U. S. Securities and Exchange Commission
                     Washington, D. C. 20549

                           FORM 10-KSB

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

     For the fiscal year ended June 30, 2001

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

     For the transition period from _________________ to __________________

                 Commission File No.  0-23511

                        FIRST DELTAVISION, INC.
          (Name of Small Business Issuer in its Charter)


           NEVADA                                       87-0412182
  (State or Other Jurisdiction of              (I.R.S. Employer I.D. No.)
 incorporation or organization)

                          9005 Cobble Canyon Lane
                            Sandy, Utah 84093
             (Address of Principal Executive Offices)

            Issuer's Telephone Number:  (801) 942-0555

Securities Registered under Section 12(b) of the Exchange Act:      None.

Securities Registered under Section 12(g) of the Exchange Act: $0.001 par
value common stock

     Check whether the Issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the Registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.

     (1)   Yes  X    No            (2)   Yes  X    No

     Check if there is no disclosure of delinquent filers in response to Item
405 of Regulation S-B is not 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.  [ ]

State Issuer's revenues for its most recent fiscal year: June 30, 2001-$0

<PAGE>
     State the aggregate market value of the common voting stock held by
non-affiliates computed by reference to the price at which the stock was sold,
or the average bid and asked prices of such stock, as of a specified date
within the past 60 days.

     September 28, 2001 - $69.80.  There are approximately 69,802 shares of
common voting stock of the Registrant held by non-affiliates.  Since 1988,
there has been no "public market" for shares of common stock of the
Registrant, so the Registrant has arbitrarily valued these shares on the basis
of par value per share or $0.001.

           (ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
                  DURING THE PAST FIVE YEARS)

                         Not Applicable.

           (APPLICABLE ONLY TO CORPORATE REGISTRANTS)

          State the number of shares outstanding of each of the Issuer's
classes of common equity, as of the latest practicable date:

                           September 20, 2001

                               335,500

               DOCUMENTS INCORPORATED BY REFERENCE

          A description of "Documents Incorporated by Reference" is
contained in Item 13 of this Report.


   Transitional Small Business Issuer Format   Yes  X   No ___

                              PART I

Item 1.  Description of Business.

Business Development.
---------------------

     Pursuant to a Proxy Statement filed with the Securities and Exchange
Commission on June 9, 2000, and resolutions of its stockholders, First
Deltavision, Inc. (the "Company") approved a forward split of 1.85567 for
one of the outstanding common stock of the Company; however, the Board of
Directors has not yet determined whether the reasons for submitting this
forward split to its stockholders are still viable, so it has not yet been
implemented.  The Company's Proxy Statement is incorporated herein by
reference.  See the Exhibit Index, Part III, Item 13.

     Except as indicated above and in the Company's 10-SB Registration
Statement, as amended, which was filed with the Securities and Exchange
Commission on December 16, 1997, which became effective on or about February
14, 1998, and which is incorporated herein by reference, there have been no
material developments during the most recent fiscal year. See the Exhibit
Index, Part III, Item 13.

Business.
---------

     Management intends to consider guidelines of industries in which the
Company may have an interest; (ii) adopt a business plan regarding engaging in
business in any selected industry; and (iii) to commence such operations
through funding and/or the acquisition of a "going concern" engaged in any
industry selected.

     The Company is unable to predict the time as to when and if it may
actually participate in any specific business endeavor, and will be unable to
do so until it determines the particular industries of interest to the
Company.

Effects of Existing or Probable Governmental Regulations.
---------------------------------------------------------

     Penny Stock.
     ------------

     Our common stock is "penny stock" as defined in Rule 3a51-1 of the
Securities and Exchange Commission.  Penny stocks are stocks:

          with a price of less than five dollars per share;

          that are not traded on a "recognized" national exchange;

          whose prices are not quoted on the NASDAQ automated quotation
          system; or

          in issuers with net tangible assets less than $2,000,000, if the
          issuer has been in continuous operation for at least three
          years, or $5,000,000, if in continuous operation for less than
          three years, or with average revenues of less than $6,000,000 for
          the last three years.

     Section 15(g) of the Securities Exchange Act of 1934 (the "Exchange Act")
and Rule 15g-2 of the Securities and Exchange Commission require
broker/dealers dealing in penny stocks to provide potential investors with a
document disclosing the risks of penny stocks and to obtain a manually signed
and dated written receipt of the document before making any transaction in a
penny stock for the investor's account.  You are urged to obtain and read this
disclosure carefully before purchasing any of our shares.

     Rule 15g-9 of the Securities and Exchange Commission requires
broker/dealers in penny stocks to approve the account of any investor for
transactions in these stocks before selling any penny stock to that investor.
This procedure requires the broker/dealer to:

          get information about the investor's financial situation,
          investment experience and investment goals;

          reasonably determine, based on that information, that transactions
          in penny stocks are suitable for the investor and that the
          investor can evaluate the risks of penny stock transactions;

          provide the investor with a written statement setting forth the
          basis on which the broker/dealer made his or her determination;
          and

          receive a signed and dated copy of the statement from the
          investor, confirming that it accurately reflects the investor's
          financial situation, investment experience
          and investment goals.

     Compliance with these requirements may make it harder for our
stockholders to resell their shares.

     Reporting Obligations.
     ----------------------

     Section 14(a) of the Exchange Act requires all companies with securities
registered pursuant to Section 12(g) of the Exchange Act to comply with the
rules and regulations of the Securities and Exchange Commission regarding
proxy solicitations, as outlined in Regulation 14A.  Matters submitted to
stockholders of the Company at a special or annual meeting thereof or pursuant
to a written consent will require the Company to provide its stockholders with
the information outlined in Schedules 14A or 14C of Regulation 14; preliminary
copies of this information must be submitted to the Securities and Exchange
Commission at least 10 days prior to the date that definitive copies of this
information are forwarded to stockholders.

