SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

                Quarterly Report Pursuant to Section 13 or 15 (d)
                     of the Securities Exchange Act of 1934

                       For the quarter ended June 30, 1999

                           Commission File No. 0-24684

                             LONE WOLF ENERGY, INC.
                 (Name of small business issuer in its charter)

                                    Colorado
         (State or other jurisdiction of Incorporation or Organization)

                                   73-1550360
                      (IRS Employer Identification Number )

                               2400 NW 30th, #814
                          0klahoma City, Oklahoma 73112
                                 (405) 946-4850
        (Address, including zip code and telephone number, including area
                     Code of registrant's executive offices)

                               K&S VENTURES, INC.
                           (Former Name of Registrant)

      Securities registered under Section 12 (b) of the Exchange Act: none

         Securities registered under Section 12 (g) of the Exchange Act:

                         Common Stock, $0.001 par value
                                (Title of class)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15 (d) of the  Securities  Exchange  Act of 1934 during the  preceding  12
months (or for such shorter period that the Registrant was required to file such
reports),  and (2) has been subject to such filing  requirements for the past 90
days. Yes [X] No [ ]




State the number of shares outstanding of each of the issuer's classes of common
equity,  as of the  latest  practicable  date:  As of June 30,  1999  there were
11,670,000 shares of the Company's common stock issued and outstanding.

Documents Incorporated by Reference: None




<PAGE>


PART 1. - FINANCIAL INFORMATION

Item 1.  Financial Statements


                             LONE WOLF ENERGY, INC.
                          (A Development Stage Company)
                                 BALANCE SHEETS
                             June 301, 1999 AND 1998
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                        June 30,    December 31,
                                                                          1999         1998
                                                                        ---------    ---------
<S>                                                                     <C>          <C>
                                  ASSETS

Current Assets
    Cash, general checking                                              $     655    $     282
    Accrued interest receivable                                            11,481            0
    Current portion of notes receivable                                    60,496            0
                                                                        ---------    ---------
        Total current assets                                               72,632          282

Notes receivable, excluding current portion                               601,881            0
Investments                                                                32,344            0
Cash, restricted savings                                                  124,140            0
                                                                        ---------    ---------

TOTAL ASSETS                                                            $ 830,997    $     282
                                                                        =========    =========

                   LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities
    Current installments of long-term obligations                       $  51,854    $       0
    Accounts payable                                                       18,273            0
    Accrued interest payable                                                5,987            0
                                                                        ---------    ---------
        Total current liabilities                                          76,114            0

Long-term obligations , excluding current installments                    435,795            0
Deposits                                                                   24,140            0
Note payable-shareholder                                                  100,000            0
Deferred revenue                                                          173,283            0
                                                                        ---------    ---------

TOTAL LIABILITIES                                                         809,332            0
                                                                        ---------    ---------

Stockholders' Equity
     Preferred Stock, $0.001 par value, 20,000,000 shares authorized,
           No shares issued and outstanding                                     0            0
     Common Stock, $0.001 par value, 100,000,000 shares authorized,
      11,670,000 shares issued and outstanding at June 30, 1999 and
      11,170,000 at December 31, 1998                                      11,670       11,170
     Additional Paid in Capital                                            45,941       45,941




     Retained Earnings (Deficit)                                            1,326      (19,557)

Deficit Accumulated During The Development Stage                          (37,272)     (37,272)
                                                                        ---------    ---------

     Total stockholders' equity                                            21,665          282
                                                                        ---------    ---------

TOTAL LIABILITIES' AND STOCKHOLDERS' EQUITY                               830,997    $     282
                                                                        =========    =========
</TABLE>


     The accompanying notes are an integral part of the Financial Statements


                                       2
<PAGE>


                              LONE WOLF ENRGY, INC.
                          (A Development Stage Company)
                            STATEMENTS OF OPERATIONS
        For the three months and six months ended June 30, 1999 and 1998
                                   (Unaudited)

<TABLE>
<CAPTION>
                                             Three Months                 Six Months
                                                Ended                        Ended
                                      -------------------------    -------------------------
                                        June 30,      June 30,      June 30,       June 30,
                                         1999          1998           1999          1998
                                      -----------   -----------    -----------   -----------
<S>                                   <C>           <C>            <C>           <C>
Revenue                               $    68,919   $         0    $    68,919   $         0

