#148;</I></B></TD>
    <TD align="center" width="10%">&nbsp;</TD>
    <TD width="45%" align="left" style="border-bottom-width:1px;border-bottom-style:solid"><B><I>&#147;Doug
      Ford&#148;</I></B></TD>
  </TR>
  <TR>
    <TD align="left">Director &#150; Martin Schultz</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%" align="left">Director &#150; Doug Ford</TD>
  </TR>
</TABLE>
<br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD><B><I>See accompanying notes.</I></B></TD>
    <TD width="21%" align="right">Page 2</TD>
  </TR>
</TABLE>
<br>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">
<!--$$/page=-->
<A name="page_F-3"></A> <br>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td valign="top" bordercolor="#000000" style="border-bottom-width:2px;border-bottom-style:solid"><B><font size="3">International
      Gemini Technology Inc.</font></B> <B><br>
      Statements of Operations and Deficit <br>
      For the Years Ending December 31,<br>
      (Expressed in Canadian Dollars) </B></td>
  </tr>
</table>
<br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD>&nbsp;</TD>
    <TD align="center" width="1%">&nbsp;</TD>
    <TD align="center" width="12%"><B><u>2003</u></B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD align="center" width="1%">&nbsp;</TD>
    <TD align="center" width="12%"><B><u>2002</u></B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD align="center" width="1%">&nbsp;</TD>
    <TD align="center" width="12%"><B><u>2001</u></B></TD>
    <TD align="left" width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD><B>Revenue</B></TD>
    <TD width="1%" align="center">$</TD>
    <TD width="12%" align="right">3,000</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center">$</TD>
    <TD width="12%" align="right">22,000</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center">$</TD>
    <TD width="12%" align="right">-</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD><B>Expenses</B></TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative</TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">40,863</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">57,443</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">23,805</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD><B>Loss before other item</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">(37,863</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">(35,443</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">(23,805</TD>
    <TD width="2%" align="left">)</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD><B>Other item</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income</TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">-</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">179</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">600</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD><B>Loss for the year</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">(37,863</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">(35,264</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">(23,205</TD>
    <TD width="2%" align="left">)</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD><B>Deficit, beginning of year</B></TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">(13,244,049</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">(13,208,785</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">(13,185,580</TD>
    <TD width="2%" align="left">)</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD><B>Deficit, end of year</B></TD>
    <TD width="1%" align="center" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" style="border-bottom-width:4px;border-bottom-style:double">(13,281,912</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="1%" align="center" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" style="border-bottom-width:4px;border-bottom-style:double">(13,244,049</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="1%" align="center" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" style="border-bottom-width:4px;border-bottom-style:double">(13,208,785</TD>
    <TD width="2%" align="left">)</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD><B>Loss per share</B></TD>
    <TD width="1%" align="center" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" style="border-bottom-width:4px;border-bottom-style:double">(0.004</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="1%" align="center" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" style="border-bottom-width:4px;border-bottom-style:double">(0.004</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="1%" align="center" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" style="border-bottom-width:4px;border-bottom-style:double">(0.003</TD>
    <TD width="2%" align="left">)</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD><B>Fully diluted loss per share</B></TD>
    <TD width="1%" align="center" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" style="border-bottom-width:4px;border-bottom-style:double">(0.003</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="1%" align="center" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" style="border-bottom-width:4px;border-bottom-style:double">(0.003</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="1%" align="center" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" style="border-bottom-width:4px;border-bottom-style:double">(0.002</TD>
    <TD width="2%" align="left">)</TD>
  </TR>
</TABLE>
<br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD><B><I>See accompanying notes.</I></B></TD>
    <TD width="21%" align="right">Page 3</TD>
  </TR>
</TABLE>
<br>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">
<!--$$/page=-->
<A name="page_F-4"></A> <br>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td valign="top" bordercolor="#000000" style="border-bottom-width:2px;border-bottom-style:solid"><B><font size="3">International
