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

                                   Form 10-QSB

(Mark One)

[x]  Quarterly Report under Section 13 or 15(d) of the Securities
     Exchange Act of 1934

     For the quarterly period ended March 31, 2001
--------------------------------------------------------------------------

[ ]  Transition Report under Section 13 or 15(d)of the Exchange Act For the
     Transition Period from ________  to  ___________
--------------------------------------------------------------------------

                     Commission File Number: 000-28445
--------------------------------------------------------------------------

                    Global Boulevard International, Inc.
             ---------------------------------------------------
               (Name of Small Business Issuer in its charter)


             Nevada                             88-0392153
 -------------------------------   ---------------------------------------
 (State or other jurisdiction of   (I.R.S. Employer Identification Number)
  incorporation or organization)

         355 Cambridge Shore, Afton, OK                       74331
   ------------------------------------------------     -------------
    (Address of principal executive offices)               (zip code)

               918-782-9408 (Phone)       918-782-9452  (FAX)
       ---------------------------------------------------------
                      Issuer's Telephone Number

                38820 N. 25th Avenue, Phoenix, AZ  85086
--------------------------------------------------------------------------
(Former name, former address and former fiscal year, if changed since last
 report)

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

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

                                          Yes [ ]     No [X]

               APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                    PROCEEDING DURING THE PRECEDING FIVE YEARS

Check whether the Registrant filed all documents and reports
required to be filed by Section 12, 13 or 15(d) of the Exchange Act
after the distribution of securities under a plan confirmed by a court.

                                         Yes [ ]     No [ ]

                APPLICABLE ONLY TO CORPORATE ISSUERS

                                    1

<PAGE>

The Registrant has 100,000,000 Common Stock, authorized, 6,024,500 shares
of common stock issued and outstanding, par value $0.001 per share as of
March 31, 2001.

Traditional Small Business Disclosure Format (check one)

                                        Yes [  ] No [X]


                                    2

<PAGE>

PART I.  FINANCIAL INFORMATION

Item 1.   Financial Statements.................................   4
          CPA Review Letter....................................   5
          Balance Sheet (unaudited)............................   6
          Statements of Operations (unaudited).................   7
          Statements of Cash Flows (unaudited).................   8
          Notes to Financial Statements........................  9-10

Item 2.  Management's Discussion and Analysis of Plan
           of Operation........................................   11


PART II. OTHER INFORMATION

Item 1.   Legal Proceedings....................................   15

Item 2.   Changes in Securities and Use of Proceeds............   15

Item 3.   Defaults upon Senior Securities......................   15

Item 4.   Submission of Matters to a Vote
          of Security Holders..................................   15

Item 5.   Other Information.....................................  15

Item 6.   Exhibits and Reports on Form 8-K......................  15

Signatures......................................................  16

                                      3
PART I. FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS AND EXHIBITS

The unaudited financial statements of registrant for the three months ended
March 31, 2001, follow.  The financial statements reflect all adjustments
which are, in the opinion of management, necessary to a fair statement of
the results for the interim period presented.

                                     4

G. BRAD BECKSTEAD
---------------------------
Certified Public Accountant

                                                  330 E. Warm Springs
                                                 Las Vegas, NV  89119
                                                         702.528.1984
                                                  425.928.2877 (efax)

                INDEPENDENT ACCOUNTANT'S REVIEW REPORT
                --------------------------------------

Board of Directors
Global Boulevard International, Inc.
(a Development Stage Company)
Las Vegas, NV

I have reviewed the accompanying balance sheet of Global Boulevard
International, Inc. (a Nevada corporation) (a development stage company) as
of March 31, 2001 and the related statements of operations for the three-
months ended March 31, 2001 and 2000 and for the period April 16, 1998
(Inception) to March 31, 2001, and statements of cash flows for the three-
month period ending March 31, 2001 and 2000 and for the period April 16, 1998
(Inception) to March 31, 2001.  These financial statements are the
responsibility of the Company's management.

