24



                     U.S. Securities and Exchange Commission
                             Washington, D.C. 20549

                                   FORM 10-KSB




[X]     ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934 for the period ended December 31, 2000

[   ]     TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 for the transition period from _______ to _______

COMMISSION FILE NUMBER: 000-24551
---------------------------------

                           TRANS-GLOBAL HOLDINGS, INC.
                           ---------------------------
        (Exact name of small business issuer as specified in its charter)


          Nevada                              84-0365119
          ------                              ----------
(State or other jurisdiction of     (IRS Employer identification
incorporation or organization)                   No.)


               1719 S. Mannheim Road, Des Plaines, Illinois 60018
               --------------------------------------------------
                    (Address of principal executive offices)

                                 (847) 827-5950
                                 --------------
                           (Issuer's telephone number)



Check whether the issuer (1) filed all reports required to be filed by Section13
or  15(d)  of  the  Exchange  Act during the past 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 [  ]

Check  if there is no disclosure of delinquent filers in response to Item 405 of
Regulation  S-B  contained in this form, and no disclosure will be contained, to
the  best  of  registrant's  knowledge,  in  definitive  proxy  or  information
statements  incorporated  by  reference  in  Part  III of this Form 10-KSB or an
amendment  to  this  Form  10-KSB.  [x]

State issuer's revenues for its most recent fiscal year: $-0-


As  of  June  12,  2001  there were 23,493,442 common shares outstanding and the
aggregate  market  value of the common shares (based upon the average of the bid
price ($.07) and the asked price ($.12) reported by brokers through the National
Quotation  Bureau),  held  by  non-affiliates  was  approximately  $1,644,541.

Transitional  Small  Business  Disclosure  Format  (check  one):  Yes[  ]  No[X]

Number of shares of common stock outstanding as of June 12, 2001: 23,493,442
Number of shares of preferred stock outstanding as of June 12, 2001: -0-


                                     PART I
                                     ------

ITEM 1.     DESCRIPTION OF BUSINESS

CORPORATE ORGANIZATIONCORPORATE ORGANIZATION

As  used  herein the term the "Company" refers to Trans-Global Holdings, Inc., a
Nevada  corporation  who was originally incorporated in April 17, 1996 under the
name  Western Union Capital Corporation (WUCC). It was organized for the purpose
of  providing  a number of different financial services, including the financing
of  personal  property,  leasing  and  reinsurance.  The  Company considered the
feasibility  of  acquiring  other  finance companies engaged in the same type of
business.

On  or  about  May  9,  1997  the  Company's  name  was  changed  to  Lionshead
Entertainment  Corporation  (LHRD).  Management  decided  to  enter  the Seniors
Market,  which  was considered to be a highly profitable market. The Company was
in  the  development  stage  of  a  Senior Channel, a Senior Life Style Show and
purchased  the  following  programs:

a.     Gospel  Music  Hour
b.     Big Band Hour
c.     The Low Fat Gourmet
d.     The Senior Travel Show
e.     The Washington Spy
f.     Whatever Happened to?
g.     Senior Health and Fitness Report

The Company did not reach its expectations in the entertainment business and new
management  was  brought  in  to  change  the  direction  of  the  company

On  February  1,  1999  the Company's name was changed to Trans-Global Holdings,
Inc.  (TGHI).  Additionally,  a  new management team was elected. The Company is
currently engaging in the development of investment and consulting in the energy
and  vacation property markets. The initial focus of the company's efforts is to
market those products. The Company will attempt to manage and distribute various
products  and  bring stability and profitability to the corporation. The company
is  a  development  stage entity and there can be no assurance that it will ever
develop  its  business  plan  or  achieve  profitability.

Current  Development  Activities

Energy

The  Company  is  exploring  business  activities  within  the energy production
markets.  Specifically, the Company is researching opportunities with generating
electricity  and  domestic natural gas exploration. The domestic need for fossil
fuels and alternative energy sources has surged in recent years providing strong
business  opportunities  for  new  business  enterprises.  The  Company plans to
position  itself  to  develop  its  business  plan and grow within such markets.
Management  has  been  considering  acquiring  new technology that has been made
available  to  produce electricity. Third parties have invested over $35 million
thus  far  to  establish  the  viability  of such technology. In addition to the
generation  of electricity, the Company has been given an investment opportunity
with  a  Company that is presently working in the natural gas exploration field.
Negotiations are currently underway to secure well positions that will produce a
revenue  stream  for  the  Company.

Vacation  Properties

The  Company  also  has  plans to develop, build and market time-share (vacation
ownership  interest, VOI) communities. Management is currently considering sites
that  could be developed using the VOI concept that is strongly rebounding after
several  years  of  disappointing  growth.  Various  new  partnerships  and sole
ownership  opportunities  are  being explored domestically, in Canada and in the
Caribbean.

Over-the-Counter  Bulletin  Board  Status

The  Company is currently attempting to restore its active trading status on the
Over-the-Counter  Bulletin  Board  market  quotation  system. The Company cannot
project  when  its  application  will  be  approved,  if  ever.

Additional  Financing

The Company may need to raise additional funds to meet operating requirements in
the  future.  If  the Company raises additional funds through issuance of equity
related  or  debt  securities,  such securities may have rights to the Company's
common  stock,  such  as  warrants  or  options.  Shareholders  may  experience
additional  dilution  from  exercise  of  these  equity instruments. The Company
cannot  be  certain that additional financing will be available when required or
at  all.


