-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Szwo7Ww9MupN4INcA5LeLoEh50o4i5stJaChI3QfffgCoHw5+7m8ab6e6H/VfNfT wJMuXK1RYlE23C2rWY3JOA== 0001016295-97-000117.txt : 19970912 0001016295-97-000117.hdr.sgml : 19970912 ACCESSION NUMBER: 0001016295-97-000117 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19961231 FILED AS OF DATE: 19970909 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: VENTURE WORLD INC CENTRAL INDEX KEY: 0000826683 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] IRS NUMBER: 112936371 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: SEC FILE NUMBER: 033-19139-NY FILM NUMBER: 97677296 BUSINESS ADDRESS: STREET 1: 136 E. NINTH ST STREET 2: C/O ALAN WEISBERGER, PRES CITY: LAKEWOOD STATE: NJ ZIP: 08701 BUSINESS PHONE: 2013671620 MAIL ADDRESS: STREET 1: 136 E. NINTH ST STREET 2: SUITE 700 CITY: LAKEWOOD STATE: NJ ZIP: 08701 FORMER COMPANY: FORMER CONFORMED NAME: WORLD VENTURES LTD DATE OF NAME CHANGE: 19880929 10-K/A 1 YEAR END FILING UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. FORM 10-K/A [ X ] ANNUAL REPORT PURSUANT OT SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 1996 Commission File No. 33-19139-NY [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . VENTURE WORLD, LTD. (Exact name of Registrant as specified in its charter) Delaware 11-2936371 (State or other jurisdiction of (IRS Employer incorporation or organization) Identification No.) 8 East Broadway, Suite 735, Salt Lake City, Utah 84111 (Address and zip code of principal executive offices) Registrant's telephone number, including area code: (801) 363-3555 Securities registered pursuant to Section 12(b) of the Act: NONE Securities registered pursuant to Section 12(g) of the Act: NONE Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports, and (2) has been subject to such filing requirements for the past 90 days. [ ] Yes [X] No Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of Registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [ ] As of December 31, 1996 it is unclear as to the aggregate market value of the voting stock held by non-affiliates of the Registrant. This is due to the low or almost non-existing trading of the Registrant's Securities. As of December 31, 1996 the number of shares outstanding of the Registrant's Common Stock was 50,000,000. Documents incorporated by reference: Not applicable 1 - ------------------------------------------------------------------------------- PART I - ------------------------------------------------------------------------------- Item 1. Business. The Registrant was formed in May, 1987 to seek, investigate and acquire an interest in business opportunities. In March, 1989 it raised $250,000 (approximately $185,000 net after expenses and commissions) through a "blind-pool" offering. On March 4, 1996, Exchange Place Capital Partners, exercised an option to purchase 28,550,000 shares of Venture World LTD, Inc. for $30,000. This was paid directly to Alan Weisberger (of New Jersey) and Moshe Milstein (of New York) in full. A new Board of Directors was appointed by Alan Weisberger and Moshe Milstein, and was approved by Exchange Place Capital Partners. Thereafter Weisenberger and Milstein resigned as officers and directors of the Company. (See "Management") The Registrant is seeking a business opportunity, but to date has not participated in any business opportunities. There is no assurance that the Company will be successful in finding any business opportunity to merge with or acquire. (See "Managements't Discission and Analysis of Financial Condition") Item 2. Properties. The Company currently operates from the office of Exchange Capital Partners and pays no rent or expenses. Item 3. Legal Proceedings. None Item 4. Submission of matters to a vote of Security Holders. None - not applicable - ------------------------------------------------------------------------------- PART II - ------------------------------------------------------------------------------- Item 5. Market price for Registrant's Common Equity and Related Stockholder Matters. During the year ended December 31, 1996 there appeared to be little or no trading in the stock of the Company. As of February 5, 1996, the Company had 64 shareholders of record. The Company has not declared any cash dividends on its Common Stock since inception and its Board of Directors has no present intention of declaring any dividends. For the foreseeable future, the Company intends to retain all earnings, if any, for use in the development and expansion of its business. 