I conducted my reviews in accordance with standards established by the
American Institute of Certified Public Accountants.  A review of interim
financial information consists principally of applying analytical procedures
to financial data, and making inquiries of persons responsible for financial
and accounting matters.  It is substantially less in scope than an audit
conducted in accordance with generally accepted auditing standards, which
will be performed for the full year with the objective of expressing an
opinion regarding the financial statements taken as a whole.  Accordingly,
I do not express such an opinion.

Based on my reviews, I am not aware of any material modifications that
should be made to the accompanying financial statements referred to above
for them to be in conformity with generally accepted accounting principles.

The accompanying financial statements have been prepared assuming the Company
will continue as a going concern.  As discussed in Note 5 to the financial
statements, the Company has had limited operations and has not commenced
planned principal operations.  This raises substantial doubt about its
ability to continue as a going concern.  Management's plans in regard to
these matters are also described in Note 5.  The financial statements do not
include any adjustments that might result from the outcome of this
uncertainty.

I have previously audited, in accordance with generally accepted auditing
standards, the balance sheet of Global Boulevard International, Inc. (a
development stage company) as of December 31, 2000, and the related
statements of operations, stockholders' equity, and cash flows for the year
then ended (not presented herein) and in my report dated February 20, 2001,
I expressed an unqualified opinion on those financial statements.


/s/ G. Brad Beckstead
---------------------

April 25, 2001


                                      5
<PAGE>

<PAGE>

                    Global Boulevard International, Inc.
                       (A Development Stage Company)

                              Balance Sheet


<TABLE>
<CAPTION>

BALANCE SHEET

                                               (Unaudited)
                                                March 31,    December 31,
Assets                                             2000            2000
                                                ---------     ----------
<S>                                             <C>           <C>
Cash in held in escrow                          $     -0-     $    3,646
Organizational costs, net                             -0-            -0-
                                                ---------     ----------
Total Assets                                    $     -0-     $    3,646
                                                =========     ==========


Liabilities and Stockholders' Equity

Common stock, $0.001 par value,
     100,000,000 shares authorized; 6,024,500
     shares issued and outstanding                  6,025         6,025

Additional paid-in capital                        156,125       156,125

Deficit accumulated during development stage     (157,150)     (153,504)

Less:  Treasury stock                              (5,000)       (5,000)
                                                ----------     ---------


                                                       -0-         3,646
                                                 ---------   -----------
                                                  $    -0-    $    3,646
                                                  ========    ===========

</TABLE>

The accompanying Notes are an integral part of these financial statements.

                                     6
<PAGE>

                Global Boulevard International, Inc.
                  (A Development Stage Company)

                           Income Statement
                             (Unaudited)

<TABLE>
<CAPTION>

INCOME STATEMENT

4/16/98
                                    ---3-Months Ended---   (Inception) to
                                     3/31/01      3/31/00      3/31/01
                                    ---------    --------    -------------
<S>                                 <C>          <C>         <C>
Revenue                             $     -0-    $    -0-    $       -0-

General and administrative expenses     3,646         -0-        156,838

Write-off of organization costs           -0-         -0-            312
                                    ---------    --------    ------------
Net (loss)                          $ (3,646)    $    -0-    $  (157,150)
                                    =========    ========    ===========

Weighted average number of
    common shares outstanding      6,024,500   11,999,000      6,024,500

   Net (loss) per share            $     -0-    $     -0-    $     (0.03)

</TABLE>

The accompanying Notes are an integral part of these financial statements.

                                       7

<PAGE>



                  Global Boulevard International, Inc.
                     (A Development Stage Company)

                        Statement of Cash Flows
                              (Unaudited)

<TABLE>
<CAPTION>

STATEMENT OF CASH FLOWS
4/16/98
                                    ---3-Months Ended---    (Inception) to
                                     3/31/01      3/31/00       3/31/01
                                    ---------    --------    -------------
<S>                                   <C>           <C>        <C>
Net (loss)                            (3,646)       -0-        (157,150)
                                      -------     ------        ---------
Net cash used by
operating activities                  (3,646)       -0-         (157,150)
                                     -------      ------        ---------

CASH FLOWS FROM INVESTING ACTIVITIES

Net cash used by
investing activities                     -0-        -0-              -0-
                                      ------     ------        ---------
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of common stock                 -0-        -0-          157,150

Net cash provided by
financing activities                     -0-        -0-              -0-
                                      ------     ------         --------
     Beginning cash                    3,646        -0-          157,150
                                      ------     ------        ---------
     Ending cash                         -0-        -0-              -0-
                                      ======     ======        =========


NON-CASH TRANSACTIONS

     Interest expense                    -0-        -0-             -0-
     Income taxes                        -0-        -0-             -0-

</TABLE>

The accompanying Notes are an integral part of these financial statements.

