SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                   FORM 10-KSB

                 Annual Report Under Section 13 or 15(d) of the

                         SECURITIES EXCHANGE ACT OF 1934

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

                              For Fiscal Year Ended
                                December 31, 2000

                            Commission File #0-30327

                                SEGWAY V CORP.
             (Exact name of registrant as specified in its charter)

                                   New Jersey

         (State or other jurisdiction of incorporation or organization)

                                   22-3719171
                      (IRS Employer Identification Number)

                   4400 Route 9, 2nd Floor, Freehold, NJ 07728
               (Address of principal executive offices )(Zip Code)

                                 (732) 409-1212
                (Registrant's telephone no., including area code)

(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: Common Stock,
$0.0001 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) has been subject to such filing
requirements for the past 90 days.

Yes   [X]     No [   ]

                                       1
<PAGE>

Check if there is no disclosure of delinquent filers in response to Item 405 of
Regulation S-B not contained in this form, and no disclosure will be contained,
to the best of the registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB. ( )

Revenues for year ended December 31, 2000: $-0-

Aggregate market value of the voting common stock held by non-affiliates of the
registrant as of April 3, 2001, was: $-0-

Number of shares of the registrant's common stock outstanding as of April 3,
2001 is: 5,250,000

The Company does not have a Transfer Agent.


                                       2
<PAGE>

PART I

ITEM 1.  DESCRIPTION OF BUSINESS

GENERAL

Segway V Corp. (the "Company"), was incorporated on March 31, 2000, under the
laws of the State of New Jersey to engage in any lawful corporate undertaking,
including, but not limited to, selected mergers and acquisitions. The Company
has been in the developmental stage since inception and has no operations to
date other than issuing shares to its original shareholders.

The Company will attempt to locate and negotiate with a business entity for the
combination of that target company with the Company. The combination will
normally take the form of a merger, stock-for-stock exchange or stock-for-assets
exchange. In most instances, the target company will wish to structure the
business combination to be within the definition of a tax-free reorganization
under Section 351 or Section 368 of the Internal Revenue Code of 1986, as
amended. No assurances can be given that the Company will be successful in
locating or negotiating with any target company.

The Company has been formed to provide a method for a foreign or domestic
private company to become a reporting ("public") company whose securities are
qualified for trading in the United States secondary market.

PERCEIVED BENEFITS

There are certain perceived benefits to being a reporting company with a class
of publicly- traded securities. These are commonly thought to include the
following:

*    the ability to use registered securities to make acquisitions of assets or
     businesses;

*    increased visibility in the financial community;

*    the facilitation of borrowing from financial institutions;

*    improved trading efficiency;

*    shareholder liquidity;

*    greater ease in subsequently raising capital;

*    compensation of key employees through stock options for which there may be
     a market valuation;


                                       3
<PAGE>

*    enhanced corporate image;

*    a presence in the United States capital market.

POTENTIAL TARGET COMPANIES

A business entity, if any, which may be interested in a business combination
with the Company may include the following:

*    a company for which a primary purpose of becoming public is the use of its
     securities for the acquisition of assets or businesses;

*    a company which is unable to find an underwriter of its securities or is
     unable to find an underwriter of securities on terms acceptable to it;

*    a company which wishes to become public with less dilution of its common
     stock than would occur upon an underwriting;

*    a company which believes that it will be able to obtain investment capital
     on more favorable terms after it has become public;

*    a foreign company which may wish an initial entry into the United States
     securities market;

*    a special situation company, such as a company seeking a public market to
     satisfy redemption requirements under a qualified Employee Stock Option
     Plan;

*    a company seeking one or more of the other perceived benefits of becoming a
     public company.

A business combination with a target company will normally involve the transfer
to the target company of the majority of the issued and outstanding common stock
of the Company, and the substitution by the target company of its own management
and board of directors.

No assurances can be given that the Company will be able to enter into a
business combination, as to the terms of a business combination, or as to the
nature of the target company.

EMPLOYEES

The Company has no full time employees. Richard I. Anslow, the Company's
President has agreed to allocate a portion of his time to the activities of the
Company, without compensation. Mr. Anslow anticipates that the business plan of
the Company can be


                                       4
<PAGE>

implemented by his devoting no more than 10 hours per month to the business
affairs of the Company and, consequently, conflicts of interest may arise with
respect to the limited time commitment by Mr. Anslow.

