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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 December 30, 2002

Commission file number 0-30107

FINANCIAL VENTURES INC.

(Exact Name and Registrant as Specified in its Chapter)


|                                 |  |                                                
|-------------------------------- |  | -----------------------------------------------
|Florida
(State of Incorporation) |  | 65-0740090
(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 December 30, 2002 there were 903,800 shares of Class A common
stock, $.01 par value per share, outstanding.





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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 5, 2003 |  | FINANCIAL VENTURES INC.
|                        |  |                        
|                        |  | By: Mathew McNeally    
|                        |  |                        
|                        |  | President CEO          
|                        |  |                        
|                        |  |                        
|                        |  |                        
|                        |  | By: John Forbes        
|                        |  |                        
|                        |  | Secretary              

3



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FINANCIAL VENTURES, INC.
(A Development Stage Company)

BALANCE SHEET

DECEMBER 31, 2002(Unaudited)


|                                                                                                   |                                      |        |         |   |  | 
|-------------------------------------------------------------------------------------------------- | ------------------------------------ | ------ | ------- | - |  | 
|                                                                                                   |                                      | ASSETS |         |   |  | 
|                                                                                                   |                                      |        |         |  
|TOTAL ASSETS                                                                                       |                                      | $      |        |  
|                                                                                                   |                                      |        |         |  
|                                                                                                   |                                      |        |         |  
|STOCKHOLDERS EQUITY (DEFICIT)                                                                     |                                      |        |         |  
|                                                                                                   |                                      |        |         |  
|STOCKHOLDERS EQUITY (DEFICIT)                                                                     |                                      |        |         |  
|Common stock, $.001 par value, 50,000,000
shares authorized, 908,800 shares
issued and outstanding |                                      | $      | 909     |  
|Additional paid-in capital                                                                         |                                      |        | 9,467   |  
|Deficit accumulated during the development
stage                                                   |                                      |        | (10,376 | )
|                                                                                                   |                                      |        |         |  
|                                                                                                   | Total Stockholders Equity (Deficit) |        |         |  | 
|                                                                                                   |                                      |        |         |  
|TOTAL STOCKHOLDERS EQUITY (DEFICIT)                                                               |                                      | $      |        |  
|                                                                                                   |                                      |        |         |  

Read accompanying Notes to Financial Statements.

4



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FINANCIAL VENTURES, INC.
(A Development Stage Company)

STATEMENTS OF OPERATIONS

(Unaudited)


|                                              |                            |   |                    |   |                   |   |                  |       |      |   |                   |   |  |   |         |       |  |   |         |        | 
|--------------------------------------------- | -------------------------- | - | ------------------ | - | ----------------- | - | ---------------- | ----- | ---- | - | ----------------- | - |  | - | ------- | ----- |  | - | ------- | ------ | 
|                                              |                            |   | Three Months Ended |   | Nine Months Ended |   | Period from     
|                                              |                            |   | December 31,       |   | December 31,      |   | December 4, 1996
|                                              |                            |   |                    |   |                   |   | (Inception) to  
|                                              |                            |   | 2002               |   | 2001              |   | 2002             |       | 2001 |   | December 31, 2002
|                                              |                            |   |                    |   |                   |   |                  |       |      |   |                  
|REVENUES                                      |                            | $ |                   |   |                   | $ |                 |       |      | $ |                  |   |  | $ |        |       |  | $ |        |       
|EXPENSES                                      |                            |   |                    |   |                   |   |                  |       |      |   |                   |   |  |   |         |       |  |   |         |       
|                                              | General and administrative |   |                    |  |                   |   |                  | 3,746 |      |   |                   |  |  |   |         | 3,746 |  |   |         | 10,376 | 
|                                              |                            |   |                    |   |                   |   |                  |       |      |   |                   |   |  |   |         |       |  |   |         |       
|NET (LOSS)                                    |                            | $ |                   |   |                   | $ | (3,746           | )     |      | $ |                  |   |  | $ | (3,746  | )     |  | $ | (10,376 | )     
|                                              |                            |   |                    |   |                   |   |                  |       |      |   |                   |   |  |   |         |       |  |   |         |       
|(LOSS) PER SHARE                              |                            | $ |                   |   |                   | $ |                 |       |      | $ |                  |   |  | $ |        |       |  |   |         |       
|                                              |                            |   |                    |   |                   |   |                  |       |      |   |                   |   |  |   |         |       |  |   |         |       
|WEIGHTED AVERAGE NUMBER OF
SHARES OUTSTANDING |                            |   | 908,800            |   |                   |   | 908,800          |       |      |   | 908,800           |   |  |   | 908,800 |       |  |   |         |       
|                                              |                            |   |                    |   |                   |   |                  |       |      |   |                   |   |  |   |         |       |  |   |         |       