2 Item 6. Years Ended December 31, 1992 1993 1994 1995 1996 ------- ------ ------- ------- ------- Operations Statement Data Revenues 7,341 2,122 2 2 2 Income (loss) (56,408) (28,329) (2,445) (2,561) (1,961) Income (loss) per share (.0011) (.0006) (.00005) (.00005) (.00004) Balance Sheet Data Total assets 34,307 2,767 1,422 211 0 Long-term debt 0 0 0 0 0 Item 7. VENTURE WORLD, LTD. (A Development Stage Company) MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Financial Condition Total stockholders' equity increased $4,389 from $(5,689) at December 31, 1995 to $(1,300) at December 31, 1996. The increase was, principally, due to capital contributions. Liquidity and Capital Resources The Company currently has no significant assets and is in the process of looking for business opportunities to merge with or acquire. At minimum, the Company will need to raise additional capital through private funding to meet the financial needs of being a reporting company. There is no guarantee that the Company will be successful in obtaining necessary funding to develop any business opportunities. Results of Operations The Company sustained losses of $1,961 and $2,561 for the years ended December 31,1996 and December 31, 1995 respectively. Revenues of $2 and $2 for the two periods represented interest earned on temporary cash investments and loans. Expenses of $1,963 and $2,563 for the periods consisted of professional fees, depreciation, and other administrative expenses incurred while the Company was seeking out business ventures which in the opinion of management, could provide a profit to the Company. 3 Item 8. Financial Statements. The financial statements and the schedules listed in Item 14 are filed with and as part of this report. Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures. During the Company's fiscal year there were no changes in auditors or disagreements with the Company's auditor. - ------------------------------------------------------------------------------- PART III - ------------------------------------------------------------------------------- Item 10. Directors and Executive Officers of the Registrant. The following information is furnished with respect to the Company's Board of Directors and Executive Officers. There are no family relationship between or among any of the Company's Directors or Executive Officers. Directors and Executive Officers Director Name Age Since Position with the Company - ------------- ---- ---------- ------------------------------ Mike Labertew 34 3/96 President, CEO, and Director Lisa Valario 28 3/96 Vice President, Secretary/Treasurer, and Director Michael Labertew, President and a Director since March, 1996. Mr. Labertew has been an attorney in Salt Lake City since 1989. He graduated from the University of Iowa in 1986 with a B.A. in English, and received his law degree from the University of Utah College of Law in 1986. After working for several law firms, Mr. Labertew opened his own practice in 1992 with emphasis in commercial litigation and criminal defense. In addition to his law practice, he serves in officer and director positions of various non-profit and privately-held corporations. Lisa A. Valerio, Vice President, Secretary/Treasurer, and Director since March, 1996. Ms. Valerio has worked for Phillips 66 Company, a major petroleum refiner and distributor. She is currently in charge of rail transportation for Phillips' product shipments. Item 11. Executive Compensation Compensation of Executive Officers and Directors No officer or director of the Company has received any compensation for the past three fiscal years. Employment Agreements and Other Compensation Arrangements There is currently no agreements with members of management as to employment or compensation. Compensation of Non-Employee Directors There is currently no compensation for non-employment directors. Item 12. Security Ownership of Certain Beneficial Owners and Management. The following table sets forth as of December 31, 1996, the number of shares of the Company's common stock owned by persons who owned of record, or was known to own beneficially, more than 5% of the outstanding shares of the Company's common stock, sets forth the number of shares of the Company's current directors and officers, and sets forth the number of shares owned by all of the Company's directors and officers as a group: The beneficial owners listed have sole voting and investment power with respect to the shares unless otherwise indicated. Amount and Nature Name and Address of Beneficial Percent of of Beneficial Owner Ownership Class - ----------------------------- ------------------- ----------- Exchange Place Partners 28,550,000 57.10 10 Exchange Place, Suite 309 Salt Lake City, Utah 84111 Michael Labertew 0 0.00 8 East Broadway, Suite 735 Salt Lake City, Utah 84111 Lisa A. Valerio 0 0.00 8 East Broadway, Suite 735 Salt Lake City, Utah 84111 Officers and Directors as a Group (2) 0 0.00 Item 13. Certain Relationships and Related Transactions During the past year the Registrant has not entered into any transactions with management which are to be reported under this Item. - ------------------------------------------------------------------------------- PART IV - ------------------------------------------------------------------------------- Item 14. Financial Statements, Financial Statement Schedules, Exhibits, and Reports on Form 8-K (a)(1)The following financial statements of the Company have been filed as part of this report (see Item 8 "Financial Statements and Supplementary Data"): Independent Auditors' Report Balance