U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                   FORM 10-KSB


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


For year ended December 31, 2001                     Commission File No. 0-28575


                       RENEGADE VENTURE (NEV.) CORPORATION
                       -----------------------------------
             (Exact name of registrant as specified in its charter)

                  NEVADA                                 84-1108499
      (State or other jurisdiction of       (I.R.S. Employer Identification No.)
      incorporation or organization)

       90 Madison Street, Suite 707
          Denver, Colorado 80206                       (303) 355-3000
(Address of Principal's Executive Offices)       (Registrant's Telephone No.
                                                      incl. area code)

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

     Securities registered pursuant to
       Section 12(g) of the Act:               Common stock, $.001 par value

     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 such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing
requirements for at least the past 90 days.

     Yes   X     No
         -----      -----

     Indicate by check mark if no disclosure of delinquent filers in response to
Item 405 of Regulation S-B is contained in this form, and no disclosure will 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-KSB
or any amendment to this Form 10-KSB.

     Yes   X     No
         -----      -----

     The registrant's revenues for its most recent fiscal year were $-0-.

     The aggregate market value of the 122,875 shares of common stock of the
registrant held by non-affiliates on December 31, 2001, was approximately
$45,078.00


     At December 31, 2001, a total of 320,000 shares of common stock were
outstanding.

<PAGE>


                                TABLE OF CONTENTS




                                     PART I


Item 1. Description of Business ...........................................    3

Item 2. Description of Property ...........................................   11

Item 3. Legal Proceedings .................................................   11

Item 4. Submission of Matters to a Vote of Security Holders ...............   11


                                    PART II


Item 5. Market for the Registrant's Common Equity
        and Related Stockholder Matters ...................................   12

Item 6. Management's Discussion and Analysis or Plan of Operation .........   12

Item 7. Financial Statements ..............................................   14

Item 8. Changes in and Disagreements with Accountants
        on Accounting and Financial Disclosure ............................   14


                                    PART III


Item 9. Directors, Executive Officers, Promoters and Control Persons;
        Compliance with Section 16(a) of the Exchange Act .................   14

Item 10. Executive Compensation ...........................................   17

Item 11. Security Ownership of Certain Beneficial Owners and Management ...   18

Item 12. Certain Relationships and Related Transactions ...................   19

Item 13. Exhibits and Reports on Form 8-K .................................   19


Index to Financial Statements .............................................   21


Financial Statements ......................................................  F-1


Signatures ................................................................   22


                                       2
<PAGE>


                           FORWARD-LOOKING STATEMENTS

     This report contains certain forward-looking statements and information
relating to Renegade that are based on the beliefs of its management as well as
assumptions made by and information currently available to its management. When
used in this report, the words "anticipate", "believe", "estimate", "expect",
"intend", "plan" and similar expressions, as they relate to Renegade or its
management, are intended to identify forward-looking statements. These
statements reflect management's current view of Renegade concerning future
events and are subject to certain risks, uncertainties and assumptions,
including among many others: a general economic downturn; a downturn in the
securities markets; a general lack of interest for any reason in going public by
means of transactions involving public blank check companies; federal or state
laws or regulations having an adverse effect on blank check companies,
Securities and Exchange Commission regulations which affect trading in the
securities of "penny stocks," and other risks and uncertainties. Should any of
these risks or uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in this
report as anticipated, estimated or expected. Readers should realize that
Renegade is in the development stage, with only very limited assets, and that
for Renegade to succeed requires that it either originate a successful business
(for which it lacks the funds) or acquire a successful business. Renegade's
realization of its business aims as stated herein will depend in the near future
principally on the successful completion of its acquisition of a business, as
discussed below.

                                     PART I

Item 1. DESCRIPTION OF BUSINESS.

BACKGROUND

     Renegade Venture (Nev.) Corporation, a Nevada corporation ("Renegade" or
the "Company"), is in the development stage in accordance with Financial
Accounting Standards Board Standard No. 7, and is the successor by merger to
Renegade Venture Corporation, a Colorado corporation ("Renegade Colorado"). The
merger occurred effective September 22, 1997, for the sole purpose of
reincorporating the Company from the State of Colorado to the State of Nevada.

     Renegade has not been operational, other than occasionally searching for a
business or venture to acquire, as described below, or had revenues other than
interest income since its inception. On May 4, 1990, Renegade Colorado completed
a small public offering of its securities made pursuant to a registration
statement of Form S-18, selling 5,000,000 of 7,500,000 units offered, at the
price of $.02 per unit. In this offering Renegade Colorado realized net proceeds
of $61,476 on gross proceeds of $100,000 raised in the offering. Each unit sold
consisted of TWO shares of common stock of Renegade Colorado, $.0001 par value,
and ONE Class A Common Stock Purchase Warrant, exercisable until December 7,
1991, at a price of $.02 to purchase one share of Renegade Colorado common stock
and one Class B Common Stock Purchase Warrant. All of the Class A and Class B
warrants expired without having been exercised.

EXCHANGE ACT REGISTRATION

     Renegade has voluntarily a registration statement on Form 8-A with the
Securities and Exchange Commission ("SEC" or "Commission") in order to register
Renegade's common stock under Section 12(g) of the Securities Exchange Act of
1934, as amended ("Exchange Act"). Renegade is required to file quarterly,
annual and other reports and other information with the SEC as required by the
Exchange Act. If Renegade's duty to file reports under the Exchange Act is
suspended, Renegade intends to nonetheless continue filing reports on a
voluntary basis if it is able to do so.

                                       3
<PAGE>


PROPOSED BUSINESS

     Renegade intends to enter into a business combination with one or more as
yet unidentified privately held businesses. Management believes that Renegade
will be attractive to privately held companies interested in becoming publicly
traded by means of a business combination with Renegade, without offering their
own securities to the public. Renegade will not be restricted in its search for
business combination candidates to any particular geographical area, industry or
industry segment, and may enter into a combination with a private business
engaged in any line of business. Management's discretion is, as a practical
matter, unlimited in the selection of a combination candidate. Renegade has not
entered into any agreement, arrangement or understanding of any kind with any
person regarding a business combination.

     Depending upon the nature of the transaction, the current officers and
directors of Renegade probably will resign their directorship and officer
positions with Renegade in connection with Renegade's consummation of a business
combination. See "Form of Acquisition" below. Renegade's current management will
not have any control over the conduct of Renegade's business following
Renegade's completion of a business combination.

     It is anticipated that business opportunities will come to Renegade's
attention from various sources, including its management, its other
stockholders, professional advisors such as attorneys and accountants,
securities broker-dealers, venture capitalists, members of the financial
community, and others who may present unsolicited proposals. Renegade has no
plans, understandings, agreements, or commitments with any individual or entity
to act as a finder of or as a business consultant in regard to any business
opportunities for Renegade. There are no plans to use advertisements, notices or
any general solicitation in the search for combination candidates.

     PRE-COMBINATION ACTIVITIES. Renegade is a "blank check" company, defined as
an inactive, publicly quoted company with nominal assets and liabilities. With
these characteristics, management believes that Renegade will be attractive to
privately held companies interested in becoming publicly traded by means of a
business combination with Renegade, without offering their own securities to the
public. The term "business combination" (or "combination") means the result of
(i) a statutory merger of a combination candidate into or its consolidation with
Renegade or a wholly owned subsidiary of Renegade formed for the purpose of the
merger or consolidation, (ii) the exchange of securities of Renegade for the
assets or outstanding equity securities of a privately held business, or (iii)
the sale of securities by Renegade for cash or other value to a business entity
or individual, and similar transactions.

     A combination may be structured in one of the foregoing ways or in any
other form which will result in the combined entity being a publicly held
corporation. It is unlikely that any proposed combination will be submitted for
the approval of Renegade's shareholders prior to consummation. Pending
negotiation and consummation of a combination, Renegade anticipates that it will
have no business activities or sources of revenues and will incur no significant
expenses or liabilities other than expenses related to ongoing filings required
by the Exchange Act, or related to the negotiation and consummation of a
combination.

     Renegade anticipates that the business opportunities presented to it will
(1) be recently organized with no operating history, or a history of losses
attributable to under-capitalization or other factors; (2) be experiencing
financial or operating difficulties; (3) be in need of funds to develop a new
product or service or to expand into a new market; (4) be relying upon an
untested product or marketing concept; or (5) have a combination of the
foregoing characteristics. Given the above factors, it should be expected that
any acquisition candidate may have a history of losses or low profitability.

     Renegade will not be restricted in its search for business combination
candidates to any particular geographical area, industry or industry segment,
and may enter into a combination with a private business engaged in any line of
business, including service, finance, mining, manufacturing, real estate, oil
and gas, distribution, transportation, medical, communications, high technology,
biotechnology or any other. Management's discretion is, as a practical matter,
unlimited in the selection of a combination candidate. Management of Renegade
will seek combination candidates in the United States and other countries, as
available time permits, through existing associations and by word of mouth.

                                       4
<PAGE>


     Renegade has not entered into any agreement or understanding of any kind
with any person regarding a business combination. There is no assurance that
Renegade will be successful in locating a suitable combination candidate or in
concluding a business combination on terms acceptable to Renegade. Renegade's
Board of Directors has not established a time limitation by which it must
consummate a suitable combination; however, if Renegade is unable to consummate
a suitable combination within a reasonable period, such period to be determined
at the discretion of Renegade's Board of Directors, the Board of Directors will
probably recommend its liquidation and dissolution. It is anticipated that
Renegade will not be able to diversify, but will essentially be limited to one
such venture because of Renegade's lack of capital. This lack of diversification
will not permit Renegade to offset potential losses from one acquisition against
profits from another, and should be considered an adverse factor affecting any
decision to purchase Renegade's securities.

