---

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, 2002**

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



******NEVADA**                                                 
**87-0403828**
                              
(State or other jurisdiction of                                     
(IRS Employer
                                
incorporation or organization)                                   
Identification No.)



Registrant's telephone number, including area code:**(801) 273.9300**

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, 2002:   $0.

As of January 14, 2003 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 January 14, 2003 the number of shares outstanding of the Registrant's Common Stock was 20,373,624.
..

---





---

Arizona Ventures, Inc. formerly China Global  Development,  Inc.; formerly  iBonzai.com,Inc.; (the  "Company").  The
Company initially was organized on December 26, 1991 as a Delaware  corporation under the name of Life Medical
Technologies,  Inc. which focused in the  business of  bringing  new medical  product technology  to the health care market
place.  In 1995,  the Company cut back its operations  and  eliminated  most  staffing.  From  1996 to  1999,  the  Company
maintained  a  skeleton  crew to  maintain  and ship  existing  orders.  By mid 1997, all employees were laid off.  By 1999, all
remaining  assets were distributed to its wholly  owned  subsidiary  (see  below) and sold off to two of its former employees.

By 1999, all subsidiaries were either sold off or allowed to lapse into  nonexistence.  As of December 31,
1999, only the parent corporation, Life Medical Technologies,Inc. remained.  In approximately  March of 2000, the
Company changed its name from Life Medical Technologies, Inc. to I-SIM International Corporation. Subsequently,
the Company changed its name back to Life Medical  Technologies,  Inc.

`In May  2000,  the  Company  acquired  all the of equity of  Virtual  Market Solutions.com,  Inc. (VMS), a  privately-held
Nevada  corporation  doing  business as iBonZai.com  ("iBonzai").   As  a  result  of  the  acquisition,  iBonZai  became  a  wholly-owned
subsidiary of the Company.  Due to the change in the Internet industry following the U.S.  market break in the spring of 2000, VMS
experienced substantial  obstacles  in  developing  its  business as a provider of broadband backbone,  billing services and technical
support to Internet service providers.  As  the  general  and  Internet  industry and   economic   conditions   continued  to deteriorate
during the first half of 2001,  management  suspended operations and laid  off all its  employees.  Following  the  events  of  September
11,  2001, management determined that it was in the best interest of the Company to rescind the acquisition of VMS.  Effective
November 28, 2001, the Company rescinded the acquisition  of VMS in an effort  to  complete  a  restructure  of the  Company's capital
and shed itself of debt.  The  financial  statements  for the year ended December 31, 2001 refer to  financial  numbers at December 31,
2000 in which the financial information of VMS has been removed (except for any debt guaranteed or assumed by the Company).  As
part of the rescission,  VMS retained all assets of the Company and the associated debt. As such,  9,250,000 shares of the Company's
common stock was rescinded,  and the Company's  additional  paid-in capital,  and accumulated deficit was returned to the books.

	The financial  statements  reflect  the  position  of the  Company  as if the acquisition  of  VMS  did  not  take  place,
however,  the  assumption  of certain liabilities remains with the Company as part of the rescission agreement. Due to the  assumption
of the  liabilities,  the expenses  for the Company  amounted to $129,320 and $1,150,594 for the years 2001 and 2000 respectively.`



On May 14, 2002, the Company acquired all of the issued and outstanding  shares of Rainbow  Light  Global
Corporation,  a British  Virgin  Islands  Corporation ("Rainbow"). Due to renewed deteriorations in the U.S. financial
equity markets, the Company was unable to raise any capital to fund its new acquisition.  Consequently, the Company
rescinded the acquisition of Rainbow and canceled all shares issued for that acquisition.  The Company is currently
searching for a new business opportunity to acquire or merge with.

---

**ITEM 2.  DESCRIPTION OF PROPERTY**

The Company currently maintains its corporate presence from the office of the Company's legal counsel and pays no
rent or expenses.



