----

----

**UNITED        STATES**

**SECURITIES        AND EXCHANGE COMMISSION**

**Washington,        D.C. 20549**

----

**FORM        10-QSB**

| (Mark                  One)                          |                                                                                                                                                                                    |
|------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                 |                                                                                                                                                                                    |
| x                                                    | QUARTERLY REPORT                PURSUANT                TO SECTION 13                or 15(d)                OF                THE SECURITIES  EXCHANGE                ACT OF 1934 |
|                                                 | For                  the quarterly period ended July                  31, 2005                                                                                                |
|                                                 |                                                                                                                                                                                    |
| o                                                    | TRANSITION REPORT UNDER SECTION 13 or 15(d) OF                THE                EXCHANGE ACT                                                                                           |
|                                                 |                                                                                                                                                                                    |
|                                                 | For                  the transition period from ______________ to ________________                                                                                                      |
|                                                 |                                                                                                                                                                                    |
|  Commission                  File No.333-116480 |

**FERMAVIR        PHARMACEUTICALS, INC.**

|   | Florida                                                                                        |   | 16-1639902                                           |   |
|--------|------------------------------------------------------------------------------------------------|--------|------------------------------------------------------|--------|
|   | (State                    or jurisdiction of incorporation or                    organization) |   | (IRS                    Employer Identification No.) |   |
|   |                                                                                           |   |                                                 |   |

|   | 420                      Lexington Avenue, Suite 445, New York, NY 10170 |   |
|--------|--------------------------------------------------------------------------|--------|
|   | (Address                      of Principal Executive Office)             |   |

|   | (212)                      375-2630                    |   |
|--------|--------------------------------------------------------|--------|
|   | (Issuer’s                      telephone number) |   |

|   | N/A                                                                                                                      |   |
|--------|--------------------------------------------------------------------------------------------------------------------------|--------|
|   | (Former                    name, former address and former fiscal year, if changed                    since last report) |   |

----

----

----

**INTRODUCTORY        NOTE **

----

**PART        I - FINANCIAL INFORMATION**

**Item        1:         **
**Financial        Statements**

**FERMAVIR        PHARMACEUTICALS, INC.**

**(FORMERLY        VENUS BEAUTY SUPPLY, INC.)**

**(A        DEVELOPMENT STAGE COMPANY)**

**BALANCE        SHEET**

**JULY        31, 2005**

| **ASSETS**                                                                                                                                  |
|---------------------------------------------------------------------------------------------------------------------------------------------|
| CURRENT                  ASSETS                                                                                                             |   |   |   |
| Cash                                                                                                                                        |   | $ | 0 |   |
| Total                  current assets                                                                                                       |   |   | 0 |   |
|                                                                                                                                        |   |   |   |   |
| Total                  Assets                                                                                                               |   | $ | 0 |   |
| **LIABILITIES                  AND STOCKHOLDERS’ EQUITY** **(DEFICIT)**                                                          |
| CURRENT                  LIABILITIES                                                                                                        |   |   |   |   |
| Accounts                  payable                                                                                                           |   | $ | 10,000 |   |
| Total                  current liabilities                                                                                                  |   |   | 10,000 |   |
|                                                                                                                                        |   |   |   |   |
| Total                  Liabilities                                                                                                          |   | $ | 10,000 |   |
|                                                                                                                                        |   |   |   |   |
| STOCKHOLDERS’                  EQUITY (DEFICIT)                                                                                       |   |   |   |   |
| Preferred                  stock, $0. 001 par value, 20,000,000 shares authorized; none                  issued and outstanding             |   | $ | 0 |   |
| Common                  stock, $0. 0001 par value, 100,000,000 shares authorized; 79,380,000                  shares issued and outstanding |   |   | 7,938 |   |
| Additional                  paid in capital                                                                                                 |   |   | 6,562 |   |
| Deficit                  accumulated during the development stage                                                                           |   |   | (24,500 | ) |
|                                                                                                                                        |   |   |   |   |
| Total                  stockholders’ equity (deficit)                                                                                 |   |   | (10,000 | ) |
|                                                                                                                                        |   |   |   |   |
| Total                  Liabilities and Stockholders’ Equity (Deficit)                                                                 |   | $ | 0 |   |