     Renegade's board of directors has the authority and discretion to complete
certain combinations without submitting them to the stockholders for their prior
approval. Renegade's shareholders should not anticipate that they will have any
meaningful opportunity to consider or vote upon any candidate selected by
Renegade management for acquisition. Generally, the prior approval of Renegade's
shareholders will be required for any statutory merger of Renegade with or into
another company, but shareholder approval will not be required if the following
requirements are met: (1) Renegade's articles of incorporation will not change
as a result of the merger; (2) following the merger, each person who was a
Renegade shareholder immediately prior to the merger will on the effective date
of the merger continue to hold the same number of shares, with identical
designations, preferences, limitations and relative rights; and (3) the number
of Renegade voting and participating shares which are outstanding prior to the
merger is not increased more than 20% as a result of the merger, giving effect
to the conversion of convertible securities and the exercise of warrants,
options and other rights issued in the merger. It is likely, however, in
management's opinion that any combination entered into by Renegade that takes
the form of a merger will result in the issuance of additional shares exceeding
the 20% limitation. Shareholder approval also will not be required as to any
"short-form merger," meaning the merger into Renegade of a company in which
Renegade already owns 90% or more of the equity securities. Moreover, in the
event that a business combination occurs in the form of a stock-for-stock
exchange or the issuance of stock to purchase assets, the approval of Renegade's
shareholders will not be required by law so long as it is Renegade that acquires
the shares or assets of the other company.

     However, it is anticipated that Renegade's shareholders will, prior to
completion of any combination, be given information about the candidate
company's business, financial condition, management and other information
required by ITEMs 6(a), (d), (e), 7 and 8 of Schedule 14A of Regulation 14A
under the Exchange Act, which is substantially the same information as required
in a proxy statement.

     COMBINATION SUITABILITY STANDARDS. The analysis of candidate companies will
be undertaken by or under the supervision of Renegade's President, who is not a
professional business analyst. See "MANAGEMENT" below.

     To a large extent, a decision to participate in a specific combination may
be made upon management's analysis of the quality of the candidate company's
management and personnel, the anticipated acceptability of new products or
marketing concepts, the merit of technological changes, the perceived benefit
the candidate will derive from becoming a publicly held entity, and numerous
other factors which are difficult, if not impossible, to objectively quantify or
analyze. In many instances, it is anticipated that the historical operations of
a specific candidate may not necessarily be indicative of the potential for the
future because of the possible need to shift marketing approaches substantially,
expand significantly, change product emphasis, change or substantially augment
management, or make other changes. Renegade will be dependent upon the owners
and management of a candidate to identify any such problems which may exist and
to implement, or be primarily responsible for the implementation of, required
changes. Because Renegade may participate in a business combination with a newly
organized candidate or with a candidate which is entering a new phase of growth,
it should be emphasized that Renegade will incur further risks, because
management in many instances will not have proved its abilities or
effectiveness, the eventual market for the candidate's products or services will
likely not be established, and the candidate may not be profitable when
acquired.

                                       5
<PAGE>


     Otherwise, Renegade anticipates that it may consider, among other things,
the following factors:

     1.   Potential for growth and profitability, indicated by new technology,
          anticipated market expansion, or new products;

     2.   Renegade's perception of how any particular candidate will be received
          by the investment community and by Renegade's stockholders;

     3.   Whether, following the business combination, the financial condition
          of the candidate would be, or would have a significant prospect in the
          foreseeable future of becoming sufficient to enable the securities of
          Renegade to qualify for listing on an exchange or on NASDAQ, so as to
          permit the trading of such securities to be exempt from the
          requirements of the federal "penny stock" rules adopted by the SEC.

     4.   Capital requirements and anticipated availability of required funds,
          to be provided by Renegade or from operations, through the sale of
          additional securities, through joint ventures or similar arrangements,
          or from other sources;

     5.   The extent to which the candidate can be advanced;

     6.   Competitive position as compared to other companies of similar size
          and experience within the industry segment as well as within the
          industry as a whole;

     7.   Strength and diversity of existing management, or management prospects
          that are scheduled for recruitment;

     8.   The cost of participation by Renegade as compared to the perceived
          tangible and intangible values and potential; and

     9.   The accessibility of required management expertise, personnel, raw
          materials, services, professional assistance, and other required
          items.

     No one of the factors described above will be controlling in the selection
of a candidate. Potentially available candidates may occur in many different
industries and at various stages of development, all of which will make the task
of comparative investigation and analysis of such business opportunities
extremely difficult and complex. It should be recognized that, because of
Renegade's limited capital available for investigation and management's limited
experience in business analysis, Renegade may not discover or adequately
evaluate adverse facts about the opportunity to be acquired. Renegade cannot
predict when it may participate in a business combination. It expects, however,
that the analysis of specific proposals and the selection of a candidate may
take several months or more.

     Management believes that various types of potential merger or acquisition
candidates might find a business combination with Renegade to be attractive.
These include acquisition candidates desiring to create a public market for
their shares in order to enhance liquidity for current shareholders, acquisition
candidates which have long-term plans for raising capital through the public
sale of securities and believe that the possible prior existence of a public
market for their securities would be beneficial, and acquisition candidates
which plan to acquire additional assets through issuance of securities rather
than for cash, and believe that the possibility of development of a public
market for their securities will be of assistance in that process. Acquisition
candidates which have a need for an immediate cash infusion are not likely to
find a potential business combination with Renegade to be an attractive
alternative.

     Prior to consummation of any combination (other than a mere sale by
Renegade insiders of a controlling interest in Renegade's common stock) Renegade
intends to require that the combination candidate provide Renegade the financial
statements required by ITEM 310 of Regulation S-B, including at the least an
audited balance sheet as of the most recent fiscal year end and statements of
operations, changes in stockholders' equity and cash flows for the two most
recent fiscal years, audited by certified public accountants acceptable to
Renegade's management, and the necessary unaudited interim financial statements.

                                       6
<PAGE>


Such financial statements must be adequate to satisfy Renegade's reporting
obligations under Section 15(d) or 13 of the Exchange Act. If the required
audited financial statements are not available at the time of closing, Renegade
management must reasonably believe that the audit can be obtained in less than
60 days. This requirement to provide audited financial statements may
significantly narrow the pool of potential combination candidates available,
since most private companies are not already audited. Some private companies
will either not be able to obtain an audit or will find the audit process too
expensive. In addition, some private companies on closer examination may find
the entire process of being a reporting company after a combination with
Renegade too burdensome and expensive in light of the perceived potential
benefits from a combination.

     FORM OF ACQUISITION. It is impossible to predict the manner in which
Renegade may participate in a business opportunity. Specific business
opportunities will be reviewed as well as the respective needs and desires of
Renegade and the promoters of the opportunity and, upon the basis of that review
and the relative negotiating strength of Renegade and such promoters, the legal
structure or method deemed by management to be suitable will be selected. Such
structure may include, but is not limited to leases, purchase and sale
agreements, licenses, joint ventures and other contractual arrangements.
Renegade may act directly or indirectly through an interest in a partnership,
corporation or other form of organization. Implementing such structure may
require the merger, consolidation or reorganization of Renegade with other
corporations or forms of business organization, and although it is likely, there
is no assurance that Renegade would be the surviving entity. In addition, the
present management and stockholders of Renegade most likely will not have
control of a majority of the voting shares of Renegade following a
reorganization transaction. As part of such a transaction, Renegade's existing
directors may resign and new directors may be appointed without any vote or
opportunity for approval by Renegade's shareholders.

     It is likely that Renegade will acquire its participation in a business
opportunity through the issuance of Common Stock or other securities of
Renegade. Although the terms of any such transaction cannot be predicted, it
should be noted that in certain circumstances the criteria for determining
whether or not an acquisition is a so-called "tax free" reorganization under the
Internal Revenue Code of 1986, depends upon the issuance to the stockholders of
the acquired company of a controlling interest (i.e. 80% or more) of the common
stock of the combined entities immediately following the reorganization. If a
transaction were structured to take advantage of these provisions rather than
other "tax free" provisions provided under the Internal Revenue Code, Renegade's
current stockholders would retain in the aggregate 20% or less of the total
issued and outstanding shares. This could result in substantial additional
dilution in the equity of those who were stockholders of Renegade prior to such
reorganization. Any such issuance of additional shares might also be done
simultaneously with a sale or transfer of shares representing a controlling
interest in Renegade by the current officers, directors and principal
shareholders.

     It is anticipated that any new securities issued in any reorganization
would be issued in reliance upon exemptions, if any are available, from
registration under applicable federal and state securities laws. In some
circumstances, however, as a negotiated element of the transaction, Renegade may
agree to register such securities either at the time the transaction is
consummated, or under certain conditions or at specified times thereafter. The
issuance of substantial additional securities and their potential sale into any
trading market that might develop in Renegade's securities may have a depressive
effect upon such market.

     Renegade will participate in a business opportunity only after the
negotiation and execution of a written agreement. Although the terms of such
agreement cannot be predicted, generally such an agreement would require
specific representations and warranties by all of the parties thereto, specify
certain events of default, detail the terms of closing and the conditions which
must be satisfied by each of the parties thereto prior to such closing, outline
the manner of bearing costs if the transaction is not closed, set forth remedies
upon default, and include miscellaneous other terms.

