SECURITIES
AND EXCHANGE COMMISSION


Washington,
D.C. 20549





FORM
10-Q


(Mark
One)





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





For the
quarterly period ended February 28, 2009





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 incorporation or organization)
                
                (IRS
      Employer Identification
No.)





1981 Marcus Avenue No. C
129, Lake Success N.Y. 11042


(Address
of principal executive offices)





(516)
488-4444


(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 xNo  ̈





Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act):





Yes  ̈No x





Class
                
                Shares Outstanding
                
                DateCommon,
      $.001 par value
                
                33,092,500
                
                April
      20, 2009







LATIN
AMERICAN TELECOMMUNICATIONS VENTURE COMPANY - LATVCO.


INDEX





Page
                      NumberPART
      I - FINANCIAL INFORMATIONITEM
      1. FINANCIAL STATEMENTS
                    3




2




LATIN
AMERICAN TELECOMMUNICATION COMPANY - LATVCO


CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS


FEBRUARY
28, 2009


(UNAUDITED)





TABLE OF
CONTENTS





PAGECONDENSED
      CONSOLIDATED BALANCE SHEETSAS
      OF FEBRUARY 28, 2009 and NOVEMBER 30, 2008
                              4CONDENSED
      CONSOLIDATED STATEMENTS OF INCOMEFOR
      THE THREE MONTHS ENDED FEBRUARY 28, 2008 and
                              5FEBRUARY
      29, 2008CONDENSED
      CONSOLIDATED STATEMENT OF DEFICIENCY IN STOCKHOLDERS'
    EQUITYFOR
      THE THREE MONTHS ENDED FEBRUARY 28, 2009
                              6CONDENSED
      CONSOLIDATED STATEMENTS OF CASH FLOWSFOR
      THE THREE MONTHS ENDED FEBRUARY 28, 2009 and
                              7FEBRUARY
      29, 2008NOTES
      TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                              8 -
      13


3





LATIN
AMERICAN TELECOMMUNICATION COMPANY - LATVCO


CONDENSED
CONSOLIDATED BALANCE SHEETS


(Unaudited)





February 28,
                              
                              
                              November 30,2009
                              
                              
                              2008(Unaudited)ASSETSCurrent
      Assets:Cash
      and cash equivalents
                              
                              $
                              5,630
                              
                              
                              $
                              -Total
      Current Assets
                              
                              
                              5,630
                              
                              
                              
                              -TOTAL
      ASSETS
                              
                              $
                              5,630
                              
                              
                              $
                              -LIABILITIES
      AND STOCKHOLDERS' (DEFICIT)Current
      Liabilities:Loans
      payable - related parties (Note 3)
                              
                              $
                              34,500
                              
                              
                              $
                              54,500Accounts
      payable and accrued expenses
                              
                              
                              59,949
                              
                              
                              
                              47,672Total
      Current Liabilities
                              
                              
                              94,449
                              
                              
                              
                              102,172Commitments
      and contingenciesStockholders'
      Equity (Deficit) (Note 4)Common
      stock
                              
                              
                              33,093
                              
                              
                              
                              33,093Paid-in
      capital
                              
                              
                              702,367
                              
                              
                              
                              702,367Accumulated
      deficit
                              
                              
                              (824,279
                              )
                              
                              
                              (837,632
                              )Total
      Deficiency in Stockholders' Equity
                              
                              
                              (88,819
                              )
                              
                              
                              (102,172
                              )TOTAL
      LIABILITIES AND DEFICIENCY IN STOCKHOLDERS' EQUITY
                              
                              $
                              5,630
                              
                              
                              $
                              -





The
accompanying notes are an integral part of these unaudited condensed
consolidated financial statements.