     The Company is also required to file annual reports on Form 10-KSB
and quarterly reports on Form 10-QSB with the Securities Exchange Commission
on a regular basis, and will be required to timely disclose certain material
events (e.g., changes in corporate control; acquisitions or dispositions of a
significant amount of assets other than in the ordinary course of business;
and bankruptcy) in a Current Report on Form 8-K.

     Small Business Issuer.
     ----------------------

     The integrated disclosure system for small business issuers adopted by
the Securities and Exchange Commission in Release No. 34-30968 and effective
as of August 13, 1992, substantially modified the information and financial
requirements of a "Small Business Issuer," defined to be an issuer that has
revenues of less than $25,000,000; is a U.S. or Canadian issuer; is not an
investment company; and if a majority-owned subsidiary, the parent is also a
small business issuer; provided, however, an entity is not a small business
issuer if it has a public float (the aggregate market value of the issuer's
outstanding securities held by non-affiliates) of $25,000,000 or more.  The
Company is deemed to be a "small business issuer."

     The Securities and Exchange Commission, state securities commissions
and the North American Securities Administrators Association, Inc. ("NASAA")
have expressed an interest in adopting policies that will streamline the
registration process and make it easier for a small business issuer to have
access to the public capital markets.

Number of Employees.
--------------------

     None.

Item 2.  Description of Property.
---------------------------------

     The Company has no assets, property or business. Its principal
executive office address and telephone number are the home address and
telephone number of its President, David C. Merrell, and are provided at no
cost.  Because the Company has no current business operations, its activities
have been limited to keeping itself in good standing in the State of Nevada,
and with preparing reports required to be filed with the Securities and
Exchange Commission and related financial statements.  These activities have
consumed an insignificant amount of management's time; accordingly, the costs
to Mr. Merrell of providing the use of his home and telephone have been
minimal.

Item 3.  Legal Proceedings.
---------------------------

     The Company is not the subject of any pending legal proceedings; and to
the knowledge of management, no proceedings are presently contemplated against
the Company by any federal, state or local governmental agency.

     Further, to the knowledge of management, no director or executive
officer is party to any action in which any has an interest adverse to the
Company.

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

     None, not applicable
                             PART II

Item 5.  Market for Common Equity and Related Stockholder Matters.
------------------------------------------------------------------

Market Information.
-------------------

     The Company's common stock is quoted on the OTC Bulletin Board of the
National Association of Securities Dealers, Inc. (the "NASD") under the symbol
"FDVS", with quotations that commenced in November, 1998; however, the market
for shares of the Company's common stock is extremely limited. No assurance
can be given that the present limited market for the Company's common stock
will continue or will be maintained, and the sale of the Company's common
stock pursuant to Rule 144 of the Securities and Exchange Commission by David
C. Merrell, the Company's President, and other principal stockholders, may
have a substantial adverse impact on any such public market.  All of the
"restricted securities" of the Company that are outstanding have satisfied the
required holding period of Rule 144. See Part II, Item 11.

     The high and low closing bid prices for shares of common stock of the
Company since November, 1998, and for each quarter within the last two fiscal
years, or the applicable period when there were quotations are as follows:

<TABLE>
<CAPTION>

                                        Bid
Quarter ending:             High                   Low
---------------             ----                   ---
<S>                         <C>                    <C>
November 10, 1998

through
December 31, 1998            $.125                $.125

January 4, 1999
through
March 31, 1999               $.125                $.125

April 1, 1999
through
June 30, 1999                $.125                $.125

July 1, 1999
through
September 30, 1999           $1.50                $.125

October 1, 1999
through
December 31, 1999            $1.50               $1.50

January 3, 2000
through
March 31, 2000               $1.50               $1.50


April 3, 2000
through
June 30, 2000                $1.50               $1.50

July 3, 2000
through
September 29, 2000           $1.50               $1.50

October 2, 2000
through
December 29, 2000            $1.50               $0.0625

January 2, 2001
through
March 30, 2001               $0.0625             $0.0625

April 2, 2001
through
June 29, 2001                $1.00               $0.0625
</TABLE>

     These bid prices were obtained from the National Quotation Bureau, LLC
("NQB") and do not necessarily reflect actual transactions, retail markups,
mark downs or commissions.

     No assurance can be given that any "established public market" will
develop in the common stock of the Company, or if any such market does
develop, that it will continue or be sustained for any period of time.

Recent Sales of Unregistered Securities.
----------------------------------------

                       Date              Number of           Aggregate
     Name            Acquired             Shares           Consideration
     ----            --------            ---------         -------------

David C. Merrell       8/16/00              50,000            Services

Leonard W. Burningham  8/16/00              50,000            Services

     The foregoing persons are believed to be "accredited investors."  Mr.
Merrell is a current director and executive officer of the Company; and
Leonard W. Burningham, Esq. is counsel for the Company.  The offers and sales
of these securities are believed to have been exempt from the registration
requirements of Section 5 of the Securities Act of 1933, as amended, pursuant
to Section 4(2) thereof, and from similar states' securities laws, rules and
regulations requiring the offer and sale of securities by available state
exemptions from such registration.

Holders.
--------

     The number of record holders of the Company's common stock as of
June 30, 2001, were approximately 170; these numbers do not include an
indeterminate number of stockholders whose shares may be held by brokers in
street name.  As of September 20, 2000, there were still approximately 170
stockholders.

