<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

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

                  For the Quarterly Period Ended: June 30, 2005


             [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934
            For transition period from __________ to _______________


                         Commission File Number: 0-25548

                         TECHNOLOGY VISIONS GROUP, INC.,
                         -------------------------------
                 (Name of small business issuer in its charter)


          Delaware                                       84-100269
--------------------------------            ------------------------------------
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
 incorporation or organization)


                              17080 Newhope Street
                        Fountain Valley, California 92708
                    (Address of principal executive offices)

        Registrant's telephone number, including area code: (714) 427-0388
        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
                                (Title of class)


     Check whether the issuer (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the Registrant was required to file
such reports), and (2) has been subject to the filing requirements for at least
the past 90 days.

                               Yes [X]     No [ ]

     At August 12, 2005, 99,999,999 shares of common stock were outstanding.

Transitional Small Business Disclosure Format: Yes [ ]   No [X]

<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                              INDEX TO FORM 10-QSB
                                  JUNE 30, 2005


                                                                            Page
                                                                            ----
PART I
------

Item 1.   Financial Statements

          Balance Sheet - June 30, 2005 (unaudited)..........................  1

          Statements of Operations (unaudited) -- Three and Six
             Months Ended June 30, 2005 and 2004 and for the Period
             of Inception, January 1, 1995 through June 30, 2005.............  2

          Statements of Cash Flows (unaudited) - Six Months Ended
             June 30, 2005 and 2004 and for the Period of Inception,
             January 1, 1995 through June 30, 2005...........................  3

          Notes to Financial Statements (unaudited)..........................  5

Item 2.   Management's Discussion and Analysis of
          Financial Condition and Results of Operations...................... 13

Item 3.   Controls and Procedures............................................ 18


PART II
-------

Item 1.   Legal Proceedings.................................................. 19

Item 2.   Changes In Securities.............................................. 19

Item 3.   Defaults Upon Senior Securities.................................... 19

Item 4.   Submission of Matters to a Vote of Security Holders................ 19

Item 5.   Other Information.................................................. 19

Item 6.   Exhibits and Reports on Form 8-K................................... 19

          Signatures......................................................... 20

<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                                  BALANCE SHEET
                                   (UNAUDITED)
                               AS OF JUNE 30, 2005


                                     ASSETS

Cash                                                               $      1,470
                                                                   ------------
      Total current assets                                                1,470

Property and equipment, net of accumulated depreciation
      of $58,691                                                         10,072
Other assets                                                              1,067
                                                                   ------------
      Total assets                                                 $     12,609
                                                                   ============

                      LIABILITIES AND STOCKHOLDERS' DEFICIT

Accounts payable                                                   $    275,236
Accrued expenses                                                         12,900
Notes payable to related parties                                        606,689
Other payable to related parties                                        118,537
Accrued interest to related parties                                     414,755
Accrued officers and directors compensation                             800,652
                                                                   ------------
      Total current liabilities                                       2,228,769
                                                                   ------------
      Total liabilities                                               2,228,769

Commitments                                                                   -

Stockholders' deficit:
Preferred stock, $.001 par value; 2,000,000 shares authorized;
      none issued and outstanding                                             -
Common stock, $.001 par value; 100,000,000 share authorized;
      99,999,999 issued and outstanding                                 100,000
Additional paid-in-capital                                           17,014,732
Accumulated deficit                                                 (19,198,999)
Stock offering costs                                                   (131,893)
                                                                   ------------
      Total stockholders' deficit                                    (2,216,160)
                                                                   ------------
      Total liabilities and stockholders' deficit                  $     12,609
                                                                   ============


         See accompanying notes to these unaudited financial statements.


                                       1
<PAGE>

<TABLE>
                                                   TECHNOLOGY VISIONS GROUP, INC.
                                                   (A DEVELOPMENT-STAGE COMPANY)
                                                      STATEMENTS OF OPERATIONS
                                                            (UNAUDITED)


                                                                                                                     For the period
                                                                                                                      of Inception,
                                                                                                                     from January 1,
                                              For the Three Month Periods          For the Six Month Periods          1995 through
                                                     Ended June 30,                      Ended June 30,                 June 30,
                                                 2005              2004              2005              2004               2005
                                             ------------      ------------      ------------      ------------       -----------
<S>                                          <C>               <C>               <C>               <C>                <C>
Revenues                                     $          -      $          -      $          -      $          -       $         -

Costs and expenses:
    Research and development                            -                 -                 -                 -           685,507
    General and administrative expenses           109,727            47,470           191,546            95,408         6,747,580
    Directors compensation                         75,000            75,000           150,000           150,000         1,296,000
    Compensatory element of stock options               -                 -             5,660             5,290         2,291,166
    Loss from litigation settlement, net                -                 -                 -                 -           476,350
    Impairment of fixed assets                          -                 -                 -                 -           223,064
    Impairment of patent                                -                 -                 -                 -            55,477
                                             ------------      ------------      ------------      ------------       -----------
Operating loss                                   (184,727)         (122,470)         (347,206)         (250,698)      (11,775,144)

Other income and (expenses):
    Interest income                                    45                12               140                22             1,361
    Gain from reduction in debt                         -                 -            13,196                 -         1,369,384
    Interest expense                              (19,433)          (31,022)          (35,703)          (60,834)       (2,013,026)
    Other income                                        -               165                 -               165           718,419
    Financing costs                                     -                 -                 -                 -          (383,600)
    Debt conversion expense                             -                 -                 -                 -          (155,343)
                                             ------------      ------------      ------------      ------------       -----------
Net loss                                     $   (204,115)     $   (153,315)     $   (369,573)     $   (311,345)      (12,237,949)


Basic and dilutive net loss per share        $      (0.00)     $      (0.00)     $      (0.00)     $      (0.00)
                                             ============      ============      ============      ============

Weighted average number
    of shares outstanding                      99,999,999        65,956,767        99,999,999        65,502,507


                                  See accompanying notes to these unaudited financial statements.


                                                                 2
</TABLE>
<PAGE>

<TABLE>
                                          TECHNOLOGY VISIONS GROUP, INC.
                                           (A DEVELOPMENT-STAGE COMPANY)
                                       STATEMENTS OF CASH FLOWS (UNAUDITED)


                                                                                                    For the period
                                                                                                     of Inception,
                                                                                                    from January 1,
                                                                    For the Six Month Periods        1995 through
                                                                           Ended June 30,              June 30,
                                                                       2005             2004             2005
                                                                  -------------    -------------    -------------
<S>                                                               <C>              <C>              <C>
Cash flows from operating activities:
      Net loss                                                    $    (369,573)   $    (311,345)   $ (12,237,949)
      Adjustments to reconcile net loss to net cash
          Used in operating activities:
      Depreciation and amortization                                       1,974            1,602          161,601
      Amortization of deferred finance costs                                  -                -          851,350
      Gain from reduction of debt                                       (13,196)               -       (1,369,384)
      Common stock issued for services rendered                               -                -          332,120
      Common stock issued for licensing agreement                             -                -           30,000
      Compensatory element of common stock and options                    5,660            5,290        2,291,166
      Impairment of patent                                                    -                -           55,477
      Impairment of fixed assets                                              -                -          223,064
      Write-off shareholder loans                                             -                -         (200,466)
      Loss on litigation settlement                                           -                -          476,350
      Loss on disposal of fixed assets                                        -                -            4,377
      Notes issued in settlement of consulting fees                           -                -          274,250
      Debt conversion expense                                                 -                -          155,343
      Changes in operating assets and liabilities:
          Decrease (increase) in accounts receivable                          -                -                -
          Decrease (increase) in prepaid expenses                        31,638                -           24,471
          (Increase) in deposits                                              -                -              321
          Increase in accounts payable and
              accrued expenses                                          136,342          181,404        4,849,033
          (Decrease) in due to shareholders                                   -                -          (16,234)
                                                                  -------------    -------------    -------------
      Net cash used in operating activities                            (207,155)        (123,049)      (4,095,110)
CASH FLOWS FROM INVESTING ACTIVITIES:
      Purchases of fixed assets                                          (8,248)            (644)        (259,283)
      Costs of licenses and patents                                           -                -          (54,550)
                                                                  -------------    -------------    -------------
      Net cash used in investing activities                              (8,248)            (644)        (313,833)
CASH FLOWS FROM FINANCING ACTIVITIES:
      Proceeds from sale of common stock                                      -           45,000          861,743
      Proceeds from issuance of convertible debenture                         -                -          375,000
      Proceeds from stock purchase agreement                                  -           80,000          110,000
      Payments on debenture notes                                             -                -         (110,000)
      Notes payable, net                                                                   5,000        3,207,259
      Other payable, net                                                118,537                -          118,537
      Deferred finance charges                                                -                -         (175,350)
      Proceeds from exercise of stock options                                 -                -            3,000
      Repayment of notes receivable from stockholders                         -                -            6,360
                                                                  -------------    -------------    -------------
      Net cash provided by (used in) financing activities               118,537          130,000        4,396,549
NET INCREASE (DECREASE) IN CASH                                         (96,866)           6,307          (12,394)
CASH AT BEGINNING OF PERIOD                                              98,336            2,589           13,864
                                                                  -------------    -------------    -------------
CASH AT END OF PERIOD                                             $       1,470    $       8,896    $       1,470
                                                                  =============    =============    =============


