UNITED STATES                          
                SECURITIES AND EXCHANGE COMMISSION
                     WASHINGTON, D.C.  20549


                           FORM 10-QSB


         QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
             OF THE SECURITIES EXCHANGE ACT OF 1934.

For the Quarter ended December 31, 1998Commission File No. 133-16736 


    Media Vision Productions, Inc. (formerly Gulfstar Industries, Inc.)       
      (Exact name of registrant as specified in its charter)

           Delaware                                      23-2442288            
      (State or other jurisdiction of    (I.R.S. Employer Identification Number)
      incorporation or organization)


105 S. Naccissos Ave. #701, West Palm Beach, FL              33401             

 (Address of principal executive offices)                 (Zip Code)


Issuer's telephone number, (727)   441    -   4442            


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934, 
during the preceding 12 months (or for shorter period that the registrant was
required to file such report), and (2) has been subject to such filing
requirements for the past 90 days.

     Yes:   X            No:     


Transitional Small Business Disclosure Format:

     Yes:   X            No:     


The number of shares outstanding of each of the registrant's classes of common
stock as of December 31, 1998 is 398,045 shares all of one class of $.80 par
value common stock and no shares of convertible preferred stock with a $10.00
par value.  On January 4, 1999 the Company entered into a Plan of Merger with
Media Vision Properties, Inc. and issued 4,797,500 shares and as of the date
of this filing, March 20, 1999, 5,195,545 shares of $.80 par value common
stock are outstanding.
<PAGE>
                  Media Vision Productions, Inc.
               (Formerly Gulfstar Industries, Inc.)



                              INDEX

                                                            PAGE 

PART I    FINANCIAL INFORMATION

          Consolidated Balance Sheet - December 31, 1998     1   

          Consolidated Statements of Operations - Three Months
            Ended December 31, 1998 and December 31, 1997    2   

          Consolidated Statement of Cash Flows - Three Months
            Ended December 31, 1998 and December 31, 1997               3  

          Notes to the Consolidated Financial Statements    4-5  

          Management's Discussion and Analysis of financial
            conditions and results of operations            6-7  


PART II   OTHER INFORMATION

          Item 1.   Legal Proceedings                                  8

          Item 2.   Changes in Securities                              8

          Item 3.   Defaults Upon Senior Securities                    8

          Item 4.   Submission of Matters to a Vote of                 8
                      Security Holders

          Item 5.   Other Information                                  8

          Item 6.   Exhibits on Reports on Form 8-K                    8

Signature Page                                                             9

<PAGE>
                 MEDIA VISION PRODUCTIONS, INC. 
               (FORMERLY GULFSTAR INDUSTRIES, INC.)
                          BALANCE SHEETS
                        DECEMBER 31, 1998





      Assets

Current Assets
  Cash                                                         $      32
      
      Total Current Assets                                            32

      Total Assets                                             $      32
      Liabilities and Stockholders' Deficit


Current Liabilities
 Accounts payable and accrued expenses                         $  90,481

      Total Current Liabilities                                   90,481

                                                                        

Stockholders' Deficit
  Common stock, par value $.080 per share; authorized
    10,000,000 shares, 398,045 issued and outstanding            318,436
  Convertible preferred stock, authorized 1,000,000
    shares, par value $10.00; no shares issued
    And outstanding                                                     
Additional paid in capital                                      (318,436)
Retained deficit subsequent to reorganization (7-22-97)          (90,449)

      Total Stockholders' Deficit                                (90,449)

      Total Liabilities and Stockholders' Deficit              $      32














<PAGE>
                 MEDIA VISION PRODUCTIONS, INC.
              (FORMERLY GULFSTAR INDUSTRIES, INC.)
                    STATEMENTS OF OPERATIONS




                                                           For the
                                                      Three Months Ended
                                                         December 31,
                                                       1998         1997   

Total Revenue                                       $       - $        -

Operating Expenses                                           
  Selling and administrative expenses                   4,350      8,381

Loss from operating activities                         (4,350)        (8,381)

Provision for taxes                                         -          -

      Net Loss                                      $  (4,350)     $  (8,381)

(Loss) per share                                    $   (.011)     $  (.023) 

Weighted average shares outstanding                   398,045    367,255














<PAGE>
                 MEDIA VISION PRODUCTIONS, INC.
              (FORMERLY GULFSTAR INDUSTRIES, INC.)
                    STATEMENTS OF CASH FLOWS