**ITEM 3.  LEGAL PROCEEDINGS**

The Company is not aware of any pending legal proceedings against it, and is not engaged in any legal proceedings
against any party.  The possibility exists that litigation  may arise from the  Company's  default on a building lease which the
Company has not occupied since 2000.

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

In January  2002,  a majority of the  Company's  shareholders  consented  to the Company  merging with a Nevada
subsidiary for the purpose of changing  domicile, changing its name to China Global Development, Inc. and a reverse split of
25:1 of the Company's common stock.

In September  2002, a majority of the Company's shareholders  ratified the    rescission
of Rainbow Light Global
Corporation and cancellation of 45 million shares issued in connection with the acquisition.

In October 2002,a majority of the shareholders consented to a 1 to 10 reverse split and a change of name to Arizona
Ventures, Inc. effective November 14, 2002.

---





---

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

The  company  currently has issued and  outstanding 20,373,624  shares of common stock owned by approximately
199  shareholders of record.  During the preceding two fiscal years the Company has not paid any dividends on its Common
Stock, and the Company does not  anticipate  that it will pay dividends in the  foreseeable future.  The future payment of
dividends,  if any, on the common stock is within the  discretion  of the Board of  Directors  and will  depend  on the  Company's
earnings,  its capital requirements,  and financial condition and other relevant factors. A history of the stock price of the
Company is as follows:

|Period       | High | Low 
|------------ | ---- | ----
|2000         |      |     
|1st  Quarter | $0   | $0  
|2nd  Quarter | 7.25 | 4.38
|3rd  Quarter | 6.25 | 2.38
|4th  Quarter | 4.13 | 0.88
|             |      |     
|2001         |      |     
|1st  Quarter | $.21 | $.17
|2nd Quarter  | .04  | .03 
|3rd  Quarter | .04  | .03 
|4th  Quarter | .03  | .02 
|             |      |     
|2002         |      |     
|1st Quarter  | N/A  | N/A 
|2nd Quarter  | N/A  | N/A 
|3rd Quarter  | N/A  | N/A 
|4th Quarter  | N/A  | N/A 

The Company has been researching the historical stock quotes under this symbol and has been unable to obtain the
historical  information.

The foregoing  quotes do not reflect the 1:25 reverse split  effected on January 15, 2002 or the 1:10 reverse split effected
on November 14, 2002. The Company's shares currently trade on the OTC:BB under the symbol
ARZV.

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

**Financial Condition**

Effective September 27, 2002, the Company rescinded the acquisition of Rainbow.  Therefore, the financial
statements reflect the position of the Company as if the acquisition of Rainbow did not take place.

The Company  reported no revenues for either the year ended September 30, 2002 or the year ended December 31,
2001.  The absence of revenues were a  result of  the rescission of  the acquisition of Rainbow.  Because  of the  rescinding  of
the  acquisition  of Rainbow,  the financial  statements  for the year ended   September  30, 2002 refer to financial information
at December 31, 2001 where the financial information of Rainbow has been removed (except for any debt guaranteed or
assigned by the Company).

As a result of the  foregoing, total stockholders equity for the  year ended September  30, 2002 was $961,219, as
compared to $958,365 at December 31, 2001.  The Company has no operating capital for future operations.

**Liquidity and Capital Resources**

As of September 30, 2002 and December 31, 2001, the Company had no cash,  current assets or assets of any kind,
but had  liabilities  $958,365 as of December 31, 2001 and $961,219 as of September 30, 2002.

**Results of Operations**

The Company reported a net loss of $94,752 for the year ended September 30, 2002, compared to a loss of $138,595
for the previous year. The Company anticipates very little or no overhead from future operations until a successor
business can be acquired or merged.

(a)(1)	The following financial statements of the Company and its subsidiaries have been filed as part of this report.

Independent Auditors' Report

Balance Sheets as of September 30, 2002.