                          See accompanying notes to these unaudited financial statements.


                                                         3
</TABLE>
<PAGE>
<TABLE>
                                          TECHNOLOGY VISIONS GROUP, INC.
                                           (A DEVELOPMENT-STAGE COMPANY)
                                       STATEMENTS OF CASH FLOWS - Continued
                                                    (UNAUDITED)


                                                                                                      Inception,
                                                                                                    from January 1,
                                                                    For the Six Month Periods        1995 through
                                                                           Ended June 30,              June 30,
                                                                       2005             2004             2005
                                                                  -------------    -------------    -------------
<S>                                                               <C>              <C>              <C>
SUPPLEMENTAL DISCLOSURES:
Cash paid during the period for:
--------------------------------
       Interest                                                   $         626    $         163    $     120,958
                                                                  =============    =============    =============
       Taxes                                                      $         800    $           -    $       8,276
                                                                  =============    =============    =============

Non-cash Financing Activities:
      Value of shares issued in connection
          with compensatory obligations                           $           -    $           -    $   2,537,522
                                                                  =============    =============    =============
      Value of stock issued for
          conversion of notes payable                             $           -    $           -    $   2,115,903
                                                                  =============    =============    =============
      Accrued interest converted to common stock                  $           -    $           -    $      53,473
                                                                  =============    =============    =============
      Value of shares paid to satisfy accounts payable            $           -    $           -    $     115,730
                                                                  =============    =============    =============
      Assets acquired through a capital lease                     $           -    $           -    $       7,126
                                                                  =============    =============    =============
      Value of shares issued for consulting services              $           -    $           -    $     685,410
                                                                  =============    =============    =============
      Value assigned to stock options issued for services         $       5,660    $       5,290    $     104,356
                                                                  =============    =============    =============
      Value of stock issued for licensing agreement               $           -    $           -    $      30,000
                                                                  =============    =============    =============
      Value of shares issued for settlement
          of convertible promissory  notes                        $           -    $           -    $     534,235
                                                                  =============    =============    =============
      Value of shares issued for settlement of litigation         $           -    $           -    $      51,250
                                                                  =============    =============    =============
      Value of stock issued in exchange for                       $           -    $           -    $      17,294
                                                                  =============    =============    =============
          note receivable
      Value of shares issued to satisfy accrued expenses          $           -    $           -    $      53,500
                                                                  =============    =============    =============
      Value of shares issued as additional
          consideration for loan                                  $           -    $           -    $      42,750
                                                                  =============    =============    =============
      Reduction of notes payable and accrued
          interest due to litigation                              $           -    $           -    $      60,000
                                                                  =============    =============    =============
      Satisfaction of notes receivable in
          exchange for services                                   $           -    $           -    $       8,334
                                                                  =============    =============    =============
      Value of stock issued for stock offering costs              $           -    $           -    $     151,022
                                                                  =============    =============    =============


                          See accompanying notes to these unaudited financial statements.


                                                         4
</TABLE>
<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                            June 30, 2005 (Unaudited)


NOTE 1 - BUSINESS AND CONTINUED OPERATIONS

Technology Visions Group, Inc. (the "Company") was incorporated in the State of
Delaware on April 29, 1985. In March 1995, the management resigned and new
management commenced a new direction of the Company. For financial reporting
purposes, inception is defined as January 1, 1995. Prior to December 22, 2000,
the Company's name was Orbit Technologies, Inc. The Company's business plan
focuses on applied research and development of new and innovative technologies,
engineering ideas, methods, and processes that hold the potential to become
commercially viable products or processes. Once a product or process receives
commercial validation through an outside or third party, it is the Company's
intention to either spin it off as a separate business entity, or license or
sell to an affiliated or unaffiliated entity that, at that time, becomes
responsible for the production, marketing and sales of such products or
services. The Company's technologies are undergoing certain feasibility studies
and/or actual field tests and evaluations in the area of the treatment and
stabilization of buried low-level mixed radioactive waste. To date, the Company
has not commercialized any of its technologies.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Unaudited Interim Financial Statements
--------------------------------------

The interim financial data as of June 30, 2005, and for the six months ended
June 30, 2005 and 2004 are unaudited; however, in the opinion of management, the
interim data includes all adjustments, consisting only of normal recurring
adjustments, necessary to present fairly the Company's financial position as of
June 30, 2004, and the results of its operations for the six months and cash
flows for the six months ended June 30, 2005 and 2004. These results are not
necessarily indicative of the results expected for the year ending December 31,
2005. These financial statements and notes thereto do not reflect all
disclosures necessary for preparation under accounting principles generally
accepted in the United States. Refer to the Company's Annual Report on Form
10-KSB for the year ended December 31, 2004.

Going Concern
-------------

The accompanying financial statements have been prepared in conformity with
accounting principles generally accepted in the United States, which contemplate
continuation of the Company as a going concern. Prior to inception, the Company
had losses accumulating to $6,961,050. The Company, has suffered losses
accumulating to $19,198,999 through June 30, 2005. For the year ended December
31, 2004 and for the six months ended June 30, 2005, the Company incurred net
losses of approximately $758,205 and $369,573, respectively, and as of June 30,
2005, had a stockholders' deficit and a working capital deficit of approximately
$2,216,160 and $2,227,299, respectively. The Company is in arrears with certain
of its payables and accrued liabilities. The Company requires additional funds
to move into the marketing and commercialization of its technologies. No
assurances can be given that the Company can manufacture its technologies on a
large-scale basis or at a feasible cost. Further, no assurance can be given that
any technology will receive market acceptance. The Company's ability to continue
as a going concern is dependent upon obtaining the additional financing,
restructuring and/or curing the defaults on its debt, and the successful
marketing of its technologies. These factors raise substantial doubt about the
Company's ability to continue as a going concern. Management plans to explore
additional sources of working capital including borrowings, sales of securities,
joint ventures and licensing of technologies. In April 2003, the Company entered
into a common stock purchase agreement with Fusion Capital Fund II, LLC ("Fusion
Capital") in an effort to raise working capital (see Note 6). Management intends
to use any funds raised to pursue the marketing and commercialization of its
technologies. Management believes that the Company can raise adequate capital to
keep the Company functioning at a minimum level of operation in the next fiscal
year. Management is exploring ways to reduce its existing liabilities, including
exchanging certain of its liabilities for shares of its common stock. There can
be no assurance that management will be successful in its efforts to raise
capital sufficient to fund its working capital requirements or to convert debts
into common stock during the next twelve months.