4





LATIN
AMERICAN TELECOMMUNICATION COMPANY - LATVCO


CONDENSED
CONSOLIDATED STATEMENTS OF INCOME


FOR THE
THREE MONTHS ENDED FEBRUARY 28, 2009 AND FEBRUARY 29, 2008


(Unaudited)





February 28,
                          
                          
                          February 29,2009
                          
                          
                          2008Net
      sales
                          
                          $
                          33,839
                          
                          
                          $
                          17,065Cost
      of Goods Sold
                          
                          
                          -
                          
                          
                          
                          6,997Gross
      Profit
                          
                          
                          33,839
                          
                          
                          
                          10,068Operating
      expenses:Media
      advertising
                          
                          
                          -
                          
                          
                          
                          3,137Selling,
      general and administrative expenses
                          
                          
                          19,709
                          
                          
                          
                          36,303Total
      operating expenses
                          
                          
                          19,709
                          
                          
                          
                          39,440Income
      (loss) from operations
                          
                          
                          14,130
                          
                          
                          
                          (29,372
                          )Other
      expenses:Interest
      expense
                          
                          
                          (777
                          )
                          
                          
                          (5,625
                          )Total
      other expenses
                          
                          
                          (777
                          )
                          
                          
                          (5,625
                          )Net
      income (loss) before provision for income tax
                          
                          
                          13,353
                          
                          
                          
                          (34,997
                          )Provisions
      from income tax
                          
                          
                          -
                          
                          
                          
                          -Net Income (Loss)
                          
                          $
                          13,353
                          
                          
                          $
                          (34,997
                          )Net
      Income (Loss) Per Common Share (basic and diluted)
                          
                          $
                          0.0004
                          
                          
                          $
                          (0.0010
                          )Weighted
      average of common shares outstanding
                          
                          
                          33,092,500
                          
                          
                          
                          34,300,000





The
accompanying notes are an integral part of these unaudited condensed
consolidated financial statements.


5


LATIN
AMERICAN TELECOMMUNICATION COMPANY - LATVCO


CONDENSED
CONSOLIDATED STATEMENTS OF DEFICIENCY IN STOCKHOLDERS' EQUITY


FOR THE
THREE MONTHS ENDED FEBRUARY 28, 2009





Common Stock
                
                
                AdditionalNumber of
                
                
                
                
                
                Paid in
                
                
                AccumulatedShares
                
                
                Amount
                
                
                Capital
                
                
                Deficit
                
                
                TotalBalance
      at December 1, 2008
                
                
                33,092,500
                
                
                $
                33,093
                
                
                $
                702,367
                
                
                $
                (837,632
                )
                
                $
                (102,172
                )Net
      Income
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                13,353
                
                
                
                13,353Balance
      at February 28, 2009
                
                
                33,092,500
                
                
                $
                33,093
                
                
                $
                702,367
                
                
                $
                (824,279
                )
                
                $
                (88,819
                )


The
accompanying notes are an integral part of these unaudited condensed
consolidated financial statements.




6





LATIN
AMERICAN TELECOMMUNICATION COMPANY - LATVCO


CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS


FOR THE
THREE MONTHS ENDED FEBRUARY 28, 2009 AND FEBRUARY 29, 2008


(Unaudited)




February
      28,
                
                
                February
      29,2009
                
                
                2008Cash
      Flows From Operating Activities:Net
      income (loss)
                
                $
                13,353
                
                
                $
                (34,998
                )Adjustments
      to reconcile net income (loss) to net cash used in operating
      activities:Changes
      in operating assets and liabilities:Decrease
      in accounts receivable
                
                
                -
                
                
                
                1,387Decrease
      in inventory
                
                
                -
                
                
                
                6,997Increase
      (decrease) in accounts payable and accrued expenses
                
                
                12,277
                
                
                
                (5,389
                )Cash
      Provided by (Used in) Operating Activities
                
                
                25,630
                
                
                
                (32,003
                )Cash
      Flows From Investing Activities:Repayment
      of note receivable
                
                
                -
                
                
                
                30,000Cash
      Used In Investing Activities
                
                
                -
                
                
                
                30,000Cash
      Flows From Financing Activities:Repayment
      of loans payable - related parties
                
                
                (20,000
                )
                
                
                (14,526
                )Proceeds
      from loans payable - related parties
                
                
                -
                
                
                
                25,625Cash
      Provided By (Used In) Financing Activities
                
                
                (20,000
                )
                
                
                11,099Increase
      In Cash And Cash Equivalents
                
                
                5,630
                
                
                
                9,096Cash
      and cash equivalents: beginning of period
                
                
                -
                
                
                
                8,530Cash
      and cash equivalents: end of period
                
                $
                5,630
                
                
                $
                17,626Supplemental
      Disclosure of Cash Flow Information:Cash
      paid during the period for interest
                
                $
                -
                
                
                $
                11,584Cash
      paid during the period for taxes
                
                $
                -
                
                
                $
                -Supplemental
      Disclosure of Noncash Transactions:Repayment
      of loan payable - related parties with treasury stock
                
                $
                -
                
                
                $
                146,736Retirement
      of treasury stock
                
                $
                -
                
                
                $
                16,370





The
accompanying notes are an integral part of these unaudited condensed
consolidated financial statements.