Statements of Operations for the years ended September 30, 2002 and September 30, 2001.

Statement of Stockholders' Equity for the period from January 1, 2001 to September 30, 2002.

Statement of Cash Flows for the years ended September 30, 2002 and September 30, 2001.

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.

---

**Arizona Ventures, Inc.**

INDEPENDENT AUDITORS' REPORT

To the Board of Directors and Stockholders of
Arizona Ventures, Inc.
(Formerly China Global Development, Inc.)


We have audited the accompanying balance sheet of Arizona Ventures, Inc., (a Delaware
Corporation) as of September 30, 2002 and December 31, 2001, and the related statements of
income, retained earnings, and cash flows for the years 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 audits.

In our opinion, the financial statements referred to above present fairly, in all material respects, the
financial position of Arizona Ventures, Inc., at September 30, 2002 and December 31, 2001, and the
results of its operations and cash flows for the years then ended, in conformity with generally
accepted accounting principles, in the United States of America.

The accompanying financial statements have been prepared assuming that Arizona Ventures, Inc., will
continue as a going concern.  As discussed in Note #4 to the financial statements, Arizona Ventures,
Inc.,  has suffered recurring losses from operations and has a net capital deficiency that raises
substantial doubt about the Company's ability to continue as a going concern.  Management's plans
in regard to these matters are also described in Note #4.  The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.

Bierwolf, Nilson & Associates
Salt Lake City, UT
January 9, 2003

---



**Arizona Ventures, Inc.**(Formerly China Global Development, Inc.)
Balance Sheet



Total Assets$	-$	-



Current Liabilities:

Accounts Payable$		4,025$		5,305

Line of Credit-45,500

Interest Payable-                                
132,974

Short-term Loans461,229361,500

Shareholder Loans495,965398,586

Total Current Liabilities961,219943,865

Vehicle Loan-14,500

Total Long Term Liabilities-                                   
14,500

Total Liabilities961,219958,365

Stockholders's Equity:
Preferred Stock; 10,000,000 Shares
Authorized at $.001 Par Value;
No Shares Issued and Outstanding-                                    
-
Common Stock, 100,000,000 Shares
Authorized at $.001 Par Value;
373,681 and 21,618 Shares Issued and
Outstanding Respectively                                               
373                                 
21
Additional Paid in Capital                                     
2,285,758                     
2,194,212
Accumulated Deficit                                            
(3,247,350)                  
(3,152,598)


			Total Stockholders' Equity                                    
(961,219)(958,365)

Total Liabilities and Equity$	-$	-

---



September 30,        
December 31,
		                                                                                 
20022001

Revenues$	-$	-

Operating Expenses

General & Administrative22,72046,449

Total Operating Expenses22,72046,449

Operating Income (Loss)(22,720)(46,449)

Other Income (Expense)

Interest (Expense)(72,032)(92,146)

Total Other (Expense)(72,032)                    
(92,146)

Net (Loss)$		(94,752)$		(138,595)

Basic and Diluted Income
(Loss) per Share$		(0.70)$		 (6.59)

---





Preferred Stock	Common Stock	Paid-In	Accumulated
	                                                              
Stock   
 Amount    
Stock  
Amount  
CapitalDeficit

Balance, January 1, 2001-		$	-				19,694 	$		20 	$		2,127,505 	$		(3,014,003)

Shares Issued for Servicesat
 $.001 per Share                                       
-    
-    
400    
-  
100-

Shares Issued for Services
at $.001 per Share-     
-    
432          
-      
108-

Loss for the Period Ended
December 31, 2001-         
-        
 -         
 - 
 -(138,595)

Balance, December 31, 2001-			-				21,618 			21 			2,194,212 			(3,152,598)

Acquisition of Rainbow

Global-			-				4,500,000 			4,500 			40,500 		-

Shares Issued to Satisfy
Debt at $.01 Per Share-			-				150,000 			150 			9,748 		-