                                       5
<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                            June 30, 2005 (Unaudited)


These financial statements do not include any adjustments relating to the
recoverability of recorded asset amounts that might be necessary as a result of
the above uncertainty.

Development-Stage Company
-------------------------

The Company is considered a development-stage company, with no operating
revenues from the license and/or sale of commercially viable technologies during
the periods presented, as defined by Statement of Financial Accounting Standards
("SFAS") No. 7. SFAS No. 7 requires companies to report their operations,
shareholders deficit and cash flows since inception through the date that
revenues are generated from management's intended operations, among other
things. Management has defined inception as January 1, 1995, near the date
management control was obtained. Since inception, the Company has incurred
operating losses totaling approximately $12 million, much of which relates to
stock-based compensation to officers, directors and consultants as a means to
preserve working capital. The Company's working capital has been generated
through the sales of common stock and debt. In addition, significant research
and development costs to develop technologies have been expended since
inception. Management has provided financial data since January 1, 1995
"Inception" in the financial statements, as a means to provide readers of the
Company's financial information to make informed investment decisions.

The Company completed the initial and intermediate testing and evaluation of its
GMENT technology at the Department of Energy ("DOE") Idaho Falls site with the
receipt of Volume II of the "Final Results Report, In Situ Grout Technology for
Application in Buried Transuranic Waste Sites," published in April 2003 by the
Idaho National Engineering and Environmental ("INEEL"). Confirmation of the test
results using surrogate waste is now being done using actual radioactive waste.
Therefore, there have been no expenditures during the six months ended June 30,
2005 and 2004 for research and development. The Company is moving into position
to begin the marketing and commercialization phase of its development.

Use of Estimates
----------------

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

Risks and Uncertainties - Technologies
--------------------------------------

The Company's operations are subject to new innovations in product design and
function. Significant technological changes can have an adverse effect on
product lives. Design and development of new products are important elements to
achieve profitability in this industry segment.

Loss Per Share
--------------

Basic earnings per share ("Basic EPS") is computed by dividing net loss
available to common stockholders by the weighted average number of common shares
outstanding during the period. Diluted earnings per share ("Diluted EPS") gives
effect to all dilutive potential common shares outstanding during a period. In
computing Diluted EPS, the treasury stock method is used in determining the
number of shares assumed to be purchased from the conversion of common stock
equivalents. Securities that could potentially dilute Basic EPS in the future,
that were not included in the computation of Diluted EPS because to do so would
have been anti-dilutive for the periods presented, consist of options, warrants,
convertible notes and debentures.


                                       6
<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                            June 30, 2005 (Unaudited)


The following is a reconciliation of the numerators and denominators of the
basic and diluted earnings per share computations for the six months ended June
30, 2005 and 2004:

                                                     2005             2004
                                                 ------------     ------------
  Basic and diluted net loss per share:
  Numerator:
        Net loss                                 $   (369,573)    $   (311,345)

  Denominator:
        Basic and diluted weighted average
        number of common shares outstanding        99,999,999       65,502,507

                                                 ------------     ------------
  Basic and diluted net loss per share           $      (0.00)    $      (0.00)
                                                 ============     ============

Shareholder Dilution
--------------------

The Company's management has relied on the issuance of its common stock to
provide working capital and provide compensation to officers, directors and
consultants. The trading price of the Company's common stock has declined over
time. If the Company continues to rely on the issuance of common stock to retain
key management and consultants, based on current per-share prices, the existing
shareholders may be significantly diluted in the future.

Incremental Shares
------------------

Securities that could potentially dilute basic earnings per share ("EPS") in the
future that were not included in the computation of diluted EPS because to do so
would have been anti-dilutive as of June 30, 2005 consist of the following:

                                                    Number of Potential
                                                     Additional Common
                                                          Shares
                                                      --------------

Notes payable to related parties                          22,243,969
Options to purchase common stock                             800,000
Accrued officers' and directors' compensation             14,876,429
                                                      --------------
       Total incremental shares at June 30, 2005          37,920,398
                                                      ==============

Equipment and Fixtures
----------------------

Equipment and fixtures are recorded at cost. Depreciation is provided using
accelerated and straight-line methods over the estimated useful lives of the
related assets as follows:

                    Description                        Years
                    -----------                        -----

           Furniture and fixtures                        7
           Computer hardware and software               3-5


                                       7
<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                            June 30, 2005 (Unaudited)


Recent Accounting Pronouncements
--------------------------------

In May 2005, the FASB issued SFAS No. 154, "Accounting Changes and Error
Corrections." This statement applies to all voluntary changes in accounting
principle and requires retrospective application to prior periods'financial
statements of changes in accounting principle, unless this would be
impracticable. This statement also makes a distinction between "retrospective
application" of an accounting principle and the "restatement" of financial
statements to reflect the correction of an error. This statement is effective
for accounting changes and corrections of errors made in fiscal years beginning
after December 15, 2005. We are evaluating the effect the adoption of this
interpretation will have on its financial position, cash flows and results of
operations.

In December 2004, the FASB issued FASB Statement No. 123R, "Share-Based Payment,
an Amendment of FASB Statement No. 123" ("FAS No. 123R"). FAS No. 123R requires
companies to recognize in the statement of operations the grant- date fair value
of stock options and other equity-based compensation issued to employees. FAS
No. 123R is effective beginning in the Company's second quarter of fiscal 2006.
The Company is evaluating the effects adoption of SFAS 123R will have on its
financial statements.

Stock Based Compensation
------------------------

The Company has elected to follow Accounting Principles Board Opinion No. 25,
Accounting for Stock Issued to Employees ("APB 25"), and related interpretations
in accounting for its employee stock options because the alternative fair value
accounting provided under FASB Statement No. 123, Accounting for Stock-Based
Compensation, ("SFAS 123") requires the use of option valuation models that were
not developed for use in valuing employee stock options. As permitted, the
Company adopted the disclosure alternative of SFAS 123 and SFAS 148, which
require pro forma disclosure of net income and earnings per share as if the fair
value method of accounting had been applied. Since the Company has no
significant stock options outstanding, the pro forma financial data is not
meaningful.

Under APB 25, when the exercise price of the Company's stock options equals or
exceeds the fair value of the underlying stock on the date of grant, no
compensation expense is recorded.

During the six months ended June 30, 2005 and 2004, the Company issued two of
the officer's options for a total of 200,000 shares of the Company's common
stock as part of their employment agreements. The Company recorded an expense of
$5,660 and $4,940 for these options.

In compliance with FAS No. 148, the Company has elected to continue to follow
the intrinsic value method in accounting for its stock-based employee
compensation plan as defined by APB No. 25 and has made the applicable
disclosures below.

