SECURITIES AND EXCHANGE COMMISSION

                                     Washington, DC 20549

                                          FORM 10QSB


                         Quarterly Report under Section 13 or 15(d) of
                              the Securities Exchange Act of 1934


For Quarter Ended                           Commission File Number
-----------------                           ----------------------
March 31, 2000                              33-19196-A


                          INTERNET VENTURE GROUP, INC.
                          ----------------------------
             (Exact name of registrant as specified in its charter)


                       Florida                  59-2919648
                       -------                  ----------
                    (State of incorporation) (I.R.S. Employer
                               Identification No.)

      9601 WEST SAM HOUSTON PARKWAY SOUTH, BLDG. 100, HOUSTON, TEXAS 77049
            ---------------------------------------------------------
               (Address of principal executive offices) (Zip Code)

        Registrant's telephone number, including area code: (713) 596-9308
                                                             -------------

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 the  filing
requirements for at least the past 90 days.

                                    Yes _X___    No ____

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of the latest practicable date.

                         27,805,373 as of March 31, 2000


<PAGE>


                            INTERNET VENTURE GROUP, INC.
                          (A Development Stage Company)


                                  BALANCE SHEET
                                   (unaudited)

                                       Three Months Ending     Year Ending
                                          March 31,  2000     December 31,1999


Current Assets:

     Checking/Savings                            $   (214.18)    $     6,006.00
     Accounts Receivable - Net                      3,732.86          14,145.00
     Inventory                                     73,905.78          79,588.00
                                                  ----------         -----------
     TOTAL Current Assets                          69,958.74          99,739.00

Fixed Assets

     Fixed Assets - Net                            55,546.80          59,546.00
                                                  ----------         -----------
     TOTAL Fixed Assets                            55,546.80          59,546.00

Other Asets

     Other Assets - Net                           295,973.00         301,972.00
                                                  ----------         -----------
     TOTAL Other Assets                           295,973.00         301,972.00

          TOTAL Assets                           $421,477.74         461,257.00
                                                  ==========         ===========

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

     Accounts Payable                            $215,292.16         206,057.00
     Other Payables                                60,415.13          35,370.00
     Notes Payable                                346,753.70         329,656.00
                                                  ----------         -----------
     TOTAL Current Liabilities                    622,460.99         571,083.00

Long-Term Liabilities

     Notes Payable                                         -                  -

     TOTAL Long-Term Liabilities                           -                  -
                                                  ----------         -----------

          TOTAL Liabilities                       622,460.99                  -

Equity

     Common Stock                                   3,030.00           3,030.00
     Additional Paid In Capital                 1,961,059.00       1,961,059.00
     RETAINED EARNINGS - PRIOR                 (2,073,915.00)     (2,073,915.00)
     Retained Earnings-Current Year               (81,157.25)                 -
                                                  -----------        -----------
     TOTAL Equity                                (190,983.25)       (109,826.00)
                                                  -----------        -----------
          TOTAL Liabilities and Equity           $421,477.74         $461,257.00
                                                  ===========        ===========

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

                                       F-1


<PAGE>


                                   INTERNET VENTURE GROUP, INC.
                                 (A Development Stage Company)


                                    STATEMENT OF OPERATIONS
                                          (unaudited)



                                    Three Months Ending      Three Months Ending
                                    March 31, 2000           March 31, 1999
                                    --------------           --------------
Revenue

     Sales                         $84,195.66                $0
                                   -----------               -----------
     TOTAL Revenue                  84,195.66                 0

Cost of Sales

     Cost of Goods Sold             32,347.92                 0
                                   -----------               -----------
     TOTAL Cost of Sales            32,347.92                 0
                                   -----------               -----------
     Gross Profit                   51,847.00                 0

Operating Expenses

     Administrative & Overhead     131,777.51                 0
                                   -----------               -----------
     TOTAL Operating Expenses      131,777,51                 0
                                   -----------               -----------
       Net Income from Operations  (79,929.77)                0