Dividends.
----------

     There are no present material restrictions that limit the ability
of the Company to pay dividends on common stock or that are likely to do so in
the future.  The Company has not paid any dividends with respect to its common
stock, and does not intend to pay dividends in the foreseeable future.

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

Plan of Operation.
------------------

     The Company's plan of operation for the next 12 months is to:(i)
consider guidelines of industries in which the Company may have an interest;
to (ii) adopt a business plan regarding engaging in business in any selected
industry; and to (iii) commence such operations through funding and/or the
acquisition of a "going concern" engaged in any industry selected.

     The Company's only foreseeable cash requirements during the next 12
months will relate to maintaining the Company in good standing in the State
of Utah.  Management does not anticipate that the Company will have to
raise additional funds during the next 12 months.

Results of Operations.
----------------------

     The Company has had no material operations since 1989.  The Company had
losses of ($17,244) and ($13,044), respectively, for the fiscal years ended
June 30, 2001 and 2000.  These losses are primarily related to maintaining the
Company in good standing and "due diligence" activities with respect to its
history and past operations.  These activities have included, for example,
confirming good standing, reviewing stock transfer records and Articles of
Incorporation, as amended, and arranging for the preparation and auditing of
financial statements.

Liquidity.
----------

     The Company had no current assets for the period ended June 30, 2001,
with $56,845 in current liabilities for the same period.

Item 7.  Financial Statements.
------------------------------

<PAGE>
                     FIRST DELTAVISION, INC.
                  [A Development Stage Company]

                       FINANCIAL STATEMENTS

                          JUNE 30, 2001
<PAGE>
                     FIRST DELTAVISION, INC.
                  [A Development Stage Company]




                              CONTENTS

                                                               PAGE

           Independent Auditors' Report                                1


           Balance Sheet, June 30, 2001                                2


           Statements of Operations, for the years ended               3
             June 30, 2001 and 2000 and from inception
             on July 31, 1984 through June 30, 2001

           Statement of Stockholders' (Deficit), from
             inception on July 31, 1984 through June 30, 2001      4 - 5


           Statements of Cash Flows, for the years ended               6
             June 30, 2001 and 2000 and from inception on
             July 31, 1984 through June 30, 2001

           Notes to Financial Statements                          7 - 10
<PAGE>



                   INDEPENDENT AUDITORS' REPORT



Board of Directors
FIRST DELTAVISION, INC.
Salt Lake City, Utah

We have audited the accompanying balance sheet of First Deltavision, Inc. [a
development stage company] at June 30, 2001, and the related statements of
operations, stockholders' (deficit) and cash flows for the years ended June
30, 2001 and 2000 and for the period from inception on July 31, 1984 through
June 30, 2001.  These financial statements are the responsibility of the
Company's management.  Our responsibility is to express an opinion on these
financial statements based on our audit.  The financial statements of First
Deltavision, Inc. for the period from inception on July 31, 1984 to June 30,
1999 were audited by other auditors whose report dated September 28, 1999
expressed an unqualified opinion on those statements and included an
explanatory paragraph regarding the Company's ability to continue as a going
concern. The financial statements for the period from inception (July 31,
1984) to June 30, 1999 reflect a net loss of $129,168 of the total inception
to date net loss of $159,456.  Our opinion, insofar as it relates to the
amounts included for such prior periods, is based solely on the report of such
other auditors.

We conducted our audit in accordance with generally accepted auditing
standards.  Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of
material misstatement.  An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements.  An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation.  We believe that our audit provides a reasonable basis
for our opinion.

In our opinion, based on our audit and the reports of other auditors for the
cumulative information for the period from inception on July 31, 1984 to June
30, 1999, the financial statements audited by us present fairly, in all
material respects, the financial position of First Deltavision, Inc. [a
development stage company] as of June 30, 2001 and the results of its
operations and its cash flows for the years ended June 30, 2001 and 2000 and
for the period from inception on July 31, 1984 through June 30, 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 5 to the financial
statements, the company has no on-going operations, has incurred substantial
losses since its inception, has current liabilities in excess of assets and
has no working capital.  These factors raise substantial doubt about its
ability to continue as a going concern.  Management's plans in regards to
these matters are also described in Note 5.  The financial statements do not
include any adjustments that might result from the outcome of these
uncertainties.


/S/Pritchett, Siler & Hardy
PRITCHETT, SILER & HARDY, P.C.
August 1, 2001
Salt Lake City, Utah
<PAGE>
<TABLE>
                     FIRST DELTAVISION, INC.
                  [A Development Stage Company]

                          BALANCE SHEET

                              ASSETS
<CAPTION>


                                                             June 30,
                                                               2001
                                                           ___________
<S>                                                       <C>
CURRENT ASSETS                                             $     -
                                                           ___________
        Total Current Assets                                     -
                                                           ___________
                                                           $     -
                                                           ___________

             LIABILITIES AND STOCKHOLDERS' (DEFICIT)

CURRENT LIABILITIES:
  Accounts payable                                         $       500
  Accounts payable   related party                              32,678
  Due to officers                                               23,667
                                                           ___________
        Total Current Liabilities                               56,845
                                                           ___________

STOCKHOLDERS' (DEFICIT):
  Common stock, $.001 par value, 50,000,000
   shares authorized, 335,500 shares issued
   and outstanding                                                 335
  Capital in excess of par value                               102,276
  Deficit accumulated during the development stage            (159,456)
                                                           ___________
        Total Stockholders' (Deficit)                          (56,845)
                                                           ___________
                                                           $         -
                                                           ___________
</TABLE>
The accompanying notes are an integral part of this financial statement.
<PAGE>
<TABLE>
                     FIRST DELTAVISION, INC.
                  [A Development Stage Company]