----

**FERMAVIR        PHARMACEUTICALS, INC.**

**(FORMERLY        VENUS BEAUTY SUPPLY, INC.)**

**(A        DEVELOPMENT STAGE COMPANY)**

**STATEMENTS        OF OPERATIONS**

**FOR        THE THREE MONTHS ENDED JULY 31 2005 AND 2004 AND FOR THE PERIOD FROM NOVEMBER        15, 2002, (INCEPTION) TO JULY 31, 2005**

|                                                                  |       | **FOR                  THE PERIOD****NOVEMBER                  15, 2002****(INCEPTION)                  TO****JULY                  31,  ** | ** ** | **THREE****MONTHS                  ENDED****JULY                  31, ** | ** ** |
|-----------------------------------------------------------------------|------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|------------|-------------------------------------------------------------------------------|------------|
| ** **                                                            | ** ** | ** 2005  **                                                                                                                            | ** ** | ** 2005   **                                              | ** ** | ** 2004**   |   |
|                                                                  |       |                                                                                                                                                  |       |                                                                          |       |   |   |
| REVENUES                                                              |       | $                                                                                                                                                     | 0          |                                                                          | $          | 0 |   | $ | 0 |   |
|                                                                  |       |                                                                                                                                                  |       |                                                                          |       |   |   |   |   |   |
| OPERATING                  EXPENSES                                   |       |                                                                                                                                                  | 24,500     |                                                                          |       | 224 |   |   | 4,055 |   |
|                                                                  |       |                                                                                                                                                  |       |                                                                          |       |   |   |   |   |   |
| Operating                  loss before interest expense               |       |                                                                                                                                                  | (24,500    | )                                                                             |       | (224 | ) |   | (4,055 | ) |
|                                                                  |       |                                                                                                                                                  |       |                                                                          |       |   |   |   |   |   |
| INTEREST                  EXPENSE                                     |       |                                                                                                                                                  | 0          |                                                                          |       | 0 |   |   | 0 |   |
|                                                                  |       |                                                                                                                                                  |       |                                                                          |       |   |   |   |   |   |
| Loss                  before provision for income taxes               |       |                                                                                                                                                  | (24,500    | )                                                                             |       | (224 | ) |   | (4,055 | ) |
| Income                  taxes                                         |       |                                                                                                                                                  | -0-        |                                                                          |       | -0- |   |   | -0- |   |
| Net                  income (loss)                                    |       | $                                                                                                                                                     | (24,500    | )                                                                             | $          | (224 | ) | $ | (4,055 | ) |
| Per                  Share (loss)                                     |       |                                                                                                                                                  |       |                                                                          | $          | 0.00 |   | $ | 0.00 |   |
| Weighted                  average number of common shares outstanding |       |                                                                                                                                                  |       |                                                                          |       | 79,380,000 |   |   | 79,380,000 |   |

----

**FERMAVIR        PHARMACEUTICALS, INC.**

**(FORMERLY        VENUS BEAUTY SUPPLY, INC.)**

**(A        DEVELOPMENT STAGE COMPANY)**

**STATEMENTS        OF CASH FLOWS**

**FOR        THE THREE MONTHS ENDED JULY 31 2005 AND 2004 AND FOR THE PERIOD FROM NOVEMBER        15, 2002, (INCEPTION) TO JULY 31, 2005**

