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

                                   FORM 10QSB


(Mark One)

/x/     QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
        ACT OF 1934
                      For the quarterly period ended September 30, 2002


/ /     TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

                       For the transition period from _________ to _________


                                    333-80429
                                    ---------
                               Commission File No.


                             INVVISION CAPITAL, INC.
                          ----------------------------
             (Exact name of registrant as specified in its charter)


          Nevada                                                  75-2823489
          ------                                                  ----------
(State or other jurisdiction of                               (I.R.S. Employer
incorporation or organization)                               Identification No.)


            2100 Valley View Lane, Suite 110, Dallas, Texas 75234
           ----------------------------------------------------------
                    (Address of principal executive offices)


Registrant's telephone number, including area code:   (214) 390-0801

     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 __x__ No _____

     The Registrant has 11,371,424 shares of common stock, par value $0.0001 per
share issued and outstanding as of September 30, 2002.


     Traditional Small Business Disclosure Format

                            Yes  [  x  ]       No [     ]



<PAGE>
                             INVVISION CAPITAL, INC.



                               Table of Contents


PART I - FINANCIAL INFORMATION
                                                                       Page No.

Item 1. Financial Statements                                            3 - 12
        (Unaudited)

        Consolidated Balance Sheets as of September 30, 2002
           and September 30, 2001
        Consolidated Statements of Operations for
           the three months ended September 30, 2002 and 2001
        Consolidated Statements of Operations for
           the nine months ended September 30, 2002 and 2001
        Consolidated Statements of Cash Flows for
           the nine months ended September 30, 2002 and 2001
        Notes to Financial Statements


Item 2. Management's Discussion and Analysis                           13

Item 3. Controls and Procedures                                        13


PART II - OTHER INFORMATION                                            14


Item 1. Legal Proceedings                                              14

Item 2. Changes in Securities                                          14

Item 3. Defaults upon Senior Securities                                14

Item 4. Submission of Matters to a Vote of Security Holders            14

Item 5. Other Information                                              14

Item 6. Exhibits and Reports on Form 8-K                               14


SIGNATURE PAGE                                                         15




















                                        1

<PAGE>
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS


This document contains forward-looking  statements within the meaning of Section
27A of the Securities  Act and Section 21E of the Exchange Act. All  statements,
other than  statements  of  historical  facts,  included in or  incorporated  by
reference into this Form 10QSB which address activities,  events or developments
which the  Company  expects,  believes or  anticipates  will or may occur in the
future  are  forward-looking   statements.   The  words  "believes,"  "intends,"
"expects,"  "anticipates,"   "projects,"  "estimates,"  "predicts"  and  similar
expressions  are also  intended  to  identify  forward-looking  statements.These
forward-looking   statements  include,  among  others,   statements  concerning:
expectations,   anticipations,  beliefs,  estimations,  projections,  and  other
similar matters that are not historical facts.

These  statements  are based on certain  assumptions  and  analyses  made by the
management of Invvision Capital,  Inc.  ("Invvision") in light of its experience
and its perception of historical trends,  current conditions and expected future
developments  as well as  other  factors  it  believes  are  appropriate  in the
circumstances.

Invvision cautions the reader that these forward-looking  statements are subject
to risks and  uncertainties,  including  those  associated  with:  the financial
environment,  general economic,  market and business conditions,  the regulatory
environment,  business  opportunities  that may be  presented  to and pursued by
Invvision,  changes in laws or regulations,  availability  to obtain  additional
financing on favorable conditions, trend projections, and other factors, many of
which are beyond the Company's control that could cause actual events or results
to differ  materially from those  expressed or implied by the  statements.  Such
risks and uncertainties include those risks and uncertainties  identified in the
Description of the Business and Management's Discussion and Analysis sections of
this  document and risk  factors  discussed  from time to time in the  Company's
filings with the Securities and Exchange Commission.

Significant factors that could prevent Invvision from achieving its stated goals
include: the inability of Invvision to obtain financing for capital expenditures
and  acquisitions,  declines  in the market  prices  for real  estate or related
development,  and adverse  changes in the regulatory  environment  affecting the
Company.

The cautionary  statements  contained or referred to in this document  should be
considered in connection  with any  subsequent  written or oral  forward-looking
statements  that may be issued by  Invvision  or persons  acting on its or their
behalf.

Invvision  undertakes  no  obligation  to release  publicly any revisions to any
forward-looking  statements to reflect  events or  circumstances  after the date
hereof or to reflect the occurrence of unanticipated events.



