UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 0)*
WORLDQUEST NETWORKS, INC.
-------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, Par Value $0.10
-------------------------------------------------------------------------------
(Title of Class of Securities)
98156W 10 5
-------------------------------------------------------------------------------
(CUSIP Number)
February 4, 2000
-------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Settlement)
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).
<PAGE>
SCHEDULE 13G
CUSIP No. 98156W 10 5 Page 2 of 5 Pages
------------ --------- ---------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
B. Michael Adler and Eagle Venture Capital LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
Number of 5 SOLE VOTING POWER
Shares
Beneficially 2,676,478
Owned by -------------------------------------------------------
Each
Reporting 6 SHARED VOTING POWER
Person
With 2,676,478
-------------------------------------------------------
7 SOLE DISPOSITIVE POWER
2,676,478
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,676,478
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
B. Michael Adler - 2,676,478
Eagle Venture Capital - 2,666,478
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
47.7%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN, 00
- --------------------------------------------------------------------------------
<PAGE>
Item 1.
(a) Name of Issuer:
WorldQuest Networks, Inc.
(b) Address of Issuer's Principal Executive Offices:
16990 Dallas Parkway
Suite 220
Dallas, TX 75248
Item 2.
(a) Name of Person Filing: B. Michael Adler and Eagle Venture
Capital, LLC
(b) Business Address: 16690 Dallas Parkway, Suite 220, Dallas, Texas
(c) Citizenship: U.S.A.
(d) Title of Class of Securities: WorldQuest Networks Common Stock
(e) CUSIP Number 98156W 10 5
Item 3. Not applicable
Item 4. Ownership
(a) Amount beneficially owned: 2,676,478 share of which 2,666,478 are owned by
Eagle Venture Capital, LLC, and 10,000 shares are represented by stock options
issued to B. Michael Adler. Mr. Adler owns a controlling interest in Eagle
Venture Capital, LLC.
(b) Percent of class: 47.7%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote 2,676,478.
(ii) Shared power to vote or to direct the vote 2,676,478 .
(iii) Sole power to dispose or to direct the disposition of 2,676,478.
(iv) Shared power to dispose or to direct the disposition of
2,676,478 .
Item 5. Ownership of Five Percent or Less of a Class
Not applicable
Item 6. Ownership of More Than Five Percent on Behalf of Another Person
Not applicable
<PAGE>
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.
See Exhibit A.
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification
(a) Not applicable
(b) 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 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.
After reasonable inquiry and to the best of my information and belief,
I certify that the information set forth in this statement is true, complete,
and correct.
February 11, 2000 Eagle Venture Capital, LLC
- -----------------
Date
By: /s/ B. Michael Adler
---------------------
B. Michael Adler
/s/ B. Michael Adler
---------------------
B. Michael Adler
EXHIBIT A
Identification of Group
Eagle Venture Capital, LLC is the owner of record of 2,666,478 shares
of common stock.
B. Michael Adler is the owner of two stock options to purchase a total
of 10,000 shares of common stock. Mr. Adler owns a controlling interest in Eagle
Venture Capital, LLC.