|                                                                                                                |   | **FOR                  THE PERIOD****NOVEMBER                  15, 2002****(INCEPTION)                  TO****JULY                  31,**  |    | **THREE****MONTHS                  ENDED****JULY                  31,**  |   |
|---------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------|---------|-------------------------------------------------------------------------------|--------|
|                                                                                                                |   | **2005 **                                                                                                                                  |    | **2005 **                                                           |   | **2004** |   |
|                                                                                                                |   |                                                                                                                                            |    |                                                                          |   |   |   |
| **CASH                  FLOWS FROM OPERATING ACTIVITIES:**                                                          |   |                                                                                                                                            |    |                                                                          |   |   |   |
| Net                  income (loss)                                                                                  |   | $                                                                                                                                               | (24,500 | )                                                                             | $      | (224 | ) | $ | (4,055 | ) |
| Adjustments                  to reconcile net income to net cash provided by operating                  activities: |   |                                                                                                                                            |    |                                                                          |   |   |   |   |   |   |
| Stock                  based compensation                                                                           |   |                                                                                                                                            |    |                                                                          |   |   |   |   |   |   |
| Changes                  in operating assets and liabilities:                                                       |   |                                                                                                                                            |    |                                                                          |   |   |   |   |   |   |
|                                                                                                                |   |                                                                                                                                            |    |                                                                          |   |   |   |   |   |   |
| Increase                  (decrease) in accounts payable                                                            |   |                                                                                                                                            | 10,000  |                                                                          |   | 0 |   |   | 0 |   |
|                                                                                                                |   |                                                                                                                                            |    |                                                                          |   |   |   |   |   |   |
| Net                  cash provided (used) by operating activities                                                   |   |                                                                                                                                            | (14,500 | )                                                                             |   | (224 | ) |   | (4,055 | ) |
|                                                                                                                |   |                                                                                                                                            |    |                                                                          |   |   |   |   |   |   |
| **CASH                  FLOWS FROM INVESTING ACTIVITIES:**                                                          |   |                                                                                                                                            |    |                                                                          |   |   |   |   |   |   |
|                                                                                                                |   |                                                                                                                                            |    |                                                                          |   |   |   |   |   |   |
| Net                  cash provided (used) by investing activities                                                   |   |                                                                                                                                            | 0       |                                                                          |   | 0 |   |   | 0 |   |
|                                                                                                                |   |                                                                                                                                            |    |                                                                          |   |   |   |   |   |   |
| **CASH                  FLOWS FROM FINANCING ACTIVITIES:**                                                          |   |                                                                                                                                            |    |                                                                          |   |   |   |   |   |   |
| Proceeds                  from common stock                                                                         |   |                                                                                                                                            | 14,500  |                                                                          |   | 0 |   |   | 0 |   |
| Net                  cash provided (used) by financing activities                                                   |   |                                                                                                                                            | 14,500  |                                                                          |   | 0 |   |   | 0 |   |
| Net                  increase (decrease) in cash                                                                    |   |                                                                                                                                            | 0       |                                                                          |   | (224 | ) |   | (4,055 | ) |
| **CASH**                  and equivalents, beginning of period                                                      |   |                                                                                                                                            | 0       |                                                                          |   | 224 |   |   | 14,341 |   |
| **CASH**                  and equivalents, end of period                                                            |   | $                                                                                                                                               | 0       |                                                                          | $      | 0 |   | $ | 10,286 |   |
| **SUPPLEMENTAL                  DISCLOSURE OF CASH FLOW****INFORMATION:**                                           |   |                                                                                                                                            |    |                                                                          |   |   |   |   |   |   |
| Payment                  of taxes                                                                                   |   | $                                                                                                                                               | 0       |                                                                          | $      | 0 |   | $ | 0 |   |
| Payment                  of interest in cash                                                                        |   | $                                                                                                                                               | 0       |                                                                          | $      | 0 |   | $ | 0 |   |

----

**FERMAVIR          PHARMACEUTICALS, INC.**

**(FORMERLY          VENUS BEAUTY SUPPLY, INC.)**

**(A          DEVELOPMENT STAGE COMPANY)**

**NOTES          TO          FINANCIAL STATEMENTS**

| **NOTE                      1    ** | **SIGNIFICANT                      ACCOUNTING POLICIES**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|---------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                    | **Organization                      and Operations**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                    | The                      Company                      was organized under the laws of the State of Florida on November                      15, 2002.                      Effective August 16, 2005, the company changed its name to                      Fermavir                      Pharmaceuticals, Inc. The Company is in the development stage.                      The Company                      plans to develop a distribution channel in the beauty salon                      industry                      selling a comprehensive supply of products utilizing the world                      wide web.                      The company currently has no operations.                                             |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                    | **Basis                      of Accounting**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                    | The                      Company's policy is to prepare its financial statements using                      the accrual                      basis of accounting in accordance with generally accepted accounting                      principles. The Company has retained April 30 as its annual                      year                      end.                                                                                                                                                                                                                                                                                                                                                                               |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                    | **Use                      of Estimates**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                    | 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,                      the disclosure of contingent assets and liabilities at the                      date of the                      financial statements, and the reported amounts of revenues                      and expenses                      during the reporting period. Actual results could differ from                      those                      estimates. |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                    | **Cash                      and Equivalent**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                    | Cash                      and                      cash equivalents include cash and cash in banks. The company                      maintains                      cash and cash equivalent balances at a financial institution                      that is                      insured by the federal deposit Insurance Corporations up to                      $100,000. At                      July 31, 2005, there is no concentration of credit risk from                      uninsured                      bank balances**.**                                                                                                                                                                                            |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                    | **Revenue                      Recognition**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                    | The                      Company                      will recognize income when products are shipped to customers.                      As of July                      31, 2005, the Company had incurred no sales and was still in                      the                      development stage.                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                    | **Start–up                      and organizational costs**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                    | The                      Company                      has expensed all start-up costs in the period incurred in accordance                      with                      SOP 98-5.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                    | **Interim                      Statements**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                    | The                      financial statements for the three months ending July 31, 2005                      and 2004                      are unaudited and include all adjustments which in the opinion                      of                      management are necessary for a fair presentation, and such                      adjustments are                      of a normal and recurring nature.                      The                      results of operations for the three months are not indicative                      of a full                      year of results.                                                                                                                                  |

