CONTESSA CORPORATION
                         (a development stage company)
                     CONSOLIDATED STATEMENT OF CASH FLOWS

                                                                          For the
                                                                           period
                                           For the        For the      from inception
                                         year ended     year ended    March 7, 1996 to
                                        December 31,   December 31,     December 31,
                                            1998           1999             1999
                                        -------------  -------------  -----------------
Cash Flows from Operating Activities
 Net profit (loss)                         $(114,866)      $(63,691)         $(355,217)
 Depreciation and amortization                   -0-            -0-                -0-
 Non-cash transactions                                                          10,056
                                           ----------      ---------         ----------
Total Cash Flows from
 Operations                                 (114,866)       (63,691)          (345,161)

Cash Flows from Financing Activities
 Loan payable                                                10,150             10,150
 Loan payable-affiliated parties                             49,224            176,656
 Sale of stock                                18,902                           301,037
                                           ----------      ---------         ----------
Total Cash Flows from
 Financing Activities                         18,902         59,374            487,843

Cash Flows from Investing Activities
 Capital assets                              (29,878)                         (132,148)
 Security deposit                             (7,022)                          (10,533)
                                           ----------      ---------         ----------
Total Cash Flows from
 Investing Activities                        (31,400)                         (142,681)

Net Increase(Decrease)in Cash                (23,818)        (4,317)                 1

Cash Balance Beginning
 of Period                                    28,136          4,318                -0-
                                           ---------       --------          ---------
Cash Balance End of Period                 $   4,318       $      1          $       1
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