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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. 2 )*
VERIDA INTERNET CORP.
(Name of Issuer)
Common Stock, $.00001 par value
(Title of Class of Securities)
923427108
(CUSIP Number)
July 19, 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 6
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1. Names of Reporting Persons. PETER LORETTO
I.R.S. Identification Nos. of Above Persons (entities only)
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2. Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [ ]
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3. SEC Use Only
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4. Citizenship Canada
Number of Shares 5. Sole Voting Power 480,900
Beneficially ----------------------------------------
Owned by Each 6. Shared Voting Power 0
Reporting -----------------------------------------
Person With 7. Sole Dispositive Power 480,900
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8. Shared Dispositive Power 0
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9. Aggregate Amount Beneficially
Owned by Each Reporting Person 480,900
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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
4.94%
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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 (a) [ ]
(See Instructions) (b) [ ]
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3. SEC Use Only
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4. Citizenship or Place of Incorporation British Columbia
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CUSIP No. 923427108 13G Page 3 of 6
Number of Shares 5. Sole Voting Power 480,900
Beneficially ----------------------------------------
Owned by Each 6. Shared Voting Power 0
Reporting ----------------------------------------
Person With 7. Sole Dispositive Power 480,900
-----------------------------------------
8. Shared Dispositive Power 0
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9. Aggregate Amount Beneficially
Owned by Each Reporting Person 480,900
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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
4.94%
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12. Type of Reporting Person (See Instructions) CO
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CUSIP No. [N/A]
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.
(a) 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."
(b) 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 $ .00001.
(e) The CUSIP number of the Common Stock is 923427108
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CUSIP No. 923427108 13G Page 4 of 6
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).
(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 9,733,308 shares of Common Stock issued and outstanding).
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CUSIP No. 923427108 13G Page 5 of 6
(a) Amount beneficially owned: Mr. Peter Loretto beneficially owns
480,900 shares which are held by his wholly owned company, PCL
Holdings Ltd.
(b) Percent of class: 4.94%
(c) Number of shares as to which the Reporting Persons has:
(i) Sole power to vote or to direct the vote: 480,900
(ii) Shared power to vote or to direct the vote: 0
(iii) Sole power to dispose or to direct the disposition
of: 480,900
(iv) Shared power to dispose or to direct the
disposition of: 0
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 /_X_/.
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.
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CUSIP No. 923427108 13G Page 6 of 6
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: July 25, 2000
/s/ Peter Loretto
PETER LORETTO
PCL HOLDINGS LTD.
By: /s/ Peter Loretto
PETER LORETTO: PRESIDENT