                                       2
<PAGE>
<TABLE>
<CAPTION>


                                        INVVISION CAPITAL, INC.
                                           AND SUBSIDIARIES
                                    (A DEVELOPMENT STAGE COMPANY)
                                      CONSOLIDATED BALANCE SHEETS
                                       FOR THE NINE MONTHS ENDED



                                                Assets


<S>                                                              <C>                  <C>
                                                                  September 30, 2002    September 30, 2001
                                                                  ------------------    ------------------
Current assets:
     Cash                                                         $            2,059    $        144,525
     Receivables and advances                                                 68,407             218,554
     Mortgage loans in process                                                     -             883,632
     Accounts receivable - other                                                   -             127,298
     Prepaid expenses                                                         32,283               7,148
     Note receivable                                                               -              31,875
                                                                      --------------      --------------

         Total current assets                                                102,749           1,413,032

Property and equipment, at cost, net of
     accumulated depreciation                                                  4,598               7,387

Other assets:
     Investment in unimproved real estate                                  3,052,030             400,000
     Investment in available for sale equity
       securities, at fair value                                                   -                   -
     Option to purchase land                                                       -           3,000,000
                                                                    ----------------      --------------

                                                                  $        3,159,377    $      4,820,419
                                                                   =================     ===============






















          The accompanying notes are an integral part of the consolidated financial statements.

                                                     3
</TABLE>

<PAGE>
<TABLE>
<CAPTION>

                                              INVVISION CAPITAL, INC.
                                                 AND SUBSIDIARIES
                                          (A DEVELOPMENT STAGE COMPANY)
                                           CONSOLIDATED BALANCE SHEETS
                                            FOR THE NINE MONTHS ENDED



                                       Liabilities and Stockholders' Equity


<S>                                                              <C>                  <C>

                                                                  September 30, 2002   September 30, 2001
                                                                  ------------------   ------------------
Current liabilities:
     Accounts payable, trade                                      $          300,683    $        489,496
     Line of credit                                                                -             883,632
     Accrued expenses                                                        357,614             192,809
     Note payable                                                             50,000                   -
     Current portion of mortgages payable                                  2,581,000                   -
                                                                    ----------------      --------------

         Total current liabilities                                         3,289,297           1,565,937
                                                                    ----------------      --------------

Mortgages payable, net of current portion                                          -                   -
                                                                    ----------------      --------------

Commitments and contingencies                                                      -                   -

Stockholders' equity:
     Preferred stock, $.001 par value, 15,000,000 shares
        authorized for September 30, 2002, no shares issued
        and outstanding, no rights or preferences determined                       -                   -
     Common stock, $.001 par value, 50,000,000
        and 20,000,000 shares authorized, 11,371,424 and
        7,581,424 shares issued and outstanding, respectively                 11,371               7,581
     Paid in capital in excess of par                                      3,778,405           6,063,271
     Common stock warrants                                                   100,000                   -
     Accumulated deficit during the development stage              (       2,067,745)    (       864,419)
     Accumulated other comprehensive loss                          (       1,951,951)    (     1,951,951)
                                                                    ----------------      --------------

                                                                   (         129,920)          3,254,482
                                                                    ----------------      --------------

                                                                  $        3,159,377    $      4,820,419
                                                                   =================     ===============













            The accompanying notes are an integral part of the consolidated financial statements.

                                                        4
</TABLE>
<PAGE>
<TABLE>
<CAPTION>

                                           INVVISION CAPITAL, INC.
                                              AND SUBSIDIARIES
                                       (A DEVELOPMENT STAGE COMPANY)
                                  CONSOLIDATED STATEMENTS OF OPERATIONS
                                          AND COMPREHENSIVE LOSS
                                       FOR THE THREE MONTHS ENDED


<S>                                                              <C>                  <C>
                                                                  September 30, 2002   September 30, 2001
                                                                  ------------------   ------------------

Revenues                                                          $                -    $        121,054

Cost of revenues                                                                   -              11,050
                                                                     ---------------       -------------

Gross profit                                                                       -             110,004

Selling and marketing expenses                                                     -                   -
General and administrative                                                    89,163             394,720
                                                                     ---------------       -------------

Operating loss                                                      (         89,163)            284,716

Interest expense                                                              51,620                   -
                                                                     ---------------       -------------

Loss before income taxes                                            (        140,783)     (      284,716)

