International Sports Wagering Inc.
                           Statements of Operations
                   Years ended September 30, 2000 and 1999
                                                  Year ended      Year ended
                                                 September 30,   September 30,
                                                     2000            1999
    Revenues, net                                $ 1,580,726        $10,990
    Costs and expenses:
      Research and development expense             1,020,051      1,017,471
      General and administrative expense           1,557,969      1,512,471
                                                   2,578,020      2,529,942
        Operating loss                             (997,294)    (2,518,952)
    Interest income                                  134,076        125,713
    Gain on sale of condominium                       19,043             --
                                                     153,119        125,713
        Net loss                                  $(844,175)    (2,393,239)
    Net loss per share                               $(0.10)         (0.31)

    Weighted average common shares and
     equivalents outstanding -
     basic and diluted                             8,613,863      7,831,824