U. S. SECURITIES AND EXCHANGE COMMISSION

                             Washington, D. C. 20549

                               FIRST AMENDMENT TO

                                   FORM 10-QSB

     [x] Quarterly report pursuant to Section 13 or 15(d) of the Securities
                             Exchange Act of 1934.
                  For the six month period ended June 30, 2000.


    [ ] Transition report pursuant to Section 13 or 15 (d) of the Securities
                             Exchange Act of 1934.

       For the transition period from ------------ to --------------


                         Commission File Number: 0-5367


                         D-LANZ DEVELOPMENT GROUP, INC.
        -----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)


          DELAWARE                                     11-1717709
       -------------------------------------------------------------------
       (State or other jurisdiction                  (I.R.S.Employer
       incorporation or organization                Identification No.)


                     400 GROVE STREET GLEN ROCK, NEW JERSEY
                   -------------------------------------------
                    (Address of principal executive offices)


                                  201-457-1221
                           ---------------------------
                           (Issuer's telephone number)



                                (Not Applicable)
              ----------------------------------------------------
              (Former name, former address and former fiscal year,
                          if changed since last report)


     Check whether the issuer

(1)  filed all reports required to be filed by Section 13 or 15(d) of the
Exchange  Act  during the past 12 months (or for such  shorter  period  that the
registrant was required to file such reports), and

(2)  has been subject to such filing  requirements for the past 90 days.
     Yes [X]  No [ ]

     State the number of shares  outstanding of each of the issuer's  classes of
common equity as of the latest practicable date:

     11,900,000 common shares as of June 30, 2000


     Transitional Small Business Disclosure Format Yes [  ]  No [X]

<PAGE>

                                     PART I
                              FINANCIAL INFORMATION

Item 1. Financial Statements

     The  condensed  financial  statements  for the periods  ended June 30, 2000
included  herein have been  prepared by D-Lanz  Development  Group,  Inc.,  (the
"Company")  without  audit,  pursuant  to  the  rules  and  regulations  of  the
Securities  and  Exchange  Commission  (the  "Commission").  In the  opinion  of
management,  the statements include all adjustments  necessary to present fairly
the  financial  position of the Company as of June 30, 2000,  and the results of
operations  and cash flows for the six month  periods  ended  June 30,  1999 and
2000.

     The Company's  results of operations during the six months of the Company's
fiscal year are not necessarily indicative of the results to be expected for the
full fiscal year.

     The  financial  statements  included  in  this  report  should  be  read in
conjunction  with the  financial  statements  and notes thereto in the Company's
Annual  Report on Form 10-KSB for the fiscal  years ended  December 31, 1999 and
the Company's form 8-K filed as of April 30, 2000.

                                        2

<PAGE>



                         D-LANZ DEVELOPMENT GROUP, INC.
                          (a development stage company)

                           CONSOLIDATED BALANCE SHEET
                                                                June 30,
                                               December 31,      2000
                                                 1999           Unaudited
                                               ------------    -----------

                                    Assets
Current assets
  Cash and cash equivalents                       $22,661        $35,965
  Short-term financial instruments                               538,213
  Accounts receivable                             823,041      1,204,528
  Short term loans receivable                                    566,047
  Other current assets                            197,908      1,459,250
                                                ---------      ---------
  Total current assets                          1,043,610      3,804,003

Property and equipment
  Vehicles                                                       144,694
  Equipment, furniture and fixtures               122,046        825,263
  Less accumulated depreciation                    (7,000)      (175,191)
                                                  --------      ---------
  Net property and equipment                      115,046        794,766

Other assets
  Guarantee deposit                               235,444      1,345,277
  Government security deposit                          87             90
  Capitalized computer software                                  894,424
  Intangible assets                                 4,076         54,509
                                                  -------      ----------
  Total other assets                              235,531      2,294,300
Total assets                                   $1,394,187     $6,893,069


                      Liabilities and Stockholders' Equity

Current liabilities
  Accounts payable and accrued expenses       $   752,813    $   485,634
  Short-term borrowings                           519,273      1,022,604
  Deferred income                                  98,833        818,233
                                                ---------      ---------
  Total current liabilities                     1,370,919      2,326,471

