SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark One)

[X]  QUARTERLY  REPORT  PURSUANT  TO SECTION 13 OR 15(d) OF THE  SECURITIES
     EXCHANGE ACT OF 1934

                For the quarterly period ended September 30, 1998

                                       OR

[] TRANSITION REPORT UNDER SECTION 13 OF 15(d) OF THE EXCHANGE ACT OF 1934

          From the transition period from ____________ to ____________.

                       Commission File Number 33-55254-40



                        LATIN AMERICAN TELECOMMUNICATIONS
                            VENTURE COMPANY - LATVCO.
        -----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)
 
           Nevada                                          87-0485311
 -------------------------------                --------------------------------
(State or other jurisdiction                   (IRS Employer Identification No.)
of incorporation or organization)          


                     440 Louisiana, #475, Houston, TX 77002
                    ----------------------------------------
                    (Address of principal executive offices)

                                 (713) 547-8900
                            -------------------------
                           (Issuer's telephone number)

                                       N/A
               --------------------------------------------------
              (Former name, former address and former fiscal year,
                         if changed since last report)

     Indicate  by check  mark  whether  the  registrant  (1) filed  all  reports
required to be filed by Section 13 or 15(d) of the  Exchange Act during the past
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
                                         ---   ----

       Class                    Shares Outstanding                     Date
      -------                   ------------------                    ------
Common, $.001 par value              1,000,000                   October 1, 1998


<PAGE>


           LATIN AMERICAN TELECOMMUNICATIONS VENTURE COMPANY - LATVCO.

                                      INDEX

                                                                           Page
                                                                          Number
                                                                         -------
PART I - FINANCIAL INFORMATION

  Item 1.Financial Statements

         Condensed Balance Sheets - September 30, 1998 and 
          December 31, 1997 ..........................................      1

         Condensed Statements of Operations - For the three months
          and nine months ended September 30, 1998 and 1997 and for 
          the period from inception (July 26, 1990) to September 30, 
          1998........................................................      2

         Condensed Statements of Cash Flows - For the nine months 
          ended September 30, 1998 and 1997 and for the period from 
          inception (July 26, 1990) to September 30, 1998 ............      3

         Notes to Condensed Financial Statements......................      4

  Item 2.Management's Discussion and Analysis of Financial Condition 
          and Results of Operations...................................      5

PART II - OTHER INFORMATION...........................................      5

SIGNATURES............................................................      6


<PAGE>


                         PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

           LATIN AMERICAN TELECOMMUNICATIONS VENTURE COMPANY - LATVCO.
                          (A Development Stage Company)
                                 Balance Sheets

                                     Assets

                                                   September 30,    December 31,
                                                       1998            1997    
Current Assets
     Cash                                          $      0          $      0 
                                                     -------           -------
        Total Current Assets                              0                 0
                                                     -------           -------
Total Assets                                       $      0          $      0
                                                     =======           =======

                        Liabilities & Stockholder Equity

Current Liabilities
     Accounts Payable                              $      0          $      0
                                                     -------           -------
Total Current Liabilities                          $      0          $      0
                                                     -------           -------

Stockholders Equity
     Authorized shares 25,000,000
     $0.001 par value; 1,000,000
     outstanding at 9-30-98 and
     at 12-31-97                                      1,000             1,000
 
     Deficit accumulated during
     development stage                               (1,000)           (1,000)
                                                     -------           -------

Total Stockholders Equity                          $      0          $      0
                                                     -------           -------
Total Liabilities & Stockholders Equity            $      0          $      0
                                                     =======           =======


                      See Notes to the Financial Statements



                                       1
<PAGE>



           LATIN AMERICAN TELECOMMUNICATIONS VENTURE COMPANY - LATVCO.
                          (A Development Stage Company)
                             Statement of Operations
<TABLE>
                                                                                                 From
                                                                                               Inception

                                          For the Three                                     (July 26, 1990)
                                          Months Ended           For the Nine Months            Through
                                          September 30,          Ended September 30,         September 30,
                                       -----------------        ---------------------       ----------------
                                       1998         1997        1998             1997             1998
                                       ----         ----        ----             ----             ----
<S>                                   <C>         <C>        <C>               <C>            <C>   

