LASV ENTERPRISES INC
10QSB, 2000-09-05
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                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

                   [X] QUARTERLY REPORT PURSUANT TO SECTION 13
               OR 15(d) OF THE SECURITIES AND EXCHANGE COMMISSION

                  For the quarterly period ended June 30, 2000

                                       OR

               [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF
                      THE SECURITIES EXCHANGE ACT OF 1934.

          For transition period from _______________ to _______________


                        Commission file number 0-22310

                             LASV ENTERPRISES, INC.
                             ----------------------
              (Exact name of small business issuer in its charter)

               DELAWARE                                 33-0564327
    (State or other jurisdiction of                 (I.R.S. Employer
     incorporation or organization)               Identification No.)


         201 1736 152nd Street, Surrey, British Columbia Canada V4A 4N4
         --------------------------------------------------------------
                 (Address of principal executive offices)  (Zip Code)

Issuer's telephone number, including area code:    (604) 541-6253
                                                   --------------


                    915 WHITBY COURT SUGARLAND, TEXAS 77479
                (Former address if changed since the last report)

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.
YES   [ X   ]     NO   [     ]

As of June 30, 2000, there were 15,559,233 shares of common stock outstanding.

Transitional Small Business Disclosure Format (check one):
                          YES   [   ]     NO   [X]

<PAGE>



                             LASV ENTERPRISES, INC.
                         (A Development Stage Company)

                                           INDEX

Part I.  Financial Information

Item 1:  Financial Statements

          Balance Sheet as of June 30, 2000                             2

          Statement of Operations and Retained Deficit for the
          nine months and three months ended June 30, 2000              3

          SUPPLEMENTARY INFORMATION:
           Schedule of Operating Expenses for the nine months
           and three months ended June 30, 2000                         4

          Note to Financial Statements                                  5

Item 2.  Management's Discussion and Analysis of Financial Condition
         and Results of Operations                                      6-7

Part II. OTHER INFORMATION

Item 1.  Legal Proceedings                                              8

Item 2.  Change in Securities and Use of Proceeds                       8

Item 3.  Defaults Upon Senior Securities                                8

Item 4.  Submission of Matters to a Vote of Security Holders            8

Item 5.  Other Information                                              8

Item 6.  Exhibits and Reports on Form 8-K                               8

SIGNATURES                                                              9

                                       1


<PAGE>
Part I.  Financial Information

Item 1:  Financial Statements

                             LASV ENTERPRISES, INC.
                       (FORMERLY LAS VEGAS AIRLINES, INC.)

                                  BALANCE SHEET

                                  JUNE 30, 2000
                                   (UNAUDITED)

                                     ASSETS

CURRENT ASSETS:
     Accounts Receivable                                   $           15,000
     Investment in Divest Management, Inc.                          2,825,000
     Investment in SilverHawk Development Corp.                     1,000,000
                                                            ------------------

TOTAL ASSETS                                               $        3,840,000
                                                            ==================


                     LIABILITIES AND STOCKHOLDERS' (DEFICIT)

CURRENT LIABILITIES:
     Note Payable-Divest Management, Inc.                  $        1,950,000

     Shareholders Loans                                             2,501,944

STOCKHOLDERS' (DEFICIT):
     Preferred Stock, $.001 par value, 1,000,000
      shares authorized, no shares issued and
      outstanding

     Common Stock - $.001 par value, 100,000,000
      shares authorized, 15,559,233 shares issued
      and outstanding                                                  15,559

     Additional Paid In Capital                                       217,530
     Retained Earnings (Deficit)                                     (845,033)
                                                            ------------------

             Total Stockholders' (Deficit)                           (611,944)
                                                            ------------------


TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT)              $        3,840,000
                                                            ==================

                                       2
<PAGE>


                             LASV ENTERPRISES, INC.
                       (FORMERLY LAS VEGAS AIRLINES, INC.)

