UNITED STATES
                    SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C.

                               FORM 10-KSB

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

     For the fiscal year ended SEPTEMBER 30, 2000

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


                      Commission File No.  2-94704-NY

                            NTC HOLDINGS, INC.
               (Formerly National Thoroughbred Corporation)
          (Exact name of Registrant as specified in its charter)

                      NEW YORK                         11-2647209
          (State or other jurisdiction of             (IRS Employer
          incorporation or organization)           Identification No.)

       10200 WEST 444TH AVENUE, SUITE 400, WHEAT RIDGE, CO 80033
           (Address and zip code of principal executive offices)

Registrant's telephone number, including area code: (303) 422-8127

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

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.
 [ X ] YES     [   ] NO

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be
contained, to the best of Registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form
10-K or any amendment to this Form 10-K.    [ X  ]

Revenue for the year ended September 30, 2000:   $ 0.

As of December 21, 2000 it is unclear as to the aggregate market value of the
voting stock held by non-affiliates of the Registrant.  This is due to the low
or almost non-existing trading of the Registrant's Securities.

As of December 21, 2000 the number of shares outstanding of the Registrant's
Common Stock was 22,590,800.





                                  PART I



ITEM 1.  DESCRIPTION OF BUSINESS

          NTC Holdings Inc.,  ("the Company")was organized in May 1983 in the
State of New York under the name "National Thoroughbred Corporation."
Subsequently, the name was changed to "NTC Holdings, Inc."  Although
originally formed to engage in purchasing, breeding and selling Thoroughbred
horses, the company's management anticipates merging with an as yet
unidentified on-going business in the future.

          The Company is currently seeking a business opportunity merge with
or acquire, but to date has not located in any such business opportunities.
There is no assurance that the Company will be successful in finding any
business opportunity  to merge with or acquire.

ITEM 2.  DESCRIPTION OF PROPERTY

          The Company currently operates from the office of the Company's
President and pays no rent or expenses.

ITEM 3.  LEGAL PROCEEDINGS

          None

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS

          None - not applicable





                                  PART II



ITEM 5.  MARKET PRICE FOR REGISTRANT'S COMMON EQUITY AND
         RELATED STOCKHOLDER MATTERS

          Because this report is being prepared in 2000, the Company has not
been able to obtain any reliable trading history for the period reported.
During the year ended September 30, 2000 there appeared to be little or no
trading in the stock of the Company.  As of December 21, 2000, the Company had
approximately 164 shareholders of record.

          The Company has not declared any cash dividends on its Common Stock
since inception and its Board of Directors has no present intention of
declaring any dividends.  For the foreseeable future, the Company intends to
retain all earnings, if any, for use in the development and expansion of its
business.

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

FINANCIAL CONDITION

          The Company had no revenue during the year ended September 30, 2000.
Total stockholders' equity was  $(12,656), as compared to $(11,444) at
September 30, 1999. The Company has no operating capital for future operations.

LIQUIDITY AND CAPITAL RESOURCES

          The Company has no liquid assets and is currently in the process of
looking for business opportunities to merge with or acquire.  At minimum, the
Company will need to raise additional capital through private funding to
meet the financial needs of being a reporting company.  There is no guarantee
that the Company will be successful in obtaining necessary funding to develop
any business opportunities.

RESULTS OF OPERATIONS

          The Company reported a net loss of $(1,212) for the year ended
September 30, 2000, compared to a  loss of $(1,031) for the previous year.
The Company anticipates very little or no overhead from future operations until
a successor business can be acquired or merged.

ITEM 7.  FINANCIAL STATEMENTS

(a)(1)    The following financial statements of the Company and its
subsidiaries have been filed as part of this  report (see Item 8 "Financial
Statements and Supplementary Data"):

          Independent Auditors' Report

          Balance Sheets as of September 30, 2000.

          Statements of Operations for the years ended September 30, 2000 and
September 30, 1999.

