SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 10-QSB

(X)      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
         EXCHANGE ACT OF 1934. For the Quarter ended December 31, 2005

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

  For the transition period from ____________________ to _____________________

                           Commission File No. 0-15862

                                    GVC VENTURE CORP.
--------------------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

             Delaware                                          13-3018466
---------------------------------------                    --------------------
(State or other jurisdiction of                             (I.R.S. Employer
incorporation or organization)                             Identification No.)

The Chrysler Building, 405 Lexington Avenue, Suite 2600, New York, NY      10174
--------------------------------------------------------------------------------
               (Address of principal executive offices)               (Zip Code)

Registrant's telephone number, including area code:  (212) 907-6610

         Check whether the issuer: (1) filed all reports required to be filed by
Section 13 or 15(d) of the  Exchange  Act during the past 12 months (or for such
shorter period that the  registrant was required to file such reports),  and (2)
has been subject to such filing requirements for the past 90 days.
Yes   X     No
     ---       ---

         Indicate by check mark whether the  registrant  is a shell  company (as
defined in Rule 12b-2 of the Exchange Act). Yes  X     No
                                                ---       ---

         State the number of shares outstanding of each of the issuer's classes
of common equity, as of latest practicable date: As of February 10, 2006, there
were 14,194,516 shares of Common Stock, $.01 par value per share outstanding.

Transitional Small Business Disclosure Format:       Yes         No  X
                                                         ---        ---



<PAGE>

Item 1.  Financial Statements

                       GVC VENTURE CORP. AND SUBSIDIARIES

                           CONSOLIDATED BALANCE SHEETS

                             (DOLLARS IN THOUSANDS)

<TABLE>
<CAPTION>

                                                         December 31,      June 30,
                                                            2005             2005
                                                         (Unaudited) (Audited)

                                                           -------         -------
ASSETS

<S>                                                       <C>             <C>
Current assets:

     Cash and cash equivalents                             $    72         $    44
                                                           -------         -------

         Total current assets                                   72              44
                                                           -------         -------

     Other assets                                                1               1
                                                           -------         -------

TOTAL ASSETS                                               $    73         $    45
                                                           =======         =======

LIABILITIES AND STOCKHOLDERS'
 EQUITY

Current liabilities:

     Accounts payable and other accrued expenses           $    90         $    90
                                                           -------         -------

         Total current liabilities                              90              90

Commitments and contingencies                                    -               -
                                                           -------         -------

TOTAL LIABILITIES                                               90              90
                                                           -------         -------

Stockholders' equity:

     Common stock, $.01 par value,  authorized
       50,000,000 shares, issued and outstanding
       14,194,516 shares                                       142             142
     Preferred stock, $.01 par value, authorized
       1,000,000 shares, none issued or outstanding              -               -
     Additional paid-in capital                              2,266           2,266
     Accumulated deficit                                    (2,425)         (2,453)
                                                           -------         -------
         Total stockholders' deficit                           (17)            (45)
                                                           -------         -------

TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY                                       $    73         $    45
                                                           =======         =======
</TABLE>

                 See notes to consolidated financial statements.

                                        2

<PAGE>

                       GVC VENTURE CORP. AND SUBSIDIARIES

                      CONSOLIDATED STATEMENTS OF OPERATIONS

                                   (UNAUDITED)
                    (DOLLARS IN THOUSANDS, EXCEPT SHARE DATA)

<TABLE>
<CAPTION>

                                                    Three Months Ended December 31,
                                                   --------------------------------
                                                       2005                 2004
                                                   ------------        ------------
<S>                                                <C>                 <C>
Fee Income                                                   30                   -

Expense:

         Corporate office expenses                            3                   7
                                                   ------------        ------------

         Total expense                                        3                   7
                                                   ------------        ------------

Income (loss) from operations                                27                  (7)
Income tax expense                                            -                   -
                                                   ------------        ------------

Net income (loss)                                  $         27        $         (7)
                                                   ============        ============
Basic and diluted income (loss) per share          $          -        $          -

Weighted average common shares outstanding:

         Basic and diluted                           14,194,516          14,194,516
                                                   ============        ============
</TABLE>


                 See notes to consolidated financial statements.

