**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 February 29, 2008





**OR**





**o**
            **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)
      775-7775


(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 o





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





Yes o No x





Class
            
            Shares
                Outstanding
            
            DateCommon,
                $.001 par value
            
            33,092,500
            
            April
                14, 2008









**LATIN
      AMERICAN TELECOMMUNICATIONS VENTURE COMPANY - LATVCO** **.**


**INDEX**





Page
              NumberPART
                I - FINANCIAL INFORMATIONItem
                1.Financial StatementsCondensed
                Consolidated Balance Sheets – February 29, 2008 (unaudited) and
                November 30, 2007
            3Condensed
                Consolidated Statements of Operations - unaudited - For the three
                months
                ended February 29, 2008 and 2007
            4Condensed
                Consolidated Statements of Cash Flows - unaudited - For the three
                months
                ended February 29, 2008 and 2007
            5Notes
                to unaudited Condensed Financial Statements
            6Item
                2.Management's Discussion and Analysis or Plan of
                Operations
            12Item
                3. Controls and Procedures
            13PART
                II - OTHER INFORMATIONItem
                1. Legal Proceeding
            13Item
                2. Unregistered Sale of Equity Securities and Use of
                Proceeds
            13Item
                3. Defaults Upon Senior Securities
            13Item
                4. Submission of Matters to a Vote of Security Holders
            14Item
                5. Other Information
            14Item
                6.Exhibits
            14SIGNATURES
            14Certifications







LATIN
      AMERICAN TELECOMMUNICATIONS VENTURE COMPANY – LATVCO.


CONDENSED
      CONSOLIDATED BALANCE SHEETS


**February
                  29,2008**
              
              **November
                  30,2007**(unaudited)
              
              (audited)ASSETSCurrent
                  assets:Cash
                  and cash equivalents
              
              $
              17,626
              
              $
              8,530Accounts
                  receivable
              
              
              2,074
              
              
              3,461Inventory
                  (Note 3)
              
              
              28,972
              
              
              35,969Note
                  receivable (Note 4)
              
              
              -
              
              
              30,000Total
                  current assets
              
              
              48,672
              
              
              77,960Total
                  assets
              
              $
              48,672
              
              $
              77,960LIABILITIES
                  AND STOCKHOLDERS' (DEFICIT)Current
                  liabilities:Loans
                  payable - related parties (Note 5)
              
              $
              45,602
              
              $
              181,239Accounts
                  payable and accrued expenses
              
              
              49,447
              
              
              54,836Total
                  current liabilities
              
              
              95,049
              
              
              236,075Commitments
                  and contingencies (Note 8)
              
              
              -
              
              
              -Stockholders'
                  deficit (Note 7):Common
                  stock — $0.001 par value, 99,000,000 shares authorized: 33,092,500
                  and 34,300,000 shares issued outstanding as of February 29, 2008
                  and
                  November 30, 2007, respectively
              
              
              33,093
              
              
              34,300Treasury
                  Stock (0 shares at February 29, 2008 and 12,037,500 shares at November
                  30,
                  2007)
              
              
              -
              
              
              (163,106
              )Paid-in
                  capital
              
              
              702,367
              
              
              717,530Accumulated
                  (deficit)
              
              
              (781,837
              )
              
              (746,839
              )Total
                  stockholders' (deficit)
              
              
              (46,377
              )
              
              (158,115
              )Total
                  liabilities and stockholders' equity (deficit)
              
              $
              48,672
              
              $
              77,960




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


3




LATIN
      AMERICAN TELECOMMUNICATIONS VENTURE COMPANY – LATVCO.