Stockholders' equity
  Common Stock authorized 50,000,000 shares,
    $0.001  par value each.                        15,000         15,000
Additional paid capital                                        6,206,423
  Currency translation adjustment                  68,146         (3,798)
Deficit accumulated during the
  development stage                               (62,681)    (1,661,027)
Total stockholders' equity                         23,268      4,566,598
Total liabilities and stockholders' equity     $1,394,187     $6,893,069



                 See accompanying notes to financial statements

                                        3

<PAGE>

                         D-LANZ DEVELOPMENT GROUP, INC,
                          (a development stage company)

                      CONSOLIDATED STATEMENT OF OPERATIONS
<TABLE>
<CAPTION>

                                             For the period                     For the period
                                             from inception,    For the six    from inception ,
                                              October 11,      months ended    October 11, 1999,
                                               1999, to         June 30,         to June 30,
                                           December 31, 1999      2000              2000
                                                                Unaudited         Unaudited
                                              -------------     ---------         ----------
<S>                                             <C>           <C>                 <C>

Revenue                                           $87,435      $1,642,634          $1,730,069

Costs of services                                  74,320       1,282,808           1,357,128
                                                  -------      ----------          -----------

Gross profit                                       13,115         359,826             372,941

Operations:
  Selling, general and
     administrative expenses                       69,018       1,907,439           1,976,457
  Depreciation                                        -0-             -0-               -0-
                                                   ------       ---------           ----------
  Total expense                                    69,018       1,907,439           1,976,457

Income (Loss) from operations and
     before corporate income taxes                (55,903)     (1,547,613)         (1,603,516)

Corporate income taxes                              6,925                               6,925

Other income and expenses
  Interest income                                     147          10,485              10,632
  Interest expense                                (49,091)        (49,091)
  Foreign currency transaction loss-net            (7,956)         (7,956)
  Other net                                                        (4,171)             (4,171)
                                                      147         (50,733)            (50,586)

Net income (loss)                                $(62,681)    $(1,598,346)        $(1,661,027)

Net income (loss) per share -basic                   0.00         $(0.10)
Number of shares outstanding-basic             14,999,343      14,999,343
</TABLE>



                 See accompanying notes to financial statements.

                                        4

<PAGE>



                         D-LANZ DEVELOPMENT GROUP, INC.
                          (a development stage company)

                             STATEMENT OF CASH FLOWS

<TABLE>
<CAPTION>
                                                               For the period from                           For the period from
                                                                inception, October          For the         inception , October 11,
                                                                   11, 1999, to         six months ended            1999, to
                                                                   December 31,          June 30, 2000           June 30, 2000
                                                                       1999               Unaudited               Unaudited
                                                                -----------------      ----------------     ----------------------

<S>                                                                <C>                  <C>                      <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net income (loss)                                                $  (62,681)          $ (1,598,346)            $ (1,661,027)
Adjustments to reconcile net profit (loss)  to cash used in
   Depreciation of property and equipment                               7,000                168,191                  175,191
  Amortization of intangible asset                                                             4,311                    4,311
  Increase in accounts receivable                                    (823,041)              (381,487)              (1,204,528)
  Increase in advance payments                                       (193,832)            (1,265,418)              (1,459,250)
  Accounts payable and accrued expenses                               752,813              (267,179)                  485,634
  Deferred income                                                      98,833                719,400                  818,233
                                                                     ---------            -----------              -----------
TOTAL CASH FLOWS FROM OPERATIONS                                     (220,908)            (2,620,528)              (2,841,436)

CASH FLOWS FROM INVESTING ACTIVITIES
  Increase in guarantee deposit                                      (235,444)            (1,109,833)              (1,345,277)
  Increase in short-term loans receivable                                                   (566,047)                (566,047)
  Short term investments                                                                    (538,213)                (538,213)
  Increase in other investment assets                                     (87)                    (3)                     (90)
  Purchase of intangible asset                                                               (54,741)                 (54,741)
  Purchase of vehicles, equipment, furniture and fixtures            (122,046)              (847,911)                (969,957)
  Increase in software development costs                               (4,076)              (894,427)                (898,503)
  Currency translation adjustment                                       2,803                (6,601)                  (3,798)
TOTAL CASH FLOWS FROM INVESTING ACTIVITIES                           (358,850)            (4,017,776)              (4,376,626)