Had the Company determined employee stock based compensation cost based on a
fair value model at the grant date for its stock options under SFAS 123, the
Company's net earnings per share would have been adjusted to the pro forma
amounts for six months ended June 30, 2005 and 2004 as follows:


                                       8
<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                            June 30, 2005 (Unaudited)


                                                        2005            2004
                                                    -----------     -----------
Net loss - as reported                              $  (369,573)    $  (311,345)
Stock-based employee compensation expense,
     included in reported net loss, net of tax            5,660           4,940

Total stock-based employee compensation
     expense determined under fair-value-based
     method for all rewards, net of tax                  (8,800)         (8,200)

                                                    -----------     -----------
Pro forma net loss                                  $  (372,713)    $  (314,605)
                                                    ===========     ===========

Earnings per share:
     Basic and diluted, as reported                       (0.00)          (0.00)
     Basic and diluted, pro forma                         (0.00)          (0.00)


NOTE 3 - NOTES PAYABLE TO RELATED PARTIES

Notes payable to related parties consist of the following at June 30, 2005:

                                                        Principal     Accrued
            Notes                    Interest Rate       Balance      Interest
-------------------------------------------------------------------------------

Current Portion:
     Shareholders                      10% - 12%     $    279,250  $    272,200
     Officers                           8% - 10%          327,439       142,554

                                                     ------------  ------------
Total notes payable to related parties               $    606,689  $    414,754
                                                     ============  ============


Shareholders:
-------------

At March 31, 2004, the Company had an outstanding loan from a shareholder in the
amount of $25,000. The note bears an interest rate of 10% per annum and was due
on November 5, 1999. The noteholder has the right to convert the unpaid
principal and/or accrued interest at the price per share discounted by 20% of
the average bid and ask price five days prior to the date of conversion. In
November 2004, the principle of this note was converted into 408,163 shares of
the Company's common stock. Accrued interest at June 30, 2005 was $14,062

On May 27, 1997, the Company entered into an installment loan agreement with an
individual shareholder to borrow $300,000. As of December 31, 1998, the
shareholder had advanced the Company $299,500 against the $300,000 loan
agreement. The installment loan bears interest at 12% per annum and was due on
May 27, 1999. The loan agreement provides for semi- annual interest payments of
$17,920. The installment note is collateralized by the Company's rights, titles
and patents, of the Company's technology known as "Polymer Encapsulation
Technology." In November 2004, $20,250 of the principle of this note was
converted into 330,612 shares of the Company's common stock. The balance at June
30, 2005 was $279,250. Accrued interest at June 30, 2005 was $256,637. As the
Company is in default on the note, it has been classified as a current note
payable.

In March 2003, the Company entered into a new agreement with a shareholder
whereby the shareholder loaned the Company $10,000. The shareholder has the
right to convert the unpaid principal and/or accrued interest at the price per
share discounted by 20% of the average bid and ask price during the five day
period prior to the date of conversion. This note matured on July 21, 2003. In
November 2004, the principle of this note was converted into 163,265 shares of
the Company's common stock. Accrued interest at June 30, 2005 was $1,500.


                                       9
<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                            June 30, 2005 (Unaudited)


Long-term - Officers:
---------------------

At December 31, 2001, the two officers had loans outstanding totaling $112,341
to the Company. Each note bears interest of 10% per annum and is due one year
from the issuance date. The notes principal and accrued interest are convertible
into common stock at prices ranging from $0.13 to $0.32 per share. During the
fiscal year ended December 31, 2004, $5,000 was paid on one of these notes. At
June 30, 2005, the total balance owing was $327,439 and the accrued interest was
$142,554.

During the year ended December 31, 2002, the officers loaned an additional
$65,000 in cash to the Company at 8% per annum. The officers have the right to
convert the unpaid principal and/or accrued interest at the price per share
discounted by 20% of the average bid and ask price five days prior to the date
of conversion. These notes matured on August 27, 2003. In addition, on June 10,
2002 one of the officers transferred 200,000 shares of the Company's common
stock privately owned by them to pay the retainer for legal fees. At the date of
the transfer the shares had a market value of $0.08 per share or $16,000. When
the attorney sold the shares and reduced his bill, the shares were sold at less
than the value previously recorded. The officer's loans were reduced accordingly
by $2,256 to a net loan value of $13,744.

During the year ended December 31, 2003, the Company entered into seven new
agreements with the officers, whereby the officers loaned a total of $88,000 to
the Company at 8% per annum. In addition, the officers have the right to convert
the unpaid principal and/or accrued interest at the price per share discounted
by 20% of the average bid and ask price during the five day period prior to the
date of conversion. These notes matured between March 11, 2004 and June 23,
2004.

On February 21, 2003, two of the officers transferred a total of 135,667 shares
of the Company's common stock privately owned by them to pay the retainer for
legal fees. At the date of the transfer the shares had a market value of $0.11
per share or $14,923. On May 15, 2003, one of the officers transferred 300,000
shares of the Company's common stock privately owned by them to pay the retainer
for legal fees. At the date of the transfer the shares had a market value of
$0.145 per share or $43,500. These amounts were recorded as an additional loan
made by the officers and applied to prepaid expenses. When the attorney sold the
shares and reduced his bill, the shares were sold at less than the value
previously recorded. The officer's loans were reduced accordingly by $33,812 to
a net loan value of $24,611. On June 2, 2003, an officer transferred 100,000
shares of the Company's common stock privately owned by him to pay consulting
fees to a non-related third-party. At the date of the transfer the shares had a
market value of $0.15 per share or $15,000. On July 29, 2003, one of the
officers transferred 300,000 shares of the Company's common stock privately
owned by them to pay the retainer for legal fees. At the date of the transfer
the shares had a market value of $0.11 per share or $33,000. These amounts were
recorded as an additional loan made by the officers and applied to prepaid
expenses. When the attorney sold the shares and reduced his bill, the shares
were sold at less than the value previously recorded. The officer's loans were
reduced accordingly by $20,157 to a net loan value of $12,843. On December 16,
2003, an officer transferred 10,000 shares of the Company's common stock
privately owned by him to pay consulting fees to a non-related third-party. At
the date of the transfer the shares had a market value of $0.09 per share or
$900. The officers have the right to convert the unpaid principal and/or accrued
interest at the price per share discounted by 20% of the average bid and ask
price five days prior to the date of conversion. These notes matured between
February 21, 2004 and December 16, 2004.

During 2000, the officers entered into a standstill agreement with the Company
in which they agreed to forebear any collection of the debts for a period of one
year. The agreements with the officers have been extended to January 1, 2005.
The officers shall be issued shares in lieu of the debt after merger with
Sutura.


                                       10
<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                            June 30, 2005 (Unaudited)


Other Payable - Sutura:
-----------------------

During the quarter ended June 30, 2005, certain expenses of the Company were
paid by Sutura, Inc. ("Sutura") in anticipation of the merger closing (see Note
8). The total amount paid was $118,537 and has been classified as other payable
- related party in the accompanying financial statements. There is no interest
due on the amount due.

NOTE 4 - COMMITMENTS AND CONTINGENCIES

Employment and Consulting Agreements
------------------------------------

On January 1, 2002, the Company entered into two employment agreements with its
current officers. The agreements provide for annual salaries aggregating to
$300,000, expire January 1, 2004, and provide for automatic annual renewals. On
January 1, 2005, the agreements were renewed for another year. In addition to
the salaries, the agreements grant each officer 100,000 non-qualified stock
options per year. The stock options are to purchase shares of the Company's
common stock at an exercise price of $0.05 per share, vest immediately, and
expire in five years. A total of 200,000 option shares were granted to the
officers during the quarter ended March 31, 2005 and 2004 and $5,660 and $4,940
was recorded as additional compensation based on the difference between the
market price and the exercise price at the date of grant.

For the six month periods ended June 30, 2005 and 2004, the expense recorded
under the agreements amounted to $150,000. In April 2002, the Board of Directors
approved accruing interest on all unpaid salary beginning with salaries accrued
in the year ending December 31, 2001, at 8% per annum and going forward. During
the fiscal year ended December 31, 2004, $1,618,123 of accrued compensation was
converted into 25,246,614 shares of the Company's common stock. Accrued
officer's compensation unpaid at June 30, 2005 totaled $627,601, and accrued
interest totaled $173,048. For the six month periods ended June 30, 2005 and
2004, interest expense was $20,906 and $26,815 respectively. The accrued
compensation is convertible into common stock discounted 10% at $0.32 per share
for compensation earned through 2000, and at $0.05, $0.12, and $0.07 per share
in 2001, 2002 and 2003, respectively. During 2002, the officers entered into a
standstill agreement with the Company in which they agreed to forebear any
collection of this debt through January 1, 2005. The officers shall be issued
shares in lieu of the debt after merger with Sutura.