      Gemini Technology Inc.</font></B> <B><br>
      Statements of Cash Flows <br>
      For the Years Ending December 31,<br>
      (Expressed in Canadian Dollars) </B></td>
  </tr>
</table>
<br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD>&nbsp;</TD>
    <TD align="center" width="1%">&nbsp;</TD>
    <TD align="center" width="12%"><B><u>2003</u></B></TD>
    <TD align="left" width="2%">&nbsp;</TD>
    <TD align="center" width="1%">&nbsp;</TD>
    <TD align="center" width="12%"><B><u>2002</u></B></TD>
    <TD align="left" width="2%">&nbsp;</TD>
    <TD align="center" width="1%">&nbsp;</TD>
    <TD align="center" width="12%"><B><u>2001</u></B></TD>
    <TD align="left" width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD><B>Cash provided by (used in)</B>:</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD><B>Operating activities</B></TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income (loss)
      for the year</TD>
    <TD width="1%" align="center">$</TD>
    <TD width="12%" align="right">(37,863</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="1%" align="center">$</TD>
    <TD width="12%" align="right">(35,264</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="1%" align="center">$</TD>
    <TD width="12%" align="right">(23,205</TD>
    <TD width="2%" align="left">)</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in non-cash
      working capital balances (Note 7)</TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">39,226</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">80,571</TD>
    <TD width="2%" align="left" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">(105,603</TD>
    <TD width="2%" align="left">)</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD align="right" width="12%">1,363</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD align="right" width="12%">45,307</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD align="right" width="12%">(128,808</TD>
    <TD width="2%" align="left">)</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD><B>Investing activity</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment</TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">-</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">(46,024</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">-</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD><B>Increase (decrease) during the year</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">1,363</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">(717</TD>
    <TD width="2%" align="left">)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">(128,808</TD>
    <TD width="2%" align="left">)</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD><B>Cash, beginning of year</B></TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">596</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">1,313</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" style="border-bottom-width:1px;border-bottom-style:solid">130,121</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD><B>Cash, end of year</B></TD>
    <TD width="1%" align="center" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" style="border-bottom-width:4px;border-bottom-style:double">1,959</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" style="border-bottom-width:4px;border-bottom-style:double">596</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%" align="center" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" style="border-bottom-width:4px;border-bottom-style:double">1,313</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
</TABLE>
<br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD><B><I>See accompanying notes.</I></B></TD>
    <TD width="21%" align="right">Page 4</TD>
  </TR>
</TABLE>
<br>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">
<!--$$/page=-->
<A name="page_F-5"></A> <br>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td valign="top" bordercolor="#000000" style="border-bottom-width:2px;border-bottom-style:solid"><B><font size="3">International
      Gemini Technology Inc.</font></B> <B><br>
      Notes to the Financial Statements <br>
      December 31, 2003<br>
      (Expressed in Canadian Dollars) </B></td>
  </tr>
</table>
<br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD valign="top" width="5%">1.</TD>
    <TD valign="top" colspan="2"><p align="justify"><B><u>Continuing Operations</u></B></p>
      <p align="justify"> The Company&#146;s ability to continue as a going concern
        is subject to obtaining financing and achieving profitable operations.</p></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top" colspan="2">&nbsp;</TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">2.</TD>
    <TD valign="top" colspan="2"><p align="justify"><B><u>Significant Accounting
        Policies</u></B></p>
      <p align="justify"> These financial statements have been prepared in accordance
        with accounting principles generally accepted in Canada, which conform
        in all material respects with those in the United States. Outlined below
        are those policies considered particularly significant by the Company.</p></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top" width="5%"><div align="justify">(a)</div></TD>
    <TD valign="top"><p align="justify">Stock-based compensation plan</p>
      <p align="justify"> Effective January 1, 2002, the Company adopted the new
        CICA Handbook Section 3870 &#147;Stock-Based Compensation and Other Stock-Based
        Payments&#148;, which recommends that fair value-based methodology for
        measuring compensation costs. The new section also permits, and the Company
        has adopted the use of the intrinsic value-based method, which recognizes
        compensation for awards to the employees only when the market price exceeds
        the exercise price at the date of grant, but requires pro-forma disclosure