Provision for income taxes                                                         -                   -
                                                                     ---------------       -------------

Loss from continuing operations                                     (        140,783)     (      284,716)

Unrealized loss on decline in value of
     available for sale equity securities                           (         39,039)     (    1,439,921)
                                                                     ---------------       -------------

Comprehensive loss                                                  (        179,822)     (    1,724,637)

Discontinued operations:
     Income from discontinued (sold) IMI and IDI
        operations, net of applicable income
        taxes of $0                                                          108,850                   -
     Loss on disposal of IMI, and IDI net of
        applicable income taxes of $0                               (          8,832)                  -
                                                                     ---------------       -------------

Net loss                                                          $(          79,804)   $(     1,724,637)
                                                                    ================      ==============


Net loss per share:
     Basic:
        Loss from continuing operations                           $(             .02)    $(          .28)
        Income (loss) from discontinued
         operations, including loss on
         disposal                                                                .01     $             -
                                                                  ------------------     ---------------
Net loss                                                          $(             .01)    $(          .28)
                                                                  ==================     ================
     Diluted:
        Loss from continuing operations                           $(             .02)    $(          .28)
        Income (loss) from discontinued
         operations, including loss on
         disposal                                                                .01     $             -
                                                                  ------------------     ---------------
     Net loss                                                     $(             .01)    $(          .28)
                                                                  ==================     ================


           The accompanying notes are an integral part of the consolidated financial statements.

                                                    5
</TABLE>
<PAGE>
<TABLE>
<CAPTION>

                                             INVVISION CAPITAL, INC.
                                                AND SUBSIDIARIES
                                         (A DEVELOPMENT STAGE COMPANY)
                                     CONSOLIDATED STATEMENTS OF OPERATIONS
                                            AND COMPREHENSIVE LOSS
                                           FOR THE NINE MONTHS ENDED
<S>                                                              <C>                  <C>
                                                                                         Inception to
                                                                  September 30, 2002   September 30, 2001

Revenues                                                          $                -    $        989,024

Cost of revenues                                                              78,033             214,574
                                                                     ---------------       -------------

Gross profit                                                       (          78,033)            774,450

Selling and marketing expenses                                                   870                   -
General and administrative                                                   665,045           1,120,396
                                                                     ---------------       -------------

Operating loss                                                      (        743,948)     (      345,946)

Interest expense                                                             111,527                   -
                                                                     ---------------       -------------

Loss before income taxes                                            (        855,475)     (      345,946)

Provision for income taxes                                                         -                   -
                                                                     ---------------       -------------

Loss from continuing operations                                     (        855,475)     (      345,946)

Unrealized loss on decline in value of
     available for sale equity securities                           (         39,039)     (    1,951,951)
                                                                     ---------------       -------------

Comprehensive loss                                                  (        894,514)     (    2,297,897)

Discontinued operations:
     Income from discontinued (sold) IMI and IDI
        operations, net of applicable income
        taxes of $0                                                          108,850      (      518,473)
     Loss on disposal of IMI, net of applicable
        income taxes of $0                                          (         39,730)                  -
                                                                     ---------------       -------------

Net loss                                                          $(         825,394)   $(     2,816,370)
                                                                    ================      ==============

Net loss per share:
     Basic:
        Loss from continuing operations                           $(             .10)   $(           .37)
        Income (loss) from discontinued
         operations, including loss on
         disposal                                                 $(             .01    $(           .09)

Net loss                                                          $(             .09)   $(           .46)
                                                                  ==================    ================
     Diluted:
        Loss from continuing operations                           $(             .10)   $(           .37)
        Income (loss) from discontinued
         operations, including loss on
         disposal                                                                .01    $(           .09)
                                                                  ------------------    ----------------
Net loss                                                          $(             .09)   $(           .46)
                                                                  ==================    ================


         The accompanying notes are an integral part of the consolidated financial statements.

