U.S.
      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 AUGUST 31,
                2007




OR




o
            TRANSITION
                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
                ACT OF
                1934 FOR THE TRANSITION PERIOD FROM ___________ TO
                ____________.




Commission
      file number 33-55254-40




LATIN
      AMERICAN TELECOMMUNICATIONS VENTURE COMPANY - LATVCO.


(Exact
      name of registrant as specified in its charter)




**Nevada**
            
            **87-0485311**(State
                or jurisdiction of
            
            (IRS
                Employer Identification No.)incorporation
                or organization)





**1981
      Marcus Avenue, Suite C219, Lake Success, New York
      11042**


(Address
      of Principal Executive Offices)


Registrant's
      telephone number: (516) 775-7775




Former
      Fiscal Year End: December 31, 2006




(Former
      name, former address and former fiscal year, if changed since last
      report)




Securities
      registered pursuant to Section 12(b) of the Act: None




Securities
      registered pursuant to Section 12 (g) of the Act:


Preferred
      Stock: No Par Value


Common
      Stock: $ .001 Par Value




Indicate
      by check mark whether the Registrant (1) has filed all reports required to
      be
      filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
      the
      preceding 12 months (or for such shorter period that the Registrant was required
      to file such reports), and (2) been subject to such filing requirements for
      the
      past 90 days. Yes x No o .




As
      of
      September 12, 2007, the Registrant had 34,300,000 shares of common stock issued
      and outstanding.




Transitional
      Small Business Disclosure Format (check one): Yes o No x










Quarterly
      Report on Form 10-QSB for the


Quarterly
      Period Ending August 31, 2007




Table
      of
      Contents




Page**PART
                I. FINANCIAL INFORMATION**Item
                1. Financial Statements (Unaudited)Condensed
                Consolidated Balance Sheet August 31, 2007:
            
            
            3Condensed
                Consolidated Statements of Operations Three and Nine Months Ended
                August
                31, 2007 and from August 8, 2006 (Inception) to August 31,
                2006:
            
            
            4Condensed
                Consolidated Statements of Cash Flows Nine Months Ended August 31,
                2007
                and from August 8, 2006 (Inception) to August 31, 2006:
            
            
            5Notes
                to Condensed Consolidated Financial Statements Nine Ended August
                31,
                2007:
            
            
            6Item
                2. Management Discussion and Analysis
            
            
            13Item
                3. Controls and Procedures
            
            
            18**PART
                II. OTHER INFORMATION**Item
                1. Legal Proceedings
            
            
            19Item
                6. Exhibits and Reports on Form 8-K
            
            
            19Signatures
            
            
            20CERTIFICATION
                PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002CERTIFICATION
                PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002CERTIFICATION
                PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002CERTIFICATION
                PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002












**PART
      I. FINANCIAL INFORMATION**




**Item
      1. Financial Statements**




The
      following unaudited Condensed Consolidated Financial Statements as of August
      31,
      2007 and for the three and nine months ended August 31, 2007 have been prepared
      by Latin American Telecommunications Venture Company - LATVCO., a Nevada
      corporation.










2


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


**CONDENSED
      CONSOLIDATED BALANCE SHEET**


**(UNAUDITED)**




August
                31, 2007**ASSETS****CURRENT
                ASSETS**:Cash
                and cash equivalents
            
            $
            57Accounts
                receivable
            
            
            2,455Inventories
            
            
            185,754Other
                current asset
            
            
            2,550Note
                receivable
            
            
            187,288Total
                current assets
            
            
            378,104Total
                Assets
            
            $
            378,104**LIABILITIES
                AND STOCKHOLDERS' EQUITY****CURRENT
                LIABILITIES**:Accounts
                payable and accrued expenses
            
            $
            53,766Loan
                payable - related party
            
            
            137,634Total
                current liabilities
            
            
            191,400Commitments
                and contingencies (Note G)**STOCKHOLDERS'
                EQUITY**:Common
                stock, par value $ 0.001 per share; 99,000,000 shares authorized,
                34,300,000 shares issued and outstanding at August 31,
                2007
            
            
            34,300Additional
                paid in capital
            
            
            717,530Accumulated
                deficit
            
            
            (565,126
            )Total
                Stockholders' Equity
            
            
            186,704Total
                Liabilities and Stockholders' Equity
            
            $
            378,104







See
      accompanying footnotes to the unaudited condensed consolidated financial
      statements


3




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


**CONDENSED
      CONSOLIDATED STATEMENTS OF OPERATIONS**


**(UNAUDITED)**






Three
                Months
              Ended
              August
                31,
            
            Nine
                Months
              Ended
              August
                31,
            
            For
                the Period
              From
                August 6, 2006
              (Inception)
                to2007
            