CONDENSED
      CONSOLIDATED STATEMENTS OF LOSSES


FOR
      THE
      THREE MONTHS ENDED FEBRUARY 29, 2008 AND


FEBRUARY
      28, 2007


ThreeMonthsEndedFebruary29,
                  2008
              
              ThreeMonthsEndedFebruary28,
                  2007Net
                  sales
              
              $
              17,065
              
              $
              27,111Cost
                  of sales
              
              
              6,997
              
              
              16,859Gross
                  profit
              
              
              10,068
              
              
              10,252Operating
                  expenses:Media
                  advertising
              
              
              3,137
              
              
              71,859Other
                  selling, general and administrative
              
              
              36,303
              
              
              176,829Total
                  operating expenses
              
              
              39,440
              
              
              248,688Loss
                  from operations
              
              
              (29,372
              )
              
              (238,436
              )Other
                  income (expense):Interest
                  expense
              
              
              (5,625
              )
              
              -Interest
                  income
              
              
              -
              
              
              3,192Total
                  other (expense) income
              
              
              (5,625
              )
              
              3,192Net
                  loss before income taxes
              
              
              (34,998
              )
              
              (235,244
              )Provisions
                  from income tax
              
              
              -
              
              
              -Net
                  loss
              
              $
              (34,998
              )
              $
              (235,244
              )Net
                  loss per common share (basic and diluted)
              
              $
              (0.00
              )
              $
              (0.00
              )Weighted
                  average of common shares outstanding
              
              
              34,300,000
              
              
              34,300,000
              *




*
      Shares
      adjusted as if merger occurred at beginning of period for comparative
      purposes.





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





4





[INSERT
      CASH FLOW RIDER HERE]





LATIN
      AMERICAN TELECOMMUNICATIONS VENTURE COMPANY – LATVCO.


CONDENSED
      CONSOLIDATED UNAUDITED STATEMENTS OF CASH FLOWS


FOR
      THE
      THREE MONTHS ENDED FEBRUARY 29, 2008 AND FEBRUARY 28, 2007




ThreeMonthsEndedFebruary29,
                  2008
              
              ThreeMonthsEndedFebruary28,
                  2007CASH
                  FLOWS FROM OPERATING ACTIVITIES:Net
                  loss
              
              $
              (34,998
              )
              $
              (235,244
              )Adjustments
                  to reconcile net loss to net cash used in operating
                  activities:Interest
                  income debited to note receivable
              
              
              -
              
              
              (2,953
              )INCREASE
                  (DECREASE) IN CASH RESULTING FROM CHANGES IN:Accounts
                  receivable
              
              
              1,387
              
              
              -Inventory
              
              
              6,997
              
              
              28Prepaid
                  expense
              
              
              -
              
              
              (70,300
              )Other
                  current asset
              
              
              -
              
              
              175,000Accounts
                  payable and accrued expenses
              
              
              (5,389
              )
              
              -Cash
                  used in operating activities
              
              
              (32,003
              )
              $
              (133,469
              )CASH
                  FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES:Repayment
                  of note receivable
              
              
              30,000
              
              
              -Purchase
                  of note receivable
              
              
              -
              
              
              (200,000
              )Cash
                  provided by (used in) investing activities
              
              
              30,000
              
              
              (200,000
              )CASH
                  FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES:Repayments
                  on loans payable – related parties
              
              
              (14,526
              )
              
              (159,400
              )Proceeds
                  from loans payable and other increases – related parties
              
              
              25,625Proceeds
                  from issuance of common stock
              
              
              -
              
              
              25,000Cash
                  provided by (used in) financing activities
              
              
              11,099
              
              
              (134,400
              )Increase
                  (decrease) in cash and cash equivalents
              
              
              9,096
              
              
              (467,869
              )Cash
                  and cash equivalents: beginning of period
              
              
              8,530
              
              
              606,152Cash
                  and cash equivalents: end of period
              
              $
              17,626
              
              $
              138,283Supplemental
                  Disclosure of Cash Flow Information:Cash
                  paid during the period for interest
              
              $
              11,584
              
              $
              -Cash
                  paid during the period for taxes
              
              $
              -
              
              $
              -Supplemental
                  Disclosure of Noncash Transactions:Repayment
                  of loan payable – related parties with Treasury Stock
              
              $
              146,736
              
              $
              -Retirement
                  of Treasury Stock
              
              $
              16,370
              
              $
              -




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


5




LATIN
      AMERICAN TELECOMMUNICATIONS VENTURE COMPANY – LATVCO.