Shares Issued to Satisfy
Debt at $4.00 Per Share-			-				2,000 			2 			79,998 		-

Recission of Purchase
Agreement of Rainbow Global-			-				(4,500,000)			(4,500)			(40,500)		-

Shares Issued for Services
at $.001 Per Share-			-				200,000 			200 			1,800 		-

Rounding of Shares Due to
Reverse Stock Split-			-				63 		-			-			-

Loss for the Year Ended
September 30, 2002-	-	-	-	-		(94,752)

Balance, September 30, 2002-		$	-				373,681 	$		373 	$	`	2,285,758 	$		(3,247,350)



---







20022001

Cash Flows from Operating ActivitiesNet Income (Loss)                                                                         
$		(94,752)$		(138,595)

Adjustments to Reconcile Operating Income
To Net Cash Provided by Operating Activities:
Stock Issued/(Canceled) for Services2,000208

Changes in Current Assets and Liabilities:
Increase (Decrease) in Accounts Payable(1,280)5,305

Increase (Decrease) in Interest Payable(132,246)92,146

Net Cash Provided (Used) by
Operating Activities                                                                         
(226,278)(40,936)

Cash Flows from Investing Activities--

Net Cash Provided (Used) by
Investing Activities                                   
--

Cash Flows from Financing Activities:

Increase in Short Term Loans99,72940,936

Increase in Shareholder Loans126,549-

Net Cash Provided (Used) fromFinancing Activities                      
226,27840,936

Increase (Decrease) in Cash--

Cash at Beginning of Period--

Cash at End of Period$	-$	-

Supplemental Disclosure

Convert Debentures into Common Stock$		9,095$		66,500

Stock for Services2,000208

---





**Arizona Ventures, Inc.**

Arizona Ventures, Inc. ("the Company") was organized under the provisions of the state of Delaware
on December 26, 1991 as Life Medical Technologies, Inc.  From inception to December 31, 1995,
the Company operated as a development stage company according to the provisions of SFAS 7,
"Accounting and Reporting of Development Stage Enterprises".  At December 31, 1999, the
Company's financial statements consisted of no assets or liabilities, however, the Company had
common stock issued in the amount of $25,424; additional paid in capital of $1,838,110; and an
accumulated deficit of $(1,863,534).

Effective May 11, 2000, the Company acquired all of the equity of Virtual Market Solutions.com,
Inc., a privately-held Nevada Corporation, doing business as iBonZai.com ("VMS"), by issuing
9,250,000 shares of common stock in a reverse merger acquisition.

Due to the precipitous change in the Internet industry following the U.S. market break in the end of
the second quarter of 2000, VMS experienced substantial obstacles in developing its business as a
provider of broadband backbone, billing services and technical support to internet service providers.
As the general and Internet industry economic conditions continued to deteriorate during the first half
of 2001, management suspended operations and laid off all its employees.  Following the events of
September 11, 2001, management determined that it was in the best interest of the Company to
rescind the acquisition of VMS.  Effective November 28, 2001, the Company rescinded the
acquisition of VMS in an effort to complete a restructure of the Company's capital and shed itself of
debt.  As such, 9,250,000 shares of the Company's common stock was rescinded, and the Company's
additional paid-in capital, and accumulated deficit was returned to the books.

On January 10, 2002, the Company was merged into Ibonzai.com, Inc., a Nevada Corporation, for
the purposes of changing corporate domicile.  On January 15, 2002, the Company changed its name
to China Global Development, Inc., and effected a 1 for 25 reverse stock split.  Capitalization
remained at 100,000,000 shares of common stock having a par value of $.001 per share and
10,000,000 shares of preferred stock having a par value of $.001 per share.

On November 14, 2002, the Company changed its name to Arizona Ventures, Inc., and effected a 1
for 10 reverse stock split.  Capitalization remained at 100,000,000 shares of common stock with a
par value of $.001 per share and 10,000,000 shares of preferred stock with a par value of $.001 per
share.

