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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
VERIDA INTERNET CORP.
(Name of Issuer)
Common Stock, $0.00001 par value
(Title of Class of Securities)
923427108
(CUSIP Number)
February 15, 2000
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which
this Schedule is filed:
[ ] Rule 13d-1(b)
[ X ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent
amendment containing information which would alter disclosures
provided in a prior cover page.
The information required on the remainder of this cover page shall
not be deemed to be "filed" for the purpose of Section 18 of the
Securities Exchange Act of 1934 ("Act") or otherwise subject to the
liabilities of that section of the Act but shall be subject to all
other provisions of the Act (however, see the Notes).
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CUSIP No. 923427108 13G Page 2 of 5
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Names of Reporting Persons. PETER LORETTO
I.R.S. Identification Nos. of
Above Persons (entities only)
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Check the Appropriate Box if a Member of a Group
(See Instructions) (a) [ ] (b) [ ]
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SEC Use Only
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Citizenship Canada
Number of Shares 5. Sole Voting Power 524,900
Beneficially -------------------------------------------
Owned by Each 6. Shared Voting Power 0
Reporting -------------------------------------------
Person With 7. Sole Dispositive Power 524,900
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8. Shared Dispositive Power 0
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9. Aggregate Amount Beneficially Owned by
Each Reporting Person 524,900
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10. Check if the Aggregate Amount in Row
(9) Excludes Certain Shares (See Instructions) [ ]
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11. Percent of Class Represented by Amount in Row 9 5.6%
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12. Type of Reporting Person (See Instructions) IN
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CUSIP No. [N/A]
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1. Names of Reporting Persons. PCL HOLDINGS LTD.
I.R.S. Identification Nos.
of Above Persons (entities only) [N/A]
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2. Check the Appropriate Box if a Member of a Group
(See Instructions) (a) [ ] (b) [ ]
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3. SEC Use Only
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4. Citizenship or Place of Incorporation British Columbia
Number of Shares 5. Sole Voting Power 522,900
Beneficially -------------------------------------------
Owned by Each 6. Shared Voting Power 0
Reporting -------------------------------------------
Person With 7. Sole Dispositive Power 522,900
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8. Shared Dispositive Power 0
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CUSIP No. 923427108 13G Page 3 of 5
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9. Aggregate Amount Beneficially Owned
by Each Reporting Person 522,900
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10. Check if the Aggregate Amount in Row (9) Excludes
Certain Shares (See Instructions)
[ ]
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11. Percent of Class Represented by Amount in Row 9 5.58%
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12. Type of Reporting Person (See Instructions) CO
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CUSIP No. [N/A]
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Item 1.
(a) The name of the issuer is VERIDA INTERNET CORP.. (the "Issuer").
(b) The principal executive office of the Issuer is located at 50
California Street Suite 1500, San Francisco, California 94111
Item 2.
This statement is being filed by: (a) Peter Loretto, an individual
residing in British Columbia and (b) PCL Holdings Ltd. a privately held
company which is incorporated in British Columbia and is wholly owned
by Mr. Peter Loretto (the individual and entity referred to above are
collectively called the "Reporting Persons".
The residential address of the Reporting Persons is:
350-6165 HWY. 17
Delta, B.C. V4K 5B8
(c) Citizenship of Reporting Persons: see item 4 above
(d) This class of securities to which this statement relates is Common
Stock of the Issuer with a par value of $0.00001.
(e) The CUSIP number of the Common Stock is 923427108
Item 3.
If this statement is filed pursuant to rule 240.13d-1(b), or
240.13d-2(b) or (c), check whether the person filing is a:
(a) ___ Broker or dealer registered under section 15 of the Act (15
U.S.C.78o).
(b) ___ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
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CUSIP No. 923427108 13G Page 4 of 5
(c) ___ Insurance company as defined in section 3(a)(19) of the Act
(15U.S.C. 78c).
(d) ___ Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e) ___ An investment adviser in accordance with 240.13d-
1(b)(1)(ii)(E).
(f) ___ An employee benefit plan or endowment fund in accordance with
240.13d-1(b)(1)(ii)(F).
(g) ___ A parent holding company or control person in accordance with
240.13d-1(b)(1)(ii)(G)
(h) ___ A savings association as defined in section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813).
(i) ___ A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3).
(j) ___ Group, in accordance with section 240.13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to 240.13d-1(c), check this
box. [ X ].
Item 4. Ownership.
Provide the following information regarding the aggregate number
and percentage of the class of securities of the issuer identified in
Item 1.
The Reporting Persons own beneficially the respective percentages
and numbers of Common Shares set forth below (on the basis of 9,367,237
shares of Common Stock issued and outstanding).
(a) Amount beneficially owned: Mr. Peter Loretto benefically owns
524,900 shares of which number 522,900 shares are held by his
wholly owned company, PCL Holdings Ltd., while the remaining 2,000
are directly owned by Mr. Peter Loretto himself.
(b) Percent of class: 5.6%
(c) Number of shares as to which the Reporting Persons has:
(i) Sole power to vote or to direct the vote: 524,900
(ii) Shared power to vote or to direct the vote: 0
(iii) Sole power to dispose or to direct the disposition of:
524,900
(iv) Shared power to dispose or to direct the disposition of:
0
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CUSIP No. 923427108 13G Page 5 of 5
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner
of more than five percent of the class of securities, check the
following [ ].
Item 6. Ownership of More than Five Percent on Behalf of Another
Person
Not applicable.
Item 7. Identification and Classification of the Subsidiary which
Acquired the Security Being Reported on by the Parent holding
Company
Not applicable.
Item 8. Identification and Classification of Members of the group
Not applicable.
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and
are not held in connection with or as a participant in any transaction
having that purpose or effect.
Dated: February 15, 2000
PETER LORETTO
PCL HOLDINGS LTD.
BY: /s/ Peter Loretto
PETER LORETTO, PRESIDENT