NOTES
      TO
      CONDENSED CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS


FOR
      THE
      THREE MONTHS ENDED FEBRUARY 29, 2008 AND FEBRUARY 28, 2007




**Note
              1**
            **Summary
                of Significant Accounting
                Policies**





Business
      and Basis of Presentation


The
      accompanying unaudited condensed consolidated financial statements have been
      prepared in accordance with accounting principles generally accepted in the
      United States of America for interim financial information and with the
      instructions to Form 10-QSB. Accordingly, they do not include all of the
      information and footnotes required by generally accepted accounting principles
      for complete financial statements.




In
      the
      opinion of management, all adjustments (consisting of normal recurring accruals)
      considered necessary for a fair presentation have been included. Accordingly,
      the results from operations for the three-month period ended February 29, 2008
      are not necessarily indicative of the results that may be expected for the
      year
      ended November 30, 2008. The unaudited condensed consolidated financial
      statements should be read in conjunction with the November 30, 2007 financial
      statements and footnotes thereto included in the Company's SEC Form 10-KSB
      filed
      on March 17, 2008.





Latin
      American Telecommunications Venture Company - LATVCO. (the "Company",
      "Registrant" 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. We purchase
      our products from unaffiliated manufacturers most of which are located in
      Europe, South Africa, the People's Republic of China and the United
      States.





The
      consolidated financial statements include the accounts of the Registrant and
      its
      wholly-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 management's judgments regarding the fixed
      nature of the selling prices of the products delivered and the collectibility
      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.




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.





Cash
      and Cash Equivalents


For
      purposes of reporting the statement of cash flows, the Company considers all
      cash accounts, which are not subject to withdrawal restrictions, and all highly
      liquid debt instruments purchased with an original maturity of three months
      or
      less to be cash equivalents.




6




**Note
              1**
            **Summary
                of Significant Accounting Policies
                (continued)**





Allowance
      for Doubtful Accounts


The
      Company maintains an allowance for doubt accounts receivable to reduce amounts
      to their estimated realizable value. In estimating the provision for doubtful
      accounts, the company considers a number of factors including age of the
      accounts receivable, trends and ratios involving the age of the accounts
      receivable and the customer mix of each aging categories.





Concentration
      of Credit Risk


Financial
      instruments and related items, which potentially subject the Company to
      concentrations of credit risk, consist primarily of cash, cash equivalents
      and
      trade receivables. The Company places its cash and temporary cash investments
      with high credit quality institutions. At times, such investments may be in
      excess of the FDIC insurance limit.





Inventories
      / Cost of Goods Sold


The
      Company has adopted a policy to record inventory at the lower of cost or market
      determined by the first-in-first-out method. The elements of cost that comprise
      inventory and cost good sold are FOB shipping point costs, freight and
      destination charges, customs and importation fees and taxes, customer broker
      fees (if any) and other related costs. Warehousing costs are changed to cost
      of
      goods in the period the costs are incurred. The Company provides inventory
      allowances based on estimates of obsolete inventories. Inventories consist
      of
      finished products available for sale to distributors and customers.




Income
      Taxes


The
      Company has adopted Financial Accounting Standards No. 109 ("SFAS 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
      statement or tax returns. Under this method, deferred tax liabilities and assets
      are determined based on the difference between financial statements and the
      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.





Advertising
      Costs


The
      Company follows SOP 93-7 whereby charging the costs of advertising to expenses
      as incurred.





Use
      of
      Accounting Estimates


The
      preparation of financial statements in conformity with generally accepted
      accounting principles requires management to make estimates and assumptions
      that
      affect the reported amounts of certain assets and liabilities and disclosures.
      Accordingly, the actual amounts could differ from those estimates. Any
      adjustments applied to estimate amounts are recognized in the year in which
      such
      adjustments are determined.




