SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  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 event reported):      APRIL 29, 2002



                  SINGLE SOURCE FINANCIAL SERVICES CORPORATION
             (Exact name of registrant as specified in its charter)



          NEW YORK                  000-33229             16-1576984
      (State or other              (Commission         (I.R.S. Employer
jurisdiction of incorporation)     File Number)       Identification No.)


                   121 NORTH SAN VICENTE BOULEVARD
                      BEVERLY HILLS, CALIFORNIA           90211
              (Address of principal executive offices)  (zip code)


                                 (888) 262-1600
              (Registrant's telephone number, including area code)


          (Former name or former address, if changed since last report.)


<PAGE>

ITEM  1.          CHANGES  IN  CONTROL  OF  REGISTRANT

     Not  applicable.

ITEM  2.          ACQUISITION  OR  DISPOSITION  OF  ASSETS

     Not  applicable.

ITEM  3.          BANKRUPTCY  OR  RECEIVERSHIP

     Not  applicable.

ITEM  4.          CHANGES  IN  REGISTRANT'S  CERTIFYING  ACCOUNTANT

     Not  applicable.

ITEM  5.          OTHER  EVENTS

     On  November 29, 2001, Single Source Financial Services Corporation ("SSFS"
or  the  "Company") signed a binding letter of intent (the "LOI") with MBBRAMAR,
INC., a California corporation ("MBB") which included an irrevocable option (the
"Option")  to  acquire from MBB all of MBB's shares of common stock of CardReady
International,  Inc.,  a California corporation ("CardReady"), owned at the time
of  exercise  of  the Option (the "CardReady Shares").  Currently, MBB owns over
96%  of  the  outstanding  common  stock  of  CardReady.

     On  April  29, 2002, SSFS, MBB, and CardReady entered into a First Restated
Letter  of  Intent (the  "Restated LOI") which modified the terms and conditions
of  the  original  LOI.

     Under  the  terms  of the Restated LOI, the Company may, at any time during
the  18  months  following the date of execution (the "Option Period"), and upon
thirty  (30) days written notice (unless extended because of the requirements of
the Securities and Exchange Commission or the corporate laws of the State of New
York,  including  the  need  to obtain shareholder approval), acquire all of the
CardReady Shares from MBB.  The purchase price to be paid by the Company for the
CardReady Shares will be four million (4,000,000) shares of common stock of SSFS
(the  "SSFS  Shares").  As additional consideration for the grant of the Option,
SSFS  agreed  to  loan to CardReady the sum of $500,000, payable in traunches as
agreed  between  the  parties,  bearing  no  interest and repayable in a balloon
payment  at  the  end  of  three  (3)  years  from the date of the Restated LOI.

     The  Restated  LOI  contains certain unwinding provisions.  For a period of
three (3) years from the closing of the acquisition, if the closing bid price of
SSFS common stock as quoted on its primary exchange is less than $1.00 per share
for  thirty (30) consecutive trading days, or if SSFS common stock is not listed
for  trading  on  any  public  exchange  for a period of thirty (30) consecutive
trading  days,  or  if  the  trading  volume of SSFS common stock on its primary
exchange  is  less  than  250,000  shares  per  month  for three (3) consecutive
full-calendar  months, then MBB shall have the right, but not the obligation, to
purchase the CardReady Shares back from SSFS for consideration equal to the SSFS
Shares  (as  adjusted for any stock splits or recapitalizations).  Additionally,
for  a  period  of  three  (3)  years  from  the  closing of the acquisition, if
CardReady  fails  for  a  period  of  thirty  (30)  consecutive business days to
maintain  a  relationship  with a back-end processor and a bank, then SSFS shall
have  the  right,  but not the obligation, to "put" the CardReady Shares back to
MBB for consideration equal to the SSFS Shares (as adjusted for any stock splits
or  recapitalizations).

                                        2
<PAGE>

     MBB  is owned and controlled by Brandon Becker, who is a former director of
SSFS,  and  Martin  Becker  and Sid Rosenblatt, each of which is the spouse of a
director  of  SSFS.

     Also  on  April  29,  2002,  SSFS  exercised its rights under the Option to
purchase  all of MBB's interest in CardReady in exchange for the issuance of the
SSFS  Shares.  The transaction is anticipated to close within one hundred twenty
(120)  days.

ITEM  6.          RESIGNATIONS  OF  DIRECTORS  AND  EXECUTIVE  OFFICERS

     Not  applicable.

ITEM  7.          FINANCIAL  STATEMENTS

     Not  applicable.

ITEM  8.          CHANGE  IN  FISCAL  YEAR

     Not  applicable.

EXHIBITS

     10.1  Restated Letter of  Intent dated April 29, 2002 by and between Single
           Source Financial Services Corporation, MBBRAMAR, INC., and  CardReady
           International,  Inc.

     10.2  Notice  of  Exercise  of  Option  dated  April  29,  2002.

                                        3
<PAGE>
                                   SIGNATURES

        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.

