SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

_________________________

FORM 10-KSB

GENERAL FORM FOR REGISTRATION OF SECURITIES
PURSUANT TO SECTION 12(b) OR 12(g)
OF THE SECURITIES EXCHANGE ACT OF 1934
_______________________


LARGO VISTA GROUP, LTD.
(Exact name of Registrant as specified in its Charter)

Nevada                                   76-0434-540
(State of Incorporation)           (IRS Employer ID No.)

4570 Campus Drive, Newport Beach, California 92660
(Address of principal executive offices)

(949) 252-2180
(Registrant's telephone number)

Securities to be registered pursuant to Section 12(g) of the Act:
212,382,555 Common shares

Securities registered pursuant to Section 12(b) of the Act:  None


Title of Each Class                     Name of Each Exchange
to be Registered                        on which registered
Common Stock, $0.001 par value         - Pink Sheets

<PAGE>

Item 1.   DESCRIPTION OF BUSINESS

INTRODUCTION

1.  Largo Vista Group, Ltd., a Nevada corporation ("Largo Vista,"), operates
through its wholly owned subsidiary, Everlasting International Ltd.
("Everlasting"), a Nevada corporation. Everlasting operates and owns a 66.67%
interest in a joint venture company in China, operated under the name
"Kunming Xinmao Petrochemical Industry Co. Ltd." ("Xinmao or the Company").
Xinmao is principally engaged in the business of purchasing and reselling
liquid petroleum gas ("LPG") in the retail and wholesale markets to both
residential and commercial consumers in Yunnan Province of South China.
Xinmao operates a storage depot and has office headquarters in the City of
Kunming.  All of the Company's property and equipment is located in China.

Largo Vista was originally incorporated on January 16, 1987 in Nevada under
the name, "The George Group".  On January 9, 1989, The George Group acquired
Waste Service Technologies, Inc. ("WST"), an Oregon corporation.  On the same
day The George Group filed a name change in Nevada and changed its name to
WST.  WST's plan of business was to become an environmental service company.
It listed its stock and began trading on OTC Bulletin Board.

On April 15, 1994, WST acquired Largo Vista, Inc., a California corporation,
and on the same day filed a name change in Nevada to change WST's name to
Largo Vista Group, Ltd.  At the time of acquisition Largo Vista filed a
change of name with the OTC Bulletin Board and received a new CUSIP number
and symbol ("LGOV").  Largo Vista originally planned to develop housing in
China, but, after shipping two factory built homes to China, never fully
implemented the plans due to unanticipated financing, environmental and
regulatory complications.

On December 26, 1996, Largo Vista acquired Everlasting International Ltd.
("Everlasting"), a Nevada Corporation, which owns a 66.67% interest in
Kunming Xinmao Petrochemical Industry Co., Ltd. ("Xinmao"), mentioned above.
Everlasting acquired this asset from Proton Technology Corporation Limited, a
Bahamas Corporation ("Proton"), in which Mr. Deng Shan, a director and
principal shareholder of Largo Vista, is the principal shareholder.  The
acquisition of the 66.67% interest in the Xinmao Joint Venture by Everlasting
was accounted for as an asset purchase transaction.  Everlasting compared the
estimated fair market value of the assets acquired to the depreciated book
value of the assets on the Joint Venture's books and records in China, and
found no significant difference.  As a result, 66.67% of the depreciated book
value of the China Joint Venture assets were taken on to Everlasting's books
as the fair value for the stock issued.  Subsequently, Largo Vista acquired
100% of Everlasting from Proton in a stock for stock exchange.  In connection
with this transaction, the assets on the books of Everlasting were not
adjusted, and these values are now consolidated with Largo Vista's.

The historical chain-of-ownership of the asset is as follows:  The Hong Kong
Company, formed under the laws of Hong Kong, was initially owned by one
individual, Chan Mau Tak.  On November 8, 1995, Deng Shan, an individual,
purchased the Hong Kong Company from Chan Mau Tak.  On December 20, 1996, the
Hong Kong Co. was acquired from Deng Shan by Proton with majority shareholder
being Deng Shan.  On December 21, 1996, Proton transferred 100% of its
interest in the Hong Kong Company to Everlasting International Ltd., a Nevada
Corporation.  On April 29,1997, Largo Vista shareholders consented to an
acquisition and plan of reorganization executed on December 26, 1996, wherein
Largo Vista purchased 100% of the stock of Everlasting from Proton Technology
in a stock exchange transaction.
<PAGE>


2.  Organization of the Company and Subsidiary

Xinmao, in operation and providing uninterrupted service to consumers since
1992, is in its third year of operation as a subsidiary of Largo Vista.
Xinmao is the only company that has private majority ownership, and a private
majority Board of Directors; and, is one of the largest LPG distribution
companies in the Yunnan Province in terms of end users.

On  October 12, 1999, Largo Vista entered into a joint venture agreement with
the  United  Arab  Petroleum  Corporation ("UAPC"),  named  Largo  Vista/UAPC
Partners, wherein LVG shall hold 51% of the assets and liabilities, and shall
share  51% of the income and expenses of the JV; and, UAPC 49%.  The  purpose
of the JV is to combine the resources and talents of each party to develop  a
market  for  the sale of petrochemical products to be supplied by middle-east
sources,  and principally Dubai.  The JV plans to sell petroleum products  to
customers  in China, Vietnam and other countries throughout the Pacific  Rim.
See exhibits.

On  December 12, 1999, Largo Vista/UAPC Partners entered into a joint venture
agreement  with Mr. Ahmed Hasan Abdul Qahir Al Shaibani, Dubai,  United  Arab
Emirates  (UAE),  named Largo Vista Group, Ltd. (LLC of  Dubai,  UAE).  Largo
Vista/UAPC  Partners  will hold 49% (Largo Vista 25% and  UAPC  24%)  of  the
assets and liabilities, and shall share 49% of the income and expenses of the
JV;  and, Al Shaibani 51%.  The objective of the JV is to carry-on the  trade
of  crude  oil  and refined oil products.  The JV will have  headquarters  in
Dubai, and plans to focus sales of petroleum products in China, Indochina and
other Pacific Rim customers.  See exhibits.

<PAGE>
3.   Organization Chart


                                 LVG

                         Largo Vista Group,
                                Ltd.

                            Owns 100% EIL
                            Owns 100% LVI



                             Subsidiaries
                            Joint Ventures


             EIL                                    LVI

         Everlasting                         Largo Vista, Inc.
     International, Ltd.
                                          No Operations Presently
   Owns 66.67% of "Xinmao"



           "Xinmao"

        Kunming Xinmao
    Petrochemical Industry
         Co., Ltd., a

    Chinese Joint Venture

         JV Partners:

    "Everlasting" - 66.67%
      Government Partner
            33.33%


Note:  Government Partner is "Kunming Fuel General Co."

<PAGE>


LARGO VISTA GROUP, LTD.


EVERLASTING INTERNATIONAL, LTD.
(100% Owned Subsidiary of Largo Vista holding a)


66.67% Interest in the


Joint Venture
KUNMING XINMAO PETROCHEMICAL INDUSTRY CO., LTD.
(in which a)

33.33% Interest


is held by KUNMING FUEL GENERAL CO.
(Chinese Government Joint Venture Partner)


B.  FINANCIAL INFORMATION BY
INDUSTRY SEGMENT AND CLASSES OF PRODUCTS


Registrant is in the purchasing and reselling segment of the liquid petroleum
gas ("LPG") market in China.
<TABLE>
Year
                             1999                1998

<S>                         <C>                 <C>
Sales to                    $1,616,961          $1,476,971
Unaffiliated Customers:

Operating Loss             ($2,126,309) (1)    ($  962,203) (1)
Net <LOSS>                 ($2,198,488)        ($1,019,626)(1)

Identifiable Assets, Net    $  776,174          $  831,882
</TABLE>
-(1)   Operating losses for the twelve month period ending December 31, 1999
were [$2,126,309], increased from [$962,203] in the twelve month period
ending December 31, 1998; an increase of $1,503,770 (121.0%).  This increase
reflects abnormal G&A expenses resulting from a substantial issuance of stock
by the Company in 1999 to satisfy indebtedness to officers and outside
service providers as reflected in the Financial Statement Consolidated
Statement of Cash Flows.  These costs should even-out in the future as
expenses are paid as incurred.


C.      BUSINESS

1.      Terms of Xinmao Joint Venture

The Kunming Xinmao Petrochemical Co., Ltd. ("Xinmao") is a Joint Venture
formed under the laws of the People's Republic of China.  The Xinmao Joint
Venture commenced business in August of 1992, but has yet to achieve
profitable operations.

<PAGE>
Term: Twenty years, commencing on August 28, 1992.

Parties: Party A is the Kunming Fuel General Co. ("Government Partner ") as
to a 33.33% interest with a "registered capital" investment of US $641,000.

Party B is Everlasting International, Ltd as to a 66.67% interest, with a
"registered capital" investment of US $1,283,400.

General Provisions: Government Partner has a general responsibility to
support Everlasting in its duties.

The Joint Venture is an independent entity with an independent accounting
system.  An audit of the Joint Venture's financial records is conducted
annually by an auditor registered in China.  Fiscal year of Joint Venture is
January 1 to December 31.

Everlasting is, subject to the terms and conditions of an operating agreement
set forth below, responsible for the general management of Xinmao including:
Procurement of equipment and raw materials, equipment installation, testing
and technical training, hiring a management staff, production and technical
processes and other duties entrusted to it.

This Operating Agreement was made between the Government Partner and the Hong
Kong Company on August 28, 1992, for a term of ten years, ending on August
28, 2002.  Everlasting, as purchasor of the Hong Kong Company, is responsible
to manage the day-to-day operations of Xinmao and assume sole responsibility
for its profits and losses.

Each party under Chinese law would normally participate in the profits and
losses of the Joint Venture according to its proportionate share of
contribution.  However, this provision was changed by the Operating
Agreement, which provides that Xinmao is to pay the Government Partner 9
million Yuan (RMB) during the term of the Agreement as follows:

3.5 million Yuan for the first 3 years;
1.5 million Yuan per year for the 4th and 5th years;
500,000 Yuan per year from the 6th through the 10th years

The Company negotiated this agreement to provide flexibility and encourage
future investment and expansion by precluding the payment of large a sum of
money to the Government Partner.  To date, the Government Partner has been
paid 4.1mm RMB, and the balance due is 3.4mm RMB.  No payment has been made
since 1/24/98 due to several factors.  Since the government partner has
recovered more than its initial capital contribution, it has not urged Xinmao
to make up past due payments due to the difficulties Xinmao has faced during
1997 and 1998 including record high LPG prices and a chaotic and unstable
developing market.  This liability has been accrued on the books of Xinmao.

<PAGE>

The Government Partner has indicated a willingness to sell to Largo Vista  an
additional  28.33  %  which would result in Largo Vista owning  95%  and  the
Chinese partner owning 5% of the joint venture. Largo Vista had negotiated in
July  and August of 1998, an agreement with the Chinese Partner in the Xinmao
Joint Venture, to acquire an  additional 28.33% interest in the Joint Venture
for  a  cash purchase of 5mm RMB.  Unfortunately, Largo Vista was  unable  to
raise  sufficient  funds to complete this acquisition at  that  time.   As  a
result,  as  of this date, Largo Vista continues to own 66-2/3%  interest  in
Xinmao.  There is currently no binding contract or option in place to acquire
a further interest in Xinmao.


2.  Government License Held

The Xinmao Company holds a unique license issued by Chinese Central
Government (National Industrial and Commercial Registration Administration of
China).  This license is most valuable because it permits the Company to
operate across provincial borders; whereas, competitors of the Company are
restricted to the geographic area in which they are located.  In addition,
the license permits the Company to process domestic crude oil and sell its by-
products; to process and sell LPG to retail domestic and industrial
customers; to manufacture cylinders, stoves, water heaters, and cigarette
lighters and their accessories; and to provide services in inspection and
maintenance of stoves and cylinders for safety and quality.

Xinmao is a Sino-Foreign Joint Venture registered with the government as
having foreign ownership.  This registration permits foreign investment to
legally flow into China, and allows funds to legally flow out of China
including loan repayments, interest payments and dividends.  Xinmao is one of
the few known Sino-Foreign Joint Ventures licensed to sell petroleum products
in the retail market.

Xinmao also holds a general contractors license intended for construction of
pipeline projects.  As a part of its overall strategy to expand its LPG
market in China, management intends to expand its business in the future
beyond its current core business of purchasing and reselling LPG, utilizing
its various licensing authorities.


3.  The Product

As of December 30, 1998, according to information published by the Yunnan Gas
Association, in Yunnan Province there are approximately 1,000,000 households
using some form of gas utility (town gas, natural gas and LPG). About 65% or
650,000 households use LPG, and the number is increasing.  Approximately
160,000 household users reside in Kunming; and, there are 30,000 pipeline
household users, 60% of which are within Kunming City, with the balance
residing in smaller cities within the Province.  The metropolitan population
in Yunnan is 5.9 million with 3.2 million using gas (1 household equates to
3.2 people) as a utility - a city gasification rate of 54.2%.  This rate
increased by 7% over 1997, but still lags the national average by 20%.  LPG
use acounts for about 65% of this total.

<PAGE>

LPG consumption in Yunnan was approximately 68,000 metric tons, a net
increase over 1997 of 13,000 metric tons.

As a form of energy it is considered a very efficient fuel because in a
liquid state it provides a significant supply of energy in a comparatively
small volume.  LPG is recognized for its transportability and ease-of-use.
It is a clean and environmentally friendly source of energy that has a
variety of residential, commercial, industrial and transportation uses.  It
can be used at home for cooking and heating, replacing wood, kerosene, coal
and other environmentally unfriendly sources of energy.  In fact,
environmental concerns have caused the outlaw of the use of coal in most
larger cities in China.  Although LPG has some drawbacks such as high
combustibility, it requires great care in handling, and is subject to fire
and safety regulations, LPG remains one of the only viable sources of energy
for cooking and heating in Southern China. Management believes the China LPG
market is ripe for growth and expansion.