Research
      and Development


The
      Company accounts for research and development costs in accordance with the
      Financial Accounting Standards Board's Statement of Financial Accounting
      Standards No. 2 ("SFAS 2"), "Accounting for Research and Development Costs".
      Under SFAS 2, all research and development costs must be charged to expense
      as
      incurred. Accordingly, internal research and development costs are expensed
      as
      incurred. Third-party research and developments 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.




7




**Summary
      of Significant Accounting Policies (continued)**





Earnings
      per Share


The
      Company has reported its earnings per share in accordance with SFAS No. 128,
      "Earnings Per Share." Basic net income per common share is based on the weighted
      average number of shares outstanding during the period. Diluted net income
      per
      common share is based on the weighted average number of shares outstanding
      during the period, including common stock equivalents.




Stock
      options and warrants account for the entire difference between basic average
      common shares outstanding and diluted average common shares outstanding. For
      purposes of computing diluted net income per common share, weighted average
      common share equivalents do not include stock options and warrants with an
      exercise price that exceeds the average fair market value of the Company's
      common stock for the period.




Stock
      Based Compensation


In
      December 2002, the FASB issued SFAS No. 148, “Accounting for Stock-Based
      Compensation-Transition and Disclosure-an amendment of SFAS 123.” This statement
      amended SFAS 123, “Accounting for Stock-Based Compensation,” to provide
      alternative methods of transition for a voluntary charge to the fair value
      based
      method of accounting for stock-based employee compensation. In addition, this
      statement amended the disclosure requirements of SFAS No. 123 to require
      prominent disclosures in both annual and interim financial statements about
      the
      method of accounting for stock-based employee compensation and the effect of
      the
      method used on reported results. The Company has adopted SFAS 123 (R) which
      supersedes APB Opinion No. 25, “Accounting for Stock Issued to Employees” and
      eliminates the intrinsic value method that was provided in SFAS 123 for
      accounting of stock-based compensation to employees. The Company made no
      employee stock-based compensation grants and therefore has no unrecognized
      stock
      compensation related liabilities or expense unvested or vested.




New
      Accounting Pronouncements


In
      September 2006 the Financial Account Standards Board (the "FASB") issued its
      Statement of Financial Accounting Standards 157, Fair Value Measurements. This
      Statement defines fair value, establishes a framework for measuring fair value
      in generally accepted accounting principles (GAAP), and expands disclosures
      about fair value measurements. This Statement applies under other accounting
      pronouncements that require or permit fair value measurements, the Board having
      previously concluded in those accounting pronouncements that fair value is
      the
      relevant measurement attribute. Accordingly, this Statement does not require
      any
      new fair value measurements. However, for some entities, the application of
      this
      Statement will change current practice. FAS 157 effective date is for fiscal
      years beginning after November 15, 2007. The Company does not expect adoption
      of
      this standard will have a material impact on its financial position, operations
      or cash flows.




In
      February 2007, the FASB issued SFAS No. 159, “The Fair Value Option for
      Financial Assets and Financial Liabilities.” SFAS 159 permits entities to choose
      to measure many financial instruments, and certain other items, at fair value.
      SFAS 159 applies to reporting periods beginning after November 15, 2007.
      The adoption of SFAS 159 is not expected to have a material impact on our
      financial condition or results of operations.




In
      December 2007, the FASB issued SFAS No. 160, "Noncontrolling Interest
      in Consolidated Financial Statements, an amendment of ARB No. 51" ("SFAS
      No. 160"), which will change the accounting and reporting for minority
      interests, which will be recharacterized as noncontrolling interests and
      classified as a component of equity within the consolidated balance sheets.
      SFAS
      No. 160 is effective as of the beginning of the first fiscal year beginning
      on
      or after December 15, 2008. Earlier adoption is prohibited and the Company
      is currently evaluating the effect, if any, that the adoption will have on
      its
      financial position, results of operations or cash flows.