        of earnings and earnings per share as if the fair value method had been
        adopted.</p></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top" width="5%"><div align="justify">(b)</div></TD>
    <TD valign="top"><p align="justify">Use of estimates</p>
      <p align="justify"> The preparation of financial statements in conformity
        with Canadian generally accepted accounting principles requires management
        to make estimates and assumptions that affect the reported amount of assets
        and liabilities, and the disclosure of contingent assets and liabilities
        at the date of the financial statements and the reported amount of revenues
        and expenses during the year. Actual results could differ from these estimates.</p></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top" width="5%"><div align="justify">(c)</div></TD>
    <TD valign="top"><p align="justify">Income taxes</p>
      <p align="justify"> The Company follows the liability method of accounting
        for income taxes whereby future income tax assets and liabilities are
        computed based on differences between the carrying amount of assets and
        liabilities on the balance sheet date and their corresponding tax values
        using the enacted income tax rates at each balance sheet date. Future
        income tax assets also result from unused loss carry-forwards and other
        deductions. The valuation of future income tax assets is reviewed annually
        and adjusted, if necessary, by use of a valuation allowance to reflect
        the estimated realizable amount.</p></TD>
  </TR>
</TABLE>
<P align="right"> Page 5 </P>
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<A name="page_F-6"></A> <br>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td valign="top" bordercolor="#000000" style="border-bottom-width:2px;border-bottom-style:solid"><B><font size="3">International
      Gemini Technology Inc.</font></B> <B><br>
      Notes to the Financial Statements <br>
      December 31, 2003<br>
      (Expressed in Canadian Dollars) </B></td>
  </tr>
</table>
<br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD valign="top" width="5%">2.</TD>
    <TD valign="top" colspan="2"><div align="justify"><B><u>Significant Accounting
        Policies</u> </B>(continued)</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top" width="5%"><div align="justify">(d)</div></TD>
    <TD valign="top"><p align="justify">Earnings (loss) per share</p>
      <p align="justify"> The Company uses the treasury stock method to compute
        the dilutive effect of options, warrants and similar instruments. Under
        this method the dilutive effect on earnings per share is recognized on
        the use of the proceeds that could be obtained upon exercise of options,
        warrants and similar instruments. It assumes that the proceeds would be
        used to purchase common shares at the average market price during the
        period. Fully diluted loss per share have been calculated on the assumption
        that preferred shares were converted into common shares at a conversion
        value of $1 per share by $0.45.</p>
      <p align="justify"> Loss per share is calculated using the weighted-average
        number of shares outstanding during the year.</p></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top" colspan="2">&nbsp;</TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">3.</TD>
    <TD valign="top" colspan="2"><p align="justify"><B><u>Financial Instruments</u></B></p>
      <p align="justify"> The Company&#146;s financial instruments consist of
        cash, accounts receivable, investment, accounts payable and accrued liabilities.
        It is management&#146;s opinion that the Company is not exposed to significant
        interest, currency or credit risks arising from these financial instruments.
        The fair value of these financial instruments approximate their carrying
        values.</p></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top" colspan="2">&nbsp;</TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">4.</TD>
    <TD valign="top" colspan="2"><p align="justify"><B><u>Investment</u></B></p>
      <p align="justify"> The investment is recorded at cost and represents a
        3% interest in a private company, B.W.N. Oil Technologies Inc.</p></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top" colspan="2">&nbsp;</TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">5.</TD>
    <TD valign="top" colspan="2"><p align="justify"><B><u>Related Party Transactions</u></B></p>
      <p align="justify"> During the year ended December 31, 2003, a company in
        which a director has an interest charged the Company $36,000 (2002: $36,000,
        2000: $50,500) for rent and management fees. The unpaid portion of these
        amounts, plus additional advances and other amounts due to directors,
        aggregating $10,885 (2002: $77,562, 2001: $21,704) is included in accounts
        payable and accrued liabilities at December 31, 2003.</p>
      <p align="justify"> A Company in which a director has an interest was charged
        $3,000 (2002: $12,000, 2001: $Nil) for consulting fees during the year
        ended December 31, 2003. The unpaid portion of these amounts, aggregating
        $Nil (2002: $98,940, 2000: $86,100) is included in accounts receivable
        at December 31, 2003.</p></TD>
  </TR>
</TABLE>
<P align="right"> Page 6 </P>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">
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<A name="page_F-7"></A> <br>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td valign="top" bordercolor="#000000" style="border-bottom-width:2px;border-bottom-style:solid"><B><font size="3">International
      Gemini Technology Inc.</font></B> <B><br>
      Notes to the Financial Statements <br>
      December 31, 2003<br>