Other Income & Expense

     Other Income/Expense           (1,227.48)                0
                                   -----------               -----------
TOTAL Other Income & Expense        (1,227.48)                0
                                   -----------               -----------
     Earnings before Income Tax    (81,157.25)                0
                                   -----------               -----------
     Net Income (Loss)            $(81,157.25)                0
                                   ===========               ===========
     Income (Loss) per share           $(.002)                0

Weighted Average shares
 Outstanding                    27,805,373.00                 4,000,000.00


    The accompanying notes are an integral part of the financial statements.
                                       F-2


<PAGE>
<TABLE>
<CAPTION>



                          INTERNET VENTURE GROUP, INC.
                      Consolidated Statement of Cash Flows
                      For the Quarter Ended March 31, 2000

                                                                                Three months ended
                                                                                March 31, 1999
                                                                                --------------
<S>                                                          <C>                        <C>

Cash Flows from Operating Activities
        Net Loss                                             $  (81,157)                $0
        Adjustments to reconcile net loss to net cash
         used in operating activities:
         Depreciation                                                 0                  0
         Amortization                                                 0                  0
         Changes in Asets & Liabilities:
         Decrease in Accounts Receivable                         17,878                  0
         Decrease in Inventory                                    5,682                  0
         (Increase) in Acounts Payable                            9,235                  0
         (Increase) in Accrued Expenses                          25,044                  0
                                                                --------                ---
Net Cash Used in Operating Activities                           (23,318)                 0
                                                                --------                ---
Cash Flows from Investing Activities
        Purchase of equipment                                          0                 0
                                                                --------                ---
Cash Flows Used in Investing Activities                                0                 0
                                                                --------                ---
Cash Flows from from Financing Activities
        Proceeds from stock issuance                                   0                 0
        Proceeds from notes payable                               17,098                 0
        Note principal payments                                        0                 0
                                                                --------                ---
Cash Flow Provided by Financing Activities                        17,098                 0
                                                                --------                ---
Net(Decrease) in Cash and Cash Equivalents                        (6,220)                0
Cash and Cash Equivalents - Beginning of Year                      6,006                 0
                                                                --------                ---
Cash and Cash Equivalents - End of Year                             (214)                0
                                                                =========               ===
Supplemental Cash Flow Information:
        Interest Paid                                              1,227                 0
                                                                =========               ===
        Income Taxes Paid                                              0                 0
                                                                =========               ===
Supplemental schedule of noncash financing activities:
        Acquisition of subsidiary:
         Assets acquired                                               0                 0
         Liabilities assumed                                           0                 0
                                                                ---------               ---
         Net equity efect of acquisition                               0                 0
                                                                =========               ====

</TABLE>


    The accompanying notes are an integral part of the financial statements.
                                       F-3


<PAGE>



                          INTERNET VENTURE GROUP, INC.
                          (a development stage company)
                          NOTES TO FINANCIAL STATEMENTS
                           March 31,2000 (Unaudited)

      NOTE 1 - ORGANIZATION AND PRESENTATION:

       Strategic Ventures, Inc. (the Company) was  incorporated in  the state of
       Florida on March 19, 1987. The Company, at  the shareholders' meeting  on
       October 18, 1999, completed its  name change  to Internet  Venture Group,
       Inc.

       Effective  December  31,  1999,  the  Company  acquired  all  issued  and
       outstanding  shares  of  GeeWhiz.Com,  Inc.  (a  Texas  corporation)  for
       26,298,500  shares  of  the  Company's  stock  by  the  purchase  method.
       Accordingly,  the Company's  consolidated  financial statements as of and
       for the year ended December 31, 1999 reflect the consolidation of all its
       operations  on  a  consolidated   basis.  All  significant   intercompany
       transactions  for  the  year  have  been  eliminated  to  arrive  at  the
       "Consolidated"  financial  statements.  The impact of the acquisition was
       not material in relation to the Company's results of operations.

       The Company primary business operations are the development, acquisition,
       marketing and distribution of proprietary  products as specialty products
       and items for the worldwide gift, and novelty and souvenir industries.

       The Company fiscal year end is December 31.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

       These interim financial statements have been prepared by management and
       are not audited.