Sheets as of December 31, 1996 and 1995. Statement of Operations for the years ended December 31, 1996 and December 31, 1995 Statement of Stockholders' Equity for this period Statement of Cash Flows for the years ended December 31, 1996 and December 31, 1995 Statement of Operations for the period. Statement of Cash Flows for the period. Notes to Financial Statements. (2) Schedules are omitted because of the absence of conditions under which they are required or because the required information is given in the financial statements or notes thereto. (3) Exhibits Exhibit No. Description - --------- ---------------------------------------------------------------------- 3.01 Certificate of Incorporation (Incorporated by reference to Registration Statement No. 33-19139-NY.) 3.02 By-laws (Incorporated by reference to Registration Statement No. 33-19139-NY.) (b) The Registrant filed no current reports on Form 8-K during the last quarter of the fiscal year ended December 31, 1996. 4 SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Venture World, Ltd. By: /s/ Mike Labertew ---------------------- Mike Labertew Dated: June 5, 1997 Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated. SIGNATURE TITLE DATE /s/ Mike Labertew President and Director (Principal Executive Officer) June 5, 1997 /s/ Lisa Valario Vice President, Treasurer and Director (Principal Financial and Financial Officer) June 5, 1997 5 - ------------------------------------------------------------------------------- INDEX TO FINANCIAL STATEMENTS - ------------------------------------------------------------------------------- Report of Independent Certified Public Accountant............................F-1 Financial Statements: Balance Sheets - December 31, 1996 and December 31, 1995................F-2 Statements of Operations - For the years ended December 31, 1996 and December 31, 1995...................................................F-3 Statement of Stockholders' Equity - For the period from (inception) May 6, 1987 to December 31, 1996.....................................F-4 Statement of Cash Flows - For the years ended December 31, 1996 and December 31, 1995...................................................F-5 Statements of Operations - For the period from (inception) May 6, 1987 to December 31, 1996................................................F-6 Statements of Cash Flows - For the period from (inception) May 6, 1987 to December 31, 1996................................................F-7 Notes to Financial Statements...........................................F-8 6 JOHN SVARC 1064 FIFTY-FITH STREET CERTIFIED PUBLIC ACCOUNTANT BROOKLYN, NEW YORK 11219 (718) 851-8617 Facsimile (718) 851-8619 INDEPENDENT AUDITOR'S REPORT To the Board of Directors and Stockholders of Venture World, Ltd. I have audited the accompanying balance sheets of Venture World, Ltd. (a development stage company) as of December 31, 1996 and 1995 and the related statements of operations, changes in stockholders' equity, and cash flows for the years then ended. These financial statements are the responsibility of the company's management. My responsibility is to express an opinion on these financial statements based on my audit. I conducted my audit in accordance with generally accepted auditing standards. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. I believe that my audit provides a reasonable basis for my opinion. In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Venture World, Ltd. at December 31, 1996 and 1995, and the results of its operations and cash flows for the years then ended in conformity with generally accepted accounting principles. /s/ John Svarc Certified Public Accountant April 4, 1997 F-1 VENTURE WORLD, LTD. (A Development Stage Company) BALANCE SHEETS
ASSETS December 31, December 31, 1996 1995 --------------- -------------- CURRENT ASSETS: Cash $ 0 $ 77 OFFICE EQUIPMENT, net of accumulated depreciation of $4,495 and $4,361 (Note 1) 0 134 --------------- -------------- TOTAL ASSETS $ 0 $ 211 =============== ============== LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accrued expenses $ 1,300 $ 5,900 -------------- ------------- STOCKHOLDERS' EQUITY: Common Stock, $.0001 par value 300,000,000 shares authorized 50,000,000 shares issued and outstanding 5,000 5,000 Paid-in capital 214,843 208,493 Deficit accumulated during the development stage (221,143) (219,182) -------------- ------------- Total Stockholders' equity (1,300) (5,689) -------------- ------------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 0 $ 211 ============== =============
F-2 See accompanying notes to financial statements. VENTURE WORLD, LTD. (A Development Stage Company) STATEMENTS OF OPERATIONS
Year ended Year ended December 31, December 31, 1996 1995 ------------------ ------------------ REVENUES: Interest income $ 2 $ 2 ------------------ ------------------ EXPENSES: Professional fees 1,500 1,771 Depreciation and amortization (Note 1) 134 642 Other 329 150 ------------------ ------------------ Total 1,963 2,563 ------------------ ------------------ NET LOSS $ (1,961) $ 2,561) ================== ================== LOSS PER COMMON SHARE $ (.00004) $ (.00005) WEIGHTED AVERAGE NUMBER OF SHARES 50,000,000 50,000,000 ================== ==================