CASH FLOWS FROM FINANCING  ACTIVITIES
  Increase in short term borrowings, net                              519,273                503,331                1,022,604
  Sale of common stock                                                 83,146              6,148,277                6,231,423
                                                                     ---------            -----------              -----------

TOTAL CASH FLOWS FROM FINANCING ACTIVITIES                            602,419              6,651,608                7,254,027

NET INCREASE (DECREASE) IN CASH                                        22,661               (13,304)                   35,965
CASH BALANCE BEGINNING OF PERIOD                                                             22,661                       -0-
                                                                      -------              ---------                ---------
CASH BALANCE END OF PERIOD                                          $  22,661            $   35,965                $   35,965
                                                                    =========            ==========                ==========

</TABLE>


                 See accompanying notes to financial statements.

                                        5

<PAGE>


                         D-LANZ DEVELOPMENT GROUP, INC.
                          (a development stage company)

                        STATEMENT OF STOCKHOLDERS EQUITY
<TABLE>
<CAPTION>

                                                                                       Currency        Deficit
                               Preferred  Preferred  Common      Common   Additional  translation  accumulated during
Date                            stock      stock     Stock        Stock    paid in    adjustment   development stage    Total
                                                                           capital
                               --------   ---------  ------     --------   -------     --------    ------------------   ------
<S>                             <C>        <C>      <C>         <C>      <C>            <C>           <C>              <C>

Balance 12-31-1999               -0-       $-0-     11,934,300  $11,900  $1,470,151                   $(1,269,949)     $212,102

Unaudited
Loss                                                                                                     (402,651)     (402,651)
                                           ----                                                          ---------    ----------

Balance March 31, 2000          -0-       $-0-     11,934,300  $11,900  $1,470,151                   $(1,672,600)    $(190,549)

Proforma effect of spin of                                                 (252,500)                      443,049       190,549
License rights to Global Agri-
Med Technologies, Inc.                                                   (1,229,551)

Effect of 100 to 1 reverse split                  (11,814,957)  (11,780)     11,780                                         -0-

Proforma effect of issuance of
shares to eWeb21 Corporation                       14,880,000    14,880   6,206,543       (3,798)       (1,661,027)  (1,661,027)
                                                   ----------    ------   ---------       -------       -----------   ----------

Balances June 30, 2000          -0-       $-0-     14,999,343   $15,000  $6,206,423      $(3,798)      ($1,661,027)  $4,566,598
                                ===       ====     ==========   =======  ==========      ========      ============  ==========



</TABLE>














                 See accompanying notes to financial statements.

                                     6



<PAGE>
                         D-LANZ DEVELOPMENT GROUP, INC.
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2000


NOTE A--BASIS OF PRESENTATION

     The  accompanying  unaudited  financial  statements  have been  prepared in
accordance with generally accepted principles for interim financial  information
as set forth in of Regulation S-B.  Accordingly,  they do not include all of the
information and footnotes required by generally accepted  accounting  principles
for complete financial statements.  In the opinion of management,  all necessary
adjustments (consisting of normal recurring accruals) considered necessary for a
fair presentation  have been included.  Operating results of D- Lanz Development
Group,  Inc. (the "Company") for the six months ended June 30, 1999 and 2000 are
not  necessarily  indicative  of the results that may be expected for the fiscal
year ending December 31, 2000.

NOTE B--EARNINGS PER SHARE

     In 1997, the Financial Accounting Standards Board issued Statement No. 128,
"Earnings Per Share".  Statement No. 128 replaced the calculation of primary and
fully  diluted  earnings  per share with basic and diluted  earnings  per share.
Unlike primary earnings per share, basic earnings per share exclude any dilutive
effects of options, warrants, and convertible securities.  Dilutive earnings per
share is very similar to the  previously  reported  fully  diluted  earnings per
share. The Company adopted Statement No. 128 and has  retroactively  applied the
effects thereof for all periods  presented.  The impact on the per share amounts
previously reported was not significant.