            2007
            
            August
                31, 2006**REVENUES:**Net
                sales
            
            $
            33,809
            
            $
            162,778
            
            $
            -Cost
                of sales
            
            
            9,280
            
            
            68,232
            
            
            -Gross
                Profit
            
            
            24,529
            
            
            94,546
            
            
            -**OPERATING
                EXPENSES**:Media
                advertising
            
            
            12,983
            
            
            168,820
            
            
            -Other
                selling, general and administrative
            
            
            52,108
            
            
            323,217
            
            
            -Merger
                expense
            
            
            -
            
            
            112,700
            
            
            -Total
                Operating Expenses
            
            
            65,091
            
            
            604,737
            
            
            -**LOSS
                FROM OPERATIONS**
            
            
            (40,562
            )
            
            (510,191
            )
            
            -**OTHER
                INCOME (EXPENSE)**
              :Interest
                Expense
            
            
            (3,634
            )
            
            (3,634
            )
            
            -Interest
                income
            
            
            3,356
            
            
            10,077
            
            
            -Total
                Other Income
            
            
            (278
            )
            
            6,443
            
            
            -Net
                loss before income taxes
            
            
            (40,840
            )
            
            (503,748
            )
            
            -Income
                taxes
            
            
            -
            
            
            -
            
            
            -**NET
                INCOME**
            
            $
            (40,840
            )
            $
            (503,748
            )
            $
            -Net
                loss per common share (basic and assuming dilution)
            
            $
            (0.00
            )
            $
            (0.02
            )
            $
            (0.00
            )Weighted
                average common shares outstanding
            
            
            34,300,000
            
            
            33,474,818
            
            
            45,300,000





See
      accompanying footnotes to the unaudited condensed consolidated financial
      statements





4




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


**CONDENSED
      CONSOLIDATED STATEMENTS OF CASH FLOWS**


**(UNAUDITED)**




Nine
                Months
              Ended
              August
                31,
            
            For
                the Period
              From
                August 6, 2006
              (Inception)
                to2007
            
            August
                31, 2006**CASH
                FLOWS FROM OPERATING ACTIVITIES:**Net
                loss
            
            $
            (503,748
            )
            $
            -Adjustments
                to reconcile net loss to net cash used in operating
                activities:Issuance
                of common stock for services
            
            
            1,700
            
            
            -Interest
                income debited to note receivable
            
            
            (2,550
            )
            
            -**INCREASE
                (DECREASE) IN CASH RESULTING FROM CHANGES IN:**Accounts
                receivable
            
            
            (2,455
            )
            
            -Inventory
            
            
            (152,754
            )
            
            -Accounts
                payable and accrued expenses
            
            
            53,766
            
            
            -Prepaid
                expenses
            
            
            9,000
            
            
            -Other
                current asset
            
            
            175,000
            
            
            -**Net
                cash used in operating activities**
            
            
            (422,041
            )
            
            -**Cash
                Flows Used In Investing Activities:**Purchase
                of note receivable
            
            
            (200,000
            )
            
            -Proceeds
                from repayment of note receivable
            
            
            12,712
            
            
            -**Net
                cash used in investing activities**
            
            
            (187,288
            )
            
            -**Cash
                Flows From Financing Activities:**Proceeds
                from issuance of common stock
            
            
            25,000
            
            
            -Repayments
                on loans payable - related parties
            
            
            (169,400
            )
            
            -Proceeds
                from loan payable - related party
            
            
            147,634
            
            
            -**Net
                cash provided by financing activities**
            
            
            3,234
            
            
            -Net
                decrease in cash and cash equivalents
            
            
            (606,095
            )
            
            -Cash
                and cash equivalents at beginning of period
            
            
            606,152
            
            
            -Cash
                and cash equivalents at end of period
            
            $
            57
            
            $
            -Supplemental
                Disclosure of Cash Flow Information:Cash
                paid during the period for interest
            
            $
            2,205
            
            $
            -Cash
                paid during the period for taxes
            
            $
            -
            
            $
            -





See
      accompanying footnotes to the unaudited condensed consolidated financial
      statements




5




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


**NOTES
      TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**


**AUGUST
      31, 2007**


**(UNAUDITED)**




**NOTE
      A - SUMMARY OF ACCOUNTING POLICIES**




General




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 and nine-month periods ended
      August 31, 2007 are not necessarily indicative of the results that may be
      expected for the year ended November 30, 2007. The unaudited condensed
      consolidated financial statements should be read in conjunction with the
      November 30, 2006 financial statements and footnotes thereto included in the
      Company's SEC Form 8-K filed on April 13, 2007.




Basis
      of Presentation




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 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.




6





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 a original maturity of three months
      or
      less to be cash equivalents.




