SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

    Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934
       Date of Report (Date of earliest event recorded) December 31, 1998


                         RAVEN MOON INTERNATIONAL, INC.
              ---------------------------------------------------
             (Exact name of registrant as specified in its charter)


           Florida                    000-24727                59-3485779
------------------------------      --------------          --------------------
       (State or other             (Commission File          (IRS Employer
jurisdiction of incorporation)         Number)              Identification No.)


250 International Parkway, Suite 114, Heathrow, FL                 32746
--------------------------------------------------                ---------
(Address of principal executive offices)                         (Zip Code)

Registrant's telephone number, including area code 407-805-9131


 Ybor City Shuttle Service, Inc., 1726 E. 7th Avenue, Suite 11, Tampa, FL 33605
--------------------------------------------------------------------------------
         (Former name or former address, if changed since last report.)

<PAGE>


Item 2.  Acquisition or Disposition of Assets.

     Effective  November 3, 1998, the shareholders of Ybor City Shuttle Service,
Inc.  approved  and adopted an Agreement  and Plan of Merger with  International
Resorts and Entertainment  Group, Inc., and Raven Moon Entertainment,  Inc., all
Florida  based  companies.  Upon  completion  of said Merger,  Ybor City Shuttle
Service,  Inc.  elected  to adopt  the name of Raven  Moon  International,  Inc.
retaining its offices in Lake Mary, Florida.

     The surviving corporation, Raven Moon International, Inc., amended articles
on  December  31,  1998,  to  increase  the  capitalization  from Fifty  Million
(50,000,000) shares of Common Stock to One Hundred Million  (100,000,000) Shares
of  Common  Stock  having a par  value of  $0.0001  per  share.  The  authorized
Preferred Stock shall remain at Fifty Million (50,000,000) shares having a value
of $0.0001 per share.

     The  acquisition  and merger was  accomplished by an exchange of all issued
and outstanding shares as follows:  (a) Upon effective date, each share of Raven
Moon Entertainment,  Inc.'s common stock, issued and outstanding,  was converted
into and exchanged  for One (1) share of common stock of the surviving  company,
Raven Moon  International,  Inc.  (b) Each share of  International  Resorts  and
Entertainment  Group,  Inc.'s common stock, issued and outstanding was converted
into and exchanged  for  One-Fifteenth  (1/15) shares of the surviving  company,
Raven Moon  International,  Inc.  the  amount of shares due to each  shareholder
shall be rounded to the nearest whole number of shares (c) the tendered offer at
the time of the merger was made at Seventy  Five Cents  ($.75) per share and the
market price of the surviving  company was established for its restricted common
stock at Twelve Dollars ($12.00) per share.

     Raven Moon International, Inc. shall continue to delve into a wide range of
products  and  services  and  to  further   develop  its   television  and  film
productions,  transportation  systems catering to the Metropolitan  areas of the
country  (currently  existing in Tampa), as well as the manufacturing of hearing
devices  innovatively  marketed through the dental industry having the potential
profit of Nine Million ($9,000,000) Dollars net over the next five years.

<PAGE>


Item 7.  Financial Statements and Exhibits.

(a) Financial Statements:

Consolidated Balance Sheet as of September 30, 1998

Consolidated Income Statement as of September 30, 1998

Consolidated Statement of Retained Earning as of September 30, 1998

Consolidated Statement of Cash Flows as of September 30, 1998

Notes to Consolidated Financial Statements

(b) Exhibits

     Plan of Merger dated October 21, 1998

     Articles of Merger by and among Raven Moon  Entertainment,  Inc., Ybor City
Shuttle Service,  Inc. and International  Resorts and Entertainment  Group, Inc.
dated December 18, 1998

     November 19, 1998 Press Release of International  Resorts and Entertainment
Group, Inc.



                                   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 hereunto duly authorized.

                                            RAVEN MOON INTERNATIONAL, INC.