Most Chinese consumers have used of wood and coal all of their life primarily
for cooking only; however, they are slowly beginning to realize the ease and
convenience of also using LPG for heating and heating water.  Most consumers
obtain LPG in 15 kg. cylinders, very similar to those used for gas barbecues
in the U.S.  As LPG delivery systems, such as pipelines, make use more
convenient and simple, LPG consumption per capita should increase
significantly.  In addition, management believes there will be future
opportunities in drying tobacco and operating factory machinery and vehicles.


4.  Markets

The China LPG market is broken down into three segments for purposes of
analysis:

     1.Distribution method from the major LPG companies,
     2.Method of delivery to the consumer, and
     3.Black Market dealers

 The Primary market segment is according to distribution method - that is
either retail-direct or wholesale-indirect.  Retail distribution is
accomplished by the ten major LPG companies that deal directly with the end
user.  Xinmao qualifies as one of the ten major LPG companies by its
ownership of rail tank cars; it is one of only five companies having depot
storage facilities of 1,000M3; and it has distribution of LPG to retail and
wholesale, and residential and commercial users.

The second market segment is according to the delivery vehicle used by the
user, such as bottle or cylinder, pipeline, or tank truck.

The bottle users may be either retail, purchasing directly from a major LPG
company, or wholesale, purchasing indirectly from a distributor of a major
LPG company.  Bottle customers purchase LPG in 15 kg. cylinders or bottles
that must, by law, be filled to a minimum of 13.5 kg which is considered
full.  Bottle users include residential, and commercial customers.
Residential consumption is by far the largest, with commercial restaurants
and caterers following second.  There has been little industrial use of LPG
to date.

<PAGE>

Pipeline users are considered retail-direct users.  LPG flows directly into a
household via pipes from a central storage tank that is replenished as
necessary by a major LPG company.  Pipeline users are billed according to
usage based on a meter in their living unit.

Tank truck or bulk sales are made to wholesale distributors who operate small
bottle filling stations.  These distributors represent lower profit margins
but volume makes-up some of the difference.  Bulk sales are encouraged to
cultivate the small wholesale distributors because of the potential of
acquiring their customer base in the future.

A third market segment, although temporary, must be considered because of the
negative impact it has on the LPG market.  This segment is comprised of the
many small independent distributors and individuals who operate illegally in
what is referred to as the "black market" - most operating without a license,
violating safety laws, and unfairly profiting by short-filling LPG bottles.
These abusers create problems of unfair competition for the Company.  The
Kunming LPG Administration is aware of these abuses, but, unless a blatant
case is presented to it, it is ignoring the problems until the market
consolidates to a greater degree.

LPG consumption has been increasing in the past decade, but LPG consumption
per capita is still low, partly due to the large population in China.  At
present it is around only 6 kg nationwide which is small in comparison to
100kg in its Asian neighbors such as Japan and South Korea, for example.  LPG
development in China also shows geographical variance.  South China has led
the nation in terms of per capita consumption at nearly 35 kg.  East China
follows with per capita consumption of about 10kg.  North China is far less,
only half of that in East China.  And still in many places inland, the LPG
consumption per capita is negligible.  Since the Company operates in
Southwest China, management perceives a great opportunity to grow with the
projected expansion.

The majority of dollars invested in the China LPG market have been invested
in large "mega" depots by the major oil companies.  Little to no focus has
been placed on the retail end-user market.  Put simply, the LPG "storage"
infrastructure is in place, but it is overbuilt because the retail market has
not been cultivated at the same pace.  Management's primary objective is the
development of this retail consumer base.

From the mega-depots on the east and southeast coast of China, LPG is shipped
to smaller inland storage depots via railroad tank car.  LPG is then pumped
into large storage tanks until it is distributed in bottles, pipelines or
tank trucks to end users and distributors.

Inland infrastructure development has not kept pace with coastal development.
Inland depot storage capacity must be expanded to serve the customers in
waiting for LPG service.  More efficient distribution methods are also
needed.  The bottle exchange system is labor intensive - a factor that does
not significantly affect overhead yet, but will have greater future impact as
salaries increase.

<PAGE>

Distribution of LPG via pipelines directly to end-users is very efficient,
but one drawback is the cost to install pipeline service to each household,
which is approximately $185 US.  Some more affluent customers can afford to
pay the installation fee up front, but most of these have already purchased
pipeline service.  Some new construction projects permit the cost of
installation to be incorporated into the cost of the home.  However, most
customers can not afford the up-front fee, but are willing and able to pay
extra each month based on usage.  Xinmao has seven pipeline projects either
completed or under construction.


5.  Distribution of LPG

There are four basic levels of LPG distribution:

Major LPG companies
Major LPG Distributors
Medium LPG Distributors
Small Independent LPG Distributors

The Major LPG companies are characterized by the following: they purchase LPG
directly from refineries or major oil companies, they must be licensed, have
railroad tank cars and storage depots, and typically serve over 10,000 retail
customers.  These companies depend on distribution networks to get LPG to the
consumers.

Major distributors are licensed and generally serve more that 4,000 but less
than 10,000 customers directly, but do not typically have any railroad tank
cars, and have little or no storage capacity.

Medium Distributors are licensed and generally serve more than 1,500 but less
than 4,000 customers directly, have no storage capacity.

Small Independent Distributors are those who may or may not be licensed, and
have no relationship or loyalty to any major company or distributor, and
usually serve less than 1,500 customers.

Since all of these distributors serve a customer base, Xinmao is actively
recruiting them on an ongoing basis.

The majority of Xinmao's customer base is serviced with the help of agents
and entity users.  Xinmao has eight agents that are independent dealers who
exclusively represent the Company in an outlying county area that is
difficult for the Company to access on a regular basis.  The consumers
serviced by the agent pay retail prices.  The Company pays the agent a fee
for his services and the agent carries his own overhead expenses.

As the LPG market was developing in the early 1990's, the Company was seeking
to develop a customer base in the most efficient and effective manner
possible; and, as a result, began to cultivate the "entity user".  Entity
users were companies in other industries, already providing housing for their
employees, which desired to provide a convenience to their workers by
distributing LPG as an additional service.  These entity users developed into
distribution outlets that benefited the Company by providing free receiving,
storage and LPG distribution service to consumers who paid retail prices.  As
the market further developed, the entity user also began to be a distribution
outlet to other consumers in the local area that were not affiliated with the
entity company.  Today, the Company is actively seeking to cultivate and
develop additional entity users to expand the consumer base.  Today Xinmao
has 125 entity users.

<PAGE>

In 1997, under the leadership of Largo Vista management, several innovations
were added to the distribution process.  First, there was a time delay
between the sale of the LPG and receipt of the cash from the sale.  The
Company responded with the "coupon program" whereby the consumer, first
purchased a special coupon from the bank and presented it as payment as he
exchanged an empty bottle of LPG for a full one.  The bank then remitted to
the Company.  The Bank of Agriculture, one of the largest in China with over
1,000 branches in the province, has successfully worked with the Company for
over two years in this program and the bank is pleased with exposure to a new
customer base.

Second, also in 1997, the Company implemented the first consumer insurance
program. This insurance, written by the largest insurance company in China,
guaranteed the consumer who either made a non-refundable prepayment for LPG
by purchasing a coupon that the LPG would be at a fixed price, immediately
available, and a guaranteed quality and quantity.

These two innovations, the coupon program and the consumer insurance
protection program, were the first of their kind in China.  In the future the
Company intends to implement a third innovation for the pipeline distribution
system which will be a prepaid "smart card", that will be inserted into a
meter in the consumer's home.  This precludes cash flow and collection
problems.  Distribution of the prepaid smart card will be similar to the
coupon program in concert with the Bank of Agriculture.

The bulk of Xinmao's retail customers are located in the Yunnan Province
central cities of Kunming, Lunan, Chengong, Yiliang, Jinnin, Annin, and
Eshan.  As the population thins out in the suburbs, distribution networks
take-over and service most customers.  The rural areas are exclusively
serviced by smaller distributors.

Finally, there are a number of other minor distributors who purchase from
Xinmao and other major companies, who have solicited their own customer base
over a period of time and have generated customer loyalty through
relationship.


6.  Raw Materials

The Chinese market is unique compared to other Asian countries.  Japan and
Korea seek security of supply through regular term contracts supported by
long-term relationships, but, in China, low price and bargaining is the
driving force for LPG purchases.

Xinmao has been able to consistently purchase LPG at low prices due to high
volume of orders.  When purchasing LPG, Xinmao must weigh various factors
including quality of LPG, price, and transportation costs.  It generally
purchases from domestic sources inside China where prices are very low, but
transportation costs are higher.  On occasion Xinmao also purchases LPG from
foreign companies such as Mobil Oil Hong Kong and Caltex.

<PAGE>

Since Xinmao is presently dependent upon both domestic and foreign sources to
supply its LPG and since domestic supply cannot be relied upon for all of its
needs,  Largo Vista decided that the best interests of the Company  would  be
served  by Largo Vista establishing a strategic relationship with a  supplier
of petroleum products outside of the domestic China market both to provide  a
greater  guarantee of LPG in the future, and to expand its sale of  petroleum
products  both  in and outside of China.  Pursuant thereto,  On  October  12,
1999, Largo Vista entered into a joint venture agreement with the United Arab
Petroleum Corporation ("UAPC"), named Largo Vista/UAPC Partners, wherein  LVG
shall  hold  51% of the assets and liabilities, and shall share  51%  of  the
income  and expenses of the JV; and, UAPC 49%.  The purpose of the JV  is  to
combine  the resources and talents of each party to develop a market for  the
sale  of  petrochemical products to be supplied by middle-east  sources,  and
principally  Dubai.  The JV plans to sell petroleum products to customers  in
China, Vietnam and other countries throughout the Pacific Rim.

To date, Largo Vista/UAPC Partners has accomplished the following:
Contract:   November  25,  1999,  Largo Vista/UAPC  Partners  seller;  Mekong
Petroleum Joint Venture Co., Ltd. (PETROMEKONG) buyer; 20,000 metric tons  of
diesel  oil  during  the  months of December 1999  and  January  2000;  total
contract price approximately $3,300,000 USD.

Contract:   December  18,  1999,  Largo Vista/UAPC  Partners  seller;  Mekong
Petroleum Joint Venture Co., Ltd. (PETROMEKONG) buyer; 2,600 metric  tons  of
gasoil 1% sulphur and 3,000 metric tons of unleaded mogas 92 during the month
of  December 1999; contract price approximately $430,000 USD for gasoil,  and
approximately $560,000 USD for mogas 92.


On  December 12, 1999, Largo Vista/UAPC Partners entered into a joint venture
agreement  with Mr. Ahmed Hasan Abdul Qahir Al Shaibani, Dubai,  United  Arab
Emirates  (UAE),  named Largo Vista Group, Ltd. (LLC of  Dubai,  UAE).  Largo
Vista/UAPC  Partners  will hold 49% (Largo Vista 25% and  UAPC  24%)  of  the
assets  and  liabilities, and shall share 491% of the income and expenses  of
the  JV;  and,  Al Shaibani 51%.  The objective of the JV is to carry-on  the
trade  of  crude oil and refined oil products.  The JV will have headquarters
in  Dubai, and plans to focus sales of petroleum products in China, Indochina
and other Pacific Rim customers.

Cost of goods can fluctuate widely and rapidly and can cause cash flow
problems.  The Company is researching the feasibility of obtaining a much
larger storage facility that would permit it to purchase large quantities of
LPG when prices are favorable, and sell it when prices are higher.

7.  Pricing and Competition

The  LPG industry in Yunnan Province consists of ten major LPG companies that
have  railroad tank cars, depot storage facilities, and sell LPG in both  the
retail  and  wholesale markets.  All ten companies depend  on  a  network  of
distributors  to  help  reach  and  serve  the  needs  of  their   customers.
Competition  is based principally on price and service, with  some  based  on
relationship and reputation.  Nine of these companies are majority  owned  by
the government, and are wholly operated by management that is responsible  to
a  government majority Board of Directors.  These companies are designated in

<PAGE>

China  as  "government owned and operated".  Xinmao is the only company  that
has  private majority ownership, a private majority on the Board of Directors
which controls the Company.  Only five of the nine companies are in the  same
category as Xinmao in terms of storage capacity of 1,000 cubic meters.

LPG retail market prices have been relatively unstable during the past two
years, characterized by over supply and cut-throat competition.  This was
precipitated by environmental concerns that prompted the passing new
regulations by the Kunming City Government that outlaw the use of coal.
Other larger cities are following suit with similar clean air regulations,
leaving LPG as the major viable energy alternative for cooking, heating, and
hot water.

No companies were prepared to supply a sufficient amount of LPG to this new
consumer market, but all companies reacted to the huge new demand.

The difference between Xinmao and the other nine government companies is that
the primary objective of Xinmao is to make a profit while profit is secondary
to the government companies primary objective is to ensure supply LPG.  The
nine government companies, whose primary objective was to supply LPG to
consumers, are characterized by a lack of management and financial expertise,
and by large work staffs that operate very inefficiently.  These entities
ordered an excess supply of LPG and had to cut prices to deplete the excess.
This began the spiraling downward price market in which Xinmao was forced to
compete.  These pressures have eased, and Xinmao is negotiating with the
government agencies and some companies in an effort to bring stability back
to the market along with higher prices and profitable margins.

