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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   -----------

                                   FORM 10-QSB
(MARK ONE)

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

For the quarterly period ended September 30, 1998

                                       OR

[ ] 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 0-23462

                         ASIA MEDIA COMMUNICATIONS, LTD.
        (Exact name of Small Business Issuer as Specified in its Charter)

                    NEVADA                               88-0207089
      (State or Other Jurisdiction                      (IRS Employer
     of Incorporation or Organization)                Identification No.)

                 712 FIFTH AVENUE, 7TH FLOOR, NEW YORK, NY 10019

                    (Address of Principal Executive Offices)

                                 (212) 582-3400
                 Issuer's Telephone Number, Including Area Code

                                    ---------

         Check whether the issuer: (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 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 [ ] No [X]

          APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
                         DURING THE PRECEDING FIVE YEARS

         Check whether the registrant filed all documents and reports required
to be filed by Section 12, 13 or 15(d) of the Exchange Act after the
distribution of securities under a plan confirmed by a court.

Yes X   No 
   ---    ---
                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: As of December 15, 1998, the
registrant had 5,535,586 shares of Common Stock outstanding.

         Transitional Small Business Disclosure Format (check one):

Yes     No X   
  ---     ---



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                         ASIA MEDIA COMMUNICATIONS, LTD.
                                   FORM 10-QSB
                    For the Quarter Ended September 30, 1998


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<CAPTION>

                                                                                          Page
                   INDEX                                                                 Number


<S>     <C>                                                                              <C>
PART I  FINANCIAL INFORMATION

Item 1   Condensed Balance Sheet at September 30, 1998 and December 31, 1997                  3

         Condensed Statement of Operations for the three and nine month periods
                  ended September 30, 1998 and September 30, 1997                             4

         Condensed Statement of Cash Flows for the nine month periods
                  ended September 30, 1998 and September 30, 1997                             5

         Notes to Condensed Financial Statements                                              6

Item 2   Plan of Operation                                                                    8

PART II

Item 1   Legal Proceedings                                                                   10
Item 2   Changes in Securities                                                               10
Item 3   Defaults Upon Senior Securities                                                     10
Item 4   Submission of Matters to a Vote of Security Holders                                 10
Item 5   Other Information                                                                   10
Item 6   Exhibits and Reports on Form 8-K                                                    10

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                                       2



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                         ASIA MEDIA COMMUNICATIONS, LTD.
                           (FORMERLY SPERZEL-NV, INC.)
                             CONDENSED BALANCE SHEET


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<CAPTION>

                                     ASSETS
                                     ------
                                                        September 30,           December 31,
                                                                1998                   1997 
                                                        ------------            ----------- 
                                                         (Unaudited)

<S>                                                     <C>                     <C>
Current Assets:
     Cash                                               $     50,000            $    50,000
                                                        ------------            -----------

         Total Assets                                   $     50,000            $    50,000
                                                        ============            ===========


                 LIABILITIES AND DEFICIT IN STOCKHOLDERS' EQUITY
                 -----------------------------------------------

Current Liabilities:

     Advance from shareholder                           $     14,448            $    14,448
                                                        ------------            -----------



(Deficit in) Stockholders' Equity:

     Common stock, $.01 par value, 100,000,000
       shares authorized; 5,535,586 shares issued
       and outstanding                                        55,356                 55,356
     Additional paid-in capital                              798,825                798,825
     Deficit in retained earnings                            (84,908)               (84,908)
                                                        ------------            -----------
                                                             769,273                769,273
     Less:    Treasury stock                                (733,721)              (733,721)
                                                        ------------            -----------
         Total (Deficit in) Stockholders' Equity              35,552                 35,552
                                                        ------------            -----------

              Total Liabilities and (Deficit in)
                Stockholders' Equity                    $     50,000            $    50,000
                                                        ============            ===========


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                                       3




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                         ASIA MEDIA COMMUNICATIONS, LTD.
                           (FORMERLY SPERZEL-NV, INC.)
                       CONDENSED STATEMENTS OF OPERATIONS
                                    UNAUDITED

<TABLE>
<CAPTION>
            
                                                   For the Three                        For the Nine
                                                   Months Ended                         Months Ended
                                                   September 30,                        September 30,
                                               1998              1997                1998           1997    
                                             -------           -------              -------       -------
<S>                                   <C>                 <C>                <C>                  <C>
  
Revenues:
     Net Sales                         $       -           $       -          $      -            $     -

Costs and Expenses:

     Selling, general and
      administrative
      expenses:                                -                   -                 -                  -   
                              

Net Income                             $       -           $       -          $      -            $     -       
                                       ===========         ===========        ===========         ===========  