Consulting Agreement
--------------------

In August 2004, the Company engaged Longenecker & Associates (L&A) to provide
consulting services and advice to the Company on the introduction of its
products to DOE and other government and commercial markets. The agreement calls
for the Company to pay consultants $5,000 per quarter plus a 2% commission on
the gross amount of any sales made by or as a result of contacts made by L&A.
During the six months ended June 30, 2005 the Company paid $10,000 to L&A for
their services.

Settlement Agreement Subject to Contingency
-------------------------------------------

In December 2004, the Company entered into a settlement agreement with a
shareholder whom the Company owes $279,250 in loans and $272,200 in accrued
interest (See Note 5) whereby the parties agreed to satisfy the debt in full
with the issuance of an additional 7,710,770 shares of the Company's common
stock valued at $570,597. The settlement and the issuance of the stock is
contingent upon the successful completion of the merger with Sutura, Inc. (See
Note 8). If the shares are issued, the Company will record a loss on the
settlement of $19,146.


                                       11
<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                            June 30, 2005 (Unaudited)


NOTE 5 - STOCKHOLDERS' DEFICIT

Common Stock Transactions During the Six Months Ended June 30, 2004
-------------------------------------------------------------------

In January 2004, the Company granted both officers an option to purchase 100,000
shares of the Company's common stock at an exercise price of $0.05 per share, as
part of their employment agreement. These options were valued at $4,940 and were
charged to officer's compensation during the six month period ended June 30,,
2004.

During the six month period ended June 30,, 2004, the Company issued 1,116,016
shares of its common stock to Fusion Capital under the Stock Purchase Agreement
(see Note 6) for proceeds of $80,000 ranging from $0.064 to $0.093 per share.
The shares were issued under the Company's SB-2 registration that became
effective on July 16, 2003.

In April 2004, the Company issued 1,000,000 shares of the Company's common stock
for $45,000 or $0.045 per share in a private placement intended to be exempt
from registration under section 4(2) and or Regulation D of the Securities Act
of 1933. Shares are generally sold at a 20% discount to closing prices based on
an average prior to the sale.

Common Stock Transactions During the Six Months Ended June 30, 2005
-------------------------------------------------------------------

In January 2005, the Company granted both officers an option to purchase 100,000
shares of the Company's common stock at an exercise price of $0.05 per share, as
part of their employment agreement. These options were valued at $5,660 and were
charged to officer's compensation during the six month period ended June 30,
2005.

Stock Issuance Costs
--------------------

The Company capitalizes direct and incremental costs associated with raising
cash from the issuance of equity capital, and such costs will be reported as a
reduction to the proceeds received in the event the offering is successful. In
the event the stock offering is unsuccessful, such costs will be expensed at the
time known to management. Stock issuance costs are reported as a reduction of
stockholders' deficit in the accompanying financial statements at June 30, 2005.
During the six months ended June 30, 2005 and 2004, $0 and $4,037 was amortized
due to the purchase of stock under the stock purchase agreement (See Note 6).
The balance at June 30, 2005 was $131,892.

Non-Qualified Stock Option Plan
-------------------------------

From time to time, the Company issues non-qualified stock options. These options
are generally granted to consultants for past services and are granted to
noteholders in connection with financing agreements.

In 2000, the Company entered into a consulting agreement with an attorney. Under
the terms of the agreement, the Company is to grant the attorney an option to
purchase 50,000 common shares every six months in July and January. The options
have an exercise price of 125% of the market price on the day of the grant and
expire three years from the date of the grant. During the six month period ended
June 30, 2004, the Company granted the attorney the option to purchase 50,000
shares of the Company's common stock. The Company valued these options using the
fair value method and recorded legal expense of $350 based on the Black-Scholes
option pricing model with the following assumptions:

            Risk-free interest rate                      3.25%
            Expected life                                3 years
            Expected volatility                          15%
            Dividend yield                               0%

In November 2004, the agreement with the attorney was terminated and all
outstanding options were cancelled.


                                       12
<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                            June 30, 2005 (Unaudited)


NOTE 6 - FUSION CAPITAL TRANSACTION

On April 22, 2003, the Company entered into a common stock purchase agreement
with Fusion Capital pursuant to which Fusion Capital agreed to purchase on each
trading day during the term of the agreement $10,000 of the Company's common
stock up to an aggregate of $6.0 million. The $6.0 million of common stock is to
be purchased over a 30-month period, subject to a six-month extension or earlier
termination at the Company's discretion. The purchase price of the shares of
common stock will be equal to a price based upon the future market price of the
common stock without any fixed discount to the market price. Fusion Capital does
not have the right or the obligation to purchase shares of the Company's common
stock in the event that the price of its common stock is less than $0.05 per
share.

The Company has authorized the sale and issuance of 20,000,000 shares of its
common stock to Fusion Capital under the common stock purchase agreement. The
Company filed a registration statement on Form SB-2 to register the underlying
securities on May 15, 2003. The registration statement became effective on July
16, 2003.

Under the terms of the common stock purchase agreement, Fusion Capital received
1,678,022 shares of the Company's common stock as a commitment fee, valued at
$151,022. The value of these shares has been recorded as stock offering fees. In
addition, at such time as Fusion Capital has purchased $3,000,000 of the
Company's common stock under the common stock purchase agreement, the Company
will issue to Fusion Capital an additional 1,978,022 shares of common stock as
an additional commitment fee. This commitment fee will be recorded when the
contingencies are removed and the fee is earned. Unless an event of default
occurs, these shares must be held by Fusion Capital until 30 months from the
date of the common stock purchase agreement or the date the common stock
purchase agreement is terminated. Under the common stock purchase agreement, on
each trading day Fusion Capital is obligated to purchase a specified dollar
amount of the Company's common stock. Subject to the Company's right to suspend
these purchases at any time, and its right to terminate the agreement with
Fusion Capital at any time Fusion Capital shall purchase on each trading day
during the term of the agreement $10,000 of the Company's common stock. The
Company may decrease this daily purchase amount at any time. The Company also
has the right to increase the daily purchase amount at any time; provided
however, it may not increase the daily purchase amount above $10,000 unless its
stock price is above $.30 per share for five consecutive trading days.

In September and October 2003, Fusion Capital purchased 371,438 shares of the
Company's common stock for $20,000 as part of this agreement. In addition,
Fusion loaned the Company $30,000 during the year ended December 31, 2003
against future purchases of shares under the Stock Purchase Agreement.

During the year ended December 31, 2004, Fusion Capital purchased 5,312,094
shares of the Company's common stock for $290,000 as part of this agreement. In
addition, Fusion loaned the Company $40,000 during the year ended December 31,
2004 against future purchases of shares under the Stock Purchase Agreement for a
total amount loaned of $70,000. In November 2004, Fusion was issued 1,400,000
shares of the Company's common stock against the amounts loaned. As of June 30,
2005, there was no loans outstanding against future purchases of shares under
this agreement.

As of June 30, 2005, a total of 7,083,532 shares have been purchased for a total
of $380,000 under this agreement.

NOTE 7 - GAIN FROM SETTLEMENT OF DEBT

In January 2005, the Company entered into a settlement agreement with a vendor
whereby the vendor agreed to accept $5,000 as full payment on the invoices
outstanding, amounting $18,196. As a result, the Company recorded a gain on
settlement of debt of $13,196.


                                       13
<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                            June 30, 2005 (Unaudited)

NOTE 8 - PROPOSED MERGER WITH SUTURA, INC.