ITEM 2. DESCRIPTION OF PROPERTY

The Company has no properties and at this time has no agreements to acquire any
properties. The Company currently uses the offices of management at no cost to
the Company. Management has agreed to continue this arrangement until the
Company completes an acquisition or merger.

ITEM 3.  LEGAL PROCEEDINGS

There is no litigation pending or threatened by or against the Company.

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

None.

PART II

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
-----------------------------------------------------------------

On April 3, 2001, there were 2 shareholders of record of our common stock. Our
shares of common stock have never been traded on any recognized stock exchange.

DIVIDENDS

We do not intends to retain future earnings to support our growth. Any payment
of cash dividends in the future will be dependent upon: the amount of funds
legally available therefore; our earnings; financial condition; capital
requirements; and other factors which our Board of Directors deems relevant.

ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS
-------------------------------------------------------------------------------

PLAN OF OPERATION

The Company is continuing its efforts to locate a merger candidate for the
purpose of a merger. It is possible that the Company will be successful in
locating such a merger candidate and closing such merger. However, if the
Company cannot effect a non-cash acquisition, the Company may have to raise
funds from a private offering of its securities


                                       5
<PAGE>

under Rule 506 of Regulation D. There is no assurance the Company would obtain
any such equity funding.

RESULTS OF OPERATION

The Company did not have any operating income from March 31, 2000 (inception)
through December 31, 2000. For this period, the Comapny recognized a net loss of
$837. Some general and administrative expenses during the year were accrued.
Expenses for the quarter were comprised of costs mainly associated with legal,
accounting and office.

LIQUIDITY AND CAPITAL RESOURCES

At December 31, 2000 the Company had no capital resources other than an
insignificant amount of cash, and will rely on advances from related parties to
fund administrative expenses pending acquisition of an operating company.

ITEM 7. FINANCIAL STATEMENTS

The financial statements of the Company, together with the report of auditors,
are as follows:

                                SEGWAY V CORP.

                              FINANCIAL STATEMENTS

                            AS OF December 31, 2000


                                SEGWAY V CORP.

                     Financial Statements Table of Contents
<TABLE>
<CAPTION>
FINANCIAL STATEMENTS                                    Page #
<S>                                                     <C>
Independent Auditors Report                             1

      Balance Sheet                                     2


      Statement of Operations and Retained Deficit      3


 Statement of Stockholders' Equity                      4

      Cash Flow Statement                               5


      Notes to the Financial Statements                 6-8
</TABLE>


                                       6
<PAGE>

INDEPENDENT AUDITOR'S REPORT ON FINANCIAL STATEMENTS


To the Board of Directors and Stockholders
Segway V Corp.
Freehold, New Jersey

We have audited the accompanying balance sheet of Segway V Corp. as of
December 31, 2000, and the related statements of operations and retained
earnings, and cash flows from March 31, 2000 (inception) through December 31,
2000. These financial statements are the responsibility of the Company's
management. Our responsibility is to express an opinion on these financial
statements based on our audit.

We conducted our audit in accordance with generally accepted auditing standards.
Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Segway V Corp., as of
December 31, 2000 and the results of its operations and its cash flows from
March 31, 2000 (inception) through December 31, 2000 in conformity with
generally accepted accounting principles.

                           /s/Gately & Associates, LLC
                            Gately & Associates, LLC
                          Certified Public Accountants
                                Orlando, Florida
                                 March 21, 2001

                                       7
<PAGE>

                                SEGWAY V CORP.
                                  BALANCE SHEET
                             As of December 31, 2000


                                     ASSETS
<TABLE>
<CAPTION>
CURRENT ASSETS
<S>                                                                    <C>
        Cash                                                           $  88
                                                                       -----
                                       TOTAL ASSETS                    $  88
                                                                       =====
                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

    Accrued expenses                                                   $ 175
                                                                       -----

                                       TOTAL LIABILITIES                 175
                                                                       -----

STOCKHOLDERS' EQUITY

        Common Stock - par value $0.0001; 100,000,000 shares
         authorized; 5,250,000 issued and outstanding                    750
        Preferred Stock - Par value $0.0001; 20,000,000 shares
         authorized; none issued and outstanding                           0

              Retained earnings                                         (837)
                                                                       -----
                Total stockholder's equity                               (87)
                                                                       -----


         TOTAL LIABILITIES AND EQUITY                           $         88
                                                                       -----
</TABLE>