     As a general matter, Renegade anticipates that it, and/or its officers and
principal shareholders will enter into a letter of intent with the management,
principals or owners of a prospective business opportunity prior to signing a
binding agreement. Such a letter of intent will set forth the terms of the
proposed acquisition but will not bind any of the parties to consummate the
transaction. Execution of a letter of intent will by no means indicate that
consummation of an acquisition is probable. Neither Renegade nor any of the
other parties to the letter of intent will be bound to consummate the
acquisition unless and until a definitive agreement concerning the acquisition
as described in the preceding paragraph is executed. Even after a definitive
agreement is executed, it is possible that the acquisition would not be
consummated should any party elect to exercise any right provided in the
agreement to terminate it on specified grounds.

                                       7
<PAGE>


     It is anticipated that the investigation of specific business opportunities
and the negotiation, drafting and execution of relevant agreements, disclosure
documents and other instruments will require substantial management time and
attention and substantial costs for accountants, attorneys and others. If a
decision is made not to participate in a specific business opportunity, the
costs theretofore incurred in the related investigation would not be
recoverable. Moreover, because many providers of goods and services require
compensation at the time or soon after the goods and services are provided, the
inability of Renegade to pay until an indeterminate future time may make it
impossible to procure goods and services.

     POST-COMBINATION ACTIVITIES. Management anticipates that, following
consummation of a combination, control of Renegade will change as a result of
the issuance of additional Common Stock to the shareholders of the business
acquired in the combination. Once ownership control has changed, it is likely
that the new controlling shareholders will call a meeting for the purpose of
replacing the incumbent directors of Renegade with candidates of their own, and
that the new directors will then replace the incumbent officers with their own
nominees. Rule 14f-1 under the Exchange Act requires that, if in connection with
a business combination or sale of control of Renegade there should arise any
arrangement or understanding for a change in a majority of Renegade's directors
and the change in the board of directors is not approved in advance by
Renegade's shareholders at a shareholder meeting, then none of the new directors
may take office until at least ten (10) days after an information statement has
been filed with the Securities and Exchange Commission and sent to Renegade's
shareholders. The information statement furnished must as a practical matter
include the information required by ITEMs 6(a), (d) and (e), 7 and 8 of Schedule
14A of Regulation 14A in a proxy statement.

     Following consummation of a combination, management anticipates that
Renegade will file a current report on Form 8-K with the Commission which
discloses among other things the date and manner of the combination, material
terms of the definitive agreement, the assets and consideration involved, the
identity of the person or persons from whom the assets or other property was
acquired, changes in management and biographies of the new directors and
executive officers, identity of principal shareholders following the
combination, and contains the required financial statements. Such a Form 8-K
report also will be required to include all information as to the business
acquired called for by ITEM 101 of Regulation S-B.

POTENTIAL BENEFITS to INSIDERS

     In connection with a business combination, it is possible that shares of
common stock constituting control of Renegade may be purchased from the current
principal shareholders ("insiders") of Renegade by the acquiring entity or its
affiliates. If stock is purchased from the insiders, the transaction is very
likely to result in substantial gains to them relative to the price they
originally paid for the stock. In Renegade's judgment, none of its officers and
directors would as a result of such a sale become an "underwriter" within the
meaning of the Section 2(11) of the Securities Act of 1933, as amended. No bylaw
or charter provision Renegade prevents insiders from negotiating or consummating
such a sale of their shares. The sale of a controlling interest by Renegade
insiders could occur at a time when the other shareholders of the Company remain
subject to restrictions on the transfer of their shares, and it is unlikely that
Renegade shareholders generally will be given the opportunity to participate in
any such sale of shares. Moreover, Renegade shareholders probably will not be
afforded any opportunity to review or approve any such buyout of shares held by
an officer, director or other affiliate, should such a buyout occur.

     Renegade may require that a company being acquired repay all advances made
to Renegade by Renegade shareholders and management, at or prior to closing of a
combination. Otherwise, there are no conditions that any combination or
combination candidate must meet, such as buying stock from Renegade insiders or
paying compensation to any Renegade officer, director or shareholder or their
respective affiliates.

                                       8
<PAGE>


POSSIBLE ORIGINATION of a BUSINESS

     The Board of Directors has left open the possibility that, instead of
seeking a business combination, Renegade may instead raise funding in order to
originate an operating business, which may be in any industry or line of
business, and could involve Renegade's origination of a start-up business,
purchase and development of a business already originated by third parties,
joint venture of a new or existing business, or take any other lawful form. It
is also possible that Renegade may engage in one or more combinations, as
discussed above, and originate a business in addition. Potential shareholders
should consider that management has the widest possible discretion in choosing a
business direction for Renegade.

Any funds needed to originate and develop a business would almost certainly be
raised from the sale of Renegade's securities, since Renegade lacks the
creditworthiness to obtain a loan. Management does not believe that the
principal shareholders, directors or executive officers of Renegade would be
willing to guarantee any debt taken on, and obtaining a loan without personal
guarantees is unlikely. Capital could possibly be raised from the sale of debt
instruments convertible into common stock upon the occurrence of certain defined
events, but no such funding has been offered. Renegade has no current plans to
offer or sell its securities, but would be agreeable do so if a worthy business
opportunity presents itself and adequate funding then appears to be available.

USE OF CONSULTANTS and FINDERS

     Although there are no current plans to do so, Renegade management might
hire and pay an outside consultant to assist in the investigation and selection
of candidates, and might pay a finder's fee to a person who introduces a
candidate with which Renegade completes a combination. Since Renegade management
has no current plans to use any outside consultants or finders to assist in the
investigation and selection of candidates, no policies have been adopted
regarding use of consultants or finders, the criteria to be used in selecting
such consultants or finders, the services to be provided, the term of service,
or the structure or amount of fees that may be paid to them. However, because of
the limited resources of Renegade, it is likely that any such fee Renegade
agrees to pay would be paid in stock and not in cash. Renegade has had no
discussions, and has entered into no arrangements or understandings, with any
consultant or finder. Renegade's officers and directors have not in the past
used any particular consultant or finder on a regular basis and have no plan to
either use any consultant or recommend that any particular consultant be engaged
by Renegade on any basis.

     It is possible that compensation in the form of common stock, options,
warrants or other securities of Renegade, cash or any combination thereof, may
be paid to outside consultants or finders. No securities of Renegade will be
paid to officers, directors or promoters of Renegade nor any of their respective
affiliates. Any payments of cash to a consultant or finder would be made by the
business acquired or persons affiliated or associated with it, and not by
Renegade. It is possible that the payment of such compensation may become a
factor in any negotiations for Renegade's acquisition of a business opportunity.
Any such negotiations and compensation may present conflicts of interest between
the interests of persons seeking compensation and those of Renegade's
shareholders, and there is no assurance that any such conflicts will be resolved
in favor of Renegade's shareholders.


RISK FACTORS

     At this time the shares of Renegade are speculative and involve a high
degree of risk, for the reasons following. Renegade is in the development stage
with no operations or revenues, thus there are no financial results upon which
anyone may base an assessment of its potential. No combination candidate has
been identified for acquisition by management, nor has any determination been
made as to any business for Renegade to enter, and shareholders will have no
meaningful voice in any such determinations. There is no assurance that Renegade
will be successful in completing a combination or originating a business, nor
that Renegade will be successful or that its shares will have any value even if
a combination is completed or a business originated.

                                       9
<PAGE>


     Renegade's officers and directors, who serve only on a part-time basis,
have had limited experience in the business activities contemplated by Renegade,
yet Renegade will be solely dependent on them. Renegade lacks the funds or other
incentive to hire full-time experienced management. Each of Renegade's
management members has other employment or business interests to which he
devotes his primary attention and will continue to do so, devoting time to
Renegade only on an as-needed basis. Moreover, members of management are
involved in other companies also seeking to engage in a combination, and
conflicts of interest could arise in the event they come across a desirable
combination candidate. No assurance exists that all or any such conflicts will
be resolved in favor of Renegade.

     After completion of a combination, the current shareholders of Renegade may
experience severe dilution of their ownership due to the issuance of shares in
the combination. Any combination effected by Renegade almost certainly will
require its existing management and board members to resign, thus shareholders
have no way of knowing what persons ultimately will direct Renegade and may not
have an effective voice in their selection.

STATE SECURITIES LAWS CONSIDERATIONS

     Section 18 of the Securities Act of 1933, as amended in 1996, provides that
no law, rule, regulation, order or administrative action of any state may
require registration or qualification of securities or securities transactions
that involve the sale of a "covered security." The term "covered security" is
defined in Section 18 to include among other things transactions by "any person
not an issuer, underwriter or dealer," (in other words, secondary transactions
in securities already outstanding) that are exempted from registration by
Section 4(1) of the Securities Act of 1933, provided the issuer of the security
is a "reporting company," meaning that it files reports with the SEC pursuant to
Section 13 or 15(d) of the Exchange Act.

     Section 18 as amended preserves the authority of the states to require
certain limited notice filings by issuers and to collect fees as to certain
categories of covered securities, specifically including Section 4(1) secondary
transactions in the securities of reporting companies. Section 18 expressly
provides, however, that a state may not "directly or indirectly prohibit, limit,
or impose conditions based on the merits of such offering or issuer, upon the
offer or sale of any (covered) security." This provision prohibits states from
requiring registration or qualification of securities of an Exchange Act
reporting company which is current in its filings with the SEC.