ITEM 2. PROPERTIES

The Company currently operates from the residence of its Chief Executive Officer
and Chairman. Management considers these facilities to be adequate for its space
requirements for the immediate future. The Company does not and is not obligated
to  pay  rent  for  the  space  it  occupies


ITEM  3.  LEGAL  PROCEEDINGS

The  Company  was  named in a case filed in the United States District Court for
the  Southern District of Florida with the Securities and Exchange Commission as
Plaintiff  vs.  Globus  Group, Inc., Bruce Goreyca A/S/A/ Anthony Dimarco, China
Food  and  Beverage  Co., James Tilton, Trans-Global Holdings, Inc., and Jacques
Verhaak.  The  SEC  issued  an  order  to  refrain from violating the anti-fraud
provisions of the securities law and froze the assets of the Globus Group, Inc.,
Bruce  Goreyca, A/K/A/ Anthony Dimarco. The Company believes it was mentioned in
the  suit  because  Globus and Dimarco were hired to perform certain advertising
and  promotional services for the Company. It is alleged that Globus and Dimarco
submitted false and misleading information regarding the Company that was beyond
the  Company's control. The Company believes that this case will be settled with
no  material  effects  to  the  corporation.


ITEM  4.  SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS

No  matter  was  submitted  to  a  vote  during  the  fourth  quarter.

                                     PART II
                                     -------


ITEM  5.  MARKET  FOR  THE REGISTRANT'S COMMON STOCK AND RELATED SECURITY HOLDER
MATTERS

(a)     The  principal  market  in which the Company's common stock is traded is
the Over-the-Counter market. The table below presents the high and low bid price
for  the  Company's  common  stock  each  quarter  during the past two years and
reflects  inter-dealer  prices,  without retail markup, markdown, or commission,
and  may  not  represent actual transactions. The Company obtained the following
information  from  brokers  who  make  a  market  in  the  Company's securities.

                       Bid
                       ---
Quarter Ended     Low      High
-------------     ---      ----

03/31/99          $1.50   $1.81
06/30/99           1.25    3.25
09/30/99            .31    1.50
12/31/99            .18     .72
03/31/00            .20     .51
06/30/00            .07     .64
09/30/00            .05     .15
12/31/00            .01     .20

(b) Holders. The approximate number of holders of record of the Registrant's
Common Stock as of June 12, 2001 was 28.

(c) The Registrant has paid no dividends from inception to date and does not
currently intend to do so.


ITEM 6.     MANAGEMENT'S DISCUSSION AND ANALYSIS

Selected financial data
                              Year Ended December 31
                              ----------------------
                               2000          1999
                               ----          ----
Net Sales              $        -0-     $     -0-

Net Loss                 (1,103,412)     (96,728)
Net Loss per
Common Share                   (.04)        (.01)
Weighted Average
Common Shares Outstanding  23,646,220  18,410,299

                                 As of  December 31,
                                 -------------------
                               2000          1999
                               ----          ----
Total Assets                $   644     $ 1,508,272
Working Capital                 644       1,508,272
Shareholders' Equity (Deficit)(5,140)     1,508,272

No dividends have been declared or paid for any of the periods presented.

Liquidity and Capital Resources

Years  ended  December  31,  2000  and  December  31,  1999

Cash  flows  used  in  operations  were  a  negative  $10,128 for the year ended
December  31, 2000, and a negative $26,728 for the year ended December 31, 1999.
Negative  cash  flows from operating activities for the years ended December 31,
2000  and  1999  are primarily attributable to losses from operations, partially
offset  by  the  issuances  of  the  Company's  common  stock.

Cash  flows  generated  from financing activities were $2,500 for the year ended
December 31, 2000 and $35,000 for the year ended December 31, 1999. The positive
cash  flows  were primarily due to proceeds from a shareholder loan and proceeds
from the private placement of common stock during 2000 and 1999 that were $2,500
and  $35,000,  respectively.

The  Company  has funded its cash needs from inception through December 31, 2000
with  a  series  of  debt and equity transactions, including private placements.

The  shareholder loan at December 31, 2000 consists of a loan from the Company's
Chief  Executive  Officer  toward  the Company's general operating expenses. The
loan  is  not  evidenced  by  a  written  promissory note, but rather is an oral
agreement  between both parties. The loan is unsecured, bears interest at 6% per
annum  and  is  due  on  demand.

The  subscriptions  receivable at December 31, 2000 consists of 5,000,000 shares
of  common  stock  subscribed by five unrelated investors at $.20 per share. The
subscription  payments  are  due six months after the Company re-achieves active
trading  status  on  the  Over-the-Counter  Bulletin Board (OTC BB). The Company
anticipates  collecting payment in full during the year 2001, however, there can
be  no assurance that the Company will gain its active trading status on the OTC
BB  and  that  the  subscriptions will be collected. Failure to receive proceeds
from  the common stock subscriptions could have a material adverse effect on the
Company.  In addition, failure to realize such proceeds may force the Company to
seek  capital  elsewhere  on  less favorable terms or curtail its business plan.

The  Company  will  substantially  rely  on  the  existence  of revenue from its
proposed  operations  and proceeds from its capital raising efforts. The Company
projects  that  current  and  projected  revenues  and capital reserves will not
sustain  it  for  12  months.  If  the projected revenues of its operations fall
short  of  needed  capital,  the Company will not be able to sustain its capital
needs for more than six months.  The Company will then need to obtain additional
capital through equity or debt financing to sustain operations for an additional
year.  A  lack  of significant revenues beginning in the first half of 2001 will
significantly  affect  the  cash  position  of  the Company and move the Company
toward  a  position where the raising of additional funds through equity or debt
financing  will  be  necessary.