Black Market.   In the residential wholesale market, many independent, "black
market" dealers sprung-up and have been operating without a license, and have
ignored safety regulations that require inspection and pressure testing of
each bottle every five years.  Another flagrant violation of consumer
fairness is the practice of short-filling bottles.  The "black market" dealer
fills the bottle with 10 kg. of LPG, and sells it representing it has 13.5
kg. of LPG.  Short-filling has permitted the Company's competition to charge
lower prices and unfairly compete with Xinmao.  This practice of cheating the
consumer has been prevalent over the past several years.  Xinmao is now
challenging customers to be aware of what they are paying for by
implementation of a "weight comparison program".  The program permits the
consumer to actually weigh the bottles to expose the "short-fill" problem.

As of April 15, 1999, the Kunming LPG Administration established "minimum
pricing" regulations which set a base price for both wholesale bulk sales,
and wholesale and retail bottle sales.  This regulation will help stop the
uncontrolled cut-throat pricing competition that occurred over the past 24
months.  It will be incumbent upon the nine participating major LPG companies
to form task forces to assist the LPG Administrator in enforcing these
regulations.  The "short-fill" practice is now illegal under new "minimum
price" regulations, which require all wholesalers to sell a 13.5 kg. bottle
for no less than 36 RMB, and retail distributors for no less than 42 RMB.

<PAGE>

Xinmao competes with others on both reputation and service.  To differentiate
itself from its competition, Xinmao stresses a long-term relationship both
with the residential user, and with the distributor, to help them bring-in
and keep new customers.  The Company wants its distributors and their
customers to be a part of the "Xinmao Family".  The Company offers more than
claims about its service.  Its reputation is excellent and is backed-up by a
record of uninterrupted service since 1992.  Consumers and distributors know
that they can rely on Xinmao to deliver and that they will receive honest
weights and measures.


8.  Insurance

Xinmao sells a solid image of reliability, service, safety, and seven years
of uninterrupted service to its customers - and backs it up with insurance.
The Company provides consumer insurance, written by the Peoples Insurance
Company of China (PICC) which is owned by the government.  The insurance
guarantees that a customer who paid in advance that the LPG would be at a
fixed price, immediately available, and a guaranteed quality and quantity.
This innovation has given the customer new confidence, since in the past many
companies collected in advance, and then went out of business, leaving the
customer empty handed.


9.  Government Regulation

The  LPG  industry  is regulated on a day-to-day basis  by  the  Kunming  LPG
Administration,  which oversees all companies licensed to  do  business,  and
enforces  rules  and regulations in the market place.  The LPG Administration
faces  many problems in this rapidly emerging, chaotic market, including  the
existence  of  many  unlicensed  small  distributors,  violations  of  safety
regulations,  and bottles of LPG short-filled by as much as  25%.   In  April
1999,  the  local LPG Administration met with Xinmao and eight of  the  other
largest  licensed  companies  in the area, and  together  set  minimum  price
policies   intended  to  provide  positive  margins  over  cost.    The   LPG
Administration  has  also  begun  to  correct  some  of  the  more   flagrant
violations.   The philosophy of the Chinese LPG Administration  is  to  first
ensure  LPG  is  available  to  all people  requiring  it,  then  to  enforce
regulations so long as they don't interfere with the first priority.



10.  Patents, Trademarks & Licenses

The Company maintains no patents or trademarks.


11.  Seasonal Factors

Northern China is subject to a wide range of seasonality ranging from snow in
the winter to hot, humid summers.  However, moving south, the seasons and
temperatures do not fluctuate as much as in the north.  The Xinmao Company
operates in Yunnan Province which, being at an elevation of approximately
5,500 feet, is known for its moderate and even climate year around - being

<PAGE>

slightly cooler in the winter, requiring some heating, while the summer
weather is warm and pleasant.  As a result, seasonal factors do not play a
significant role in the Company's business.


12.  Inventory

Inventory, valued at cost, on the first-in, first-out basis, consists
primarily of liquid petroleum gas.

13.  Firm Backlog

None.


14.  Government Contracts

The Company has government approval for the exclusive development of pipeline
projects in the counties of Lunan, Fuming, Yiliang, Yuxi, and a part of
Kunming.


15.  Environmental Factors

Between 1996 and 1998, environmental concerns over clean air and streets,
have prompted a general movement within the Chinese Government from the
Central Government to the provinces and the major cities to phase-out the use
of coal as an energy source for cooking and heating.  As coal is phased-out a
void is left which is being filled by liquid petroleum gas (LPG) because it
is a clean burning, efficient and transportable energy substitute.  It is
expected that continued efforts will be made to replace other unclean burning
fuels with LPG, especially in automobiles and industrial applications, since
it is the only viable alternative fuel resource available to Southern China.


16.  Financial Information Relating to Foreign & Domestic Sales

All of the Company's sales are foreign, through Xinmao, its China subsidiary.
The Company has had no significant foreign currency transaction gains or
losses in connection with its activities.



17.  Employees

Largo Vista Largo Vista is fully staffed with 2 employees, and relies on five
other outside service providers for legal, accounting and other services as
needed.  The Chinese subsidiary, Xinmao, is fully staffed with 84 employees,
including a full management staff, which is considered highly competent and
well qualified.

<PAGE>

LARGO VISTA GROUP, LTD.

Item 2.  A.  FINANCIAL INFORMATION

The following table summarizes certain selected financial data for the
periods presented for the Company.  The data for the year ended December 31
1998 and 1997 should be read in conjunction with the more detailed audited
statements for such years presented elsewhere herein.
<TABLE>
                             12/31/99           12/31/98
<S>                         <C>               <C>
Revenues                    $                  $
LP Gas Sales                $1,616,961         $1,476,971
Other Income                $  148,092         $  141,229
Total Revenue               $1,765,053         $1,618,200
Cost of Sales               $1,153,863         $1,353,537
Margin                      $  611,190         $  264,663
G&A & Other Exp.            $2,589,407 (1)     $1,085,637 (1)
Operating <Loss>           <$2,126,309>       <$  962,203>
NET <LOSS>                 <$2,198,488>       <$1,019,626>
</TABLE>
See Consolidated Statement of Operations - (12/31/99)
-(1) The calculations of $2,589,407 and $1,085,637 G&A and Other Expenses for
the years 1999 and 1998, respectively, include amounts for provisions for bad
debt of approximately $54,000 in 1998.  Higher U.S. costs in 1999 are
discussed below in Management's Discussion and Analysis.


B.  Management's Discussion and Analysis of Financial Condition and Results
of Operation

1.   Management's Discussion and Analysis of Financial Condition
                     And Results of Operations
Twelve months ended December 31, 1999 and December 31, 1998

Revenues and expenses are generated from the Company' s Chinese subsidiary,
Kunming Xinmao Petrochemical Industrial Co., Ltd. ("Xinmao"). The United
States entities produce no revenues, and experience expenses in conjunction
with management oversight of the Chinese entity, legal, accounting and other
professional services.  The result of consolidated operations are reported.

Revenues for the twelve month period ending December 31, 1999 were
$1,765,053, increased from $1,618,200 in the twelve month period ending
December 31, 1998; an increase of $146,853 (9.1%).  This increase reflects
the Company's curtailment of sales activity in high volume, low to negative
margin market segments, and focus on higher margin retail business.  Price
pressures continue to negatively affect sales volume and profitability in the
retail residential market segment.  The market is still developing and
reflects rapidly increasing consumer demand, low cost of goods and some over
supply of product placing downward pressure on prices, and one that requires
capital investment to improve delivery systems to consumers.  The Company
anticipates increases in revenue from expanded marketing efforts, price
increases, expansion into other lines of business, and mergers and
acquisitions.

<PAGE>

Cost of sales for the twelve month period ending December 31, 1999 were
$1,153,863, decreased from $1,353,537 in the twelve month period ending
December 31, 1998; a decrease of $199,674 (-14.8%).  Cost of sales on a
percentage basis, has remained fairly consistent over the last two years.
Improvements are due to cost containment procedures, and the Company
anticipates greater improvements going forward by further implementing cost
containment procedures and obtaining LPG at lower prices.

Margins for the twelve month period ending December 31, 1999 were $611,190,
increased from $264,663 in the twelve month period ending December 31, 1998;
an improvement of $346,527 (130.9%).  The increase reflects focus of sales
activity on more profitable market segments, implementation of cost reduction
efforts, and improved management techniques.  The Company anticipates
improving the margin going forward by continuing to focus sales efforts on
more profitable market segments, and implementing additional measures to
reduce cost of goods.

General and administrative expenses for the twelve month period ending
December 31, 1999 were $2,589,407, increased from $1,085,637 in the twelve
month period ending December 31, 1998; an increase of $1,503,770 (138.5%).
In 1999 the Company issued a substantial amount of stock to satisfy
indebtedness to officers and outside service providers as reflected in the
Financial Statement Consolidated Statement of Cash Flows.  These costs should
even-out in the future as expenses are paid as incurred.

Operating losses for the twelve month period ending December 31, 1999 were
[$2,126,309], increased from [$962,203] in the twelve month period ending
December 31, 1998; an increase of $1,503,770 (121.0%).  This increase
reflects abnormal G&A expenses discussed above.

2.  Liquidity and Capital Resources

Historically, the Company has been able to borrow funds as necessary to
pursue operations.  However, neither Largo Vista nor Xinmao have written
letters of commitment from either commercial or private sources of credit.
The company has continually experienced significant operating losses and
there is no internal source of liquidity.  The primary source of external
liquidity has been loans from Chinese state-owned banks.  However, since
Chinese banking authorities are tightening credit, it is uncertain whether or
not Xinmao will continue to receive loans from them.  Currently the Company
has sufficient liquid capital to operate for approximately 6 to 8 months.
The availability, source, amount and terms of any additional financing is
uncertain at this date, and by no means assured.


3.   Trends, events or uncertainties that have or are reasonably likely to
have a material impact on the Company's liquidity.

The economic growth of China with its huge population, emerging middle class,
and growing consumer sector are trends that management anticipates will
increase the Company's revenues from Xinmao as well as other anticipated
projects.  China's young, developing LPG market presents challenges of
improving sales strategies, seeking lowest-cost sources of goods,
implementing efficient management techniques, and developing the efficiency
and effectiveness of human resources.

<PAGE>

World geopolitical uncertainties, such as the United States bombing of the
Chinese consulate in Belgrade, Yugoslavia resulted in a short period (4-5
days) of unrest and negative reactions toward Americans in China; however, no
long term difficulties have been experienced and management does not
anticipate any serious detriment to prospects for the Company's success in
China because of the nature of the service a utility company provides that is
in continual demand, and the fact that foreign ownership is not readily
ascertainable by consumers.

In addition, even though Chinese management is optimistic of its ability to
obtain credit from private sources, the trend in China is for the banks to
tighten loan eligibility for businesses such as Xinmao that are experiencing
cash flow difficulties.

Additionally, the Company is searching for joint venture partners in various
potential LPG projects in the Yunnan Province and in other provinces.
Investment by joint venture partners will be perceived as financial strength
by the local LPG Administration, and management anticipates stronger
enforcement of licensing and safety regulations, which should reduce unfair
competition currently experienced by the Company.


Year 2000 Issue

Many computer Systems in use today may be unable to correctly process data or
may not operate at all after December 31, l999 because those systems
recognize the year within a date only by the last two digits. Some computer
programs may interpret the year "00" as 1900, instead of as 2000, causing
errors in calculations or the value "00" may be considered invalid by the
computer program, causing the system to fail.

In the U.S., the Company maintains its financial data on a PC system
utilizing generic accounting software, both of which have been guaranteed by
the manufacturer as Y2K compliant.  In China, due to government regulations,
the Company maintains a manual record system.  During first quarter 2000, in
China, management expects to begin maintaining financial and other
information on both a manual and PC system, totally shifting to a PC system
as government regulations permit.  The Company has not experienced any
problems related to computer software dating issues and does not believe it
will either experience future, or that it has significant exposure in the
future, to Year 2000 problems, and neither does it expect that the Year 2000
issue will have a future material cost or impact on Company operations.  The
Company's primary contingency plan depends upon the use of manual back-up
systems, and alternative supply sources such as major oil companies.

These contingency plans are intended to mitigate the impact of third party
Year 2000 noncompliance.  Outside of manual backup, the Company does not plan
to implement further contingency plans.  The Company has not inquired into
the readiness of any of its key third party suppliers; however, as of March
1, 2000, none of its key third party suppliers has reported any Y2K problems.
However, there can be no assurance that the systems of key suppliers and
other companies on which the Company relies will not have an adverse effect
on the Company including, (1) the inability to obtain products or services

<PAGE>

used in business operations, (2) the inability to deliver goods or services
sold to customers.

Forward - Looking Statements

Investors are cautioned that certain statements contained in this document,
including but not limited to those under the caption Management's Discussion
and Analysis as well as some statements by the Company in periodic press
releases and some oral statements of Company officials during presentations
about the Company, are "forward-looking" statements.  Forward-looking
statements include words such as "expects", "anticipates", "intends",
"plans", "believes", "estimates", or similar expressions.  In addition, any
statements concerning future financial performance (including future
revenues, earnings or growth rates), ongoing business strategies or
prospects, and possible future company actions, which may be provided by
management are also forward-looking statements.  Forward-looking statements
are based on current expectations and projections about future events and are
subject to risks, uncertainties, and assumptions about the Company, economic
and market factors and the industries in which the Company does business,
among other things. These statements are not guaranties of future performance
and the company has no specific intention to update these statements. Actual
events and results may differ materially and detrimentally from those
expressed or forecasted in forward-looking statements.

Certain of the important factors that could cause actual results to differ
materially and negatively from the Company's expectations, among others,
include continued instability in pricing and unprofitable competition in
China, a slow down in the trend in sales of LPG during the remainder of the
year, an inability to obtain sufficient working capital, and new Government
regulations adverse to the Company's operations.


