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