       These  financial  statements  are  presented  on the  accrual  method  of
       accounting in accordance with generally accepted  accounting  principles.
       Significant  principles  followed  by the  Company  and  the  methods  of
       applying those  principles,  which materially affect the determination of
       financial position and cash flows, are summarized below:

       REVENUE RECOGNITION

       Product Sales are sales of on-line products and specialty items.  Revenue
       is recognized  at the time of sale.  Account  Receivable  are written off
       when deemed uncollectable.

       CASH AND CASH EQUIVALENTS

       The Company considers all highly liquid debt instruments,  purchased with
       an original maturity of three months or less, to be cash equivalents.

       PROPERTY AND EQUIPMENT

       Property  and  equipment  is  stated  at  cost.   The  cost  of  ordinary
       maintenance  and  repairs is charged to  operations  while  renewals  and
       replacements   are   capitalized.   Depreciation   is   computed  on  the
       straight-line method over the following estimated useful lives:

                  Manufacturing Equipment            5 years
                  Furniture & Equipment              5 years

                                      F-4
<PAGE>


                          INTERNET VENTURE GROUP, INC.
                          Notes to Financial Statements
                           March 31, 2000 (Unaudited)

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED):

         INCOME TAXES:

         The  Company  accounts  for  income  taxes  under SFAS No.  109,  which
         requires  the asset and  liability  approach to  accounting  for income
         taxes.  Under this  method,  deferred  tax assets and  liabilities  are
         measured based on differences between financial reporting and tax bases
         of assets and  liabilities  measured  using  enacted tax rates and laws
         that are expected to be in effect when the  differences are expected to
         reverse.

         USE OF 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 the disclosure of contingent  assets and liabilities at
         the  date of the  financial  statements  and the  reported  amounts  of
         revenue and expenses during the reporting period.  Actual results could
         differ from these estimates.

         INVENTORIES

         Inventories  are  stated  at cost,  which is not in  excess  of  market
         determined  using  the  first-in,  first-out  (FIFO)  method.  Finished
         products comprise all of the Company inventories.

         PATENTS, TRADEMARKS, AND LICENSES

         The  Company  capitalizes  certain  legal costs and  acquisition  costs
         related to patents,  trademarks,  and licenses.  Accumulated  costs are
         amortized over the lesser of the legal lives or the estimated  economic
         lives of the proprietary  rights,  generally seven to ten years,  using
         the  straight-line  method and  commencing  at the time the patents are
         issued, trademarks are registered or the license is acquired.

         NET EARNING (LOSS) PER SHARE

         Basic and diluted net loss per share information is presented under the
         requirements  of SFAS No. 128,  EARNINGS PER SHARE.  Basic net loss per
         share is computed by dividing net loss by the weighted  average  number
         of shares of common  stock  outstanding  for the  period,  less  shares
         subject  to  repurchase.  Diluted  net  loss  per  share  reflects  the
         potential   dilution  of   securities  by  adding  other  common  stock
         equivalents,  including  stock  options,  shares subject to repurchase,
         warrants  and  convertible  preferred  stock,  in the  weighted-average
         number of common  shares  outstanding  for a period,  if dilutive.  All
         potentially   dilutive   securities   have  been   excluded   from  the
         computation, as their effect is anti-dilutive.

         FAIR VALUE OF FINANCIAL INSTRUMENTS

         The carrying amount of cash, accounts receivable,  accounts payable and
         accrued expenses ae considered to be representative of their respective
         fair  values  because  of the  short-term  nature  of  these  financial
         instruments.  The carrying  amount of the notes  payable and  long-term
         debt are reasonable  estimates of fair value as the loans bear interest
         based on market rates currently available for debt with similar terms.

                                      F-5
<PAGE>

                          INTERNET VENTURE GROUP, INC.
                          Notes to Financial Statements
                           March 31, 2000 (Unaudited)

NOTE 2 - PROPERTY AND EQUIPMENT:

         Property and equipment consist of the following:

                  Manufacturing Equipment                              $105,513
                  FURNITURE & EQUIPMENT                                  29,208
                                                                        --------
                       Total                                            134,721
                  LESS: ACCUMULATED DEPRECIATION                       ( 79,175)
                                                                       ---------
                                                                       $ 55,546

         Depreciation expense for 1999 was $21,473.