Item 3.     PROPERTIES

A.  Largo Vista

Currently Largo Vista has corporate offices in Newport Beach, California,
which include two office suites.  The terms of this Lease provide for month
to month tenancy at $2,500 per month.

B.  Xinmao

Xinmao  provides its primary service from its depot, which is adjacent  to  a
railroad  terminal.  The depot has a capacity of storing 1,000  cubic  meters
(approximately 500 metric tons) of LPG.  Assuming the depot is  operating  at
full  capacity  and turns-over twice per month, the depot  is  sufficient  to
supply  83,000 users assuming consumption of 12 kg. of LPG per household  per
month.   In addition, Xinmao, formed in 1998, a new joint venture in Yuxi,  a
city  near  Kunming. The purpose of the joint venture is to give  Xinmao  the
option for additional LPG storage in the future as distribution expands.  The

<PAGE>

joint venture, being recently organized, is in the development stage, and  as
of this date, has no assets or liabilities or operations.  This joint venture
will  have access to LPG storage facilities that management believes  may  be
capable of supplying LPG storage for up to 30,000 customers per month  should
demand increase to these levels.

The depot also has ten service stations from which the 2, 15, and 50 kilogram
bottles are filled, and loaded onto trucks for distribution.  For its retail-
direct customers, Xinmao transports the full bottles to an exchange shop
where either the customer comes in personally, or Xinmao will provide a
delivery man to take the bottle to the customer who pays a delivery fee.

In the case of a pipeline, 50 kg. bottles are used in cluster to service
residents in the housing complex.  The advantage the pipeline customer has
over the bottle customer is convenience and service.  There is no need to
spend valuable time exchanging bottles.  The meter is read by the serviceman
each month who also collects the amount due.  Xinmao is planning to use
"smart meters" in future pipeline developments that require the customer to
go to the Bank of Agriculture and purchase a prepaid card, similar to a
prepaid phone card commonly in use in the U.S.  This will improve cash flow
and reduce "slow-pays" and "bad debts".

Xinmao leases a two story, 4,000 square foot facility in Kunming City, where
it operates a customer service and sales center, bottle exchange shop,
storage facility, and administrative offices, at an annual rental of $1000 US
per year, under a three year lease, with one year of the term remaining.  It
also leases and operates a number of small bottle exchange stores throughout
key locations in the city.


Item 4.   SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
         MANAGEMENT

The following table sets forth information regarding beneficial ownership as
of March 1, 2000, of the Company's Common Stock, by any person who is known
to the Company to be the beneficial owner of more than 5% of the Company's
voting securities and by each director and by officers and directors of the
Company as a group.
<TABLE>
                                  Beneficial      Percentage
Name and Address                   Ownership      of Class
<S>                              <C>             <C>
Daniel Mendez                      22,616,154      10.61%
4570 Campus Drive
Newport Beach, CA 92660*

Albert Figueroa                     6,094,936       2.86%

Deng Shan                          96,197,274      48.78% (1)

All current directors and
officers as a group (3 persons)   124,908,364      62.25%
</TABLE>
-(1) Mr. Deng Shan owns 1,437,255 shares (.674%) personally, and 88,861,246
shares (41.70%) through his wholly owned corporation, Proton Technology
Corporation Limited for a total of 90,298,501 shares (42.374%).
*This address also applies to all persons listed.
<PAGE>


Item 5.   DIRECTORS AND EXECUTIVE OFFICERS

The names, ages and positions of the directors and executive
officers of the Company as of September30, 1999, are as follows:
<TABLE>
Name                Age       Position                            Since
<S>               <C>        <C>                                 <C>
Daniel J. Mendez    47        Acting President and a Director      4/94
Albert N. Figueroa  33        Acting Secretary/Treasurer, and      5/95
"                "            a Director
Deng Shan           48        Director                             1/99
"       "                     Chairman of the Board                4/99
</TABLE>

The Directors serve until the next annual meeting of shareholders, or until
their successors are elected.

Daniel J. Mendez, Acting President, is responsible for investor relations,
coordination of information with market makers and brokers and potential
partners, coordination of all agreements, corporate financing, and liaison
with Chinese operations.  Mr. Mendez joined the Company in October of 1991 as
a marketing coordinator.  In April 1994 he became President and a Director,
and is responsible for investor relations, coordination of corporate
agreements, corporate financing, and liaison with Chinese operations.  Prior
to 1991

Albert N. Figueroa, Acting Secretary and Treasurer, is the gatekeeper of all
corporate documents and information, maintains the minute book and all
corporate records and agreements, keeps the books, liaisons with all outside
service providers, and generally coordinates the flow of information within
the company and with the Chinese operations.  Mr. Figueroa was formerly
involved in the construction industry as an estimator.

Deng Shan, Chairman of the Board and Director, is well versed in the business
practices of China. Early in his career Mr. Deng was a lecturer in Wuhan
Chemical Engineering School.  Later he advanced to associate professor at
Huazhong University of Science and Technology.  In 1989, Mr. Deng became the
Director, Science and Technology Commission, Nanshan District Government,
China.  Since 1994, Mr. Deng has been appointed as Chief Executive
Officer/Chairman of the Board of four commercial companies.  In 1996, Mr.
Deng acquired Kunming Xinmao Petrochemical Industrial Co., Ltd.  Mr. Deng has
established strategic networks in both business and government arenas.

<PAGE>

Item 6.     EXECUTIVE COMPENSATION

The following table sets forth the annual compensation paid and accrued by
the Company during its last three fiscal years to the executive officers to
whom it paid in excess of $100,000, including cash and issuance of
securities.
<TABLE>

                              Summary Compensation
Annual Compensation                     Awards         Payouts

                                Other             Secur
Name                           Annual Restricted  ities          All Other
And                            Compen-  Stock     UnderlyingLTIP Compen-
Principal      Salary   Bonus   sation  Award(s)  Options/Payouts   sation
Position  Year ($)         ($)  ($)        ($)     (SARs (#)   ($)  ($)

<S>       <C>  <C>       <C>    <C>        <C>        <C>      <C>   <C>
Daniel
Mendez    1997 220,000      0    9,503       0         0         0    0

Daniel
Mendez    1998 220,000      0   45,951       0                 0        0
0

Daniel
Mendez    1999 150,000      0   68,422       0               0       0     0

Albert
Figueroa  1997 100,000      0    4,320       0               0       0     0

Albert
Figueroa  1998 100,000      0   46,225       0               0       0     0

Albert
Figueroa  1999 100,000      0   45,899       0               0       0     0

Deng
Shan      1997 100,000      0    4,320       0               0       0     0

Deng
Shan      1998 100,000      0   46,225       0               0       0     0

Deng
Shan      1999 100,000      0   48,474       0               0       0     0
</TABLE>
-(1)  Of  the above compensation paid to Daniel J. Mendez, a portion of  said
compensation was paid by the issuance of private placement stock in  lieu  of
cash  in the following amounts and the agreed values in the respective  years
indicated:

1997:     2,850,970 shares valued at $229,503
1998:     3,304,737 shares valued at $265,951
1999:     2,528,816 shares valued at $218,422

-(2)  Of the above compensation paid to Albert N. Figueroa, a portion of said
compensation was paid by the issuance of private placement stock in  lieu  of
cash  in the following amounts and the agreed values in the respective  years
indicated:

1997:     1,295,896 shares valued at $104,320
1998:     1,817,449 shares valued at $146,225
1999:     1,689,420 shares valued at $145,899

<PAGE>

-(3)  Of  the  above  compensation paid to  Deng  Shan,  a  portion  of  said
compensation was paid by the issuance of private placement stock in  lieu  of
cash  in the following amounts and the agreed values in the respective  years
indicated:

1997:     1,295,896 shares valued at $104,320
1998:     1,817,449 shares valued at $146,225
1999:     1,721,403 shares valued at $148,474

-(4) No directors are paid compensation as directors.  The persons serving as
directors also serve as officers or key consultants and the full compensation
for each has been set forth in Item 6 above.

Employment Contracts, Termination of Employment, and Change-in-Control
Arrangements

-(5) Daniel J. Mendez, President, has an employment contract for a term of
one year commencing on January 1, 1999 with annual compensation of $150,000
per year payable $12,500 per month.  It may be terminated upon 30 days
written notice of either party, and has a provision for change in ownership
or control of 30 days severance at the monthly salary set forth above.

-(6) Albert N. Figueroa, Secretary/Treasurer, has an employment contract for
a term of one year commencing on January 1, 1999 with annual compensation of
$100,000 per year payable $8,335 per month.  It may be terminated upon 30
days written notice of either party, and has a provision for change in
ownership or control of 30 days severance at the monthly salary set forth
above.

-(7) Deng Shan, Consultant, has an Agreement for Services for a term of one
year commencing on January 1, 1999 with annual compensation of $100,000 per
year payable $8,335 per month.  It may be terminated upon 30 days written
notice of either party, and has no protective provision for change in
ownership or control except for 30 days severance at the monthly compensation
set forth above.

Options/SAR Grants in Last Fiscal Year

No options or SAR Grants have been made by the Company during its
last fiscal year.


Item 7.     CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

A.   In late December, 1996, the company entered into a Plan and Agreement of
Reorganization with Everlasting International, Ltd. ("Everlasting"), a Nevada
corporation, and Proton Technology Corporation Limited ("Proton"), a Bahamas
corporation, whereby the Company acquired 100% of the shares of Everlasting,
owned by Proton, in exchange for 123,850,139 shares of the voting common
stock of the Company.  At the time of this transaction, Everlasting owned two-
thirds of Kunming Xinmao Petrochemical Industrial Co., Ltd. ("Kunming
Xinmao"), a Chinese entity, with the other third of Kunming Xinmao owned by a
Chinese Government corporation (this interest had been transferred to
Everlasting from Proton).

<PAGE>

Mr. Deng Shan is currently a Director of Largo Vista and a majority
shareholder of Proton Technology Corporation, Ltd. A loan of $30,000.00 is
owed by the company to Proton Technology.

Other than discussed above, the Company has no knowledge of any transaction
or series of transactions, or any currently proposed transaction, or series
of transactions, to which the Company was or is to be party, in which the
amount involved exceeds $60,000, involving management, any person owning 10%
or more of the common stock, or any member of the immediate family of any of
the foregoing persons.


Item 8.     LEGAL PROCEEDINGS

The Company has unpaid judgments totaling approximately $95,000, as a result
of disputes arising in the normal course of business.

In  March,  1998, the Sichuan Peoples Court, P.R. China rendered  a  judgment
against  Xinmao  in the approximate amount of U.S. $452,000  that  negatively
impacted  the  12/31/98 Financial Statement by approximately  $112,550.   The
judgment is completely satisfied.

Action  filed  on  May  14,  1998 in the High  Court  of  Hong  Kong  Special
Administration   Region,   Case   HCA14528/98   by   Plaintiff    Everlasting
International, Ltd. vs. Defendant Chan Mau Tak.  This lawsuit was brought  by
Everlasting  International, Ltd. ("EIL") against Chan  Mao  Tak  ("CMD")  for
breach  of  the  purchase agreement wherein EIL acquired the  assets  of  the
Xinmao  Company  from CMD.  EIL is a wholly owned subsidiary of  Largo  Vista
Group,  Ltd.   This lawsuit is brought on the basis that CMD made  fraudulent
representations  concerning  the assets of the Kunming  Xinmao  Petrochemical
Co., Ltd. The court ordered an Interlocutory Judgment on 10/14/98 in favor of
EIL for 1 million HK$ plus damages incurred plus interest @ 13.08% per annum.
One  million HK$ is the penalty provided in the Transfer Agreement.  CMD  has
filed  an  appeal, based on failure of service of process.  It is not  likely
that Xinmao has any liability in the matter since no complaint has been filed
against  it,  however  this  is  not certain.  If  EIL  prevails,  management
anticipates  recovery  of  the 1 million HK$ plus the  value  of  the  assets
misrepresented  in  the Transfer Agreement. CMD owns and  operates  Panzhihur
Petrochemical  Industry  Co., Ltd., a company with assets  including  an  LPG
depot.  The resolution of this matter is uncertain.

Aside from the above, there is no litigation outstanding, and management is
not aware of any potential claims which might be asserted.


Item 9.     MARKET PRICE AND DIVIDENDS ON REGISTRANT'S COMMON STOCK
          EQUITY AND RELATED STOCKHOLDER MATTERS

The Company's Common Stock trades on the NASD Bulletin Board,
under the symbol "LGOV".  The closing sales price on December 31, 1999 was
$1.06 bid and $0.94 ask.

Set forth below is the high and low bid information for the Company's Common
Stock for each full quarterly period within the two most recent fiscal years
and the four quarters of 1999.
<PAGE>
<TABLE>
                         High            Low
Period                        Bid             Bid
<S>                         <C>              <C>
4th Quarter 1999               $1.06             $.94
3rd  Quarter 1999             $0.11              $.10
2nd  Quarter 1999             $0.125          $.125
1st Quarter 1999              $0.12           $.10

4th Quarter 1998              $0.13           $.11
3rd Quarter 1998              $0.20           $.17
2nd Quarter 1998              $0.18           $.17
1st Quarter 1998              $0.20           $.18

4th Quarter 1997              $0.125          $.09
3rd Quarter 1997              $0.13           $.12
2nd Quarter 1997              $0.19           $.18
1st Quarter 1997              $0.20           $.18
</TABLE>
At December 31, 1999, the Company had approximately 519 Shareholders of
record.

The Company has not paid a dividend since its incorporation, and management
does not anticipate the Company will pay dividends in the near future.


Item 10.     RECENT SALES OF UNREGISTERED SECURITIES

During its last three fiscal years, up through and including this date, the
Registrant has issued the following unregistered securities.