                                        3

<PAGE>

                       GVC VENTURE CORP. AND SUBSIDIARIES

                      CONSOLIDATED STATEMENTS OF OPERATIONS

                                   (UNAUDITED)
                    (DOLLARS IN THOUSANDS, EXCEPT SHARE DATA)

<TABLE>
<CAPTION>

                                                      Six Months Ended December 31,
                                                   --------------------------------
                                                       2005                 2004
                                                   ------------        ------------

<S>                                                <C>                 <C>
Fee Income                                                   40                   -

Expense:

         Corporate office expenses                           12                  10
                                                   ------------        ------------
         Total expense                                       12                  10
                                                   ------------        ------------
Income (loss) from operations                                28                 (10)
Income tax expense                                            -                   -
                                                   ------------        ------------

Net income (loss)                                  $         28        $        (10)
                                                   ============        ============

Basic and diluted income (loss) per share          $          -        $          -

Weighted average common shares outstanding:

         Basic and diluted                           14,194,516          14,194,516
</TABLE>

                 See notes to consolidated financial statements.

                                        4

<PAGE>

                       GVC VENTURE CORP. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                                   (UNAUDITED)

                             (DOLLARS IN THOUSANDS)

<TABLE>
<CAPTION>

                                                                          Six Months Ended December 31,

                                                                                ----------------
                                                                                2005        2004
                                                                                ----        ----

CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                                             <C>         <C>
Net income (loss)                                                               $ 28        $(10)

Adjustments to reconcile net income (loss) to cash provided by operating
     activities:

     Increase in other assets                                                      -          (1)
     Decrease in accounts payable and accrued expenses                             -         (23)
                                                                                ----        ----

     Net cash used by operating activities                                         -         (34)
                                                                                ----        ----
CASH FLOWS FROM INVESTING ACTIVITIES:                                              -           -

CASH FLOWS FROM FINANCING ACTIVITIES:                                              -           -
                                                                                ----        ----
     Net increase (decrease) in cash and cash equivalents                         28         (34)
     Cash and cash equivalents, beginning of period                               44          89
     Cash and cash equivalents, end of period                                   $ 72        $ 55
                                                                                ====        ====

Supplemental cash flow disclosures:

     Cash payments of interest                                                  $  -        $  -
     Cash payments of income taxes                                              $  2        $  1
</TABLE>

                See notes to consolidated financial statements.

                                        5

<PAGE>

                       GVC VENTURE CORP. AND SUBSIDIARIES
           CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
                   FOR THE SIX MONTHS ENDED DECEMBER 31, 2005
                             (DOLLARS IN THOUSANDS)

<TABLE>
<CAPTION>

                                                Common Stock                Paid-in        Accumulated
                                           Shares           Amount          Capital          Deficit           Total
                                          ----------    -----------     ------------     ------------      -----------
<S>                                       <C>           <C>             <C>              <C>               <C>
Balance, June 30, 2005 (audited)          14,194,516    $       142     $      2,266     $     (2,453)     $       (45)
Net income (unaudited)                             -              -                -               28               28
                                          ----------    -----------     ------------     ------------      -----------
Balance, December 31, 2005

(unaudited)                               14,194,516    $       142     $      2,266     $     (2,425)     $       (17)
                                          ==========    ===========     ============     ============      ===========
</TABLE>

                See notes to consolidated financial statements.