NOTE 3 -OTHER ASSETS:

         Other assets consist of the following:

                  Patents                                              $320,106
                  Licensing Agreement                                    31,250
                  Trademarks                                             11,398
                  Deposits                                               15,360
                  ORGANIZATION COSTS                                      2,500
                                                                      ---------
                       Total                                            380,614
                  LESS: AMORTIZATION EXPENSE                           ( 84,642)
                                                                       ---------
                                                                       $295,972

         Amortization expense for 1999 was $24,800.

<TABLE>
<CAPTION>
NOTE 4 - NOTES PAYABLE:

         Following is a summary of notes payable at December 31, 1999:

<S>                                                                                     <C>
                                                                                        AMOUNT
                                                                                        ------

         Borrowings  against a $30,000 line of credit agreement with a financial
         institution  collateralized  by a general security  agreement  covering
         substantially all assets of the Company. The note bears interest at two
         points above the bank's prime rate (8.25% at December  31,  1999).  The
         note is payable on demand;  however, if no demand is made it matures on
         February 2001.                                                                   $ 22,985

         Note payable to a financial institution, payable on demand; however, if
         no demand is made, payable in monthly  installments of $425,  including
         interest at 9.75%,  through  February  2001.  Certain  equipment  and a
         personal guaranty by the Company's officers
         collateralize the note.                                                             5,628

         Note payable to an individual shareholder, interest at 7%, payable in
         full - March 2000.                                                                  4,000

         Note payable to an individual shareholder, interest at 8%,payable
         in full - April 2000.                                                             201,043

         Note payable to an individual shareholder, interest at 10.5%, payable
         in full - June 2000.                                                               96,000
                                                                                          ---------
                                                                                          $329,656
</TABLE>

                                      F-6
<PAGE>

                          INTERNET VENTURE GROUP, INC.
                          Notes to Financial Statements
                           March 31, 2000 (Unaudited)

NOTE 5 - INCOME TAXES

       There has been no provision for U.S.  federal,  state,  or foreign income
       taxes for any period  because  the  Company  has  incurred  losses in all
       periods and for all jurisdictions.

       Deferred   income  taxes   reflect  the  net  tax  effects  of  temporary
       differences  between the carrying  amounts of assets and  liabilities for
       financial  reporting  purposes  and  the  amounts  used  for  income  tax
       purposes. Significant components of deferred tax assets are as follows:

         Deferred tax assets

            Net operating loss carryforwards                  $2,073,915
            VALUATION ALLOWANCE FOR DEFERRED TAX ASSETS       (2,073,915)
                                                              ----------
         NET DEFERRED TAX ASSETS                              $        -
                                                              ==========

       Realization of deferred tax assets is dependent upon future earnings,  if
       any, the timing and amount of which are uncertain.  Accordingly,  the net
       deferred tax assets have been fully offset by a valuation  allowance.  As
       of December 31, 1999, the Company had net operating loss carryforwards of
       approximately   $2,073,915  for  federal   income  tax  purposes.   These
       carryforwards,  if not utilized to offset  taxable income begin to expire
       in  2003.  Utilization  of the  net  operating  loss  may be  subject  to
       substantial  annual  limitation due to the ownership  change  limitations
       provided by the Internal Revenue Code and similar state  provisions.  The
       annual  limitation  could result in the  expiration  of the net operating
       loss before utilization.

NOTE 6 - COMMITMENTS AND CONTINGENCIES

         LEASE COMMITMENTS

         In December 1997, the Company entered into a five-year  operating lease
         commencing  December  1997 for office and  warehouse  space  located in
         Houston, Texas. Future minimum lease commitments for all building lease
         approximate  the following  for each of the five years ending  December
         31,  2004.,  and  thereafter:  2000  -  $75,943;  2001  -$78,386;  2002
         -$73,907; and none thereafter. Rent expense for the year ended December
         31, 1999 was $73,296.