                                      8
<PAGE>


                     Global Boulevard International, Inc.
                        (A Development Stage Company)
                                 Footnotes


Note 1 - History and organization of the company

The Company was organized April 16, 1998 (Date of Inception) under the laws of
the State of Nevada, as Registered Agents of Southern Nevada, Inc.  The
Company amended its articles in March of 1999 changing its name to Global
Boulevard International, Inc.  The Company has no operations and in accordance
with SFAS #7, the Company is considered a development stage company.  The
Company is authorized to issue 100,000,000 shares of $0.001 par value common
stock.

Note 2 - Summary of significant accounting policies

1. The Company uses the accrual method of accounting.

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

3. The Company maintains a cash balance in a non-interest-bearing bank
that currently does not exceed federally insured limits.  For the purpose
of the statements of cash flows, all highly liquid investments with the
maturity of three months or less are considered to be cash equivalents.
There are no cash equivalents as of March 31, 2001 and December 31, 2000.

4. Earnings per share (EPS) is computed using the weighted average number
of shares of common stock outstanding during the period.  Diluted EPS is
computed by dividing net income by the weighted average shares outstanding,
assuming all dilutive potential common shares were issued.  Since the
Company has no common shares that are potentially issuable, such as stock
options, convertible preferred stock and warrants, basic and diluted EPS
are the same.  The Company had no dilutive common stock equivalents such
as stock options as of March 31, 2001 and December 31, 2000.

5. The Company has not yet adopted any policy regarding payment of
dividends.  No dividends have been paid since inception.

6. Organizational costs in the amount of $360 have been fully expensed.

7. The Company will review its need for a provision for federal income
tax after each operating quarter and each period for which a statement
of operations is issued.

Note 3 - Income taxes

Income taxes are provided for using the liability method of accounting
in accordance with Statement of Financial Accounting Standards No. 109
(SFAS #109) "Accounting for Income Taxes".  A deferred tax asset or
liability is recorded for all temporary differences between financial
and tax reporting.  Deferred tax expenses (benefit) results from the
net change during the year of deferred tax assets and liabilities.

There is no provision for income taxes for the period ended March 31, 2001
and December 31,2000, due to the net loss and no state income tax in Nevada.

                                     9
<PAGE>

                     Global Boulevard International, Inc.
                        (A Development Stage Company)
                                 Footnotes

Note 4 - Stockholders' Equity

The Company is authorized to issue 100,000,000 shares of $0.001 par
value common stock.

On April 18, 1999, the Company issued 700,000 shares of its $.001 par
value common stock for cash of $700.

On September 1, 1998, the Company completed a public offering that was
exempt from federal registration pursuant to Regulation D, Rule 504 of
the Securities Act of 1933 as amended, and exemptions from state
registration pursuant to various state security transactional exemptions.
The Company sold 199,000 shares of common stock at for a total amount of
$9,950.  Of the total proceeds, $199.00 is considered common stock, and
$9,751 is considered additional paid-in capital.

On January 13, 1999, the Company issued 11,100,000 shares of common stock
for a total amount of $141,500.  Of the total proceeds, $11,100 is
considered common stock, and $130,400 is considered additional paid-in
capital.  The Company also issued 5,000,000 shares of its $.001 par value
common stock for services.  The Company then purchased 5,000,000 shares
of its $.001 par value common stock for $5,000 to be held in treasury
stock.

Effective 10/1/2000, the Company effected a 2-for-1 reverse split of its
$0.001 par value common stock resulting in post-split total issued and
outstanding shares of 5,999,500.

