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Business Development. - ---------------------

For a discussion of the business development of Icon Systems, Inc., a Nevada corporation (the "Company"), from inception to the end of the calendar year ended June 30, 1997, see its Registration Statement on Form 10-SB-A1, which was filed with the Securities and Exchange Commission (the "Commission") on March 26, 1997, and its Annual Report on Form 10-KSB for the calendar year ended June 30, 1997, which was filed with the Commission on August 27, 1998, each of which is incorporated herein by this reference. See Item 13 of this Report.

Business. - ---------

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