UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549


                                   FORM 10-QSB


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

                  For the quarterly period ended June 30, 1997

                                       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              33-19139-NY


                               VENTURE WORLD, LTD.
             (Exact name of registrant as specified in its charter)

                  DELAWARE                           11-2936371
(State or other jurisdiction of            (IRS Employer Identification Number)
 incorporation or organization)


8 East Broadway, Suite 735 Salt Lake City, Utah                84111
(Address of principal executive offices)                    (Zip Code)


Registrant's telephone number, including area code         (801) 363-3555
                                                  ----------------------------

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 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. [ X ] Yes [ ] No


      Class                                   Outstanding as of August 31, 1997
----------------------------               -------------------------------------
   Common Stock                                       50,000,000 shares
 Par Value $.0001


<PAGE>



                               VENTURE WORLD, LTD.
                          (A Development Stage Company)

                         PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.

BASIS OF PRESENTATION

General
The accompanying unaudited financial statements have been prepared in accordance
with the  instructions  to Form 10-QSB  pursuant to the rules and regulations of
the  Securities  and  Exchange  Commission  and,  therefore,  do not include all
information and footnotes necessary for a complete presentation of the financial
position,  results of  operations,  cash  flows,  and  stockholders'  deficit in
conformity  with generally  accepted  accounting  principles.  In the opinion of
management,  all adjustments considered necessary for a fair presentation of the
results of  operations  and  financial  position have been included and all such
adjustments are of a normal recurring nature.

Operating  results for the six months  ended June 30,  1997 are not  necessarily
indicative of the results that can be expected for the year ending  December 31,
1997.

Item 2. Management's  Discussion and Analysis of Financial Condition and Results
        of Operations.

FINANCIAL CONDITION
The Company had no financial activity for the six months ended June 30, 1997.

RESULTS OF OPERATIONS
The Company sustained losses of $0 and $582 for the six month periods ended June
30, 1997 and June 30, 1996,  respectively.  The Company had income of $0 for the
three months ended June 30, 1997  compared with a loss of $1 for the same period
in 1996.  Revenues of $0 and $2 for the six months  ended June 30, 1997 and 1996
represented interest earned on temporary cash investments and loans. Expenses of
$0 and $584  for the six  months  ended  June 30,  1997  and 1996  consisted  of
professional  fees,  depreciation,  and other  administrative  expenses incurred
while the Company was seeking out  business  ventures  which,  in the opinion of
management, can provide a profit to the Company. Expenses were $0 and $0 for the
three months ended June 30, 1997 and 1996.




<PAGE>



                           PART II. OTHER INFORMATION

Item 1.           Not Applicable

Item 2.           Not Applicable

Item 3.           Not Applicable

Item 4.           Not Applicable

Item 5.           Not Applicable

Item 6.           Exhibits and Reports on Form 8-K

                  (a)      Exhibits
                           99.1 Financial Statements as of June 30, 1997.
                           Financial Data Schedule

                  (b)      Reports on Form 8-K
                           None.


                                   SIGNATURES

Pursuant to the  requirements of Section 13 or 15(d) of the Securities  Exchange
Act of 1934,  the  Registrant  has duly  caused  this report to be signed on its
behalf by the undersigned thereunto duly authorized.

                                       VENTURE WORLD, LTD.
                                       (Registrant)



September 24, 1997                     /s/ Michael Labertew
    Date                               Michael Labertew
                                       Chairman & President
                                       (Principal Executive Officer)



<PAGE>


                               VENTURE WORLD, LTD.
                          (A Development Stage Company)


                                  BALANCE SHEET
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                                                 June 30, 1997
                                                                                                            ----------------------
ASSETS

CURRENT ASSETS:
<S>                                                                                                         <C>                   
Cash                                                                                                        $                    0
                                                                                                            ----------------------

                                                                                    Total Current Assets                         0
                                                                                                            ----------------------

                                                                                            TOTAL ASSETS    $                    0
                                                                                                            ======================

LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES:

Accrued expenses                                                                                            $                1,300
                                                                                                            ----------------------

STOCKHOLDERS' DEFICIT:

Common stock, $.0001 par value,
     300,000,000 shares authorized
     50,000,000 shares issued and outstanding                                                                                5,000
     Paid-in capital                                                                                                       214,843
     Deficit accumulated during the development stage                                                                     (221,143)
                                                                                                            ----------------------
                                                                                                                            (1,300)
                                                                                                            ----------------------

                                                             TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT    $                    0
                                                                                                            ======================
</TABLE>


                                       F-1

<PAGE>


                               VENTURE WORLD, LTD.
                          (A Development Stage Company)


                            STATEMENTS OF OPERATIONS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                  Three months ended                    Six months ended
                                                                       June 30,                             June 30,
                                                          -----------------------------------  ------------------------------------
                                                                1997               1996              1997               1996
                                                          ----------------  -----------------  ----------------   -----------------
REVENUES:
<S>                                                       <C>               <C>                <C>                <C>              
Interest income                                           $              0  $               1  $              0   $               2
                                                          ----------------  -----------------  ----------------   -----------------

EXPENSES:

Professional fees                                                        0                  0                 0                 300
Depreciation and amortization                                            0                  0                 0                 134
Other                                                                    0                  0                 0                 150
                                                          ----------------  -----------------  ----------------   -----------------

                                                  Total                  0                  0                 0                 584
                                                          ----------------  -----------------  ----------------   -----------------

                                      NET INCOME (LOSS)   $              0  $               1  $              0   $            (582)
                                                          ================  =================  ================   =================

INCOME (LOSS) PER COMMON SHARE                            $            .00  $             .00  $            .00   $            (.00)

WEIGHTED AVERAGE
     NUMBER OF SHARES                                           50,000,000         50,000,000        50,000,000          50,000,000
                                                          ================  =================  ================   =================
</TABLE>



                                       F-2

<PAGE>


                               VENTURE WORLD, LTD.
                          (A Development Stage Company)


                STATEMENT OF STOCKHOLDERS' EQUITY FOR THE PERIOD
                    MAY 6, 1987 (INCEPTION) TO JUNE 30, 1997
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                      Common                                                        Accumulated
                                                       Stock                                                      Deficit during
                                                     Purchase         Common           Par          Paid-In       the Development
                                                     Warrants         Shares          Value         Capital            Stage
                                                   -------------  -------------  --------------  -------------  ------------------

<S>                                                <C>            <C>            <C>             <C>            <C>
Shares issued to officers and others                                 37,500,000  $        3,750  $      24,145  $

Public offering 25,000 units at $10.00 per unit       12,500,000     12,500,000           1,250        248,750

Offering costs                                                                                         (64,402)

Net (loss) for May 6, 1987 to
   December 31, 1990                                                                                                       (72,877)
                                                   -------------  -------------  --------------  -------------  ------------------

Balance, December 31, 1990                            12,500,000     50,000,000           5,000        208,493
Net (loss) year ended December 31, 1991                                                                                    (56,562)
                                                   -------------  -------------  --------------  -------------  ------------------

Balance, December 31, 1991                            12,500,000     50,000,000           5,000        208,493            (129,439)
Net (loss) year ended December 31, 1992                                                                                    (56,408)
                                                   -------------  -------------  --------------  -------------  ------------------

Balance, December 31, 1992                            12,500,000     50,000,000           5,000        208,493            (185,847)
Net (loss) year ended December 31, 1993                                                                                    (28,329)
                                                   -------------  -------------  --------------  -------------  ------------------

Balance, December 31, 1993                            12,500,000     50,000,000           5,000        208,493            (214,176)
Net (loss) year ended December 31, 1994                                                                                     (2,445)
                                                   -------------  -------------  --------------  -------------  ------------------

Balance, December 31, 1994                            12,500,000     50,000,000           5,000        208,493            (216,621)
Net (loss) year ended December 31, 1995                                                                                     (2,561)
                                                   -------------  -------------  --------------  -------------  ------------------

Balance, December 31, 1995                            12,500,000     50,000,000           5,000        208,493            (219,182)
Warrants expired                                     (12,500,000)
Capital contributions                                                                                    6,350
Net (loss) for year ended December 31, 1996                                                                                 (1,961)
                                                   -------------  -------------  --------------  -------------  ------------------