7




LATIN
AMERICAN TELECOMMUNICATION VENTURE COMPANY – LATVCO


NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


FOR
THE THREE MONTHS ENDED FEBRUARY 28, 2009 AND


FEBRUARY
29, 2008


(UNAUDITED)


NOTE
1.  SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES





Nature of
Business:





Latin
American Telecommunications Venture Company - LATVCO (The “Company” or “LATVCO”)
is incorporated under the laws of the state of Nevada. The Company through its
wholly owned subsidiary, Avallon 7, Inc. (“Avallon”) designs, develops, imports
and distributes health and beauty care products to internet and mass market
retailers, general merchandisers and directly to consumers through direct
response marketing campaigns.





Basis of
Presentation:





The
accompanying interim financial information, as of February 28, 2009, for the
three month periods ended February 28, 2009 and February 28, 2008 has been
prepared without audit, pursuant to the rules and regulations of the SEC.
Certain information and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted accounting principles
have been condensed or omitted pursuant to such rules and regulations. The
company believes that the disclosures made are adequate to provide for fair
presentation. These financial statements should be read in conjunction with the
company’s 2008 Financial Statements and the notes thereto, included in the
company's 2008 Form 10-K.





In the
opinion of management, all adjustments (which include normal recurring
adjustments) necessary to present a fair statement of financial position as of
February 28, 2009 and results of operations and cash flows for the three months
ended February 28, 2009 and February 29, 2008 have been made. The results of
operations for the three months ended February 28, 2009, are not necessarily
indicative of the operating results for the full fiscal year or any future
periods.





The
condensed consolidated financial statements include the accounts of LATVCO and
its fully-owned subsidiary, Avallon. All significant inter-company transactions
and balances have been eliminated in consolidation.





Revenue
Recognition:





For
revenue from product sales, the Company recognizes revenue in accordance with
Staff Accounting Bulletin No. 104, Revenue Recognition (“SAB104”), which
superseded Staff Accounting Bulletin No. 101, Revenue Recognition in Financial
Statements (“SAB101”).  SAB 101 requires that four basic criteria must
be met before revenue can be recognized: (1) persuasive evidence of an
arrangement exists; (2) delivery has occurred; (3) the selling price is fixed
and determinable; and (4) collectibility is reasonably
assured.  Determination of criteria (3) and (4) are based on
managements’ judgments regarding the fixed nature of the selling prices of the
products delivered and the collectability of those
amounts.  Provisions for discounts and rebates to customers, estimated
returns and allowances, and other adjustments are provided for in the same
period the related sales are recorded.  The Company defers any revenue
for which the product was not delivered or is subject to refund until such time
that the Company and the customer jointly determine that the product has been
delivered or no refund will be required.


8


LATIN
AMERICAN TELECOMMUNICATION VENTURE COMPANY – LATVCO


NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


FOR
THE THREE MONTHS ENDED FEBRUARY 28, 2009 AND


FEBRUARY
29, 2008


(UNAUDITED)





NOTE
1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -
Continued




SAB 104
incorporates Emerging Issues Task Force 00-21 (“EITF 00-21”),
Multiple-deliverable Revenue Arrangements.  EITF 00-21 addresses
accounting for arrangements that may involve the delivery or performance of
multiple products, services and/or rights to use assets.  The effect
of implementing EITF 00-21 on the Company’s financial position and results of
operations was not significant





Allowance
for Doubtful Accounts:





The
Company maintains an allowance for doubtful accounts equal to the estimated
uncollectible amounts. The company’s estimate is based on historical collection
experience and review of the current status of the accounts
receivable.





Use of
Estimates:





The
preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect certain reported amounts and disclosures accordingly. Actual results
could differ from these estimates.





