SKYWAY COMMUNICATIONS HOLDING CORP. AND SUBSIDIARY
(A Development Stage Company)

           CONSOLIDATED BALANCE SHEET AS OF APRIL 30, 2004 (Continued)

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
    Accounts payable                                  $     862,335
    Accrued payroll                                         119,378
    Accrued interest                                         14,279
    Due to SkyWay Global                                    258,869
    Due to related party                                      5,078
    Sales tax payable                                       116,827
    Notes payable                                         1,528,600
    Deferred rent                                           173,880
    Other accrued expenses      991,984
           Total Current Liabilities    4,071,230
    Total Liabilities    4,071,230

STOCKHOLDERS' EQUITY:
Preferred stock, $.0001 par value, 10,000,000
  shares authorized:
  Series A convertible preferred stock,
     1,000,000 shares issued and outstanding                    100
  Series B convertible preferred stock,
     1,000,000 shares issued and outstanding                    100
  Series C convertible preferred stock,
     2,812,000 shares issued and outstanding                    281
  Series D convertible preferred stock,
     85,000 shares issued and outstanding                         9

Common stock, $.0001 par value, 2,500,000,000
   shares authorized, 135,408,537 shares issued
   and outstanding                                           13,541
Subscription Receivable                                  (1,040,000)
Warrant Receivable                                          (10,923)
Deferred Stock Compensation                              (1,411,942)
Capital in excess of par value                           28,450,265
Deficit accumulated during the development stage  (23,100,013)
       Total Stockholders' Equity    2,901,418

TOTAL                                                 $   6,972,648
                                                      ==============