8




**Summary
      of Significant Accounting Policies (continued)**




In
      December 2007, the FASB issued SFAS No. 141(R),"Business Combinations"
      ("SFAS No. 141(R)"), which establishes principles and requirements for how
      an acquirer recognizes and measures in its financial statements the identifiable
      assets acquired, the liabilities assumed, and any noncontrolling interest in
      an
      acquiree, including the recognition and measurement of goodwill acquired in
      a
      business combination. SFAS No. 141R is effective as of the beginning of the
      first fiscal year beginning on or after December 15, 2008. Earlier adoption
      is prohibited and the Company is currently evaluating the effect, if any, that
      the adoption will have on its financial position, results of operations or
      cash
      flows.





**Note
              2**
            **Acquisition
                and Capital Structure**




On
      April
      13, 2007, Avallon entered into a Share Exchange Agreement ("the Exchange")
      with
      LATVCO, an inactive publicly registered shell corporation with no significant
      assets or operations. In accordance with SFAS No. 141, Avallon was the acquiring
      entity. While the transaction is accounted for using the purchase method of
      accounting, in substance the Agreement is a recapitalization of the Avallon's
      capital structure.




For
      accounting purposes, Avallon has accounted for the transaction as a reverse
      acquisition and Avallon shall be the surviving entity. From July 1999, until
      the
      date of the Exchange, LATVCO was an inactive entity, with no operations. The
      Company did not recognize goodwill or any intangible assets in connection with
      the transaction. Effective with the Exchange, all previously 100,000,000 shares
      of outstanding common stock owned by Avallon’s shareholders were exchanged for
      an aggregate of 30,000,000 shares of LATVCO's Common Stock. The value of
      LATVCO’s Common Stock that was issued was the historical cost of LATVCO's net
      tangible assets, which did not differ materially from their fair value. In
      addition, LATVCO issued 2,600,000 shares of Common Stock in exchange for
      remaining outstanding shares of Common Stock held by LATVCO Common Stock. In
      connection with the Exchange, LATVCO agreed and cancelled 93,600 shares of
      its
      Common Stock.





The
      accompanying financial statements present the historical financial condition,
      results of operations and cash flows of Avallon prior to the merger with
      LATVCO.




**Note
              3**
            **Inventory**





Inventory
      is stated at the lower of cost or market using first in, first out (FIFO) method
      of valuation. At February 29, 2008, components of inventories comprise of the
      following:




Finished
                goods
            
            $
            174,448Less:
                write down
            
            
            (145,476
            )Total
            
            $
            28,972




**Note
              4**
            **Note
                Receivable**





On
      December 13, 2006, the Company loaned $200,000 to Bennoti, Inc., a privately
      held marketer and seller of specialty beverage products. Interest on the note
      accrues at 7.0% per annum and was payable together with note principal at
      maturity on April 1, 2007. In June 2007, the Company received a $20,000 payment
      for accrued interest and note principal.  Under the terms of a
      February 27, 2008 Settlement Agreement entered into by the Company and Bennoti,
      Inc.,  the Company received a $30,000 cash payment and 12,037,500 in
      shares of the Company’s common stock as full satisfaction of the
      note.




9




**Note
              5**
            **Loans
                Payable - Related Parties**





Loans
      payable at February 29, 2008 represent unsecured loans from three related
      parties that are repayable on demand. Interest on one loan accrues at 16.0%
      and
      interest on two loans 7.0%. On February 26, 2008, the Company made a partial
      repayment of $146,736 against one loan by issuing 10,830,000 shares of Company
      Common Stock from treasury. As of February 29, 2008, the Company owed a total
      of
      $45,602 on the loans, including $583 of accrued interest.





**Note
              6**
            **Stockholders’
                Equity**





The
      Company’s authorized common equity consists of 99,000,000 shares of a single
      class of Common Stock, having a par value of $0.001 per share, of which
      33,092,500 shares are outstanding. The holders of the Company’s Common Stock
      have no cumulative voting rights or preemptive rights.




