UNITED STATES
                       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  quarterly  period
                  ended: September 30, 1998

[ ]               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: 000-24001

                                   JVWEB, INC.
        (Exact name of small business issuer as specified in its charter)

        Delaware                                        76-0552098
 (State or other jurisdiction of                     (I.R.S. Employer
  incorporation or organization                      Identification No.)

     5444 Westheimer, Suite 2080, Houston, Texas                  77056
     (Address of principal executive officer)                   (Zip Code)

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 __


APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
DURING THE  PRECEDING FIVE YEARS

         Check whether the registrant  filed all documents and reports  required
to be  filed  by  Section  12,  13 or  15(d)  of  the  Exchange  Act  after  the
distribution of securities under a plan confirmed by a court Yes
   No  ___

APPLICABLE ONLY TO CORPORATE ISSUERS

         The number of shares of common stock, $0.01 par value, outstanding as 
of September  30, 1998: 7,903,100 shares

Transitional Small Business Disclosure Format (check one):   Yes [  ]  No  [ X]




<PAGE>



                                   JVWEB, INC.
                         PERIOD ENDED SEPTEMBER 30, 1998

                                      INDEX

PART I.  FINANCIAL INFORMATION                           
<TABLE>
<CAPTION>
                                                                                                       Page
<S>                                                                                                     <C>                     
         Item 1.  Financial Statements

         Condensed financial statements of JVWeb, Inc.:

              Balance sheet as of September 30, 1998                                                      3

              Income  statements for the three months ended September 30, 1998
                  and period from October 28, 1997 (Date of Inception)
                  through September 30, 1998                                                              4

              Statement of stockholders' equity for the period from October
                  28, 1997  (Date of Inception) through September 30, 1998                                5

              Statements  of  cash  flows  for  the  three  months  ended
                  September  30, 1998 and period from  October 28, 1997 (Date of
                  Inception) through September 30, 1998                                                    6 

              Notes to financial statements                                                                7

         Item 2.  Management's Discussion and Analysis of Financial Condition
                  And Results of Operations                                                                8

PART II. OTHER INFORMATION

         Item 2.   Changes in Securities and Use of Proceeds                                               9

         Item 6.  Exhibits and Reports on Form 8-K.                                                         9

                             (a)Exhibits                                                                 

                             (b)Reports on Form 10-K
SIGNATURE                                                                                                 10
</TABLE>



<PAGE>


PART 1.   FINANCIAL INFORMATION

Item 1.   Financial Statements

                                  JV WEB, INC.
                          (A Development Stage Company)
                                  Balance Sheet
                            As of September 30, 1998
                                    UNAUDITED

         ASSETS
<TABLE>
<S>                                                                                       <C>

Cash                                                                                    $  6,539
Inventory                                                                                  8,946
Prepaid legal expenses                                                                    19,500
                                                                                          ------
                                                                                          34,985

Office equipment and furniture
  (net of $725 accumulated depreciation)                                                   3,665
                                                                                        --------

                                    TOTAL ASSETS                                        $ 38,650
                                                                                        ========


         LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
  Accounts payable                                                                      $ 14,797
  Notes payable - founding shareholder                                                    38,000
  Note payable - other                                                                     1,250
                                                                                        --------
         TOTAL CURRENT LIABILITIES                                                        54,047

STOCKHOLDERS' EQUITY
   Preferred stock, $.01 par, 10,000,000
         shares authorized, no shares issued
         or outstanding                                                                      -

   Common stock, $.01 par, 50,000,000
         shares authorized, 7,903,100 shares
         issued and outstanding                                                           79,031
   Paid in capital                                                                       259,668
   Accumulated deficit during the
         development stage                                                              (354,096)
                                                                                        -------- 
                                                                                        ( 15,397)
                                                                                        --------- 

         TOTAL LIABILITIES AND
                  STOCKHOLDERS' EQUITY                                                  $ 38,650
                                                                                        ========


</TABLE>







                                        See notes to financial statements.
<PAGE>

                                  JV WEB, INC.
                          (A Development Stage Company)
                                Income Statements
                 Three Months Ended September 30, 1998, and the
                      Period from October 28, 1997 (Date of
                      Inception)Through September 30, 1998
                                    UNAUDITED
<TABLE>
<CAPTION>

                                                                                   3 Months               Inception
                                                                                     Ended                 Through
                                                                                    Sept.30               Sept. 30
<S>                                                                                  <C>                   <C>  

REVENUES                                                                         $    16,315             $  16,505
COST OF SALES
                                                                                                                48
                                                                                    ---------              ---------

                                    Gross Margin                                  $   16,315                16,457

EXPENSES
  General and administrative                                                       $ 195,596               369,868
  Depreciation                                                                           195                   725
                                                                                   ---------             ---------

Net deficit accumulated during the
  development stage                                                                $(179,476)            $(354,096)
                                                                                    =========             =========


Net loss per common share                                                              ($.02)
Weighted average shares outstanding                                                7,261,638