Expenses
     Legal                                    233           260         22,233         2,944
     Accounting                             2,750             0          2,750            87
     Consulting                             5,500             0          8,500             0
     Transfer Agent                           653           397          1,028           778
     Telephone                              1,539             0          2,284             0
     Office                                   332             0            332             0
     Public Relations                         945             0            945             0
     Filing Fees                              270             0            270             0
     Interest                               9,573             0          9,573             0
     Miscellaneous                            109           453            120           453
                                      -----------   -----------    -----------   -----------
         Total Expenses                    21,904         1,110         48,036         4,262
                                      -----------   -----------    -----------   -----------

Net Income(Loss)                      $    47,015   $    (1,110)   $    20,883   $    (4,262)
                                      -----------   -----------    -----------   -----------


Weighted Average Shares Outstanding    11,670,000     4,250,000     11,670,000     4,250,000
                                      -----------   -----------    -----------   -----------

Loss Per Share                        $      0.00   $      0.00    $      0.00   $      0.00
                                      -----------   -----------    -----------   -----------
</TABLE>


     The accompanying notes are an integral part of the Financial Statements


                                       3
<PAGE>

                              LONE WOLF ENERGY INC.
                          (A Development Stage Company)
                            STATEMENTS OF CASH FLOWS
                For the three months ended June 30, 1999 and 1998
                                   (Unaudited)

                                                        June 30,      June 30,
                                                          1999          1998
                                                        ---------     ---------
Operating Activities:
     Net Income (loss)                                  $  20,883     ($  4,262)
     Change in Accounts Payable                            18,273         2,355
     Increase in Interest Payable                           5,987          --
     Increase in Long-Term Debt                           487,649          --
     Increase in Deferred Revenue                         173,283          --
     Increase in Interest Receivable                      (11,481)         --
     Increase in Notes Receivable                        (662,377)         --
     Increase in Investments                              (32,344)         --
                                                        ---------     ---------

     Cash Used In Operating Activities                       (127)       (1,907)
                                                        ---------     ---------

Financing Activities:
     Common Stock Issued For Services Rendered                500         1,907

                                                        ---------     ---------
       Cash provided by financing activities                  500         1,907

Investing Activities                                         --            --
                                                        ---------     ---------

Change in Cash                                                373          --

Cash at Beginning of Period                                   282          --

                                                        ---------     ---------

Cash at End of Period                                   $     650     $       0
                                                        ---------     ---------

     The accompanying notes are an integral part of the Financial Statements


                                       4
<PAGE>

                             LONE WOLF ENERGY, INC.
                           A Development Stage Company
                          (Formerly K&S Ventures, Inc.)
                          NOTES TO FINANCIAL STATEMENTS
        For the three months and six months ended June 30, 1999 and 1998

1.   SIGNIFICANT ACCOUNTING POLICIES

     Organization

     Lone Wolf Energy,  Inc.  (formerly K&S Ventures,  Inc.) was incorporated on
March 4, 1991 in the state of Colorado.  In February  1999 the Company  signed a
Master  Sales  Agreement  with  Eagle  Capital,   Inc.  (OTCBB:  ECIC)  to  sell
specialized  equipment used in producing patented IMSI blocks for mortarless dry
stack  construction.  The agreement  calls for the Company to provide ten mobile
block plants and five portable Q-Bond plants over the next three years.

     Basis of Accounting

     Assets,  liabilities,  equity,  revenue and expenses are recorded under the
accrual method of accounting in conformity  with generally  accepted  accounting
principles.

     Cash and cash equivalents

     The  Company   considers  all  cash  and  marketable   securities  as  cash
equivalents.

     Income Taxes

     For the years prior to 1997,  the Company was taxed under the provisions of
Subchapter S of the Internal Revenue Code. Under the provisions of the Code, all
losses or taxable income flowed to the  stockholders of the Company.  In January
1997, the Company's  standing as a Subchapter S  corporation,  as defined by the
Internal  Revenue  Code,  was changed  because of the  purchase of common  stock
during 1997 by a corporate  shareholder.  Beginning with the year ended December
31,  1997,  the Company  will be  considered  a "C"  corporation  for income tax
purposes.

     Fiscal Year End

     The Company's fiscal year end is December 31.

     Earnings (Loss) per Share

     Primary income (loss) per share is calculated by dividing net income (loss)
by the weighted average shares of common stock of the Company outstanding during
the period .

     Use of Estimates

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



                                       5
<PAGE>


2.   STOCKHOLDERS' EQUITY

     Issuance of Common Stock

     During 1998 6,500,000 shares were issued at 0.001 for services  rendered by
related parties and stockholders.  There were 500,000 additional shares of stock
that were to be issued  which  were  overlooked  in 1998 and were  Issued in the
current quarter.