     The states generally are free to enact legislation or adopt rules that
prohibit secondary trading in the securities of "blank check" companies like
Renegade. Section 18, however, of the Act preempts state law as to covered
securities of reporting companies. Thus, while the states may require certain
limited notice filings and payment of filing fees by Renegade as a precondition
to secondary trading of its shares in those states, they cannot, so long as
Renegade is a reporting issuer, prohibit, limit or condition trading in
Renegade's securities based on the fact that Renegade is or ever was a blank
check company. Renegade will comply with such state limited notice filings as
may be necessary in regard to secondary trading. At this time, Renegade's stock
is not actively traded in any market, and an active market in its common stock
is not expected to arise, if ever, until after completion of a business
combination.


NO INVESTMENT COMPANY ACT REGULATION

     Prior to completing a combination, Renegade will not engage in the business
of investing or reinvesting in, or owning, holding or trading in securities, or
otherwise engaging in activities which would cause it to be classified as an
"investment company" under the 1940 Act. To avoid becoming an investment
company, not more than 40% of the value of Renegade's assets (excluding
government securities and cash and cash equivalents) may consist of "investment
securities," which is defined to include all securities other than U.S.
government securities and securities of majority-owned subsidiaries. Because
Renegade will not own less than a majority of any assets or business acquired,
it will not be regulated as an investment company. Renegade will not pursue any
combination unless it will result in Renegade owning at least a majority
interest in the business acquired.

                                       10
<PAGE>


COMPETITION

     Renegade will be in direct competition with many entities in its efforts to
locate suitable business opportunities. Included in the competition will be
business development companies, venture capital partnerships and corporations,
small business investment companies, venture capital affiliates of industrial
and financial companies, broker-dealers and investment bankers, management and
management consultant firms and private individual investors. Most of these
entities will possess greater financial resources and will be able to assume
greater risks than those which Renegade, with its limited capital, could
consider. Many of these competing entities will also possess significantly
greater experience and contacts than Renegade's Management. Moreover, Renegade
also will be competing with numerous other blank check companies for such
opportunities.

EMPLOYEES

     Renegade has no full-time employees, and its only employees currently are
its officers. It is not expected that Renegade will have additional full-time or
other employees except as a result of completing a combination.


Item 2. DESCRIPTION OF PROPERTY.

     Renegade neither owns nor leases any real estate or other properties.
Renegade's offices are located in the offices of Brasher and Company, counsel to
the Company, and are provided at no charge. This arrangement will continue and
is believed to be adequate for Renegade's needs until Renegade completes an
acquisition of an operating business, in which latter event the offices of
Renegade undoubtedly will be the same as those of the acquired company.


Item 3. LEGAL PROCEEDINGS.

     There are no legal proceedings which are pending or have been threatened
against Renegade or any officer, director or control person of which management
is aware.


Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

     No matters were submitted to a vote or for the written consent of security
shareholders for the year ended December 31, 2001, and no meeting of
shareholders was held.


                                       11
<PAGE>


                                     PART II

Item 5. MARKET FOR THE REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER
        MATTERS.

PRICE RANGE OF COMMON STOCK

     During the fiscal year ended December 31, 2001, the Common Shares were
quoted under symbol "RDVN" on the Pink Sheets operated by the National Quotation
Bureau, but few transactions have taken place, and there is no market for the
Common Shares at this time. The common shares are quoted at a bid price of $.25
and an ask price of $.72.

     There currently is no public market for Renegade's common stock, and no
assurance can be given that a market will develop or that a shareholder ever
will be able to liquidate his investment without considerable delay, if at all.
If a market should develop, the price may be highly volatile. Unless and until
Renegade's common shares are quoted on the NASDAQ system or listed on a national
securities exchange, it is likely that the common shares will be defined as
"penny stocks" under the Exchange Act and SEC rules thereunder. The Exchange Act
and penny stock rules generally impose additional sales practice and disclosure
requirements upon broker-dealers who sell penny stocks to persons other than
certain "accredited investors" (generally, institutions with assets in excess of
$5,000,000 or individuals with net worth in excess of $1,000,000 or annual
income exceeding $200,000, or $300,000 jointly with spouse) or in transactions
not recommended by the broker-dealer.

     For transactions covered by the penny stock rules, the broker-dealer must
make a suitability determination for each purchaser and receive the purchaser's
written agreement prior to the sale. In addition, the broker-dealer must make
certain mandated disclosures in penny stock transactions, including the actual
sale or purchase price and actual bid and offer quotations, the compensation to
be received by the broker-dealer and certain associated persons, and deliver
certain disclosures required by the SEC. So long as Renegade's common shares are
considered "penny stocks", many brokers will be reluctant or will refuse to
effect transactions in Renegade's shares, and many lending institutions will not
permit the use of penny stocks as collateral for any loans.

HOLDERS

     Renegade had approximately 51 shareholders of record as of December 31,
2001, which number may not include shareholders whose shares are held in street
or nominee names.

DIVIDENDS

     Renegade does not expect to pay a cash dividend upon its capital stock in
the foreseeable future. Payment of dividends in the future will depend on
Renegade's earnings (if any) and its cash requirements at that time.


Item 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

PLAN of OPERATION

     Renegade is a blank check company whose plan of operation over the next
twelve months is to seek and, if possible, acquire an operating business or
valuable assets by entering into a business combination. Renegade will not be
restricted in its search for business combination candidates to any particular
geographical area, industry or industry segment, and may enter into a
combination with a private business engaged in any line of business, including
service, finance, mining, manufacturing, real estate, oil and gas, distribution,
transportation, medical, communications, high technology, biotechnology or any
other. Management's discretion is, as a practical matter, unlimited in the
selection of a combination candidate. Management of Renegade will seek
combination candidates in the United States and other countries, as available
time and resources permit, through existing associations and by word of mouth.
This plan of operation has been adopted in order to attempt to create value for
Renegade's shareholders. For further information on Renegade's plan of operation
and business, see PART I, Item 1 above.

     Renegade does not intend to do any product research or development.
Renegade does not expect to buy or sell any real estate, plant or equipment
except as such a purchase might occur by way of a business combination that is
structured as an asset purchase, and no such asset purchase currently is
anticipated. Similarly, Renegade does not expect to add additional employees or
any full-time employees except as a result of completing a business combination,
and any such employees likely will be persons already then employed by the
company acquired.

RESULTS OF OPERATIONS

     2001. For the year ended December 31, 2001, Renegade had no revenues and
incurred a net loss of $11,166 as compared to a net loss of $18,182 for the year
ended December 31, 2000. Expenses in calendar 2001 related primarily to
miscellaneous filing fees, accounting fees and legal fees, as they did in 2000.

     2000. For the year ended December 31, 2000, Renegade had no revenues and
incurred a net loss of $18,182 as compared to a net loss of $10,076 for the year
ended December 31, 1999. Expenses in calendar 2000 related primarily to
miscellaneous filing fees, accounting fees and legal fees, as they did in 1999.

                                       12
<PAGE>


LIQUIDITY and CAPITAL RESOURCES

     Renegade had $676 in cash on hand at December 31, 2001 and had no other
assets to meet ongoing expenses or debts that may accumulate. Since inception,
Renegade has accumulated a deficit (net loss) of $130,722. Renegade has debts
totalling $60,857, principally fees owed to its legal counsel for services
rendered.

     Renegade has no commitment for any capital expenditure and foresees none.
However, Renegade will incur routine fees and expenses incident to its reporting
duties as a public company, and it will incur expenses in finding and
investigating possible acquisitions and other fees and expenses in the event it
makes an acquisition or attempts but is unable to complete an acquisition.
Renegade's cash requirements for the next twelve months are relatively modest,
principally accounting expenses and other expenses relating to making filings
required under the Securities Exchange Act of 1934 (the "Exchange Act"), which
should not exceed $10,000 in the fiscal year ending December 31, 2002. Any
travel, lodging or other expenses which may arise related to finding,
investigating and attempting to complete a combination with one or more
potential acquisitions could also amount to thousands of dollars.

     Renegade's current management and its counsel have informally agreed to
continue rendering services to Renegade and to not demand payment of sums owed
unless and until Renegade completes an acquisition. The terms of any such
payment will have to be negotiated with the principals of any business acquired.
The existence and amounts of Renegade debt may make it more difficult to
complete, or prevent completion of, a desirable acquisition. In addition,
offices are provided to Renegade without charge.

     Renegade will only be able to pay its future debts and meet operating
expenses by raising additional funds, acquiring a profitable company or
otherwise generating positive cash flow. As a practical matter, Renegade is
unlikely to generate positive cash flow by any means other than acquiring a
company with such cash flow. Renegade believes that management members or
shareholders will loan funds to Renegade as needed for operations prior to
completion of an acquisition. Management and the shareholders are not obligated
to provide funds to Renegade, however, and it is not certain they will always
want or be financially able to do so. Renegade shareholders and management
members who advance money to Renegade to cover operating expenses will expect to
be reimbursed, either by Renegade or by the company acquired, prior to or at the
time of completing a combination. Renegade has no intention of borrowing money
to reimburse or pay salaries to any Renegade officer, director or shareholder or
their affiliates. There currently are no plans to sell additional securities of
Renegade to raise capital, although sales of securities may be necessary to
obtain needed funds. Renegade's current management and its counsel have agreed
to continue their services to Renegade and to accrue sums owed them for services
and expenses and expect payment reimbursement only.