Income per common
 share                                 $      0.00         $      0.00        $      0.00         $      0.00
                                       ===========         ===========        ===========         ===========  
 
Average weighted number
 of common shares
 outstanding                             5,535,586           5,535,586          5,535,586           5,535,586
                                       ===========         ===========        ===========         ===========  


                                       4





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                         ASIA MEDIA COMMUNICATIONS, LTD.
                           (FORMERLY SPERZEL-NV, INC.)
                       CONDENSED STATEMENTS OF CASH FLOWS
                                    UNAUDITED


</TABLE>
<TABLE>
<CAPTION>

                                                       For the Nine Months
                                                             Ended
                                                         September 30,
                                                       1998          1997    
                                                      ------        -----
<S>                                                  <C>            <C>

Cash Flows from Operating Activities:

     Cash received from customers                      $  --         $  --
     Cash paid for goods and services                     --            --

Cash Flows from Investing Activities:                     --            --

Cash Flows from Financing Activities:
     Sale of Warrant                                      --          50,000
                                                       -------       -------

Increase in cash and cash  equivalents                    --          50,000

Cash and cash equivalents, beginning                      --            --   
                                                       -------       -------

Cash and cash equivalents, end                         $  --         $50,000
                                                       =======       =======


Reconciliation of Net Income to
 Cash Flows from Operating Activities:

Net Income                                             $  --         $  --
 
Adjustments:
     Increase in accounts payable and
      accrued expenses                                    --            --   
                                                       -------       -------

Cash Flows from Operating Activities                   $  --         $  --   
                                                       =======       =======

</TABLE>


                                       5



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                         ASIA MEDIA COMMUNICATIONS, LTD.
                           (FORMERLY SPERZEL-NV, INC.)
                     NOTES TO CONDENSED FINANCIAL STATEMENTS



NOTE 1:  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

              Basis of Presentation:

              The accompanying balance sheet includes the accounts of Asia Media
              Communications, Ltd., a corporation purchased by Sperzel-NV, Inc.
              on January 31, 1994. On the same date, Sperzel-NV, Inc. changed
              its name to Asia Media Communications, Ltd. As Asia Media
              Communications, Ltd., the Company had attempted to acquire the
              licensing rights for distribution of videos in the Far East.
              However, the acquisition was never completed and the Company is
              seeking opportunities in other business ventures. The Company also
              had acquisition and merger agreements relating to the distribution
              of vodka and other products, primarily in Russia as well as an
              Australian company which distributes computer equipment in the Far
              East. All acquisition and merger agreements were effectively
              rescinded as of their respective effective dates, and accordingly,
              no transactions related thereto are included in the accompanying
              financial data.

              Business activity:

              The Company, a Nevada corporation, with its administrative office
              now located in New York, was incorporated on February 20, 1985. At
              the present time, the Company has no current operations, and is
              actively attempting to acquire a business operation, or obtain one
              through merger with a privately-held company seeking public
              status.



NOTE 2:  UNAUDITED FINANCIAL STATEMENTS

              The financial statements as of September 30, 1998, and for the
              period ended September 30, 1998 and 1997, included herein are
              unaudited; however, such information reflects all adjustments
              consisting of normal recurring adjustments, which are, in the
              opinion of management, necessary for a fair presentation of the
              information for such periods. In addition, the results of
              operations for the interim period are not necessarily indicative
              of results for the entire year. The accompanying financial
              statements are in condensed 

                                       6


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              from and should be read in conjunction with the Company's 1997
              annual report filed on Form 10-KSB.

NOTE 3:  SALE OF WARRANT

              In August 1997, the Company sold a warrant to purchase 1,000,000
              shares of its common stock to Ocean Strategic Holdings, Limited,
              (holder), at an exercise price of $.01 per share. The Company
              received $50,000 as consideration for the warrant. Under the terms
              of the warrant, the holder's share rights may be adjusted to
              effect for certain capital transactions that the Company may
              establish; however, in the event of a stock split, the exercise
              price and number of shares shall not be adjusted. The warrant is
              exercisable as of August 1, 1998 and expires August 1, 2001. As of
              the present date, no shares have been issued pursuant to the
              warrant and the Company has reserved 1,000,000 shares of its
              common stock.