                                                   For the Three Months Ended
                                                          December 31,
                                                       1998         1997  
OPERATING ACTIVITIES
  Cash Flows Used In Operating Activities:
    Net loss from operations                         $ (4,350)  $ (8,381)
    Adjustments to reconcile net loss to cash
      used in operating activities:
    Increase in accounts payable and accrued 
      expenses                                          4,350      8,284
 
Net (decrease) in cash and cash equivalents                 0        (97)

Cash and cash equivalents, beginning of the period         32        129

Cash and cash equivalents, end of the period        $      32  $      32












<PAGE>
A.   BASIS OF PRESENTATION

     The accompanying unaudited condensed financial statements have been
     prepared in accordance with generally accepted accounting principles for
     interim financial information and with the instructions to Form 10-QSB and
     Article 10 of Regulation S-X.  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 adjustments (consisting of normal recurring accruals)
     considered necessary for a fair presentation have been included. 
     Operating results for the three months period ended December 31, 1998 are
     not necessarily indicative of the results that may be expected for the
     year ended September 30, 1999. For further information, refer to the 
     financial statements and footnotes thereto included in the Registrant
     Company's annual report on form 10-KSB for the year ended September 30,
     1998.

B.   PURCHASE OF SUBSIDIARY AND EFFECTIVE RECAPITALIZATION OF THE COMPANY

     
     The following unaudited proforma consolidated condensed balance sheet of 
     Media Vision Productions, Inc and Subsidiaries as of December 31, 1998 the 
     transaction approved by the Board of Directors on January 4, 1999, whereby 
     the shareholders of the Media Vision Properties, Inc., a Delaware 
     corporation, received 4,797,500 shares of the Media Vision Properties, 
     Inc. in return for all its outstanding shares of common stock is deemed to 
     be effective as of the balance sheet date in December 31, 1998.
     
     For accounting purposes the acquisition has been treated as an acquisition 
     of Media Vision Productions Inc. by Media Vision Properties, Inc. and as 
     such constitues a recapitalization of Media Vision Properties Inc.  The 
     historical financial statements of the Company prior to January 4, 1999 
     will be of those Media Vision Properties, Inc.
     

     Notes to the Proforma Balance Sheet

(1)  To reflect the acquisition of Media Vision Properties, Inc. by the company 
     as of December 31, 1998, which for acounting purposes shall be treated as 
     an acquisition of Media Vision Productions, Inc (formerly Gulfstar 
     International), by Media Vision Properties, Inc and as such constitues 
     a recapitalization of Media Vision Properties, Inc.

(2)  To reflect expenses of $15,038 for Media Vision Productions, Inc. 
     Bankrupcy paid by Media Vision Properties, Inc.

(3)  Due to recapitalization, historical stockholders' equity of the acquirer 
     Media Vision Properties, Inc. prior to the merger is retroactively 
     restated for the equivalent number of shares received in the merger after 
     giving effect with an offset to paid-in-capital.  Retained deficit of the 
     acquirer has been carried forward after the acquisition. <PAGE>
                
                
                 MEDIA VISION PRODUCTIONS, INC.
              (FORMERLY GULFSTAR INDUSTRIES, INC.)
                 A Development Stage Enterprise
         Proforma Consolidated Condensed Balance Sheet
                       December 31, 1998
                          (Unaudited)
                   (In Thousands of Dollars)


                                   Media       Media         Proforma for
                                  Vision      Vision         the completion
                                Productions  Properties        of reverse
                                   Inc.        Inc.            Acquisition

      Assets

Current Assets
  Cash                          $    0      $     360               $ 360

  Total Current Assets               0            360                 360

Property and equipment, at cost
  less accumulated depreciation      0             12          (1)     12

Other Assets                         0             50          (1)     50

      Total Assets                   0            422                 422

      Liabilities and Stockholders'
        Equity

Current Liabilities
  Accounts payable and accrued
    expenses                        90              6          (2)(15)  81

      Total Current Liabilities     90              6                   81

Stockholders' Equity
  Preferred stock
  Common stock                     318              1         (3)383  4,156

Additional paid in capital        (318)           797       (3)(3838) (3,358)

Deficit accumulated during the
  development stage                (90)          (382)        (2) 15    (457)

      Total Stockholders' Equity   (90)          (416)        (2) 15    (457)

      Total Liabilities and
        Stockholders' Equity     $   0      $     422                  $ 422

<PAGE>
               MANAGEMENT'S DISCUSSION AND ANALYSIS
        OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS



The following is management's discussion and analysis of certain significant
factors which have affected the Company's financial position and operating
results during the periods included in the accompanying condensed financial
statements including the Company's Florida operating subsidiary, as well as
information relating to the plans of the Company's current management.

