##### 



SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-QSB

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT 1934
For the period ended August 31, 2002

Commission file number 0-30107

Capital Group One, Inc.

(Exact Name and Registrant as Specified in its Chapter)


|                                 |  |                                                
|-------------------------------- |  | -----------------------------------------------
|Florida
(State of Incorporation) |  | 65-0830090
(IRS Employer Identification Number)

|                                                                                                     |  |                   
|---------------------------------------------------------------------------------------------------- |  | ------------------
|120 Adelaide Street West
Suite 1214
Toronto, Ontario
Canada
(Address of Principal Executive Offices) |  | M5H 1T1
(Zip Code)

Registrants telephone number, including area code: 416-214-9735

Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report:Not Applicable

Indicate by check mark whether the registrant: (1) has filed all reports
required by Section 13 or 15 (d) of the Securities and 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   o.

As of August 31, 2002 there were 2,200,000 shares of Class A common
stock, $.01 par value per share, outstanding.





---



##### 



PART 2
OTHER INFORMATION

Item 1. Legal Proceedings

None

Item 2. Changes in Securities

None

Item 3. Defaults upon Senior Securities

None

Item 4. Submissions of Matters to a Vote of Security Holdings

None

Item 5. Other Information

None
2

SIGNATURES

Pursuant to the requirements of the Securities Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.

|                        |  |                        
|----------------------- |  | -----------------------
|Dated: February 4, 2003 |  | FINANCIAL VENTURES INC.
|                        |  |                        
|                        |  |                        
|                        |  | By: Mathew McNeally    
|                        |  |                        
|                        |  | President CEO          
|                        |  |                        
|                        |  |                        
|                        |  |                        
|                        |  | By: James Stewart      
|                        |  |                        
|                        |  | Secretary              

3



---



##### 



CAPITAL GROUP ONE, INC.
(A Development Stage Company)

BALANCE SHEET


AUGUST 31, 2002
(Unaudited)


|                                     |                                                                                                      |                                      |   |        |   |  |  | 
|------------------------------------ | ---------------------------------------------------------------------------------------------------- | ------------------------------------ | - | ------ | - |  |  | 
|ASSETS                               |                                                                                                      |                                      |   |       
|                                     |                                                                                                      |                                      |   |       
|TOTAL ASSETS                         |                                                                                                      | $                                    |  |       
|                                     |                                                                                                      |                                      |   |       
|                                     |                                                                                                      |                                      |   |       
|                                     |                                                                                                      |                                      |   |       
|STOCKHOLDERS EQUITY (DEFICIT)       |                                                                                                      |                                      |   |       
|                                     |                                                                                                      |                                      |   |       
|STOCKHOLDERS EQUITY (DEFICIT)       |                                                                                                      |                                      |   |       
|                                     | Common stock, $.001 par value, 50,000,000
shares authorized, 2,200,000 shares
issued and outstanding |                                      |   | 2,200  |  
|                                     | Additional paid-in capital                                                                           |                                      |   | 3,267  |  
|                                     | Deficit accumulated during the development
stage                                                     |                                      |   | (5,467 | )
|                                     |                                                                                                      |                                      |   |       
|                                     |                                                                                                      | Total Stockholders Equity (Deficit) |   |        |  | 
|                                     |                                                                                                      |                                      |   |       
|TOTAL STOCKHOLDERS EQUITY (DEFICIT) |                                                                                                      | $                                    |  |       
|                                     |                                                                                                      |                                      |   |       

Read accompanying Notes to Financial Statements.

4



---



##### 



CAPITAL GROUP ONE, INC.
(A Development Stage Company)

STATEMENTS OF OPERATIONS


(Unaudited)