On December 29, 2004, the majority of the stockholders of the Company ("TVGR")
approved the proposed merger of the Company with Sutura, Inc., ("Sutura") a
Delaware corporation. In connection with the merger:

     o A twelve-for-1 reverse stock split will occur;

     o Substantially all of the debt held by the officers of the Company will
either be discharged or converted into no more than approximately 39,000,000
shares of the Company's common stock immediately prior to the merger becoming
effective (before taking into account the reverse stock split) assuming the
merger is consummated on or before September 30, 2005;

     o Each outstanding share of common stock of Sutura will be cancelled and
converted into the right to receive approximately 20.0863 shares of common stock
of TVGR, which will result in substantial dilution to the stockholders of TVGR
so that they will own only approximately 5% of the outstanding common stock of
TVGR in the aggregate;

     o Each outstanding option, warrant or right to purchase a share of common
stock of Sutura will automatically be converted into an option, warrant or right
to purchase approximately 20.0863 shares of common stock of TVGR;

     o All of the outstanding preferred stock of TVGR will be converted into
shares of common stock of TVGR immediately prior to the merger;

     o The business conducted by TVGR prior to the merger will continue to be
conducted as a separate line of business and the business of Sutura will be
conducted as the primary business of TVGR following the merger;

     o TVGR's name will be changed to "Sutura, Inc." upon consummation of the
merger;

     o Members of the management of Sutura will become directors and officers of
TVGR, together with two of the company's existing officers and one director; and

     o Current TVGR management will receive no cash or equity consideration as a
result of the merger; however TVGR's Chief Executive Officer and TVGR's Chief
Operating Officer will enter into new employment agreements after the merger,
and certain indebtedness owing to them will be converted into common stock.

The merger will result in a change of control of TVGR and the existing
shareholders of TVGR will own 5% of the outstanding shares of common stock of
TVGR immediately following the merger. As a result of the change of control, the
current employment agreement between Mr. James B. Lahey, TVGR's Chief Executive
Officer, and TVGR will terminate; the current employment agreement between
Mr.James A. Giansiracusa, TVGR's Chief Operating Officer, and TVGR will
terminate; TVGR's financing agreement with Fusion Capital Partners LLC will
terminate; and TVGR's facility lease will terminate, unless assumed by Sutura as
part of the merger.

In addition, the notes payable to a shareholder will be converted into 7,710,770
shares of common stock as part of the settlement agreement which is contingent
upon the successful completion of the merger (see Note 4).

The closing date of the merger is anticipated to by the end of the third quarter
2005; however there are no assurances that the merger will be completed as
scheduled. The merger will be accounted for as a reverse merger acquisition of
TVGR by Sutura and will result in a recapitalization of Sutura under purchase
accounting.


                                       14
<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                            June 30, 2005 (Unaudited)


ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS

The following discussion is intended to assist in an understanding of the
Company's financial position and results of operations for six months ended June
30, 2005.

Forward-Looking Information.

This report contains certain forward-looking statements and information relating
to the Company that is 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 the Company or its
management, are intended to identify forward-looking statements. These
statements reflect management's current view of the Company with respect to
future events and are subject to certain risks, uncertainties and assumptions.
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. The Company's
realization of its business aims could be materially and adversely affected by
any technical or other problems in, or difficulties with, planned funding and
technologies, third party technologies which render the Company's technologies
obsolete, the unavailability of required third party technology licenses on
commercially reasonable terms, the loss of key research and development
personnel, the inability or failure to recruit and retain qualified research and
development personnel, or the adoption of technology standards which are
different from technologies around which the Company's business ultimately is
built. The Company does not intend to update these forward-looking statements.

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

Since 1996, Technology Visions has focused on the development and use of its
polymer-based Polymer Encapsulation Technology ("PET") System as a method for
stabilizing and encapsulating various radioactive and toxic waste materials
leading to a final waste form for disposal. During the past few years,
Technology Visions has introduced GMENT, a specialized grout treatment and
stabilization technology as a method for subsurface waste stabilization.

To commercialize the PET technology and obtain governmental approval for its
use, Technology Visions must complete the additional testing recommended in this
report. Funding for the completion of this work is estimated by the company at
$250,000. It is also estimated that once funding becomes available to begin this
work, it will require 12 to 18 months to complete. Once completed, Technology
Visions intends to market this product for use by the DOE or other applications
where the benefits of PET can be utilized.

Currently, Technology Visions is focused on developing GMENT. GMENT is licensed
exclusively to Technology Visions and is a trademark of Advanced Grout Systems.
GMENT is a cementitous grout that contains proprietary materials, which not only
stabilize certain wastes but also treat specific hazardous elements within the
waste. It has been developed for use in the containment of buried mixed
low-level radioactive mixed waste.

In January 2002, Technology Visions entered into an exclusive Trademark License
and Technology Licensing Agreement with Advanced Grout Systems, Ltd. Terms of
the license allow Technology Visions to manufacture, distribute, market and sell
the product in exchange for a royalty based upon sales volume. The royalty
begins at 10% for gross sales up to $1 million, then declines to 9% for sales of
$1 million to $5 million, 8% for sales of $5 million to $10 million, 7% for
sales of $10 million to $25 million, and 6% for sales exceeding $25 million.
This license expires November 30, 2026. The territorial rights granted to
Technology Visions under the license include the United States of America and
any other countries of the world. Also, as part of the exclusive license,
Technology Visions is granted first right of refusal for any additional
trademark or non-trademark products developed by Advanced Grout Systems, Ltd.
dealing with environmental remediation or waste management technologies.


                                       15
<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                            June 30, 2005 (Unaudited)


In June 2000, Bechtel awarded Technology Visions a contract to manage the
testing and evaluation of in-situ grout candidate materials that were being
considered by INEEL and Bechtel for the treatment of certain subsurface waste
sites at the DOE site in Idaho Falls, Idaho. The contract was a two-year,
three-phase Treatability Study conducted by INEEL and Bechtel. Testing included
Phase I Bench Testing, Phase II Field Implementability Testing, and Phase III
Full-Scale Field Testing.

Phase I Bench Testing included rigorous laboratory testing protocol designed for
choosing three grouts from six candidate grouts for use in Phase II Field
Implementability testing. Data was also gathered during the bench-testing phase
to support final monolith durability estimates and transportion modeling
efforts. Following the laboratory testing, GMENT was chosen as one of three
candidate grout materials to continue to the Phase II Field Implementability
Testing of the Treatability Study.

In April 2001, the Phase II Field Implementability Testing of the contract was
conducted by Applied Geotechnical Engineering and Construction Company, Inc.
("AGEC") at a site located near Richland, Washington. Upon successful completion
of this test phase, GMENT was chosen as the sole grout material selected to be
used in the Phase III Full Scale Cold Test Pit Demonstration Project that was
conducted in October 2001 at the DOE site in Idaho Falls, Idaho. GMENT was
selected based on such factors as basic costs, ease of mixing and cleaning of
the grout, minimized grout returns in creating a triplex column, and formation
of the solid monoliths. Technology Visions, under the exclusive Trademark
License and Technology Licensing Agreement with Advanced Grout Systems, Ltd.,
provided 95 tons of GMENT grouting material for Phase III. Site grouting was
performed by AGEC. Testing results met all criteria established by state and
federal regulatory agencies.

At the conclusion of Phase III, AGEC prepared and submitted to Bechtel a report
estimating the quantity of GMENT grout material to treat the areas under
consideration to be approximately 24 million gallons. If the recommendation
receives approval via a Record of Decision or other authorization after review
by federal and state authorities, Technology Visions could anticipate initiation
of the project and revenues within 12 to 18 months.