REVENUES                             $    0       $    0      $    0          $    0          $      0
                                      ------       ------      ------          ------           ------
EXPENSES
     Administration Expenses              0            0           0               0             1,000
         Total Expenses                   0            0           0               0             1,000
                                      ------       ------      ------          ------           ------
NET (LOSS)                           $   (0)      $   (0)     $   (0)         $   (0)         $ (1,000)
                                      ======       ======      ======          ======           ======
(LOSS) PER SHARE                     $ (.00)      $ (.00)     $ (.00)         $ (.00)         $   (.01)
                                      ======       ======      ======          ======           ======
AVERAGE SHARES
OUTSTANDING                       1,000,000    1,000,000   1,000,000       1,000,000         1,000,000
                                  =========    =========   =========       =========         =========

</TABLE>


                     See Notes to the Financial Statements



                                       2
<PAGE>



           LATIN AMERICAN TELECOMMUNICATIONS VENTURE COMPANY - LATVCO.
                          (A Development Stage Company)
                            Statements of Cash Flows

                               For the Nine Months Ended       Date of Inception
                                      September 30,           (July 26, 1990) to
                                 1998            1997         September 30, 1998
                               --------        --------      -------------------
CASH FLOWS FROM FINANCING
ACTIVITIES
Net Income (Loss)                $   0         $    0            $ (1,000)
Adjustments to reconcile net loss
to cash used in operating
activities:                          0              0                   0
                                 ------        ------             --------
Net Cash Used By Operating
Activities                      $    0        $     0            $ (1,000)


CASH FLOWS FROM FINANCING
ACTIVITIES
Proceeds from issuance of
common stock                         0              0               1,000
                                 ------        ------             --------
Net cash provided from financing
activities                      $    0         $    0               1,000
                                 ------        ------             --------
Net Increase (Decrease) in Cash $    0         $    0            $      0

Cash at Beginning of Period          0              0                   0
                                 ------        ------             --------
Cash at End of Period           $    0         $    0            $      0
                                 ======        ======             ========


                                       3
<PAGE>


           LATIN AMERICAN TELECOMMUNICATIONS VENTURE COMPANY - LATVCO.
                          (A Development Stage Company)
                   Notes to the Condensed Financial Statements
                               September 30, 1998


1.   General

     The interim financial  statements are prepared pursuant to the requirements
for  reporting  on Form 10-QSB.  The  December  31, 1997 balance  sheet data was
derived from audited  financial  statements but does not include all disclosures
required by generally  accepted  accounting  principles.  The interim  financial
statements and notes thereto  should be read in  conjunction  with the financial
statements  and notes  included in the Company's  Form 10-KSB for the year ended
December  31,  1997.  In  the  opinion  of  management,  the  interim  financial
statements  reflect all adjustments of a normal recurring nature necessary for a
fair statement of the results for the interim periods presented.



                                       4
<PAGE>


ITEM 2. MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

Material Changes in Result of Operations

     During the three months and nine months ended  September 30, 1998 and 1997,
the Company had no operations other than the search for a business to acquire or
with which to combine.

     The Company  reported no revenues  for either the three month or nine month
periods ended  September  30, 1998 or 1997 and the Company  incurred no expenses
for either the  three-month  or nine-month  periods ended  September 30, 1998 or
1997.

Material Changes in Financial Condition, Liquidity and Capital Resources

     At  September  30, 1998 the  Company  had no current  assets and no current
liabilities  as  compared  to no current  assets and no current  liabilities  at
December 31, 1997.

     Although the Company has no liquidity,  it believes that it will be able to
find a suitable Company with which to merge.



                           PART II - OTHER INFORMATION


              NONE





                                       5
<PAGE>

                                   SIGNATURES

     In accordance with the requirements of the Exchange Act, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.


                                             LATIN AMERICAN TELECOMMUNICATIONS 
                                             VENTURE COMPANY - LATVCO.



Date:October 7, 1998                        By: /s/ Craig Barton
                                                --------------------------------
                                                Craig Barton, President
                                                Principal Executive Officer and
                                                Principal Financial Officer



Date:October 12, 1998                        By: /s/ Hank Vanderkam
                                                --------------------------------
                                                 Hank Vanderkam, Treasurer
                                                 Principal Financial Officer