|                                              |                            |   |                    |   |                  |   |                |   |      |   |                 |     |  |   |           |     |  |   |        |       | 
|--------------------------------------------- | -------------------------- | - | ------------------ | - | ---------------- | - | -------------- | - | ---- | - | --------------- | --- |  | - | --------- | --- |  | - | ------ | ----- | 
|                                              |                            |   | Three Months Ended |   | Six Months Ended |   | Period from   
|                                              |                            |   | August 31,         |   | August 31,       |   | March 12, 1997
|                                              |                            |   |                    |   |                  |   | (Inception) to
|                                              |                            |   | 2002               |   | 2001             |   | 2002           |   | 2001 |   | August 31, 2002
|                                              |                            |   |                    |   |                  |   |                |   |      |   |                
|REVENUES                                      |                            | $ |                   |   |                  | $ |               |   |      | $ |                |     |  | $ |          |     |  | $ |       |      
|                                              |                            |   |                    |   |                  |   |                |   |      |   |                 |     |  |   |           |     |  |   |        |      
|EXPENSES                                      |                            |   |                    |   |                  |   |                |   |      |   |                 |     |  |   |           |     |  |   |        |      
|                                              | General and administrative |   |                    |  |                  |   |                |  |      |   |                 | 150 |  |   |           | 900 |  |   |        | 5,467 | 
|                                              |                            |   |                    |   |                  |   |                |   |      |   |                 |     |  |   |           |     |  |   |        |      
|NET (LOSS)                                    |                            | $ |                   |   |                  | $ |               |   |      | $ | (150            | )   |  | $ | (900      | )   |  | $ | (5,467 | )    
|                                              |                            |   |                    |   |                  |   |                |   |      |   |                 |     |  |   |           |     |  |   |        |      
|(LOSS) PER SHARE                              |                            | $ |                   |   |                  | $ |               |   |      | $ |                |     |  | $ |          |     |  |   |        |      
|                                              |                            |   |                    |   |                  |   |                |   |      |   |                 |     |  |   |           |     |  |   |        |      
|WEIGHTED AVERAGE NUMBER OF
SHARES OUTSTANDING |                            |   | 2,200,000          |   |                  |   | 2,200,000      |   |      |   | 2,200,000       |     |  |   | 2,200,000 |     |  |   |        |      
|                                              |                            |   |                    |   |                  |   |                |   |      |   |                 |     |  |   |           |     |  |   |        |      

Read accompanying Notes to Financial Statements.

5



---



##### 



CAPITAL GROUP ONE, INC.
(A Development Stage Company)

STATEMENTS OF CASH FLOWS


(Unaudited)


|                                                                       |                                                                             |                                            |     |                  |      |               |     |      |      |   |       |             |        |  
|---------------------------------------------------------------------- | --------------------------------------------------------------------------- | ------------------------------------------ | --- | ---------------- | ---- | ------------- | --- | ---- | ---- | - | ----- | ----------- | ------ | -
|                                                                       |                                                                             |                                            |     |                  |      |               |     |      |      |   |       | Period From
|                                                                       |                                                                             |                                            |     |                  |      |               |     |      |      |   |       | March 12,  
|                                                                       |                                                                             |                                            |     | Six Months Ended |      | 1997         
|                                                                       |                                                                             |                                            |     | August 31,       |      | (Inception)  
|                                                                       |                                                                             |                                            |     |                  |      | to August 31,
|                                                                       |                                                                             |                                            |     | 2002             |      | 2001          |     | 2002
|                                                                       |                                                                             |                                            |     |                  |      |               |     |     
|CASH FLOWS FROM OPERATING ACTIVITIES:                                  |                                                                             |                                            |     |                  |      |               |     |      |      |   |       |            
|                                                                       |                                                                             | Net (loss)                                 |     | $                | (150 | )             |     | $    | (900 | ) |       | $           | (5,467 | )
|                                                                       |                                                                             |                                            |     |                  |      |               |     |      |      |   |       |            
|                                                                       |                                                                             |                                            |     |                  |      |               |     |      |      |   |       |            
|CASH FLOWS FROM INVESTING ACTIVITIES:                                  |                                                                             |                                            |     |                  |      |               |     |      |      |   |       |            
|                                                                       |                                                                             | Repayment of note receivable  stockholder |     |                  |     |               |     |      |     |   |       |             | 1,200  |  
|                                                                       |                                                                             |                                            |     |                  |      |               |     |      |      |   |       |            
|                                                                       |                                                                             |                                            |     |                  |      |               |     |      |      |   |       |            
|CASH FLOWS FROM FINANCING ACTIVITIES:                                  |                                                                             |                                            |     |                  |      |               |     |      |      |   |       |            
|                                                                       |                                                                             | Proceeds from issuance of common stock     |     |                  |     |               |     |      |     |   |       |             | 1,000  |  
|                                                                       |                                                                             | Increase in additional paid-in capital     |     |                  | 150  |               |     |      | 900  |   |       |             | 1,050  |  
|                                                                       |                                                                             | Increase in amount due to stockholder      |     |                  |     |               |     |      |     |   |       |             | 2,217  |  
|                                                                       |                                                                             |                                            |     |                  |      |               |     |      |      |   |       |            
|NET CASH PROVIDED BY FINANCING ACTIVITIES                              |                                                                             |                                            | 150 |                  |      |               | 900 |      |      |   | 4,267 |            
|                                                                       |                                                                             |                                            |     |                  |      |               |     |      |      |   |       |            
|                                                                       |                                                                             |                                            |     |                  |      |               |     |      |      |   |       |            
|NET INCREASE (DECREASE) IN CASH                                        |                                                                             |                                            |    |                  |      |               |    |      |      |   | 5,467 |            
|CASH  BEGINNING                                                       |                                                                             |                                            |    |                  |      |               |    |      |      |   |      |            
|                                                                       |                                                                             |                                            |     |                  |      |               |     |      |      |   |       |            
|CASH  ENDING                                                          |                                                                             | $                                          |    |                  |      | $             |    |      |      | $ |      |            
|                                                                       |                                                                             |                                            |     |                  |      |               |     |      |      |   |       |            
|                                                                       |                                                                             |                                            |     |                  |      |               |     |      |      |   |       |            
|SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING
AND FINANCING ACTIVITIES: |                                                                             |                                            |     |                  |      |               |     |      |      |   |       |            
|                                                                       | Common stock issued in exchange for note
receivable                         |                                            | $   |                 |      |               | $   |     |      |   | $     | 1,200       |       
|                                                                       |                                                                             |                                            |     |                  |      |               |     |      |      |   |       |            
|                                                                       | Reclassification of amount due to
stockholder to additional paid-in capital |                                            | $   |                 |      |               | $   |     |      |   | $     | 2,217       |       
|                                                                       |                                                                             |                                            |     |                  |      |               |     |      |      |   |       |            