Allowance
      for Doubtful Accounts




The
      Company maintains an allowance for doubt accounts 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. There were no allowances established
      at August 31, 2007.




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.




The
      Company's net operating loss carry forward is approximately $57,000, which
      may
      be used to reduce future taxable income. The net operating loss carry forward
      will expire in 2026 if not used prior to that time.




7





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. The Company had no
      expenditures on research and product development for the period December 1,
      2006
      through August 31, 2007.




Advertising
      Costs




The
      Company follows SOP 93-7 whereby charging the costs of advertising to expenses
      as incurred. The Company charged to operations $12,983 and $168,820 as
      advertising costs for the three and nine-month periods ended August 31,
      2007, respectively.




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.




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.




New
      Accounting Pronouncements




On
      February 16, 2006 the FASB issued SFAS 155, "Accounting for Certain Hybrid
      Instruments," which amends SFAS 133, "Accounting for Derivative Instruments
      and
      Hedging Activities," and SFAS 140, "Accounting for Transfers and Servicing
      of
      Financial Assets and Extinguishments of Liabilities." SFAS 155 allows financial
      allows financial instruments that have embedded derivatives to be accounted
      for
      as a whole (eliminating the need to bifurcate the derivative from its host)
      if
      the holder elects to account for the whole instrument on a fair value basis.
      SFAS 155 also clarifies and amends certain other provisions of SFAS 133 and
      SFAS
      140. This statement is effective for all financial instruments acquired or
      issued in fiscal years beginning after September 15, 2006. The Company does
      not
      expect its adoption of this new standard to have a material impact on its
      financial position, results of operations or cash flows.




8




In
      March
      2006, the FASB issued FASB Statement No. 156, Accounting for Servicing of
      Financial Assets - an amendment to FASB Statement No. 140. Statement 156
      requires that an entity recognize a servicing asset or servicing liability
      each
      time it undertakes an obligation to service a financial asset by entering into
      a
      service contract under certain situations. The new standard is effective for
      fiscal years beginning after September 15, 2006. The Company does not expect
      its
      adoption of this new standard to have a material impact on its financial
      position, results of operations or cash flows.




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. The 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
      September 2006 the FASB issued its Statement of Financial Accounting Standards
      158 "Employers' Accounting for Defined Benefit Pension and Other Postretirement
      Plans". This Statement improves financial reporting by requiring an employer
      to
      recognize the overfunded or underfunded status of a defined benefit
      postretirement plan (other than a multiemployer plan) as an asset or liability
      in its statement of financial position and to recognize changes in that funded
      status in the year in which the changes occur through comprehensive income
      of a
      business entity or changes in unrestricted net assets of a not-for-profit
      organization. This Statement also improves financial reporting by requiring
      an
      employer to measure the funded status of a plan as of the date of its year-end
      statement of financial position, with limited exceptions. The effective date
      for
      an employer with publicly traded equity securities is as of the end of the
      fiscal year ending after December 15, 2006. The Company does not expect adoption
      of this standard will have a material impact on its financial position,
      operations or cash flows.




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
      amends SFAS No. 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 amends 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 not yet adopted any stock-based
      compensation plans.




9





**NOTE
      B - ACQUISITION AND CAPITAL RESTRUCTURE**




On
      April
      13, 2007, Avallon 7, Inc. (“Avallon”) entered into a Share Exchange Agreement
      ("the Exchange") with Latin American Telecommunications Venture Company -
      LATVCO. ("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.




Effective
      with the Exchange, the Company issued 1,700,000 shares of LATVCO’s common stock
      to Vista Consulting Inc. for services rendered in connection with the Exchange.
      In addition, the Company agreed to pay $86,000 for services rendered to the
      Company that is payable upon the Company listing its shares on the
      Over-the-Counter Bulletin Board.




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




**NOTE
      C - 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. Under terms of the unsecured note, the Company may,
      at its sole option, accept shares of Bennoti, Inc. Common stock valued at $0.20
      per share as repayment of any portion of the note principal and interest. The
      note is in default. In June 2007, the Company received a $20,000 payment for
      accrued interest and note principal. In addition, the Company retained legal
      counsel and issued a demand letter for full repayment and possibly file a
      lawsuit seeking immediate repayment.





**NOTE
      D - LOAN PAYABLE - RELATED PARTY**





Loan
      payable - related party represents a loan from a related party that is repayable
      on demand. Interest on the loan accrues at 7.0% per annum. As of August 31,
      2007
      the Company owed $137,634, including $1,428 of accrued interest.





10





**NOTE
      E - CAPITAL STOCK**




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
      34,300,000 shares are outstanding. The holders of the Company’s Common Stock
      have no cumulative voting rights or preemptive rights.




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. In addition, LATVCO issued 2,693,600 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.




