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SEC FILE NUMBER: 000-17232

Address of Principal Executive Office (Street and Number): 1530 9^th AVENUE, S.E.

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b),

(a) The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense.

(b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof,

will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report of transition report

on Form 10-Q, or portion thereof will be filed on or before the fifth calendar day following the prescribed due date; and

(c) The accountant's statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, N-SAR, or the transition report or portion thereof, could

not be filed within the prescribed time period. (Attach Extra Sheets if Needed)

W. Scott Lawler, Esq.

403

693-8014

(2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment

Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been

filed? If answer is no, identify report(s). X Yes No

(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected

by the earnings statements to be included in the subject report or portion thereof? X Yes No

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable

estimate of the results cannot be made.

During fiscal year ended December 31, 2001, the Company acquired Food and Culinary Technology Group, Inc. ("FACT Group"), a

Nevada corporation, which was commencing its business operations in the functional food industry in the beginning of fiscal year 2002.

Prior to that, the Company had only real estate assets and oil and gas assets with limited operations.

Subsequent to the acquisition of FACT Group, the financial statements of the Company were consolidated to include operations of

FACT Group at the end of each financial reporting period.

As a result of the ongoing operations of FACT Group, it is expected that the Company earned gross revenues from sales and rental income

generated by FACT Group during the quarter ended March 31, 2003 of approximately $44,000, while no such similar revenues were generated by FACT Group during the same period from the previous fiscal year.

It is expected that the Company's total operating expenses will have also increased during this quarter due to an increase in

personnel utilized or employed by FACT Group. As a result, including the increase in revenue noted above, it is anticipated that the

Company's net losses for the subject quarter will be similar to the Company's net losses for the same quarter during the previous year.

FACT CORPORATION

(Name of Registrant as Specified in Charter)

By: /s/ Jacqueline Danforth

INSTRUCTION: The form may be signed by an executive officer of the registrant or by any other duly authorized representative. The name

and title of the person signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by

an authorized representative (other than an executive officer), evidence of the representative's authority to sign on behalf of the registrant shall

1. This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the General Rules and Regulations under the Securities Exchange Act

2. One signed original and four conformed copies of this form and amendments thereto must be completed and filed with the Securities

and Exchange Commission, Washington, D.C. 20549, in accordance with Rule 0-3 of the General Rules and Regulations under the Act. The

3. A manually signed copy of the form and amendments thereto shall be filed with each national securities exchange on which any class of

4. Amendments to the notifications must also be filed on form 12b-25 but need not restate information that has been correctly furnished. The

5. Electronic Filers. This form shall not be used by electronic filers unable to timely file a report solely due to electronic difficulties. Filers

unable to submit a report within the time period prescribed due to difficulties in electronic filing should comply with either Rule 201 or Rule

202 of Regulation S-T (232.201 or 232.202 of this chapter) or apply for an adjustment in filing date pursuant to rule 13(b) of Regulation