Under
      the
      terms of a February 27, 2008 Settlement Agreement entered into by the Company
      and Bennoti, Inc. (See Note 4), the Company received 12,037,500 in shares of
      Company Common Stock as a partial repayment of $163,106 against the note shares
      are held in treasury.




On
      February 26, 2008, the Company issued 10,830,000 shares of Company Common Stock
      from treasury as a partial repayment against a related party loan and cancelled
      its remaining 1,207,500 treasury shares. As of February 29, 2008, no shares
      were
      held in treasury.





**Note
              7**
            **Income
                Taxes**





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 statement 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. A
      management estimate that at February 29, 2008, the Company has available for
      federal income tax purposes a net operating loss carry forward of approximately
      $685,000, 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 earnings history of the Company; it is more likely than not that the
      benefits may not be realized. Components of deferred tax assets as of February
      29, 2008 are as follows:




10




Non
      current:


Net
                  operating loss carry forward
              
              $
              721,353Valuation
                  allowance
              
              
              (721,353
              )Net
                  deferred tax asset
              
              
              -




**Note
              8**
            **Commitments
                and Contingencies**





Facility
      leases


The
      Company does not lease or own any property. The Company contracts with a third
      party logistics company for fulfillment services and the use of warehouse space
      in Milford, Connecticut.




Employment
      agreements


The
      Company does not have any employment agreements.




**Note
              9**
            **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, the Company has incurred losses from operations, has a deficit
      in
      stockholders equity of $46,377 and is dependent on loans from related parties
      to
      fund cash used in operations. These factors 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 in the Company. The accompanying financial
      statements do not include any adjustments that might result should the Company
      be unable to continue as a going concern. In order to improve the Company's
      liquidity, the Company is seeking additional working capital or a strategic
      acquirer. There can be no assurance the Company will be successful in its
      efforts.





11


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





**Material
      Changes in Result of Operations**





Our
      primary business is the marketing and sale of health and beauty care products
      to
      consumers, historically, we have used direct response television advertising
      to
      promote our sales, but we have ceased direct response television advertising
      due
      to a lack of capital. The decrease in net sales results from our inability
      to
      run direct response television advertising.





We
      currently have no working capital or access to credit which we need to purchase
      television air time and to purchase products. Our direct response sales
      operation requires that we use cash to purchase (up to two weeks in advance)
      television advertising time to run our infomercials, and to purchase, (up to
      eight weeks in advance) products that we sell. Until such time as we obtain
      sufficient working capital and credit, we do not expect to make purchases or
      generate direct response revenues. We are currently selling inventory to other
      direct marketers and repeat customers in order to generate cash flow and
      continue brand exposure.





Revenues





Revenues
      for the three months ended February 29, 2008 decreased by $10,046 or 37.1%
      to
      $17,065 from $27,111 for the corresponding period of the prior year. Revenues
      decreased principally because of the elimination of expenditures for promotion
      and advertising.





Cost
      of
      Goods Sold





Cost
      of
      goods sold for the three months ended February 29, 2008 decreased by $9,862
      or
      58.5% to $6,997 from $16,859 for the corresponding period of the prior year.
      The
      reduction in inventory is principally attributuable to a reduction in sales
      and
      mix of higher margined goods. Gross margins for the quarterly period ended
      February 29, 2008 were 59% compared to 38% for the corresponding period of
      the
      prior year.





Media
      Advertising





Media
      advertising for the three months ended February 29, 2008 decreased by $68,772
      or
      95.6% to $3,137 from $71,859 for the corresponding period of the prior year.
      This decrease resulted principally from the lack of capital to fund an
      advertising budget.





Selling,
      General & Administrative Expense





Selling,
      general & administrative expense decreased by $140,526 or 79.5% to $36,303
      from $176,829 for the corresponding period of the prior year. The principal
      items which contributed to this decrease were a decrease in commercial
      production of $49,255 in consulting fees of $40,719, in professional fees of
      $9,107, office expenses of $6,920 and sales expenses of $29,688.