---



**Arizona Ventures, Inc.**

NOTE 2 - Significant Accounting Policies

A.	The Company uses the accrual method of accounting.

B.	Revenues and directly related expenses are recognized in the period when the goods are
shipped to the customer.

C.	Primary Earnings Per Share amounts are based on the weighted average number of shares
outstanding at the dates of the financial statements.  Fully Diluted Earnings Per Shares shall
be shown on stock options and other convertible issues that may be exercised within ten years
of the financial statement dates.

D.	Use of Estimates: The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements and reported amounts of revenues and
expenses during the reporting period.  Actual results could differ from those estimates.

NOTE 3 - Income Taxes

The Company accounts for income taxes as related in Statement of Financial Standards No. 109
"Accounting for Income Taxes".

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,
2002 and earlier years; accordingly, no deferred tax liabilities have been recognized for all years.

The Company has cumulative net operating loss carryforwards of over $3,200,000 at September 30,
2002.  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, 2002 and December 31, 2001 have been offset by valuation
reserves of the same amount.

---







**Arizona Ventures, Inc.**

The Company's financial statements are prepared using generally accepted accounting principles
applicable to a going concern which contemplates the realization of assets and liquidation of liabilities
in the normal course of business.  Currently, the Company does not have significant cash or other
material assets, nor does it have an established source of revenues sufficient to cover its operating
costs and to allow it to continue as a going concern.  The Company is currently seeking equity
funding through private placements to raise sufficient funds to satisfy current debt.

NOTE 5 - Net Earnings (Loss) Per Share

Basic earnings (loss) per common share (BEPS) is based on the weighted average number of common
shares outstanding during each period.  Diluted earnings (loss) per common share is based on shares
outstanding (computed as under BEPS) and dilutive potential common shares.

The following data shows the shares used in the computing loss per common share including dilutive
potential common stock;

Common shares outstanding during the entire period.			135,029

Weighted average shares paid for, but not issued during the period.		-

Weighted average number of common shares used in basic EPSdilutive effect of options.			135,029

Weighted average number of common shares and dilutive potentialcommon shares used in diluted EPS.			135,029

NOTE 6 - Related Party Transactions

During the periods ending September 30, 2002 and December 31, 2001, shareholders of the Company
loaned the Company a total of $376,491.  The notes are unsecured, bear interest at rates between 8%
and 18%, and are due on demand.  On September 30, 2002, new promissory notes were signed which
included accrued interest as part of the principal balances of the notes at that date.  Accordingly,
accrued interest of $119,474 was reclassified as part of the principal balance of the notes.

---



**Arizona Ventures, Inc.**

NOTE 7 - Short Term Loans

Effective September 30, 2002, all of the Company's short term loans were renegotiated to include
accrued interest, at that date, as part of the principal balance.  Accordingly, $84,729 of accrued
interest has been reclassified as principal.

Short term loan, dated September 30, 2002, plus interest,payable annually at $18%, due on demand.$		135,050 	$		100,000

Short term loan, dated September 30, 2002, plus interest,payable annually at 8%, due on demand.                                     
297,680250,000

Short term loan, dated September 30, 2002, plus interest,
payable annually at 8%, due on demand.11,89010,000

Short term loan, dated September 30, 2002, plus interest,
payable annually at 8%, due on demand.1,6091,500

Short term loan, dated September 30, 2002, plus interest,
payable annually at 8%, due on demand.15,000-

Total Short Term Loans$		461,229$		361,500

Accrued interest on these loans at September 30, 2002 and December 31, 2001 was $-0- and
$55,422, respectively.

NOTE 8 - Stockholders' Equity

During the period ended September 30, 2002, the Company issued 4,500,000 post split shares of
common stock in exchange for all of the outstanding common shares of Rainbow Light Global
Corporation.  The shares were issued at par value for the acquisition.  During June 2002, the
acquisition of Rainbow Light Global Corporation was rescinded and the common shares returned and
cancelled.