                                                    6
</TABLE>
<PAGE>
<TABLE>
<CAPTION>

                                             INVVISION CAPITAL, INC.
                                                AND SUBSIDIARIES
                                         (A DEVELOPMENT STAGE COMPANY)
                                     CONSOLIDATED STATEMENTS OF CASH FLOWS
                                            FOR THE NINE MONTHS ENDED


<S>                                                              <C>                  <C>
                                                                   September 30, 2002   September 30, 2001
Cash flows from operating activities:

     Cash received from customers                                 $          137,493    $        644,404
     Cash paid to employees                                        (          70,065)    (       296,000)
     Cash paid to suppliers                                        (          85,220)    (       914,574)
     Interest paid                                                 (         111,527)                  -
                                                                    ----------------      --------------

        Cash provided by (used in) operating activities            (         129,319)    (       566,170)
                                                                    ----------------      --------------
Cash flows from investing activities:

     Purchase of property and equipment                                            -     (         8,207)
     Advances made to others                                       (             689)                  -
     Sale of subsidiary                                                        5,000                   -
                                                                    ----------------      --------------

        Cash provided by (used in) investing activities                        4,311     (         8,207)
                                                                    ----------------      --------------


Cash flows from financing activities:

     Proceeds from issuance of common stock                                      525             718,902
     Proceeds from line of credit                                            312,639                   -
     Proceeds from note payable                                               60,000                   -
     Repayment of line of credit                                   (         275,278)                  -
                                                                    ----------------      --------------

        Cash used in (provided by) financing activities                       97,886             718,902
                                                                    ----------------      --------------

Net increase (decrease) in cash                                    (          27,122)            144,525

Cash at beginning of period                                                   29,181                   -
                                                                    ----------------      --------------

Cash at end of period                                             $            2,059    $        144,525
                                                                   =================     ===============
















        The accompanying notes are an integral part of the consolidated financial statements.

                                                  7
</TABLE>
<PAGE>
<TABLE>
<CAPTION>

                                          INVVISION CAPITAL, INC.
                                            AND SUBSIDIARIES
                                      (A DEVELOPMENT STAGE COMPANY)
                                 CONSOLIDATED STATEMENTS OF CASH FLOWS
                                        FOR THE NINE MONTHS ENDED




                                      Reconciliation of Net Loss to
                                       Net Cash Used in Operations

<S>                                                              <C>                  <C>
                                                                September 30, 2002     September 30, 2001


Net loss                                                        $(         825,394)   $(         864,419)
                                                                  ----------------      ----------------

Adjustment to reconcile net loss to net cash used in operations:

     Loss on sale of subsidiary                                 $            8,832    $                -
     Loss on sale of assets                                                222,432                     -
     Depreciation                                                            1,968                   820
     (Increase) decrease in accounts receivable                            110,685     (         345,853)
     (Increase) decrease in mortgages held for sale                        312,639     (         883,632)
     (Increase) decrease in prepaid expenses                      (         25,500)    (           7,148)
     (Increase) decrease in notes receivable                                     -     (          31,875)
     Increase (decrease) in accounts payable                      (         90,499)              489,496
     Increase (decrease) in accrued expenses                               155,518               192,809
     Increase (decrease) in line of credit                                       -               883,632
                                                                   ---------------      ----------------

        Total adjustments                                                  696,075               298,249
                                                                   ---------------       ---------------

Net cash provided by (used in) operations                       $(         129,319)   $(         566,170)
                                                                  ================      ================


                      Supplemental Disclosures of Non-Cash
                       Investing and Financing Activities


Common stock issued for land                                    $                -    $          400,000

Common stock issued for option to purchase land                 $                -    $        3,000,000

Common stock issued in exchange for equity share
    of long-term invest                                         $                -    $        1,951,951

Common stock issued for debt                                    $          350,000    $                -








           The accompanying notes are an integral part of the consolidated financial statements.

                                                   8
</TABLE>
<PAGE>

                             INVVISION CAPITAL, INC.
                                AND SUBSIDIARIES
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


1.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Business and operations

Invvision Capital, Inc. (the Company), formerly Omni Park Pass, Inc. (OMNI), was
incorporated in the state of Nevada on May 27, 1998. OMNI's business  operations
consisted of designing and developing  software for use in the entertainment and
amusement park industries  although no significant  revenues were generated from
this  activity and as a result of recurring  significant  operating  losses,  in
March 2001,  the board of directors  voted to shut down business  operations and
attempt to sell the Company or its assets.

On April 20, 2001,  the Company  merged with Invvision  Capital,  Inc.  (ICI), a
Texas corporation,  by issuing 4,257,393 common stock shares valued at $4,257 in
exchange for all of the  outstanding  common stock of  Invvision  Capital,  Inc.
(ICI).  Immediately  prior to the merger,  OMNI effected  several  capital stock
transactions,  including an 8 to 1 reverse  common  stock  split,  to change its
capital  structure  (Note  2).  On April  23,  2001,  OMNI  changed  its name to
Invvision Capital, Inc.