                  STATEMENT OF OPERATIONS AND RETAINED DEFICIT
            FOR THE NINE MONTHS AND THREE MONTHS ENDED JUNE 30, 2000
                                   (UNAUDITED)


                                                            AMOUNT
                                                      -------------------

REVENUES                                              $                0

OPERATING EXPENSES - Schedule I                                  623,546
                                                      -------------------

NET (LOSS)                                                      (623,546)

RETAINED DEFICIT, BEGINNING OF PERIOD                           (221,487)
                                                      -------------------


RETAINED DEFICIT, END OF PERIOD                       $         (845,033)
                                                      ===================





                                       3

<PAGE>
                            SUPPLEMENTARY INFORMATION

                             LASV ENTERPRISES, INC.
                       (FORMERLY LAS VEGAS AIRLINES, INC.)

                         SCHEDULE OF OPERATING EXPENSES

            FOR THE NINE MONTHS AND THREE MONTHS ENDED JUNE 30, 2000
                                   (UNAUDITED)

                                                            AMOUNT
                                                       ----------------


Advertising                                            $         6,187
Consulting                                                     350,250
Licenses, Fees and Taxes                                         1,413

Professional Fees                                               95,320
Rent                                                             9,706
Salaries                                                        37,602

Telephone                                                          759
Travel, Entertainment and Promotion                            122,309
                                                       ----------------

         Total Operating Expenses                      $       623,546
                                                       ================




                                       4
<PAGE>

                             LASV ENTERPRISES, INC.
                       (FORMERLY LAS VEGAS AIRLINES, INC.)

NOTE: A Statement of Cash Flows has not been included.  At this time there is no
cash flow in the current acquisitions.




                                       5

<PAGE>


Item 2:  Management's Discussion and Analysis or Plan of Operations

MANAGEMENT'S  DISCUSSION  AND ANALYSIS OF RESULTS OF  OPERATIONS  AND  FINANCIAL
CONDITION for the period April 1, 2000 to June 30, 2000.

On May 4, 2000, the  shareholders of the Company approved a consolidation of the
Company's   common   shares  on  the  basis  of  one  new  share  for  each  six
preconsolidation  shares.  This share  consolidation  received approval from the
State  of  Delaware  on May 8,  2000.  A new  CUSIP  number  was  given  to LASV
Enterprises, Inc. The new CUSIP number is 518136 10 6.

On May 10, 2000, LASV Enterprises, Inc. announced the acquisition of 100% of the
issued shares of 583354 B.C. Ltd. for a consideration  of 12 million  restricted
shares of LASV Enterprises, Inc. 583354 B.C. Ltd. has interests in the following
projects:

1.   Final  stage  negotiations  or  the  acquisition  of a  resort  and  casino
     development property located in the Dominican Republic.

2.   An agreement  with  Goodridge  and  Associates  of  California  to complete
     funding and bank financing for the resort / casino project,  and to provide
     liaison with contractors and government agencies to complete the project.

3.   Final stage  negotiations  to purchase an airline  based in New York having
     gross annual sales of approximately $70,000,000.

4.   Approval  of  $12,000,000  financing  to be used  for the  purchase  of the
     airline.

5.   Long term contracts with  qualified  individuals to provide  management for
     the airline.

6.   A long term  contract with Mr. Allan Davis to serve as CFO for the Company.
     Mr. Allan brings extensive experience with him to this position.

On  May  30,  2000,  LASV  Enterprises,  Inc.  announced  it had  completed  the
acquisition of the Resort / Casino development in the Dominican Republic.

LASV Enterprises,  Inc. announced the appointment of Mr. Patrick  Strasburger as
President  and CEO.  Mr.  Strasburger's  background  includes 20 years of senior
management experience with Continental Airlines.

On June 26,  2000,  the  Company  announced  it had  finalized  negotiations  to
purchase  a  majority  interest  (75.1%)  in the New  York  based  airline.  The
acquisition was subject to a 30 day due diligence period, and to approval by the
Department of Transportation and the Federal Aviation Agency. To date the seller
has not executed the purchase agreement.


                                       6

<PAGE>

DISCUSSION OF SUBSEQUENT EVENTS for the period July 1, 2000 to August 17, 2000.