          Statement of Stockholders' Equity for the period from October 1,
1998 to September 30, 2000.

          Statement of Cash Flows for the years ended September 30, 2000 and
September 30, 1999.

          Notes to Financial Statements.

  (2)     Schedules are omitted because of the absence of conditions under
which they are required or because the required information is given in the
financial statements or notes thereto.


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

          None.




                                 PART III



ITEM 9.  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

     The following information is furnished with respect to the Company's
Board of Directors and executive officers.  There are no family relationship
between or among any of the Company's directors or executive officers.

DIRECTORS AND EXECUTIVE OFFICERS
                           Age          Director
     Name                (2000)          Since         Position with the
Company
Dean Becker                 46           1997           President, CEO
and Director
324 South 400 West
Suite B
Salt Lake City UT 84101

Dean H. Becker, age 46 Practiced law in Sale Lake City, Utah since 1979.  He
graduated from Brigham Young University in 1976 with a Bachelors of Arts in
English with University Scholar designation.  He then attended law
school at the J. Reuben Clark School of Law at Brigham Young University where
he served as associate editor on the law review staff.

He has a general law practice with emphasis on corporate and business law, and
is involved in a number of community activities.

ITEM 10.  EXECUTIVE COMPENSATION

COMPENSATION OF EXECUTIVE OFFICERS AND DIRECTORS

     During the current fiscal year, no one in the Company's management
received more than $60,000 in compensation.

EMPLOYMENT AGREEMENTS AND OTHER COMPENSATION ARRANGEMENTS

     There are currently no agreements with members of management as to
employment or compensation.

COMPENSATION OF NON-EMPLOYEE DIRECTORS

     There is currently no compensation paid to non-employment directors.



ITEM 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

       Amount and Nature
      Name and Address          Of Beneficial   Percent of
      of Beneficial Owner          Ownership      Class

Dean Becker                        500,000        2.2%
6975 South Union Park Center
Suite 600
Salt Lake City UT 84047

Officers and Directors
    As a Group (one)           500,000            2.2%

Robert Kroft                 2,700,000          11.95%
1392 West Shelbrooke
South Jordan UT 84095

CLTC, LLC                    9,750,000          43.15%
6975 South Union Park Center
Suite 600
Salt Lake City UT 84047

Exchange Place Partners, LLC          3,000,000           13.28%
6975 South Union Park Center
Suite 600
Salt Lake City UT 84047

Andrew Chessman            1,664,000(1)          7.37%
6975 South Union Park Center
Suite 600
Salt Lake City UT 84047

(1) Ownership of 824,000 through Fountain Head Partners, Inc.

ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

      Other than executive compensation, during the reported year the
Registrant did not enter into any transactions with management which are to be
reported under this Item.

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

(A)   Exhibits
     EXHIBIT
     NO.                    DESCRIPTION

     23.01           Consent of Crouch, Bierwolf & Chisholm
     27.01           Financial Data Schedule

(b) The Registrant filed no current reports on Form 8-K during the last
quarter of the fiscal year ended September 30, 2000.

                                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, thereunto duly authorized.

                   NTC Holdings, Inc.

                   By: Dean Becker

                   /s/ Dean Becker

Dated: December 21, 2000

Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons of behalf of the
Registrant and in the capacities and on the dates indicated.


SIGNATURE                   TITLE                           DATE

/s/ Dean Becker             President and Director
                            (Principal Executive and
                             Financial Officer)             December 21, 2000






                       INDEX TO FINANCIAL STATEMENTS




Report of Independent Certified Public Accountant

Financial Statements:

       Balance Sheet - September 30, 2000.

       Statements of Operations - For the years ended September 30, 2000 and
September 30, 1999.

       Statement of Stockholders' Equity - For the period from October 1, 1997
to September 30, 2000.

       Statement of Cash Flows - For the years ended September 30, 2000 and
September 30, 1999.