The final report prepared for the DOE, Assistant Secretary for Environmental
Management, Volume I, "Final Results Report, In-Situ Grouting Technology for
Application in Buried Transuranic Waste Sites" was published in September 2002,
by INEEL. Volume I summarized the technology and presents results of a two-year,
three-phase treatability study conducted by the INEEL. Volume II was published
in April 2003 and contains the results of analytical calculations on the
long-term durability of monoliths created by in-situ grouting and on the
long-term performance of a treated buried waste site. Significant achievements
outlined in Volume 1 of the final report on GMENT:

     o    GMENT met or exceeded all of the data quality objectives for the
          Bench, Implementability, and Full Scale Demonstration Evaluation
          phases.
     o    GMENT confirmed excellent retention of constituent elements and tracer
          materials during ANS 16.1 leach testing.
     o    GMENT demonstrated a strong tolerance to interferences commonly
          occurring within the buried waste including organic sludge (up to 9
          wt% tolerance), soil (up to 50 wt% tolerance), and nitrate salts (up
          to 12 wt% tolerance).
     o    GMENT significantly retards the flow of VOC's for possibly hundreds of
          years. Bench studies of VOC retention show there is only a few
          hundredths of a percent of source term lost per 10-day interval in
          special microencapsulation testing involving cured mixtures of neat
          grout and 9-wt% organic sludge for GMENT. This suggests flow rates may
          be on the order of natural disintegration of the compounds in nature.
     o    GMENT would conservatively provide mechanical stability and chemical
          buffering for thousands of years and easily meet a 1,000 year
          durability goal.


                                       16
<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                            June 30, 2005 (Unaudited)


Technology Visions believes that the approval of the GMENT material for the
treatment and stabilization of buried low-level mixed waste in certain areas of
the Subsurface Disposal Area (SDA) at the DOE site in Idaho Falls, Idaho, could
provide initial and significant revenues for the Company. With the acceptance
and approval of GMENT in Idaho, Technology Visions would aggressively pursue
other waste sites identified in the United States with similar waste problems.
Initial contacts have been made at two other DOE sites, based on the initial
information disclosed in Volume I of the Idaho report, where GMET may have end
use application.

In addition to its focus specifically on GMENT applications and the PET
Technology, Technology Visions will continue to search out and acquire
technologies or obtain licenses to use technologies that have multiple market
applications in line with the Company's core expertise and know-how.

As with the development of any new technology, until a commercial product has
been developed, purchased and utilized by a third party, the efficacy of the
product is in question. But Technology Visions believes that based on the
developments to date, the company should anticipate a commercial product in the
next 12 to 18 months after Volume II from the subject project is received and
final government approval is received. However, Technology Visions' ability to
market existing technologies and to acquire new technologies may ultimately be
limited by its lack of financial resources.

Until completion of the final development of a technology and the commencement
of sales, Technology Visions will have minimal or no operating revenues but will
continue to incur substantial expenses. Technology Visions may not be able to
complete development of any technology or if completed, manufacture the
technology on a large-scale basis or at a feasible cost. Further, its
technologies may not receive market acceptance. Being a development stage
entity, Technology Visions is subject to all the risks inherent in the
establishment of a new enterprise and the marketing and manufacturing of a new
product, many of which risks are beyond the control of Technology Visions.

Technology Visions' business model is to obtain long-term supply contracts for
its products with private-company general contractors or other affiliates which
have master contracts with selected waste sites. Revenues, if any, will be
recorded when a contract is effected, the products are delivered, and
collectibility of the receivable is reasonably assured. Technology Visions does
not intend to manufacture its products. We have identified possible outsource
manufacturers with the capability and capacity to produce our products. We
believe that our margins will be between 12% and 15% of revenues, using
outsource manufacturers. The DOE site in Idaho Falls, Idaho, has 14 acres of
low-level solid waste which may be treated by our GMENT product. The estimated
revenue potential for the Idaho site is for 2.4 million gallons, per year, for
ten (10) years or approximately $70 million. Technology Visions has identified
other sites in the United States containing wastes that potentially may be
treated with GMENT; however, current emphasis is on the Idaho Falls site. There
are no assurances that Technology Visions will be selected as a provider of
specialty grout GMENT for the Idaho DOE site project.

With the receipt of Volume II of the "Final Results Report, In Situ Grout
Technology for Application in Buried Transuranic Waste Sites," published in
April 2003 by INEEL, we believe we have completed all the initial and
intermediate testing and evaluation of its GMENT technology at the Idaho Falls
site. Technology Visions is currently moving into position to begin the
marketing and commercialization phase of its development.

Bechtel recently issued an Engineering Design File (EDF) entitled, Grout
Selection Criteria and Recommendation for the Operable Unit 7-13/14 In Situ
Grouting Project dated December 2004. The EDF indicates that this project would
not be going forward as planned until additional studies were completed
requiring a Risk Assessment based on revised inventory and containment mobility
data at the site. The time to complete this additional modeling is not known at
this time.

On September 30, 2003, the Company engaged The Janis Group ("Janis") to provide
consulting and advisory services to assist with the implementation of the
Company's business plan, specifically, to work with the Company to further its
efforts in the commercialization of its proprietary waste management products.

Critical Accounting Policies
----------------------------

Our financial statements and related public financial information are based on
the application of accounting principles generally accepted in the United States
("GAAP"). GAAP requires the use of estimates; assumptions, judgments and


                                       17
<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                            June 30, 2005 (Unaudited)


subjective interpretations of accounting principles that have an impact on the
assets, liabilities, and expense amounts reported. These estimates can also
affect supplemental information contained in the external disclosures of the
Company including information regarding contingencies, risk and financial
condition. We believe our use of estimates and underlying accounting assumptions
adhere to GAAP and are consistently and conservatively applied. Valuations based
on estimates are reviewed for reasonableness and conservatism on a consistent
basis throughout the Company. Primary areas where our financial information is
subject to the use of estimates, assumptions and the application of judgment
include our evaluation of impairments of intangible assets, and the
recoverability of deferred tax assets, which must be assessed as to whether
these assets are likely to be recovered by us through future operations. We base
our estimates on historical experience and on various other assumptions that we
believe to be reasonable under the circumstances. Actual results may differ
materially from these estimates under different assumptions or conditions. We
continue to monitor significant estimates made during the preparation of our
financial statements.

Valuation Of Long-Lived And Intangible Assets
---------------------------------------------

The recoverability of these assets requires considerable judgment and is
evaluated on an annual basis or more frequently if events or circumstances
indicate that the assets may be impaired. As it relates to definite life
intangible assets, we apply the impairment rules as required by SFAS No. 121,
"Accounting for the Impairment of Long-Lived Assets and Assets to Be Disposed
Of" which requires significant judgment and assumptions related to the expected
future cash flows attributable to the intangible asset. The impact of modifying
any of these assumptions can have a significant impact on the estimate of fair
value and, thus, the recoverability of the asset.

Income Taxes
------------

We recognize deferred tax assets and liabilities based on the differences
between the financial statement carrying amounts and the tax bases of assets and
liabilities. We regularly review our deferred tax assets for recoverability and
establish a valuation allowance based upon historical losses, projected future
taxable income and the expected timing of the reversals of existing temporary
differences. During 2004, we estimated the allowance on net deferred tax assets
to be one-hundred percent of the net deferred tax assets.

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

Quarter Ended June 30, 2005 Compared to Quarter Ended June 30, 2004
-------------------------------------------------------------------

Technology Visions has not had any revenues since inception (January 1, 1995)
through March 31, 2005. Accordingly, Technology Visions has, and continues to
be, a development-stage company. With any development-stage company of this
nature, there are inherent risks, which may prohibit Technology Visions from
reaching commercial viability. As with the development of any new technology,
until a commercial product has been developed, purchased, and utilized by a
third party, the efficacy of the product is in question and Technology Visions
will continue to incur losses. Until completion of the final development of a
technology and the commencement of sales, we will have no operating revenues but
will continue to incur substantial expenses.

Research and development costs were $0, for the quarters ended June 30, 2005 and
2004. No research projects were underway during the current quarter. Volume II
of the "Final Results Report, In Situ Grout Technology for Application in Buried
Transuranic Waste Sites," was published in April 2003 by INEEL. Once we received
this report, it was determined that all the initial and intermediate testing and
evaluation of its GMENT technology at the Idaho Falls site had been completed.
Confirmation of the test results using surrogate waste is now being confirmed
substituting actual radioactive waste. Therefore, there have been no
expenditures during the three months ended June 30, 2005 and 2004 for research
and development. From inception, research and development costs were $685,507.
These costs have been recorded as net of reimbursements from subcontractors.