During October, 2000, the Company issued 25,000 shares of its $0.001 par
value common stock for a total amount of $10,000.  Of the total, $25
represents common stock and $11,975 represents additional paid-in
capital.

There have been no other issuances of common or preferred stock.

Note 5 - Going concern

The Company's financial statements are prepared using the generally
accepted accounting principles applicable to a going concern, which
contemplates the realization of assets and liquidation of liabilities
in the normal course of business.  However, the Company has not commenced
its planned principal operations.  Without realization of additional
capital, it would be unlikely for the Company to continue as a going
concern.

Note 6 - Related party transactions

The Company does not lease or rent any property.  Office services are
provided without charge by a director.  Such costs are immaterial to
the financial statements and, accordingly, have not been reflected
therein.  The officers and directors of the Company are involved in
other business activities and may, in the future, become involved in
other business opportunities.  If a specific business opportunity
becomes available, such persons may face a conflict in selecting between
the Company and their other business interests.  The Company has not
formulated a policy for the resolution of such conflicts.

Note 7 - Warrants and options

There are no warrants or options outstanding to acquire any additional
shares of common stock.

                                   10

<PAGE>

Item 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF PLAN OF OPERATIONS

GLOBAL BOULEVARD INTERNATIONAL, Inc. ("GBBV" or the "Company"), is a
development stage Internet e-Commerce company with a principal business
strategy to facilitate the hosting, creation, use of database management
systems and marketing of international e-commerce web-based businesses
through an Interactive WEB site and hosting portal.

Although the Company's original business objective has not been completely
abandoned, due to the struggle of Internet companies in the past year, the
Company is currently assessing various options and strategies to become a
profitable corporation.

The Company is evaluating its original business strategy to establish a
network of Global Transaction Centers throughout tax-neutral domiciles that
will host and facilitate the implementation of international e-commerce
activities on behalf of its client companies.  These facilities would bring
together, in one location, many of the essential technological solutions
available for successfully conducting international business through the
new emerging Internet e-commerce platform.

The Company planned to develop an interactive website to market financial
products over the Internet.

The Company planned to seek advertisers, to advertise their product(s) on
the Company's Web site.  For any advertisers on the Company's Web site, the
Company would provide a link to the advertisers' Web site and charge a
customary/nominal fee, for each customer who links to their advertisers Web
site.

A natural complement to these services is the development of an
investment and advisory component to the Global Boulevard International
e-commerce platform.  For new business owners who want to manage their capital
reserves or an already existing IBC that needs more efficient execution of
their trading activities, the use of state-of-the-art Internet tools is
essential.  Global Management Services will, therefore provide access to
advisors who are extremely qualified in the strategic business and legal
aspects that must be considered in structuring a person's and business'
international planning and corporate formation.  As each business situation has
its own unique considerations, there are clear advantages to be able to offer
clients such advisory facilities on an "in-house" basis.  We plan to do this
through Worldwide Marketing Inc., an Internet database marketing company with
extensive experience in consumer and business-to-business marketing.

Based on adverse market conditions and the failure of many Internet "dot.com"
companies, GBBV has reconsidered its original business plan, and is currently
Seeking other business strategies.

The Company has a limited operating history upon which an evaluation of
the Company, its current business and its prospects can be based, each of which
must be considered in light of the risks, expenses and problems frequently
encountered by all companies in the early stages of development, and
particularly by such companies entering new and rapidly developing markets like
the Internet.  The Company's prospects must be considered in light of the
risks, uncertainties, expenses and difficulties frequently encountered by
companies in their early stages of development, particularly companies in new
and rapidly evolving markets such as online commerce.  Such risks include,
without imitation, the lack of broad acceptance of the company's products on
the Internet, the possibility that the Internet will fail to achieve broad
acceptance, the inability of the Company to generate significant
e-Commerce based revenues from Internet customers, the company's inability to
anticipate and adapt to a developing market, the failure of the company's
network infrastructure (including its server, hardware and software) to
efficiently handle its Internet traffic, changes in laws that adversely affect
the company's business, the ability of the Company to manage its operations,
including the amount and timing of capital expenditures and other costs
relating to the expansion of the company's operations, the introduction and
development of different or more extensive communities by direct and indirect
competitors of the Company, including those with greater financial, technical
and marketing resources, the inability of the Company to maintain
and increase levels of traffic on its Web site, the inability of the
Company to attract, retain and motivate qualified personnel and general
economic conditions.