     Should existing management or shareholders refuse to advance needed funds,
however, Renegade would be forced to turn to outside parties to either loan
money to Renegade or buy Renegade securities. There is no assurance whatever
that Renegade will be able at need to raise necessary funds from outside
sources. Such a lack of funds could result in severe consequences to Renegade,
including among others:

     (1) failure to make timely filings with the SEC as required by the Exchange
     Act, which also probably would result in suspension of trading or quotation
     in Renegade's stock and could result in fines and penalties to Renegade
     under the Exchange Act;

     (2) curtailing or eliminating Renegade's ability to locate and perform
     suitable investigations of potential acquisitions; or

     (3) inability to complete a desirable acquisition due to lack of funds to
     pay legal and accounting fees and acquisition-related expenses.

                                       13
<PAGE>


     Renegade hopes to require potential candidate companies to deposit funds
with Renegade that it can use to defray professional fees and travel, lodging
and other due diligence expenses incurred by Renegade's management related to
finding and investigating a candidate company and negotiating and consummating a
business combination. There is no assurance that any potential candidate will
agree to make such a deposit.


Item 7. FINANCIAL STATEMENTS.

     The index to the financial statements appears at page 21.


Item 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS OR ACCOUNTING AND
        FINANCIAL DISCLOSURE.

     Not applicable.

                                    PART III

Item 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE
        WITH SECTION 16(a) OF THE EXCHANGE ACT.

IDENTIFICATION of CURRENT
  DIRECTORS and EXECUTIVE OFFICERS

     The persons who serve as directors and executive officers of Renegade,
their ages, positions and tenure held in Renegade, are listed below. Each
director will serve until the next annual meeting of shareholders, or until
their respective successors have been elected and duly qualified. Directors
serve one-year terms. Officers hold office at the pleasure of the Board of
Directors, absent any employment agreement, of which none currently exist or are
contemplated. There are no family relationships between any director or
executive officer.

      Name                 Age                    Position
      ----                 ---                    --------
Randy J. Sasaki            43       Director and Chairman of the Board,
                                    President, Chief Executive  Officer,  Chief
                                    Financial and Accounting Officer, since
                                    April 13, 1994

John D. Brasher Jr.        50       Director since October 29, 1997

Thomas M. Liston           47       Secretary, Treasurer, Director since
                                    April 13, 1994

BIOGRAPHICAL INFORMATION

     The following is a brief account of the business experience during at least
the past five years of each person who is a director and executive officer at
the time of filing this report, indicating the principal occupation and
employment during that period, and the name and principal business of the
organization in which such occupation and employment were carried out. None of
such persons has ever devoted full time or any significant time to Renegade's
business. These persons have agreed to devote only such time to Renegade's
business as seems reasonable and necessary from time to time.

     RANDY J. SASAKI. Mr. Sasaki is a Director and President of Proquest Capital
Corporation, a Nevada corporation with a business plan similar to that of
Renegade. Formerly, he was engaged as a private consultant by JDK & Associates,
Inc., a public relations firm based in Newport Beach, California since mid-1993.
From January 1992 to mid-1993, Mr. Sasaki attended Metropolitan State University
in Denver, where he was working toward a masters degree in finance. Since 1990

                                       14
<PAGE>


he has been an owner and director of Ceiling Systems BV, a Netherlands company
established to market and sublicense patented technology and equipment
associated with the renovation of commercial buildings, and from 1989 to 1992,
he served as manager of Ceiling Systems, Inc., a corporation headquartered in
Denver which developed patented technology used in the renovation of commercial
building ceilings. From 1988 to 1989, Mr. Sasaki was sales manager and a
minority owner of Manhattan Corporation, a Denver-based company engaged in the
business of switching mutual funds, primarily managing retirement plans of
United Airlines pilots. In 1985, while working part-time at Continental Airlines
as a customer service representative, Mr. Sasaki began trading futures on the
New York Futures Exchange for his own account. He and an associate were ranked
12th in the United States during the 1986 U.S. Trading Championship sponsored by
and reported Investor's Daily on January 6, 1986, also reported in Barron's and
Stocks & Commodities. Mr. Sasaki holds a B.S. degree in Aeronautical Engineering
from Metropolitan State College in Denver, Colorado.

     JOHN D. BRASHER JR. Mr. Brasher is an attorney engaged since February 1988
in the practice of law in Denver, Colorado, as proprietor of Brasher & Company
and concentrates in the fields of corporate and securities law. Mr. Brasher
received a B.A. degree in English in 1979, and in 1982 received a law degree
(J.D.), both from Louisiana State University. He is admitted to practice in the
States of Colorado and Louisiana and is a member of the bar of the United States
Supreme Court. Mr. Brasher also is President of LogiCapital Corporation, a
Colorado software company that develops Internet-based products for the
financial markets.

     THOMAS M. LISTON. In November 1994, Mr. Liston and others formed Visions
Incorporated, a Denver company of which he is Vice President, which engages in
the development, manufacture and marketing of new products for the law
enforcement and securities industry. In 1992 and 1993, Mr. Liston was associated
with Business Appraisal Associates in Denver, Colorado, as a real estate
appraiser and financial consultant. In 1990 and 1992, Mr. Liston was a part-time
salesman for Ceiling Systems, Inc. in Denver and acted as an independent
financial consultant. Mr. Liston is a Colorado Registered Appraiser (Real
Estate) and, though currently inactive, holds securities licenses as a
registered representative and registered principal. From 1988 to 1990, Mr.
Liston was manager and an owner of Inter-Cap Investments, Inc., a securities
brokerage firm in Aurora, Colorado. Mr. Liston graduated in 1976 from Southwest
Missouri State University (Springfield, Missouri) with a B.S. degree in Business
Management.

SIGNIFICANT EMPLOYEES

     None, other than officers of Renegade listed above.


POTENTIAL CONFLICTS of INTEREST

     Certain of the Company's officers and directors are now and may in the
future from time to time be affiliated with other blank check companies having a
similar business plan to that of Renegade ("Affiliated Companies") which may
compete directly or indirectly with Renegade. Renegade has not identified a
specific business area, industry or industry segment in which it will seek
combination candidates. Renegade has made a determination that it will not
concentrate its search for combination candidates in any particular business,
industry or industry segment, since any such determination is potentially
limiting and confers no advantage to Renegade or its shareholders. Certain
specific conflicts of interest may include those discussed below.

     1. The interests of any Affiliated Companies from time to time may be
inconsistent in some respects with the interests of Renegade. The nature of
these conflicts of interest may vary. There may be circumstances in which an
Affiliated Company may take advantage of an opportunity that might be suitable
for Renegade. Although there can be no assurance that conflicts of interest will
not arise or that resolutions of any such conflicts will be made in a manner
most favorable to Renegade and its shareholders, the officers and directors of
Renegade have a fiduciary responsibility to Renegade and its shareholders and,
therefore, must adhere to a standard of good faith and integrity in their
dealings with and for Renegade and its shareholders.

                                       15
<PAGE>


     2. The officers and directors of Renegade serve as officers or directors of
one or more Affiliated Companies and may serve as officers and directors of
other Affiliated Companies in the future. Renegade's officers and directors are
required to devote only so much of their time to Renegade's affairs as they deem
appropriate, in their sole discretion. As a result, Renegade's officers and
directors may have conflicts of interest in allocating their management time,
services, and functions among Renegade and any current and future Affiliated
Companies which they may serve, as well as any other business ventures in which
they are now or may later become involved.

     3. The Affiliated Companies may compete directly or indirectly with that of
Renegade for the acquisition of available, desirable combination candidates.
There may be factors unique to Renegade or an Affiliated Company which
respectively makes it more or less desirable to a potential combination
candidate, such as age of the company, name, capitalization, state of
incorporation, contents of the articles of incorporation, etc. However, any such
direct conflicts are not expected to be resolved through arm's-length
negotiation, but rather in the discretion of management. While any such
resolution will be made with due regard to the fiduciary duty owed to Renegade
and its shareholders, there can be no assurance that all potential conflicts can
be resolved in a manner most favorable to Renegade as if no conflicts existed.
Members of Renegade's management who also are members of management of another
Affiliated Company will also owe the same fiduciary duty to the shareholders of
the other Affiliated Company.

     Should a potential acquisition be equally available to and desirable for
both renegade and the Affiliated Companies, no guideline exists for determining
which company would make the acquisition. This poses a risk to Renegade
shareholders that a desirable acquisition available to Renegade may be made by
an Affiliated Company, whose shareholders would instead reap the rewards of the
acquisition. An Affiliated Company's shareholders of course face exactly the
same risk. Any persons who are officers and directors of both Renegade and an
Affiliated Company do not have the sole power (nor the power through stock
ownership) to determine which company would acquire a particular acquisition. No
time limit exists in which an acquisition may or must be made by Renegade, and
there is no assurance when - or if - an acquisition ever will be completed.

     4. Certain conflicts of interest exist and will continue to exist between
Renegade and its officers and directors due to the fact that each has other
employment or business interests to which he devotes his primary attention. Each
officer and director is expected to continue to do so in order to make a living,
notwithstanding the fact that management time should be devoted to Renegade's
affairs. Renegade has not established policies or procedures for the resolution
of current or potential conflicts of interest between Renegade and its
management.


