Company/File No.: TEL90 State & Year of Inc. UT - 1981 Est. No. of Shareholders: 50 Common Stock: Authorized: 50,000,000 Outstanding:3,890,000 Par Value: .02 Preferred: Authorized: 0 Outstanding:   Par Value:   Warrants Outstanding? No Shareholder/pooling agreements? No Number of Shares: Public float: 1,500,000 Restricted Shares: Insider Registered Shares:2,000,000 Non-affiliate, Registered Shares available:  How did Company become publicly held? S-1 Reporting Company? Yes Current in filings? Yes 15c2-11? Yes Is the Stock trading or quoted? Yes Where? OTC/BB Bid 0.10  Ask 0.20 Blue Sky Manual Exemption? Yes With whom? S&P Are there any Regulatory problems with the SEC/NASD? No Do current or past Officers/Directors have any Regulatory problems with SEC? No Any current or past legal problems, liabilities, or litigation? If yes, explain: Is the Corporation in good standing with the State of Inc.? Yes Any State or Federal Income Tax owed? No Amount: Are the minute books up to date? Yes Name of Transfer Agent: Audited Financial Statements? Yes Last year Audit was completed: 12/30/01 Assets $ 1,200,000 Description: operating business Liabilities $ 1,600,000 Description: Comments/Explanations (If Any) Principal of company wants to sell control for $450,000 and cancel control shares and spin out operating business leaving no liabilities.