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

                                       8
<PAGE>


                                SEGWAY V CORP.
                             STATEMENT OF OPERATIONS
            For The Nine and Three Months Ended December 31, 2000 and
                           March 31, 2000 (Inception)

<TABLE>
<CAPTION>
                                                        Nine Months   Three Months  March 31, 2000
                                                        -----------   ------------  --------------
<S>                                                           <C>      <C>          <C>
REVENUE                    Sales                              $   0    $   0        $   0
                           Cost of sales                          0        0            0
                                                              -----    -----        -----


     GROSS PROFIT                                                 0        0            0

     GENERAL AND ADMINISTRATIVE EXPENSES

         Legal, Accounting and office                           837      133            0
                                                               -----    -----       -----

                  TOTAL GENERAL AND ADMINISTRATIVE EXPENSES     837      133            0
                                                               -----    -----       -----

     Net loss                                                  (837)    (133)           0

     Retained Deficit, Beginning Balance                          0        0            0
                                                               -----    -----       -----

     Retained Deficit, Ending Balance                          (837)    (133)           0
                                                               =====    =====       =====
NET EARNINGS PER SHARE

         Basic and Diluted

         Net loss per share                          (Less than .01)

Basic and Diluted Weighted Average

    Number of Common Shares Outstanding                    5,062,500
</TABLE>

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

                                       9
<PAGE>

                                SEGWAY V CORP.
                        STATEMENT OF STOCKHOLDERS' EQUITY
                         From March 31, 2000 (Inception)
                            Through December 31, 2000

<TABLE>
<CAPTION>
                                   Common shares   Common Stock   Accumulated Deficit    Total Equity
                                   -------------   ------------   -------------------    ------------
<S>                                  <C>           <C>               <C>                    <C>
Shares issued for cash               5,250,000     $      750                            $    750
Accumulated Deficit                                                  $       (837)           (837)
                                     ------------   ------------     ------------------    -----------

Balance at December 31, 2000         5,250,000     $       750       $       (837)        $   (87)
                                      ===========   ============      ==================   ============
</TABLE>

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


                                       10
<PAGE>

                                SEGWAY V CORP.
                             STATEMENT OF CASH FLOWS
                 For The Nine Months Ended December 31, 2000 and
                           March 31, 2000 (Inception)
<TABLE>
<CAPTION>
                                                          December 31,   March 31,
                                                              2000         2000
                                                          -----------    ---------
     CASH FLOWS FROM OPERATING ACTIVITIES
<S>                                                              <C>      <C>
        Net income (loss)                                        $(837)   $   0

                      Increases (Decrease) in Accrued Expenses     175        0
                                                                 -----    -----

    NET CASH PROVIDED OR (USED) IN OPERATIONS                     (662)       0

CASH FLOWS FROM FINANCING ACTIVITIES

        None                                                         0        0

CASH FLOWS FROM INVESTING ACTIVITIES

        Proceeds from issuance of common stock                     750        0
                                                                 -----    -----

CASH RECONCILIATION

        Net increase (decrease) in cash                             88        0

CASH BALANCE AT END OF YEAR                                      $  88    $   0
                                                                 =====    =====
</TABLE>

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

                                       11
<PAGE>


                                SEGWAY V CORP.

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
   ------------------------------------------

INDUSTRY - Segway V Corp. (The Company), a company incorporated in the State
of New Jersey as of March 31, 2000, plans to locate and negotiate with a
business entity for the combination of that target company with The Company. The
combination will normally take the form of a merger, stock-for-stock exchange or
stock-for-assets exchange. In most instances the target company will wish to
structure the business combination to be within the definition of a tax-free
reorganization under Section 351 or Section 368 of the Internal Revenue Code of
1986, as amended. No assurances can be given that The Company will be successful
in locating or negotiating with any target company.

The Company has been formed to provide a method for a foreign or domestic
private company to become a reporting ("public") company whose securities are
qualified for trading in the United States secondary market.

RESULTS OF OPERATIONS AND ONGOING ENTITY - The Company is considered to be an
ongoing entity. The Company's shareholders fund any shortfalls in The Company's
cash flow on a day to day basis during the time period that The Company is in
the development stage.

LIQUIDITY AND CAPITAL RESOURCES - In addition to the stockholder funding capital
shortfalls; The Company anticipates interested investors that intend to fund the
Company's growth once a business is located.