ICI was  incorporated in the state of Texas on February 15, 2001.  Prior to this
merger  transaction,  ICI  had  no  active  business  operations.   However,  in
connection with its formation,  ICI acquired an unimproved parcel of real estate
and an  assignment  of contract to purchase  another  unimproved  parcel of real
estate (Notes 3 and 7), which it plans to develop.  Additionally, in April 2001,
the  Company  began  conducting   mortgage  banking  activities   involving  the
origination and underwriting of residential mortgage loans.

The merger  transaction was accounted for as a reverse merger using the purchase
method of accounting with ICI acquiring OMNI for financial  reporting  purposes.
As a  result,  the  accompanying  consolidated  financial  statements  have been
restated to present the financial  position and operating  results of ICI as the
acquiring entity. Because OMNI did not have any assets or liabilities and had no
business operations, no portion of the purchase price was allocated to goodwill.
Instead,  the  excess of the  purchase  price  over the fair value of net assets
acquired has been charged against  operations and reflected in the  accompanying
consolidated financial statements as an acquisition cost.

Principles of consolidation

The accompanying  consolidated financial statements include the general accounts
of the Company  and its  subsidiaries  Invvision  Development,  Inc.,  Invvision
Mortgage,  Inc.,  Invvision  Funding,  Inc., INVA#1,  Inc. and INVA#2,  Inc. All
intercompany  transactions,  accounts and balances  have been  eliminated in the
consolidation and there were no material intervening transactions.

Basis of presentation and going concern uncertainty

The accompanying unaudited consolidated condensed financial statements have been
prepared  in  accordance   with  the  accounting   policies   described  in  the
consolidated  financial  statements  and related notes included in the Company's
2001 Form 10-K. It is suggested  that those  consolidated  statements be read in
conjunction with this report. The year-end financial  statements  presented were
derived  from the  Company's  audited  financial  statements.  In the opinion of
management,  the  accompanying  consolidated  financial  statements  reflect all
adjustments  necessary for a fair presentation of the financial  position of The
Company and of its operations.








                                        9
<PAGE>

                             INVVISION CAPITAL, INC.
                                AND SUBSIDIARIES
                          (A DEVELOPMENT STAGE COMPANY
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


The consolidated financial statements of the Company have been prepared assuming
that the Company will continue as a going concern. However, the Company incurred
an operating loss during the quarter and it has a net working capital deficit of
over $1.0 million.  These  conditions,  among others,  give rise to  substantial
doubt about the Company's ability to continue as a going concern.  Management is
continuing  to seek  additional  equity  capital  to  fund  its  operations  and
management  anticipates revenues to be generated by the end of 2002.  Management
believes  that these  steps will  provide  the Company  with  adequate  funds to
sustain its growth and continued existence. There is, however, no assurance that
the steps taken by management  will meet all of the  Company's  needs or that it
will continue as a going concern.  The consolidated  financial statements do not
include any adjustments that might result from the outcome of this uncertainty.

Management estimates

The preparation of financial  statements in conformity  with generally  accepted
accounting principles requires management to make estimates and assumptions that
affect  the  reported  amounts  of assets  and  liabilities  and  disclosure  of
contingent  assets and  liabilities at the date of the financial  statements and
the  reported  amounts of revenues  and expenses  during the  reporting  period.
Actual results could differ from those estimates.

Cash flows

For purposes of the consolidated  statement of cash flows, the Company considers
all highly liquid  investments with original  maturities of three months or less
to be cash equivalents. None of the Company's cash is restricted.

Revenue recognition

Pursuant to Statement of Financial Accounting Standards No. 65, Mortgage Banking
Activities, revenues from the origination and processing of residential mortgage
loans are  recognized  as income at the time the related  loans are sold.  Other
fees,  representing  reimbursements  for the  costs of  specific  services,  are
recognized as income at the time the services have been performed.

All mortgage loans  originated by the Company are held for sale and are reported
at the  lower  of cost or  market  value.  Direct  loan  origination  costs  are
capitalized as part of the carrying value of the related loan.

Property and equipment

Property  and  equipment  is  stated  at  cost  less  accumulated  depreciation.
Depreciation  of property and equipment is being  provided by the  straight-line
method  over  estimated  useful  lives of three to seven  years.  For the period
January 1, 2002 through March 31, 2002, depreciation expense totaled $656.