Effective
      with the Exchange, the Company issued 1,700,000 shares of LATVCO’s common stock
      to Vista Consulting Inc. for services rendered in connection with the
      Exchange.




**NOTE
      F - CASH FLOWS**




The
      following are the non-cash transaction for the nine months ended August 31,
      2007:




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. In addition, LATVCO issued 2,693,600 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.




Effective
      with the Exchange, the Company issued 1,700,000 shares of LATVCO’s Common Stock
      to Vista Consulting Inc. valued at $1,700 for services rendered in connection
      with the Exchange.




**NOTE
      G - COMMITMENTS AND CONTIGENCIES**




Facility
      leases




On
      June 1, 2007, the Company commenced a month-to-month sublease from a related
      party for approximately 700 square feet of office space in Lake Success, New
      York at a rate of $500 per month. 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.




License
      agreements




On
      August
      17, 2006, the Company entered into an exclusive agreement to distribute Avallon
      8 hair care products throughout the world except for certain European, Latin
      American and Central American countries, China, India, Japan and the African
      continent. The agreement has a three-year term with an option for a three-year
      renewal period.


11




On
      December 4, 2006, the Company entered into a forty-two month exclusive
      product distribution agreement. The license gives the Company exclusive
      marketing rights for North America and Mexico and intellectual property use
      rights, including access to clinical research that supports the products
      efficacy and sale in European markets. The product distribution agreement is
      subject to the Company maintaining minimum annual sales
      requirements.




**NOTE H
      - CONCENTRATIONS**





Purchases
      from two of the Company's major suppliers approximated $20,000 or 11.4% and
      $29,960 or 17.0% of total purchases, respectively, for the three months
      ended August 31, 2007. Purchases from the two major suppliers approximated
      $66,000 or 35.2% and $29,960 or 16.0% of total purchases, respectively, for
      the nine months ended August 31, 2007.





**NOTE I
      - RELATED PARTY TRANSACTIONS**





On
      December 7, 2006 the Company repaid in full two non-interest bearing demand
      loans from two related parties that had an balance outstanding of
      $159,400.





During
      the nine months ended August 31, 2007, a related party loaned the Company a
      total of $144,000 and the Company repaid a total of $10,000. Interest on the
      loan accrues at 7.0% per annum. The loan is payable on demand.  As
      of
      August 31, 2007, the Company owed $137,634, including $1,428 of accrued
      interest.





On
      December 13, 2006, the Company loaned $200,000 to Bennoti, Inc., a privately
      held marketer and seller of specialty beverage products (See Note C). A Company
      stockholder who owns 195,000 shares of Company Common Stock or 0.57% is Bennoti,
      Inc.’s president and a director.





Effective
      with the Exchange, the Company incurred a fee of $86,000 for services assisting
      the Company with listing its shares on the Over-the-Counter Bulletin Board.
      The
      fee is included in merger expense and the consultant is a Company
      stockholder who owns 2,484,500 shares of Company Common Stock or 7.2% and is
      a
      former LATVCO officer and director.




On
      June
      1, 2007, the Company commenced a month-to-month sublease from a related party
      for approximately 700 square feet of office space in Lake Success, New York
      at a
      rate of $500 per month. As of August 31, 2007, the Company owed $1,500 in
      rent.




**NOTE J
      - GOING CONCERN MATTERS**




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 unaudited condensed
      financial statements, as of August 31, 2007, the Company had a cash position
      of
      $57, incurred a net loss of $500,621 for the nine months then ended and loaned
      $200,000 to Bennoti, Inc. under a note receivable (see Note C). These factors
      among others may indicate that the Company may be unable to continue as a going
      concern for a reasonable period of time.




The
      Company is actively seeking cash for operations by pursuing repayment of its
      note receivable and additional equity financing through discussions with
      investment bankers and private investors. There can be no assurance the Company
      will be successful in its efforts. The Company's existence is dependent upon
      management's ability to develop profitable operations and resolve its liquidity
      problems. Management anticipates the Company will attain profitable status
      and
      improve its liquidity through the continued developing, marketing and selling
      of
      its products, collection of its note receivable and additional equity investment
      in the Company.





12





If
      operations and cash flows improve through these efforts, management believes
      that the Company can continue to operate. However, no assurance can be given
      that management's actions will result in profitable operations or the resolution
      of its liquidity problems.








**ITEM
      2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
      OF
      OPERATIONS FOR THE THREE AND NINE MONTHS ENDED AUGUST 31,
      2007**




***Overview***




The
      statements in this Report relating to our expectations are forward-looking
      statements within the meaning of the Private Securities Litigation Reform Act
      of
      1995 (the "Act"). Additionally, words such as "expects", "anticipates",
      "intends", "believes", "will" and similar words are used to identify
      forward-looking statements within the meaning of the Act. We undertake no
      obligation to publicly update or revise any forward-looking statements, whether
      as the result of new information, future events or otherwise.