NOTE C - Foreign Currency Transactions

     The functional  currency is the Korean Won. Monetary assets and liabilities
denominated in foreign  currencies are translated into Korean Won at the balance
sheet  date and  reported  in US  Dollars  with the  resulting  gains and losses
recognized in current  results of operations.  Monetary  assets and  liabilities
denominated in foreign  currencies are translated into Korean Won at W1,110.3 to
US$1.00,  the rate of exchange on June 30, 2000.  Revenue,  expenses,  gains and
losses from foreign currency  transactions are converted at the exchange rate in
effect on the date on which  the  transaction  occurred.  All  foreign  exchange
transaction gains and losses are included in the results of operations.  Balance
sheet accounts,  principally in Korean  currency,  are translated at the current
exchange rate as of the balance sheet date. The resulting translation adjustment
is recorded as a separate component of shareholders' equity.

NOTE D - REORGANIZATION OF THE COMPANY

     During  April,  2000,  Company
completed a series of transactions as follows:

a.   Reverse Split

     In April,  2000, the Company  reversed split the number of shares of common
stock  outstanding  in a ration of 100 to 1  restating  the  number of shares of
common stock outstanding from 11,900,000 to 120,000.

                                       7
<PAGE>

b.   Formation of Subsidiary

     The Company formed a subsidiary with the name Global Agri-Med Technologies,
Inc. and on March 31, 2000 and in April,  2000  assigned  the License  rights to
certain  patented  technology to  manufacture  and market a temperature  sensing
device and diagnostic  direct  reading,  digital device to screen the breast for
abnormalities,  including  cancer,  for the countries of Chile and Singapore and
transferred the other assets and debts of the Company to this subsidiary.

c. Reverse Merger of eWeb21 Corporation and Recapitalization of the Company

     In April,  2000,  the  Company  completed  a  reverse  merger  with  eWeb21
Corporation  ("eWeb21")  which  has  been  accounted  for  as  the  issuance  of
11,880,000 shares of common stock by a private company for the net assets of the
Company,  accompanied by a recapitalization pursuant to an Agreement of Business
Combination,  the  ("Agreement"),  which was entered  into during  March,  2000.
Accordingly,  the financial  statements of the Company  became the  consolidated
financial statements of eWeb21 Corporation

     The  consolidated  balance  sheet  as of  June  30,  2000  consists  of the
unaudited  balance  sheet of the Company as at June 30,  2000 and the  unaudited
balance sheet of eWeb21 at June 30, 2000 and the unaudited related statements of
income,  cash flows and  stockholders'  equity for the six months ended June 30,
2000  and  the  unaudited   related   statements  of  income,   cash  flows  and
stockholders' equity for eWeb21 for the six months ended June 30, 2000.

NOTE E - INCOME TAXES

     The Company  provides for the tax effects of  transactions  reported in the
financial statements. The provision if any, consists of taxes currently due plus
deferred taxes related primarily to differences  between the basis of assets and
liabilities for financial and income tax reporting.  The deferred tax assets and
liabilities,  if any,  represent  the future tax  return  consequences  of those
differences,  which will  either be taxable  or  deductible  when the assets and
liabilities are recovered or settled. As of December 31, 1999 and June 30, 2000,
the Company  had no material  current tax  liability,  deferred  tax assets,  or
liabilities to impact on its financial  position  because the deferred tax asset
related to the Company's  net operating  loss carry forward and was fully offset
by a valuation allowance.

     At June 30,  2000,  the Company has net  operating  loss carry  forward for
income tax purposes of  $1,661,027.  These carry forward losses are available to
offset future taxable income, if any, and expire in the year 2005.