Cash
Equivalents:





For
purposes of the Statement of Cash Flows, the Company considers all highly liquid
debt instrument purchases with a maturity time of three months or less to be
cash equivalents.





Income
Taxes:





The
Company accounts for income taxes using the liability method under which
deferred tax assets and liabilities are determined based upon the differences
between financial statements carrying amounts and the tax basis of existing
assets and liabilities. During the periods ended February 28, 2009 and February
29, 2008 there were no material differences that required deferred tax asset or
liability.


9


LATIN
AMERICAN TELECOMMUNICATION VENTURE COMPANY – LATVCO


NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


FOR
THE THREE MONTHS ENDED FEBRUARY 28, 2009 AND


FEBRUARY
29, 2008


(UNAUDITED)





NOTE
1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -
Continued





Advertising
Costs:





The
Company expenses advertising costs as incurred according to SOP
93-7.


Inventories:




Inventories
are stated at the lower of cost or market using first in, first out (FIFO)
method of valuation.





Research
and Development:





The
company accounts for research and development costs in accordance with the
Financial Accounting Standard Board’s Statement of Financial Standard No. 2
(“SFAS 2”), “Accounting for Research and Development Costs”. Under SAFS 2 all
research and development costs must be charged to expenses as incurred.
Accordingly, internal research and development costs are expenses as incurred.
Third-party research and development costs are expensed when the contracted work
has been performed or as milestone results have been achieved. Company-sponsored
research and development costs related to both present and future products are
expensed in the period incurred.





Earnings
per share:





The
Company presents basic and diluted earnings (loss) per common share pursuant to
the provisions of Statement of Financial Accounting Standards No. 128, “Earnings
per Share” (“SFAS 128”), and certain other financial accounting pronouncements.
Basic earnings (loss) per common share are calculated by dividing net income
(loss) by the weighted average number of common shares outstanding during each
period. The calculation of diluted earnings (loss) per common share is similar
to that of basic earnings (loss) per common share, except that the denominator
is increased to include the number of additional common shares that would have
been outstanding if all potentially dilutive common shares, such as those
issuable upon the exercise of warrants, were issued during the
period.





Recently
Issued Accounting Pronouncements:





SFAS No.
162, The Hierarchy of Generally Accepted Accounting Principles





In May
2008, the FASB issued SFAS No. 162 “The Hierarchy of Generally Accepted
Accounting Principles”. The new standard is intended to improve financial
reporting by identifying a consistent framework, or hierarchy, for selecting
accounting principles to be used in preparing financial statements that are
presented in conformity with U.S. generally accepted accounting principles
(GAAP) for nongovernmental entities. Prior to the issuance of SFAS 162, GAAP
hierarchy was defined in the American Institute of Certified Public Accountants
(AICPA) Statement on Auditing Standards (SAS) No. 69, The Meaning of Present
Fairly in Conformity With Generally Accepted Accounting
Principles.


10


LATIN
AMERICAN TELECOMMUNICATION VENTURE COMPANY – LATVCO


NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


FOR
THE THREE MONTHS ENDED FEBRUARY 28, 2009 AND


FEBRUARY
29, 2008


(UNAUDITED)





NOTE
1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -
Continued





SFAS 162
is effective 60 days following the SEC’s approval of the Public Company
Accounting Oversight Board Auditing amendments to AU Section 411, The Meaning of
Present fairly in Conformity with Generally Accepted Accounting Principles. The
Company is currently evaluating the impact adoption of SFAS 162 may have on the
financial statements if any.





SFAS No.
161, Disclosures about Derivative Instruments





In March
2008, the Financial Accounting Standards Board (FASB) issued FASB Statement No.
161, Disclosures about Derivative Instruments and Hedging Activities. The
new standard is intended to improve financial reporting about derivative
instruments and hedging activities by requiring enhanced disclosures to enable
investors to better understand their effects on an entity’s financial position,
financial performance, and cash flows. FASB Statement No. 161 is effective for
financial statements issued for fiscal years and interim periods beginning after
November 15, 2008, with early application encouraged. The company does not
expect adoption of this standard will have a material impact on its financial
position, operation or cash flow.