      (Expressed in Canadian Dollars) </B></td>
  </tr>
</table>
<br>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="5%" valign="top"><strong>6.</strong></td>
    <td colspan="3" valign="top"><div align="justify"><B><U>Share Capital</U></B></div></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td width="5%" valign="top">&nbsp;</td>
    <td width="5%" valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top"><div align="justify">a) </div></td>
    <td colspan="2" valign="top"><div align="justify">The authorized capital of
        the Company comprises 100,000,000 Common shares without par value and
        100,000,000 Series 1 Convertible Preferred shares without par value. The
        rights and restrictions of the Preferred shares are as follows:</div></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top"><div align="justify">i) </div></td>
    <td><div align="justify">dividends shall be paid at the discretion of the
        directors;</div></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top"><div align="justify">ii) </div></td>
    <td><div align="justify">the holders of the Preferred shares are not entitled
        to vote except at meetings of the holders of the Preferred shares, where
        they are entitled to one vote for each Preferred Share held;</div></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top"><div align="justify">iii) </div></td>
    <td><div align="justify">the shares are convertible at any time; and</div></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top"><div align="justify">iv) </div></td>
    <td><div align="justify">the number of the Common shares to be received on
        conversion of the Preferred shares is to be determined by dividing the
        conversion value of the share, $1 per share, by $0.45.</div></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top"><div align="justify">b) </div></td>
    <td valign="top"><div align="justify">i) </div></td>
    <td><div align="justify">Common shares</div></td>
  </tr>
</table>
<br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD width="15%">&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD colspan="3" align="center" style="border-bottom-width:1px;border-bottom-style:solid"><B>2003</B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD colspan="3" align="center" style="border-bottom-width:1px;border-bottom-style:solid"><B>2002</B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD width="12%" align="center" style="border-bottom-width:1px;border-bottom-style:solid"><B>Shares</B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD width="12%" align="center" style="border-bottom-width:1px;border-bottom-style:solid"><B>$
      </B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD width="12%" align="center" style="border-bottom-width:1px;border-bottom-style:solid"><B>Shares</B></TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%" align="center" style="border-bottom-width:1px;border-bottom-style:solid"><B>$</B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD bgcolor="#E6EFFF">Balance, beginning and end of year</TD>
    <TD width="2%" align="right" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="center" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">8,323,119</TD>
    <TD width="2%" align="center" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="center" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">12,660,559</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="center" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">8,323,119</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="center" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">12,660,559</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
  </TR>
</TABLE>
<br>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="5%" valign="top">&nbsp;</td>
    <td width="5%" valign="top">&nbsp;</td>
    <td width="5%" valign="top">ii)</td>
    <td> Preferred shares </td>
  </tr>
</table>
<br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD width="15%">&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD colspan="3" align="center" style="border-bottom-width:1px;border-bottom-style:solid"><B>2003</B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD colspan="3" align="center" style="border-bottom-width:1px;border-bottom-style:solid"><B>2002</B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD width="12%" align="center" style="border-bottom-width:1px;border-bottom-style:solid"><B>Shares</B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD width="12%" align="center" style="border-bottom-width:1px;border-bottom-style:solid"><B>$
      </B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD width="12%" align="center" style="border-bottom-width:1px;border-bottom-style:solid"><B>Shares</B></TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%" align="center" style="border-bottom-width:1px;border-bottom-style:solid"><B>$</B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="2%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD bgcolor="#E6EFFF">Balance, beginning and end of year</TD>
    <TD width="2%" align="center" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="center" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">604,724</TD>
    <TD width="2%" align="center" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="center" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">640,724</TD>
    <TD width="2%" align="center" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="center" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">604,724</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="center" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">640,724</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
  </TR>
</TABLE>
<br>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="5%" valign="top">7.&nbsp;</td>
    <td><B><U>Changes in Non-Cash Working Capital Balances Relating to Operations</U></B><B>