                     STATEMENTS OF OPERATIONS
<CAPTION>

                                                             From Inception
                                      For the Years Ended   on July 31,
                                          June 30,          1984 Through
                                       __________________     June 30,
                                       2001       2000         2001
                                       ___________________________________
<S>                                    <C>        <C>            <C>
REVENUE:
  Sales                                $        - $       -       $      -
                                        _________ _________       ________

        Total Revenue                           -         -              -
                                        _________ _________       ________

EXPENSES:
  General and administrative               17,244    13,044        159,456
                                        _________ _________       ________

        Total Expenses                    (17,244)  (13,044)      (159,456)
                                        _________ _________       ________

LOSS FROM OPERATIONS
  BEFORE INCOME TAXES                     (17,244)  (13,044)      (159,456)

CURRENT INCOME TAXES                            -         -              -

DEFERRED INCOME TAX                             -         -              -
                                        _________ _________       ________

NET LOSS                                $ (17,244)  (13,044)     $(159,456)
                                        _________ _________      _________
LOSS PER SHARE                          $    (.05)$    (.06)     $   (1.55)
                                        _________ _________      _________
</TABLE>
The accompanying notes are an integral part of these financial statements.
<PAGE>
<TABLE>
                     FIRST DELTAVISION, INC.
                  [A Development Stage Company]

              STATEMENT OF STOCKHOLDERS' (DEFICIT)

      FROM INCEPTION ON JULY 31, 1984 THROUGH JUNE 30, 2001

                                                            Deficit
                                                           Accumulated
                   Common Stock       Capital in           During the
             ______________________   Excess of  Retained  Development
                 Shares   Amount         Par      Deficit     Stage
             __________ ___________  ___________ ________  __________
<S>          <C>        <C>          <C>         <C>       <C>
BALANCE,
 July 31,
 1984                 - $         -  $         -        -  $        -

Shares issued
 to incorporators
 for cash        22,863          23       57,553        -           -

Net loss for
 the year
 ended
 June 30,
 1985                 -           -            -        -     (39,661)
             __________ ___________  ___________ ________  __________
BALANCE,
 June 30,
 1985            22,863          23       57,553        -     (39,661)

Capital
 contributed
 by shareholder       -           -        2,536        -           -

Net loss for
 year ended
 June 30, 1986        -           -            -        -     (20,451)
             __________ ___________  ___________ ________  __________
BALANCE,
 June 30,
 1986            22,863          23       60,089        -     (60,112)

Net loss
 for the
 year ended
 June 30, 1987        -           -            -        -           -
             __________ ___________  ___________ ________  __________
BALANCE,
 June 30,
 1987            22,863          23       60,089        -     (60,112)

Net loss
 for the
 year ended
 June 30,
 1988                 -           -            -        -           -
             __________ ___________  ___________ ________  __________
BALANCE,
 June 30,
 1988            22,863          23       60,089        -           -

Capital
 contributed
 by shareholder       -           -        1,044        -           -

Shares issued
 for cash at
 $.0002
 per share       24,160          24        1,176        -           -

Net loss for
 the year
 ended
 June 30,
 1989                 -           -            -        -      (2,107)
             __________ ___________  ___________ ________  __________
BALANCE,
 June 30,
 1989            47,023          47       62,309        -     (62,219)

Net loss
 for the
 year ended
 June 30,
 1990                 -           -            -        -        (183)
             __________ ___________  ___________ ________  __________
BALANCE,
 June 30,
 1990            47,023          47       62,309        -     (62,402)

Net loss
 for year
 ended
 June 30,
 1991                 -           -            -        -        (183)

BALANCE,
 June 30,
 1991            47,023 $        47  $    62,309 $      -  $  (62,585)

Net loss
 for year
 ended
 June 30,
 1992                 -           -            -        -        (183)


                                   [Continued]

<PAGE>
                     FIRST DELTAVISION, INC.
                  [A Development Stage Company]

              STATEMENT OF STOCKHOLDERS' (DEFICIT)

      FROM INCEPTION ON JULY 31, 1984 THROUGH JUNE 30, 2001

                           [Continued]
                                                            Earnings
                                                           Accumulated
                   Common Stock       Capital in           During the
             ______________________   Excess of  Retained  Development
                 Shares   Amount         Par      Deficit     Stage
             __________ ___________  ___________ ________  __________
BALANCE,
 June 30,
 1992            47,023          47       62,309        -     (62,768)

Net loss
 for year
 ended
 June 30,
 1993                 -           -            -        -        (183)
             __________ ___________  ___________ ________  __________
BALANCE,
 June 30,
 1993            47,023          47       62,309        -     (62,951)

Net loss
 for year
 ended
 June 30,
 1994                 -           -            -        -        (119)
             __________ ___________  ___________ ________  __________
BALANCE,
 June 30,
 1994            47,023          47       62,309        -     (63,070)

Net loss
 for year
 ended
 June 30,
 1995                 -           -            -        -        (118)
             __________ ___________  ___________ ________  __________
BALANCE,
 June 30,
 1995            47,023          47       62,309        -     (63,188)

Shares issued
 for services
 rendered
 valued at
 $.25 per
 share          152,977         153       37,847        -           -

Net loss
 for the
 year ended
 June 30,
 1995                 -           -            -        -     (38,118)
             __________ ___________  ___________ ________  __________
BALANCE,
 June 30,
 1996           200,000         200      100,156        -    (101,306)
Net loss
 for the
 year ended
 June 30,
 1997                 -           -            -        -      (7,940)
             __________ ___________  ___________ ________  __________
BALANCE,
 June 30,
 1997           200,000         200      100,156        -    (109,246)