On  a  long-term  basis, liquidity is dependent on commencement and expansion of
operations,  receipt  of  revenues,  additional  infusions  of  capital and debt
financing.  The  Company  is  considering  launching  a wide scale marketing and
advertising  campaign.  The  current  Company's  capital  and  revenues  are not
sufficient  to  fund  such  a  campaign. If the Company chooses to launch such a
campaign  it  well require substantially more capital. If necessary, the Company
plans to raise this capital through an additional follow-on stock offering.  The
funds  raised  from  this  offering  will  be  used  to  develop and execute the
marketing  and  advertising  strategy  that  may  include the use of television,
radio,  print and Internet advertising.  However, there can be no assurance that
the  Company  will  be able to obtain additional equity or debt financing in the
future,  if  at  all.  If the Company is unable to raise additional capital, the
growth  potential  will  be  adversely affected.  Additionally, the Company will
have  to  significantly  modify  its  plans.

Results  of  Operations
-----------------------

Sales

The  Company  did  not  have  revenues for the years ended December 31, 2000 and
1999.  Additionally,  the  Company  remains in a development stage as of May 30,
2001.

Income  /  Losses

Net  losses  for  the  year ended December 31, 2000 increased to $1,013,412 from
$96,728  for  the  year  ended  December  31,  2000,  an  increase  of 948%. The
substantial increase in losses was primarily attributable to a non-cash bad debt
provision in the amount of $2,000,000 made in connection with the Company's sale
of  its  interest  in  Thermal-Systems  Worldwide,  Inc.  The Company received a
promissory  note in the amount of $2,000,000 from American Global Commerce, Inc.
(AGC)  that  does  not bear interest and is due on November 15, 2001. Due to the
limited credit history of AGC, the Company has reserved the entire amount to bad
debt  provision  pending collection of the note. Should AGC default on the note,
the  entire  interest of Thermal-Systems Worldwide, Inc. will be returned to the
Company.

The Company expects to continue to incur losses at least through fiscal 2001 and
there  can  be  no  assurance  that  the  Company  will  achieve  or  maintain
profitability  or  that  its  revenues  can  be  sustained  in  the  future.

Expenses

Total  operating  expenses  for  the  year ended December 31, 2000, increased to
$2,013,412  from  $96,728 for the year ended December 31, 1999.  The increase in
total  expenses  was  primarily  attributable  to  the  $2,000,000  in  bad debt
provision  on  the  promissory  note  from  AGC  as discussed above. The Company
realized  decreases in advertising and professional fees of $10,853 and $76,224,
respectively.  The  decrease in these expenses was primarily attributable to the
Company  establishing  itself  as  a  'reporting  company'  under the Securities
Exchange  Act  of 1934 during 1999. In 2000, the Company's professional expenses
were  primarily  associated with re-gaining active trading status on the OTC BB.

The  Company  expects  increases in overall expenses through 2001 as the Company
moves  toward increasing development and marketing of its products and services.

Impact  of  Inflation

The  Company  believes  that inflation has had a negligible effect on operations
over  the  past  two years. The Company believes that it can offset inflationary
increases  in  the  cost  of  labor  by increasing sales and improving operating
efficiencies.

Trends,  Events,  and  Uncertainties

Demand for the Company's products and services will be dependent on, among other
things,  market acceptance of the Company's concept, the quality of its products
and  general  economic  conditions, which are cyclical in nature.  Inasmuch as a
major  portion  of  the  Company's planned activities is the receipt of revenues
from  the  sales  of  its  products,  the  Company's  business operations may be
adversely  affected  by  the  Company's  competitors  and prolonged recessionary
periods.



<PAGE>

ITEM  7.  FINANCIAL  STATEMENTS

                                TABLE OF CONTENTS


                                                   PAGE(S)
                                                   -------

REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS      8

FINANCIAL STATEMENTS:

     Balance Sheet                                      9

     Statements of Operations                          10

     Statement of Stockholders' Deficit                11

     Statements of Cash Flows                          12

     Notes to Financial Statements                  13-16




























BONGIOVANNI  &  ASSOCIATES
Certified  Public  Accountants
                                                           555 S. Powerline Road
                                                    Pompano Beach, Florida 33069
                                                    ============================
(954) 975-9601 Office
(954) 979-6695 Fax

To the Board of Directors and Stockholders:
Trans-Global Holdings, Inc.
1719 S. Mannheim Road
Des Plaines, IL 60018

We have audited the accompanying balance sheet of Trans-Global Holdings, Inc. (a
development stage company) as of December 31, 2000 and the related statements of
operations, stockholders' deficit, and cash flows for the year then ended. These
financial  statements  are  the  responsibility of the Company's management. Our
responsibility  is  to express an opinion on these financial statements based on
our  audit.  The  financial statements for the year ended December 31, 1999 were
audited by another certified public accounting firm whose report dated April 27,
2000  expressed an opinion which reflected substantial doubt as to the Company's
ability  to  continue  as  a  going  concern.

We conducted our audit in accordance with generally accepted auditing standards.
Those  standards require that we plan and perform the audit to obtain reasonable
assurance  about  whether  the  financial  statements  are  free  from  material
misstatement.  An audit includes examining, on a test basis, evidence supporting
the  amounts and disclosures in the financial statements. An audit also includes
assessing  the  accounting  principles  used  and  significant estimates made by
management,  as well as evaluating the overall financial statement presentation.
We  believe  that  our  audit  provides  a  reasonable  basis  for  our opinion.

In  our  opinion,  the  financial  statements referred to in the first paragraph
present fairly, in all material respects, the financial position of Trans-Global
Holdings,  Inc.  (a  development  stage company) as of December 31, 2000 and the
results  of  its  operations  and  its  cash  flows  for  the year then ended in
conformity  with  generally  accepted  accounting  principles.