Date:        March 29, 1999                  By: /s/ Wallace L. Strawder
                                                 -------------------------------
                                                 Wallace L. Strawder, President

<PAGE>
                                     ASSETS
                                     ------

Cash - Operating                                                  30,030.12
Contract Rcvble - NAmer                                        1,000,000.00
Due from Employees                                                 3,245.00
Other Receivables                                                205,132.99
                                                            ---------------
        Total Current Assets                                   1,247,408.11

Furniture & Fixtures                                               5,148.00
Accumulated Depreciation                                            (949.00)
                                                            ---------------
        Total Fixed Assets                                         4,199.00

Prepaid Expenses                                                     240.00
Diposits                                                           2,546.00
Organization Costs                                                19,539.00
Amortization-Org. Costs                                           (2,930.85)
Royalty Rights                                                    50,000.00
Production Rights                                                  3,000.00
                                                            ---------------

        Total Other Assets                                        72,394.15
                                                            ---------------

                Total Assets                                   1,324,001.26
                                                            ===============

                              LIABILITIES & EQUITY
                              --------------------

Accrued Liabilites                                               195,056.65
Accounts Payable                                                   1,226.65
Payroll Taxes Payable                                              4,455.38
Fed. Income Tax Payable                                           20,098.00
                                                            ---------------

        Total Current Liabilities                                220,836.68


Total Long Term Liabilities                                            0.00
                                                            ---------------
        Total Liabilities                                        220,836.68

Common Stock                                                     913,060.18
Additional Paid-in Capital                                       455,019.00
Retained Earnings                                               (338,488.04)
Current Earnings                                                  73,573.44
                                                            ---------------

        Total Equity                                           1,103,164.58
                                                            ---------------
                Total Liab. & Equity                           1,324,001.26
                                                            ===============


<PAGE>

        YEAR RATIO ............:                       NET REVENUE      9 MONTHS
                                                                          RATIO
================================================================================
INCOME
        Sales                                             56,921.00         4.3
        Marketing Fees                                   146,505.00        11.1
        VMT Fees Earned                                  112,300.00         8.5
        Sale of Vacation Club Rgt                      1,000,000.00        76.0
        Returns & Allowances                                (205.00)        0.0
                                                       ------------        -----
        Net Sales                                      1,315,521.00       100.0

COST OF GOODS SOLD
        Main Fees                                         38,493.04         2.9
        Consultant Fees                                  649,583.67        49.4
        Talent Expenses                                   60,094.90         4.6
        C.R. Lotto Deal                                   40,000.00         3.0
        Supplies                                          63,204.02         4.8
        Marketing Expenses                                19,600.00         1.5
        Advances Paid Out                                 13,425.00         1.0
        Printing                                           6,424.10         0.5
        Other Public Entity Exp                              870.95         0.1
        Freight                                            2,061.23         0.2
                                                       ------------        -----
        Total Cost of Goods Sold                         893,756.91        67.9
                                                       ------------        -----
        Gross Profit                                     421,764.09        32.1

EXPENSES
        Salaries                                          24,157.25         1.8
        Payroll Taxes                                     15,548.28         1.2
        Advertising                                          680.00         0.1
        Amortization                                       2,930.85         0.2
        Auto Expense                                         539.00         0.0
        Automobile Lease                                   8,116.74         0.6
        Bad Debts                                        119,886.45         9.1
        Bank Service Charges                                 530.00         0.0
        Commissions                                       35,500.00         2.7
        Computer Expense                                   9,533.12         0.7
        Contributions                                        600.00         0.0
        Depreciation                                         827.00         0.1
        Director's Fees                                    6,000.00         0.5
        Dues & Subsrcriptions                              1,143.96         0.1
        Employee Benefits                                  1,954.34         0.1
        Equipment Rent                                     8,257.80         0.6
        Insurance                                          9,613.93         0.7
        Legal Fees Expense                                   424.94         0.0

