QUANTUM BIT INDUCTION TECHNOLOGY, INC.
STATEMENT OF OPERATIONS
FROM DECEMBER 31, 2002 THROUGH DECEMBER 31, 2003
	For the period ended
	12/31/2003	12/31/2002
REVENUE
Sales	$        500	$     2,338
Out of Office Referrals	$   42,958	_
Insurance	$   15,603	_
Attorney/Personal Injury	$            -	_
Private Pay & Collected from Patient	$     5,043	_
Adjustments for Insurance Overpayments	$       (589)	_
TOTAL REVENUE	$   63,515	$     2,338
EXPENSES
General and Administrative	$   78,902	$    35,284
Research and Development	$            -	$    28,670
Professional Services	$   13,882	$     3,568
Total Expenses	$   92,784	$    67,522
OTHER INCOME (EXPENSES)
Medical expenses reimbursement	$            -
Gain (loss) on sale of short-term investment	$            -	$ (114,910)
Interest income	$            -	$        249
Interest expense	$            -	$    (1,410)
Unrealized gain (loss) on investments net
of reclassification adjustment		$   (34,263)
Total Other Income (Expense)	$            -	$ (150,334)
NET INCOME	$  (29,269)	$ (215,518)
The accompanying notes are an integral part of these financial statements.