The Company has not achieved revenues or profitability to date, and the
Company anticipates that it will continue to incur net losses for the
foreseeable future.  The extent of these losses will depend, in part,
on the amount of growth in the Company's revenues from sales of its products,
and possibility advertising revenues on its Web site.  As of March 31, 2001,
the Company had an accumulated deficit of $157,150.

                                     11
<PAGE>

Going Concern- The Company's financial statements are prepared using
the generally accepted accounting principles applicable to a going concern,
which contemplates the realization of assets and liquidation of liabilities in
the normal course of business.  However, the Company has not commenced its
planned principal operations.  Without realization of additional capital, it
would be unlikely for the Company to continue as a going concern.

Unclassified Balance Sheet - In accordance with the provisions of SFAS
No. 53, the Company has elected to present an unclassified balance sheet.
Loss/Earnings Per Share - Earnings per share (EPS) is computed using
the weighted average number of shares of common stock outstanding during the
period.  Diluted EPS is computed by dividing net income by the weighted average
shares outstanding, assuming all dilutive potential common shares were issued.
Since the Company has no common shares that are potentially issuable, such as
stock options, convertible preferred stock and warrants, basic and diluted EPS
are the same.  The Company had no dilutive common stock equivalents such as
stock options as of March 31, 2001.


Results of Operations

As a developmental stage Company, the Company has yet to generate any
revenues.  In addition, the Company does not expect to generate any
revenues over the next approximately to twelve (12) months.  During the First
Quarter, ended, March 31, 2001, the Company had a net loss of $3,646.  These
funds were spent as general and administrative expenses specifically for
legal and accounting work.  Otherwise, the Company has been inactive.
Management has been involved in other projects, and has dedicated minimal
time and effort to the Company.  Miscellaneous expenses to keep the Company
active were covered by the President of the Company, who does not expect
reimbursement for said expenses.  The Company does not have any
material commitments for capital expenditures.

Plan of Operation

The Company had planned devote the major portion of its time and resources to
the development of an interactive website to market financial products over
the Internet.  Based on the adverse market conditions for Internet sites, the
Company is evaluating other strategies to pursue.


                                      12
<PAGE>

Liquidity and Capital Resources

The Company's primary sources of liquidity since its inception have
been the sale of shares of common stock from shareholders, which were used
during the period from inception through December 31, 1999.  On April 14, 1998,
the Company's founding shareholder purchased 700,000 shares of its $.001 par
value common stock for cash of $700.

On June 1, 1998, the Company completed a public offering that was
exempt from federal registration pursuant to Regulation D, Rule 504 of the
Securities Act of 1933 as amended, and exemptions from state registration
pursuant to various state security transactional exemptions.  The Company sold
199,000 shares of common stock at for a total amount of $9,950.  Of the total
proceeds, $199.00 is considered common stock, and $9,751 is considered
additional paid-in capital.

On January 13, 1999, the Company issued 11,100,000 shares of common
stock for a total amount of $141,500.  Of the total proceeds, $11,100 is
considered common stock, and $130,400 is considered additional paid-in capital.
The Company also issued 5,000,000 shares of its $.001 par value common stock
for services.  The Company then purchased 5,000,000 shares of its $.001 par
value common stock for $5,000 to be held in treasury stock.

During the 2000 annual shareholder meeting the shareholders voted to reverse
the number of shares issued on a two-for one basis.  The reverse split is took
place in the Fourth Quarter, in the year 2000.

There have been no other issuances of common or preferred stock.

The Company has limited financial resources available, which has had an
adverse impact on the Company's liquidity, activities and operations.
These limitations have adversely affected the Company's ability to obtain
certain projects and pursue additional business.  There is no assurance that the
proceeds of the Company will be able to raise sufficient funding to enhance the
Company's financial resources sufficiently to generate volume for the Company.