SFAS No.
160, Noncontrolling Interests in Consolidated Financial Statements





In
December 2007, FASB issued SFAS No. 160, Noncontrolling Interests in
Consolidated Financial Statements, an amendment of ARB 51, which changes the
accounting and reporting for minority interests. Minority interests will be
recharacterized as noncontrolling interests and will be reported as a component
of equity separate from the parent’s equity, and purchases or sales of equity
interests that do not result in a change in control will be accounted for as
equity transactions. In addition, net income attributable to the noncontrolling
interest will be included in consolidated net income on the face of the income
statement and, upon a loss of control, the interest sold, as well as any
interest retained, will be recorded at fair value with any gain or loss
recognized in earnings. SFAS No. 160 is effective for annual periods
beginning after December 15, 2008. The company does not expect adoption of this
standard will have a material impact on its financial position, operation or
cash flow.


11


LATIN
AMERICAN TELECOMMUNICATION VENTURE COMPANY – LATVCO


NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


FOR
THE THREE MONTHS ENDED FEBRUARY 28, 2009 AND


FEBRUARY
29, 2008


(UNAUDITED)





NOTE
2. INVENTORY





Inventory
is stated at the lower of cost or market using first in, first out (FIFO) method
of valuation. At February
28, 2009 components of inventories comprise of the
following:





Finished
      goods
                    
                    $
                    21,900Less:
      write downs
                    
                    
                    (21,900
                    )Total
                    
                    $
                    -





NOTE
3. LOANS PAYABLE – RELATED PARTIES





Loans
payable at February 28, 2009 and February 29, 2008, represents unsecured demands
loans to related parties. Interest on the loans accrues at a rate of 7% per
annum.





NOTE
4.   STOCKHOLDERS’ EQUITY





The
Company is authorized to issue 99,000,000, $0.001 par value, common shares.
There were 33,092,500 shares issued and outstanding at February 28, 2009. The
holders of the Company’s common shares have no cumulative voting rights or
preemptive rights.





NOTE
5.  INCOME TAX





The
Company has adopted Financial Accounting Standards No. 109, which requires the
recognition of deferred tax liabilities and assets for the expected future tax
consequences of events that have been included in the financial statements or
tax returns. Under this method, deferred tax liabilities and assets are
determined based on the difference between financial statements and tax basis of
assets and liabilities using enacted tax rates in effect for the year in which
the differences are expected to reverse.  Temporary differences
between taxable income reported for financial reporting purposes and income tax
purposes are insignificant.





Management
estimates that at February 28, 2009, The company has available for federal
income tax purposes, a net operating loss carry forward of approximately
$813,000, beginning to expire in the year 2023, that may be used to offset
future taxable income. The company has provided a valuation reserve against the
full amount of the net operating loss benefit, since in the opinion of
management based upon the limited earning history of the company; it is more
likely than not that the benefit may not be realized. Components of deferred tax
assets as of February 28, 2009 are as follows:





Net
      Operating loss carry forward
                  
                  $
                  813,000Valuation
      allowance
                  
                  
                  (813,000
                  )Net
      deferred tax assets
                  
                  $
                  -




12


LATIN
AMERICAN TELECOMMUNICATION VENTURE COMPANY – LATVCO


NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


FOR
THE THREE MONTHS ENDED FEBRUARY 28, 2009 AND


FEBRUARY
29, 2008


(UNAUDITED)





NOTE
6. CONCENTRATION OF RISK





The
Company maintains cash in deposit accounts in federally insured banks. At times,
the balance in the accounts may be in excess of federally insured limits.




’




NOTE
7.  GOING CONCERN





The
accompanying statements have been prepared on a going concern basis, which
contemplates the realization of assets and the satisfaction of liabilities in
the normal course of business. As shown in the accompanying financial statements
as of February 28, 2009 the Company has a $88,819 working capital deficit. This
factor and the fact that the company has very limited sources of income, among
others, may indicate that the Company will be unable to continue as a going
concern for a reasonable period of time.




The Company's existence is dependent
upon management's ability to develop profitable operations and resolve its
liquidity problems. Management anticipates the Company will be able to attract a
strategic acquirer to improve its liquidity through additional equity investment
inthe Company. The accompanying financial statements
do not include any adjustments that might result shouldthe Companybe unable to continue as a going
concern. In order to improvethe Company's liquidity,the Companyis seeking additional working capital
or a strategic acquirer. There can be no assurancethe Companywill be successful in its
efforts.