Shares issued
 for services
 valued at
 $.04 per
 share           35,500          35        1,220        -           -

Net loss for
 the year
 ended
 June 30,
 1998                 -           -            -        -     (12,857)
             __________ ___________  ___________ ________  __________
BALANCE,
 June 30,
 1998           235,500         235      101,376        -    (122,103)

Net loss
 for the
 year ended
 June 30,
 1999                 -           -            -        -      (7,065)
             __________ ___________  ___________ ________  __________
BALANCE,
 June 30,
 1999           235,500         235      101,376        -    (129,168)

Net income
 for the
 year ended
 June 30,
 2000                 -           -            -        -     (13,044)
             __________ ___________  ___________ ________  __________
BALANCE,
 June 30,
 2000           235,500 $       235  $   101,376 $      -  $ (142,212)
             __________ ___________  ___________ ________  __________

Shares
issued for
debt relief
valued at
$.01 per
share           100,000         100          900        -

Net income
for the year
ended                 -           -            -        -     (17,244)
June 30, 2001 _________  __________   __________  _______  __________

BALANCE,
June 30, 2001   335,500  $      335   $  102,276  $     -  $ (159,456)
              _________  __________   __________  _______  __________
</TABLE>
The accompanying notes are an integral part of this financial statement .
<PAGE>
<TABLE>
                     FIRST DELTAVISION, INC.
                  [A Development Stage Company]
<CAPTION>
                     STATEMENTS OF CASH FLOWS


                                                             From Inception
                                      For the Years Ended   on July 31,
                                          June 30,          1984 Through
                                       __________________     June 30,
                                       2001       2000         2001
                                       ___________________________________
<S>                                    <C>        <C>         <C>
Cash Flows From Operating Activities:
  Net loss                              $ (17,244) $  (13,044) $ (159,456)
  Adjustments to reconcile net loss to
    net cash used by operating activities:
    Non cash expense                            -           -      39,255
    Stock issued for relief of debt         1,000           -       1,000
    Changes in assets and liabilities:
      (Decrease) in accounts payable      (24,138)      8,235         500
      Increase in accounts payable
       related party                       32,678           -      32,678
      Increase in due to officers           8,704       3,809      23,667
      Increase (decrease) in accrued
        expenses                           (1,000)      1,000           -
                                         ________    ________    ________
        Net Cash (Used) by Operating
        Activities                              -           -     (62,356)
                                         ________    ________    ________
Cash Flows From Investing Activities:
                                                -           -           -
                                         ________    ________    ________
        Net Cash (Used) by Investing
        Activities                              -           -           -
                                         ________    ________    ________
Cash Flows From Financing Activities:
  Proceeds from issuance of common stock        -           -      58,776
  Capital contributions                         -           -       3,580
                                         ________    ________    ________
        Net Cash Provided by Financing
        Activities                              -           -      62,356
                                         ________    ________    ________
Net Increase in Cash                            -           -           -

Cash at Beginning of the Year                   -           -           -
                                         ________    ________    ________
Cash at End of the Year                  $      -    $      -    $      -
                                         ________    ________    ________

Supplemental Disclosures of Cash Flow Information:

  Cash paid during the period for:
    Interest                             $      -    $      -    $      -
    Income taxes                         $      -    $      -    $      -

Supplemental Schedule of Noncash Investing and Financing Activities:
  For the year ended June 30, 2001:
     During August 2000, the Company issued 100,000 shares of common stock
for relief of debt.

  For the year ended June 30, 2000:
     None
</TABLE>
The accompanying notes are an integral part of these financial statements.
<PAGE>
                     FIRST DELTAVISION, INC.
                  [A Development Stage Company]

                  NOTES TO FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

       Organization   First Deltavision, Inc. (the Company) was organized
under the laws of the State of Utah on July 31, 1984 under the name of
Aquachlor Marketing.  The Company never engaged in business activities and was
suspended for failure to file annual reports and tax returns.  In
December 1988, all required reports and tax returns were filed and the Company
was reinstated by the State of Utah.

       On December 23, 1988, the Company merged with Aquachlor, Inc., a Nevada
Corporation, incorporated on December 20, 1988.  The Nevada Corporation became
the surviving corporation and changed its name to Deltavision, Inc.

       On March 25, 1997, the Company received a Certificate of Revival from
the State of Nevada using the name First Deltavision, Inc.

       The purpose of the Company as established by its Articles of
Incorporation is to engage in any lawful activity.  The Company has not
engaged in any business activities that have produced significant revenues and
therefore remains a development stage company as defined in SFAS No. 7.

       Development Stage   The Company is considered a development stage
company as defined in SFAS no. 7.

       Loss Per Share - The computation of loss per share of common stock is
based on the weighted average number of shares outstanding during the periods
presented, in accordance with Statement of Financial Accounting Standards No.
128, "Earnings Per Share" [See Note 6].

       Cash and Cash Equivalents - For purposes of the statement of cash
flows, the Company considers all highly liquid debt investments purchased with
a maturity of three months or less to be cash equivalents.

       Accounting Estimates - The preparation of financial statements in
conformity with generally accepted accounting principles required management
to make estimates and assumptions that effect the reported amounts of assets
and liabilities, the disclosures of contingent assets and liabilities at the
date of the financial statements, and the reported amounts of revenues and
expenses during the reporting period.  Actual results could differ from those
estimated by management.