Read accompanying Notes to Financial Statements.

5



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FINANCIAL VENTURES, INC.
(A Development Stage Company)

STATEMENTS OF CASH FLOWS

(Unaudited)


|                                                                            |  |   |   |                   |  |                  |        |                   |  |   |         |   |  | 
|--------------------------------------------------------------------------- |  | - | - | ----------------- |  | ---------------- | ------ | ----------------- |  | - | ------- | - |  | 
|                                                                            |  |   |   | Nine Months Ended |  | Period from     
|                                                                            |  |   |   | December 31,      |  | December 4, 1996
|                                                                            |  |   |   |                   |  | (Inception) to  
|                                                                            |  |   |   | 2002              |  | 2001             |        | December 31, 2002
|                                                                            |  |   |   |                   |  |                  |        |                  
|CASH FLOWS FROM OPERATING
ACTIVITIES:                                       |  |   |   |                   |  |                  |        |                   |  |   |         |  
|Net (loss)                                                                  |  | $ |  |                   |  | $                | (3,746 | )                 |  | $ | (10,376 | )
|                                                                            |  |   |   |                   |  |                  |        |                   |  |   |         |  
|CASH FLOWS FROM FINANCING
ACTIVITIES:                                       |  |   |   |                   |  |                  |        |                   |  |   |         |  
|Proceeds from issuance of
common stock                                      |  |   |  |                   |  |                  |       |                   |  |   | 6,280   |  
|Increase in additional paid-in
capital                                      |  |   |  |                   |  |                  | 3,746  |                   |  |   | 3,896   |  
|Increase on amount due to
stockholder                                       |  |   |  |                   |  |                  |       |                   |  |   | 200     |  
|                                                                            |  |   |   |                   |  |                  |        |                   |  |   |         |  
|NET CASH PROVIDED BY FINANCING
ACTIVITIES                                   |  |   |  |                   |  |                  | 3,746  |                   |  |   | 10,376  |  
|                                                                            |  |   |   |                   |  |                  |        |                   |  |   |         |  
|NET INCREASE (DECREASE) IN CASH                                             |  |   |  |                   |  |                  |       |                   |  |   |        |  
|CASH  BEGINNING                                                            |  |   |  |                   |  |                  |       |                   |  |   |        |  
|                                                                            |  |   |   |                   |  |                  |        |                   |  |   |         |  
|CASH  ENDING                                                               |  | $ |  |                   |  | $                |       |                   |  | $ |        |  
|                                                                            |  |   |   |                   |  |                  |        |                   |  |   |         |  
|SUPPLEMENTAL DISCLOSURE OF NONCASH
INVESTING AND FINANCING ACTIVITIES:      |  |   |   |                   |  |                  |        |                   |  |   |         |  
|Reclassification of amount due to
stockholder to additional paid-in
capital |  | $ |  |                   |  | $                |       |                   |  | $ | 200     |  
|                                                                            |  |   |   |                   |  |                  |        |                   |  |   |         |  

Read accompanying Notes to Financial Statements.

6



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FINANCIAL VENTURES, INC.
(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2002


NOTE 1. ORGANIZATION

Financial Ventures, Inc. was incorporated on December 4, 1996 under the laws of the State of Florida. The company
is engaged in purchasing tropical fish for wholesale. The companys
headquarters is in Toronto, 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 March 31, 2002, included in the
Companys Form 10-KSB as filed with the SEC.

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FINANCIAL VENTURES, INC.
(A Development Stage Company)NOTES TO FINANCIAL STATEMENTS
DECEMBER 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 December 31, 2002 908,800 common shares were issued and outstanding.

8