Dated:  May  7, 2002               Single Source Financial Services Corporation,
                                   a New  York  corporation,  by  its  President

                                   /s/ Arnold F. Sock
                                   ________________________________
                                   Arnold  F.  Sock,  President

                                        4
<PAGE>
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{"company-data": {"conformed-name": "SINGLE SOURCE FINANCIAL SERVICES CORP", "cik": "0001128581", "assigned-sic": "6141", "irs-number": "161576984"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-33229", "film-number": "02638161"}, "business-address": {"street1": "10780 SANTA MONICA BLVD", "street2": "SUITE 240", "city": "LOS ANGELES", "state": "CA", "zip": "90025"}, "mail-address": {"street1": "10780 SANTA MONICA BLVD", "street2": "SUITE 240", "city": "LOS ANGELES", "state": "CA", "zip": "90025"}}
SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  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 event reported):      APRIL 29, 2002

                  SINGLE SOURCE FINANCIAL SERVICES CORPORATION
             (Exact name of registrant as specified in its charter)

          NEW YORK                  000-33229             16-1576984
      (State or other              (Commission         (I.R.S. Employer
jurisdiction of incorporation)     File Number)       Identification No.)

                   121 NORTH SAN VICENTE BOULEVARD
                      BEVERLY HILLS, CALIFORNIA           90211
              (Address of principal executive offices)  (zip code)

                                 (888) 262-1600
              (Registrant's telephone number, including area code)

          (Former name or former address, if changed since last report.)
ITEM  1.          CHANGES  IN  CONTROL  OF  REGISTRANT

     Not  applicable.

ITEM  2.          ACQUISITION  OR  DISPOSITION  OF  ASSETS

     Not  applicable.

ITEM  3.          BANKRUPTCY  OR  RECEIVERSHIP

     Not  applicable.

ITEM  4.          CHANGES  IN  REGISTRANT'S  CERTIFYING  ACCOUNTANT

     Not  applicable.

ITEM  5.          OTHER  EVENTS

     On  November 29, 2001, Single Source Financial Services Corporation ("SSFS"
or  the  "Company") signed a binding letter of intent (the "LOI") with MBBRAMAR,
INC., a California corporation ("MBB") which included an irrevocable option (the
"Option")  to  acquire from MBB all of MBB's shares of common stock of CardReady
International,  Inc.,  a California corporation ("CardReady"), owned at the time
of  exercise  of  the Option (the "CardReady Shares").  Currently, MBB owns over
96%  of  the  outstanding  common  stock  of  CardReady.

     On  April  29, 2002, SSFS, MBB, and CardReady entered into a First Restated
Letter  of  Intent (the  "Restated LOI") which modified the terms and conditions
of  the  original  LOI.

     Under  the  terms  of the Restated LOI, the Company may, at any time during
the  18  months  following the date of execution (the "Option Period"), and upon
thirty  (30) days written notice (unless extended because of the requirements of
the Securities and Exchange Commission or the corporate laws of the State of New
York,  including  the  need  to obtain shareholder approval), acquire all of the
CardReady Shares from MBB.  The purchase price to be paid by the Company for the
CardReady Shares will be four million (4,000,000) shares of common stock of SSFS
(the  "SSFS  Shares").  As additional consideration for the grant of the Option,
SSFS  agreed  to  loan to CardReady the sum of $500,000, payable in traunches as
agreed  between  the  parties,  bearing  no  interest and repayable in a balloon
payment  at  the  end  of  three  (3)  years  from the date of the Restated LOI.

     The  Restated  LOI  contains certain unwinding provisions.  For a period of
three (3) years from the closing of the acquisition, if the closing bid price of
SSFS common stock as quoted on its primary exchange is less than $1.00 per share
for  thirty (30) consecutive trading days, or if SSFS common stock is not listed
for  trading  on  any  public  exchange  for a period of thirty (30) consecutive
trading  days,  or  if  the  trading  volume of SSFS common stock on its primary
exchange  is  less  than  250,000  shares  per  month  for three (3) consecutive
full-calendar  months, then MBB shall have the right, but not the obligation, to
purchase the CardReady Shares back from SSFS for consideration equal to the SSFS
Shares  (as  adjusted for any stock splits or recapitalizations).  Additionally,
for  a  period  of  three  (3)  years  from  the  closing of the acquisition, if
CardReady  fails  for  a  period  of  thirty  (30)  consecutive business days to
maintain  a  relationship  with a back-end processor and a bank, then SSFS shall
have  the  right,  but not the obligation, to "put" the CardReady Shares back to
MBB for consideration equal to the SSFS Shares (as adjusted for any stock splits
or  recapitalizations).

                                        2
MBB  is owned and controlled by Brandon Becker, who is a former director of
SSFS,  and  Martin  Becker  and Sid Rosenblatt, each of which is the spouse of a
director  of  SSFS.

     Also  on  April  29,  2002,  SSFS  exercised its rights under the Option to
purchase  all of MBB's interest in CardReady in exchange for the issuance of the
SSFS  Shares.  The transaction is anticipated to close within one hundred twenty
(120)  days.

ITEM  6.          RESIGNATIONS  OF  DIRECTORS  AND  EXECUTIVE  OFFICERS

     Not  applicable.

ITEM  7.          FINANCIAL  STATEMENTS

     Not  applicable.

ITEM  8.          CHANGE  IN  FISCAL  YEAR

     Not  applicable.

EXHIBITS

     10.1  Restated Letter of  Intent dated April 29, 2002 by and between Single
           Source Financial Services Corporation, MBBRAMAR, INC., and  CardReady
           International,  Inc.

     10.2  Notice  of  Exercise  of  Option  dated  April  29,  2002.

                                        3
SIGNATURES

        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.

Dated:  May  7, 2002               Single Source Financial Services Corporation,
                                   a New  York  corporation,  by  its  President

                                   /s/ Arnold F. Sock
                                   ________________________________
                                   Arnold  F.  Sock,  President

                                        4