CASH AND CASH EQUIVALENTS - The Company considers cash on hand and amounts on
deposit with financial institutions which have original maturities of three
months or less to be cash and cash equivalents.

BASIS OF ACCOUNTING - The Company's financial statements are prepared in
accordance with generally accepted accounting principles.

INCOME TAXES - The Company utilizes the asset and liability method to measure
and record deferred income tax assets and liabilities. Deferred tax assets and
liabilities reflect the future income tax effects of temporary differences
between the financial statement carrying amounts of existing assets and
liabilities and their respective tax bases and are measured using enacted tax
rates that apply to taxable income in the years in which those temporary
differences are expected to be recovered or settled. Deferred tax assets are
reduced by a valuation allowance when in the opinion of management, it is more
likely than not that some portion or all of the deferred tax assets will not be
realized. At this time, The Company has set up an allowance for deferred taxes
as there is no company history to indicate the usage of deferred tax assets and
liabilities.

FAIR VALUE OF FINANCIAL INSTRUMENTS - The Company's financial instruments may
include cash and cash equivalents, short-term investments, accounts receivable,
accounts payable and

                                       12
<PAGE>

liabilities to banks and shareholders. The carrying amount of long-term debt to
banks approximates fair value based on interest rates that are currently
available to The Company for issuance of debt with similar terms and remaining
maturities. The carrying amounts of other financial instruments approximate
their fair value because of short-term maturities.

CONCENTRATIONS OF CREDIT RISK - Financial instruments which potentially expose
The Company to concentrations of credit risk consist principally of operating
demand deposit accounts. The Company's policy is to place its operating demand
deposit accounts with high credit quality financial institutions. At this time
The Company has no deposits that are at risk.

2. RELATED PARTY TRANSACTIONS AND GOING CONCERN:
   --------------------------------------------

The Company's financial statements have been presented on the basis that it is a
going concern in the development stage, which contemplates the realization of
assets and the satisfaction of liabilities in the normal course of business. At
this time The Company has not identified the business that it wishes to engage
in.

The Company's shareholders fund The Company's activities while The Company takes
steps to locate and negotiate with a business entity for combination; however,
there can be no assurance these activities will be successful.

3. ACCOUNTS RECEIVABLE AND CUSTOMER DEPOSITS:
   -----------------------------------------

Accounts receivable and Customer deposits do not exist at this time and
therefore have no allowances accounted for or disclosures made.

4. USE OF ESTIMATES:
   ----------------

Management uses estimates and assumptions in preparing these financial
statements in accordance with generally accepted accounting principles. Those
estimates and assumptions affect the reported amounts of assets and liabilities,
the disclosure of contingent assets and liabilities, and the reported revenue
and expenses. Management has no reason to make estimates at this time.

5. REVENUE AND COST RECOGNITION:
   ----------------------------

The Company uses the accrual basis of accounting in accordance with generally
accepted accounting principles for financial statement reporting.

6. ACCRUED EXPENSES:
   ----------------

Accrued expenses consist of accrued legal, accounting and office costs during
this stage of the business.

7. OPERATING LEASE AGREEMENTS:
   --------------------------

The Company has no agreements at this time.

                                       13
<PAGE>

8. STOCKHOLDER'S EQUITY:
   --------------------

Common Stock includes 100,000,000 shares authorized at a par value of $0.0001,
of which 5,250,000 have been issued for the amount of $750. The Company has also
authorized 20,000,000 shares of preferred stock at a par value of $0.0001, none
of which have been issued.

9. REQUIRED CASH FLOW DISCLOSURE FOR INTEREST AND TAXES PAID:
   ---------------------------------------------------------

The Company has paid no amounts for federal income taxes and interest.

10. EARNINGS PER SHARE:
    ------------------

Basic earnings per share ("EPS") is computed by dividing earnings available to
common shareholders by the weighted-average number of common shares outstanding
for the period as required by the Financial Accounting Standards Board (FASB)
under Statement of Financial Accounting Standards (SFAS) No. 128, "Earnings per
Shares". Diluted EPS reflects the potential dilution of securities that could
share in the earnings.

ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
------------------------------------------------------------------------

The Company's accountant is Gately & Associates, LLC, CPAs, independent
certified public accountants. The Company does not presently intend to change
accountants. At no time has there been any disagreements with such accountants
regarding any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure.