 The  accompanying consolidated financial statements have been prepared assuming
the Company will continue as a going concern. The Company has suffered recurring
losses  and  has  yet  to generate an internal cash flow that raises substantial
doubt  about  its  ability to continue as a going concern. Management's plans in
regard to these matters are described in Note F. The financial statements do not
include  any adjustments that might result from the outcome of this uncertainty.

June 5, 2001

/s/ Bongiovanni & Associates







<TABLE>
<CAPTION>


                           TRANS-GLOBAL HOLDINGS, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                                  BALANCE SHEET
                               AT DECEMBER 31, 2000


                                     ASSETS
                                     ------


<S>                                                                 <C>

CURRENT ASSETS
------------------------------------------------------------------
  Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $       644
  Note Receivable, Net - Note D. . . . . . . . . . . . . . . . . .          -0-

    TOTAL ASSETS . . . . . . . . . . . . . . . . . . . . . . . . .  $       644
                                                                    ============

LIABILITIES AND STOCKHOLDERS' DEFICIT
------------------------------------------------------------------

CURRENT LIABILITIES
------------------------------------------------------------------
  Accounts Payable and Accrued Expenses. . . . . . . . . . . . . .  $     3,284
  Due Related Party - Note E . . . . . . . . . . . . . . . . . . .        2,500
    TOTAL CURRENT LIABILITIES. . . . . . . . . . . . . . . . . . .        5,784

STOCKHOLDERS' DEFICIT
------------------------------------------------------------------
  Common Stock ($.005 par value, 50,000,000 shares authorized:
   23,493,442 issued and outstanding). . . . . . . . . . . . . . .      117,467
  Common Stock Subscribed (5,000,000 shares at $.20 per share) . .       25,000
  Preferred Stock ($.001 par value, 25,000,000 shares authorized:
   none issued and outstanding). . . . . . . . . . . . . . . . . .          -0-
  Additional Paid-in-Capital . . . . . . . . . . . . . . . . . . .    2,056,794
  Subscriptions Receivable . . . . . . . . . . . . . . . . . . . .   (1,000,000)
  Deficit Accumulated During Development Stage . . . . . . . . . .   (1,204,401)
    TOTAL STOCKHOLDERS' DEFICIT. . . . . . . . . . . . . . . . . .       (5,140)

    TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT. . . . . . . . . .  $       644
                                                                    ============
</TABLE>







         See notes to audited financial statements and auditors' report

<TABLE>
<CAPTION>


                                TRANS-GLOBAL HOLDINGS, INC.
                               (A DEVELOPMENT STAGE COMPANY)
                                  STATEMENTS OF OPERATIONS
                       FOR THE YEARS ENDED DECEMBER 31, 2000 AND 1999

                                                                            Cumulative-to
                                                                             date since
                                                       2000          1999     inception*
<S>                                                <C>           <C>           <C>

OPERATING EXPENSES:
-------------------------------------------------
  Advertising . . . . . . . . . . . . . . . . . .  $     1,150   $    12,003   $    15,008
  Bad Debt Provision on Promissory Note - Note D.    2,000,000           -0-     2,000,000
  General and Administrative. . . . . . . . . . .        3,229           337        72,345
  Professional and Consulting Fees. . . . . . . .        5,058        81,282       102,544
  Travel. . . . . . . . . . . . . . . . . . . . .        3,975         3,106        14,504
    TOTAL EXPENSES. . . . . . . . . . . . . . . .    2,013,412        96,728     2,204,401

    OPERATING LOSS. . . . . . . . . . . . . . . .   (2,013,412)      (96,728)   (2,204,401)

OTHER INCOME:
-------------------------------------------------
  Gain on Sale of Investment - Note D . . . . . .    1,000,000           -0-     1,000,000
    TOTAL OTHER INCOME. . . . . . . . . . . . . .    1,000,000           -0-     1,000,000

    LOSS BEFORE TAXES . . . . . . . . . . . . . .   (1,013,412)      (96,728)   (2,204,401)

    INCOME TAX (PROVISION)
     BENEFIT. . . . . . . . . . . . . . . . . . .          -0-           -0-           -0-

    NET LOSS. . . . . . . . . . . . . . . . . . .  $(1,013,412)  $   (96,728)  $(2,204,401)
                                                   ============  ============  ============
  Net Loss Per Common Share
  Basic & Fully Diluted . . . . . . . . . . . . .  $     (0.04)  $     (0.01)  $     (0.18)
                                                   ============  ============  ============
  Weighted Average Common
  Shares Outstanding. . . . . . . . . . . . . . .   23,646,220    18,410,299    12,545,100
                                                   ============  ============  ============
</TABLE>



     *Not covered by auditors' report




         See notes to audited financial statements and auditors' report

<TABLE>
<CAPTION>


                                TRANS-GLOBAL HOLDINGS, INC.
                               (A DEVELOPMENT STAGE COMPANY)
                             STATEMENT OF STOCKHOLDERS' DEFICIT
                       FOR THE YEARS ENDED DECEMBER 31, 2000 AND 1999

                                                                                 Deficit
                                                                                Accumulated
                                             Common     Common   Additional      During
                                             Shares     Stock     Paid-in       Development
                                             ('000)     $.001 Par Capital        Stage
<S>                                          <C>      <C>         <C>          <C>
Balances, January 1, 1999 . . . . . . . . .   9,090      45,451    1,023,810       (94,261)

Issuance of common stock for services . . .  14,000      70,000          -0-           -0-