</TABLE>





















                                        See notes to financial statements.
<PAGE>

                                  JV WEB, INC.
                          (A Development Stage Company)
                        Statement of Stockholders' Equity
                Period from October 28, 1997 (Date of Inception)
                           Through September 30, 1998
                                    UNAUDITED
<TABLE>
<CAPTION>

                                                                                                     Accumulated
                                                                                                       Deficit
                                                                                                      During the
                                                      Common Stock                   Paid in        Development
                                                   Shares           Amount           Capital            Stage               Totals
<S>                                                <C>               <C>                 <C>             <C>                  <C>  

Shares issued at
  inception to
  founding
  shareholder,
  for cash                                       6,200,000         $62,000           $ 7,516                               $ 69,516

Shares issued for:
  Cash                                           1,150,240          11,502           163,738                                175,240
  Services                                         482,860           4,829            89,114                                 93,943

Shares issued as a
  deposit on purchase
  of subsidiary                                     70,000             700           129,300                                130,000

Returnable shares                                                 (130,000)         (130,000)

Net deficit                                                                                           $(354,096)           (354,096)
                                                  ---------      ---------         ----------         ---------            --------

Balances,
  September 30, 1998                             7,903,100         $79,031          $259,668          $(354,096)          $( 15,397)
                                                 =========         =======          ========          ==========           =========
</TABLE>












                       See notes to financial statements.



<PAGE>


                                  JV WEB, INC.
                          (A Development Stage Company)
                            Statements of Cash Flows
                 Three Months Ended September 30, 1998, and the
                      Period from October 28, 1997 (Date of
                                   Inception)
                           Through September 30, 1998
                                    UNAUDITED
<TABLE>
<CAPTION>

                                                                                   3 Months               Inception
                                                                                     Ended                 Through
                                                                                    Sept.30               Sept. 30
<S>                                                                                  <C>                    <C>  
CASH FLOWS FROM OPERATIONS
  Net deficit                                                                      $(179,476)            $(354,096)
  Adjustments to reconcile net deficit
         to cash provided from operating
         activities
         Depreciation                                                                    195                   725
         Common stock issued for services                                             33,943                93,943
         Write off of deposits on purchase
           of subsidiary                                                              55,000                55,000
         Decrease in employee advance                                                  2,550
         Increase in inventory                                                      (  3,641)             (  8,946)
         Increase in prepaid legal expense                                                                ( 19,500)
         Increase in accounts payable                                                  7,316                14,797
                                                                                   ---------             ---------
NET CASH USED BY OPERATING ACTIVITIES                                               ( 84,113)             (218,077)
                                                                                   ---------             ---------

CASH FLOWS FROM INVESTING ACTIVITIES
  Purchase of equipment and furniture                                                                     (  4,390)
  Deposits on purchase of subsidiary                                                ( 30,000)             ( 55,000)
                                                                                   ---------             ---------
NET CASH USED BY INVESTING ACTIVITIES                                               ( 30,000)             ( 59,390)
                                                                                   ---------             ---------

CASH FLOWS FROM FINANCING ACTIVITIES
  Notes payable to founding shareholder                                                                     38,000
  Note payable - other                                                                                       1,250
  Issuance of common stock                                                           120,240               244,756
                                                                                   ---------             ---------
NET CASH PROVIDED BY FINANCING ACTIVITIES                                            120,240               284,006
                                                                                   ---------             ---------

         NET INCREASE IN CASH                                                          6,127                 6,539
                                                                                                         
         CASH ON JUNE 30, 1998                                                           412
                                                                                   ---------             ---------

         CASH ON SEPTEMBER 30, 1998                                                $   6,539             $   6,539
                                                                                   =========             =========
</TABLE>













                       See notes to financial statements.
<PAGE>

                                  JV WEB, INC.
                          NOTES TO FINANCIAL STATEMENTS


NOTE A - BASIS OF PRESENTATION

The accompanying unaudited interim financial statements of JV Web, Inc., a Texas
corporation  ("Company"),  have  been  prepared  in  accordance  with  generally
accepted  accounting  principles  and the rules of the  Securities  and Exchange
Commission ("SEC"), and should be read in conjunction with the audited financial
statements  and notes thereto  contained in the  Company's  latest Annual Report
filed  with  the  SEC  on  Form  10-KSB.  In  the  opinion  of  management,  all
adjustments,  consisting of normal recurring  adjustments,  necessary for a fair
presentation of financial position and the results of operations for the interim
periods  presented  have been  reflected  herein.  The results of operations for
interim periods are not necessarily indicative of the results to be expected for
the full year.  Notes to the  financial  statements  which  would  substantially
duplicate the disclosure  contained in the audited financial  statements for the
most recent  fiscal year ended June 30, 1998,  as reported in Form 10-KSB,  have
been omitted.


NOTE B - COMPREHENSIVE INCOME

As of July 1, 1998, the Company adopted Statement 130,  Reporting  Comprehensive
Income,  which  establishes  new  rules  for the  reporting  on net  income  and
comprehensive  income. As of September 30, 1998, the Company's  reporting is not
affected by this pronouncement.