13


ITEM
2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS





Material
Changes in Result of Operations





Since our
acquisition of Avallon 7, Inc. in April 2007, our operations have been focused
on development and execution of the business of Avallon 7.





Avallon 7
was created in August 2006 to market and sell health and beauty care products,
both branded and private label, to consumers. We believe that the market for
health and beauty care products offers opportunities for new and unique
products, with their efficacy backed by scientific clinical work and
before-and-after testimonials. We are positioning our business to fill the
demand for these types of product by using an integrated direct response and
retail marketing model. Management seeks to identify new innovative health and
beauty care products, negotiate exclusive distribution rights, and use proven
direct response marketing tools such as television infomercials, print
advertising and e-commerce to bring the products to market.





Our core
competency and focus is selling and marketing strategies for health and beauty
care products. Our initial focus was the identification of suitable products,
negotiation of acceptable distribution and fulfillment agreements and
development of a marketing strategy for those products.  To that end,
we entered into two separate exclusive distribution agreement pursuant to which
were granted exclusive territorial marketing rights for the product lines of two
manufacturers of health and beauty care products.




In
February 2007, we began marketing our first product by purchasing national media
airtime to broadcast a short form television infomercial that was produced
specifically for the product. Management found the initial results to be
promising and planned to expand the frequency of the infomercial
broadcasts.





Despite
the initial favorable marketing results enjoyed, both of our initial
distribution agreements have been terminated and, during 2008 and 2009, we
focused on selling the remaining inventory of products held.  All
unsold inventory has been written off.





At
February 28, 2009, we were actively seeking opportunities to distribute health
and beauty care products that meet our criteria with a view to rolling out a
direct marketing program to both U.S. markets and international
markets.





Revenues





Revenues
for the three months ended February 28, 2009 increased by $16,774 or 98% to
$33,839 from $17,065 for the corresponding period of the prior
year.  Revenues for the three months ended February 28, 2009 consisted
of a sale of our remaining inventory of our Inversion product to a
distributor.  Revenues for the three months ended February 29, 2008
consisted of a mix of product sales to consumers and distributors.





Cost of
Sales





Cost of
sales for the three months ended February 28, 2009 decreased by $6,997 or 100%
to $0 from $6,997 for the corresponding period of the prior year.  In
the year ended November 30, 2008, we wrote off our inventory, therefore the
entire amount of our sale of our Inversion product in the three months
ended February 28, 2009 is  recognized as gross profit.  For
the three months ended February 29, 2008, we realized a 59% gross profit
percentage, which was typical for the mix of products sold to consumers and
distributors.





Media
Advertising





Media
advertising for the three months ended February 28, 2009 decreased by $3,137 or
100% to $0 from $3,137 for the corresponding period of the prior
year.  The decreases resulted principally from the lack of capital to
fund an advertising budget and lack of product to advertise.


14


Other
Selling, General and Administrative Expense





Other
selling, general and administrative expense for the three months ended February
28, 2009 decreased by $16,594 or 46% to $19,709 from $36,303 for the three
months ended February 29, 2008.  Other selling, general and
administrative expenses decreased in connection with the reduction in media
advertising and management’s efforts to conserve working capital.





As a
result of the foregoing, the Company earned net income from operations of
$14,130 for the three months ended February 28, 2009 as compared to a net loss
from operations of $29,372 for the three months ended February 29,
2008.





Other
Expense





For the
three months ended February 28, 2009, the Company incurred interest expense on
notes to related parties of $777 and $5,625, respectively.  The
interest bearing balances of borrowings from related parties were lower during
the three months ended February 28, 2009 than balances outstanding during the
three months ended February 29, 2008.





Income
Taxes





Because
of net losses in prior periods, no income taxes were accrued as of February 28,
2009.  Because of  the net loss in the period ended February
29, 2008, no taxes were accrued as of February 29, 2008.





Net
Income





Based on
the foregoing, the Company earned net income of $13,353 for the three months
ended February 28, 2009 compared to a net loss of $34,997 for the corresponding
period of the prior year.