     The  components  of the net  deferred  tax asset as of June 30, 2000 are as
follows:

               Deferred tax asset:
         Net operating loss carry forward                     $  564,749
         Valuation allowance                                  $ (564,791)
         Net deferred tax asset                               $      -0-


                                       8
<PAGE>

     The Company  recognized  no income tax benefit from the loss  generated for
the period from the date of inception  to June 30,  2000.  SFAS No. 109 requires
that a valuation  allowance  be provided if it is more likely than not that some
portion  or all of a  deferred  tax asset will not be  realized.  The  Company's
ability  to  realize  benefit  of its  deferred  tax  asset  will  depend on the
generation of future  taxable  income.  Because the Company has yet to recognize
significant  revenue from the sale of its products,  the Company believes that a
full valuation allowance should be provided.

NOTE F - COMMITMENTS AND CONTINGENCIES

(a)  Lease agreements

     The Company has located its operating and administrative  facilities at 21F
Techno-mart  546-4  Kui-dong,  Kwanggin-gu,  Seoul,  Korea  pursuant  to a lease
agreement  dated on Jan 1, 2000 for a term of 2 years with minimum annual rental
payments as follows:

     According  to a lease  terms and  conditions  of Korea,  we have paid lease
deposit ($1,345,677) when we made lease contract.  We could get full refund when
the lease contract  expired.  Therefore the actual lease cost might be more than
above figures.

(b)  Consulting Agreements

     The Company has entered in an consulting  agreement  with Samil  Accounting
corporation for a period of 1 years with an annual consulting fee of $5,400

(c)  Retirement and Severance Benefits

     The Company's  retirement  and severance  program is that which is required
under Korean legislation.  Each employee is entitled to a lump-sum payment based
on a number of factors  when they leave the  Company.  The  employees  are fully
vested in these amounts and are entitled to receive the amounts immediately upon
separation.

     The  management  of the Company  believes  that the amount of the Company's
retirement and severance  liability as of June 30, 2000 is immaterial due to the
Company's  short  period  of  operation  and,  therefore,  did not  reflect  the
corresponding   amount  of  liability  on  the  accompanying  balance  sheet  in
accordance with Korean GAAP.

     Under  U.S.  GAAP,  in  accordance  with  the  consensus  in the  Financial
Accounting  Standards  Board ("FASB")  Emerging Issues Task Force ("EITF") Issue
No. 88-1,  the basis of provision  for allowance  for  retirement  and severance
benefits liability is adequately disclosed.

NOTE G - COMMON STOCK SUBSCRIBED

     As of June 30, 2000,  the  Company's  subsidiary,  eWeb21,  has received an
aggregate of $5,179,523  through various private  placements  completed prior to
the date of the  Company's  reorganization  and will be issued  shares of common
stock of the Company at a price as yet to be determined.


                                       9
<PAGE>

Item 2. Management's Discussion and Analysis of Plan of operation

         MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
          RESULTS OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 2000

     The following  discussion relates to the results of our operations to date,
and our financial condition:

     This  FORM  10QSB  contains  forward  looking  statements  relating  to our
Company's  future economic  performance,  plans and objectives of management for
future operations, projections of revenue mix and other financial items that are
based  on the  beliefs  of,  as well  as  assumptions  made  by and  information
currently  known to, our  management.  The words  "expects,  intends,  believes,
anticipates,  may, could, should" and similar expressions and variations thereof
are intended to identify forward-looking  statements.  The cautionary statements
set forth in this  section are  intended to  emphasize  that actual  results may
differ materially from those contained in any forward looking statement.

Development stage activities.

     The Company has been a development  stage  enterprise  from its  inception,
June 23, 1997 to June 30,  1999.  The Company is in the process of  developing a
web site on the World Wide Web for the purpose of selling  health care  products
and sharing its expertise through consulting activities.

     On April 15,  2000,  the  Company  entered  into an  Agreement  of Business
Combination with the eWeb21 Corporation ("eWeb"), a Korean corporation, whereby,
the  Company  issued  14,880,000  shares of common  stock for all the issued and
outstanding  shares of common stock of eWeb. The  transaction has been accounted
for as the issuance of shares of common  stock by a private  company for the net
assets of the  Company,  accompanied  by a  recapitalization.  Accordingly,  the
financial statements of eWeb become the financial statements of the Company.