During the year, the Company issued 152,000 post split shares in satisfaction of notes payable.
Additional paid-in capital has been increased by $89,746, representing the excess of the value of the
payable over the par value of the common stock.

On September 27, 2002, the Company issued 200,000 post split shares at par value for services
provided by the President of the Company in locating business investors.

---



**Arizona Ventures, Inc.**

The accompanying financial statements for December 31, 2001 have been restated to correct an error
related to an unrecorded note payable and related accrued interest.  During the period September 30,
2002, the note was converted to 150,000 post split shares of the Company's common stock.

The effect of this restatement for September 30, 2002 and December 31, 2001 is as follows:

September 30, 2002                    
December 31, 2001
                                                                       
As Previously    
As                    
As
Previously As
                                                                        
Reported          
 Restated                 
ReportedRestated

Balance Sheet:Notes Payable                        
$		495,965         
$		495,965              
$		389,491$		398,586

Interest Payable                                                      
-                         
-                      
132,246132,974

Accumulated Deficit(3,247,350)           
(3,247,350)(3,142,775)			(3,152,598)

Statement of Operations:General & Administrative

Expenses                                                           
22,720                 
22,720                
 37,35446,449

Interest Expense72,032                
72,032                  
91,41892,146

Net earnings (Loss)(97,752)               
(94,752)(128,772)			(138,595)

Net earnings (Loss) per commonand common equivalent share
Basic                                                                     
(.70)                   
(.70)                      
(6.12)(6.59)

Diluted(.70)                 
(.70)                       
(6.12)   (6.59)

Accumulated deficit as of January 1, 2002 has been increased by $9,823 for the effects of the restatement on
prior years.

---



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

In   connection,  with the audit of the fiscal year ended December 31, 2000 there were  no  disagreements
with  CPA  Network,  LLC on any  matter  of  accounting principles or practices,  financial statement
disclosure,  or auditing scope or procedures, which disagreements if not resolved to their satisfaction would
have caused them to make  reference in  connection  with their opinion to the subject matter of the
disagreement,  and the CPA Network LLC has not advised the Company of any reportable events.
          The 
accountants'  reports of CPA Network,  LLC on the 
financial  statements of iBonzai.com
(formerly Life Medical, Inc.) did not contain any adverse opinion or disclaimer
of opinion,  nor were they
qualified as to audit scope, or accounting principles,  but there was
the  uncertainty  of a going  concern  due
to lack of operations and operating capital.



---





---

As a result of the recission of Rainbow Light Global Corporation the former officers and directors
Bao Hua Zheng, Yu Chen Zhang, and Baldwin Yung resigned and were replaced by Paul Beatty as sole
officer and director.

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 OfficersAge                 
Director             
Position with
 Name                                        
(2002)              
SinceCompany

Paul F. BeattyPresident, CEO and Director
4766 South Holladay Boulevard
Holladay, Utah 84117

Paul F. Beatty, age 60, has been employed as the in-house accountant for Tri-State Motors in Cedar City,
Utah since approximately 1966.   He graduated with an associates degree in accounting from Souther Utah
University in Cedar City, Utah.   He has served 12 years as mayor of New Harmony, Utah.  Prior to that, he
was on the City Council for 14 years.  He volunteered 11 years for Search and Rescue, serving as the
commander and captain of that unit.

**ITEM 10.  EXECUTIVE COMPENSATION**

Compensation  of Executive  Officers and Directors.

During the year 2002, Paul F. Beatty, President and sole director was issued 2,000,000 pre reverse split
shares of common stock valued at $2000 for past services rendered on behalf of the Company.

None.

Compensation of Non-Employee Directors

None.