Liquidity
and Capital Resources





As of
February 28, 2009, the Company had cash and cash equivalents of $5,630 and a
deficit in working capital of $88,819.  This compares with cash and
cash equivalents of $0 and a deficit in working capital of $102,172 as of
November 30, 2008.





Cash
provided by operating activities totaled $25,630 for the three months ended
February 28, 2009 compared to $32,003 of cash used in operating activities for
the corresponding period of the prior year.  The funds provided in the
current period consist of the net income of $13,353 and a $12,277 increase in
accounts payable and accrued expenses.  Our cash flow used in
operations in the prior period is primarily attributable to the net loss of
$34,998.





We had no
investing activities in the three months ended February 28,
2009.  Cash flows provided by investing activities totaled $30,000 for
the three months ended February 28, 2009, all from the repayment of a note
receivable.





Cash
flows used in financing activities totaled $20,000 for the three months ended
February 28, 2009, consisting of a repayment of borrowings under loans payable
to related parties.  For the corresponding period of the prior year,
the Company’s financing activities provided $11,099, which consisted of net
borrowings on the loans payable to related parties.





Inflation





In the
opinion of management, inflation will not have an impact on the Company’s
financial condition and results of its operations.





Off-Balance
Sheet Arrangements





The
Company does not maintain off-balance sheet arrangements nor does it participate
in any non-exchange traded contracts requiring fair value accounting
treatment.


15


ITEM
3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISKS





The
Company does not own or trade any financial instruments about which disclosure
of quantitative and qualitative market risks are required to be
disclosed.





ITEM
4.  CONTROLS AND PROCEDURES





Disclosure
controls and procedures are controls and other procedures that are designed to
ensure that information required to be disclosed by us in the reports that we
file or submit under the Exchange Act is recorded, processed, summarized and
reported, within the time periods specified in the Securities and Exchange
Commission’s rules and forms. Disclosure controls and procedures include,
without limitation, controls and procedures designed to ensure that information
required to be disclosed by us in the reports that we file under the Exchange
Act is accumulated and communicated to our management, including our principal
executive and financial officers, as appropriate to allow timely decisions
regarding required disclosure.





Evaluation
of Disclosure Controls and Procedures





As of the
end of the period covered by this Quarterly Report, we carried out an
evaluation, under the supervision and with the participation of our Chief
Executive Officer (CEO) and Chief Financial Officer (CFO), of our disclosure
controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under
the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)).  Based on that  evaluation, our CEO and CFO
concluded, as of the end of such period,  our disclosure controls and
procedures were effective in ensuring that the information required to be filed
or submitted under the Exchange Act is recorded, processed, summarized and
reported as specified in the Securities and Exchange Commission's rules and
forms, and accumulated and communicated to our management, including our CEO and
CFO, as appropriate to allow timely decisions regarding required
disclosure.  .




Changes
in Internal Control over Financial Reporting





There
were no changes in internal controls over financial reporting that occurred
during the period covered by this report that have affected, or are reasonably
likely to effect, our internal control over financial reporting.





PART
II - OTHER INFORMATION





ITEM
1.  LEGAL PROCEDINGS





None





ITEM
1A. RISK FACTORS





Not
applicable.





ITEM
2.  UNREGISTERED SALE OF EQUITY SECURITIES AND USE OF
PROCEEDS





None





ITEM
3.  DEFAULTS UPON SENIOR SECURITIES





None





ITEM
4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS





None





ITEM
5.  OTHER INFORMATION





None


16


ITEM
      6.
            EXHIBITS





a)
            Exhibits





31.1
                Certification
      of Chief Executive Officer pursuant to Section 302, of the
      Sarbanes-Oxley
      Act of 2002.


31.2
            Certification
      of Chief Financial Officer pursuant to Section 302, of the
      Sarbanes-Oxley Act of 2002.


32.1
            Certification
      of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as
      adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
      2002.


32.2
            Certification
      of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as
      adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
      2002.





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 TELECOMMUNICATIONSVENTURE
      COMPANY - LATVCO.Date:
      April 20, 2009
              By:
              /s/ David BakhshiDavid
      BakhshiPrincipal
      Executive Officer and Principal Financial
  Officer


17