On August 7, 2000, the Company announced the Dominican  Republic  government has
granted preliminary casino licenses with respect to the Cabarete Bay development
property.

On August 7, 2000,  the Company  announced  it has  completed  an  agreement  to
acquire   SilverHawk   Development   Corporation,   a  privately   held  company
incorporated in Nevada.  SilverHawk  Development  Corporation is a hotel, resort
and vacation ownership  development company with developments in China,  Mexico,
Belize, Cook Islands, Hawaii and Florida. Under the agreement the Company agreed
to  change  its  name  to  SilverHawk  International  Corporation.  The  Company
appointed  the  President  of  SilverHawk  Development  Corporation,  Mr. Von G.
Batesole, to its Board of Directors.

On August 14, 2000, the Company  announced it had consummated the acquisition of
100% of the issued  shares of  SilverHawk  Development  Corporation.  Mr. Von G.
Batesole  will serve as the interim  chairman  of the Board of the new  combined
entity.  Application  has  been  made  by the  Company  to  change  its  name to
SilverHawk International Corporation.

On August 15, 2000, the Company  announced that in addition to Mr. Von Batesole,
Mr Peter  Gallic and Mr.  Leonard  Malcolm  had been  appointed  to the Board of
Directors.  All three are members of the  SilverHawk  Development  Corporation's
Board of Directors.  Mr. Gallic is a financial  consultant  with a background in
financial consulting,  project development and manufacturing.  Mr. Malcolm has a
background in finance.

On August 17, 2000,  the Company  announced the addition of Mr. John G. Chupa to
the Board of Directors.  Mr. Chupa is President of Chupa & Alberti,  P.C.  which
specializes in  intellectual  property,  corporate and commercial  law. The firm
serves as General Counsel for SilverHawk Development Corporation.

As of September 1, 2000, the Board of Directors of LASV Enterprises is comprised
of the following individuals:

          Von Batesole (Interim Chairman)
          Gilbert Matsumoto
          John Chupa
          Peter Gallic
          Allan Davis
          Robert Abbott
          Patrick Strasburger
          Leonard Malcolm



                                       7
<PAGE>
Item 1.  Legal Proceedings

     None

Item 2.  Change in Securities and Use of Proceeds

     On May 4, 2000, the shareholders of the Company approved a consolidation of
the  Company's  common  shares  on the  basis  of one new  share  for  each  six
preconsolidation  shares.  This share  consolidation  received approval from the
State  of  Delaware  on May 8,  2000.  A new  CUSIP  number  was  given  to LASV
Enterprises, Inc. The new CUSIP number is 518136 10 6.

     On May 10, 2000, LASV Enterprises,  Inc.  announced the acquisition of 100%
of the issued  shares of 583354  B.C.  Ltd.  for a  consideration  of 12 million
restricted shares of LASV Enterprises, inc.

Item 3.  Defaults Upon Senior Securities.

     None.

Item 4.  Submission of Matters to a Vote of Security Holders.

     See Item 2 above.

Item 5.  Other Information.

     None.

Item 6.  Exhibits and Reports on Form 8-K.

      (a)   Exhibits

       Exhibit No.      Description
       ----------       -----------
           27           Financial Data Schedule

      (b)   Reports on Form 8-K

     Registrant  filed a  Current  Report  dated  May 10,  2000  to  report  (1)
registrant is now controlled by Net Interest, Inc., a Texas corporation; and (2)
acquisition of the assets, subject to liens and liabilities,  of a company owned
by Net Interest and others.  The assets  included the rights to a resort project
in the Dominican Republic and various other rights. Registrant also reported the
resignation of former  officers and directors and the naming of new officers and
directors.

                                       8
<PAGE>



                                   SIGNATURES

     In  accordance  with Section 13 of the Exchange  Act,  the  registrant  has
caused this report to be signed on its behalf by the undersigned,  hereunto duly
authorized.

                               LASV ENTERPRISES, INC.



Dated:  September 5, 2000       By:  Robert Abbott
                                  ---------------------------------------
                                   Robert Abbott
                                   Director




                                       9


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