                                       7


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ITEM 2    PLAN OF OPERATION

         The Company's current business plan is primarily to seek one or more
potential businesses which may, in the opinion of management, warrant the
Company's involvement. The Company recognizes that as a result of its limited
financial, managerial or other resources, the number of suitable potential
businesses which may be available to it will be extremely limited. In seeking to
attain its business objective, the Company will not restrict its search to any
particular industry. Rather, the Company may investigate businesses of
essentially any kind or nature, including but not limited to, finance, high
technology, manufacturing, service, sports, research and development,
communications, insurance, brokerage, transportation and others. It is
emphasized that the business objectives discussed herein are extremely general
and are not intended to be restrictive upon the discretion of management. The
Company has not conducted any market studies with respect to any business or
industry.

         The Company will not restrict its search to any specific industry and
may acquire any entity or position in a company which is (i) in its preliminary
or development stage, or (ii) is a going concern. At this time it is impossible
to determine the needs of the business in which the Company may seek to
participate, and whether such business may require additional capital,
management, or may be seeking other advantages which the Company may offer. In
other instances, possible business endeavors may involve the acquisition of or a
merger with a company which does not need additional equity, but seeks to
establish a public trading market for its securities.

         Businesses which seek the Company's participation in their operations
may desire to do so to avoid what such businesses deem to be adverse factors
related to undertaking a public offering. Such factors include substantial time
requirements and legal costs, along with other conditions or requirements
imposed by Federal and state securities laws.

         The analysis of potential business endeavors will be undertaken by or
under the supervision of the Company's management. Management is comprised of
individuals of varying business experience, all of whom are engaged in other
activities and devote only a limited amount of their time to the Company.
Management will rely on their own business judgment in formulating decisions as
to the types of businesses which the Company may acquire or in which the Company
may participate.

         In analyzing prospective businesses, management will consider such
factors as available technical, financial and managerial resources; working
capital and other financial requirements; such businesses' history of
operations, if any, and prospects for the future; the nature of present and
expected competition; the quality and experience of management services which
may be available and the depth of that management; risk factors; the potential
for growth and expansion; the potential for profit; the perceived public
recognition or acceptance of such businesses, products, services, trade or
service marks; its name identification; and other relevant factors.

         While the above factors will be considered, to a large extent a
decision to participate in a specific business will be difficult, if not
impossible, to analyze through the application of objective criteria. In many
instances, the achievements of a specific business to date may not necessarily
be indicative of its potential for the future because of various changing
requirements in the marketplace, such as the ability to substantially shift
marketing approaches, expand significantly or change product emphasis, change or
substantially alter management, or other factors. On the other hand, the
management of such companies may not have proven their abilities or
effectiveness, or established the viability of the market, or the products or
services which they propose to market. As such, the profitability of such a
business may be unpredictable and might therefore subject the Company and its
assets to substantial risks.

                                       8


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<PAGE>

         It is anticipated that locating and investigating specific proposals
will take a substantial period of time, although the time such process will take
can by no means be assured. Further, even after a business is located, the
negotiation, drafting and execution of relevant agreements, disclosure documents
and other instruments will require substantial additional time, effort and
attention on the part of management, as well as substantial costs for attorneys,
accountants and others. If a decision is made not to participate in a specific
business endeavor, the costs theretofore incurred in the related investigation
might not be recoverable. Furthermore, even if an agreement were reached for the
participation in a specific business, the failure to consummate that transaction
might result in the loss to the Company of the related costs incurred.

FORWARD LOOKING STATEMENTS

This Form 10-QSB and other reports filed by the Company from time to time with
the Securities and Exchange Commission (collectively, the "Filings") contain or
may contain forward-looking statements and information that are based upon
beliefs of, and information currently available to, the company's management, as
well as estimates and assumptions made by the Company's management.

When used in the Filings, the words "anticipate", "believe", "estimate",
"expect", "future", "intend", "plan" and similar expressions, as they relate to
the Company or the Company's management, identify forward-looking statements.
Such statements reflect the current view of the Company with respect to future
events and are subject to risks, uncertainties and assumptions relating to the
Company's operations and results of operations and any businesses that may be
acquired by the Company. Should one more of these risks or uncertainties
materialize, or should the underlying assumptions prove incorrect, actual
results may differ significantly from those anticipated, believed, estimated,
expected, intended or planned.
                                       9





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                                     PART II
                                OTHER INFORMATION

<TABLE>

<S>     <C>   

Item 1.  Legal Proceedings

         None

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

         (a) Exhibits
               27.1 Financial Data Schedule

         (b) Reports on form 8-K
                  None


                                   SIGNATURES

         In accordance with the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this Report to be signed on its behalf by
the undersigned, hereunto duly authorized.

                         ASIA MEDIA COMMUNICATIONS, LTD.
                                  (Registrant)


Date: January 7, 1999               By: /s/ Edward J. Tobin
                                       ----------------------
                                            Edward J. Tobin
                                            President

                                       10


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