<PAGE>




        YEAR RATIO ............:                      NET REVENUE      9 MONTHS
                                                                        RATIO
================================================================================

        Licenses                                             20.00          0.0
        Mileage Reimbursement                               174.91          0.0
        Office Expense                                    6,790.29          0.5
        Paging Expense                                      249.18          0.0
        Postage                                           8,802.93          0.7
        ProfessionalFees                                 11,776.56          0.9
        Rent                                             23,272.58          1.8
        Repairs & Maintenance                             2,660.62          0.2
        Taxes - Other                                       831.40          0.1
        Telephone                                        10,852.16          0.8
        Temporary Labor                                     624.51          0.0
        Transfer AgentFees                                9,995.32          0.8
        Travel                                            5,798.53          0.4
                                                       -----------    ----------
        Total Expenses                                  328,092.65         24.9
                                                       -----------    ----------
        Net Operating Income                             93,671.44          7.1
                                                       -----------    ----------
OTHER INCOME
                                                       
        Total Other Income                                    0.00          0.0
                                                       -----------    ----------
OTHER EXPENSES
                                                       
        Total Other Expenses                                  0.00          0.0
                                                       -----------    ----------

        Income Before Taxes                              93,671.44          7.1

        Income Taxes                                     20,098.00          1.5
                                                       -----------    ----------
        Net Income                                       73,573.44          5.6
                                                       ===========    ==========

RETAINED EARNINGS (DEFICIT), JANUARY 1, 1998            ($ 338,488)

NET INCOME NINE MONTHS ENDED SEPTEMBER 30, 1998             73,573

RETAINED EARNINGS (DEFICIT), SEPTEMBER 30, 1998         ($ 264,915)
                                                        ==========



<PAGE>



Cash Flows from Operating Activities:
  Net Income                                                        $    73,573
  Adjustments to Reconcile Net
    Income to Net Cash Provided
    by Operating Activities:
      Depreciation and Amortization                                       3,758
      (Increase) Decrease In:
        Receivables                                                   1,163,878
        Prepaid Expenses                                                    240
      Increase (Decrease) In:
        Payables                                                        198,599
                                                                    -----------

Net Cash Applied to Operating Activities                            ($  888,188)

Net Cash From Investing
  Activities:
    Stock Sales                                                     $   903,735
    Paid-in Capital                                                      34,954
                                                                        938,689
                                                                    -----------
Net Cash Applied to Investing
  Activities:
    Organization Costs                                                  (21,039)
                                                                    -----------

Net Increase in
Cash                                                                     29,462

Cash, Beginning of Year                                                   9,568
                                                                    -----------

Cash, End of Year - September 30, 1998                              $    39,030
                                                                    ===========






<PAGE>


                         RAVEN MOON INTERNATIONAL, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                      NINE MONTHS ENDED SEPTEMBER 30, 1998




Note 1 - Summary of Significant Accounting Policies and Other Information:

     Nature of Business:

          Raven Moon International,  Inc. is a diversified company. It is in the
          entertainment  industry,  specifically  producing various music venues
          and television programs.  In addition,  the company is involved in the
          transportation  industry.  The  company  also  markets a hearing  aide
          device and is constantly in search of other  research and  development
          projects.

     Recent Developments:

          The Company  recently changed its name from Ybor City Shuttle Service,
          Inc. to Raven Moon International, Inc. Ybor City Shuttle Service, Inc.
          combined   with   International    Entertainment   Group,   Inc.   and
          International  resorts  &  Entertainment  Group,  inc.  prior  to  the
          corporate  name  change.  Raven Moon  International,  Inc.  intends to
          operate with four subsidiaries.

     Accounts Receivable:

          As of the statement date, there are no accounts receivables considered
          uncollectible.   Bad  debts  are   written  off  as  they  are  deemed
          uncollectible.  For the nine-month period ended September 30, 1998 the
          company has written off $119,886.45 in accounts deemed uncollectible.