       Notes to Financial Statements









                     INDEPENDENT AUDITOR'S REPORT

Stockholders and Directors
NTC Holdings, Inc.
Salt Lake City, Utah

     We have audited the accompanying balance sheet of NTC Holdings, Inc.(a
New York corporation) as of September 30, 2000 and the related statements of
operations, stockholders' equity, and cash flows for the years 2000 and 1999
then ended.  These financial statements are the responsibility of the
company's management.  Our responsibility is to express and 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 NTC Holdings, Inc.
at September 30, 2000, and the results of its operations and cash flows for
the years 2000 and 1999 then ended in conformity with generally accepted
accounting principles.

     The accompanying financial statements have been prepared assuming that
the Company will continue as a going concern.  As discussed in Note 5 to the
financial statements, the Company has minimal assets and no operations and is
dependent upon financing to continue operations.  These factors raise
substantial doubt about its ability to continue as a going concern.
Management's plans in regard to these matters are also described in the
Note 5.  The financial statements do not include any adjustments that might
result from the outcome of this uncertainty.





Salt Lake City, UT
November 21, 2000


                          NTC HOLDINGS, INC.
                            Balance Sheet


                                ASSETS

                                                September 30,
                                                      2000


     TOTAL ASSETS                    $               -


            LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES

     Accounts Payable                      $     5,108
     Taxes Payable (Note 2)
1,100
     Interest Payable (Note 3)                   1,321
     Notes Payable (Note 3)
5,127

     Total Current Liabilities
12,656


STOCKHOLDERS' EQUITY (DEFICIT)

     Common Stock 26,000,001 shares
        authorized at $.001 par value;
        22,590,800 shares issued and outstanding         22,591
     Capital in Excess of Par Value                      263,551
     Retained Deficit                                   (298,798  )

     Total Stockholders' Equity (Deficit)                (12,656
)

   TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)   $    -



                          NTC HOLDINGS, INC.
                       Statements of Operations


                                        For the Year         For the Year
                                        Ended                Ended
                                         September 30,       September 30,
                                               2000                  1999


REVENUE                                 $   -      $   -

EXPENSES

     Depreciation                            -           319
     Interest                               412          412

            Total Expenses                  412          731

NET INCOME (LOSS) - Before Taxes          $(412)   $    (731)

     Taxes (Note 1)                        800           300

INCOME (LOSS)              $            (1,212)  $     (1,031)

Loss Per Common Share (Note 1)             -     $        -

Average Outstanding Shares           22,590,800     22,590,800


                          NTC HOLDINGS, INC.
                  Statements of Stockholders' Equity
          From September 30, 1997 through September 30, 2000
                                                                  Deficit
                                                                 Accumulated
                                            Capital in          During
                        Common     Common    Excess of          Development
                        Shares     Stock    Par Value           Stage

Balance, September 30, 1998          22,590,800            22,591
263,551   (296,555)

Loss for the Year          -          -          -        (1,031)

Balance,
September 30, 1999    22,590,800      22,591      263,551      (297,586)

Loss for the Year          -           -          -            (1,212)

Balance, September
 30, 2000           22,590,800       22,591       263,551     (298,798)


                          NTC HOLDINGS, INC.
                       Statements of Cash Flows


                                       For the Year             For the Year
                                        Ended                       Ended
                                      September 30,              September 30,
                                         2000                     1999

CASH FLOWS FROM
     OPERATING ACTIVITIES
   Net Income (Loss)                     $  (1,212)             $ (1,031)
   Depreciation                               -                      319
   Increase (Decrease)
     in Accounts Payable/Interest Payable    1,212                   737
   Increase (Decrease) in Taxes Payable        -                     (25)
                                               -                      -

CASH FLOWS FROM
  INVESTING ACTIVITIES                         -                      -
                                               -                      -
CASH FLOWS FROM
  FINANCING ACTIVITIES                         -                      -
                                               -                      -