From  January 1, 1997 through December 31, 1997, the Company issued 2,995,194
shares of its common stock that was valued at $273,312 as follows:
<TABLE>
Date       Amount    Name or Class of  Nature          Amount   Exempti
           Shares    Persons           of               Of       on
           issued    to Whom Sold      Consider-       Consider-Claimed
                                       ation           ation
                                               ($)
<S>         <C>            <C>                <C>         <C>     <C>
10/27/97  1,861,027  Daniel Mendez   Conversion (1)   157,176   4(2)
                                     of Loan
10/27/97    687,379  Albert Figueroa Conversion (1)    58,054   4(2)
                                     of Loan
10/27/97    391,788  John Prentice   Conversion (2)    50,932   4(2)
                                     of Loan
10/27/97    55,000  William Vauthrin Conversion (2)     7,150   4(2)
                                     of Loan
      ------------                                   ----------
Total    2,995,194                                    273,312

</TABLE>
From  January 1, 1998 through December 31, 1998, the Company issued 3,939,058
shares of its common stock that was valued at $559,022 as follows:

<PAGE>
<TABLE>
Date       Amount    Name or Class of  Nature          Amount  Exempti
           Shares    Persons           of               Of       on
           issued    to Whom Sold      Consider-       Consider-Claimed
                                       ation           ation
                                               ($)
<S>      <C>     <C>       <C>                <C>         <C>     <C>
2/4/98      373,224  Albert Figueroa   Conversion (1)    27,759    4(2)
                                       of Loan
2/4/98    1,553,921  Daniel Mendez     Conversion (1)   115,573    4(2)
                                       of Loan
7/21/98     422,345  Albert Figueroa   Conversion (1)    55,292    4(2)
                                       of Loan
7/21/98   1,039,568  Daniel Mendez     Conversion (1)   136,097    4(2)
                                       of Loan
9/24/98     350,000 Danilo Cacciamatta Settlement (2)    78,256    4(2)
                                       of Claim
9/24/98     200,000  Equitrade         Settlement (2)   146,045    4(2)
                                       of Claim
         -------------                              -----------
Total     3,939,058                                    $559,022

</TABLE>
<TABLE>
From January 1, 1999 through December 31, 1999, the Company issued 28,519,534
shares of its common stock that was valued at $2,387,980 as follows:

Date       Amount    Name or Class of  Nature          Amount   Exempti
           Shares    Persons           of               Of       on
           issued    to Whom Sold      Consider-       Consider-Claimed
                                       ation           ation
                                               ($)
<S>      <C>     <C>       <C>                <C>         <C>     <C>
6/21/99   1,000,000  Daniel Mendez     Services   (3)     80,420   4(2)

6/21/99   1,000,000  Albert Figueroa   Services   (3)     80,420   4(2)

6/21/99   1,000,000  Deng Shan         Services   (3)     80,420   4(2)

6/21/99     700,000  Bernard Kruer     Services   (2)     56,294   4(2)

6/21/99     300,000  Gymar, Inc.       Services   (2)     24,126   4(2)

7/20/99     100,000  Craig Saunar      Settlement (2)     85,000   4(2)
                                       of Claim
7/20/99      50,000  Fred Smith        Services   (2)      5,000   4(2)

9/23/99     700,000  Dan/Colette Seifer  Cash Sale (2)    35,000   4(2)
9/23/99     100,000  John Prentice     Conversion (2)      4,000   4(2)
                                       of LoanS
9/27/99   2,104,473  Daniel Mendez    Services   (4)(8) 169,410   4(2)

9/27/99   2,304,737  Daniel Mendez    Services   (4)(8) 185,531   4(2)

9/27/99   2,850,970  Daniel Mendez    Services   (4)(8) 229,503   4(2)

<PAGE>

</TABLE>
<TABLE>
<S>       <C>        <C>               <C>        <C>    <C>      <C>
9/27/99   1,406,536  Albert Figueroa   Services   (4)(8) 113,226   4(2)

9/27/99     817,449  Albert Figueroa   Services   (4)(8)  65,805   4(2)

9/27/99   1,295,896  Albert Figueroa   Services   (4)(8) 104,320   4(2)

9/27/99   1,438,519  Deng Shan         Services   (4)(8) 115,801   4(2)

9/27/99     817,449  Deng Shan         Services   (4)(8)  65,805   4(2)

9/27/99   1,295,896  Deng Shan         Services   (4)(8) 104,320   4(2)

9/27/99     746,522  Bernard Kruer     Services   (2)(8)  60,095   4(2)

9/27/99     572,213  Bernard Kruer     Services   (2)(8)  46,063   4(2)

9/27/99     575,407  Gymar, Inc.       Services   (2)(8)  46,320   4(2)

9/27/99     245,234  Gymar, Inc.       Services   (2)(8)  19,741   4(2)

9/27/99     287,989  Albert Figueroa   Conversion (5)     23,160   4(2)
                                       of Loan
9/27/99   2,385,714  Daniel Mendez     Conversion (5)    191,860   4(2)
                                       of Loan
9/27/99     184,164  Deng Shan         Conversion (5)     14,811   4(2)
                                       of Loan
9/27/99   1,957,356  Proton Technology Conversion (5)    157,441   4(2)
                     Corporation, Ltd  of Loan
11/24/99    424,343  Daniel Mendez    Services   (6)    49,012   4(2)

11/24/99    282,884  Albert Figueroa   Services   (6)    32,673   4(2)

11/24/99    282,884  Deng Shan         Services   (6)    32,673   4(2)

11/24/99    169,737  Bernard Kruer     Services   (2)    19,605   4(2)

11/24/99    113,147  Gymar, Inc.       Services   (2)    13,608   4(2)

11/24/99     68,023  Daniel Mendez     Conversion (7)     7,857   4(2)
                                       of Loan
11/24/99     50,649  Albert Figueroa   Conversion (7)     5,850   4(2)
                                       of Loan
11/24/99     11,343  Deng Shan         Conversion (7)     1,310   4(2)
                                       of Loan
11/24/99     20,000  Todd Ream         Services     (2)     3,000   4(2)
11/24/99     60,000  Fred N. Smith     Services   (2)     8,500   4(2)
12/ 8/99    800,000  Wan Lin           Conversion
                                       Of Loan    (2)    50,000   4(2)
       -------------                                  ----------
         28,519,534                                  S2,387,980
</TABLE>
The issued securities were valued as follows:
-(1) Stock issuances signified by Footnote (1) to Daniel J. Mendez and Albert
N.  Figueroa  on  10/27/97, 2/4/98 and 7/21/98 were  valued  at  the  average
closing  market  price  for  the month during which  the  stock  was  issued,
discounted by 30%.
<PAGE>

-(2)  The stock issuances signified by Footnote (2) were negotiated at  arms-
length to individuals not officers, directors or affiliates, and not tied  to
any specific price per share value.

-(3)  Stock  issuances  signified by Footnote  (3)  on  6/21/99  were  issued
pursuant  to  a contractual obligation requiring issuance of said  shares  on
1/30/98.  The shares were valued at the average closing market price for June
1999 which was $0.1148, discounted by 30% ($.0804).

-(4)  Stock  issuances  signified by Footnote  (4)  on  9/27/99  were  issued
pursuant  to  a  settlement agreement for past services  performed  over  the
period  1/1/97 through 9/30/99. The shares were valued at the average closing
market  price  for  September  1999 which  was  $0.1150,  discounted  by  30%
($0.0805).

-(5) Stock issuances signified by Footnote (5) on 9/27/99 for "conversion  of
loan"  were  valued  at the average closing market price for  September  1999
which was $0.1150, discounted by 30% ($0.0805).

-(6)  Stock  issuances  signified by Footnote (6)  on  11/24/99  were  issued
pursuant  to  a  settlement agreement for past services  performed  over  the
period  10/1/99  through  11/30/99. The shares were  valued  at  the  average
closing market price for November 1999 which was $0.1650, discounted  by  30%
($0.1155).

-(7) Stock issuances signified by Footnote (7) on 11/24/99 for "conversion of
loan"  were  for loans made prior to 9/30/99 and were valued at  the  average
closing market price for November 1999 which was $0.1650, discounted  by  30%
($0.1155).

-(8) The individual employees or key service providers receiving these shares
for  "Services"  signified  by Footnote (8), each performed  substantial  and
necessary  services for the Company during fiscal 1997, 1998  and  11  months
1999,  for  which they had not been compensated; and, with respect  to  which
they  had  continuing claims for compensation.  The individuals on  September
27,  1999, entered into an agreement with the Company, wherein each  claimant
agreed  to  accept, and the Company agreed to issue, the specified number  of
shares  of  the  Company's  restricted common  stock  in  full  and  complete
satisfaction of the claim.


Item 11.  DESCRIPTION OF REGISTRANT'S SECURITIES TO BE REGISTERED

The  Company has only one type of security, Common Stock with par value equal
to  $0.001.   Prior to September 27, 1999, there were 200,000,000  authorized
shares  of  Common Stock of which 186,013,021 shares were issued/outstanding.
However, on September 27, 1999, the Board of Directors passed a resolution to
increase the authorized shares to 400,000,000 with a par value of $0.001.  On
October  4, 1999, shareholders representing a majority of outstanding  shares
approved the resolution.  A certificate of amendment was filed in the  public
records of the State of Nevada on October 7, 1999.  Management has no current
plans  to use additional authorized common stock for the purpose of purchases
or acquisitions.

<PAGE>

The holders of Common Stock are entitled to one vote for each share held of
record on all matters submitted to a vote of the holders of Capital Stock.
Holders of Common Stock are entitled to receive ratably such dividends as may
be declared by the Board of Directors out of funds legally available
therefor.  In the event of a liquidation, dissolution or winding up of the
Company, the holders of Common Stock are entitled to share ratably in all
assets remaining after payment of liabilities and the liquidation preference
of any preferred stock that might be issued in the future.  Holders of Common
Stock have no preemptive or subscription rights, and there are no redemption
or conversion rights with respect to such shares.  All outstanding shares of
Common Stock are fully paid and nonassessable.


Item 12.     INDEMNIFICATION OF DIRECTORS AND OFFICERS

The Nevada General Corporation Law, (NRS 78.7502) under which the Company is
incorporated, gives a corporation the power to indemnify any of its
directors, officers, employees, or agents who are sued by reason of their
service in such capacity to the corporation provided that the director,
officer, employee, or agent acted in good faith and in a manner he believed
to be in or not opposed to the best interests of the corporation.  With
respect to any criminal action, he must have had no reasonable cause to
believe his conduct was unlawful.

INSOFAR AS INDEMNIFICATION FOR LIABILITIES ARISING UNDER THE SECURITIES ACT
OF 1933 MAY BE PERMITTED TO DIRECTORS, OFFICERS AND CONTROLLING PERSONS OF
THE REGISTRANT PURSUANT TO THE FOREGOING PROVISIONS OR OTHERWISE, THE
REGISTRANT HAS BEEN ADVISED THAT IN THE OPINION OF THE SECURITIES AND
EXCHANGE COMMISSION SUCH INDEMNIFICATION IS AGAINST PUBLIC POLICY AS
EXPRESSED IN THE ACT AND IS, THEREFORE, UNENFORCEABLE, IN THE EVENT THAT A
CLAIM FOR INDEMNIFICATION AGAINST SUCH LIABILITIES (OTHER THAN THE PAYMENT BY
THE REGISTRANT OF EXPENSES INCURRED OR PAID BY A DIRECTOR, OFFICER OR
CONTROLLING PERSON OF THE REGISTRANT IN THE SUCCESSFUL DEFENSE OF ANY ACTION,
SUIT OR PROCEEDING) IS ASSERTED BY SUCH DIRECTOR, OFFICER OR CONTROLLING
PERSON IN CONNECTION WITH THE SECURITIES BEING REGISTERED, THE REGISTRANT
WILL, UNLESS IN THE OPINION OF ITS COUNSEL THE MATTER HAS BEEN SETTLED BY
CONTROLLING PRECEDENT, SUBMIT TO A COURT OF APPROPRIATE JURISDICTION THE
QUESTION WHETHER SUCH INDEMNIFICATION BY IT IS AGAINST PUBLIC POLICY AS
EXPRESSED IN THE ACT AND WILL BE GOVERNED BY THE FINAL ADJUDICATION OF SUCH
ISSUE.

<PAGE>

Item 13.     FINANCIAL STATEMENTS
AND SUPPLEMENTARY DATA

              INDEPENDENT AUDITOR'S REPORT (US $)

To the Shareholders and Board of Directors
Largo Vista Group, Ltd.

I  have  audited  the accompanying consolidated balance sheet of Largo  Vista
Group, Ltd.  as of December 31, 1999, and the related consolidated statements
of  operations, changes in stockholders' equity <deficit> and cash flows  for
each  of  the  two  years  in  the period ended  December  31,  1999.   These
consolidated  financial  statements  are  the  responsibility  of   Company's
management.  My responsibility is to express an opinion on these consolidated
financial statements based on my audits.

I  conducted  my  audits  in  accordance  with  generally  accepted  auditing
standards  in the United States of America.  Those standards require  that  I
plan and perform the audit to obtain reasonable assurance about whether   the
financial  statements are free of 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.  I believe  that  my
audits provide a reasonable basis for my opinion.

In  my  opinion,  the consolidated financial statements  referred  to   above
present  fairly,  in  all   material  respects,  the  consolidated  financial
position of Largo Vista Group, Ltd.  as of December 31, 1999, and results  of
its  operations and its cash flows  for each of the two years in  the  period
ended  December  31,  1999, in conformity with generally accepted  accounting
principles.

The  accompanying  consolidated  financial  statements  have  been   prepared
assuming that the Company will continue as a going concern.  As discussed  in
Note  2  to  the consolidated financial statements, the Company has  suffered
significant  recurring losses from operations that raises  substantial  doubt
about  its  ability  to continue as a going concern.  Management's  plans  in
regard to these matters are also described in Note 2.  Significant litigation
uncertainties also exist as described in Note 5.  The consolidated  financial
statements do not include any adjustments that might result from the  outcome
of these  uncertainties.