     Property and Equipment:

          Property  is  carried  at  cost  and  is  reduced  by  allowances  for
          depreciation  using  accelerated  and  straight-line  methods over the
          estimated useful lives of the assets. Estimated useful lives vary from
          five to ten years.  Gains or losses on the disposition of property are
          recognized in the period in which the assets are disposed.

     Amortization of Organization Costs:

          Amortization of  organization  costs has been computed over a 60-month
          period of time.

     Taxes on Earnings:

          Taxes on earnings are based on the current Internal Revenue Code.
[{"type": "8-K", "sequence": "1", "description": "FORM 8-K", "secsgml_size_bytes": 18379}]
{"company-data": {"conformed-name": "RAVEN MOON INTERNATIONAL INC", "cik": "0001058056", "assigned-sic": "4100", "irs-number": "0", "state-of-incorporation": "FL", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-24727", "film-number": "99579291"}, "business-address": {"street1": "250 INTERNATIONAL PARKWAY", "street2": "SUITE114", "city": "HEATHROW", "state": "FL", "zip": "32746"}, "mail-address": {"street1": "250 INTERNATIONAL PARKWAY", "street2": "STE 114", "city": "HEATHROW", "state": "FL", "zip": "32746"}, "former-company": {"former-conformed-name": "YBOR CITY SHUTTLE SERVICE INC", "date-changed": "19980728"}}
SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

    Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934
       Date of Report (Date of earliest event recorded) December 31, 1998

                         RAVEN MOON INTERNATIONAL, INC.
              ---------------------------------------------------
             (Exact name of registrant as specified in its charter)

           Florida                    000-24727                59-3485779
------------------------------      --------------          --------------------
       (State or other             (Commission File          (IRS Employer
jurisdiction of incorporation)         Number)              Identification No.)

250 International Parkway, Suite 114, Heathrow, FL                 32746
--------------------------------------------------                ---------
(Address of principal executive offices)                         (Zip Code)

Registrant's telephone number, including area code 407-805-9131

 Ybor City Shuttle Service, Inc., 1726 E. 7th Avenue, Suite 11, Tampa, FL 33605
--------------------------------------------------------------------------------
         (Former name or former address, if changed since last report.)
Item 2.  Acquisition or Disposition of Assets.

     Effective  November 3, 1998, the shareholders of Ybor City Shuttle Service,
Inc.  approved  and adopted an Agreement  and Plan of Merger with  International
Resorts and Entertainment  Group, Inc., and Raven Moon Entertainment,  Inc., all
Florida  based  companies.  Upon  completion  of said Merger,  Ybor City Shuttle
Service,  Inc.  elected  to adopt  the name of Raven  Moon  International,  Inc.
retaining its offices in Lake Mary, Florida.

     The surviving corporation, Raven Moon International, Inc., amended articles
on  December  31,  1998,  to  increase  the  capitalization  from Fifty  Million
(50,000,000) shares of Common Stock to One Hundred Million  (100,000,000) Shares
of  Common  Stock  having a par  value of  $0.0001  per  share.  The  authorized
Preferred Stock shall remain at Fifty Million (50,000,000) shares having a value
of $0.0001 per share.

     The  acquisition  and merger was  accomplished by an exchange of all issued
and outstanding shares as follows:  (a) Upon effective date, each share of Raven
Moon Entertainment,  Inc.'s common stock, issued and outstanding,  was converted
into and exchanged  for One (1) share of common stock of the surviving  company,
Raven Moon  International,  Inc.  (b) Each share of  International  Resorts  and
Entertainment  Group,  Inc.'s common stock, issued and outstanding was converted
into and exchanged  for  One-Fifteenth  (1/15) shares of the surviving  company,
Raven Moon  International,  Inc.  the  amount of shares due to each  shareholder
shall be rounded to the nearest whole number of shares (c) the tendered offer at
the time of the merger was made at Seventy  Five Cents  ($.75) per share and the
market price of the surviving  company was established for its restricted common
stock at Twelve Dollars ($12.00) per share.