The
      results anticipated by any or all of these forward-looking statements might
      not
      occur. Important factors, uncertainties and risks that may cause actual results
      to differ materially from these forward-looking statements include (1) general
      domestic and international economic and business conditions including political
      unrest, currency fluctuations and tariffs, (2) increased competition in our
      markets and products, (3) our ability to obtain additional working capital
      and
      (4) our ability to commercialize our products. The Company has sought to
      identify the most significant risks to its business, but cannot predict whether
      or to what extent any of such risks may be realized nor can there be any
      assurance that the Company has identified all possible risks that might arise.
      For more information regarding some of the ongoing risks and uncertainties
      of
      our business, see our other filings with the Securities and Exchange Commission.
      Investors should carefully consider all of such risks before making an
      investment decision with respect to the Company's stock.




The
      following discussion and analysis should be read in conjunction with our
      financial statements and notes thereto. This discussion should not be construed
      to imply that the results discussed herein will necessarily continue into the
      future, or that any conclusion reached herein will necessarily be indicative
      of
      actual operating results in the future. Such discussion represents only the
      best
      present assessment from our Management.




Information
      about us, including a description of our business, markets, properties,
      competition and historical financial information, is provided in summary form
      regarding our business and affairs. This information is not intended to be
      complete and should be read in conjunction with the financial statements and
      other documents appended hereto or described herein.




***General***




Our
      primary business is the marketing and sale of health and beauty care products
      to
      consumers, both branded and private label. The market for health and beauty
      care
      products offers opportunities for new and unique products, with their efficacy
      backed by scientific clinical and before-and-after testimonials. We are
      positioning our business to fill the need for these types of product by using
      an
      integrated direct response and retail-marketing model.




13





***History
      and Organizational Structure***




LATVCO
      was incorporated on July 26, 1990 and functioned as a blank check company.
      Effective as of April 13, 2007, a change in control transaction occurred. This
      change in control is the result of LATVCO’s acquisition of all of the issued and
      outstanding shares of Avallon in exchange for shares of common stock LATVCO
      pursuant to the Exchange Agreement. In accordance with the Exchange Agreement,
      (i) Avallon exchanged all of its issued and outstanding shares of common stock
      for shares of common stock of LATVCO as set forth below and (ii) Avallon is
      a
      wholly owned subsidiary of LATVCO (the “Transaction”). The Transaction closed as
      of April 13, 2007. Prior to the Transaction, Avallon was a privately held
      company. Avallon markets products in the health and beauty care industry. As
      a
      part of the Transaction, LATVCO will change its name to Beauty America,
      Inc.





Avallon
      was incorporated on August 8, 2006 in the state of Nevada. Avallon is located
      at
      1981 Marcus Avenue, Suite C219, Lake Success, New York 11042.





***Products***




Our
      first
      product line, Avallon 8, is a series of products formulated for hair re-growth
      and thickening. Our products are designed to slow down hair loss, strengthen
      existing hair, nourish the user’s inactive hair matrix and re-grow hair. Avallon
      8 products are made using natural ingredients consisting of plant extracts,
      vitamins, amino acids, and plant proteins. Avallon 8 products contain no drugs
      or harmful chemicals and are positioned in the marketplace as a natural solution
      to hair re-growth. The line of Avallon 8 products is presently comprised of
      the
      following: Avallon 8 Hair Intensive Treatment Shampoo, Avallon 8 Hair Intensive
      Treatment Cream and the Avallon 8 Intensive Treatment Spray. We bundle our
      Avallon 8 products as a complete and convenient solution that we sell at the
      Hair Intensive Treatment Kit. We have exclusive distribution agreement with
      the
      Avallon 8 product manufacturer and owner of all associated intellectual
      property. The agreement, which began on August 17, 2006 and has an initial
      three-year term with renewal provisions, covers the United States and the
      majority of non-U.S. markets outside of Africa and the Middle East. We purchase
      finished Avallon 8 products that are shipped from manufacturing facilities
      located in South Africa.





We
      are
      continuously seeking products to extend our Avallon 8 product line and new
      complimentary products that diversify our purchasing options and offer constant
      cost containment and cost reduction. In general, we expect that we will obtain
      new products through licensing arrangements with third parties that have
      patents, clinical trial results, expert endorsements, trademarks, and rights
      to
      distribution or re-distribution.