Loss per share

Basic loss per share amounts are computed using the  weighted-average  number of
common  stock  shares  outstanding  during the  periods.  Diluted loss per share
amounts  are  computed  using the  weighted-average  number of common and common
equivalent  shares  outstanding  during  the  periods.  For the  periods  ending
September  30, 2002 and 2001,  basic loss per share  amounts are computed  using
8,798,671  and  6,153,563   weighted  average  number  of  common  stock  shares
outstanding,  respectively.  No effect has been given to the assumed exercise of
outstanding stock options because the effect would be antidilutive.

2.   MORTGAGES AND NOTES PAYABLE

On  February  20,  2002,  the Company  borrowed  $60,000  from  Graham  Mortgage
Corporation.  The note bears  interest at 16 %, is secured by real and  personal
property  in  Tarrant  County,  Texas and  requires  accrued  interest  payments
beginning  April 1, 2002 with all principal and accrued but unpaid  interest due
and payable on March 1, 2004. Upon the sale of the real estate on April 22, 2002
the note was repaid to Graham Mortgage Corporation.

                                       10
<PAGE>

                             INVVISION CAPITAL, INC.
                                AND SUBSIDIARIES
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS



3.   DISCONTINUED OPERATIONS

Invvision Mortgage, Inc.

On April 10,  2002,  the Company sold some of the assets of IMI and its mortgage
pipeline to Malcolm  McAlpine,  the then CFO of IMI,  for a note  receivable  of
$25,000.

On June 28, 2002, the Company sold its shares in the wholly owned  subsidiary to
Ron Knight,  the past  president of IMI, for $10 and an assumption of all of the
assets and  liabilities  which is included in the reported amount of discontinue
operating  results  pursuant  to APB Opinion  No. 30,  Reporting  the Results of
Operations.

On August 29,  2002,  the Company sold its wholly  owned  subsidiary,  Invvision
Development,  Inc.  to its  President,  Larry  Akins in lieu of funds due to Mr.
Akins and Marc  Harrison,  an employee of IDI, as well as the  assumption of all
outstanding  payables of IDI. The Company has retained a 20% profits interest in
a number of the business opportunities that had been in development in IDI prior
to the date of sale.

4.   COMMITMENTS AND CONTINGENCIES

Legal matters

The Company is subject to legal proceedings that arise in the ordinary course of
business. As of this date, the Company is not a party to any lawsuits, either as
plaintiff  or as  defendant.  Management  is not aware of any matters that could
result in a lawsuit or other legal contingencies (See Subsequent events).

Environmental matters

During the period ended  December 31,  2001,  the Company  acquired a 19.64 acre
tract of land (Note 3) that was formerly a landfill for the city of  Carrollton,
Texas.  There is  currently  an  environmental  study in  progress  by the Texas
Natural  Resource  Conservation  Commission  (TNRCC) to determine  the extent of
contamination  and the costs  associated with the clean up. As of this date, the
extent  of  contamination  has  not  been  defined.  Management  believes  it is
reasonably  possible  that some  contamination  will  exist and that the cost of
clean up to the  Company  could  approach  $500,000  on an  undiscounted  basis.
However,  it is reasonably  possible that this estimated loss contingency  could
change as the  environmental  study is completed,  currently  estimated to occur
sometime by the end of July 2003. A loss accrual for clean up costs has not been
provided for in the accompanying consolidated financial statements.

5.   SEGMENT INFORMATION

The  Company's  operating  segments  consist  of  its  real  estate  development
activities and its general corporate capital funding  activities,  each of which
are conducted through separate  subsidiary  corporations.  The general corporate
capital  funding  activities  consist  of those  activities  related  to raising
additional  equity  capital  and/or  debt  financing  needed to provide  for the
continued  development and operation of its mortgage banking  activities and its
real  estate  development  activities.  Information  related to these  operating
segments is  contained in the  following  schedule.  There were no  transactions
between operating segments.

On June 28, 2002, the Company sold its wholly owned mortgage division, Invvision
Mortgage, Inc.

On August 29, 2002, the Company sold its wholly owned division, Invvision
Development, Inc.





                                       11
<PAGE>

                             INVVISION CAPITAL, INC.
                                AND SUBSIDIARIES
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


6.   RELATED PARTY TRANSACTIONS

On April 22,  2002,  the Company  sold  acreage  with a cost of at $400,000 to a
shareholder of the Company in exchange for $200,000,  which included debt of the
Company.  The  Company  recorded a loss on this  transaction  of  $208,000.  The
Company had a first  right of refusal  with the  purchaser  to  re-purchase  the
property for the $200,000 sale price.