Read accompanying Notes to Financial Statements.

6



---



##### 



CAPITAL GROUP ONE, INC.
(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS


AUGUST 31, 2002


NOTE 1. ORGANIZATION

Capital Group One, Inc. was incorporated on March 12, 1997 under the laws of the
State of Florida. The Company is engaged in the acquisition and renovation of
foreclosed residential homes for resale. The Companys headquarters is in
Toronto, Ontario, Canada.

The Company has no revenues to date. Since inception, the Company has been
dependent upon the receipt of capital investment or other financing to fund its
continuing activities. In addition to the normal risks associated with a new
business venture, there can be no assurance that the Companys product
development will be successfully completed or that it will be a commercial
success. Further, the Company is dependent upon certain related parties to
provide continued funding and capital resources.

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying condensed financial statements are unaudited. These statements
have been prepared in accordance with the rules and regulations of the
Securities and Exchange Commission (SEC). Certain information and footnote
disclosures normally included in financial statements prepared in accordance
with generally accepted accounting principles have been condensed or omitted
pursuant to such rules and regulations. In the opinion of management, all
adjustments (which include only normal recurring adjustments) considered
necessary for a fair presentation have been included. These financial statements
should be read in conjunction with the Companys financial statements and notes
thereto for the year ended February 28, 2002, included in the Companys Form
10-KSB as filed with the SEC.

7



---



##### 



CAPITAL GROUP ONE, INC.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
AUGUST 31, 2002

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

(Loss) Per Share

(Loss) per share is computed by dividing net (loss) for the year by the weighted
average number of shares outstanding.

Use of Estimates

Management uses estimates and assumptions in preparing financial statements in
accordance with generally accepted accounting principles. Those estimates and
assumptions affect the reported amounts of assets and liabilities, the
disclosure of contingent assets and liabilities, and the reported revenues and
expenses. Accordingly, actual results could vary from the estimates that were
assumed in preparing the financial statements.

NOTE 3. CAPITAL STOCK

The Company has authorized 50,000,000 common shares with a par value of $.001
per share. As of August 31, 2002 2,200,000 common shares were issued and
outstanding.

8