Inventory Tracking In Sharepoint

I am downloading WSS3.0 with Sp1 now, so your saying it wont straight upgrade? So how do i migrate WSS 2.0 to WSS 3.0?

As you have a 'bastardized' version of WSS 2.0 (CompanyWeb), there is no 'official upgrade path, directly to WSS 3.0'.  While I've done it, it was hardly fun.
How much time do you have invested in CompanyWeb?  Could you not simply create a new WSS 3.0 install, new URL to it, etc. and 'link' to the old site until such time as you migrate the content you still want to keep (as often, some of the stuff is dormant).
There are ways to upgrade, painful as it is, and often with 'legacy' issues and I don't know to what extent you have data in the old site. But if your CompanyWeb is effectively a shell, I'd just 'leave it behind' and start fresh with a new WSS 3.0 install - you'll be happier and live longer. :)

Sounds good, the current company web is very basic as i am still learning it.

Any chance of walking me through changing to WSS3.0?

Thanks

Here's how you  might upgrade (http://blog.brainlitter.com/archive/2008/10/28/how-i-upgraded-companyweb-wss-2-0-to-wss-3-0.aspx) but I don't recommend it.
Instead, install WSS 3.0, create a new site collection and link back, where necessary, to your old companyweb for various content that you might need or don't yet have time to reallocate in the new site.  Here's a list of 'migration/list moving techniques' I've been compiling if you are going to bring stuff across stuff 'as you go':  http://blog.brainlitter.com/archive/2009/04/04/sharepoint-list-migration-approaches.aspx

I wasnt the one who setup the server to begin with so unfortunatly i have no idea how to actually load a new companyweb into the system.

WSS3.0 is installed.

Thanks again,

Just upgraded WSS2.0 to 3.0 and works great!