3.   INCOME TAXES

     The deferred tax assets and liabilities are as follows:

     Net operating loss carryforward                                $14,909
     Less:  valuation allowance                                      14,909
                                                                    -------

     Net deferred tax asset                                         $     0
                                                                    -------

     As of December 31, 1998, the Company has a net operating loss  carryforward
of approximately $37,000 for income tax purposes and expires as follows:

Year of Loss       Expires           Carryforward Amount     Deferred Tax Asset
                                                             or (Liability)

1997               2012              $         11,000        $       4,332
1998               2013                        26,000               10,577
                                     ----------------        -------------
                                     $         37,000        $      14,909
                                     ================        =============


     Deferred   taxes  reflect  a  combined   federal  and  state  tax  rate  of
approximately 40%.

4.   DEVELOPMENT STAGE OPERATIONS

     The Company has been is a development stage  enterprise.  Its primary focus
since inception of the new operating plan has been raising  capital.  In 1999 it
is being reported as an operating entity.

5.   NOTES RECEIVABLE

     The Company  purchased a piece of equipment  for resale for  $500,000.  The
sale  call for the  Company  to  receive  84  monthly  installments  of  $12,000
beginning in May of 1999.  The sale price was imputed  using an interest rate of
12%,  which  resulted in a sale price of  $679,000.  The  current and  long-term
portions of the note receivable represent the balance due on this debt.

6.   CASH-RESTRICTED SAVINGS

     This  represents  a  $24,000  deposit  for the  last  two  payments  on the
equipment sold plus  $100,000,  which was loaned to the Company by a shareholder
which is pledged to the bank as  additional  collateral  on the loan the Company
has against the equipment purchased.


7.   LONG-TERM OBLIGATIONS

     This is an 8 1/2% seven year note payable to a bank in monthly installments
of  $7,918  including  principal  and  Interest  on the  equipment  the  Company
purchased and resold. It is secured by the equipment,  $100,000 cash loaned by a
shareholder  and the personal  guarantee of another  shareholder.  The bank also
received an option to purchase  500,000  shares of the Company's  stock at $0.15
per share for making the loan.

8.   DEFERRED REVENUE

     This is the difference between the purchase price of the equipment sold and
the imputed sale price.  The  $179,700 is being  recognized  on the  installment
method  with  $2,193 per month  being  recognized  over the 84 month term of the
agreement.



                                       6
<PAGE>

Item  2.    Management's Discussion and Analysis or Plan of Operation

     Plan of Operations

     In February of 1999 the Company signed a Master  Equipment  Sales Agreement
with Eagle Capital,  Inc,  (OTCBB:ECIC)  to sell  specialized  equipment used in
producing  patented  IMSI  blocks for  mortarless  dry stack  construction.  The
Agreement  calls for the  Company to provide ten mobile  blocks  plants and five
portable  Q-Bond  plants over the next three years.  Through the  guarantees  of
certain key shareholders the Company has already obtained  $500,000 in financing
for the first plant.  In April of 1999 Eagle  ordered the first plant and paid a
deposit of $48,000  covering  the first two and last two  payments on the plant.
The Company  incurred  approximately  $22,000 in legal fees to get this contract
signed.

     In May of 1999  the  company  signed a  letter  of  intent  to  acquire  EP
Distributing  Company.  EP Distributing and its affiliated groups brokers in the
nutritional  area with its primary line being Earths'  Pharmacy  products  which
include 17 private  labeled  nutritional  products  which are sold  through some
retail  pharmacies,  Doctors,  Radio  Talk  show  sponsorship  and the  internet
(www.epphysiciansformula.com). The Company is currently negotiating financing to
complete this acquisition.

     Results of operations

     Due to problems  incurred on the sale  contract  the Company  negotiated  a
payment of  approximately  $44,000 in cash and stock  which is  included  in the
current quarter revenues.

PART II.    OTHER INFORMATION

Item  1.    Legal Proceedings

Not Applicable

Item  2.    Change in Securities

Not Applicable

Item  3.    Defaults Upon Senior Securities

Not Applicable

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

Not Applicable

Item  5.    Other Information

Not Applicable

Item  6.    Exhibits and Reports on Form 8-K

Exhibits

     None

Reports on Form 8-K

     None


                                       7
<PAGE>

                                   SIGNATURES

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


                                              LONE WOLF ENERGY, INC.

                                                      /s/    Douglas A. Newman
                                                      -------------------------
                                              By:     Douglas A. Newman, Sec,y

Date: August 8, 1999


                                       8