                                        6

<PAGE>

                       GVC VENTURE CORP. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                   ------------------------------------------

NOTE A - BASIS OF PRESENTATION:

The accompanying unaudited consolidated financial statements of GVC Venture
Corp. (the "Company") have been prepared in accordance with accounting
principles generally accepted in the United States of America (GAAP) for interim
financial information and with the instructions to Form 10-QSB and Article 10 of
Regulation S-X promulgated by the Securities and Exchange Commission.
Accordingly, they do not include all of the information and notes required by
GAAP 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 herein. The consolidated balance sheet
presented herein as of June 30, 2005 was derived from the Company's audited
consolidated financial statements as of and for the year ended June 30, 2005.
Operating results are not necessarily indicative of the results that may be
expected for the year ending June 30, 2006 or other future periods. For further
information, refer to the financial statements and notes thereto included in the
Company's Annual Report on Form 10-KSB for the fiscal year ended June 30, 2005.

NOTE B - NATURE OF OPERATIONS:

For several years, the Company has been engaged in no operating activities other
than seeking potential opportunities for an acquisition, sale, reverse merger or
other business combination with operating businesses and other appropriate
financial transactions, including a transaction with a privately held company
seeking to operate as a publicly-held company. On June 27, 2005, the Company
entered into an agreement with a development stage biopharmaceutical company
that in-licenses and develops novel therapeutics for the treatment of cancer,
principally prostate cancer. The agreement contemplated a subsidiary of the
Company merging with and into the biopharmaceutical company. On January 30,
2006, the Company notified the biopharmaceutical company that the Company was
terminating the Merger Agreement effective 12:01 a.m. on February 1, 2006. (See
"Management's Discussion and Analysis or Plan of Operation - Recent
Developments," on page 10.)

NOTE C - ESTIMATES:

The preparation of financial statements in conformity with U.S. generally
accepted accounting principles requires management to make estimates and
assumptions that affect certain reported amounts and disclosures. Accordingly,
actual results could differ from those estimates.

                                        7

<PAGE>

NOTE D - ACCOUNTS PAYABLE AND ACCRUED EXPENSES:

Accounts payable and accrued expenses consisted of the following at December 31,
2005 and June 30, 2005:

<TABLE>
<CAPTION>

                                               December 31,            June 30,
                                                      2005                2005
                                            ---------------          -------------
<S>                                         <C>                      <C>
           Administrative expenses          $        4,000           $       5,000
           Professional fees                        83,000                  83,000
           State and local taxes                     3,000                   2,000
                                            ---------------          -------------

           Total                            $       90,000           $      90,000
                                            ==============           =============
</TABLE>

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

GENERAL

For several years, including the quarters and six months ended December 31, 2005
and 2004, the Company has engaged in no operating activities, while seeking
potential opportunities for an acquisition, sale, merger, including a reverse
merger, or other business or financial transaction.

On June 27, 2005, the Company entered into a merger agreement with Cougar
Biotechnology, Inc. ("Cougar"), a development stage biopharmaceutical company
that in-licenses and develops novel therapeutics for the treatment of cancer,
principally prostate cancer. The agreement contemplated a subsidiary of the
Company merging with and into Cougar, with the Company remaining as a
publicly-held company. On January 30, 2006, the Company notified Cougar that it
was terminating the merger agreement effective 12:01 a.m. on February 1, 2006.
(See "Recent Developments," on page 10).

The Company plans to continue as a public entity and to actively seek other
merger (including a reverse merger), acquisition and business combination
opportunities with operating businesses or other business or financial
transactions, including with a privately-held company seeking to operate as a
publicly-held company. However, there can be no assurance that this plan will be
successfully implemented. The Company believes it has sufficient working capital
to continue its efforts for more than one year. At this time, the Company has no
other arrangements, commitments or understandings with respect to any potential
merger, acquisition or business combination candidate. The Company has not, to
date, set any specific criteria or models for any such other transaction.

Under the merger agreement with Cougar, as discussed under "Recent Developments"
on page 10, the Company was receiving monthly payments that have been sufficient
to offset its limited operating expenses. However, with the termination of the
merger agreement, since the Company does not expect to have active operations,
unless and until another transaction is effectuated, the Company does not expect
to achieve sufficient income to offset its

                                        8

<PAGE>

operating expenses, resulting in operating losses that are expected to require
the Company to use, and thereby reduce, its cash balance.