      </B> </td>
  </tr>
</table>
<br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD width="5%">&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" width="1%">&nbsp;</TD>
    <TD align="center" width="12%"><B><u>2003</u></B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD align="center" width="1%">&nbsp;</TD>
    <TD align="center" width="12%"><B><u>2002</u></B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD align="center" width="1%">&nbsp;</TD>
    <TD align="center" width="12%"><B><u>2001</u></B></TD>
    <TD align="left" width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD bgcolor="#E6EFFF">Accounts receivable</TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF">$</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">109,479</TD>
    <TD width="2%" align="left" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF">$</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">(22,912</TD>
    <TD width="2%" align="left" bgcolor="#E6EFFF">)</TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF">$</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">(1,554</TD>
    <TD width="2%" align="left" bgcolor="#E6EFFF">)</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>Note receivable</TD>
    <TD width="1%">&nbsp;</TD>
    <TD align="right" width="12%">-</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD align="right" width="12%">46,024</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD align="right" width="12%">(46,024</TD>
    <TD width="2%" align="left">)</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD bgcolor="#E6EFFF">Accounts payable and accrued liabilities</TD>
    <TD width="1%" bgcolor="#E6EFFF" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF" style="border-bottom-width:1px;border-bottom-style:solid">(70,253</TD>
    <TD width="2%" align="left" bgcolor="#E6EFFF">)</TD>
    <TD width="1%" bgcolor="#E6EFFF" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF" style="border-bottom-width:1px;border-bottom-style:solid">57,459</TD>
    <TD width="2%" align="left" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="1%" bgcolor="#E6EFFF" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF" style="border-bottom-width:1px;border-bottom-style:solid">(58,025</TD>
    <TD width="2%" align="left" bgcolor="#E6EFFF">)</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%" align="right">&nbsp;</TD>
    <TD width="2%" align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">39,226</TD>
    <TD width="2%" align="left" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">80,571</TD>
    <TD width="2%" align="left" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">(105,603</TD>
    <TD width="2%" align="left" bgcolor="#E6EFFF">)</TD>
  </TR>
</TABLE>
<P align="right"> Page 7 </P>
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<A name="page_F-8"></A> <br>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td valign="top" bordercolor="#000000" style="border-bottom-width:2px;border-bottom-style:solid"><B><font size="3">International
      Gemini Technology Inc.</font></B> <B><br>
      Notes to the Financial Statements <br>
      December 31, 2003<br>
      (Expressed in Canadian Dollars) </B></td>
  </tr>
</table>
<br>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="5%" valign="top"><strong>8.&nbsp;</strong></td>
    <td><P align="justify"><B><U>Income Taxes</U></B> </P>
      <P align="justify"> The Company incurred an operating loss for the period
        of $37,863 (2002: $35,443) which, if unutilized will expire in 2010. Future
        tax benefits which may arise due to this loss has not been recognized
        in these statements, as its realization is not judged likely to occur.
      </P>
      <P align="justify"> A reconciliation of income taxes at statutory rates
        with the reported taxes are as follows: </P></td>
  </tr>
</table>
<br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD width="5%">&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" width="1%">&nbsp;</TD>
    <TD align="center" width="12%"><B><u>2003</u></B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD align="center" width="1%">&nbsp;</TD>
    <TD align="center" width="12%"><B><u>2002</u></B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="center">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="center">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD bgcolor="#E6EFFF">Loss for the year</TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">37,863</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">35,443</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD bgcolor="#E6EFFF">Income tax recovery of statutory rates</TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF"><B>$</B></TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">13,479</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF">$</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">12,617</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD bgcolor="#E6EFFF">Unrecognized benefit of non-capital losses</TD>
    <TD width="1%" bgcolor="#E6EFFF" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF" style="border-bottom-width:1px;border-bottom-style:solid">(13,479</TD>
    <TD width="2%" bgcolor="#E6EFFF">)</TD>
    <TD width="1%" bgcolor="#E6EFFF" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF" style="border-bottom-width:1px;border-bottom-style:solid">(12,617</TD>
    <TD width="2%" bgcolor="#E6EFFF">)</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD bgcolor="#E6EFFF">Total income taxes</TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">-</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">-</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
  </TR>
</TABLE>
<br>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="5%" valign="top">&nbsp;</td>
    <td>The significant components of the Company&#146;s future income tax assets