F-3 See accompanying notes to financial statements. VENTURE WORLD, LTD. (A Development Stage Company) STATEMENT OF STOCKHOLDERS' EQUITY FOR THE PERIOD MAY 6, 1987 (INCEPTION) TO DECEMBER 31, 1996
Common Accumulated Stock Deficit during Purchase Common Par Paid-in Development Warrants Shares Value Capital Stage ------------- ------------- ----------------- ------------- ---------------------- Shares issued to officers and others 37,500,000 $ 3,750 $ 24,145 $ 0 Public offering 25,000 units at $10.00 per unit (Note 2) 12,500,000 12,500,000 1,250 248,750 Offering costs (64,402) Net (loss) for May 6, 1987 to December 31, 1990 (72,877) ------------- ------------- ----------------- ------------- ---------------------- Balance, December 31, 1990 12,500,000 50,000,000 5,000 208,493 Net (loss) year ended December 31, 1991 (56,562) ------------- ------------- ----------------- ------------- ---------------------- Balance December 31, 1991 12,500,000 50,000,000 5,000 208,493 (129,439) Net (loss) year ended December 31, 1992 (56,408) ------------- ------------- ----------------- ------------- ---------------------- Balance December 31, 1992 12,500,000 50,000,000 5,000 208,493 (185,847) Net (loss) year ended December 31, 1993 (28,329) ------------- ------------- ----------------- ------------- ---------------------- Balance December 31, 1993 12,500,000 50,000,000 5,000 208,493 (214,176) Net (loss) year ended December 31, 1994 (2,445) ------------- ------------- ----------------- ------------- ---------------------- Balance December 31, 1994 12,500,000 50,000,000 5,000 208,493 (216,621) Net (loss) year ended December 31, 1995 (2,561) ------------- ------------- ----------------- ------------- ---------------------- Balance December 31, 1995 12,500,000 50,000,000 5,000 208,493 (219,182) Warrants expired (Note 2) (12,500,000) Capital contributions 6,350 Net (loss) for year ended December 31, 1996 (1,961) ------------- ------------- ----------------- ------------- ---------------------- Balance December 31, 1996 0 50,000,000 $ 5,000 $ 214,843 $ (221,143) ============= ============= ================= ============= ======================
F-4 See accompanying notes to financial statements. VENTURE WORLD, LTD (A Development Stage Company) STATEMENT OF CASH FLOWS
Year ended Year ended December 31, December 31, 1996 1995 ------------------ ------------------ CASH FLOWS FROM OPERATING ACTIVITIES: Net (loss) $ (1,961) $ (2,561) Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 134 642 (Decrease) increase in accounts payable and accrued expenses (4,600) 1,350 ------------------ ------------------ Total (6,427) (569) ------------------- ------------------ CASH FLOWS FROM INVESTING ACTIVITIES: Decrease in notes receivable - officers 0 571 ------------------ ------------------ Total 0 571 ------------------ ------------------ CASH FLOWS FROM FINANCE ACTIVITIES: Paid-in capital contributions 6,350 0 ------------------ ------------------ Total 6,350 0 ------------------ ------------------ NET INCREASE (DECREASE) IN CASH (77) 2 CASH - beginning of period 77 75 ------------------ ------------------ CASH - end of period $ 0 $ 77 ================== ==================
F-5 See accompanying notes to financial statements. VENTURE WORLD, LTD (A Development Stage Company) STATEMENTS OF OPERATIONS FOR THE PERIOD MAY 6, 1987 (INCEPTION) TO DECEMBER 31, 1996
REVENUES: Interest income (Note 3) $ 42,392 ------------------ EXPENSES: Consulting fees (Note 3) 133,247 Secretarial services 13,141 Rent and leasing expense (Note 5) 44,812 Telephone 15,127 Professional fees 19,341 Depreciation and amortization (Note 1) 5,430 Underwriter's fees 10,000 Other 22,437 ------------------ Total 263,535 ------------------ NET LOSS - deficit accumulated during the development stage $ (221,143) ================== LOSS PER COMMON SHARE $ (.0044) WEIGHTED AVERAGE NUMBER OF SHARES 50,000,000 ==================
F-6 See accompanying notes to financial statements. VENTURE WORLD, LTD (A Development Stage Company) STATEMENT OF CASH FLOWS FOR THE PERIOD MAY 6, 1987 (INCEPTION) TO DECEMBER 31, 1996
CASH FLOWS FROM OPERATING ACTIVITIES: Net (loss) - deficit accumulated during the development stage $ (221,143) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 5,195 Increase in accounts payable and accrued expenses 1,300 Increase in orgainzation costs (700) ------------------ Total (215,348) ------------------ CASH FLOWS FROM INVESTING ACTIVITIES: Payment for purchase of equipment (4,495) ------------------ Total (4,495) ------------------ CASH FLOWS FROM FINANCING ACTIVITIES: Paid-in capital contributions 6,350 Proceeds from initial issue of stock 27,895 Proceeds from public offering of 25,000 units of stock and warrants 250,000 Less: public offering costs (64,402) ------------------ Total 219,843 ------------------ NET INCREASE IN CASH 0 Cash - beginning of period 0 ------------------ Cash - end of period $ 0 ==================