RESULTS OF OPERATIONS

Quarter and Six Months Ended December 31, 2005

Compared to the Quarter and Six Months Ended December 31, 2004

The Company received fees of $10,000 and $30,000 during the quarters ended
September 30, 2005 and December 31, 2005, respectively, or a total of $40,000
for the six months ended December 31, 2005, under a provision of the merger
agreement discussed under "Recent Developments," on page 10, enabling Cougar to
extend the merger agreement on a month by month basis through December 31, 2005
by paying a monthly fee of $5,000 from August 1, 2005 through September 30, 2005
and $10,000 per month thereafter. The Company had no revenues in the quarters
ended September 30, 2004 and December 31, 2004.

Corporate office expenses in the three and six months ended December 31, 2005
consisted of $3,000 and $12,000, respectively, compared to $7,000 and $10,000
for the respective same periods in 2004, primarily for rent, accounting, legal,
reporting and stockholder expenses. The increase in the 2005 six month period
over the 2004 six month period was due to costs incurred in connection with the
proposed merger with Cougar.

As a result of the fees received, the Company had net income of $1,000 in the
quarter ended September 30, 2005 and $27,000 in the quarter ended December 31,
2005, or a total of $28,000 for the six months then ended, compared to losses of
$3,000 and $7,000 in the quarter ended September 30, 2004 and in the quarter
ended December 31, 2004, respectively, or a total of $10,000 for the six months
ended December 31, 2004. The net income in each 2005 reported period was the
result of fees received under the merger agreement with Cougar, which has been
terminated as of February 1, 2006.

LIQUIDITY AND CAPITAL RESOURCES

The Company had cash on hand at December 31, 2005 of $72,000 compared to $44,000
at June 30, 2005 and $55,000 at December 31, 2004. The increase since June 30,
2005 was due primarily to the net income earned by the Company as a result of
monthly fees received under the merger agreement with Cougar.

The Company has no commitment for any capital expenditure. The Company's cash
requirements for the next twelve months are relatively modest, consisting
principally of rent, legal, accounting and other expenses relating to filings
required under the Securities Exchange Act of 1934, stockholder expenses and
other expenses that are expected to be incurred in its search for an
acquisition, candidate or other business or financial transaction.

The Company believes it has sufficient working capital to continue its efforts
for more than one year. The Company does not have any arrangements with banks or
other financial institutions with respect to the availability of financing in
the future.

                                       9
<PAGE>

OFF-BALANCE SHEET ARRANGEMENTS

The Company has no off-balance sheet financing arrangements within the meaning
of Item 303(c) of Regulation S-B.

RECENT DEVELOPMENTS

On January 30, 2006, the Company notified Cougar Biotechnology, Inc. ("Cougar")
that, pursuant to the terms of the Agreement and Plan of Merger, dated as of
June 27, 2005, by and among the Company, GVC Acquisition Corp. ("MergerCo") and
Cougar (the "Merger Agreement"), the Company was terminating the Merger
Agreement effective 12:01 a.m. on February 1, 2006.

Either party had the right to terminate the Merger Agreement if a closing did
not occur by July 31, 2005, with Cougar having the right to extend the Merger
Agreement for up to a maximum of five months by paying the Company $5,000 for
each month such termination date was extended. Pursuant to a First Amendment to
the Merger Agreement, on October 7, 2005, the parties agreed to increase the
cash payment to $10,000 for each month beyond September 30, 2005 that Cougar
elected to extend the Merger Agreement, with Cougar's right to extend the Merger
Agreement expiring on December 31, 2005. On December 30, 2005, the parties
entered into a Second Amendment to the Merger Agreement under which, among other
things, the Company agreed to extend the date after which the Company was
entitled to terminate the Merger Agreement to January 31, 2006 and Cougar paid
the Company $20,000, of which $10,000 represented the fee payable for extending
the Merger Agreement through January 31, 2006 and $10,000 represented an advance
by Cougar of the fee payable by it in the event the Company terminated the
Merger Agreement under the circumstances in which the Company terminated the
Merger Agreement. The Company is not obligated to make any payments to Cougar in
connection with the termination of the Merger Agreement.


