8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549


                                    FORM 8-K

                                 CURRENT REPORT
                       Pursuant to Section 13 OR 15(d) of
                       the Securities Exchange Act of 1934


      Date of Report (Date of earliest reported event):  September 2, 2003


                      Internet Business International, Inc.
             (Exact name of registrant as specified in its charter)


             Nevada                   0-20259                    33-0845463
(State  or  other  jurisdiction     (Commission                 (IRS Employer
      of  incorporation)           File  Number)            Identification  No.)


                      2250 E. Tropicana Ave., Suite 19-309
                             Las Vegas, Nevada 89119

               (Address of principal executive offices)  (Zip Code)

                                 (702) 588-2387
               Registrant's telephone number, including area code

                                      None
          (Former name or former address, if changed since last report)


ITEM  5.  OTHER  INFORMATION.

Internet  Business  International, Inc. (the "Company") previously reported that
it  had  sold  the  Ace  Optics division of the Company to DCM Enterprises, Inc.

Whereas  the  Ace Optics division has subsequently failed as a business venture,
the  Company  and DCM Enterprises, Inc have entered into an agreement to resolve
the  dispute regarding shares common stock issued to the Company pursuant to the
terms  of  the  Asset  Purchase Agreement dated June 17, 2002.  The Agreement is
attached  hereto  as  Exhibit  99.1.




ITEM  7.  FINANCIAL  STATEMENTS  AND  EXHIBITS

(c)     Exhibits

Exhibit  No.     Description
  99.1           Agreement  dated  August  22,  2003  by  and  between Internet
                 Business International,  Inc.  and  DCM  Enterprises,  Inc.


                                    SIGNATURE

Pursuant  to  the  requirements  of  the  Securities  Exchange  Act of 1934, the
Registrant  has  duly  caused  this  report  to  be  signed on its behalf by the
undersigned  hereunto  duly  authorized.

                                        INTERNET  BUSINESS  INTERNATIONAL,  INC.


Date:  September  4,  2003              By:  /s/Albert  R.  Reda
                                        Albert  R.  Reda
                                        Chief  Executive  Officer

EX-99.1

EXHIBIT  99.1
                                    AGREEMENT
                                    ---------

This  Agreement  is  made  this 22nd day of August 2003, by and between Internet
Business's  International,  Inc. ("Seller") and DCM Enterprises, Inc. ("Buyer").

Buyer desires to obtain from Seller an alternative company from Seller since Ace
Optics  ceased  operations immediately after the acquisitions of it by Buyer. In
lieu  of  an  alternative Company the Buyer and Seller agree that the balance of
the  DCME  stock  received  by  the  Seller  will  be  returned  to  the  Buyer.
Therefore;  Seller  and  Buyer  are  hereinafter  agreed  to  according  to them
following  terms  below:

Term  of  Agreement;  Seller hereby agrees  to either return the balances of the
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stock  (1,517,264  shares of DCME) received from Buyer within 6 months from date
of  agreement  or  provide  a  new  Company  of equal value to the Buyer. If new
Company  is  presented  to  Buyer  and  is  accepted by buyer then the following
conditions  will  apply.

     1.   Price  Per  Share  for Determination of Equity; The minimum evaluation
          ----------------------------------------------  price  of  the  Common
          Shares  of DCME held by Seller covered by the Agreement shall be Fifty
          Cents  ($.50)  per  share. This is equal to $760,000 for evaluation of
          equity  for  new  Company  sold  to  Buyer.

     2.   Equity  Difference  Based if any for New Company; Equity difference if
          ------------------------------------------------  any  will be paid to
          Buyer  either  in  cash,  note,  Preferred  Stock,  or  return  of the
          difference  in  value  with  DCME stock based upon $.50 per share. The
          cash,  issuance  of note, Preferred Stock, and or return of DCME stock
          will  be  paid  or  issued  after  the  6th  month  from  date of this
          agreement.

     3.   Term  of  Note  if Applicable; The  notes value will be based upon the
          ------------------------------  equity  difference  of the new Company
          and  the  agreed value of the stock, which is $760,000, secured by the
          assets  of  the Seller. The note will be all due and payable within 18
          months  from  date of this agreement. It will bear an interest rate of
          5%  per  annum  and  accrued  interest  will  be  paid  quarterly.

     4.   Term  of  Preferred  Stock  if Applicable; The Preferred Stock will be
          -----------------------------------------  convertible  into  Common
          stock  at  the  end  of 12 months from date of issuance. The number of
          common share that are required to convert into the dollar value of the
          Preferred  Stock  will  be based upon a ten day closing average of the
          price  per  share of that the common stock traded. The ten trading day
          average will be the ten trading days just prior to end of the 12 month
          term.  The Preferred Stock will earn an interest rate of 5% per annum,
          with  interest  paid  quarterly.

Representations of Seller and Buyer; Both Seller and Buyer represent and warrant
- ------------------------------------
that  it  has  taken  all  corporate action and received all corporate authority
required,  including  approval  of  its  Board  of Directors, to enter into this
Agreement.

In  Case of Dispute The laws of the state Nevada will govern in case of dispute.
- -------------------

        IN  WITNESS  WHEREOF, Seller and Buyer have duly executed this Agreement
on  the  date  and  year  first  above  set  forth.

Seller                                              Buyer
Internet  Business's  International,  Inc.          DCM  Enterprises.  Inc.

By:/s/Albert  R.  Reda                              By:/s/  Matt  Sebal
Its:  CEO                                           Its:  President