***Product
      Sales, Distribution and Marketing***




Our
      marketing strategy is use a variety of direct response programs to market our
      products and use distribution through mass retailers and catalogs to expand
      sales. The direct response campaigns use a combination of Internet media, print
      publications, targeted radio spots and infomercial airings on national cable
      and
      select broadcast media. Print ads are placed in national magazines with monthly
      run-of-book rotating ads in the top 30 regional markets. We plan to develop
      and
      air radio spots that target key demographic markets for our product. In
      addition, we expect to develop one and two-minute infomercials that will be
      used
      to test media and for the initial marketing launch. We see an opportunity to
      develop a 28-minute infomercial that more fully demonstrates the product and
      is
      used to drive our direct response marketing sales program. Retail accounts
      will
      be targeted both regional and national levels depending on product roll out
      and
      class of trade pricing strategies.




14





Our
      customer base will consist primarily of U.S. consumers who purchase our products
      directly from us, retailer or consumer product catalogs. The direct response
      element will include soft and hard sell programs and continuity programs for
      all
      the products. Our retail targets will include the different classes of trade,
      including Chain Drug, Grocery, Mass merchants and specialty markets and clubs.
      International sales are expected to be approximately 20% of the total sales
      volume, consisting of product sales to direct marketers operating in non-U.S.
      markets and the licensing of our infomercials and other marketing
      materials.





**FOR
      THE THREE MONTHS AND NINE MONTHS ENDED AUGUST 31, 2007**




***Results
      of Operations***




***Revenues***




LATVCO,
      through its wholly owned subsidiary Avallon, sells a variety of health and
      beauty care products directly to consumers ("direct response sales") and to
      retailers (the "retail sales"). Avallon uses television and print media
      advertising to promote sales in both segments. Avallon was formed on August
      8,
      2006 and we commenced selling activities in January 2007. Our revenue was
      $33,809 for the three months ended August 31, 2007 versus revenue of $0 for
      the
      three months ended August 31, 2006. Our revenue was $162,778 for the nine months
      ended August 31, 2007 versus revenue of $0 for the nine months ended August
      31,
      2006.




We
      are
      currently focusing on generating revenue by selling our products directly to
      consumers through their responses to our Internet advertising and other
      marketing campaigns. We plan to test market new health and beauty products.
      Our
      direct response sales operations and test marketing require that we use cash
      to
      purchase, up to two weeks in advance, promotional advertising and to purchase,
      up to eight weeks in advance, products that we sell. We are currently seeking
      funding that we plan to use for our direct response sales operation and new
      product marketing. We expect our ability to generate revenues will depend
      primarily on obtaining funds.




***Gross
      Profit***




Our
      gross
      profit was $24,529 or 72.6% for the three months ended August 31, 2007 versus
      gross profit of $0 for the three months ended August 31, 2006. Our gross profit
      was $94,546 or 58.1% for the nine months ended August 31, 2007 versus revenue
      of
      $0 for the nine months ended August 31, 2006. Our gross profit percentages
      for
      the three and nine month periods ended August 31, 2007 resulted primarily from
      commencing direct response sales operations in January 2007.




***Operating
      Expenses***




Our
      operating expenses for the three months ended August 31, 2007 were $65,091
      versus operating expenses of $0 for the three months ended August 31, 2006.
      Our
      operating expenses were $604,737 for the nine months ended August 31, 2007
      versus operating expenses of $0 for the nine months ended August 31, 2006.
      For
      the three and nine-month periods ended August 31, 2007, media advertising
      expense was $12,983 and $168,820, respectively. In connection with the
      Transaction, for the three and nine-month periods ended August 31, 2007, we
      recognized a $112,700 merger expense charge consisting of $25,000 in legal
      fees,
      $1,700 the issuance of 1,700,000 shares of our Common Stock and a $86,000
      payment for consulting services. For the three and nine-month periods ended
      August 31, 2007, operating expenses were 196.7% and 371.5%, respectively, of
      revenues. We recently began operating our business, including efforts to market
      and sell our products, and our fixed operating costs and selling expenses are
      exceeding our revenues.




15


***Other
      Income***




Other
      income consisted of interest income earned on our note receivable from Bennoti,
      Inc., a marketer and seller of specialty beverage products, and interest expense
      on our related party loan payable. Interest on the $200,000 note accrues at
      7.0%
      per annum starting on December 13, 2006, the date that we loaned the funds.
      Interest income was $3,356 and $10,077 for the three and nine-month periods
      ended August 31, 2007, respectively. We are in discussions with Bennoti, Inc.
      concerning repayment of the note receivable, which matured on April 1, 2007,
      and
      we received a $20,000 partial payment in June 2007. Under terms of the unsecured
      note, we may, at our sole option, accept shares of Bennoti, Inc. common stock
      valued at $0.20 per share as repayment of any portion of the note principal
      and
      interest. A stockholder who owns 195,000 LATVCO common shares or 0.57% is
      Bennoti, Inc.’s president and a director.