**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`

Paul F. Beatty20,200,000Common		     99%
4766 Holladay Blvd
Holladay City, UT 84117

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

During the year 2002, Paul F. Beatty, President and sole director was issued 2,000,000 pre reverse
split shares of common stock for past services rendered on behalf of the Company.

Subsequent to year end, 20,000,000 post split shares of common stock were issued to Paul Beatty,
for services rendered on behalf of the Company.

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

(a)	Exhibits

99.1  Written Statement of Chief Executive Officer and Chief Financial Officer with respect to
compliance with Section 13(a) or 15(d) of  the Securities Exchange Act of 1934.

(b)	The Company filed the following reports on form 8-K.

`(1)  On January 31, 2002 reporting a change in the state of  incorporation, a reverse split of the
company's shares and a change in management.

	(2)  On April 2, 2002 reporting a change in certifying accountants.

	(3)   Other events change in fiscal year end, acquisition of Rainbow Light Global Corporation, pro
forma statements and exhibits filed July 12, 2002.`

(3)  Changes in control of registrant filed October 29, 2002.



**ITEM 14.  CONTROLS AND PROCEDURES**

(a) Evaluation of disclosure controls and procedures.  The Company's principal executive officer and
its principal financial officer, based on their evaluation of the Company's disclosure controls and procedures
(as defined in Exchange Act Rules 13a-14 (c) as of a date within 90 days prior to the filing of this Annual
Report on Form 10KSB, have concluded that the Company's disclosure controls and procedures are
adequate and effective for the purposes set forth in the definition in Exchange Act rules.

(b) Changes in internal controls.  There were no significant changes in the Company's internal controls
or in other factors that could significantly affect the Company's internal controls subsequent to the date of
their evaluation.

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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.

Arizona Ventures, Inc.

By:	 Paul F. Beatty

/s/	 Paul F. Beatty
Dated: January 14,  2003



SIGNATURETITLEDATE



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SECTION 302 CERTIFICATION

1. I have reviewed this annual report on Form 10-KSB of Arizona Ventures, Inc.;

2. Based on my knowledge, this annual report does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in light of the circumstances under
which such statements were made, not misleading with respect to the period covered by this annual report.

3.  Based on my knowledge, the financial statements, and other financial information included in this
annual report, fairly present in all material respects the financial condition, results of operations and cash
flows of the registrant as of, and for, the periods presented in this annual report;

4. I am responsible for establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

a) Designed such disclosure controls and procedures to ensure that material information relating to the
registrant, including its consolidated subsidiaries, is made known to us by others within those entities,
particularly during the period in which this annual report is being prepared.

b) Evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within
90 days prior to the filing date of this annual report (the "Evaluation Date"); and

c) Presented in this annual report our conclusions about the effectiveness of the disclosure controls and
procedures based on our evaluation as of the Evaluation Date;

5. I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee
of registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies in the design or operation of internal controls which could adversely affect
the registrant's ability to record, process, summarize and report financial data and have identified for the
registrant's auditors any material weaknesses in internal controls; and

b) Any fraud, whether or not material, that involves management or other employees who have a
significant role in the registrant's internal controls; and

6.  I have indicated in this annual report whether or not there were significant changes in internal controls
or in other factors that could significantly affect internal controls subsequent to the date of our most recent
evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

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EXHIBIT 99.1



In connection with the Annual Report of Arizona Ventures, Inc., on Form
10-KSB for the period ending September 30, 2002 as filed with the Securities and Exchange Commission
on the date hereof (the "Report"), the undersigned, Paul F. Beatty, Chief Executive Officer and Principle
Accounting Officer  of the Company, certify, pursuant to 18 U.S.C  1350, as adopted pursuant to ss. 906
of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of section 13 (a) or 15 (d) of the Securities Exchange
Act of 1934; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and
result of operations of the Company.

Date: January 14 , 2003
Paul F. Beatty, Chief Executive Officer
And Principle Accounting Officer

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