Beverly Hills, California
February 29,2000

<PAGE>
<TABLE>
                           Largo Vista Group, Ltd.
                         Consolidated Balance Sheet
                              December 31, 1999


                             ASSETS
<S>                                        <C>
Current Assets
 Cash                                        $     16,379
 Inventories                                      163,782
 Prepaid expenses and
  advances to suppliers                            80,562

Total current assets                              260,723

Fixed assets
 Property and equipment                         1,099,280
 <Less> accumulated depreciation                 <323,106>
Total fixed assets                                776,174

Other Assets
 Other receivable                                  40,976
 Deferred expenses                                 32,094
 Other                                            163,389
Total other assets                                236,459
                                             $  1,273,356
                                             ------------
</TABLE>
<TABLE>
         LIABILITIES AND SHAREHOLDERS' EQUITY <DEFICIT>
<S>                                         <C>
Current Liabilities
 Accounts payable                            $    707,960
 Accrued expenses                                 356,779
 Taxes Payable                                    120,803
 Notes Payable                                  1,750,148
 Advances and Other                             1,511,330

Total current liabilities                       4,447,020

Litigation contingencies   (Note 5)

Shareholders' Equity <Deficit>
 Common Stock, 400,000,000 shares
 authorized; .001 par value;
 212,382,555 shares issued and
 outstanding                                      212,383
 Additional Paid-in Capital                    10,996,991
 Retained earnings <deficit>                  <14,383,038>
Total shareholders' equity <deficit>           <3,173,664>
                                             $  1,273,356
                                             ------------
</TABLE>
  See accompanying notes to consolidated financial statements.
<PAGE>
<TABLE>
                    Largo Vista Group, Ltd.
             Consolidated Statements of Operations


                                     Year December 31,
                                      1999         1998
<S>                                <C>          <C>
Revenue                            $ 1,616,961   $1,476,971
Cost of sales                        1,153,863    1,353,537

Gross profit <loss>                    463,098      123,434
Expenses:
General and administrative
and Other                          2,589,407     1,085,637


<Loss> From operations             <2,126,309>     <962,203>

Other income <expense>:
Interest <expense>                   <220,271>     <198,652>
Other income                          148,092       141,229
<Loss> before
 income taxes                      <2,198,488>   <1,019,626>

Income taxes                                -             -

NET <LOSS>                        $<2,198,488>  $<1,019,626>

Basic <LOSS> per share of
  common stock                    $      <.01>  $      <.01>

Diluted <LOSS> per share of
  common stock                    $      <.01>  $      <.01>

Weighted average
 shares outstanding               201,733,334   181,565,237

</TABLE>
  See accompanying notes to consolidated financial statements.
<PAGE>
<TABLE>
                    Largo Vista Group, Ltd.
             Consolidated Statements of Cash Flows



                                       Year December 31,
                                       1999         1998
<S>                                <C>           <C>
Cash flows from <for>
 Operating activities:
Net <loss>                         $<2,198,488>  $<1,019,626>
Adjustments to reconcile
net<loss> to cash flows
<for> operating activities:
  Depreciation                          45,319        67,926
  Stock for services and debt        2,562,120       648,057
Changes in assets and
  liabilities:
Inventories                             62,603       491,902
Accounts payable                      <184,224>     <380,603>
Accrued expenses                       159,764       452,284
Notes and taxes
payable and other                     <444,243>      <346,121>

Net cash flows <for>from
 operating activities:                   2,851       <86,181>
Cash flows from
 investing activities:                       -             -
Cash flows from
  financing activities:
                                             -             -

Increase <decrease> in cash              2,851       <86,181>
Cash at beginning of period             13,528        99,709
Cash at end of period              $    16,379   $    13,528
                                   -----------   -----------
Supplemental cash
 flows information:

Cash paid for interest             $        -    $         -
                                   ----------    -----------

Cash paid for taxes                $        -    $         -
                                   ----------    -----------
Non-cash financing
  transactions:
  Shares for services
  and debt                         $2,562,120    $   648,057
                                   ----------    -----------
</TABLE>
  See accompanying notes to consolidated financial statements.
<PAGE>
<TABLE>
                    Largo Vista Group, Ltd.
     Consolidated Statements of Changes in Stockholders' Equity <Deficit>

                                     Additional    Retained
                 Common   Stock       Paid-In      Earnings
                 Shares    Amount     Capital     <Deficit>        Total

<S>            <C>         <C>      <C>          <C>           <C>
Balance at
Dec. 31, 1997  179,923,963 $179,924 $ 7,819,273  $<11,164,924> $<3,165,727>

Common shares
issued for
services and
debt
extinguishment
during the
year ended
Dec. 31, 1998    3,939,058    3,939     644,118             -      648,057

Net <loss>
for the year
ended
Dec. 31, 1998            -        -           -    <1,019,626>  <1,019,626>

Balance at
Dec. 31, 1998  183,863,021  183,863   8,463,391   <12,184,550>  <3,537,296>

Common shares
issued for
services and
debt
extinguishment
during the
year ended
Dec. 31, 1999   28,519,534   28,520   2,533,600             -    2,562,120

Net <loss>
for the year
ended Dec.
31, 1999                 -        -           -    <2,198,488>  <2,198,488>

Balance at
Dec. 31, 1999  212,382,555 $212,383 $10,996,991  $<14,383,038> $<3,173,664>
               ----------- -------- -----------  ------------  -----------
</TABLE>

         See accompanying notes to consolidated financial statements.
<PAGE>

                    Largo Vista Group, Ltd.
           Notes to Consolidated Financial Statements
                       December 31, 1999

Note 1 - Summary of Significant Accounting Policies

Nature of Operations and basis of consolidation

      The  consolidated  financial statements include the accounts  of  Largo
Vista   Group,  Ltd.  (the  "Company"),  a  Nevada  corporation,   (date   of
incorporation was January 16, 1987) its wholly-owned subsidiary, Largo Vista,
Inc.,  a California corporation, (date of incorporation was October 12, 1988)
its   wholly-owned  subsidiary  Everlasting  International,  Ltd.,  a  Nevada
Corporation, (date of incorporation was January 25, 1995) and Kunming  Xinmao
Petrochemical  Industrial  Co., Ltd., a Chinese entity  (see  Note  4).   The
Chinese  entity  operates  a natural gas distribution  business.  The  United
States  entities have no operations.  Intercompany accounts and  transactions
have  been  eliminated.   All  amounts  in  these  financial  statements  and
footnotes are in United States dollars.

Cash and Cash Equivalents

      Cash equivalents consist of funds invested in money market accounts and
in investments with a maturity of three months or less when purchased. During
the  periods  presented, and at December 31, 1999, the Company  had  no  cash
equivalents.

Provision for Bad Debt

      The  financial statements are prepared using an allowance for bad debts
in  conformity with generally accepted accounting principles. At December 31,
1999 the Company had no significant provision for bad debts.

Loss per Share

      The  computation  of loss per share of common stock  is  based  on  the
weighted average number of shares outstanding during the periods presented.

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 amounts reported in financial  statements  and
accompanying notes.  Actual results could  differ from those estimates.

<PAGE>

                           Largo Vista Group, Ltd.
           Notes to Consolidated Financial Statements (continued)
                              December 31, 1999

Note 1 - Summary of Significant Accounting Policies (continued)

Valuation of shares for services

      Shares issued for services were valued based upon estimated fair market
value  of  services.   The  policy  for  "valuation  of  shares"  applies  to
transactions  with both employees and non-employees.  The policy  is  one  of
negotiation  between the parties.  In the case of non-employees, final  value
is  approved  by a majority of the Board of Directors; and, in  the  case  of
employees,  final value is approved by a majority of the Board  of  Directors
with  the  interested  director abstaining.  During  the  periods  presented,
United  States management's compensation has primarily been in  the  form  of
issuance of shares by the company.

Inventory

     Inventory, valued at lower of cost of market, on the first-in, first-out
basis consists primarily of liquid natural gas.

Property and equipment and depreciation

      Property and equipment consists of a building, storage tanks,  railroad
cars  and  miscellaneous equipment. All property and equipment is located  in
China.   Depreciation is primarily by the straight line method over estimated
useful lives, generally of approximately five to thirty years.

Impairment of Assets

      Long-lived  assets  used  in  operations are  accessed  for  impairment
whenever  changes in facts and circumstances indicate a possible  significant
deterioration in the future cash flows expected to be generated by  an  asset
group.   If, upon review, the sum of the undiscounted pretax cash  flows  are
less  than  the  carrying value of the asset group,  the  carrying  value  is
written  down  to  estimated fair value.  Individual assets are  grouped  for
impairment purposes at the lowest level for which there are identifiable cash
flows  that  are  largely independent of the cash flows of  other  groups  of
assets.

      The  fair value of impaired assets is determined based on quoted market
prices  in  active  markets,  if available, or upon  the  present  values  of
expected  future cash flows using discount rates commensurate with the  risks
involved  in  the asset group. Long-lived assets committed by management  for
disposal are accounted for at the lower of amortized cost or fair value, less
cost to sell.


Deferred Expenses

      Deferred expenses consist primarily of deposits including on telephone,
utilities and office facilities.

<PAGE>

                           Largo Vista Group, Ltd.
           Notes to Consolidated Financial Statements (continued)
                              December 31, 1999

Note 1 - Summary of Significant Accounting Policies (continued)

Other Assets

      Other assets consist primarily of slower moving inventory items,  which
have  the  appropriate  fair market value, but to be conservative  have  been
classified as non-current.

Notes payable

       Notes  payable  consists  primarily  of  unsecured  short-term  loans,
primarily non-interest bearing demand notes.  A loan of $30,000 is payable to
an entity controlled by the Company's majority shareholder.

Advances and other

      Advances  and  other consists primarily of advances  to  suppliers  and
miscellaneous payables, primarily non-interest bearing.

Income Taxes

      The  Company  records  its  income tax  provision  in  accordance  with
Statement  of Financial Accounting Standards No. 109, "Accounting for  Income
Taxes".  (See Note 3).

Foreign currency translation

      During  the  periods presented, the Company had no significant  foreign
currency transaction gains or losses.

Revenue recognition

      The Company recognizes revenue upon delivery or pick up of natural gas.
There is not a significant amount of credit transactions.

Fair Value of Financial Instruments

      Pursuant  to  SFAS No. 107, Disclosures about Fair Value  of  Financial
Instruments,  the  Company is required to estimate  the  fair  value  of  all
financial  instruments included on its balance sheet at  December  31,  1999.
The  Company considers the carrying value of such amounts in the consolidated
financial  statements to approximate their expected realization and  interest
rates,  which approximate current market rates. During the periods  presented
and at December 31, 1999 the Company had no financial instruments.

<PAGE>
                           Largo Vista Group, Ltd.
           Notes to Consolidated Financial Statements (continued)
                              December 31, 1999

Note 1 - Summary of Significant Accounting Policies (continued)

Comprehensive Income <Loss>

       In   fiscal  1999,  the  Company  adopted  SFAS  No.  130,   Reporting
Comprehensive Income.  This statement establishes standards for the reporting
of  comprehensive income and its components in a financial statement that  is
displayed  with  the  same  prominence as other  financial  statements.   The
adoption  of  SFAS No. 130 required no additional disclosure for the  Company
and did not have any effect on the Company's financial position, as there was
no difference between comprehensive loss and the net loss as reported.

Segment Disclosures

      In  Fiscal  1999,  the Company adopted SFAS No. 131, Disclosures  About
Segments   of   an  Enterprise  and  Related  Information.   This   Statement
establishes  standards  for  the way companies report  information  regarding
operating segments in annual financial statements.  The adoption of SFAS  No.
131 required no additional disclosure for the Company as the Company operated
in one principal business segment.

Reclassifications

       Certain   items  in  prior  period  financial  statements  have   been
reclassified to conform with 1999 classifications.


Note  2  -  Basis  of  presentation and considerations related  to  continued
existence (going concern)

      The   Company's financial statements have been presented on  the  basis
that it is a going concern, which contemplates the realization of assets  and
the  satisfaction  of  liabilities in the normal  course  of  business.   The
Company incurred net losses of $2,198,488 and $1,019,626 for the years  ended
December 31, 1999, and 1998, respectively.  Additionally, current liabilities
exceed  current   assets by $4,186,297 at December 31, 1999.  These  factors,
among others, raise substantial doubt as to the Company's ability to continue
as a going concern.

      The  Company's  management intends to raise additional operating  funds
through  equity  and/or debt offerings.  However, there can be  no  assurance
management will be successful in this endeavor.
<PAGE>


                           Largo Vista Group, Ltd.
           Notes to Consolidated Financial Statements (continued)
                              December 31, 1999

Note 3 - Income taxes

      The  Company  records  its  income tax  provision  in  accordance  with
Statement  of Financial Accounting Standards No. 109, "Accounting for  Income
Taxes"  which  requires the use of the  liability method  of  accounting  for
deferred income taxes.

      As  the  Company  has not generated taxable income since  inception  no
provision  for  income taxes has been provided.  At December  31,  1999,  the
Company  did  not have any significant tax net  operating loss  carryforwards
(tax  benefits  resulting  from   losses for tax  purposes  have  been  fully
reserved  due to the uncertainty of a going concern).  At December 31,  1999,
the Company did not have any significant deferred tax liabilities or deferred
tax assets.