F-7 See accompanying notes to financial statements. VENTURE WORLD, LTD. (A Development Stage Company) NOTES TO FINANCIAL STATEMENTS l. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Venture World, Ltd. (the Company) is considered to be in the development stage as defined in Statement of Financial Accounting Standards No. 7, and was incorporated on May 6, 1987 for the purpose of seeking out business opportunities, including acquisitions that the Board of Directors in their discretion, believe to be good opportunities. Since inception, the Company has been primarily engaged in the procurement of capital, and has been pursuing its objective of seeking business opportunities. There can be no assurance that the Company will be able to acquire a favorable business opportunity. Even if the Company becomes engaged in a new business opportunity, there can be no assurance that the Company will be able to generate revenues or profits therefrom. Office equipment is stated at cost less accumulated depreciation. Depreciation is provided on a straight-line basis over periods of five and seven years. Fully depreciated equipment is written off. Maintenance and repairs are charged to expense as incurred. Organization costs relating to the costs of incorporation are amortized on a straight line basis over five years. Loss per share is computed using the weighted average number of shares outstanding. The presentation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts of assets and liabilities at the date of the financial statements and the amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. 2. INITIAL PUBLIC OFFERING: On March 31, 1989 the Company completed a public offering of 25,000 units at $10.00 per unit or $250,000 total. Each unit consisted of 500 shares of common stock, par value $.0001 per share, and 500 common stock purchase warrants per class (Classes A, B, and C) that provided for the purchase of one additional share of common stock per warrant that were exercisable as follows: Price Description Class A $ .04 Exercisable to December 31, 1995 Class B $ 06 Exercisable to December 31, 1995 Class C $ .07 Exercisable to December 31, 1995 No warrants were exercised. F-8 VENTURE WORLD, LTD. (A Development Stage Company) NOTES TO FINANCIAL STATEMENTS (continued) 3. RELATED PARTY AND OTHER TRANSACTIONS: a. Loans receivable - officers represented net advances by the Company to its President and Vice-President and included interest at a rate of 9% a year. The Vice-President assumed a loan outstanding from an unrelated party (see below). Loans receivable - other consisted of loans made by the Company to an unrelated party and included interest at a rate of 10% a year. Another loan to an unrelated party at the same interest rate which totalled $9,971 at January 1, 1991 was assumed by the Vice-President (see above). b. In January, 1991, the Board of Directors resolved to incur consulting fees to September 30, 1993 as follows: The President and Vice President of the company - $15,600 a year each and an unrelated investment banking firm (see above) - $450 a week. c. The Company paid office rent to its President in 1991 (see Note 5). 4. STOCK OPTION PLAN: The Company has adopted an incentive stock option plan under which options to purchase a total of 7,500,000 shares of common stock may be issued. Options issued under the plan can be granted at exercise prices equal to 100% of the fair market value of the common stock on the date of grant. At December 31, 1990, 7,500,000 shares of common stock have been reserved for issuance upon exercise of options under the plan and no options have been granted. 5. LEASES: a. At the beginning of 1991, the Company relocated its offices to New Jersey where it rented space under an oral lease with its President at $250 a month. The lease ended in October, 1991. b. The Company leased an automobile for approximately $430.00 a month under a 4 year lease agreement which began in May 1989. The agreement also included an initial lease prepayment of $2,806 which was reflected as "Deferred leasing expense", net of amortization over the 4 year lease period. F-9 VENTURE WORLD, LTD. (A Development Stage Company) NOTES TO FINANCIAL STATEMENTS (continued) 6. CONFLICTS OF INTEREST: Certain conflicts of interest may arise when the Company finds a business opportunity due to the fact that the officers and directors each have other business interests that may also wish to invest in that business opportunity. There are no assurances that such conflicts will be resolved in the Company's favor. F-10 EX-27 2 FDS -- DECEMBER 31, 1996
5 This schedule contains summary financial information extracted from Venture World, LTD. December 31, 1996 financial statements and is qualified in its entirety by reference to such financial statements. 0000826683 Venture World Inc. YEAR DEC-31-1996 DEC-31-1996 0 0 0 0 0 0 0 0 0 1,300 0 0 0 5,000 (6,300) 0 0 2 0 0 1,963 0 0 (1,961) 0 (1,961) 0 0 0 (1,961) .00 .00
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