                                       18
<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                            June 30, 2005 (Unaudited)


General and administrative expenses were $184,727 in the current quarter
compared to $122,470 in the comparable period last year. The increase is mainly
due to an increase in consulting fees and legal fees from the proposed merger.
Included in these amounts are salaries accrued for two officers in the amount of
$75,000 for both periods, under the terms of their employment contracts. From
inception, general and administrative expenses were $8,043,580 and the
compensatory element of stock and stock options was $2,291,166.

As with the development of any new technology, until a commercial product has
been developed, purchased, and utilized by a third party, the efficacy of the
product is in question and Technology Visions will continue to incur losses.
Until completion of the final development of a technology and the commencement
of sales, Technology Visions will have no operating revenues but will continue
to incur substantial expenses.

Six Months Ended June 30, 2005 Compared to Six Months Ended June 30, 2004
-------------------------------------------------------------------------

Technology Visions has not had any revenues since inception (January 1, 1995)
through June 30, 2005. Accordingly, Technology Visions has, and continues to be,
a development-stage company. With any development-stage company of this nature,
there are inherent risks, which may prohibit Technology Visions from reaching
commercial viability. As with the development of any new technology, until a
commercial product has been developed, purchased, and utilized by a third party,
the efficacy of the product is in question and Technology Visions will continue
to incur losses. Until completion of the final development of a technology and
the commencement of sales, we will have no operating revenues but will continue
to incur substantial expenses.

Research and development costs were $0, for the six months ended June 30, 2005
and 2004. No research projects were underway during the current quarter. Volume
II of the "Final Results Report, In Situ Grout Technology for Application in
Buried Transuranic Waste Sites," was published in April 2003 by INEEL. Once we
received this report, it was determined that all the initial and intermediate
testing and evaluation of its GMENT technology at the Idaho Falls site had been
completed. Confirmation of the test results using surrogate waste is now being
confirmed substituting actual radioactive waste. Therefore, there have been no
expenditures during the six months ended June 30, 2005 and 2004 for research and
development. From inception, research and development costs were $685,507. These
costs have been recorded as net of reimbursements from subcontractors.

General and administrative expenses were $347,206 for the six months ended June
30, 2005 compared to $250,698 in the comparable period last year. The increase
is mainly due to an increase in consulting fees and legal fees from the proposed
merger. Included in these amounts are salaries accrued for two officers in the
amount of $150,000 for both periods, under the terms of their employment
contracts. The expense for compensatory element of stock options for the six
months ended June 30, 2005 was $5,660 compared to $5,290 for the comparable
period last year. From inception, general and administrative expenses were
$8,043,580 and the compensatory element of stock and stock options was
$2,291,166.

Liquidity and Capital Resources
-------------------------------

The Company continues to incur operating losses as a result of being a
development-stage company. The Company had cash of approximately $1,470 at June
30, 2005.

For the six months ended June 30, 2005 and 2004, Technology Visions incurred net
losses of $369,573 and $311,345, respectively. As of June 30, 2005, the Company
had a stockholders' deficiency and a working capital deficiency of approximately
$2,216,160 and $2,227,299, respectively. The Company is in arrears with certain
of its payables and accrued liabilities. The Company requires additional funds
to move into the marketing and commercialization of its technologies. From
inception (January 1, 1995), Technology Visions has incurred net losses of
$12,237,949. The report of Technology Visions' independent certified public
accountants on the Company's December 31, 2004 financial statements notes that
Technology Visions is a development-stage company with no revenues from its
intended operations, has recurring losses and has a working capital deficiency
and stockholders' deficiency at December 31, 2004 and these conditions raise
substantial doubt about Technology Vision's ability to continue as a going
concern.


                                       19
<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                            June 30, 2005 (Unaudited)


Net cash used by operating activities was $207,155 compared to $123,049 for the
six months ended June 30, 2005 and 2004, respectively, for an increase of
$84,106. The increase is due to increased legal and consulting expenses from the
proposed merger with Sutura.

During the six months ended June 30, 2005 and 2004, $8,248 and $644 was used in
investing activities for the purchase of new computer equipment and furniture.

Net cash provided by financing activities was $118,537 for the current six
months compared to $130,000 for the comparable period last year. Due to the
pending merger with Sutura, no capital stock transactions were completed during
the six months ended June 30, 2005. During the six months ended June 30, 2004,
$45,000 was received from the sale of stock and $80,000 from the stock purchase
agreement with Fusion Capital and notes payable used $5,000.

To date, Technology Visions has funded its operations from the private sales of
common stock or notes, most of which have been converted into common stock.
These sales have been able to fund only minimal operations and technological
developments.

Technology Visions is exploring additional sources of working capital including
borrowing, sales of securities, joint ventures and licensing of technologies.
Management believes that Technology Visions can raise adequate capital to keep
the Company functioning at a minimum level of operation in the next fiscal year.
However, there can be no assurances that management will be successful in
obtaining adequate funding to complete development of its technology or that if
any technology is fully developed, it can be manufactured on a large-scale basis
or at a feasible cost. Further, no assurance can be given that any technology
will receive market acceptance.

The Company has no current commitments for capital expenditures or additional
equity or debt financing.

ITEM 3 -- CONTROLS AND PROCEDURES

(a) As of the end of the period covered by this report, the Chief Executive
Officer and the Chief Financial Officer made an evaluation of the company's
disclosure controls and procedures (as defined in ss.240.13a-15(e) or
240.15d-15(e) of the Securities Exchange Act). Based on the evaluation of these
controls and procedures required by paragraph (b) of Rule 13a-15 or 15d-15 under
the Exchange Act, in their opinion, the disclosure controls and procedures are
effective.

(b) During the most recent fiscal year, there have not been any significant
changes in our internal controls over financial reporting or in other factors
that have materially affected, or are reasonably likely to materially affect,
our internal controls over financial reporting.


                                       20
<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                            June 30, 2005 (Unaudited)


PART II: OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

     None

ITEM 2.  CHANGES IN SECURITIES

     None

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

     None

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

     None

ITEM 5.  OTHER INFORMATION

     None

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

     (a)  Exhibits
          --------
          Exhibit 31.1     Certification of the Chief Executive Officer of
                           Technology Visions Group, Inc. pursuant to Section
                           302 of the Sarbanes-Oxley Act of 2002
          Exhibit 31.2     Certification of the Chief Financial Officer of
                           Technology Visions Group, Inc. pursuant to Section
                           302 of the Sarbanes-Oxley Act of 2002
          Exhibit 32.1     Certification of the Chief Executive Officer and
                           Chief Financial Officer of Technology Visions Group,
                           Inc. pursuant to Section 906 of the Sarbanes Oxley
                           Act of 2002

     (b)  Reports on Form 8-K
          -------------------

          None


                                       21
<PAGE>

                         TECHNOLOGY VISIONS GROUP, INC.
                          (A DEVELOPMENT-STAGE COMPANY)
                            June 30, 2005 (Unaudited)


                                   SIGNATURES

In accordance with the requirements of the Securities Exchange Act, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

                                     TECHNOLOGY VISIONS GROUP, INC.
                                     ------------------------------
                                              Registrant



Date: August 15, 2005                By: /s/   James B. Lahey
                                     -----------------------------------------
                                     James B. Lahey, Chief Executive Officer
                                     Chairman of the Board of Directors

Date: August 15, 2005                By: /s/  James A. Giansiracusa
                                     -----------------------------------------
                                     James A. Giansiracusa, Secretary
                                     Chief Financial Officer



                                       22