NOTE 7 - STOCK OPTIONS:

         The Company has granted  options to purchase  shares of common stock to
         employees,  directors,  consultants,  and  investors at prices not less
         than  100% of the fair  market  value,  as  determined  by the Board of
         Directors,  at date of  grant.  Options  generally  become  exercisable
         ratably over a five-year  period,  commencing one year from the date of
         grant and have a maximum term of five years. A summary of the Company's
         stock options is presented below:

                                                                Weighted-Average
                                              Number              Exercise Price
                                             of Shares                 per Share
                                             ---------          ----------------
         Granted.....................        719,000                  $.58
         Exercised...................              0                   .00
         CANCELED...................               0                   .00

         Balance , December 31, 1998...      719,000                   .58
         Granted....................         510,000                   .68
         Exercised...............                  0                   .00
         CANCELED..................          (65,000)                  .63
                                           ----------                -----
         BALANCE, DECEMBER 31, 1999....... 1,164,150                  $.62
                                           ==========                =====


                                      F-7
<PAGE>

                          INTERNET VENTURE GROUP, INC.
                          Notes to Financial Statements
                           March 31, 2000 (Unaudited)

NOTE 7 - STOCK OPTIONS:CONTINUED

         The fair value of each stock option was  estimated on the date of grant
         using  the  Black-Scholes   option-pricing  model  with  the  following
         weighted-average  assumptions:  an  expected  life of four  (4)  years,
         expected volatility of 87%, and a dividend yield of 0.%

NOTE 8 - GOING CONCERN:

          The accompanying financial statements have been prepared in conformity
          with generally  accepted  accounting  principles,  which  contemplates
          continuation of the Company as a going concern.  However,  the Company
          has sustained a substantial operation loss . As shown in the financial
          statements, the Company incurred a net loss of $279,181 for 1999 and a
          losss of $81,157 for the quarter  ended March 31,  2000.  At March 31,
          2000,  current  liabilities  exceed current assets by $213,462.  These
          factors  indicate  substantial  doubt about the  Company's  ability to
          continue  as a going  concern.  The future  success of the  Company is
          likely  dependent  on its  ability  to obtain  additional  capital  to
          develop its  proposed  products  and  ultimately,  upon its ability to
          attain future  profitable  operations.  There can be no assurance that
          the Company will be  successful in obtain such  financing,  or that it
          will attain positive cash flow from operations. F-8


<PAGE>


ITEM 2. MANAGEMENTS  DISCUSSION AND ANALYSIS OF FINANCIAL  CONDITION AND RESULTS
OF OPERATIONS

RESULTS OF OPERATIONS

The Company has experienced $131,777 expenses for the three month period in 2000
and none in 1999.  The Company had revenues for the period in 2000 of $84,195 as
a result of the  acquisition of Gee Whiz.com and none in 1999. The Company had a
loss of $81,157 for the period in 2000 and none in 1999 prior to the acquisition
of Gee Whiz.com.  The Company will continue to have losses until adequate income
can be achieved to meet expenses.  While the company is seeking  capital sources
for investment;  there is no assurance that sources can be found.

LIQUIDITY AND CAPITAL RESOURCES

The Company  had a deficit in cash  capital at the end of the period and current
liabilities  exceeded  assets by $552,502.  The Company will be forced to either
borrow  or make  private  placements  of stock in order to fund  operations.  No
assurance  exists as to the ability to achieve loans or make private  placements
of stock.

                           PART II - OTHER INFORMATION

ITEM 1.    LEGAL PROCEEDINGS

           None

ITEM 2.    CHANGES IN SECURITIES

           INSERT

ITEM 3.    DEFAULT UPON SENIOR SECURITIES

           None

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

           None

ITEM 5.    OTHER INFORMATION

           None

ITEM 6.    EXHIBITS AND REPORTS ON FORM 8-K

           Reports on Form 8-K were filed on:             April 17,2000

                                                          _____________________
<PAGE>


                            INTERNET VENTURE GROUP, INC., INC., INC.
                          (A Development Stage Company)


                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.



                                    INTERNET VENTURE GROUP, INC., INC., INC.



Date: May 31  , 2000                /s/Elorian Lauders
                                    --------------------
                                       Elorian Lauders, President