SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  FORM 10-QSB/A
                                 Amendment No. 1

(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, 2002

                                       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 of               (IRS Employer Identification No.)
incorporation  or  organization)


                   440 Louisiana, Suite 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              119,600               October 1, 2002
<PAGE>

           LATIN AMERICAN TELECOMMUNICATIONS VENTURE COMPANY - LATVCO.
                                      INDEX

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

   Item 1.   Financial Statements

            Condensed Balance Sheets - September 30, 2002 and
            December 31, 2001 ................................................3

            Condensed  Statements of Operations - For the three
            months and nine  months  ended  September  30,  2002
            and 2001 and for the period from inception (July 26, 1990)
            to September 30, 2002.............................................4

            Condensed Statements of Cash Flows - For the nine months ended
            September 30, 2002 and 2001 and for the period from inception
           (July 26, 1990) to September 30, 2002..............................5

            Notes to Condensed Financial Statements...........................6

   Item 2.  Management's Discussion and Analysis of Financial
            Condition and Results of Operations...............................7

PART II - OTHER INFORMATION...................................................7

   Item 6.  Exhibits and Reports on Form 8-K..................................7


SIGNATURES....................................................................8

<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,
                                                    2002              2001
                                                -------------    ---------------

Current Assets
                                                $        0      $           0
       Cash
                                                ------------    ---------------

       Total Current Assets                              0                  0
                                                ------------    ---------------

       Total Assets                             $        0      $           0
                                                ============    ===============

        Liabilities & Stockholders' Equity

       Current Liabilities

       Accounts Payable                         $    10,000     $        2,500
                                                ------------    ---------------

Total Current Liabilities                       $    10,000     $        2,500
                                                ------------    ---------------

Stockholders' Equity
       Authorized shares 119,600
       $0.001 par value; 10,000 outstanding
        at 9-30-02 and at 12-31-01                      120     $          120

Additional paid-in Capital                           11,840             11,840

Deficit accumulated during development stage        (21,960)           (14,460)
                                                ------------    ---------------

Total Stockholders' Equity                      $   (10,000)     $       2,500
                                                ------------    ---------------

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 (July
                                  For the Three Months Ended         For the Nine Months       26, 1990) Through
                                        September 30,                Ended September 30,         September 30,
                                  --------------------------        ---------------------     --------------------

                                      2002            2001           2002           2001                 2002
                                      ----            ----           ----           ----                 ----
<S>                                <C>              <C>           <C>             <C>              <C>


REVENUES                           $       0       $      0       $       0        $     0          $         0

EXPENSES
   Administrative Expenses         $   2,500          7,785       $   7,500        $ 7,785          $    21,960
                                 ---------------  -------------  -------------  -------------- -------------------

   Total Expenses                  $   2,500       $  7,785       $   7,500        $ 7,785          $    21,960
                                 -------------  -------------  -------------  --------------  --------------------

   NET LOSS                        $  (2,500)      $ (7,785)      $  (7,500)       $(7,785)         $   (21,960)
                                 =============  =============  =============  ==============  ====================

   (LOSS) PER SHARE                $   (0.02)      $  (0.78)      $   (0.06)       $  (.78)
                                 =============  =============  =============  ==============

   AVERAGE SHARES OUTSTANDING        119,600        10,000          119,600          10,000
                                 =============  =============  =============  ==============
</TABLE>

                     See Notes to the Financial Statements
                                       2

<PAGE>

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


                                                                                        From Inception
                                                     For the Nine Months Ended         (July 26, 1990)
                                                             Sept. 30                     through
                                                    ----------------------------

                                                        2002            2001         September 30, 2002
                                                    -------------    -----------     --------------------
<S>                                                <C>               <C>             <C>

CASH FLOWS FROM FINANCING ACTIVITIES
Net Income (Loss)
                                                    $    (7,500)     $  (7,785)      $          (21,960)

Adjustments to reconcile net loss to cash used in
operating activities:
Non-cash expenses                                             0              0                    7,785
Increase in accounts payables                             7,500          7,785                   15,175
                                                    -------------    -----------     --------------------

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 year                           $         0     $        0      $                 0
                                                    -------------    -----------     --------------------

Cash at end of year                                 $         0     $        0      $                 0
                                                    =============    ===========     ====================
</TABLE>


           LATIN AMERICAN TELECOMMUNICATIONS VENTURE COMPANY - LATVCO.
                          (A Development Stage Company)
                   Notes to the Condensed Financial Statements
                               September 30, 2002