     As a practical matter, such potential conflicts could be alleviated only if
the Affiliated Companies either are not seeking a combination candidate at the
same time as the Company, have already identified a combination candidate, are
seeking a combination candidate in a specifically identified business area, or
are seeking a combination candidate that would not otherwise meet Renegade's
selection criteria. It is likely, however, that the combination criteria of
Renegade and any Affiliated Companies will be substantially identical.
Ultimately, Renegade's shareholders ultimately must rely on the fiduciary
responsibility owed to them by Renegade's officers and directors.

     There can be no assurance that members of management will resolve all
conflicts of interest in Renegade's favor. The officers and directors are
accountable to Renegade and its shareholders as fiduciaries, which means that
they are legally obligated to exercise good faith and integrity in handling
Renegade's affairs and in their dealings with Renegade. Failure by them to
conduct Renegade's business in its best interests may result in liability to
them. The area of fiduciary responsibility is a rapidly developing area of law,
and persons who have questions concerning the duties of the officers and
directors to Renegade should consult their counsel.

EXCLUSION of DIRECTOR LIABILITY

     Pursuant to the General Corporation Law of Nevada, Renegade's Certificate
of Incorporation excludes personal liability on the part of its directors to
Renegade for monetary damages based upon any violation of their fiduciary duties
as directors, except as to liability for any acts or omissions which involve
intentional misconduct, fraud or a knowing violation of law or for improper
payment of dividends. This exclusion of liability does not limit any right which
a director may have to be indemnified and does not affect any director's
liability under federal or applicable state securities laws.

                                       16
<PAGE>


Item 10. EXECUTIVE COMPENSATION.

CASH and OTHER COMPENSATION

     During the year ended December 31, 2001, Renegade paid no cash or cash
equivalent compensation to its executive officers and directors. Renegade has no
other agreement or understanding, express or implied, with any director or
executive officer concerning employment or cash or other compensation for
services.

COMPENSATION PURSUANT to PLANS

     Renegade President Randy J. Sasaki and Renegade counsel John Brasher each
have been granted options until May 4, 2002 to purchase 500,000 shares of
Renegade common stock at a price of $.05 per share pursuant to the 1997
Compensatory Stock Option Plan. Otherwise, no director or executive officer has
received compensation from Renegade pursuant to any compensatory or benefit
plan. There is no plan or understanding, express or implied, to pay any
compensation to any director or executive officer pursuant to any compensatory
or benefit plan of Renegade, although Renegade anticipates that it will
compensate its officers and directors for services to Renegade with stock or
options to purchase stock, in lieu of cash.

     Renegade currently has in place an employee stock compensation plan and
compensatory stock option plan. Renegade has no long-term incentive plans, as
that term is defined in the rules and regulations of the Securities and Exchange
Commission. There are no other compensatory or benefit plans, such as retirement
or pension plans, in effect or anticipated to be adopted, although other plans
may be adopted by new management following completion of a business combination.

EMPLOYEE STOCK COMPENSATION PLAN

     Renegade has adopted the 1997 Employee Stock Compensation Plan for
employees, officers, directors of Renegade and advisors to Renegade (the "ESC
Plan"). Renegade has reserved a maximum of 1,000,000 Common Shares to be issued
upon the grant of awards under the ESC Plan. Employees will recognize taxable
income upon the grant of Common Stock equal to the fair market value of the
Common Stock on the date of the grant and Renegade will recognize a compensating
deduction at such time. The ESC Plan will be administered by the Board of
Directors. No Common Stock has been awarded under the ESC Plan.

COMPENSATORY STOCK OPTION PLAN

     Renegade has adopted the 1997 Compensatory Stock Option Plan for officers,
employees, directors and advisors (the "CSO Plan"). Renegade has reserved a
maximum of 2,000,000 Common Shares to be issued upon the exercise of options
granted under the CSO Plan. The CSO Plan will not qualify as an "incentive stock
option" plan under Section 422A of the Internal Revenue Code of 1986, as
amended. Options will be granted under the CSO Plan at exercise prices to be
determined by the Board of Directors or other CSO Plan administrator. With
respect to options granted pursuant to the CSO Plan, optionees will not
recognize taxable income upon the grant of options granted at or in excess of
fair market value. Renegade will be entitled to a compensating deduction (which
it must expense) in an amount equal to any taxable income realized by an
optionee as a result of exercising the option. The CSO Plan will be administered
by the Board of Directors or a committee of directors. Options to purchase an
aggregate of 1,000,000 shares of Renegade common stock have been granted under
the CSO Plan, as described above.

COMPENSATION OF DIRECTORS

     Renegade has no standard arrangements in place or currently contemplated to
compensate Renegade directors for their service as directors or as members of
any committee of directors.

                                       17
<PAGE>


EMPLOYMENT CONTRACTS

     No person has entered into any employment or similar contract with
Renegade. It is not anticipated that Renegade will enter into any employment or
similar contract unless in conjunction with or following completion of a
business combination.


Item 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

     The following table sets forth, as of December 31, 2001, the stock
ownership of each officer and director of Renegade, of all officers and
directors of Renegade as a group, and of each person known by Renegade to be a
beneficial owner of 5% or more of its Common Stock, $.001 par value per share.
Except as otherwise noted, each person listed below is the sole beneficial owner
of the shares and has sole investment and voting power as such shares. No person
listed below has any option, warrant or other right to acquire additional
securities of Renegade, except as noted.

                                               Amount
   Name and Address of                   Common Stock Owned    Percent of Common
   of Beneficial Owner                      Beneficially       Stock Outstanding
   -------------------                      ------------       -----------------

*Randy J. Sasaki .......................     512,500 (1)              38.8%
      90 Madison Street,  Suite 707
      Denver, Colorado 80206

*John D. Brasher Jr. ...................     525,000 (1)              39.7%
      90 Madison Street
      Suite 707
      Denver, Colorado 80206

*Thomas Liston .........................        -0-                    -0-
      2604 South Xanadu Way
      Aurora, Colorado 80014

      *All directors and executive
      executive officers (3 persons) ...     1,037,500                78.5%


     (1)  Includes 500,000 shares subject to purchase upon the exercise of
          options granted under the 1997 Compensatory Stock Option Plan.

     The percentages reflected in the above table were calculated as if all the
1,000,000 stock options had been exercised. The current officers and directors
of Renegade may be deemed to be "promoters" or "founders" of Renegade.

CHANGES in CONTROL

     A change of control of Renegade probably will occur upon consummation of a
business combination, which is anticipated to involve significant change in
ownership of Renegade and in the membership of the board of directors. The
extent of any such change of control in ownership or board composition cannot be
predicted at this time.

                                       18
<PAGE>


Item 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

     Renegade is not indebted to any current or former officer, director,
promoter or control person, except for $60,857 owed to its counsel, director
John D. Brasher Jr., for legal services rendered. Renegade has no understanding
with its officers, directors or shareholders, pursuant to which such persons are
required to contribute capital to Renegade, loan money or otherwise provide
funds to Renegade, although management expects that one or more of such persons
may make funds available to Renegade in the event of need to cover operating
expenses.

     No officer, director or employee of Renegade or its predecessor received a
salary of $60,000 or more in 2001 or 2000. There were no transactions, or series
of transactions, for the years ended December 31, 2001 or 2000, nor are there
any currently proposed transactions, or series of transactions, to which
Renegade is (or Renegade or its predecessor was) a party, in which the amount
exceeds $60,000, and in which to the knowledge of Renegade any director,
executive officer, nominee, five percent or greater shareholder, or any member
of the immediate family of any of the foregoing persons, have or will have any
direct or indirect material interest.


Item 13. EXHIBITS AND REPORTS ON FORM 8-K.

     (a) Exhibits. The following exhibits are filed with this report, except
those indicated as having previously been filed with the Securities and Exchange
Commission and incorporated by reference to another report, registration
statement or form. As to any shareholder of record requesting a copy of this
report, Renegade will furnish any exhibit indicated in the list below as filed
with report upon payment to Renegade of its expenses in furnishing the
information.

     3.1       Articles of Incorporation of Renegade Venture
               Corporation, incorporated by reference to Exhibit 3.1
               to registration statement on Form S-18, file No.
               33-30476 dated August 11, 1989 ............................    1

     3.2       Bylaws of Renegade Venture Corporation, incorporated by
               reference to Exhibit 3.2 to registration statement on
               form S-18, file No. 33-30476 dated August 11, 1989 ........    1

     3.5       Amendment to Articles of Incorporation of Renegade
               Venture Corporation, incorporated by reference from
               Exhibit 3.5 to Form 8-K dated August 16, 1996 .............    1

     3.6       Articles and Certificate of Merger dated September 18,
               1997, between Renegade Venture Corporation and Renegade
               Venture (Nev.) Corporation, a Nevada corporation, with
               Merger Agreement attached thereto as Exhibit A,
               incorporated by reference to Exhibit 2.1 to Form 8-K
               dated October 2, 1997 .....................................    1

     3.7       Certificate of Incorporation of Renegade Venture (Nev.)
               Corporation, incorporated by reference to Exhibit 3.1
               to Form 8-K dated October 2, 1997 .........................    1

     3.8       Bylaws of Renegade Venture (Nev.) Corporation,
               incorporated by reference to Exhibit 3.2 to Form 8-K
               dated October 2, 1997 .....................................    1

     4.1       Specimen common stock certificate, incorporated by
               reference to Exhibit 4.1 to registration statement of
               Form S-18, file No. 33-30476 dated August 11, 1989 ........    1

     10.1      1997 Compensatory Stock Option Plan, incorporated by
               reference to Exhibit 10.1 to Form 8-K dated October 2,
               1997 ......................................................    1

     10.2      1997 Employee Stock Compensation Plan, incorporated by
               reference to Exhibit 10.2 to Form 8-K dated October 2,
               1997 ......................................................    1

     10.3      Common Stock Option granted to Randy J. Sasaki ............    1

     10.4      Common Stock Option granted to John D. Brasher Jr. ........    1


               1 -  Incorporated by reference to another registration
                    statement, report or document.
               2 -  Included as part of this Report.