      are as follows: </td>
  </tr>
</table>
<br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align="center" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="center" style="border-bottom-width:1px;border-bottom-style:solid"><B>2003</B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
    <TD width="1%" align="center" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="center" style="border-bottom-width:1px;border-bottom-style:solid"><B>2002</B></TD>
    <TD align="center" width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="center">&nbsp;</TD>
    <TD width="1%" align="center">&nbsp;</TD>
    <TD width="12%" align="center">&nbsp;</TD>
    <TD width="2%" align="center">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD bgcolor="#E6EFFF">Future income tax assets:</TD>
    <TD width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD bgcolor="#E6EFFF">Non-capital losses carried forward</TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF">$</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">34,294</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF">$</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">20,815</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD bgcolor="#E6EFFF">Research and development expenses carried forward</TD>
    <TD width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">1,220,128</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF">1,220,128</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD bgcolor="#E6EFFF">Valuation allowance</TD>
    <TD width="1%" bgcolor="#E6EFFF" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF" style="border-bottom-width:1px;border-bottom-style:solid">(1,254,422</TD>
    <TD width="2%" bgcolor="#E6EFFF">)</TD>
    <TD width="1%" bgcolor="#E6EFFF" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp;</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF" style="border-bottom-width:1px;border-bottom-style:solid">(1,240,943</TD>
    <TD width="2%" bgcolor="#E6EFFF">)</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD bgcolor="#E6EFFF">Future income tax</TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">-</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD width="1%" align="center" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">$</TD>
    <TD width="12%" align="right" bgcolor="#E6EFFF" style="border-bottom-width:4px;border-bottom-style:double">-</TD>
    <TD width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
  </TR>
</TABLE>
<br>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="5%" valign="top">&nbsp;</td>
    <td><P align="justify">The Company has $96,332 in non capital losses which
        expire at various dates to the year ended December 31, 2010. </P>
      <P align="justify"> In addition, the Company has accumulated timing differences
        comprised primarily of research and development expenditures not yet deducted
        for income tax purposes of $3,427,326. </P>
      <P align="justify"> The related potential income tax benefits with respect
        to these items have not been recorded in the accounts. Application and
        expiration of these carryforward balances are subject to relevant provisions
        of the Income Tax Act, Canada. </P></td>
  </tr>
</table>
<P align="right"> Page 8 </P>
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</HTML>


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>3
<FILENAME>exhibit12-1.htm
<DESCRIPTION>SECTION 302 CERTIFICATION OF CHIEF EXECUTIVE OFFICER
<TEXT>
<!DOCTYPE HTML PUBLIC "exhibit12-2">


<HTML>
<HEAD>
   <TITLE>Filed by Automated Filing Services Inc. (604) 609-0244 - International Gemini Technology Inc. - Exhibit 112.1</TITLE>

</HEAD>

<BODY bgcolor="#FFFFFF" style="font-size: 10pt;">
<!--$$/page=-->
<A name="page_1"></A>
<hr noshade align="center" width="100%" size=3 color="black">
<p align="center"> <B>EXHIBIT 12.1</B></p>
<p align="center"> <B>RULE 13A-14(A) CERTIFICATION IN ACCORDANCE WITH</B><BR>
  <B>SECTION 302 OF THE SARBANES OXLEY ACT OF 2002</B></p>
<p> I, Edward Dolejsi, President and CEO of International Gemini Technology Inc.
  (the &#147;Company&#148;), certify that: </p>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD valign="top" width="5%">1.</TD>
    <TD colspan="2" valign="top"><div align="justify">I have reviewed this annual
        report on Form 20-F of the Company;</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify"></div></TD>
    <TD valign="top"><div align="justify"></div></TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">2.</TD>
    <TD colspan="2" valign="top"><div align="justify">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;</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify"></div></TD>
    <TD valign="top"><div align="justify"></div></TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">3.</TD>
    <TD colspan="2" valign="top"><div align="justify">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 Company as of, and for, the
        periods presented in this report;</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify"></div></TD>
    <TD valign="top"><div align="justify"></div></TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">4.</TD>
    <TD colspan="2" valign="top"><div align="justify">The Company&#146;s other
        certifying officer and I are responsible for establishing and maintaining
        disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)
        and 15d-15(e)) for the Company and have:</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify"></div></TD>
    <TD valign="top"><div align="justify"></div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify">a) </div></TD>
    <TD valign="top"><div align="justify">Designed such disclosure controls and
        procedures, or caused such disclosure controls and procedures to be designed
        under our supervision, to ensure that material information relating to