INCREASE (DECREASE) IN CASH
  AND CASH EQUIVALENTS                         -                       -

CASH AND CASH EQUIVALENTS
   AT THE BEGINNING OF PERIOD                  -                       -

CASH AND CASH EQUIVALENTS
  AT END OF PERIOD                       $     -     $                 -

CASH PAID DURING THE PERIOD FOR:
   Interest                              $    -      $                 -
   Income Taxes (Including
      Interest & Penalties               $    -      $               325



                          NTC HOLDINGS, INC.
                  Notes to the Financial Statements
                          September 30, 2000

NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES

     Organization and Business - The Company was organized in May 1983 in the
State of New      York under the name of "National Thoroughbred Corporation."
Subsequently, the name was changed to "NTC Holdings, Inc."  Although
originally formed to engage in purchasing, breeding and selling Thoroughbred
horses, the company's management anticipates merging  with an as yet
unidentified on-going business in the future.

NOTE 2 -INCOME TAXES

     The Company adopted Statement of Financial Standards No. 109 "Accounting
for Income taxes" in the fiscal year ended September 30, 1999 and was applied
retroactively.

     Statement of Financial Accounting Standards No. 109 " Accounting for
Income Taxes"  requires an asset and liability approach for financial
accounting and reporting for income tax purposes.  This statement recognizes
(a) the amount of taxes payable or refundable for the  current year and (b)
deferred tax liabilities and assets for future tax consequences of events
that have been recognized in the financial statements or tax returns.

     Deferred income taxes result from temporary differences in the
recognition of accounting transactions for tax and financial reporting
purposes.   There were no temporary differences  at September 30, 2000 and
earlier years; accordingly, no deferred tax liabilities have been
recognized for all years.

     The Company has cumulative net operating loss carryforwards of
approximately $290,000  at September 30, 2000.  No effect has been shown in
the financial statements for the net  operating loss carryforwards as the
likelihood of future tax benefit from such net operating loss carryforwards is
highly improbable.  Accordingly, the potential tax benefits of the net
operating loss carryforwards, estimated based upon current tax rates at
September 30, 2000 have been offset by valuation reserves of the same amount.

     The Company has available approximately $290,000 in net operating loss
carryforwards that will begin to expire in the year 2003.  The Company has
accrued $800 per year minimum state income taxes.


NOTE 3 -  NOTES PAYABLE

     In 1997, DHM Enterprises advanced $5,127 in funds for company operations.
The  board  of directors approved a convertible debenture instrument for the
accounts payable to  5,000,000 shares of common stock.  The debenture is due
on July 14, 2001 and has an interest rate of 8%.  The conversion feature is at
the option of the bond holder.




                          NTC HOLDINGS, INC.
                  Notes to the Financial Statements
                          September 30, 2000


NOTE 4 - USE OF ESTIMATES IN THE PREPARATION OF FINANCIAL STATEMENTS

     The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect reported  amounts of assets and liabilities,
disclosure of contingent assets and liabilities at the date of  the financial
statements and revenues and expenses during the reporting period.  In these
financial statements, assets, liabilities and earnings involve extensive
reliance on management's estimates.  Actual results could differ from those
estimates.

NOTE 5 - GOING CONCERN

     The Company's financial statements are prepared using generally accepted
accounting principles applicable to a going concern which contemplates the
realization of assets andliquidation of liabilities in the normal course of
business.  Currently, the Company has no cash or other material assets, nor
does it have an established source of revenues sufficient to cover  any
anticipated operating costs to allow it to continue as a going concern.  It is
the intent of the Company to find additional capital funding and/or a profitable
business venture to acquire  or merge.











We hereby consent to the use of our audit report of NTC Holdings, Inc. dated
November 21, 2000 for the year ended September 30, 2000 in the Form 10KSB
Annual Report for the year 2000.




s/s Crouch, Bierwolf & Chisholm

Salt Lake City, UT
November 21, 2000