Issuance of common stock under Regulation
D private placement offering. . . . . . . .      70         350       34,650           -0-

Issuance of common stock in exchange for
private investments . . . . . . . . . . . .     500       2,500    1,497,500           -0-

Net loss for the year . . . . . . . . . . .     -0-         -0-          -0-       (96,728)
                                            -----------------------------------------------
Balances, January 1, 2000 . . . . . . . . .  23,660     118,301    2,555,960      (190,989)

Retirement of common stock pursuant
to investment rescinding agreement - Note D    (167)       (834)    (499,166)          -0-

Net loss for year . . . . . . . . . . . . .     -0-         -0-          -0-    (1,013,412)

Balances, December 31, 2000 . . . . . . . .  23,493   $ 117,467   $2,056,794   $(1,204,401)
                                            ===============================================
</TABLE>












         See notes to audited financial statements and auditors' report

<TABLE>
<CAPTION>



                                TRANS-GLOBAL HOLDINGS, INC.
                               (A DEVELOPMENT STAGE COMPANY)
                                  STATEMENTS OF CASH FLOWS
                       FOR THE YEARS ENDED DECEMBER 31, 2000 AND 1999

                                                                             Cumulative to
                                                                               date since
                                                        2000         1999      inception*
<S>                                                 <C>           <C>          <C>

CASH FLOWS FROM OPERATING ACTIVITIES:
--------------------------------------------------
  Net loss . . . . . . . . . . . . . . . . . . . .  $(1,013,412)  $  (96,728)  $(1,204,401)
  Adjustments to reconcile net loss to net
  cash used in operating activities:
    Common stock issued for services . . . . . . .          -0-       70,000        70,000
    Bad debt provision on promissory note. . . . .    2,000,000
    Non-cash gain on sale of investment. . . . . .   (1,000,000)         -0-      1,000,000
    Increase in operating liabilities:
      Accounts payable and accrued
      expenses . . . . . . . . . . . . . . . . . .        3,284          -0-         3,284
      NET CASH USED IN
      OPERATING ACTIVITIES . . . . . . . . . . . .      (10,128)     (26,728)     (131,117)

CASH FLOWS FROM FINANCING ACTIVITIES:
--------------------------------------------------
  Proceeds from sales of common stock. . . . . . .          -0-       35,000       129,261
  Proceeds from shareholder loan . . . . . . . . .        2,500          -0-         2,500
      NET CASH PROVIDED BY
      FINANCING ACTIVITIES . . . . . . . . . . . .        2,500       35,000       131,761

      NET INCREASE (DECREASE) IN
      CASH AND CASH EQUIVALENTS. . . . . . . . . .       (7,628)       8,272           644

CASH AND CASH EQUIVALENTS:
--------------------------------------------------
      Beginning of year. . . . . . . . . . . . . .        8,272          -0-           -0-
      End of year. . . . . . . . . . . . . . . . .  $       644   $    8,272   $       644
                                                    ------------  -----------  ------------

NON-CASH FINANCING ACTIVITIES:
--------------------------------------------------
  Common stock issued for services . . . . . . . .  $       -0-   $   70,000   $    70,000
                                                    ============  ===========  ============
  Incurrence of promissory note in connection with
  sale of investment . . . . . . . . . . . . . . .  $ 2,000,000   $      -0-   $ 2,000,000
                                                    ============  ===========  ============
  Common stock retired . . . . . . . . . . . . . .  $   500,000   $      -0-   $   500,000
                                                    ============  ===========  ============
  *Not covered by auditors' report
</TABLE>



         See notes to audited financial statements and auditors' report


                           TRANS-GLOBAL HOLDINGS, INC.
                          Notes To Financial Statements
                      For the Year Ended December 31, 2000
                      ====================================

NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
---------------------------------------------------

Background  -  Trans-Global Holdings, Inc. (the Company) was organized under the
laws  of  the  State  of  Nevada  on  April  17,  1996  as Western Union Capital
Corporation  (WUCC).  On  May  9, 1997 the Company changed its name to Lionshead
Entertainment  Corporation  (LHED)  and  pursued  the  development  of marketing
entertainment  to Senior Citizens. The Company ceased operations during 1997 and
remained  inactive until on or about January 1, 1999 when the Company received a
new  management  team  and  changed  its name to Trans-Global Holdings, Inc. The
Company  commenced  its  current  developmental  activities  at  that  time.

The  company is a developing stage entity and is primarily engaged in investment
and  consulting  in  the construction, energy and vacation property markets. The
initial focus of the Company's efforts is to market those products and services.
The  Company  has  prior  experience  in  conducting  and  managing  the various
products.

Basis  of  Presentation  -  The financial statements included herein include the
-----------------------
accounts  of the Trans-Global Holdings, Inc. prepared under the accrual basis of
accounting.

Cash  and  Cash  Equivalents - For purposes of the Statements of Cash Flows, the
----------------------------
Company  considers  liquid investments with an original maturity of three months
or  less  to  be  cash  equivalents.

Management's  Use  of  Estimates  -  The  preparation of financial statements in
--------------------------------
conformity  with generally accepted accounting principles requires management to
make  estimates  and  assumptions that effect the reported amounts of assets and
liabilities,  disclosures  of  contingent  assets and liabilities at the date of
financial  statements  and  the reported amounts of revenues and expenses during
the  reporting  period.  Actual  results  could  differ  from  those  estimates.

Net  Loss  per  Common  Share - Net loss per common share has been calculated by
-----------------------------
dividing  the  net loss for each period presented by the weighted average number
of  common  shares  for  the  respective  period.