        the Company, including its consolidated subsidiaries, is made known to
        us by others within those entities, particularly during the period in
        which this report is being prepared;</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify"></div></TD>
    <TD valign="top"><div align="justify"></div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify">b) </div></TD>
    <TD valign="top"><div align="justify">Evaluated the effectiveness of the Company&#146;s
        disclosure controls and procedures and presented in this report our 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</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify"></div></TD>
    <TD valign="top"><div align="justify"></div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify">c) </div></TD>
    <TD valign="top"><div align="justify">Disclosed in this report any change
        in the Company&#146;s internal control over financial reporting that occurred
        during the period covered by the annual report that has materially affected,
        or is reasonably likely to materially affect, the Company&#146;s internal
        control over financial reporting; and</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify"></div></TD>
    <TD valign="top"><div align="justify"></div></TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">5.</TD>
    <TD colspan="2" valign="top"><div align="justify">The Company&#146;s other
        certifying officer and I have disclosed, based on our most recent evaluation
        of internal control over financial reporting, to the Company&#146;s auditors
        and the audit committee of the Company&#146;s board of directors (or persons
        performing the equivalent functions):</div></TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%"><div align="justify"></div></TD>
    <TD valign="top"><div align="justify"></div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify">a) </div></TD>
    <TD valign="top"><div align="justify">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 Company&#146;s
        ability to record, process, summarize and report financial information;
        and</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify"></div></TD>
    <TD valign="top"><div align="justify"></div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify">b) </div></TD>
    <TD valign="top"><div align="justify">Any fraud, whether or not material,
        that involves management or other employees who have a significant role
        in the Company&#146;s internal control over financial reporting.</div></TD>
  </TR>
</TABLE>

<p>Date: March 29, 2004</p>
<p>&nbsp;</p>
<p><u>/s/ Edward Dolejsi</u><br>
  Edward Dolejsi <br>
  President and CEO</p>
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<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>4
<FILENAME>exhibit12-2.htm
<DESCRIPTION>SECTION 302 CERTIFICATION OF CHIEF FINANCIAL OFFICER
<TEXT>
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<HEAD>
   <TITLE>Filed by Automated Filing Services Inc. (604) 609-0244 - International Gemini Technology Inc. - Exhibit 12.2</TITLE>

</HEAD>

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<P align="center">
<B>EXHIBIT 12.2 </B>
</P>
<P align="center"> <B>RULE 13A-14(A) CERTIFICATION IN ACCORDANCE WITH</B> <br>
  <B>SECTION 302 OF THE SARBANES OXLEY ACT OF 2002</B> </P>
<P>
I, Edward D. Ford, Director and acting Chief Accounting Officer of International Gemini Technology Inc. (the &#147;Company&#148;), certify that:
</P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD valign="top" width="5%">1.</TD>
    <TD colspan="2" valign="top"><div align="justify">I have reviewed this annual
        report on Form 20-F of the Company;</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify"></div></TD>
    <TD valign="top"><div align="justify"></div></TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">2.</TD>
    <TD colspan="2" valign="top"><div align="justify">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;</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify"></div></TD>
    <TD valign="top"><div align="justify"></div></TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">3.</TD>
    <TD colspan="2" valign="top"><div align="justify">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 Company as of, and for, the
        periods presented in this report;</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="2" valign="top"><div align="justify"></div></TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">4.</TD>
    <TD colspan="2" valign="top"><div align="justify">The Company&#146;s other
        certifying officer and I are responsible for establishing and maintaining
        disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)
        and 15d-15(e)) for the Company and have:</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify"></div></TD>
    <TD valign="top"><div align="justify"></div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify">a) </div></TD>
    <TD valign="top"><div align="justify">Designed such disclosure controls and
        procedures, or caused such disclosure controls and procedures to be designed
        under our supervision, to ensure that material information relating to
        the Company, including its consolidated subsidiaries, is made known to
        us by others within those entities, particularly during the period in
        which this report is being prepared;</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify"></div></TD>
    <TD valign="top"><div align="justify"></div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify">b)</div></TD>
    <TD valign="top"> <div align="justify">Evaluated the effectiveness of the
        Company&#146;s disclosure controls and procedures and presented in this
        report our 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</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify"></div></TD>