----

|   | **Development                      Stage**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | The                      Company is in its development stage. The Company since inception                      has not                      commenced its operations, nor has generated sufficient working                      capital to                      pursue its business objectives. The accumulated deficit during                      its                      development stage is approximately $ 24,500.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | **Net                      Earnings (Losses) Per Share**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | The                      Company reports its net earnings (losses) per share in accordance                      with                      SFAS No. 128 "Earnings Per Share". Basic net earnings (losses)                      per share                      is computed by dividing net income (loss) available to common                      stockholders                      by the weighted averaged number of common shares outstanding.                      Diluted                      earnings (losses) per share is computed similar to basic earnings                      (losses)                      per share except that the denominator is increased to include                      the number                      of additional common shares that would have been outstanding.                      As of July                      31, 2005, there are no outstanding stock options or stock warrants                      that                      would have affected the computation.                                                                                                                                                                                                                                                       |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | **Accounting                      Pronouncements**** **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | In                      April                      2002, the FASB issued SFAS No. 145, "Rescission of FASB Statements                      No. 4,                      44 and 64, Amendment of FASB Statement No. 13, and Technical                      Corrections,"                      which is effective for fiscal years beginning after May 15,                      2002. This                      statement rescinds the indicated statements and amends other                      existing                      authoritative pronouncements to make various technical corrections,                      clarify meanings, or describe their applicability under changed                      conditions, SFAS No. 145 encourages early adoption of the provision                      of                      this standard that rescinds SFAS No. 4, "Reporting Gains and                      Losses from                      Extinguishments of Debt." We do not expect the adoption of                      these                      provisions to have a material impact on our results of operations                      or                      financial position.                                                                              |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | In                      July                      2002, the FASB issued SFAS No. 146, "Accounting for Costs Associated                      with                      Exit or Disposal Activities," which is effective for exit or                      disposal                      activities that are initiated after December 31, 2002. This                      statement                      nullifies Emerging Issues Task Force Issue No. 94-3, "Liability                      Recognition for Certain Employee Termination Benefits and Other                      Costs to                      Exit an Activity (including Certain Costs Incurred in a Restructuring)."                      This statement requires that liabilities associated with exit                      or disposal                      activities initiated after adoption be recognized and measured                      at fair                      value when incurred as opposed to at the date an entity commits                      to the                      exit or disposal plans. We expect the adoption of this new                      standard to                      have an impact on the timing of any future restructuring                      charges. |

----

**FERMAVIR        PHARMACEUTICALS, INC.**

**(FORMERLY        VENUS BEAUTY SUPPLY, INC.)**

**(A        DEVELOPMENT STAGE COMPANY)**

**NOTES        TO        FINANCIAL STATEMENTS**

| **NOTE                2     ** | **CAPITAL                TRANSACTIONS**                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|---------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                    | On                August                16, 2005, the Company initiated a 35.28 for one stock split and restored                the authorized capital stock to 120,000,000 shares, of which 100,000,000                shares are common stock, $.0001 par value and 20,000,000 shares are                preferred stock, $.001 par value. The amendment was effective August                22,                2005. All share and per share data has been restated for this stock                split. |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                    | On                November                22, 2002 the founder of the Company was issued 70,560,000 shares                of common                voting stock at $ .0001 ( par value ) for a subscription receivable                of $                2,000, that was paid in 2004.                                                                                                                                                                                                                     |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                    | In                April                2004, the Company offered 8,820,000 shares of their common stock.                The                offering was made in reliance upon exemption from registration provided                by                Regulation D, Rule 504 of the Securities Exchange Commission. The                offering                raised $ 12,500.                                                                                                                               |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| **NOTE                3**                               | ** ****INCOME                TAX**                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                    | In                February                1992, the Financial Standards Board issued Statement of Financial                Accounting Standards No. 109, Accounting for Income Taxes. Under                SFAS No.                109, deferred assets and liabilities are recognized for the estimated                future tax consequences between the financial statement carrying                amounts                of the existing assets and their respective basis.                           |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                    | Deferred                assets and liabilities are measured using enacted tax rates in effect                for                the year in which temporary differences are expected to be recovered                or                settled. Under SFAS No. 109 the effect on deferred assets and liabilities                of a change in tax rates is recognized in the period that includes                the                enactment date.                                                         |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                    | The                Company                has a net operating loss carry forward of $24,500 which is offset                by a                $24,500 valuation allowance due the uncertainty surrounding the ultimate                realization of these assets. The loss carryforward expires progressively                in 15 years from 2002.                                                                                                                                                       |