We
      incurred $3,634 in interest expense for the three and nine month periods ended
      August 31, 2007 on our related party loan payable. Interest on our outstanding
      borrowings accrues at 7.0% per annum. As of August 31, 2007, we owed $137,634,
      including $1,428 of accrued interest.




***Net
      Loss***




Our
      net
      loss for the three months ended August 31, 2007 was $40,840 versus a net loss
      of
      $0 for the three months ended August 31, 2006. Our net loss was $503,748 for
      the
      nine months ended August 31, 2007 versus operating expenses of $0 for the nine
      months ended August 31, 2006.




We
      recently began operating our business, including efforts to market and sell
      our
      products, and revenues were not sufficient to cover our operating costs. In
      addition, our net loss for the three and nine-month periods ended August 31,
      2007 included a one-time merger expense charge of $112,700 in connection with
      the Transaction. We are continuing our efforts to market and sell our products
      in order to generate higher sales volume and unless and until such time as
      we
      generate substantially higher sales volume, we will continue to realize net
      losses.




Our
      net
      loss per common share (basic and diluted) was $0.00 for the three months ended
      August 31, 2007 and $0.02 for the nine months ended August 31,
      2007.




The
      weighted average number of outstanding shares was 34,300,000 (basic and fully
      diluted) for the three-month period ended August 31, 2007, respectively. The
      weighted average number of outstanding shares was 33,474,818 (basic and fully
      diluted) for the nine-month period ended August 31, 2007, respectively. For
      the
      three and nine-month periods ended August 31, 2007, common stock equivalents
      derived from shares issued in conversion of warrants are not considered in
      the
      calculation of the weighted average number of common shares outstanding because
      they would be anti-dilutive, thereby decreasing the net loss per share. For
      the
      periods ended August 31, 2007, no warrants were outstanding.




***Liquidity
      and Capital Resources***




***Overview***




As
      of
      August 31, 2007, we had a working capital of $186,704. We used $422,041 in
      cash
      for operations for the nine months ended August 31, 2007. Our cash flow used
      in
      operation is primarily attributable to the net loss of $503,748 and a $152,754
      increase in our inventory, partially offset by a $53,766 increase in accounts
      payable and accrued expenses and a $175,000 reduction in other current assets
      for drawing down on our funds held in a non-interest bearing escrow account
      for
      the payment of legal and consulting fees for the Transaction.





16




Cash
      flows used in investing activities for the nine months ended August 31, 2007
      consisted of the $200,000 purchase on December 13, 2006 of a note receivable
      that matured on April 1, 2007. In June 2007, we received a $20,000 payment
      for
      accrued interest and note principal.




Cash
      flow
      for financing activities provided $3,234 for the nine months ended August 31,
      2007, which consisted of $25,000 in cash collected for a common stock
      subscription receivable offset by $21,766 in net repayments on the loans payable
      - related parties.




***Financing***




Capital
      for our development has been provided by Avallon’s founding shareholders and
      short-term loans from related parties. Through the period from inception (August
      8, 2006) to August 31, 2007, shareholders contributed $750,130 in cash to the
      Company. In addition, as of August 31, 2007, the Company has $137,634 in
      outstanding borrowings from a related party. The capital has been or will be
      used to fund introductory marketing campaigns, the acquisition of inventory
      and
      operating expenses.




We
      are
      actively seeking cash for operations by pursuing repayment of our note
      receivable and additional equity financing through discussions with investment
      bankers and private investors. There can be no assurance we will be successful
      in our efforts. We currently have no commitments for financing. The Company's
      existence is dependent upon our management's ability to develop profitable
      operations and resolve our liquidity problems. Management anticipates we will
      attain profitable status and improve our liquidity through the continued
      developing, marketing and selling of our products, collection of our note
      receivable and additional equity investment in the Company. If operations and
      cash flows improve through these efforts, management believes that we can
      continue to operate. However, no assurance can be given that management's
      actions will result in profitable operations or the resolution of our liquidity
      problems.





By
      adjusting our operations and development to the level of capitalization,
      management believes we have sufficient capital resources to meet projected
      cash
      flow deficits through the next twelve months. However, if thereafter, we are
      not
      successful in generating sufficient liquidity from operations or in raising
      sufficient capital resources, on terms acceptable to us, this could have a
      material adverse effect on our business, results of operations, liquidity and
      financial condition.





The
      independent auditor’s report on Avallon’s November 30, 2006 financial statements
      included in a Form 8-K filed on April 13, 2007 states that the Company is
      experiencing difficulty in generating sufficient cash flow to meet its
      obligations and sustain its operations, which raises substantial doubt about
      its
      ability to continue as a going concern.





The
      effect of inflation on the Company's revenue and operating results was not
      significant. The Company's operations are located in North America and there
      are
      no seasonal aspects that would have a material effect on the Company's financial
      condition or results of operations.