    <TD valign="top"><div align="justify"></div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify">c) </div></TD>
    <TD valign="top"><div align="justify">Disclosed in this report any change
        in the Company&#146;s internal control over financial reporting that occurred
        during the period covered by the annual report that has materially affected,
        or is reasonably likely to materially affect, the Company&#146;s internal
        control over financial reporting; and</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify"></div></TD>
    <TD valign="top"><div align="justify"></div></TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">5.</TD>
    <TD colspan="2" valign="top"><div align="justify">The Company&#146;s other
        certifying officer and I have disclosed, based on our most recent evaluation
        of internal control over financial reporting, to the Company&#146;s auditors
        and the audit committee of the Company&#146;s board of directors (or persons
        performing the equivalent functions):</div></TD>
  </TR>
  <TR>
    <TD valign="top" width="5%">&nbsp;</TD>
    <TD valign="top" width="5%"><div align="justify"></div></TD>
    <TD valign="top"><div align="justify"></div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify">a) </div></TD>
    <TD valign="top"><div align="justify">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 Company&#146;s
        ability to record, process, summarize and report financial information;
        and</div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify"></div></TD>
    <TD valign="top"><div align="justify"></div></TD>
  </TR>
  <TR>
    <TD valign="top">&nbsp;</TD>
    <TD valign="top"><div align="justify">b) </div></TD>
    <TD valign="top"><div align="justify">Any fraud, whether or not material,
        that involves management or other employees who have a significant role
        in the Company&#146;s internal control over financial reporting.</div></TD>
  </TR>
</TABLE>

<p>Date: March 29, 2004</p>
<p>&nbsp;</p>
<p><u>/s/ Edward D. Ford </u><br>
  Edward D. Ford<BR>
  Director and acting Chief Accounting Officer</p>
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<DOCUMENT>
<TYPE>EX-13.1
<SEQUENCE>5
<FILENAME>exhibit13-1.htm
<DESCRIPTION>SECTION 906 CERTIFICATION OF CHIEF EXECUTIVE OFFICER
<TEXT>
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<HEAD>
   <TITLE>Filed by Automated Filing Services Inc. (604) 609-0244 - International Gemini Technology Inc. - Exhibit 13.1</TITLE>

</HEAD>

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<P align="center"> <B>EXHIBIT 13.1</B> </P>
<P align="center"> <B>SECTION 1350 CERTIFICATION PURSUANT TO SECTION 906 OF THE
  </B> <br>
  <B>SARBANES-OXLEY ACT OF 2002*</B> </P>
<P align="justify"> In connection with the annual report of International Gemini
  Technology Inc. (the &#147;Company&#148;) on Form 20-F for the period ending
  December 31, 2003 as filed with the Securities and Exchange Commission on the
  date hereof (the &#147;Report&#148;), I, Edward Dolejsi, President and CEO of
  the Company, certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant
  to section 906 of the Sarbanes-Oxley Act of 2002, that: </P>
<P align="justify"> (1) the Report containing the financial statements of the
  Company fully complies with the requirements of section 13(a) or 15(d), as applicable,
  of the Securities Exchange Act of 1934; and </P>
<P align="justify"> (2) the information contained in the Report fairly presents,
  in all material respects, the financial condition and results of operations
  of the Company. </P>
<P>
Date: March 29, 2004
</P>
<P> <u>/s/ Edward Dolejsi </u><br>
  Edward Dolejsi <br>
  President and CEO </P>
<P align="justify"> <B>* </B>A signed original of this written statement required
  by Section 906 has been provided to the Company and will be retained by the
  Company and furnished to the Securities and Exchange Commission or its staff
  upon request. </P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.2
<SEQUENCE>6
<FILENAME>exhibit13-2.htm
<DESCRIPTION>SECTION 906 CERTIFICATION OF CHIEF FINANCIAL OFFICER
<TEXT>
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<HEAD>
   <TITLE>Filed by Automated Filing Services Inc. (604) 609-0244 - International Gemini Technology Inc. - Exhibit 13.2</TITLE>

</HEAD>

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<P align="center"> <B>EXHIBIT 13.2</B> </P>
<P align="center"> <B>SECTION 1350 CERTIFICATION PURSUANT TO SECTION 906 OF THE
  </B> <br>
  <B>SARBANES-OXLEY ACT OF 2002*</B> </P>
<P align="justify"> In connection with the annual report of International Gemini
  Technology Inc. (the &#147;Company&#148;) on Form 20-F for the period ending
  December 31, 2003 as filed with the Securities and Exchange Commission on the
  date hereof (the &#147;Report&#148;), I, Edward D. Ford, Director and acting
  Chief Accounting Officer of the Company, certify, pursuant to 18 U.S.C. section
  1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002,
  that: </P>
<P align="justify"> (1) the Report containing the financial statements of the
  Company fully complies with the requirements of section 13(a) or 15(d), as applicable,
  of the Securities Exchange Act of 1934; and </P>
<P align="justify"> (2) the information contained in the Report fairly presents,
  in all material respects, the financial condition and results of operations
  of the Company. </P>
<P align="justify"> Date: March 29, 2004 </P>
<P align="justify"> <u>/s/ Edward D. Ford </u><br>
  Edward D. Ford <br>
  Director and acting <br>
  Chief Accounting Officer </P>
<P align="justify"> <B>* </B>A signed original of this written statement required
  by Section 906 has been provided to the Company and will be retained by the
  Company and furnished to the Securities and Exchange Commission or its staff
  upon request. </P>

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