Income  Taxes  -  Income  taxes  are  provided  in  accordance with Statement of
-------------
Financial  Accounting  Standards  No. 109 (SFAS No. 109), "Accounting for Income
Taxes."  A  deferred  tax  asset  or  liability  is  recorded  for all temporary
differences  between  financial  and  tax  reporting  and  net  operating  loss
carry-forwards.











                           TRANS-GLOBAL HOLDINGS, INC.
                          Notes To Financial Statements
                      For the Year Ended December 31, 2000
                      ====================================

NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT')
-----------------------------------------------------------

Deferred tax assets are reduced by a valuation allowance when, in the opinion of
management,  it is more likely than not that some portion or all of the deferred
tax asset will not be realized. Deferred tax assets and liabilities are adjusted
for  the  effect  of  changes  in  tax  laws and rates on the date of enactment.

Comprehensive Income (Loss) - The Company adopted Financial Accounting Standards
---------------------------
Board  Statement  of  Financial  Accounting  Standards  No.  130,  "Reporting
Comprehensive Income", which establishes standards for the reporting and display
of  comprehensive  income  and its components in the financial statements. There
were  no  items  of comprehensive income (loss) applicable to the Company during
the  years  covered  in  the  financial  statements.

NOTE B - RECENT ACCOUNTING PRONOUNCEMENTS
-----------------------------------------

In  June  of  1998, the Financial Accounting Standards Board issued Statement of
Financial  Accounting  Standards  No. 133, Accounting for Derivative Instruments
and  Hedging  Activities,  which  the  Company  has  adopted.  The Statement, as
deferred by FASB No. 137, is effective for fiscal years beginning after June 15,
2000.  It  establishes  standards  for  accounting  and reporting for derivative
instruments  and hedging activities. Statement of Financial Accounting Standards
No.133 and No. 137 do not currently impact the Company's financial statements as
there  are  no  derivative  instrument  holdings.

In  March,  1998, the American Institute of Certified Public Accountants (AICPA)
issued  Statement  of  Position  (SOP)  No.  98-1  "Accounting  for the Costs of
Computer  Software  Developed  or  Obtained for Internal Use", which establishes
guidelines  for  the accounting for the costs of all computer software developed
or  obtained  for internal use. The Company adopted this SOP but the adoption of
the  SOP  did  not  have  any  impact  on  the  Company's  financial statements.

In  April  1998,  the AICPA issued SOP 98-5, "Reporting on the Costs of Start-Up
Activities".  The SOP is effective for fiscal years beginning after December 15,
1998. The SOP requires costs of start-up activities and organization costs to be
expensed as incurred. The Company has adopted SOP 98-5, however, the adoption of
SOP  98-5  did not have a material impact on the Company's financial statements.

The  FASB  has  issued  SFAS No. 134, "Accounting for Mortgage-Backed Securities
Retained  after the Securitization of Mortgage Loans Held for Sale by a Mortgage
Banking  Enterprise,"  an  amendment of FASB Statement No. 65, which the Company
has  not  been  required  to  adopt  as  of  March  31,  2000.








                           TRANS-GLOBAL HOLDINGS, INC.
                          Notes To Financial Statements
                      For the Year Ended December 31, 2000
                      ====================================

NOTE  B  -  RECENT  ACCOUNTING  PRONOUNCEMENTS  (CONT')
-------------------------------------------------------

Statement No. 65, as amended by FASB Statements No. 115, "Accounting for Certain
Investments  in  Debt  and  Equity  Securities",  and  No.  125, "Accounting for
Transfer  and Servicing of Financial Assets and Extinguishments of Liabilities",
require  that  after  the  securitization  of  a mortgage loan held for sale, an
entity  engaged  in  mortgage  banking  activities  classify  the  resulting
mortgage-backed  security  as  a trading security. This statement further amends
Statement  No.  65  to require that after the securitization of mortgage banking
activities  classify  the resulting mortgage-backed securities or other retained
interests  based  on  its  ability and intent to sell or hold those investments.
This  Statement  is  effective for fiscal years after December 15, 1998 and does
not  have  a  material  impact  on  the  Company.

NOTE C - SUBSCRIPTIONS RECEIVABLE
---------------------------------

At December 31, 2000, the Company has outstanding common stock subscriptions for
5,000,000  shares  subscribed by five unrelated investors at a purchase price of
$.20 per share.  Payments in full for the subscriptions are due six months after
the  Company  re-achieves active trading status on the Over-the-Counter Bulletin
Board  (OTC BB). The subscription agreements do not provide for interest charges
on  outstanding  balances.

NOTE D -NOTE RECEIVABLE
-----------------------

During  the  year  ended December 31, 2000, the Company sold its 40% interest in
Thermal-Systems  Worldwide,  Inc.  to  an  unrelated  party  in  exchange  for a
$2,000,000  promissory  note.  The  note  does  not bear interest and matures on
November  15,  2001.  The  principal  balance  is due in one lump sum payment at
maturity.  The  unrelated  party  does  not presently have an established credit
history  or  the  liquid assets to convert the promissory note. Accordingly, the
Company  has  reserved  the  entire amount as uncollectible pending maturity.  A
default  provision  in  the  note states that should the debtor default on their
payment obligations, the entire interest in Thermal-Systems Worldwide, Inc. will
be  returned  to  the  Company.

On or about December 14, 2000, the Company's Board of Directors voted to rescind
the  investment  stake  it  held in two privately held companies the Company had
acquired  during  1999.  Pursuant  to  a rescission agreement, the investment in
Business Computers, Inc. and BCAR, Ltd. was returned in exchange for the 166,667
of  the  Company's  common  stock  previously issued at the time of acquisition.