1.   General

     The interim financial  statements are prepared pursuant to the requirements
for  reporting  on Form 10-QSB.  The  December  31, 2001 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,  2001.  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, 2002 and 2001,
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 of the three or nine month
periods  ended  September 30, 2002 or 2001.  The Company did incur  expenses for
legal and  accounting  services  and filings fees  totaling  $7,785 in the three
months and nine months  ended  September  30,  2001.  For the three months ended
September  30,  2002,  the  Company  incurred  expenses  of $2,500 for legal and
accounting  services  and filing fees and $7,500 for such  expenses for the nine
months ended September 30, 2002.

Material Changes in Financial Condition, Liquidity and Capital Resources

     At  September  30,  2002 the  Company  had no current  assets  and  current
liabilities of $10,000 as compared to no current assets and current  liabilities
of $2,500 at December 31, 2001.

     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


ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

     a)   Exhibits

          None

     b)   Reports on Form 8-K

          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: November 8, 2002            By: /s/ Hank Vanderkam
                                    ---------------------------------
                                      Hank Vanderkam, President
                                      and Principal Executive Officer


Date: November 8, 2002            By:  /s/ Hank Vanderkam
                                     --------------------------------
                                      Hank Vanderkam, Treasurer
                                      Principal Financial Officer


<PAGE>

                                 CERTIFICATIONS

I, Hank Vanderkam, certify that:

1. I have  reviewed  this  quarterly  report  on  Form  10-Q of  Latin  American
Telecommunications Venture Company

2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this quarterly
report;

3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

4. The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

         a) designed such disclosure controls and procedures to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this quarterly report is being prepared;

         b) evaluated the effectiveness of the registrant's disclosure controls
and procedures as of a date within 90 days prior to the filing date of this
quarterly report (the "Evaluation Date"); and

         c) presented in this quarterly report our conclusions about the
effectiveness of the disclosure controls and procedures based on our evaluation
as of the Evaluation Date;

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation, to the registrant's auditors and the audit committee of
registrant's board of directors (or persons performing the equivalent function):

         a) all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data and have identified for the
registrant's auditors any material weaknesses in internal controls; and

         b) any fraud, whether or not material, that involves management or
other employees who have a significant role in the registrant's internal
controls; and

6. The registrant's other certifying officers and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.

Dated: November 8, 2002

By:/s/ Hank Vanderkam
   ---------------------
Hank Vanderkam
Chief Executive Officer

<PAGE>

I, Hank Vanderkam, certify that:

1. I have  reviewed  this  quarterly  report  on  Form  10-Q of  Latin  American
Telecommunications Venture Company

2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this quarterly
report;

3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

4. The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

         a) designed such disclosure controls and procedures to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this quarterly report is being prepared;

         b) evaluated the effectiveness of the registrant's disclosure controls
and procedures as of a date within 90 days prior to the filing date of this
quarterly report (the "Evaluation Date"); and

         c) presented in this quarterly report our conclusions about the
effectiveness of the disclosure controls and procedures based on our evaluation
as of the Evaluation Date;

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation, to the registrant's auditors and the audit committee of
registrant's board of directors (or persons performing the equivalent function):

         a) all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data and have identified for the
registrant's auditors any material weaknesses in internal controls; and

         b) any fraud, whether or not material, that involves management or
other employees who have a significant role in the registrant's internal
controls; and

6. The registrant's other certifying officers and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.

Dated: November 8, 2002

By:/s/ Hank Vanderkam
  ------------------------
Hank Vanderkam
Chief Financial Officer

<PAGE>

Item 4. Evaluation of Disclosure Controls and Procedures

         (a) Evaluation of disclosure controls and procedures. Our chief
executive officer and our chief financial officer, after evaluating the
effectiveness of the Company's "disclosure controls and procedures" (as defined
in the Securities Exchange Act of 1934 Rules 13a-14(c) and 15-d-14(c)) as of a
date (the "Evaluation Date") within 90 days before the filing date of this
quarterly report, have concluded that as of the Evaluation Date, our disclosure
controls and procedures were adequate and designed to ensure that material
information relating to us and our consolidated subsidiaries would be made known
to them by others within those entities.

         (b) Changes in internal controls. There were no significant changes in
our internal controls or to our knowledge, in other factors that could
significantly affect our disclosure controls and procedures subsequent to the
Evaluation Date.