       Recently Enacted Accounting Standards   Statement of Financial
Accounting Standards ("SFAS") No. 140, "Accounting for Transfers and Servicing
of Financial Assets and Extinguishments of Liabilities   a replacement of
FASB Statement No. 125", SFAS No. 141, "Business Combinations", SFAS No.
142, "Goodwill and Other Intangible Assets", and SFAS No. 143, "Accounting
for Asset Retirement Obligations", were recently issued.  SFAS No. 140,
141, 142, and 143 have no current applicability to the Company or their
effect on the financial statements would not have been significant.

       Restatement   The financial statements have been restated for all
periods presented to reflect a 248.399 for 1 reverse stock split on April 23,
1997 and a 5 for 1 forward stock split on December 9, 1988.
<PAGE>
                     FIRST DELTAVISION, INC.
                  [A Development Stage Company]

                  NOTES TO FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Continued]

       Reclassification -  The financial statements for years prior to June
30, 2001 have been reclassified to conform with the headings and a
classifications used in the June 30, 2001 financial statements.

NOTE 2   COMMON STOCK

       The Company issued 22,863 shares of stock upon incorporation for
$57,576.

       During the year ended June 30, 1989 the Company issued 24,160 shares of
common stock for $1,200.

       During 1996, the Company issued 152,977 shares of its previously
authorized but unissued common stock in lieu of cash for consulting fees
valued at $38,000 (or $.25 per share).  This issuance resulted in a change in
control of the Company.

       During the year ended June 30, 1998, the Company issued 35,500 shares
of common stock for services rendered.  Total proceeds amounted to $1,255
(or $.04 per share).  The Company previously reported the issuance as
35,000 shares of common stock.  The financial statements have been restated
for the years ended June 30, 1999 and 1998 to reflect the issuance of an
additional 500 shares of common stock related to services previously rendered.

       Compensation Agreement   In January 2000, the board of directors
approved a compensation agreement that included the issuance of a total of
100,000 shares of common stock to two shareholders, 50,000 to each, for
services rendered which were valued at $1,000.  The shares were issued in
August 2000 for $.01 per share.

       Stock Split   On December 9, 1988 the Company effected a 5 for 1
forward stock split.  On April 23, 1997 the Company effected a 248.399 for 1
reverse stock split.  The financial statements for all periods
presented have been restated to reflect these stock splits.

NOTE 3 - RELATED PARTY TRANSACTIONS

       Management Compensation   During the years ended June 30, 2001and 2000,
the Company did not pay any cash compensation to its officers and directors.

       Stock Compensation   During the year ended June 30, 2000, the Company
approved the issuance of 100,000 shares of common stock for legal and
professional services rendered pursuant to a compensation agreement [See
Note 2].  The services rendered were valued at $1,000 ( or $.01 per share).
The shares were issued in August 2000.

       Office Space - The Company has not had a need to rent office space.  An
officer/shareholder of the Company is allowing the Company to use his home
as a mailing address, as needed, at no expense to the Company.

       Expenses Paid   The Company's president has made advances to the
Company to pay current costs.  These advances total $23,667 at June 30, 2001,
bear no interest and are due to the President when funds become available.

       Accounts Payable   A shareholder of the Company has provided legal
services for the Company.  At June 30, 2001, the account payable to the
related party is $32,678.  This amount bears no interest and is due to the
shareholder when funds become available.  Of this amount, $24,638 was
reclassified from accounts payable when the Attorney became a related
party during the year ended June 30, 2001.
<PAGE>
                     FIRST DELTAVISION, INC.
                  [A Development Stage Company]

                  NOTES TO FINANCIAL STATEMENTS
NOTE 4 - INCOME TAXES

       The Company accounts for income taxes in accordance with Statement of
Financial Accounting Standards No. 109 "Accounting for Income Taxes" which
requires the liability approach for the effect of income taxes.

       The Company has available at June 30, 2001, unused operating loss
carryforwards of approximately $96,000, which may be applied against future
taxable income and which expire in various years through 2020.  If certain
substantial changes in the Company's ownership should occur, there could be
an annual limitation on the amount of net operating loss carryforward, which
can be utilized.  The amount of and ultimate realization of the benefits from
the operating loss carryforwards for income tax purposes is dependent, in
part, upon the tax laws in effect, the future earnings of the Company and
other future events, the effects of which cannot be determined.  Because of
the uncertainty surrounding the realization of the loss carryforwards the
Company has established a valuation allowance equal to the tax effect of the
loss carryforwards (approximately $33,000) at June 30, 2001 and, therefore, no
deferred tax asset has been recognized for the loss carryforwards.  The change
in the valuation allowance is approximately $6,000 for the year ended June 30,
2001.

NOTE 5   GOING CONCERN

       The accompanying financial statements have been prepared in conformity
with generally accepted accounting principles, which contemplate continuation
of the Company as a going concern.  However, the Company has no on-going
operations and has incurred losses since its inception.  Further, the Company
has current liabilities in excess of assets and has no working capital to pay
its expenses.  These factors raise substantial doubt about the ability of the
Company to continue as a going concern.  In this regard, management is
proposing to raise any necessary additional funds not provided by operations
through loans or through sales of its common stock or through a possible
business combination with another company.  There is no assurance that the
Company will be successful in raising this additional capital or achieving
profitable operations.  The financial statements do not include any
adjustments that might result from the outcome of these uncertainties.
<PAGE>
                     FIRST DELTAVISION, INC.
                  [A Development Stage Company]

                  NOTES TO FINANCIAL STATEMENTS

NOTE 6   LOSS PER SHARE

       The following data show the amounts used in computing income (loss) per
share and the effect on income and the weighted average number of shares of
dilutive potential common stock for the years ended June 30, 2001 and 2000
and for the period from inception on July 31, 1984 through June 30, 2001:



                                                             From Inception
                                         For the Years Ended   on July 31,
                                             June 30,          1984, Through
                                        _____________________    June 30,
                                         2001        2000          2001
                                        __________ __________  ____________
       Loss from continuing operations
       available to common stockholders
       (numerator)                      $ (17,244) $ (13,044)  $  (159,456)
                                        __________ __________  ____________

       Weighted average number of
         common shares outstanding
         used in earnings per share
         during the period (denominator)   322,623    235,500       102,997
                                        __________ __________  ____________

       Dilutive earnings per share was not presented, as the Company had no
common equivalent shares for all periods presented that would effect the
computation of diluted earnings per share.
<PAGE>

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

     The Company changed independent auditors due to the death of its former
principal accountant as detailed in an 8-K Current Report dated October 11,
2000.  This 8-K Current Report is incorporated herein by reference. See Part
III, Item 13.

                             PART III

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

Identification of Directors and Executive Officers.
---------------------------------------------------

     The following table sets forth, in alphabetical order, the names
and the nature of all positions and offices held by all directors and
executive officers of the Company during 2001, and the period or periods
during which each such director or executive officer served in his or her
respective positions.

                                         Date of             Date of
                     Positions           Election or        Termination
   Name                 Held             Designation        or Resignation

David C. Merrell    Director              5/21/96                *
                    President             5/21/96                *

Todd D. Ross        Director and          5/21/96                *
                    Secy./Treasurer       5/21/96                *

Term of Office.
---------------

     The term of office of the current directors shall continue until
the annual meeting of stockholders.  The annual meeting of the Board of
Directors immediately follows the annual meeting of stockholders, at
which officers for the coming year are elected.

Business Experience.
--------------------

     David C. Merrell, Director and President. Mr. Merrell is 42 years of age,
and since 1989, he has been the owner of DCM Finance, a Salt Lake City based
finance company that makes and brokers real estate loans.  Mr. Merrell
received his Bachelor of Science degree in Economics from the University of
Utah in 1981.

     Todd D. Ross.  Mr. Ross is 39 years of age, and since 1995, he has been a
partner in DCM Finance, a Salt Lake City Based finance company.  Mr. Ross
developed and manages DCM's Internet site.  He also reviews and submits
venture capital proposals for funding.  Since 1991, Mr. Ross has also been the
Lighting Director for the Utah Shakespearean Festival.

Family Relationships.
---------------------

     There are no family relationships between any directors or executive
officers of the Company, either by blood or by marriage.

Involvement in Certain Legal Proceedings.
-----------------------------------------

     Except as indicated below and to the knowledge of management,
during the past five years, no present or former director, person nominated to
become a director, executive officer, promoter or control person of the
Company:

          (1)  Was a general partner or executive officer of any business
               by or against which any bankruptcy petition was filed,
               whether at the time of such filing or two years prior
               thereto;

          (2)  Was convicted in a criminal proceeding or named the subject
               of a pending criminal proceeding (excluding traffic
               violations and other minor offenses);

          (3)  Was the subject of any order, judgment or decree, not
               subsequently reversed, suspended or vacated, of any court of
               competent jurisdiction, permanently or temporarily enjoining
               him from or otherwise limiting, the following activities:

               (i)  Acting as a futures commission merchant, introducing
                    broker, commodity trading advisor, commodity pool
                    operator, floor broker, leverage transaction merchant,
                    associated person of any of the foregoing, or as an
                    investment adviser, underwriter, broker or dealer in
                    securities, or as an affiliated person, director or
                    employee of any investment company, bank, savings and
                    loan association or insurance company, or engaging in
                    or continuing any conduct or practice in connection
                    with such activity;

                  (ii)   Engaging in any type of business practice; or

                 (iii)   Engaging in any activity in connection with the
                         purchase or sale of any security or commodity or
                         in connection with any violation of federal or
                         state securities laws or federal commodities
                         laws;

          (4)  Was the subject of any order, judgment or decree, not
               subsequently reversed, suspended or vacated, of any federal
               or state authority barring, suspending or otherwise limiting
               for more than 60 days the right of such person to engage in
               any activity described above under this Item, or to be
               associated with persons engaged in any such activity;

          (5)  Was found by a court of competent jurisdiction in a civil
               action or by the Securities and Exchange Commission to have
               violated any federal or state securities law, and the
               judgment in such civil action or finding by the Securities
               and Exchange Commission has not been subsequently reversed,
               suspended, or vacated; or

          (6)  Was found by a court of competent jurisdiction in a civil
               action or by the Commodity Futures Trading Commission to
               have violated any federal commodities law, and the judgment
               in such civil action or finding by the Commodity Futures
               Trading Commission has not been subsequently reversed,
               suspended or vacated.

Compliance with Section 16(a) of the Exchange Act.
--------------------------------------------------

     On or about May 13, 1998, each of the Company's current
directors and executive officers filed with the Securities and Exchange
Commission an Initial Statement of Beneficial Ownership of Securities on Form
3.

     On August 18, 2000, David C. Merrell filed with the Securities and
Exchange Commission a Statement of Changes in Beneficial Ownership on Form 4.