                           TRANS-GLOBAL HOLDINGS, INC.
                          Notes To Financial Statements
                      For the Year Ended December 31, 2000
                      ====================================

NOTE E - DUE RELATED PARTY
--------------------------

The amount due related party at December 31, 2000 consists of advances made on
behalf of the Company by the Company's Chief Executive Officer for general
operating expenses. The balance bears an interest rate of 6% per annum and is
due on demand. The Company's Chief Executive Officer has elected to waive
accrued interest as of December 31, 2000 and the effects of imputed interest are
immaterial to the financial statements taken as a whole.

NOTE F - GOING CONCERN
----------------------

As  shown  in  the  accompanying  financial statements, the Company has incurred
significant  losses  from  operations  and  other circumstances which has placed
substantial doubt as to whether the Company can continue as a going concern. The
Company ceased normal operation during 1997 and has not since reported revenues.
The  ability  of  the  Company  to  continue  as a going concern is dependent on
developing its business plan and obtaining new capital. Management has enacted a
plan  of  seeking  out strategic relationships and capital raising entities that
may  add  value  to  the  Company  and  its  shareholders.




ITEM 8. CHANGES WITH AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE

The  firm  Nelson  Jimenez,  CPA,  audited the financial statements for the year
ended  December 31, 1999. On or about May 25, 2001, the Company dismissed Nelson
Jimenez  and  engaged Bongiovanni & Associates to audit the financial statements
for  the year ended December 31, 2000. There were no disagreements on accounting
issues  and  financial  disclosures  during  either  period.

ITEM 9. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

(a)     Identification of Directors

The following information, as of June 12, 2001 is furnished with respect to each
Director:

                             Year First
                             Elected as
Name of Director     Age     Director     Position with Company
----------------     ---     --------     ---------------------

John La Monica       67      1999         Chairman and CEO
Jacques Verhaak      55      1999         President and Director

All Directors serve for one-year terms, which expire at the annual shareholders
meeting in 2001.

The following information, as of June 12, 2001 is furnished with respect to each
officer:

(b)     Identification of Executive Officers

Name of Officer     Age     Position   (Date Elected To Position)
---------------     ---     -------------------------------------

John La Monica      67     Chairman and CEO (1999)
Jacques Verhaak     55     President and Director (1999)
Joanne La Monica    56     Secretary (1999)

All officers serve at the pleasure of the Board.

There are no arrangements or understandings pursuant to which any of them were
elected as officers.

John F. La Monica, Chief Executive Officer and Chairman of the Board

Education: B.S.C. Accounting, 1957 Roosevelt University

Mr. La Monica has managed large diversified business. Has a B.S.C. in Accounting
and  has  spent  the  last  45  years  as  President and CEO of F.M.S.C., Inc. a
Management  Consulting  Firm. He also held Senior Management positions with Omni
Financial  Resources,  Inc.  a  mortgage  banking  company;  Arlington  Ventures
Corporation,  a  BVI  company  handling  investments  and  consulting investment
services;  Romer  Cowell,  Inc., a company designed, constructed and built large
development  for  substantial  investors, seeking depreciation deductions. First
American  Foods,  Inc., a Food processing plant; and, ANJ Manufacturing, Inc., a
company  that  manufactured  locomotive  parts.

Jacques Verhaak, President and Director

Education: Bachelor of Science Degree from Cornell University

Mr. Verhaak has held numerous junior and senior management positions in both the
Corporate  and  Private  Business  Sectors.  Numerous  consulting  projects have
broadened  Mr.  Verhaak's  overall  experience  in  areas  such  as  television
production,  through  the  development  of  the  Senior  Channel;  real  estate
development  through  research  in diversified housing and management challenges
through  taking  various  companies  through  restructuring.

Joanne M. La Monica, Secretary

Mrs.  La  Monica  has  served  as office manager for a large law firm and also a
large  finance  company. She has also performed as a meeting planner for a large
international  firm,  responsible  for  budgeting,  cost  controls  as  wells as
expenditure  controls.

There have been no events under any bankruptcy act, no criminal proceedings and
no judgments or injunctions material to the evaluation of the ability and
integrity of any director or executive officer during the past 5 years.

Section 16(a) Beneficial Ownership Reporting Compliance

Based on information furnished to Registrant, no officer, director, or ten
percent shareholder failed to file on a timely basis reports on Forms 3, 4, or 5
during the most recent two fiscal years.

Family Relationships

Mr. John La Monica is married to Mrs. Joanne La Monica

ITEM 10. EXECUTIVE COMPENSATION

         Summary Compensation Table

The following table sets forth in summary form the compensation received during
each of the Company's last three completed fiscal years by the Chief Executive
Officer and President of the Company. No executive officer of the Company,
including the Chief Executive Officer and President, received total salary and
bonus exceeding $100,000 during any of the last three fiscal years.