     During  this  period,  management  devoted  the  majority of its efforts to
initiating  the  process  of the web site  design  and  development,  developing
Internet relationships such as communications service links, customers and other
Internet presence providers to enhance the Company's  offerings,  developing and
testing  its  marketing  strategy  and  finding a  management  team to begin the
process  of  completing  its  marketing  goals,   furthering  its  research  and
development  for its  products,  completing  the  documentation  for and selling
initial shares through private placements, completing a reverse merger with Eweb
and completing  documentation its initial public offering. These activities were
funded  through the initial sale of shares of eWeb's  common  stock  aggregating
$20,000;  investments  from  stockholders  through the sale of 215,521 shares of
common  stock of eWeb  aggregating  $6,231,423  and  borrowing  an  aggregate of
$1,022,604 on a short term basis.  The Company has not yet generated  sufficient
revenues  during its limited  operating  history to fund its  ongoing  operating
expenses,  repay  outstanding  indebtedness,  or fund its web  site and  product
development  activities.  There can be no assurance that  development of the web
site will be completed and fully tested in a timely manner and within the budget
constraints of management and that the Company's marketing research will provide
a profitable path to utilize the Company's marketing plans.  Further investments
into web site  development,  marketing  research  as  defined  in the  Company's
operating plan will significantly  reduce the cost of development,  preparation,
and  processing of purchases  and orders by enabling the Company to  effectively
compete in the electronic market place.

                                       10
<PAGE>

     For the next 12 months,  the  Company  plans to devote the  majority of its
efforts to obtaining financing to build administrative and service facilities to
market  its  software,  services  and  products,  and  pursuing  and  finding  a
management team to continue the process of completing its marketing goals and to
develop new  markets.  The Company  anticipates  that with the  completion  of a
public offering, the Company will be able to expand its operations.  The Company
anticipates  that its results of operations  may  fluctuate for the  foreseeable
future due to several  factors,  including the timing of the introduction of the
Company's  products into its target  markets;  whether and when new products are
successfully  developed  by the  Company,  market  acceptance  of current or new
products,  competitive  pressures  on pricing and changes in the mix of products
sold.  Operating  results would also be adversely  affected by a downturn in the
market for current technology it improved technology is introduced.  Because the
Company is continuing to increase its operating expenses for personnel and other
general and administrative  expenses,  the Company's  operating results would be
adversely affected if its sales did not correspondingly  increase. The Company's
limited operating history makes accurate  prediction of future operating results
difficult or impossible.

     The Company's  results of operations for the six months ended June 30, 2000
should be viewed with considerable caution due to the following factors:

1)   Results of operations for the period from  inception,  October 11, 1999, to
     December 31, 1999 and for the six months ended June 30, 2000 do not reflect
     a full  year's  worth of  revenues  but rather 51 days of  revenues  as the
     Company only commenced generating revenues beginning October 11 of 1999.

2)   Inherent in any  acquisitions  are costs which  arise from  integration  of
     operations into the Company's existing business  operations.  Many of these
     may be viewed as one-time,  non- recurring  charges which are not likely to
     be repeated in future performance periods.

     The Company plans to invest heavily in marketing and promotion,  the hiring
of additional  employees  and the  enhancement  of our websites and  operational
infrastructure.  Therefore,  it expects to incur increasing sales and marketing,
product  development and general and  administrative  expenses.  As a result, it
will need to  generate  higher  revenue to achieve and  maintain  profitability,
although  it may  never be able to do so.  If  revenue  growth  is  slower  than
anticipated,   or  operating  expenses  exceed  expectations,   losses  will  be
significantly greater.

     Due to these  factors,  the June 30, 2000 results of  operations  discussed
below may not be an accurate  indication  of future  performance.  In  addition,
comparison  of results for the six months  ended June 30, 200 with those for the
six  months  ended  June  30,  1999  are  difficult  to  make  due to the  basic
dissimilarity  between  a  developing  stage  company  and a  company  that  has
commenced substantial business operations beginning in October 11, 1999.

Results of  Operations  for the six months ended June  30, 2000.