RESULTS OF OPERATIONS

Three Months Ended December 31, 1998 vs. December 31, 1997

The loss from operations for the three months ended December 31,1998 represents
administrative expenses of $4,350 as compared to $8,381 of administrative
expenses during the three month period ended December 31, 1997.

Liquidity and Working Capital

The Company's working capital continued to decline during the quarter ended
December 31, 1998.  At September 30, 1998 the Company had a working capital
deficit of $86,099 as compared to a working capital deficit of $90,449 at
December 31, 1998.


Plan of Reorganization

The Company Media Vision Productions, Inc. (formerly Gulfstar Industries, Inc.
and Subsidiaries) had filed a petition under Chapter 11 of the Bankruptcy laws. 
The significant petition proposals divide prepetition liabilities into two
categories:

- Class II consisted of unsecured obligations totaling $53,111.  The obligees
will be impaired to the extent that they will not be paid the full amount owed
them, and will receive one share of post reverse split common stock for ever
$30 of the amount in which the holder has an approved claim.

- Class IV consisted of equity security holders and related party lenders in the
amount of $812,649 and 75,000 preferred shares.  The security holders will be
impaired to the extent that they will not be paid the full amount owed them, and
will receive one share of post reverse split stock for every $30 of the amount
in which the holder has an approved claim.  Preferred shareholders shall receive
one common share for each preferred share, prior to the reverse split of shares
pursuant to the plan of reorganization.

As a result of the above, $3,232 was recorded as common stock for the issuance
of 30,970 shares based upon the OTC trading price at the time of conversion, and
the balance of these liabilities were recorded as cancellation of indebtedness
income during the year ended September 30, 1998.  Additionally, the plan of
reorganization provided for the shareholders as of the date of the
reorganization to receive 1 share of "new" common stock for each 25 shares of
"prior" common stock or 367,225 "new" shares for the 9,181,365 "old" shares 
including 75,000 shares of preferred stock as converted, previously
outstanding.


Additionally, the Plan proposed the repayment of $40,000 of liabilities to a
401K plan and creditors with accepted proof of claims shall receive one share
for every $30 of the amount in which that holders has an approved claim.  As
stated above, the Plan as confirmed became effective on January 4, 1999.  The
effects of the approval are reflected in the financial statements as of
September 30, 1998 and periods thereafter.

Pursuant to that plan of reorganization, the Company entered into the merger
agreement with Media Vision Properties, Inc.  In connection with that plan of
merger 4,797,500 shares of the Company's stock were issued to the shareholders'
of Media Vision Properties, Inc.  The Consolidated Company is in the Media
Industry producing shows for public Television, "Informercials" and the sale of
products over the world wide web.

Forward looking and other statements

Forward looking statements above and elsewhere in this report that suggest that
the company will increase revenues, become profitable and achieve significant
growth through acquisitions are subject to risks and uncertainties.
Forward-looking statements include the information concerning possible or 
assumed future results of operations and cash flows. These statements are
identified by words such as "believes," "expects," "anticipates" or similar
expressions. Such forward looking statements are based on the beliefs of
Gulfstar Industries Inc. and its Board of Directors in which they attempt to
analyze the Company's competitive position in its industry and the factors
affecting its business.

Stockholders should understand that each of the foregoing risk factors, in
addition to those discussed elsewhere in this document and in the documents
which are incorporated by reference herein, could affect the future results
Gulfstar Industries Inc. and could cause those results to differ materially
from those expressed in the forward-looking statements contained or
incorporated by reference herein. In addition there can be no assurance that
Gulfstar Industries Inc. and its Board have correctly identified and assessed
all of the factors affecting the Company's business.

<PAGE>
                   PART II - OTHER INFORMATION




Item 1.  Legal Proceedings

          On January 4, 1999, the Company's plan of reorganization became
          effective as confirmed and all litigation against the Company was
          considered canceled. One creditor is appealing this decision and the
          Company has reserved 58,833 shares in the event the appeal is
          granted.

Item 2.  Changes in Securities

          NONE


Item 3.  Defaults Upon Senior Securities

          NONE


Item 4.  Submission of Matters to a Vote of Security Holders

          NONE


Item 5.  Other Information
               
          NONE


Item 6.  Exhibits and Reports on Form 8-K
               
          NONE





















<PAGE>
                            SIGNATURES



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



                                       Media Vision Productions, Inc.
                                       Formerly Gulfstar Industriesnc.




Dated: March 20, 1999      By:/s/William O'Callaghan               
                                 William O'Callaghan, Acting President





































<PAGE>