     (b) Reports on Form 8-K. NONE

                                       20
<PAGE>



Index to Financial Statements:


INDEPENDENT AUDITOR's REPORT .............................................   F-1

BALANCE SHEET as of December 31, 2001 ....................................   F-2

STATEMENTS OF OPERATIONS for years ended
 December 31, 2001 and 2000 and from Inception
 (February 13, 1989) through December 31, 2001 ...........................   F-3

STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
 from Inception (February 13, 1989) through
 December 31, 2001 .......................................................   F-4


STATEMENTS OF CASH FLOWS for years ended
 December 31, 2001 and 2000 and from Inception
 (February 13, 1989) through December 31, 2001  F-5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ...............................   F-6

NOTES TO FINANCIAL STATEMENTS ............................................   F-6



                                       21
<PAGE>




                REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT



To the Board of Directors
Renegade Venture (Nev.) Corporation
Denver, Colorado

I have audited the accompanying balance sheet of Renegade Venture (Nev.)
Corporation (a development stage company) as of December 31, 2001, and the
related statements of operations, changes in stockholders' equity (deficit) and
cash flows for each of the years ended December 31, 2001 and 2000, and the
related cumulative amounts for the period from inception (February 13, 1989) to
December 31, 2001. These financial statements are the responsibility of the
Company's management. My responsibility is to express an opinion on these
financial statements based on my audit.

I conducted my audit in accordance with generally accepted auditing standards.
Those standards require that I 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.
I believe that my audit of the financial statements provides a reasonable basis
for my opinion.

In my opinion, the financial statements referred to above present fairly the
financial position of Renegade Venture (Nev.) Corporation as of December 31,
2001 and the results of its operations, changes in stockholders' equity
(deficit) and cash flows for each of the years ended December 31, 2001 and 2000,
and the related cumulative amounts for the period from inception (February 13,
1989) to December 31, 2001 in conformity with generally accepted accounting
principles.

The accompanying financial statements have been prepared assuming the Company
will continue as a going concern. As discussed in Note 1 to the financial
statements, the Company has incurred significant losses since inception, has a
lack of liquidity and a working capital deficit as of December 31, 2001. These
factors raise substantial doubt about the Company's ability to continue as a
going concern. Management's plans regarding these matters are also described in
Note 1. The financial statements do not include any adjustments that might
result from the outcome of this uncertainty.

/s/ Brian J. Wilcomb, CPA, P.C.
-------------------------------
Brian J. Wilcomb, CPA, P.C.
February 13, 2002
Louisville, Colorado

                                       F-1
<PAGE>


                       RENEGADE VENTURE (NEV.) CORPORATION
                          (a development stage company)
                                  BALANCE SHEET
                                DECEMBER 31, 2001

                                     ASSETS
                                     ------

CURRENT ASSETS:
  Cash held by trustee                                                $     676
                                                                      ---------

TOTAL ASSETS                                                          $     676
                                                                      =========

                 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
                 ----------------------------------------------

CURRENT LIABILITIES
  Accounts payable  (note 2)                                          $  60,857
  Note Payable - officer (note 2)                                         7,000
  Accrued Interest (note 3)                                                 416
                                                                      ---------
       Total Current Liabilities                                         68,273
                                                                      ---------
STOCKHOLDERS' EQUITY (DEFICIT)
 Common stock (note 4), .001 par value,
  50,000,000 shares authorized, 320,000
  shares issued and outstanding                                             320

Additional paid-in capital                                               62,805

Preferred stock (note 4), .001 par value,
  5,000,000 shares authorized, no shares
  issued or outstanding                                                    --

  Deficit accumulated during
    development stage                                                  (130,722)
                                                                      ---------
       Stockholders' Equity (Deficit)                                   (67,597)
                                                                      ---------
TOTAL LIABILITIES AND
  STOCKHOLDERS' EQUITY (DEFICIT)                                      $     676
                                                                      =========


    The accompanying notes are an integral part of this financial statement.

                                       F-2
<PAGE>
<TABLE>
<CAPTION>


                       RENEGADE VENTURE (NEV.) CORPORATION
                          (a development stage company)
                             STATEMENT OF OPERATIONS



                                                Year Ended       Period From Inception
                                                December 31,      (February 13, 1989)
                                            2001           2000   to December 31, 2001
                                          ---------     --------- --------------------
<S>                                       <C>           <C>           <C>

REVENUE                                   $       0     $       0     $       0
                                          ---------     ---------     ---------
EXPENSES:
  Legal and accounting                        9,105        10,940        96,553
  Stock transfer and promotion                1,399         6,904        34,179
  Office and postage                            246           338         5,868
  Interest                                      416          --             416
  Amortization                                 --            --           1,760
                                          ---------     ---------     ---------
   Total Expenses                            11,166        18,182       138,776
                                          ---------     ---------     ---------

   Loss from operations                     (11,166)      (18,182)     (138,776)
                                          ---------     ---------     ---------

OTHER INCOME (EXPENSE):
  Interest income                              --            --           8,054
                                          ---------     ---------     ---------

NET LOSS INCURRED DURING
  DEVELOPMENT STAGE                       ($ 11,166)    ($ 18,182)    ($130,722)
                                          =========     =========     =========


NET LOSS PER SHARE (a)                    ($   0.03)    ($   0.06)    ($   0.43)
                                          ---------     ---------     ---------

WEIGHTED AVERAGE SHARES
   OUTSTANDING                              320,000       320,000       304,285
                                          =========     =========     =========

DIVIDENDS DECLARED
   PER SHARE                                   --            --            --
                                          =========     =========     =========


                 See accompanying notes to financial statements.

                                       F-3
<PAGE>


                              RENEGADE VENTURE (NEV.) CORPORATION
                                 (a development stage company)
                         STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
                                     PERIOD FROM INCEPTION
                                      (FEBRUARY 13, 1989)
                                     TO DECEMBER 31, 2001

                                                                         Deficit
                                                                       Accumulated
                                      Common stock                        During
                                  No. of Shs                 Paid-in   Development
                                   (000's)      Dollars      Capital      Stage        Total
                                  ---------    ---------    ---------   ---------    ---------

Issuance of common stock,
  net of issuance costs              32,000    $   3,200    $  59,925                $  63,125

Reverse stock-split
  August 9, 1996 -
   Cancel outstanding shares        (32,000)
   Issue replacement shares             320

Eliminate par value
  August 9, 1996                                  59,925      (59,925)                    --

Reinstate par value upon
  redomiciliation to Nevada                      (62,805)      62,805                     --

Loss for the period from
  inception (February 13, 1989)
  to December 31, 1999                                                  ($101,374)    (101,374)
                                  ---------    ---------    ---------   ---------    ---------
Balance - December 31, 1999             320          320       62,805    (101,374)     (38,249)

Loss for the period ended
  December 31, 2000                                                       (18,182)     (18,182)
                                  ---------    ---------    ---------   ---------    ---------
Balance - December 31, 2000             320          320       62,805    (119,556)     (56,431)

Loss for the period ended
  December 31, 2001                                                       (11,166)     (11,166)
                                  ---------    ---------    ---------   ---------    ---------
Balance - December 31, 2001             320    $     320    $  62,805   ($130,722)   ($ 67,597)
                                  =========    =========    =========   =========    =========


           The accompanying notes are an integral part of this financial statement.

                                              F-4
<PAGE>


                       RENEGADE VENTURE (NEV.) CORPORATION
                          (a development stage company)
                             STATEMENT OF CASH FLOWS

                                                Year Ended        Period From Inception
                                                December 31,       (February 13, 1989)
                                             2001          2000   to December 31, 2001
                                          ---------     --------- --------------------
CASH FLOWS FROM OPERATING
 ACTIVITIES
  Net loss                                ($ 11,166)    ($ 18,182)    ($130,722)
  Adjustments to reconcile net
  loss to net cash used by
  operating activities:
    Amortization                               --            --           1,760
    Increase in accounts payable              5,746         8,007        60,857
    Increase in accrued interest                416          --             416
                                          ---------     ---------     ---------
Net cash provided by operating
  activities                                 (5,004)      (10,175)      (67,689)
                                          ---------     ---------     ---------
CASH FLOWS FROM FINANCING
  ACTIVITIES:
  Net proceeds from issuance of
    common stock                               --            --          63,125
  Proceeds from loan from officer             5,250         1,750         7,000
                                          ---------     ---------     ---------
  Net cash provided by
    financing activities                      5,250         1,750        70,125
                                          ---------     ---------     ---------
CASH FLOWS FROM INVESTING
  ACTIVITIES
  Organization costs incurred                  --            --          (1,760)
                                          ---------     ---------     ---------

  Net cash used by
    investing activities                          0             0        (1,760)

 NET INCREASE (DECREASE)
   IN CASH                                      246        (8,425)          676

CASH AND CASH EQUIVALENTS -
   BEGINNING OF PERIOD                          430         8,855             0
                                          ---------     ---------     ---------
CASH AND CASH EQUIVALENTS -
   END OF PERIOD                          $     676     $     430     $     676
                                          =========     =========     =========



     The accompanying notes are an integral part of this financial statement

                                       F-5
</TABLE>
<PAGE>


                       RENEGADE VENTURE (Nev.) CORPORATION
                          (a development stage company)
                          NOTES TO FINANCIAL STATEMENTS
                                DECEMBER 31, 2001

1. General and Summary of Significant Accounting Policies
---------------------------------------------------------

Renegade Venture (Nev.) Corporation, formerly Renegade Venture Corporation, (the
"Company") was incorporated on February 13, 1989. The Company was formed as a
Blank Check Company to obtain funding from a public offering in order to provide
a vehicle to acquire or engage in business opportunities that management
believes have potential for profitability. Through December 31, 2001 the Company
had been seeking a viable prospective opportunity and had not engaged in any
other activities.