On June 19,  2002,  the Company  issued  3,500,000  common  stock  shares to Rea
Capital Corporation,  a major stockholder,  in repayment of $350,000 of accounts
payable related to its consulting agreement with the Company.

7.   SUBSEQUENT EVENTS

On April 24, 2002,  the maturity  dates for the mortgages  payable (Note 5) were
extended to April 30, 2003. In exchange for the extension, the Company will make
monthly  principal and interest payments of $3,000 beginning June 1, 2002 on the
$200,000 mortgage. In addition, the Company agreed to a $12,000 extension fee on
the  $1,580,000  mortgage,  payable  in twelve  monthly  installments  of $1,000
beginning  May 1, 2002.  The RGL mortgage was  extended  without any  additional
consideration or changes in terms. This agreement is in default.

On December 2, 2002, INVA #1 filed a voluntary  petition under Chapter 11 of the
United States Bankruptcy Code. This action was taken to forestall foreclosure by
the first lien holder and obtain time to sell the mortgaged property.













                                       12
<PAGE>
ITEM 2. MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
     OF OPERATIONS

On August 29,  2002,  the Company sold its wholly  owned  subsidiary,  Invvision
Development, Inc., to its President, Larry Akins, in lieu of funds due Mr. Akins
and  Marc  Harrison,  an  employee  of IDI,  as well  as the  assumption  of all
outstanding  payables  of IDI.  The Company  has  retained a 20 percent  profits
interest in a number of the business opportunities that have been in development
in IDI prior to the date of sale.

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

During the third  quarter of 2002,  on August 29,  2002,  the  Company  sold its
wholly owned subsidiary,  Invvision Development,  Inc., to its President,  Larry
Akins, in lieu of funds due Mr. Akins and Marc Harrison,  an employee of IDI, as
well as the  assumption  of all  outstanding  payables  of IDI.  The Company has
retained a 20 percent profits interest in a number of the business opportunities
that have been in  development in IDI prior to the date of sale. The company was
unable to raise the funding  required to continue  operations  of this entity or
any of the  planned  projects  due to both  market  conditions  and the  markets
perception of Native American opportunities.

On October  26, 2002 the company  received a formal  demand  notice from the 1st
lien holder on the companies  remaining tract of unimproved real estate property
located at Beltline and Luna Roads in Carrollton,  Texas.  The demand notice was
for  payment of past due  interest on the note as well as payment of the 2001 ad
valorem  property  taxes that were to be paid as part of the note  extension  of
April 24, 2002.  The company is attempting to raise the funds  necessary to cure
the default  although there is no assurance that the monies will be raised as it
has not been successful in its attempts to raise additional funding to date.

The Nine Month Period Ended September 30, 2002 Compared to the Nine Month Period
Ended September 30, 2001.

During the Nine Month Period Ended  September  30, 2002 the Company  reported no
revenues down from $989,024 for the same period the previous  year.  Operational
Losses for the period  were  $743,948 up from  $345,946  for the same period the
previous year.  Comprehensive  Losses from  Operations for the Nine Month Period
Ended  September 30, 2002 were $894,514 down from losses of $2,297,897  the same
period the previous  year.  Losses for the period in 2001,  however,  included a
$1,951,951  unrealized  loss on the decline in the value of  available  for sale
securities  compared to losses of $39,039 in such unrealized losses for the same
period ended  September 30, 2002.  The Company also recorded  income of $108,850
from  discontinued  (sold) IMI and IDI  operations  for this  current  period as
opposed to a loss of $518,473 for the same period the previous year.

Liquidity and Commitment for Capital Expenditures.
-------------------------------------------------

On April 24, 2002,  the maturity  dates for the mortgages  payable (Note 5) were
extended to April 30, 2003. In exchange for the extension, the Company will make
monthly  principal and interest payments of $3,000 beginning June 1, 2002 on the
$200,000 mortgage. In addition, the Company agreed to a $12,000 extension fee on
the  $1,580,000  mortgage,  payable  in twelve  monthly  installments  of $1,000
beginning  May 1, 2002.  The RGL mortgage was  extended  without any  additional
consideration  or changes in terms. On August 19, 2002, the Company entered into
a contract to sale its remaining tract of unimproved  real estate.  The contract
expired on August 30, 2002, but the Company and the buyer are continuing to move
forward in an attempt to complete the sale,  although there is no assurance that
the sale will be completed.

