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 September 30, 1996

                                       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 incorporation        (IRS Employer
         or organization)                               Identification Number)

     8 East Broadway, #735, Salt Lake City, UT                   84111
     (Address of principle executive offices)                  (Zip Code)


      136 East Ninth Street, Lakewood, NJ                     08701
(Former Address of principal executive offices)         (Former 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 September 30, 1996
-------------------          --------------------------------------
   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  nine  months  ended  September  30,  1996  are not
necessarily  indicative  of the results that can be expected for the year ending
December 31, 1996.

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

FINANCIAL CONDITION
Total stockholders'  deficit decreased $5,689 from $(5,689) at December 31, 1995
to $0 at September 30, 1996.  This decrease was the result of a contribution  to
capital.

RESULTS OF OPERATIONS
The Company sustained losses of $661 and $1,533 for the nine month periods ended
September 30, 1996 and September 30, 1995, respectively.  The Company had a loss
of $79 for the three months ended  September  30, 1996  compared  with a loss of
$461 for the same  period  in 1995.  Revenues  of $2 and $0 for the nine  months
ended September 30, 1996 and 1995 represented  interest earned on temporary cash
investments  and loans.  Expenses of $663 and $1,533 for the nine  months  ended
September 30, 1996 and 1995 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 $79 and $461 for the three months ended September 30,
1996 and 1995.

Management is currently looking for new business operations.




<PAGE>



                           PART II. OTHER INFORMATION

Item 1.           Not Applicable

Item 2.           Not Applicable

Item 3.           Not Applicable

Item 4.           Not Applicable

Item 5.           During the quarter, Michael Labertew became the President of
                  the Company and a Director.  Lisa Valerio became Secretary/
                  Treasurer and a Director.

Item 6.           Exhibits and Reports on Form 8-K

                  (a)      Exhibits
                           99.1 Financial Statements as of September 30, 1996.
                           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)



December 5, 1996                       /s/ Michael Labertew
    Date                               Michael Labertew
                                       Chairman & President
                                       (Principal Executive Officer)



<PAGE>


                               VENTURE WORLD, LTD.
                          (A Development Stage Company)


                                  BALANCE SHEET
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                                                           September 30, 1996
ASSETS

CURRENT ASSETS:

<S>                                                                                                     <C>
Cash                                                                                                    $                        0
                                                                                                        --------------------------

                                                                               Total Current Assets                              0
                                                                                                        --------------------------
                                                                                       TOTAL ASSETS     $                        0
                                                                                                        ==========================

LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES:

Accrued expenses                                                                                        $                        0
                                                                                                        --------------------------

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                                                                     (219,843)
                                                                                                        --------------------------
                                                                                                                                 0
                                                                                                        --------------------------
                                                        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                    Nine months ended
                                                                     September 30,                        September 30,
                                                          -----------------------------------  ------------------------------------
                                                                1996               1995              1996               1995
                                                          ----------------  -----------------  ----------------   -----------------

REVENUES:

<S>                                                       <C>               <C>                <C>                <C>
Interest income                                           $              0  $               0  $              2   $               0
                                                          ----------------  -----------------  ----------------   -----------------

EXPENSES:

Professional fees                                                        0                300               300                 900
Depreciation and amortization                                            0                161               134                 483
Other                                                                   79                  0               229                 150
                                                          ----------------  -----------------  ----------------   -----------------

                                                  Total                 79                461               663               1,533
                                                          ----------------  -----------------  ----------------   -----------------

                                             NET (LOSS)   $            (79) $            (461) $           (661)  $          (1,533)
                                                          ================  =================  ================   =================

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' DEFICIT FOR THE PERIOD
                  MAY 6, 1987 (INCEPTION) TO September 30, 1996
                                   (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 nine months ended September 30, 1996                                                                            (661)
                                                            -------------  ------------  -----------  ----------   ----------------

Balance, September 30, 1996                                             0    50,000,000  $     5,000  $  214,843   $       (219,843)
                                                            =============  ============  ===========  ==========   ================
</TABLE>



                                       F-3

<PAGE>


                               VENTURE WORLD, LTD.
                          (A Development Stage Company)


                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>

                                                                                                         Nine months
                                                                                                     ended September 30,
                                                                                                  1996                 1995
                                                                                          -----------------     -------------------
CASH FLOWS FROM OPERATING ACTIVITIES:

<S>                                                                                       <C>                   <C>
Net (loss)                                                                                $             (661)   $            (1,533)
Adjustments  to  reconcile   net  income  to  net  cash  provided  by  operating
     activities:
         Depreciation and amortization                                                                   134                    483
         Increase (decrease) in accounts payable and accrued expenses                                 (5,900)                 1,050
                                                                                          ------------------    -------------------

                                                                                   Total              (6,427)                     0
                                                                                          ------------------    -------------------

CASH FLOWS FROM FINANCING ACTIVITIES:

Paid-in capital contributions                                                                          6,350                      0
                                                                                          ------------------    -------------------

                                                                                   Total               6,350                      0
                                                                                          ------------------    -------------------

NET INCREASE (DECREASE) IN CASH                                                                          (77)                     0

CASH - beginning of period                                                                                77                     75
                                                                                          ------------------    -------------------

CASH - end of period                                                                      $                0    $                75
                                                                                          ==================    ===================
</TABLE>



                                       F-4

<PAGE>


                               VENTURE WORLD, LTD.
                          (A Development Stage Company)


                             STATEMENT OF OPERATIONS
          FOR THE PERIOD MAY 6, 1987 (INCEPTION) TO September 30, 1996
                                   (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                                                                                     18,141
Depreciation and amortization                                                                          5,430
Underwriter's fees                                                                                    10,000
Other                                                                                                 22,337
                                                                                          ------------------

                                                                                   Total             262,235
                                                                                          ------------------
NET LOSS - deficit accumulated during the development stage                               $         (219,843)
                                                                                          ==================

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 September 30, 1996
                                   (Unaudited)

<TABLE>
<CAPTION>

CASH FLOWS FROM OPERATING ACTIVITIES:

<S>                                                                                       <C>
Net (loss) - deficit accumulated during the development stage                             $         (219,843)
Adjustments  to  reconcile   net  income  to  net  cash  provided  by  operating
     activities:
         Depreciation and amortization                                                                 5,195
         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