Balance, December 31, 1996                                     0     50,000,000           5,000        214,843            (221,143)
Net income for period                                                                                                            0
                                                   -------------  -------------  --------------  -------------  ------------------

Balance, June 30, 1997                                         0     50,000,000  $        5,000  $     214,843  $         (221,143)
                                                   =============  =============  ==============  =============  ==================
</TABLE>




                                       F-3

<PAGE>


                               VENTURE WORLD, LTD.
                          (A Development Stage Company)


                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                                                                  Six months ended June 30,
                                                                                                  1997                 1996
                                                                                          ------------------    -------------------

CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                                                       <C>                   <C>                 
Net (loss)                                                                                $                0    $              (582)
Adjustments to reconcile net income to net cash provided
     by operating activities:
         Depreciation and amortization                                                                     0                    134
         Increase (decrease) in accounts payable and accrued expenses                                      0                 (4,167)
                                                                                          ------------------    -------------------

                                                                                   Total                   0                 (4,615)
                                                                                          ------------------    -------------------

CASH FLOWS FROM FINANCING ACTIVITIES:

Paid-in capital contributions                                                                              0                  4,617
                                                                                          ------------------    -------------------

                                                                                   Total                   0                  4,617
                                                                                          ------------------    -------------------

NET INCREASE (DECREASE) IN CASH                                                                            0                      2

CASH - beginning of period                                                                                 0                     77
                                                                                          ------------------    -------------------

CASH - end of period                                                                      $                0    $                79
                                                                                          ==================    ===================
</TABLE>



                                       F-4

<PAGE>


                               VENTURE WORLD, LTD.
                          (A Development Stage Company)


                             STATEMENT OF OPERATIONS
             FOR THE PERIOD MAY 6, 1987 (INCEPTION) TO JUNE 30, 1997
                                   (Unaudited)


<TABLE>
<CAPTION>
REVENUES:
<S>                                                                                       <C>               
Interest income                                                                           $           42,392
                                                                                          ------------------

EXPENSES:
Consulting fees                                                                                      133,247
Secretarial services                                                                                  13,141
Rent and leasing expense                                                                              44,812
Telephone                                                                                             15,127
Professional fees                                                                                     19,341
Depreciation and amortization                                                                          5,430
Underwriter's fees                                                                                    10,000
Other                                                                                                 22,437
                                                                                          ------------------

                                                                                   Total             263,535
                                                                                          ------------------

NET LOSS - deficit accumulated during the development stage                               $         (221,143)
                                                                                          ==================

LOSS PER COMMON SHARE                                                                     $             (.00)

WEIGHTED AVERAGE NUMBER OF SHARES                                                                 50,000,000
</TABLE>



                                       F-5

<PAGE>


                               VENTURE WORLD, LTD.
                          (A Development Stage Company)


                             STATEMENT OF CASH FLOWS
             FOR THE PERIOD MAY 6, 1987 (INCEPTION) TO JUNE 30, 1997
                                   (Unaudited)


<TABLE>
<CAPTION>
CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                                                       <C>                
Net (loss) - deficit accumulated during the development stage                             $         (221,143)
Adjustments to reconcile net income to net cash provided by
     operating activities:
         Depreciation and amortization                                                                 5,195
         Increase (decrease) in accounts payable and accrued expenses                                  1,300
         Increase in organization costs                                                                 (700)
                                                                                          ------------------

                                                                                   Total            (215,348)

CASH FLOWS FROM INVESTING ACTIVITIES:

Payment for purchase of equipment                                                                     (4,495)
                                                                                          ------------------

                                                                                   Total              (4,495)

CASH FLOWS FROM FINANCING ACTIVITIES:

Paid-in capital contributions                                                                          6,350
Proceeds from initial issue of stock                                                                  27,895
Proceeds from public offering of 25,000 units of stock and warrants                                  250,000
Less: public offering costs                                                                          (64,402)
                                                                                          ------------------

                                                                                   Total             219,843

NET INCREASE IN CASH                                                                                       0

Cash - beginning of period                                                                                 0
                                                                                          ------------------

Cash - end of period                                                                      $                0
                                                                                          ==================
</TABLE>



                                       F-6