|                                               |       | **Year                  Ending**    | ** ** |
|----------------------------------------------------|------------|-------------------------------------|------------|
| ** **                                         | ** ** | **April                  30, 2004** | ** ** | **April                  30, 2003** |   |
| Statutory                  federal income tax rate |       |                                | 34         | % |   | 34 | % |
| Valuation                  allowance               |       |                                | (34        | ) |   | (34 | ) |
| Effective                  tax rate                |       |                                | —    | % |   | — | % |

----

**FERMAVIR      PHARMACEUTICALS, INC.**

**(FORMERLY      VENUS BEAUTY SUPPLY, INC.)**

**(A      DEVELOPMENT STAGE COMPANY)**

**NOTES      TO      FINANCIAL STATEMENT**

| **NOTE                4     ** | **SUBSEQUENT                EVENTS**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|---------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                                                    | On                August                16, 2005 the Company issued 1,829,000 shares of restricted common                stock in                exchange for all of the outstanding shares of capital stock of FermaVir                Research Inc. and issued 1,850,000 options under a newly adopted                Equity                Plan in satisfaction of options that were outstanding to purchase                shares                of FermaVir Research.                                                                                                                                                                                                                                                                                                                                                                                                         |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                                                    | On                August                16, 2005 the Company adopted the FermaVir Pharmaceuticals, Inc. 2005                Equity Compensation Incentive Plan (the “Equity Plan”). The Equity Plan                authorizes the granting of incentive stock options within the meaning                of                Section 422 of the Internal Revenue Code of 1986, as amended,                non–statutory options and restricted stock awards with respect to up                to                7,500,000 shares of common stock.                                                                                                                                                                                                                                                                                                                   |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                                                    | Also,                simultaneously with the acquisition, the Company sold 2,825,000 shares                of                our common stock and 423,750 five year warrants for $2,118,390 in                a                private placement. In addition, the Company redeemed the now equivalent                of                67,680,000 shares of common stock from Panetta Partners, Inc., a                principal                shareholder for $750,000 ($0.011 per share), of which $350,000 was                paid by                issuance of a 6% unsecured promissory note due November 15, 2005.                The                promissory note is due with interest on November 15, 2005 and requires                prepayment of principal from the net proceeds received from the sale                of                securities or borrowing. |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                                                    | On                August                16, 2005 the Company entered into a three year consulting agreement                at a                base annual compensation of $198,000, to be effective November 15,                2005.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                                                    | In                July                2005, the Company entered into a seven year office lease, commencing                September 2005, at an annual rent of approximately $90,000.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |

----

**Item            2:     **
**Management’s Discussion and Analysis            or Plan of Operation**

**Background**

----

**Critical        Accounting Policies**

----

**Results        of Operations**

**Liquidity        and Capital Resources**

**Item        3:     **
**Controls and        Procedures**

----

**PART        II - OTHER INFORMATION**

| **Item                  6:  ** | **Exhibits                  and Reports on Form 8-K**                     |
|------------------------------------------|---------------------------------------------------------------------------|
|                                     |                                                                      |   |
|                                     | The                  following exhibits are filed as part of this report: |
|                                     |                                                                      |   |
|                                     | 31.1                                                       | Certification                  of Chief Executive and Financial Officer of Periodic Report Pursuant                  to                  Rule 13a-14(a) and Rule 15d-14(a). |
|                                     |                                                                      |   |
|                                     | 32.1                                                                      | Certification                  of Chief Executive and Financial Officer pursuant to 18 U.S.C.                  Section                  1350 |

----

**SIGNATURE**

|                                       |                                                                                                                             |                                                    |
|--------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------|
| Dated:                  September 15, 2005 | FERMAVIR                PHARMACEUTICALS, INC.                                                                                    |
|                                  |                                                                                                                        |                                               |
|                                       | By:                                                                                                                    | /s/                Geoffrey W. Henson    |
|                                       |                                                                                                                                  |
|                                       | Geoffrey                  W. Henson, President (Chief                  Executive Officer and Financial                  Officer) |

----