During 1997, the Company was redomiciled as a Nevada corporation through a
merger with a newly formed Nevada corporation, Renegade Venture (Nev.)
Corporation, a wholly-owned subsidiary of Renegade Venture Corporation.

The accompanying financial statements have been prepared on a going concern
basis, which contemplates the realization of assets and satisfaction of
liabilities in the normal course of business. As shown in the accompanying
financial statements, the Company is a development stage company with no
revenues as of December 31, 2001 and has incurred losses of $130,722 since
inception (February 13, 1989). The Company has no operating history or revenue,
and expects losses to continue in the foreseeable future until a suitable,
profitable merger partner is located. The Company has exhausted all of the cash
raised by its initial public offering, and is now relying on loans from officers
and stockholders to meet cash flow needs. These factors, among others, may
indicate that the Company will be unable to continue as a going concern for a
reasonable amount of time.

Officers and stockholders plan to continue advancing funds on an as-needed basis
(see note 3). The Company also intends to continue seeking a suitable merger
partner which would provide capital through operations. There is no assurance,
however, that the officers and stockholders will continue to advance funds or
that a suitable merger partner will be located. These factors, among others,
raise substantial doubt about the Company's ability to continue as a going
concern. The financial statements do not include any adjustments that might
result from the outcome from this uncertainty.

Following is a summary of significant accounting policies.

Development stage - The Company is in the development stage, as defined in the
Statement of Financial Accounting Standards No. 7, as revenues have not yet been
generated from planned operations. The Company intends to continue its efforts
to find a suitable merger candidate in accordance with its original operating
plan.

Cash and cash equivalents - Cash held by trustee, certificates of deposit and
checking accounts are considered cash and cash equivalents for purposes of the
statement of cash flows.

                                      F-6
<PAGE>


1. General and Summary of Significant Accounting Policies (cont.)
-----------------------------------------------------------------

Organization costs - Certain costs incurred to set up the Company were
capitalized and amortized over five years. These costs are fully amortized.

Income taxes - The Company accounts for income taxes under Statement of
Financial Accounting Standards No. 109 ("FASB No. 109"). Temporary differences
are differences between the tax basis of assets and liabilities and their
reported amounts in the financial statements that will result in taxable or
deductible amounts in future years. The Company's temporary difference consists
of net operating loss carryforwards.


2. Related Party Transactions
-----------------------------

Through April 9, 1994 the Company maintained its office at the office of the
former president of the Company. No rent was ever paid by the Company to this
former president. Bookkeeping and office management duties were performed by the
spouse of the former president of the Company. Fees of $90 to $125 per month
were paid from 1991 through March, 1994 for these services.

Since 1994, the Company has maintained its office at the office of the Company's
legal counsel, who is also a director of the Company. No rent is charged to the
company for the use of this office space. During 2001 and 2000 this director
charged the Company $5,500 and $8,000, respectively, for legal services
performed during each year. All of these fees are unpaid and included in
accounts payable the accompanying financial statements. All of the $60,857 of
accounts payable balance included on the financial statements as of December 31,
2001 was due to this director for legal fees and related expenses.


3. Notes Payable - Stockholders
-------------------------------

Two different officers advanced the Company funds during 2000 and 2001. The
balances were as follows as of December 31, 2001.

President and CEO, no collateral,
interest at 8%, payable upon demand             $2,500

Director, no collateral, interest at
8%; principal and interest payable
upon demand                                      4,500
                                                ------


Total, all current                              $7,000
                                                ======

Interest totaling $416 had accrued on these two notes as of December 31, 2001.
The officers who made these loans have committed to continue loaning funds to
the company on as as-needed basis under similar terms for the foreseeable
future.

                                       F-7
<PAGE>


4. Common Stock Transactions
----------------------------

During 1989, the Company completed a public offering. The Company sold 5,000,000
units consisting of 2 shares of $.0001 par value common stock and one Class A
common stock purchase warrant at $.02 per unit. The Class A warrants entitled
the holder to purchase one share of common stock at $.02 per share, and receive
one Class B warrant which entitled the holder to purchase one share of common
stock at $.04 per share. In addition, the underwriter was issued warrants which
entitled them to purchase 500,000 of the public offering units discussed above
with an exercise price of $.024 per unit for a flat fee of $50. A total of
$100,050 was raised in this initial public offering, less $37,425 in offering
costs.

Prior to the initial public offering, 22,000,000 common shares were issued to
the founder and other insiders for their efforts in setting up the Company.

During 1989, an additional 7,500,000 Class A warrants were issued to
non-affiliated individuals for $500.

All warrants discussed above, including the Class A and B and Underwriter
warrants, have since expired unexercised.

No additional shares have been issued since this initial public offering
described above.

On April 9, 1994, the majority shareholder and founder of the Company sold 90%
of his interest to an unaffiliated group. At that time, the former officers and
directors resigned and control of the company shifted to the new majority
shareholders.

Effective August 9, 1996 the Company's articles of incorporation were amended,
making several changes affecting common stock. A reverse-stock split was
approved, whereby 100 shares of the original common stock were replaced with one
share of common stock. This action reduced the number of outstanding common
shares from 3,200,000 to 320,000. The par value of the common stock was changed
from $.0001 to no par value. What was formerly reported as "Additional paid-in
capital" which totaled $59,925 was reclassified as common stock.

The number of authorized common shares was increased from 32,000,000 to
50,000,000. Finally, the number of authorized preferred shares was changed to
5,000,000 and the original par value of $.10 was changed to no par value. No
preferred shares have ever been issued by the Company.

As part of the 1997 redomiciliation to Nevada (see below), statutory par value
of $.001 for both common and preferred stock was established.

During 1996, the Company's shareholders approved the 1994 Compensatory Stock
Option Plan. The plan provides for options to purchase up to 2,000,000 shares of
common stock, after the reverse-stock split discussed above. The options give
the right to purchase common stock at "fair market value" as determined by the

                                       F-8
<PAGE>


4. Common Stock Transactions (cont.)
------------------------------------

Board of Directors at the date of issuance for a period of up to five years.
During 1996, the Company's shareholders also approved the 1994 Employee Stock
Compensation Plan. This plan allows for up to 1,000,000 shares of common stock,
after the reverse-stock split discussed above, to be issued to key employees,
officers, directors and certain other persons affiliated with the Company as
compensation.

During 1997, the company redomiciled to the state of Nevada by merging with a
newly formed Nevada corporation, Renegade Venture (Nev.) Corporation. Each share
of Renegade Venture Corporation was converted into one fully paid,
non-assessable share of the new corporation.

As part of the 1997 redomiciliation to Nevada, the 1994 plans described above
were adopted and renamed the 1997 Compensatory Stock Option Plan and the 1997
Employee Stock Compensation Plan.

On May 5, 2000, the Company issued 1,000,000 stock options to two directors
under the 1997 Compensatory Stock Option plan. The option price is $.05 per
share and the options expire May 4, 2002. As of December 31, 2001, no common
shares of stock under the Employee Stock Compensatory Plan had been issued.


5. Income Taxes
---------------

The difference between the tax basis of assets and liabilities gives rise to a
net deferred tax asset of approximately $26,000 consisting of the tax effects of
net operating loss carryforwards. As of December 31, 2001, a valuation allowance
equal to the net deferred tax asset recognized has been recorded, as it was
determined that the deferred tax asset may never be realized.

At December 31, 2001, the Company has a net operating loss carryforward of
approximately $130,000 which expires between the years ended December 31, 2005
and 2016.


6. 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 the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting periods.
Actual amounts could differ from those estimates.

                                       F-9
<PAGE>


                                   SIGNATURES


     In accordance with section 13 or 15(d) of the Securities Exchange Act of
1934, the Registrant caused this Report on Form 10-KSB to be signed on its
behalf by the undersigned, thereto duly authorized individual.

Date:  March 25, 2002
                                       RENEGADE VENTURE (NEV.) CORPORATION



                                       By: /s/ Randy J. Sasaki
                                       -----------------------
                                       Randy J. Sasaki, President,
                                       Chief Executive Officer,
                                       Chief Financial and Accounting Officer




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

        Name                            Title                            Date
        ----                            -----                            ----

/s/ Randy J. Sasaki            Director, President, Chief              3/25/2002
-------------------            Executive Officer, Chief
Randy J. Sasaki                Financial Officer, Chief
                               Accounting Officer


                               Secretary, Director
-------------------
Thomas Liston


/s/ John D. Brasher Jr.        Director                                3/25/2002
-----------------------
John D. Brasher Jr.




                                       22