The company continues to pursue additional  capital of up to $2,000,000  through
the sale of the companies stock and the issuance of company  warrants,  although
there  is  no  assurance  that  additional   financing  to  meet  the  Companies
obligations  will be  forthcoming.  In addition,  the Company is  attempting  to
obtain additional funds from the sale of remaining real estate assets sufficient
to meet the Company's  needs.  But there is no assurance that such fubds will be
forthcoming.

                                       13
<PAGE>

Item 3. CONTROLS AND PROCEDURES

a.   Evaluation of Disclosure Controls and Procedures: Based upon the evaluation
     of  disclosure  controls  and  procedures  as  of  December  1,  2002,  the
     evaluation  date,  the Company's  Chief  Executive  Officer  indicates that
     controls  and  procedures  of  the  Registrant   designed  to  ensure  that
     information required to be disclosed by it in this report filed pursuant to
     the Securities Exchange Act of 1934 as amended, are in place.


b.   Changes  in  Internal  Controls:  In order to  facilitate  the  control  of
     information  through the Company's Chief Executive Officer,  its certifying
     officer  under this Item,  additional  restrictions  on changes to existing
     relationships,  new relationships and flow of funds have been instituted as
     of the evaluation date.



                           PART II - OTHER INFORMATION


ITEM 1. LEGAL PROCEEDINGS

December 2, 2002, INVA #1 Inc., a wholly owned subsidiary of the Company filed a
Voluntary Petition for  Reorganization  pursuant to Chapter 11 of the Bankruptcy
Code, in the United States  Bankruptcy Court for the Northern District of Texas.
This action was taken to provide INVA #1 Inc. with  sufficient  time to complete
the sale of the Company's  major real estate assets.  There is no assurance that
this sale will be completed or that any ruling from the Bankruptcy Court will be
favorable to the Company or its subsidiary.


ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS

         None.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

         None.


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

     The Company has not  submitted any matters to the  shareholders  for a vote
during this reporting period.


ITEM 5. OTHER INFORMATION

         None.


ITEM 6. EXHIBITS AND REPORTS ON FORM 8K

         None





                                       14

<PAGE>
                                 SIGNATURE

     In accordance  with Section 13 or 15(d) of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.




   Dated:  December 24, 2002                    INVVISION CAPITAL, INC.


                                                By:  /s/  John Edward Rea
                                                ----------------------------
                                                Mr. John Edward Rea, President




1.   I, John Edward Rea,  have  reviewed the  quarterly  report on Form 10QSB of
     Invision Capital, Inc;

2.   Based upon my knowledge,  this quarterly report does not contain any untrue
     statement of a material fact or omit to state a material fact  necessary to
     make the statements  made, in light of the  circumstances  under which such
     statements  were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based upon my knowledge,  the  financial  statements,  and other  financial
     information  included  in this  quarterly  report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  registrant  as of, and for,  the  periods  presented  in this
     quarterly report;

4.   The  registrant's  other  certifying  officers  and I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

     a)   designed  such  disclosure  controls  and  procedures  to ensure  that
          material  information  relating  to  the  registrant,   including  its
          consolidated subsidiaries,  is made known to us by others within those
          entities,  particularly  during  the  period in which  this  quarterly
          report is being prepared;

     b)   evaluated the  effectiveness of the registrant's  disclosure  controls
          and procedures as of a date within 90 days prior to the filing date of
          this quarterly report (the "Evaluation Date"); and

     c)   presented  in  this  quarterly   report  our  conclusions   about  the
          effectiveness  of the disclosure  controls and procedures based on our
          evaluation as of the Evaluation Date;

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of  registrant's  board of directors (or persons  performing  the
     equivalent function):

     a)   all  significant  deficiencies  in the design or operation of internal
          controls  which  could  adversely  affect the  registrants  ability to
          record,  process,   summarize  and  report  financial  data  and  have
          identified for the  registrant's  auditors any material  weaknesses in
          internal controls; and

     b)   any fraud, whether or not material,  that involves management or other
          employees who have a  significant  role in the  registrant's  internal
          controls; and

6.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly report whether or not there were significant  changes in internal
     controls  or in other  factors  that could  significantly  affect  internal
     controls  subsequent to the date of our most recent  evaluation,  including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.



Dated:  December 24, 2002                         /s/ Mr. John Edward Rea
                                                  -----------------------
                                                  President


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