**Trends,
      Risks and Uncertainties**




We
      have
      sought to identify what we believe to be the most significant risks to our
      business, but we cannot predict whether, or to what extent, any of such risks
      may be realized nor can we guarantee that we have identified all possible risks
      that might arise. Investors should carefully consider all of such risk factors
      before making an investment decision with respect to our Common
      Stock.




17




**FORWARD-LOOKING
      STATEMENTS**




The
      statements in this Report relating to our expectations are forward-looking
      statements within the meaning of the Private Securities Litigation Reform Act
      of
      1995 (the "Act"). Additionally, words such as "expects", "anticipates",
      "intends", "believes", "will" and similar words are used to identify
      forward-looking statements within the meaning of the Act.




The
      results anticipated by any or all of these forward-looking statements might
      not
      occur. Important factors, uncertainties and risks that may cause actual results
      to differ materially from these forward-looking statements include (1) general
      domestic and international economic and business conditions including political
      unrest, currency fluctuations and tariffs, (2) increased competition in our
      markets and products, (3) our ability to obtain additional working capital
      and
      (4) our ability to commercialize our products.




We
      undertake no obligation to publicly update or revise any forward-looking
      statements, whether as the result of new information, future events or
      otherwise. For more information regarding some of the ongoing risks and
      uncertainties of our business, see our other filings with the Securities and
      Exchange Commission.




**Item
      3. Controls and Procedures**




**(a)**
            **Evaluation
                of Disclosure controls and
                Procedures**




We
      maintain disclosure controls and procedures that are designed to ensure that
      information required to be disclosed in our Exchange act reports is recorded,
      processed, summarized and reported within the time periods specified in the
      SEC's rules and forms and that such information is accumulated and communicated
      to our management, including our chief executive officer and chief financial
      officer, as appropriate, to allow timely decisions regarding required
      disclosure. Management necessarily applied its judgment in assessing the costs
      and benefits of such controls and procedures, which, by their nature, can
      provide only reasonable assurance regarding management's control
      objectives.




We
      have
      carried out an evaluation, under the supervision and with the participation
      of
      our management, including our chief executive officer and chief financial
      officer of the effectiveness of the design and operation of our disclosure
      controls and procedures as of the evaluation date.




Based
      upon that evaluation, the chief executive officer and chief financial officer
      concluded that our disclosure controls and procedures were not effective as
      of
      the evaluation date.




In
      connection with the quarterly review ended May 31, 2007 our independent
      registered public accounting firm informed us that we have significant
      deficiencies constituting material weaknesses as defined by the standards of
      the
      Public Company Accounting Oversight Board. The material weaknesses identified
      consisted of a lack of certain procedures to properly account for non-routine
      transactions and preparation of certain financial statement disclosures in
      accordance with U.S. GAAP.




We
      have a
      failure to maintain effective controls over the selection, application and
      monitoring of our accounting policies to assure that certain equity transactions
      were accounted for in accordance with generally accepted accounting principles.
      There were no material weaknesses identified other than the weaknesses
      identified and described above, however, these identified continued to exist
      as
      of the end of the period ended August 31, 2007.





18





**(a)**
            **Changes
                in internal controls**




There
      were no significant changes in our internal controls or in other factors that
      could significantly affect these controls subsequent to the evaluation
      date.




**PART
      II - OTHER INFORMATION**




**Item
      1. Legal Proceedings.**




In
      the
      ordinary course of business, the Registrant may be involved in legal proceedings
      from time to time. Although occasional adverse decisions or settlements may
      occur, management believes that the final disposition of such matters will
      not
      have material adverse effect on its financial position, results of operations
      or
      liquidity.




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




(a)
            Exhibits




31.1
            
            Certification
                of the Chief Executive Officer of Latin American Telecommunications
                Venture Company - LATVCO. pursuant to Exchange Act Rule
                15d-14(a)31.2
            
            Certification
                of the Chief Financial Officer of Latin American Telecommunications
                Venture Company - LATVCO. pursuant to Exchange Act Rule
                15d-14(a)32.1
            
            Certification
                of the Chief Executive Officer of Latin American Telecommunications
                Venture Company - LATVCO. pursuant to 18 U.S.C. 135032.2
            
            Certification
                of the Chief Financial Officer of Latin American Telecommunications
                Venture Company - LATVCO. pursuant to 18 U.S.C.
                1350





(a)
            Reports
                filed on Form 8-K during the three months ended August 31,
                2007










19





**SIGNATURES**




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


Latin
                American Telecommunications Venture Company - LATVCO.
              (Registrant)Date:
                September 12, 2007
            /s/
                David BakhshiChief
                Executive Officer/s/
                Thomas CalabroChief Financial Officer
              (Principal
                Financial and Accounting Officer)








20