Summary Compensation Table
<TABLE>
<CAPTION>



<S>         <C>      <C>           <C>          <C>      <C>      <C>       <C>
            Other    Restricted                 Restricted
Name and .  Fiscal   Annual        Stock        Stock          LTIP     Stock
 Position.  Year     Salary        Bonuses      Compensation   Awards   Options   Bonuses
            -------  ------------  -----------  ------------   -------  --------  -------
                (1)           (2)      (3)       (7)      (4)      (5)          (6)
            -------  ------------  -----------  ------------   -------  --------  -------
John La. .    2000   $       -0-          -0-      -0-      -0-       -0-       -0-
 Monica, .    1999   $       -0-          -0-      -0-    5,000       -0-       -0-
 CEO . . .    1998   $       -0-          -0-      -0-      -0-       -0-       -0-
----------  -------  ------------  -----------  -------  -------  --------  -------
Jacques. .    2000   $       -0-          -0-      -0-      -0-       -0-       -0-
 Verhaak,.    1999   $       -0-          -0-      -0-    5,000       -0-       -0-
 President    1998   $       -0-          -0-      -0-      -0-       -0-       -0-
----------  -------  ------------  -----------  -------  -------  --------  -------
Joanne La.    2000   $       -0-          -0-      -0-      -0-       -0-       -0-
Monica,. .    1999   $       -0-          -0-      -0-      -0-       -0-       -0-
 Secretary    1998   $       -0-          -0-      -0-      -0-       -0-       -0-
----------  -------  ------------  -----------  -------  -------  --------  -------
</TABLE>




(1)     The  dollar  value  of  base  salary  (cash  and  non-cash)  received.
Information  on  the  stock-based  compensation can be found in the accompanying
audited  financial  statements.

(2)     The  dollar  value  of  bonus  (cash  and  non-cash)  received.

(3)     During  the  periods  covered  by  the  Summary  Compensation Table, the
Company  did  not  pay any other annual compensation not properly categorized as
salary  or  bonus, including perquisites and other personal benefits, securities
or  property.

(4)     During  the  periods  covered  by  the  Summary  Compensation Table, the
Company  did  not  make  any  award  of  restricted  stock.

(5)     The  Company  has  had  no  stock  option  plans.

(6)     The  Company  currently  has  no  Restricted  Stock  Bonus  Plans.

(7)     No  other  compensation

Compensation of Directors

The  Company does not currently have any compensation plans for its non-employee
directors.




ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

(a)     Security Ownership of Certain Beneficial Owners

All persons known by the Registrant to own beneficially more than 5% of any
class of the Company's outstanding stock on June 12, 2001, are listed below:

<TABLE>
<CAPTION>



<S>                      <C>                     <C>         <C>         <C>
                                                                          %
                         Nature of               Current               Owned
Title of Class. . . . .  Name and Address        # Shares    Ownership   (w)
-----------------------  ----------------------  ----------  ----------  ---
                         John La Monica
Common Stock, . . . . .  1719 S. Mannheim Road
 $.005 Par Value. . . .  Des Plaines, IL 60018   11,000,000  Direct      47%
-----------------------  ----------------------  ----------  ----------  ---
Common Stock, . . . . .  Jacques Verhaak
 $.005 Par Value. . . .  1719 S. Mannheim Road
                         Des Plaines, IL 60018   10,000,000  Direct      43%
-----------------------  ----------------------  ----------  ----------
</TABLE>



(w) On June 12, 2001, there were 23,493,442 shares of common stock issued and
outstanding.

(b)     Security Ownership of Management

The  following  table sets forth the number of shares owned beneficially on June
12,  2001,  by  each  Director  and  by  all  Officers and Directors as a group.
Information as to the beneficial ownership is based upon statements furnished to
the  Company  by  such  persons.
<TABLE>
<CAPTION>



<S>                 <C>                         <C>          <C>        <C>
                    Nature of                   Current                  %
Title of Class . .  Name and Address            # Shares     Ownership  Owned (w)
------------------  --------------------------  -----------  ---------  ---------
                    John La Monica
Common Stock,. . .  1719 S. Mannheim Road
 .005 Par Value. .   Des Plaines, IL 60018        11,000,000  Direct           47%
------------------  --------------------------  -----------  ---------  ---------
  Jacques Verhaak
Common Stock,. . .  1719 S. Mannheim Road
 .005 Par Value. .   Des Plaines, IL 60018        10,000,000  Direct           43%
------------------  --------------------------  -----------  ---------  ---------
Common Stock,. . .  All Officers and Directors
 $.005 Par Value .  as a Group                   21,000,000  Direct           90%
------------------  --------------------------  -----------  ---------  ---------
</TABLE>




(w) On June 12, 2001, there were 23,493,442 shares of common stock issued and
outstanding.





(c)     Changes in Control

The Company knows of no contractual arrangements which may at a subsequent date
result in a change of control in the Company.


ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

(a)     Transactions with management and others
None involving more than $60,000.

(b)     Parents of Small Business Issuer
None.

(c)     Transactions with Promoters
None.

ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K

(a)     Financial Statements
1. The following financial statements of Trans-Global Holdings, Inc. are
included in Part II, Item 7:

Independent Auditors' Report                            8
Balance Sheet-December 31, 2000                         9
Statements of Operations - years ended
     December 31, 2000 and 1999          .             10
Statements of Cash Flows - years ended
     December 31, 2000 and 1999       .                11
Statements of Stockholders Equity (Deficit)- years ended
     December 31, 2000 and 1999                        12
Notes to Financial Statements                       13-16

     2. Exhibits
3. Articles of incorporation and bylaws are incorporated by reference to Exhibit
No.  1  of  Form  10-SB  filed  January  2001.


(b)     Reports on Form 8-K
There were no reports on Form 8-K for the three months ended December 31, 2000.



                           --Signature Page Follows--

                                   SIGNATURES
                                   ----------

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


                                TRANS-GLOBAL HOLDINGS, INC.
                                ---------------------------
                                        (Registrant)
Date:  June 12, 2001


                                        /s/ John La Monica
                                        ------------------
                                            John La Monica
                                   Chief Executive Officer

/s/ Jacques Verhaak
-------------------
Jacques Verhaak
President and Director

/s/ Joanne La Monica
--------------------
Joanne La Monica
Secretary