     Raven Moon International, Inc. shall continue to delve into a wide range of
products  and  services  and  to  further   develop  its   television  and  film
productions,  transportation  systems catering to the Metropolitan  areas of the
country  (currently  existing in Tampa), as well as the manufacturing of hearing
devices  innovatively  marketed through the dental industry having the potential
profit of Nine Million ($9,000,000) Dollars net over the next five years.
Item 7.  Financial Statements and Exhibits.

(a) Financial Statements:

Consolidated Balance Sheet as of September 30, 1998

Consolidated Income Statement as of September 30, 1998

Consolidated Statement of Retained Earning as of September 30, 1998

Consolidated Statement of Cash Flows as of September 30, 1998

Notes to Consolidated Financial Statements

(b) Exhibits

     Plan of Merger dated October 21, 1998

     Articles of Merger by and among Raven Moon  Entertainment,  Inc., Ybor City
Shuttle Service,  Inc. and International  Resorts and Entertainment  Group, Inc.
dated December 18, 1998

     November 19, 1998 Press Release of International  Resorts and Entertainment
Group, Inc.

                                   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 hereunto duly authorized.

                                            RAVEN MOON INTERNATIONAL, INC.

Date:        March 29, 1999                  By: /s/ Wallace L. Strawder
                                                 -------------------------------
                                                 Wallace L. Strawder, President
ASSETS
                                     ------

Cash - Operating                                                  30,030.12
Contract Rcvble - NAmer                                        1,000,000.00
Due from Employees                                                 3,245.00
Other Receivables                                                205,132.99
                                                            ---------------
        Total Current Assets                                   1,247,408.11

Furniture & Fixtures                                               5,148.00
Accumulated Depreciation                                            (949.00)
                                                            ---------------
        Total Fixed Assets                                         4,199.00

Prepaid Expenses                                                     240.00
Diposits                                                           2,546.00
Organization Costs                                                19,539.00
Amortization-Org. Costs                                           (2,930.85)
Royalty Rights                                                    50,000.00
Production Rights                                                  3,000.00
                                                            ---------------

        Total Other Assets                                        72,394.15
                                                            ---------------

                Total Assets                                   1,324,001.26
                                                            ===============

                              LIABILITIES & EQUITY
                              --------------------

Accrued Liabilites                                               195,056.65
Accounts Payable                                                   1,226.65
Payroll Taxes Payable                                              4,455.38
Fed. Income Tax Payable                                           20,098.00
                                                            ---------------

        Total Current Liabilities                                220,836.68

Total Long Term Liabilities                                            0.00
                                                            ---------------
        Total Liabilities                                        220,836.68

Common Stock                                                     913,060.18
Additional Paid-in Capital                                       455,019.00
Retained Earnings                                               (338,488.04)
Current Earnings                                                  73,573.44
                                                            ---------------

        Total Equity                                           1,103,164.58
                                                            ---------------
                Total Liab. & Equity                           1,324,001.26
                                                            ===============
YEAR RATIO ............:                       NET REVENUE      9 MONTHS
                                                                          RATIO
================================================================================
INCOME
        Sales                                             56,921.00         4.3
        Marketing Fees                                   146,505.00        11.1
        VMT Fees Earned                                  112,300.00         8.5
        Sale of Vacation Club Rgt                      1,000,000.00        76.0
        Returns & Allowances                                (205.00)        0.0
                                                       ------------        -----
        Net Sales                                      1,315,521.00       100.0