As
      a
      result of the foregoing, the Company’s loss from operations decreased from
      $238,436 to $29,372.





Other
      Income (Expense)





For
      the
      three months ended February 29, 2008, the Company incurred interest expense
      of
      $5,625 on a note to a related party. This compares with interest income of
      $3,192 for the corresponding period of the prior year.





Income
      Taxes





Because
      of net losses in both periods, no income taxes were accrued.




12


Net
      Income





Based
      on
      the foregoing, the company incurred a net loss of $34,998 for the three months
      ended February 29, 2008 compared to a net loss of $235,244 for the corresponding
      period of the prior year.





Liquidity
      and Capital Resources





As
      of
      February 29, 2008, the Company had cash equivalents of $17,626 and a deficit
      in
      working capital of $46,377. This compares with cash and cash equivalents of
      $8,530 and a deficit in working capital of $158,115 as of February 29,
      2007.





Cash
      used
      in operating activities totalled $32,239 for the three months ended February
      29,
      2008 compared to $133,469 used in operating activities for the corresponding
      period of the prior year. The funds used in the current period consist of the
      net loss of $35,234 and changes in the current accounts of ($2,995). The funds
      used in the prior period consist of the net loss of $235,244 changes in the
      current accounts of $ 104,728, and interest income debited to a note receivable
      of $(2,953).





Cash
      flows used in investing activities totalled $30,000 for the three months ended
      February 29, 2008, all from the repayment of a note receivable. This compares
      with $200,000 used in investing activities for the corresponding period of
      the
      prior year, all from the receipt of a promissory note for each.





Cash
      flows from financing activities totalled $11,335 for the three months ended
      February 29, 2008, consisting of $5,861 of interest expense added to a
      promissory note and $20,000 from a loan from a related party which was partially
      offset by a $14,526 repayment of a loan payable to a related party. For the
      corresponding period of the prior year the company used $134,400 of funds for
      financing activities consisting of





**ITEM
      3.** **CONTROLS
      AND PROCEDURES**





Based
      on
      their evaluation, as of a date within ninety days of the filing of this Report
      on form 10-QSB, our Chief Executive Officer and Chief Accounting Officer
      concluded that our disclosure controls and procedures (as defined in Rules
      (13a-14 and 15d-14 under the Securities Exchange Act of 1934) are effective.
      There have been no significant changes in internal controls or in other factors
      that could significantly affect these controls subsequent to the date of their
      evaluation.





**PART
      II - OTHER INFORMATION**





**ITEM
      1. LEGAL PROCEDINGS**





On
      or
      about September 28, 2006 Avallon 7, Inc. commenced legal action against Bennoti,
      Inc. in the Supreme Court of the State of New York seeking judgement on the
      unpaid portion of a promissory note from Bennoti, Inc. to Avallon 7, Inc. A
      settlement on this matter was reached on February 27, 2008 whereby Bennoti
      paid
      a portion of the unpaid balance in cash and surrendered 12,037,500 shares in
      Latin American Telecommunications Company. A portion of these shares having
      been
      assigned to third parties in cancellation of other indebtedness.





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





None





**ITEM
      3. DEFAULTS UPON SENIOR SECURITIES**





None




13


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





None





**ITEM
      5. OTHER INFORMATION**





None





**ITEM
      6.**  **EXHIBITS
      AND REPORTS ON FORM 8-K**





a)
            Exhibits





31.1
            Certification
                Pursuant to 18 U.S.C Section 1350, as adopted Pursuant to Section
                302 of
                the Sarbanes-Oxley Act of 2002


32.1
            Certification
                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 TELECOMMUNICATIONS****VENTURE
                  COMPANY - LATVCO.**Date:  April
					14, 2008
              By:
              /s/
                  David BakhshiDavid
                  BakhshiPrincipal
                  Executive Officer and Principal Financial
                  Officer




14