As a result of our the Company's current limited available cash, no
officer or director received compensation through the First Quarter ended
March 31, 2001.  GBBV intends to pay salaries when cash flow permits.  No
officer or director received stock options or other non-cash compensation
during the First Quarter year ended March 31, 2001.  The Company does have
employment agreements in place with each of its officers.

Market For Company's Common Stock

The Company's Common Stock is traded on the OTC Bulletin Board under
the symbol "GBBV" and commenced its trading under that symbol on
December 15, 1998.  It originally traded under the symbol "RGAG".  The
symbol was subsequently changed to "GOBO" and following the reverse
stock split it was changed again to its current symbol of "GBBV."

Dividend Policy

The Company has not yet adopted any policy regarding payment of dividends.
No dividends have been paid since inception.


                                     13
<PAGE>


Forward-Looking Statements

This Form 10-QSB includes "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended.  All statements, other than
statements of historical facts, included or incorporated by reference in this
Form 10-QSB which address activities, events or developments which the Company
expects or anticipates will or may occur in the future, including such things
as future capital expenditures (including the amount and nature thereof),
finding suitable merger or acquisition candidates, expansion and growth of the
Company's business and operations, and other such matters are forward-looking
statements.  These statements are based on certain assumptions and analyses
made by the Company in light of its experience and its perception of
historical trends, current conditions and expected future developments as
well as other factors it believes are appropriate in the circumstances.
However, whether actual results or developments will conform with the
Company's expectations and predictions is subject to a number of risks and
uncertainties, general economic  market and business conditions; the business
opportunities (or lack thereof) that may be presented to and pursued by the
Company; changes in laws or  regulation; and other factors, most of which are
beyond the control of the Company.

This Form10-QSB contains statements that constitute "forward-looking
statements." These forward-looking statements can be identified by the use of
predictive, future-tense or forward-looking terminology, such as "believes,"
"anticipates," "expects," "estimates," "plans," "may," "will," or similar
terms. These statements appear in a number of places in this Registration and
include statements regarding the intent, belief or current expectations of
the Company, its directors or its officers with respect to, among other
things: (i) trends affecting the Company's financial condition or results of
operations for its limited history; (ii) the Company's business and growth
strategies; (iii) the Internet and Internet commerce; and, (iv) the Company's
financing plans.  Investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve significant
risks and uncertainties, and that actual results may differ materially from
those projected in the forward-looking statements as a result of various
factors.  Factors that could adversely affect actual results and performance
include, among others, the Company's limited operating history, dependence
on continued growth in the use of the Internet, the Company's inexperience
with the Internet, potential fluctuations in quarterly operating results and
expenses, security risks of transmitting information over the Internet,
government regulation, technological change and competition.

Consequently, all of the forward-looking statements made in this Form 10-QSB
are qualified by these cautionary  statements and there can be no assurance
that the actual results or  developments  anticipated by the Company will be
realized or, even if substantially realized, that they will have the expected
consequence to or effects on the Company or its business or operations.  The
Company assumes no obligations to update any such forward-looking statements.


                                     14
<PAGE>


                           PART II OTHER INFORMATION

ITEM 1.  Legal Proceedings

As of the date hereof, GBBV is not a party to any material legal proceedings,
and none are known to be contemplated against GBBV.


ITEM 2.  Changes in Securities and Use of Proceeds

None.

ITEM 3.  Defaults upon Senior Securities

None.

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

During the quarter ended March 31, 2001, no matters were submitted to
the Company's security holders.


ITEM 5.  Other Information

None.

ITEM 6.  Exhibits and Reports on Form 8-K

None.

                                       15


                               SIGNATURES

         In accordance with Section 13 or 15(d) of the Exchange Act, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

Date:  April 30, 2001

                                   GLOBAL BOULEVARD INTERNATIONAL, INC.
                                   ------------------------------------
                                               Registrant

By: /s/ James W. McCabe, Jr.
-------------------------------
James W. McCabe, Jr., President

                                    16

<PAGE>