     Net Sales.  Revenues  consist of consist  of  Promoweb  product  sales and
services, net of any discounts and reserves for expected returns.  Revenues were
aggregated  $1,642,634  for the six months  ended June 30, 2000.  These  minimal
revenues primarily resulted from expanded marketing efforts and the introduction
of new product lines.  During this period,  the Company  expanded its operations
into the geographic areas of Korea, Japan and Australia.

     Direct costs. Direct costs consist of telecommunications charges in respect
of providing Internet connection services to customers. These costs are expensed
as  incurred.  For the six months ended June 30,  2000,  these costs  aggregated
$1,282,808.

                                       11
<PAGE>

     Selling,  general and administrative expenses. Sales and marketing expenses
consist primarily of advertising  costs, order processing and fulfillment costs,
credit card costs and the salary and benefits of sales,  marketing  and customer
service  personnel.  Advertising costs include online marketing  efforts,  print
advertising  and  direct  marketing  campaigns.  Sales  and  marketing  expenses
aggregated  $1,976,457  for the six months  ended  June 30,  2000.  The  Company
intends to continue to pursue an  aggressive  marketing  strategy to attract new
customers.  Therefore,  it expects  sales and  marketing  expenses  to  increase
significantly in future periods.

     Other income and expense, net other income (expense), consists primarily of
earnings on our cash and cash equivalents of $10,632,  and interest  payments on
loan and lease agreements of $49,091 and foreign currency  transaction  loss-net
of $7,956.

     Benefit  (provision)  for income  taxes.  As a result of the  pre-tax  loss
recorded for the period from  inception,  October 11, 1999 to June 30, 2000, the
Company has not recorded a benefit for Federal income taxes. Instead the Company
recognized  no income tax benefit from the losses  generated for the period from
inception,  October  11, 1999 to June 30,  2000.  SFAS No. 109  requires  that a
valuation  allowance be provided if it is more likely than not that some portion
or all of a deferred tax asset will not be realized.  The  Company's  ability to
realize  benefit of its  deferred  tax asset will  depend on the  generation  of
future  taxable  income.  Because the Company has yet to  recognize  significant
revenue from the sale of its products and services,  the Company believes that a
full valuation allowance should be provided. The Company will continue to assess
the likelihood of realization  of such assets;  however,  if future events occur
which make the realization of such assets more likely than not, the Company will
record a tax benefit.

Liquidity and Capital Resources.

     The  Company's  cash  balance at  December  31,  1999 and June 30,  2000 is
$22,661 and $35,965 respectively.  Working capital at December 31, 1999 and June
30, 2000 is negative at December  31, 1999 by $327,309  and  positive at at June
30, 2000 by  $1,477,532.  For the period from  inception,  October 11, 1999,  to
December  31,  2000,  working  capital was  provided by sale of shares of common
stock aggregating  $83,146 and an increase in short term borrowings of $519,273.
The Company  expended  cash  through the  purchase of other  assets of $122,046;
payment of a guarantee deposit for rent for $235,444, software development costs
of $4,076, and cash used in operations of $220,908.

     For the six months ended June 30,  2000,  the Company sold shares of common
stock for an aggregate  consideration  of $6,148,2777  and increased  short term
borrowings  by  $503,331.  Cash was used by the Company  through  operations  of
$2,260,528,   increasing  the  Company's  guarantee  deposit  by  an  additional
$1,109,833,  increasing  short term loans  receivable by $566,047,  investing in
money market by $538,213,  purchase of intangible assets of $54,741, purchase of
fixed assets of $847,911,  payment of monies for software  development  costs of
$894,427 and a loss of currency transaction adjustment of $6,601.

     Management  believes  that it will be  able  to fund  the  Company  and the
initial  cost  of the  offering  until  the  completion  of the  initial  public
offering.  The Company is  initiating  an initial  public  offering of 1,500,000
Units at $30.00 per Unit for an aggregate of $45,000,000. The Company will defer
the  expenses of the offering  until the offering is completed  and the offering
expenses will be deducted from proceeds received therefrom.



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                                   SIGNATURES

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


                                D-LANZ DEVELOPMENT GROUP, INC.


                                  /s/Hyo-Sung Choi
                                  ----------------
                                  Hyo-Sung Choi,
                                Chief Financial Officer


Dated:            September 13, 2000







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