UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  FORM 10-KSB/A
                                  -------------

                                 AMENDMENT NO. 1
                                  ANNUAL REPORT

        (X) ANNUAL  REPORT  PURSUANT  TO SECTION 13 OR 15 (d) OF THE  SECURITIES
            EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2001

        ( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
            EXCHANGE ACT OF 1934 (No Fee  Required)  For the  transition  period
            from        to
                ------    ------

                                     0-28330
                                     -------
                             Commission file number

                             TALK VISUAL CORPORATION
                             -----------------------
                   (Exact name of registrant as specified in its charter)

            Nevada                                      95-4561156
            ------                                      ----------
(State or other jurisdiction of              (IRS Employer Identification No.)
 incorporation or organization)

      3550 Biscayne Blvd. Suite 704
             Miami, Florida                                          33137
             --------------                                          -----
(Address of principal executive offices)                           (Zip Code)

                                       305-572-0575
                                       ------------
                   (Registrant's telephone number, including area code)

                                      Not Applicable
                                      --------------
               (Former name or former address, if changed since last report)


On March 29,  2002 Talk  Visual  Corporation  filed its Form 10-KSB for the year
ended  December  31,  2001.  Included  in  Item  7 -  Financial  statements  and
supplementary  data on  pages  29 and 30 were  the  Consolidated  Statements  of
Stockholders'  Equity  for the years  ended  December  31,  2001 and  2000.  The
statements as presented included typographical errors. However, the errors, once
corrected, did not change the ending balances as presented at December 31, 2001.
The  corrected  Consolidated  Statements of  Stockholders'  Equity for the years
ended  December  31, 2001 and 2000 are  included as Exhibit 99.1 to this current
report of Form 10-KSB/A.


Item 7. Financial Statements and Exhibits

Exhibit        99.1 - Consolidated  Statements of  Stockholders'  Equity for the
               years ended December 31, 2001 and 2000

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                                        SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

Date: September 13, 2002    TALK VISUAL CORPORATION


                            /s/ HARLEY L. ROLLINS
                            --------------------------------------------------
                                Harley L. Rollins  President,  Chief Executive
                                Officer and Chief Financial Officer (principal
                                executive officer and principal  financial and
                                accounting officer) and Director

                                       2