<PAGE>
<TABLE>





Note 4 - Chinese subsidiary

                  Kunming Xinmao Petrochemical
                Industrial Co., Ltd. ("Xinmao")
               (Stated in United States Dollars)
           Condensed Balance Sheet-December 31, 1999
                (Separate Financial Statements)


                             ASSETS

<S>                                      <C>
Current Assets
 Cash                                       $    15,234
 Inventories                                    163,782
 Prepaid expenses;
  advances to suppliers; other                   82,085
Total current assets                            261,101

Fixed assets
 Property and equipment                       1,099,280
 <Less> accumulated depreciation               <323,106>
Total fixed assets                              776,174

Other Assets
 Other receivable                                39,453
 Deferred expense                                32,094
 Other                                          163,389
Total other assets                              234,936
                                            $ 1,272,211
                                            -----------
</TABLE>
<TABLE>
         LIABILITIES AND SHAREHOLDERS' EQUITY <DEFICIT>
<S>                                      <C>
Current Liabilities
 Accounts payable                           $   617,538
 Accrued expenses                               319,279
 Taxes payable                                   68,355
 Notes payable                                1,750,148
 Advances and other                           1,471,987
Total current liabilities                     4,227,307
Shareholders' Equity <Deficit>               <2,955,096>
                                            $ 1,272,211
                                            -----------
</TABLE>
<PAGE>
<TABLE>
                   Largo Vista Group, Ltd.
    Notes to Consolidated Financial Statements (continued)
                      December 31, 1999

Note 4 - Chinese subsidiary (continued)

                 Kunming Xinmao Petrochemical
                    Industrial  Co., Ltd.
              (Stated in United States Dollars)
              Condensed Statement of Operations
               (Separate Financial Statements)


                               Year Ended December 31,
                                  1999        1998
<S>                          <C>           <C>
Revenue                       $ 1,616,961  $ 1,476,971
Cost of sales                   1,153,863    1,353,537
Gross profit                      463,098      123,434

Expenses
Writedown of receivables                -       53,849
Selling, general and
administrative expenses           471,644      451,922

<Loss> from operations             <8,546>    <382,337>

Interest <expense>               <220,271>    <198,652>
Other income                      148,092      141,229

NET <LOSS>                    $   <80,725> $  <439,760>
                              -----------  -----------
</TABLE>
      The financial information in Note 4 has been prepared in Renminbi,  the
national  currency  of  the  People's Republic  of  China.   Solely  for  the
convenience of the reader, the financial statements have been translated into
United  States  dollars  at  the rate of U.S. $1.00=RMB  8.28  quoted  as  of
December  31, 1999.  No representation is made that the Renminbi  could  have
been,  or could be, converted into United States dollars at that rate  or  at
any other certain rate on December 31, 1999, or any other date.

     From inception (January 16, 1987) to date (February 29, 2000) the United
States  entities of the Company have had no significant assets,  no  revenues
and  no  operations.  During this period however, the United States  entities
have incurred significant losses.

      As  of  December  31, 1999 the Company owns 66.67%  of  Kunming  Xinmao
Petrochemical Industrial Co. Ltd.

      Beginning  Retained Earnings (at December 31, 1997) of  Kunming  Xinmao
Petrochemical   Industrial  Co.  Ltd.  included  a  loss   carry-forward   of
approximately  $2  million  already on the books  at  the  time  the  Company
acquired  Xinmao.  This item was a carry over from the acquisition  by  Largo
Vista  Group, Ltd., and not a result of operations under the control of Largo
Vista Group Ltd..

<PAGE>

Note 5 - Litigation Contingencies

YONGHENG  (Everlasting) NEVADA INTERNATIONAL CO., LTD.,             Plaintiff
vs. CHAN MAU TAK, Defendant

Case HCA 14528/98

      The  above matter was filed IN THE HIGH COURT OF THE HONG KONG  SPECIAL
ADMINISTRATION REGION, and is the Court of First Instance.

      This  lawsuit  was brought by Everlasting International,  Ltd.  ("EIL")
against Chan Mao Tak ("CMD") for breach of the purchase agreement wherein EIL
acquired the assets of the Xinmao Company from CMD.

     EIL is a wholly owned subsidiary of Largo Vista Group, Ltd.

      This  lawsuit  is  brought  on  the  basis  that  CMD  made  fraudulent
representations  concerning  the assets of the Kunming  Xinmao  Petrochemical
Co., Ltd. The court ordered an Interlocutory Judgment on 10/14/98 in favor of
EIL for 1 million HK$ plus damages incurred plus interest @ 13.08% per annum.

      One million HK$ is the penalty provided in the Transfer Agreement.  CMD
has  filed  an  appeal, based on failure of service of process.   It  is  not
likely  that  Xinmao has any liability in the matter since no  complaint  has
been filed against it, however this is not certain.

      If  EIL prevails, management anticipates recovery of the 1 million  HK$
plus  the  value of the assets misrepresented in the Transfer Agreement.  CMD
owns  and operates Panzhihur Petrochemical Industry Co., Ltd., a company with
assets including an LPG depot.  The resolution of this matter is uncertain.

Note 6 - Related Party Transactions

      The  common shares issued by the Company for services, and related debt
extinguishment, during 1999 and 1998 were issued primarily to  the  Company's
directors, officers and shareholders.

<PAGE>
        INDEPENDENT AUDITOR'S REPORT (Chinese Renminbi)

To the Shareholders and Board of Directors
Largo Vista Group, Ltd.

I  have  audited  the accompanying consolidated balance sheet of Largo  Vista
Group, Ltd.  as of December 31, 1999, and the related consolidated statements
of  operations, changes in stockholders' equity <deficit> and cash flows  for
each  of  the  two  years  in  the period ended  December  31,  1999.   These
consolidated  financial  statements  are  the  responsibility  of   Company's
management.  My responsibility is to express an opinion on these consolidated
financial statements based on my audits.

I  conducted  my  audits  in  accordance  with  generally  accepted  auditing
standards  in the United States of America.  Those standards require  that  I
plan and perform the audit to obtain reasonable assurance about whether   the
financial  statements are free of 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.  I believe  that  my
audits provide a reasonable basis for my opinion.

In  my  opinion,  the consolidated financial statements  referred  to   above
present  fairly,  in  all   material  respects,  the  consolidated  financial
position of Largo Vista Group, Ltd.  as of December 31, 1999, and results  of
its  operations and its cash flows  for each of the two years in  the  period
ended  December  31,  1999, in conformity with generally accepted  accounting
principles.

The  accompanying  consolidated  financial  statements  have  been   prepared
assuming that the Company will continue as a going concern.  As discussed  in
Note  2  to  the consolidated financial statements, the Company has  suffered
significant  recurring losses from operations that raises  substantial  doubt
about  its  ability  to continue as a going concern.  Management's  plans  in
regard to these matters are also described in Note 2.  Significant litigation
uncertainties also exist as described in Note 5.  The consolidated  financial
statements do not include any adjustments that might result from the  outcome
of these  uncertainties.



Beverly Hills, California
February 29,2000

<PAGE>
<TABLE>
                    Largo Vista Group, Ltd.
                   Consolidated Balance Sheet
                       December 31, 1999
           United States Dollars and Chinese Renminbi


                             ASSETS
                                           (US$)       (Chinese
                                                       Renminbi)
<S>                                  <C>           <C>
Current Assets
 Cash                                 $     16,379       135,618
 Inventories                               163,782     1,356,115
 Prepaid expenses and
  advances to suppliers                     80,562       667,053
Total current assets                       260,723     2,158,786
Fixed assets
 Property and equipment                  1,099,280     9,102,038
 <Less> accumulated depreciation          <323,106>  < 2,675,318>

Total fixed assets                         776,174     6,426,720

Other Assets
 Other receivable                           40,976       339,281
 Deferred expenses                          32,094       265,738
 Other                                     163,389     1,352,861
Total other assets                         236,459     1,957,880
                                      $  1,273,356    10,543,386
                                      ------------   -----------
</TABLE>
<TABLE>
         LIABILITIES AND SHAREHOLDERS' EQUITY <DEFICIT>
<S>                                <C>              <C>
Current Liabilities
 Accounts payable                    $    707,960      5,861,909
 Accrued expenses                         356,779      2,954,130
 Taxes Payable                            120,803      1,000,249
 Notes Payable                          1,750,148     14,491,225
 Advances and Other                     1,511,330     12,513,812
Total current liabilities               4,447,020     36,821,325

Litigation contingencies   (Note 6)

Shareholders' Equity <Deficit>
 Common Stock, 400,000,000 shares
 authorized; .001 par value;
 212,382,555 shares issued and
 outstanding                             212,383      1,758,531
 Additional Paid-in Capital           10,996,991     91,055,085
 Retained earnings <deficit>         <14,383,038>  <119,091,555>
Total shareholders' equity <deficit>  <3,173,664>   <26,277,939>
                                    $  1,273,356     10,543,386
                                    ------------  -------------

</TABLE>
  See accompanying notes to consolidated financial statements.
<PAGE>
<TABLE>

                    Largo Vista Group, Ltd.
             Consolidated Statements of Operations
                       (Chinese Renminbi)



                                      Year December 31,
                                      1999         1998
<S>                                <C>           <C>
Revenue                             13,388,437   12,229,320
Cost of sales                        9,553,986   11,207,286

Gross profit <loss>                  3,834,451    1,022,034
Expenses:
General and administrative
and Other                          21,440,290    8,989,074


<Loss> From operations             <17,605,839>  <7,967,040>

Other income <expense>:
Interest <expense>                  <1,823,844>  <1,644,839>
Other income                         1,226,202    1,169,376
<Loss> before
 income taxes                      <18,203,481>  <8,442,503>

Income taxes                                 -            -

NET <LOSS>                         <18,203,481>  <8,442,503>

Basic <LOSS> per share of
  common stock                    $      <.09>  $      <.09>

Diluted <LOSS> per share of
  common stock                    $      <.09>  $      <.09>

Weighted average
 shares outstanding                201,733,334  181,565,237

</TABLE>
  See accompanying notes to consolidated financial statements.
<PAGE>
<TABLE>
                    Largo Vista Group, Ltd.
             Consolidated Statements of Cash Flows
                       (Chinese Renminbi)



                                        Year December 31,
                                         1999        1998
<S>                                   <C>        <C>
Cash flows from <for>
 Operating activities:
Net <loss>                          <18,203,481>  <8,442,503>
Adjustments to reconcile
net<loss> to cash flows
<for> operating activities:
  Depreciation                          375,241      562,427
  Stock for services and debt        21,214,354    5,365,912
  Changes in assets and
  liabilities:
Inventories                             518,353    4,072,949
Accounts payable                     <1,525,375>  <3,151,393>
Accrued expenses                      1,322,846    3,744,912
Notes and taxes
payable and other                    <3,678,332>  <2,865,883>

Net cash flows <for>
 operating activities:                   23,606     <713,579>
Cash flows from
 investing activities:                        -            -
Cash flows from
  financing activities:

Increase <decrease> in cash              23,606     <713,579>
Cash at beginning of period             112,012      825,591
Cash at end of period                   135,618      112,012
                                   ------------  -----------
Supplemental cash
 flows information:

Cash paid for interest                        -            -
                                   ------------  -----------

Cash paid for taxes                           -            -
                                   ------------  -----------
Non-cash financing
  transactions:
  Shares for services
   and debt                          21,214,354    5,365,912
                                   ------------  -----------
</TABLE>
  See accompanying notes to consolidated financial statements.
<PAGE>
<TABLE>

                           Largo Vista Group, Ltd.
    Consolidated Statements of Changes in Stockholders' Equity <Deficit>
                              Chinese Renminbi
                               (in thousands)

                                    Additional    Retained
                 Common   Stock      Paid-In      Earnings
                 Shares    Amount    Capital     <Deficit>    Total
<S>            <C>           <C>    <C>        <C>         <C>
Balance at
Dec. 31, 1997  179,923,963   1,489   64,744     <92,446>   <26,213>

Common shares
issued for
services and
debt
extinguishment
during the
year ended
Dec. 31, 1998    3,939,058      33    5,333           -      5,366

Net <loss>
for the year
ended
Dec. 31, 1998            -       -        -      <8,443>    <8,443>

Balance at
Dec. 31, 1998  183,863,021   1,522   70,077    <100,889>   <29,290>

Common shares
issued for
services and
debt
extinguishment
during the
year ended
Dec. 31, 1999   28,519,534     236   20,978           -     21,214

Net <loss>
for the year
ended Dec.
31, 1999                 -       -        -     <18,203>   <18,203>

Balance at
Dec. 31, 1999  212,382,555   1,758   91,055    <119,092>   <26,279>
               -----------  ------   ------  ----------  ---------
</TABLE>
         See accompanying notes to consolidated financial statements.
<PAGE>

                           Largo Vista Group, Ltd.
           Notes to Consolidated Financial Statements
                       December 31, 1999
                       (Chinese Renminbi)

Note 1 - Summary of Significant Accounting Policies

Nature of Operations and basis of consolidation

      The  consolidated  financial statements include the accounts  of  Largo
Vista   Group,  Ltd.  (the  "Company"),  a  Nevada  corporation,   (date   of
incorporation was January 16, 1987) its wholly-owned subsidiary, Largo Vista,
Inc.,  a California corporation, (date of incorporation was October 12, 1988)
its   wholly-owned  subsidiary  Everlasting  International,  Ltd.,  a  Nevada
Corporation, and Kunming Xinmao Petrochemical Industrial Co., Ltd., a Chinese
entity  (see Note 4).  The Chinese entity operates a natural gas distribution
business.  The  United  States  entities have  no  operations.   Intercompany
accounts and transactions have been eliminated.

Cash and Cash Equivalents

      Cash equivalents consist of funds invested in money market accounts and
in investments with a maturity of three months or less when purchased. During
the  periods  presented, and at December 31, 1999, the Company  had  no  cash
equivalents.

Provision for Bad Debt

     The financial statements are prepared using an allowance for bad debts
in conformity with generally accepted accounting principles. At December 31,
1999 the Company had no significant provision for bad debts.