NOTE C - DEPOSIT FORFEITURE

The Company  entered  into an  agreement on July 31, 1998 to acquire a financial
publication known as "Wall Street Whispers" from Time Financial  Services,  Inc.
("seller")  for $140,000.  As of September  30, 1998,  $55,000 had been paid for
this purchase. Due to stock market volatility and Company concerns about overall
financing,  the Company agreed to terminate the purchase obligation,  and seller
was  permitted to retain the $55,000.  Consequently,  the Company has recorded a
loss on this acquisition attempt.






















ITEM 2.  MANAGEMENT DISCUSSION AND ANALYSIS

         The period ending  September 30, 1998 was one of continued  development
of the Company's  business  model. The Company  maintains, on an on-going basis,
active efforts in pursuing its dual growth  strategy: 1) having a strong fee for
service division, and 2) establishing joint ventures with proven brands.

         In its fee for service  division,  the company is establishing the core
technical resources required to be a Strategic Internet Services Company. In the
joint venture division, the Company continues to evaluate branding opportunities
to partner up with.

         The revenues for the quarter , reported as $16,315, were consulting fee
revenues that are one-time fees.

     The material  elements of the general and  administrative  expenses for the
quarter of $195,596 were: 1) common stock issued for services,  $33,943,  2) the
write-off  due to the  termination  of  discussions  on the  acquisition  of the
Whispers newsletter,  $55,000, and 3) general operating expenditures of $84,113.
The Company  has reduced  operating  expenditures  significantly  in the present
quarter in response to the termination of the Wall Street  Whispers  acquisition
discussed below.

         On July 31, 1998, the Company entered into an Asset Purchase  Agreement
(the  "Agreement")  to acquire all of the assets  (collectively,  the  "Assets")
comprising  a  financial   publication  know  as  "Wall  Street  Whispers"  (the
"Publication").  The Agreement provided for periodic installment payments on the
purchase  price for the Assets and that title to the Assets would be transferred
to the  Company  upon full  payment of the  purchase  price.  Subsequent  to the
execution of the Agreement,  the decline in the stock market during August 1998,
the subsequent stock market volatility and the Company's concerns related to the
overall  financing  of  the  transaction,   raised  serious  doubts  as  to  the
desirability  of  consummating  the  acquisition of the  Publication.  After the
extension of the closing date for the  acquisition and sale of the Assets twice,
and after an exhaustive  analysis of this  acquisition and the  consideration of
several  additional  acquisition  opportunities,  the  Company  proposed  to the
sellers  of the  Assets  that they  mutually  terminate  the  proposed  sale and
acquisition  of the  Publication.  On October  30,  1998,  the  Company and such
sellers  executed  a  termination   agreement  and  mutual  releases,   mutually
terminating the proposed sale and acquisition.  Consistent with the terms of the
Agreement,  the  sellers  were  permitted  to retain all prior  payments  on the
purchase price for the Assets, which totaled $55,000.

PART II. OTHER INFORMATION

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

         During the quarter  ended  September  30, 1998,  the Company  issued to
George Gearner 20,000 shares of the Company's  common stock ("Common Stock") for
services rendered having a value determined to be $2,400. This issuance is 
claimed to be exempt pursuant to Regulation D under the Act.

         On May 12,  1998,  the  Company's  Registration  Statement on Form SB-2
(Commission File No. 333-43379) was declared effective by the U.S Securities and
Exchange  Commission.  The  Company's  Quarterly  Report on Form  10-QSB for the
quarter ended March 31, 1998  contained a detail  discussion  of the  securities
registered by this  Registration  Statement.  This  discussion  remains true and
correct as of the end of the quarter ended  September 30, 1998 except in certain
regards  discussed in the remainder of this paragraph.  First,  the Common Stock
and the Company's Class A Warrants ("Class A Warrants") have commenced  trading.
In addition, 10,240 Class A Warrants have been exercised, and proceeds from such
exercises in the aggregate  amount of $10,240 have been received by the Company.
All such proceeds have been used for general corporate purposes and were paid to
persons other than directors and officers of the Company and persons owning more
than 10% of any class of equity securities of the Company. Moreover, the Company
believes that LS Capital  Corporation has sold material numbers of the shares of
Common Stock and Class A Warrants previously owned by it.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         (a)      The following exhibits are filed with this Quarterly Report or
                  are incorporated herein by reference:

                  Exhibit
                  Number   Description

                   27      Financial Data Schedule

         (b)      Reports on Form 8-K

                  The Registrant filed a Current Report on Form 8-K dated August
                  13, 1998 reporting on the execution of an agreement to acquire
                  the  assets of a  financial  publication  named  "Wall  Street
                  Whispers."

                  The  Registrant  filed a  Current  Report  on Form  8-K  dated
                  November  6,  1998   reporting  on  the   termination  of  the
                  acquisition of Wall Street Whispers.

                                                     SIGNATURE

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

                             JVWEB, INC.
                             (Registrant)


                             By: /s/Greg J. Micek

                             Greg J. Micek, President
                             (Principal Executive Officer, Principal
                             Financial Officer and Principal Accounting Officer)

Dated: November 16, 1998






                                                  EXHIBITS INDEX

           Exhibit
           Number             Description


           27              Financial Data Schedule