                                       10
<PAGE>


FORWARD LOOKING STATEMENTS

Certain statements in this Report are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. When used in
this Report, words such as "may," "should," "seek," "believe," "expect,"
"anticipate," "estimate," "project," "plan," "goal," "intend," "strategy" and
similar expressions are intended to identify forward-looking statements
regarding events, conditions and financial trends that may affect the Company's
future plans, operations, business strategies, operating results and financial
position. Forward-looking statements are subject to a number of known and
unknown risks and uncertainties that could cause the Company's actual results,
performance or achievements to differ materially from those described or implied
in the forward-looking statements and its goals and strategies to not be
achieved.

These risks and uncertainties, many of which are not within the Company's
control, include, but are not limited to:

o        The Company's ability to find a candidate for, enter into an agreement
         with respect to, and consummate a merger, acquisition or business
         combination or other financial transaction that is acceptable, both as
         to the candidate and as to transaction terms and conditions;

o        competition for transactions of the nature the Company is seeking;

o        potential future regulatory restrictions that could limit or pose
         restrictions on, or make less advantageous to potential candidates,
         transactions of the nature the Company is seeking;

o        the availability of additional financing on satisfactory terms if a
         delay is encountered in consummating a transaction that the Company is
         seeking; and

o        general economic and business conditions.

You are cautioned not to place undue reliance on forward-looking statements,
which speak only as of the date of this Report. The Company does not undertake
any responsibility to publicly update or revise any forward-looking statement or
report.


                                       11
<PAGE>

ITEM 3.       CONTROLS AND PROCEDURES

         As of the end of the period covered by this Report, the Company's
President, who is its principal executive officer and is also its Treasurer and
principal financial officer, evaluated the effectiveness of the Company's
"disclosure controls and procedures," as defined in Rule 13a-15(e) under the
Securities Exchange Act of 1934. Based on that evaluation, this officer
concluded that, as of the date of his evaluation, the Company's disclosure
controls and procedures were effective to provide reasonable assurance that
information required to be disclosed in the Company's periodic filings under the
Securities Exchange Act of 1934 is accumulated and communicated to management,
including that officer, to allow timely decisions regarding required disclosure.

         During the period covered by this Report, there were no changes in the
Company's internal control over financial reporting that have materially
affected, or are reasonably likely to materially affect, the Company's internal
control over financial reporting.

                           PART II. OTHER INFORMATION

ITEM 6.  EXHIBITS

         Exhibit
         Number     Description
         ------     -----------

         31       Certificate of the Principal Executive Officer and Principal
                  Financial Officer pursuant to Section 302 of the
                  Sarbanes-Oxley Act of 2002.

         32       Certificate of the Principal Executive Officer and Principal
                  Financial Officer pursuant to 18 U.S.C. Section 1350 as
                  adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
                  2002.


                                       12
<PAGE>

                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
this Report has been signed below on its behalf by the undersigned thereunto
duly authorized.

                                    GVC VENTURE CORP.



Date:    February 13, 2006          By:  /s/ Bernard Zimmerman
                                         ---------------------------------------
                                         Bernard Zimmerman, President
                                         (Principal Executive Officer) and
                                         Treasurer (Principal Financial and
                                         Accounting Officer)


                                       13
<PAGE>

                                  EXHIBIT INDEX

         Exhibit
         Number       Description
         ------       -----------

         31       Certificate of the Principal Executive Officer and Principal
                  Financial Officer pursuant to Section 302 of the
                  Sarbanes-Oxley Act of 2002.

         32       Certificate of the Principal Executive Officer and Principal
                  Financial Officer pursuant to 18 U.S.C. Section 1350 as
                  adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
                  2002.