Loss per Share

      The  computation  of loss per share of common stock  is  based  on  the
weighted average number of shares outstanding during the periods presented.

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 amounts reported in financial  statements  and
accompanying notes.  Actual results could  differ from those estimates.

<PAGE>


                    Largo Vista Group, Ltd.
     Notes to Consolidated Financial Statements (continued)
                       December 31, 1999
                       (Chinese Renminbi)

Note 1 - Summary of Significant Accounting Policies (continued)


Valuation of shares for services

      Shares issued for services were valued based upon estimated fair market
value  of  services.   The  policy  for  "valuation  of  shares"  applies  to
transactions  with both employees and non-employees.  The policy  is  one  of
negotiation  between the parties.  In the case of non-employees, final  value
is  approved  by a majority of the Board of Directors; and, in  the  case  of
employees,  final value is approved by a majority of the Board  of  Directors
with  the  interested  director abstaining.  During  the  periods  presented,
United  States management's compensation has primarily been in  the  form  of
issuance of shares by the company.

Inventory

     Inventory, valued at lower of cost of market, on the first-in, first-out
basis consists primarily of liquid natural gas.

Property and equipment and depreciation

      Property and equipment consists of a building, storage tanks,  railroad
cars  and  miscellaneous equipment. All property and equipment is located  in
China.   Depreciation is primarily by the straight line method over estimated
useful lives, generally of approximately five to thirty years.

Impairment of Assets

      Long-lived  assets  used  in  operations are  accessed  for  impairment
whenever  changes in facts and circumstances indicate a possible  significant
deterioration in the future cash flows expected to be generated by  an  asset
group.   If, upon review, the sum of the undiscounted pretax cash  flows  are
less  than  the  carrying value of the asset group,  the  carrying  value  is
written  down  to  estimated fair value.  Individual assets are  grouped  for
impairment purposes at the lowest level for which there are identifiable cash
flows  that  are  largely independent of the cash flows of  other  groups  of
assets.

      The  fair value of impaired assets is determined based on quoted market
prices  in  active  markets,  if available, or upon  the  present  values  of
expected  future cash flows using discount rates commensurate with the  risks
involved  in  the asset group. Long-lived assets committed by management  for
disposal are accounted for at the lower of amortized cost or fair value, less
cost to sell.

Deferred Expenses

      Deferred expenses consist primarily of deposits including on telephone,
utilities and office facilities.

<PAGE>

                    Largo Vista Group, Ltd.
     Notes to Consolidated Financial Statements (continued)
                       December 31, 1999
                       (Chinese Renminbi)

Note 1 - Summary of Significant Accounting Policies (continued)

Other Assets

      Other assets consist primarily of slower moving inventory items,  which
have  the  appropriate  fair market value, but to be conservative  have  been
classified as non-current.

Notes payable

       Notes  payable  consists  primarily  of  unsecured  short-term  loans,
primarily  non-interest bearing demand notes.  A loan of $248,400 is  payable
to an entity controlled by the Company's majority shareholder.

Advances and other

      Advances  and  other consists primarily of advances  to  suppliers  and
miscellaneous payables, primarily non-interest bearing.

Income Taxes

      The  Company  records  its  income tax  provision  in  accordance  with
Statement  of Financial Accounting Standards No. 109, "Accounting for  Income
Taxes".  (See Note 3).

Foreign currency translation

      During  the  periods presented, the Company had no significant  foreign
currency transaction gains or losses.

Revenue recognition

      The Company recognizes revenue upon delivery or pick up of natural gas.
There is not a significant amount of credit transactions.

Fair Value of Financial Instruments

      Pursuant  to  SFAS No. 107, Disclosures about Fair Value  of  Financial
Instruments,  the  Company is required to estimate  the  fair  value  of  all
financial  instruments included on its balance sheet at  December  31,  1999.
The  Company considers the carrying value of such amounts in the consolidated
financial  statements to approximate their expected realization and  interest
rates,  which approximate current market rates. During the periods  presented
and at December 31, 1999 the Company had no financial instruments.

<PAGE>

                    Largo Vista Group, Ltd.
     Notes to Consolidated Financial Statements (continued)
                       December 31, 1999
                       (Chinese Renminbi)

Note 1 - Summary of Significant Accounting Policies (continued)

Comprehensive Income <Loss>

       In   fiscal  1999,  the  Company  adopted  SFAS  No.  130,   Reporting
Comprehensive Income.  This statement establishes standards for the reporting
of  comprehensive income and its components in a financial statement that  is
displayed  with  the  same  prominence as other  financial  statements.   The
adoption  of  SFAS No. 130 required no additional disclosure for the  Company
and did not have any effect on the Company's financial position, as there was
no difference between comprehensive loss and the net loss as reported.


Segment Disclosures

      In  Fiscal  1999,  the Company adopted SFAS No. 131, Disclosures  About
Segments   of   an  Enterprise  and  Related  Information.   This   Statement
establishes  standards  for  the way companies report  information  regarding
operating segments in annual financial statements.  The adoption of SFAS  No.
131 required no additional disclosure for the Company as the Company operated
in one principal business segment.

Reclassifications

       Certain   items  in  prior  period  financial  statements  have   been
reclassified to conform with 1999 classifications.


Note  2  -  Basis  of presentation and considerations related  to   continued
existence (going concern)

      The   Company's financial statements have been presented on  the  basis
that it is a going concern, which contemplates the realization of assets  and
the  satisfaction  of  liabilities in the normal  course  of  business.   The
Company  incurred net losses of 18,203,481 and 8,442,503 for the years  ended
December 31, 1999, and 1998, respectively.  Additionally, current liabilities
exceed  current   assets by 34,662,539 at December 31, 1999.  These  factors,
among others, raise substantial doubt as to the Company's ability to continue
as a going concern.


Note  2  -  Basis  of presentation and considerations related  to   continued
existence (going concern)

      The  Company's  management intends to raise additional operating  funds
through  equity  and/or debt offerings.  However, there can be  no  assurance
management will be successful in this endeavor.

<PAGE>

                    Largo Vista Group, Ltd.
     Notes to Consolidated Financial Statements (continued)
                       December 31, 1999
                       (Chinese Renminbi)

Note 3 - Income taxes

      The  Company  records  its  income tax  provision  in  accordance  with
Statement  of Financial Accounting Standards No. 109, "Accounting for  Income
Taxes"  which  requires the use of the  liability method  of  accounting  for
deferred income taxes.


      As  the  Company  has not generated taxable income since  inception  no
provision  for  income taxes has been provided.  At December  31,  1999,  the
Company  did  not have any significant tax net  operating loss  carryforwards
(tax  benefits  resulting  from   losses for tax  purposes  have  been  fully
reserved  due to the uncertainty of a going concern).  At December 31,  1999,
the Company did not have any significant deferred tax liabilities or deferred
tax assets.

<PAGE>
<TABLE>
Note 4 - Chinese subsidiary

                  Kunming Xinmao Petrochemical
                Industrial Co., Ltd. ("Xinmao")
           Condensed Balance Sheet-December 31, 1999
                (Separate Financial Statements)


                             ASSETS

<S>                                           <C>
Current Assets
 Cash                                            126,138
 Inventories                                   1,356,115
 Prepaid expenses;
  advances to suppliers; other                   679,664
Total current assets                           2,161,917

Fixed assets
 Property and equipment                        9,102,038
 <Less> accumulated depreciation              <2,675,318>
Total fixed assets                             6,426,720

Other Assets
 Other receivable                                326,671
 Deferred expense                                265,738
 Other                                         1,352,861
Total other assets                             1,945,270
                                              10,533,907
                                            ------------
</TABLE>
<TABLE>
         LIABILITIES AND SHAREHOLDERS' EQUITY <DEFICIT>
<S>                                        <C>
Current Liabilities
 Accounts payable                              5,113,215
 Accrued expenses                              2,643,630
 Taxes payable                                   565,979
 Notes payable                                14,491,225
 Advances and other                           12,188,052
Total current liabilities                     35,002,101

Shareholders' Equity <Deficit>               <24,468,194>
                                              10,533,907
                                            ------------
</TABLE>
<PAGE>
<TABLE>



                   Largo Vista Group, Ltd.
    Notes to Consolidated Financial Statements (continued)
                      December 31, 1999

Note 4 - Chinese subsidiary (continued)

                 Kunming Xinmao Petrochemical
                    Industrial  Co., Ltd.
                 (Stated in Chinese Renminbi)
              Condensed Statement of Operations
               (Separate Financial Statements)


                               Year Ended December 31,
                                  1999         1998
<S>                           <C>           <C>
Revenue                        13,388,437   12,229,320
Cost of sales                   9,553,986   11,207,286
Gross profit                    3,834,451    1,022,034

Expenses
Writedown of receivables                -      445,870
Selling, general and
administrative expenses         3,905,212    3,741,914

<Loss> from operations            <70,761>  <3,165,750>

Interest <expense>             <1,823,844>  <1,644,839>
Other income                    1,226,202    1,169,376

NET <LOSS>                       <668,403>  <3,641,213>
                              -----------  -----------
</TABLE>
      The financial information in Note 4 has been prepared in Renminbi,  the
national currency of the People's Republic of China. The conversion rate  was
U.S.  $1.00=RMB  8.28 quoted as of December 31, 1999.  No  representation  is
made  that  the Renminbi could have been, or could be, converted into  United
States  dollars  at that rate or at any other certain rate  on  December  31,
1999, or any other date.

      >From  inception  (January 16, 1987) to date (February  29,  2000)  the
United  States  entities  of the Company have had no significant  assets,  no
revenues  and  no operations.  During this period however, the United  States
entities have incurred significant losses.

      As  of  December  31, 1999 the Company owns 66.67%  of  Kunming  Xinmao
Petrochemical Industrial Co. Ltd.

      Beginning  Retained Earnings (at December 31, 1997) of  Kunming  Xinmao
Petrochemical   Industrial  Co.  Ltd.  included  a  loss   carry-forward   of
approximately  $2  million  already on the books  at  the  time  the  Company
acquired  Xinmao.  This item was a carry over from the acquisition  by  Largo
Vista  Group, Ltd., and not a result of operations under the control of Largo
Vista Group Ltd..

<PAGE>

                    Largo Vista Group, Ltd.
     Notes to Consolidated Financial Statements (continued)
                       December 31, 1999
                       (Chinese Renminbi)

Note 5- Litigation Contingencies

YONGHENG  (Everlasting) NEVADA INTERNATIONAL CO., LTD.,             Plaintiff
vs. CHAN MAU TAK, Defendant

Case HCA 14528/98

      The  above matter was filed IN THE HIGH COURT OF THE HONG KONG  SPECIAL
ADMINISTRATION REGION, and is the Court of First Instance.

      This  lawsuit  was brought by Everlasting International,  Ltd.  ("EIL")
against Chan Mao Tak ("CMD") for breach of the purchase agreement wherein EIL
acquired the assets of the Xinmao Company from CMD.

     EIL is a wholly owned subsidiary of Largo Vista Group, Ltd.

      This  lawsuit  is  brought  on  the  basis  that  CMD  made  fraudulent
representations  concerning  the assets of the Kunming  Xinmao  Petrochemical
Co., Ltd. The court ordered an Interlocutory Judgment on 10/14/98 in favor of
EIL for 1 million HK$ plus damages incurred plus interest @ 13.08% per annum.

      One million HK$ is the penalty provided in the Transfer Agreement.  CMD
has  filed  an  appeal, based on failure of service of process.   It  is  not
likely  that  Xinmao has any liability in the matter since no  complaint  has
been filed against it, however this is not certain.

      If  EIL prevails, management anticipates recovery of the 1 million  HK$
plus  the  value of the assets misrepresented in the Transfer Agreement.  CMD
owns  and operates Panzhihur Petrochemical Industry Co., Ltd., a company with
assets including an LPG depot.  The resolution of this matter is uncertain.

Note 6 - Related Party Transactions

      The  common shares issued by the Company for services, and related debt
extinguishment, during 1999 and 1998 were issued primarily to  the  Company's
directors, officers and shareholders.

<PAGE>

Item 14.     CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
             ACCOUNTING AND FINANCIAL DISCLOSURE

No Change in accounting or in accountants in the last 3 years.

Item 15.     FINANCIAL STATEMENTS AND EXHIBITS


(a)  Financial Statements

Report of Independent Certified Public Accountants 12/31/98

Consolidated Financial Statements 12/31/98, U.S. Dollars.

Consolidated Financial Statements 12/31/98, Renminbi.

Notes to Consolidated Financial Statements 12/31/98

Consolidated Financial Statements 9/30/99, U.S. Dollars.

Consolidated Financial Statements 9/30/99, Renminbi.

Notes to Consolidated Financial Statements 9/30/99

 (b)  Exhibits Required by Item 601 of Regulation SK

3(i) Articles of Incorporation of Largo Vista Group, Limited
3(ii) Bylaws of Largo Vista Group, Limited
3 (iii) Articles of Incorporation of Largo Vista Inc.
3 (iv) Bylaws of Largo Vista Inc.
3. (v) Articles of Incorporation of Everlasting International Limited
3 (vi) Bylaws of Everlasting International Limited

4.   Instruments defining rights of security holders, including
indentures.

None.


9.   Voting Trust Agreement

None


10   Material Contracts

No material contracts since the last filing.

<PAGE>

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) 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.

Signature                        Title                    Date



Acting President/ CEO     /s/Daniel J. Mendez          January 13, 2000
                             Daniel J. Mendez

Acting Secretary/Treasurer/s/Albert N. Figueroa        January 13, 2000
                             Albert N. Figueroa

Director                 /s/ Deng Shan                 January 13, 2000
Deng Shan
<PAGE>

The following are added to Form 10-KSB


None