PART III

ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS: COMPLIANCE
WITH SECTION 16(A) OF THE EXCHANGE ACT
----------------------------------------

The directors and officers of the Company and its subsidiaries, as of December
31, 2000, are set forth below. The directors hold office for their respective
term and until their successors are duly elected and qualified. Vacancies in the
existing Board are filled by a majority vote of the remaining directors. The
officers serve at the will of the Board of Directors.
<TABLE>
<CAPTION>
<S>                                 <C>           <C>
Name                                Age           Positions and Offices Held

Richard I. Anslow                   40            President/Secretary/Director
</TABLE>

BUSINESS EXPERIENCE

Set forth below is the name of the director and officer of the Company, all
positions and offices with the Company held, the period during which he has
served as such, and the business experience during at least the last five years:


                                       14
<PAGE>

Richard I. Anslow, Esq. has been the President, Secretary and Director of the
Company since the inception. He received a Bachelor of Science Degree in
Accounting from the State University of New York at Buffalo in 1982 and a Juris
Doctor Degree from Benjamin Cardozo School of Law in 1985. Mr. Anslow is a
principal of Anslow & Jaclin, LLP, a law firm based in Freehold, New Jersey.
Such firm commenced operations in 1993 under the name Richard I. Anslow &
Associates and changed its name to Anslow & Jaclin, LLP in January 2001. It
currently has three (3) full time attorneys.

CERTAIN LEGAL PROCEEDINGS

No director, nominee for director, or executive officer of the Company has
appeared as a party in any legal proceeding material to an evaluation of his
ability or integrity during the past five years.

COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT

On June 29, 2000, we filed a Form 3 for Richard I. Anslow. Such Form 3 was filed
late. A Form 5 will not be filed for the Company's year ended December 31, 2000
since all reportable transactions for such fiscal year were reported on Form 3's
filed with the Commission.

ITEM 10. EXECUTIVE COMPENSATION

The Company's officer and director does not receive any compensation for his
services rendered to the Company, has not received such compensation in the
past, and is not accruing any compensation pursuant to any agreement with the
Company. However, the officer and director of the Company anticipates receiving
benefits as a beneficial shareholder of the Company and, possibly, in other
ways.

No retirement, pension, profit sharing, stock option or insurance programs or
other similar programs have been adopted by the Company for the benefit of its
employees.

ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The Company has issued a total of 5,250,000 shares of Common Stock to the
following person for a total of $750 in cash:
<TABLE>
<CAPTION>
Name                       Number of Total Shares      Consideration       % of Shareholdings
----                       ----------------------      -------------       ------------------
<S>                        <C>                         <C>                 <C>
Richard I. Anslow          5,000,000                   $500                95.24%
</TABLE>

Mr. Anslow's shares were originally issued in the name of RGR Corp., a company
of which he is the sole director, shareholder and President. With respect to the
sales made to RGR Corp. the Company relied upon Section 4(2) of the Securities
Act of 1933, as amended (the "Securities Act") and Rule 506 promulgated
thereunder.

The address for Mr. Anslow is 4400 Route 9 South, 2nd Floor, Freehold, New
Jersey 07728.

                                       15
<PAGE>

ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.
-------------------------------------------------------

The Company currently uses the offices of management at no cost to the Company.
Management has agreed to continue this arrangement until the Company completes
an acquisition or merger.

PART IV

ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K
------------------------------------------

(a)   The following documents are filed as part of this report:

1.   Financial statements; see index to financial statements and schedules in
     Item 7 herein.

2.   Financial statement schedules; see index to financial statements and
     schedules in Item 7 herein.

3.  Exhibits:

The following exhibits are filed with this Form 10-KSB and are identified by the
numbers indicated; see index to exhibits immediately following financial
statements and schedules of this report.

                EXHIBIT INDEX

3.1      Articles of Incorporation (1)

3.3      By-laws  (1)

(1) Incorporated by reference to the Company's Form 10-SB (SEC File No.
0-30329).


                                       16
<PAGE>


                                   SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, there unto duly authorized.

                              Segway V Corp.

                              By: /S/ Richard I. Anslow
                              --------------------------
                                      Richard I. Anslow
                                      President and Director

Dated: April 3, 2001

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of the registrant and
in the capacities and on the dates indicated.
<TABLE>
<CAPTION>
NAME                                TITLE                        DATE
----                                -----                        ----

<S>                                 <C>                          <C>
/s/ Richard I. Anslow               President and Director       April 3, 2001
---------------------
    Richard I. Anslow
</TABLE>

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<PAGE>