Item 10. Executive Compensation.
--------------------------------

Cash Compensation.
------------------

     The following table sets forth the aggregate compensation paid by
the Company for services rendered during the periods indicated:
<TABLE>
                    SUMMARY COMPENSATION TABLE


                           Long Term Compensation

                    Annual Compensation   Awards  Payouts

(a)             (b)   (c)   (d)   (e)   (f)   (g)   (h)    (i)

                                              Secur-
                                              ities        All
Name and   Year or               Other  Rest- Under- LTIP  Other
Principal  Period   Salary Bonus Annual rictedlying  Pay- Comp-
Position   Ended      ($)   ($)  Compen-Stock Optionsouts ensat'n
-----------------------------------------------------------------
<S>         <C>       <C>   <C>   <C>   <C>    <C>   <C>  <C>

David C.
Merrell,     6/30/01    0     0     0     0      0     0   0
President,   6/30/00    0     0     0     0      0     0   0
Director

Todd D.
Ross         6/30/01    0     0     0     0      0     0   0
Secretary/   6/30/00    0     0     0     0      0     0   0
Treasurer,
Director

</TABLE>
     No cash compensation, deferred compensation or long-term incentive
plan awards were issued or granted to the Company's management during the
fiscal years ending June 30, 2001, and 2000, or the period ending on
the date of this Report.  Further, no member of the Company's management has
been granted any option or stock appreciation right; accordingly, no tables
relating to such items have been included within this Item.  See the Summary
Compensation Table of this Item.

Compensation of Directors.
--------------------------

     There are no standard arrangements pursuant to which the Company's
directors are compensated for any services provided as director.  No
additional amounts are payable to the Company's directors for committee
participation or special assignments.

     There are no arrangements pursuant to which any of the Company's
directors was compensated during the Company's last completed fiscal year or
the previous two fiscal years for any service provided as director.  See the
Summary Compensation Table of this Item.

Termination of Employment and Change of Control Arrangement.
------------------------------------------------------------

     There are no compensatory plans or arrangements, including
payments to be received from the Company, with respect to any person named in
the Summary Compensation Table set out above which would in any way result in
payments to any such person because of his or her resignation, retirement or
other termination of such person's employment with the Company or its
subsidiaries, or any change in control of the Company, or a change in the
person's responsibilities following a change in control of the Company.

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

Security Ownership of Certain Beneficial Owners.
------------------------------------------------

     The following table sets forth the share holdings of those persons
who own more than five percent of the Company's common stock as of June 30,
2001 and as of the date of this report:

                                         Number and Percentage
                                   of Shares Beneficially Owned

Name and Address                        6/30/01               Today

David C. Merrell                     186,648   55.63%     186,648    55.63%
9005 Cobble Canyon Lane
Sandy, Utah 84093

Leonard W. Burningham, Esq.           79,050   23.56%      79,050    23.56
455 East 500 South, Suite #205
Salt Lake City, Utah 84111

TOTALS                               265,698   79.19%     265,698    79.19%

     On August 16, 2000, 50,000 shares were issued to David C. Merrell and
50,000 shares were issued to Leonard W. Burningham, Esq. for services
rendered.  These shares were to be issued under an S-8 Registration Statement
that has not yet been filed, as outlined in the Company's Proxy Statement
filed with the Securities and Exchange Commission on January 18, 2000, which
is incorporated herein by reference.  See Part III, Item 13.

Security Ownership of Management.
---------------------------------

     The following table sets forth the share holdings of the Company's
directors and executive officers as of June 30, 2001 and as of the date of
this Report:

                                      Number and Percentage
                               of Shares Beneficially Owned

Name and Address                          6/30/01              Today

David C. Merrell                     186,648    55.63%   186,648     55.63%
9005 Cobble Canyon Lane
Sandy, Utah 84093

Todd D. Ross                           4,027     1.20%     4,027      1.20%
38 South 1650 West
Cedar City, Utah 84720

TOTALS                               190,675    56.83%   190,675     56.83%

Changes in Control.
-------------------

     There are no present arrangements or pledges of the Company's securities
which may result in a change in its control.

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

     The following transactions occurred between the Company and members of
management, five percent stockholders and promoters or founders of the Company
during the past three fiscal years:

     Issuance of 50,000 shares of "restricted securities" of the Company to
     David C. Merrell in August, 2000.

     Issuance of 50,000 shares of "restricted securities" of the Company to
     Leonard W. Burningham in August, 2000.

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

Reports on Form 8-K.
--------------------

     8-K Current Report dated October 10, 2000, filed with the Securities and
Exchange Commission on October 11, 2000.

                                             Exhibit
Exhibits*                                    Number

          (i)

          None

          (ii)                   Where Incorporated
                                   In This Report

Form 10-SB Registration Statement,                 Part I              **
as amended filed on December 16, 1997

Form 10-KSB Annual Report for the                  Part I              **
fiscal year ended June 30, 1999

Proxy Statement filed with the                     Part I, II          **
Securities and Exchange Commission
on January 18, 2000

Proxy Statement filed with the                     Part I, II          **
Securities and Exchange Commission
on June 6, 2000

      *   A summary of any Exhibit is modified in its entirety by reference
          to the actual Exhibit.

     **   These documents and related exhibits have previously been filed
          with the Securities and Exchange Commission and are incorporated
          herein by this reference.

                            SIGNATURES

          Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Registrant has duly caused this Report to
be signed on its behalf by the undersigned, thereunto duly authorized.

                                  FIRST DELTAVISION, INC.


Date: 9/28/01                     By/s/David C. Merrell
                                  David C. Merrell
                                  President and Director


Date: 9/28/01                     By/s/Todd D. Ross
                                  Todd D. Ross
                                  Secretary/Treasurer and Director

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

                                  FIRST DELTAVISION, INC.


Date: 9/28/01                     By/s/David C. Merrell
                                  David C. Merrell
                                  President and Director


Date: 9/28/01                     By/s/Todd D. Ross
                                  Todd D. Ross
                                  Secretary/Treasurer and Director