COST OF GOODS SOLD
        Main Fees                                         38,493.04         2.9
        Consultant Fees                                  649,583.67        49.4
        Talent Expenses                                   60,094.90         4.6
        C.R. Lotto Deal                                   40,000.00         3.0
        Supplies                                          63,204.02         4.8
        Marketing Expenses                                19,600.00         1.5
        Advances Paid Out                                 13,425.00         1.0
        Printing                                           6,424.10         0.5
        Other Public Entity Exp                              870.95         0.1
        Freight                                            2,061.23         0.2
                                                       ------------        -----
        Total Cost of Goods Sold                         893,756.91        67.9
                                                       ------------        -----
        Gross Profit                                     421,764.09        32.1

EXPENSES
        Salaries                                          24,157.25         1.8
        Payroll Taxes                                     15,548.28         1.2
        Advertising                                          680.00         0.1
        Amortization                                       2,930.85         0.2
        Auto Expense                                         539.00         0.0
        Automobile Lease                                   8,116.74         0.6
        Bad Debts                                        119,886.45         9.1
        Bank Service Charges                                 530.00         0.0
        Commissions                                       35,500.00         2.7
        Computer Expense                                   9,533.12         0.7
        Contributions                                        600.00         0.0
        Depreciation                                         827.00         0.1
        Director's Fees                                    6,000.00         0.5
        Dues & Subsrcriptions                              1,143.96         0.1
        Employee Benefits                                  1,954.34         0.1
        Equipment Rent                                     8,257.80         0.6
        Insurance                                          9,613.93         0.7
        Legal Fees Expense                                   424.94         0.0
YEAR RATIO ............:                      NET REVENUE      9 MONTHS
                                                                        RATIO
================================================================================

        Licenses                                             20.00          0.0
        Mileage Reimbursement                               174.91          0.0
        Office Expense                                    6,790.29          0.5
        Paging Expense                                      249.18          0.0
        Postage                                           8,802.93          0.7
        ProfessionalFees                                 11,776.56          0.9
        Rent                                             23,272.58          1.8
        Repairs & Maintenance                             2,660.62          0.2
        Taxes - Other                                       831.40          0.1
        Telephone                                        10,852.16          0.8
        Temporary Labor                                     624.51          0.0
        Transfer AgentFees                                9,995.32          0.8
        Travel                                            5,798.53          0.4
                                                       -----------    ----------
        Total Expenses                                  328,092.65         24.9
                                                       -----------    ----------
        Net Operating Income                             93,671.44          7.1
                                                       -----------    ----------
OTHER INCOME
                                                       
        Total Other Income                                    0.00          0.0
                                                       -----------    ----------
OTHER EXPENSES
                                                       
        Total Other Expenses                                  0.00          0.0
                                                       -----------    ----------

        Income Before Taxes                              93,671.44          7.1

        Income Taxes                                     20,098.00          1.5
                                                       -----------    ----------
        Net Income                                       73,573.44          5.6
                                                       ===========    ==========

RETAINED EARNINGS (DEFICIT), JANUARY 1, 1998            ($ 338,488)

NET INCOME NINE MONTHS ENDED SEPTEMBER 30, 1998             73,573

RETAINED EARNINGS (DEFICIT), SEPTEMBER 30, 1998         ($ 264,915)
                                                        ==========
Cash Flows from Operating Activities:
  Net Income                                                        $    73,573
  Adjustments to Reconcile Net
    Income to Net Cash Provided
    by Operating Activities:
      Depreciation and Amortization                                       3,758
      (Increase) Decrease In:
        Receivables                                                   1,163,878
        Prepaid Expenses                                                    240
      Increase (Decrease) In:
        Payables                                                        198,599
                                                                    -----------

Net Cash Applied to Operating Activities                            ($  888,188)

Net Cash From Investing
  Activities:
    Stock Sales                                                     $   903,735
    Paid-in Capital                                                      34,954
                                                                        938,689
                                                                    -----------
Net Cash Applied to Investing
  Activities:
    Organization Costs                                                  (21,039)
                                                                    -----------

Net Increase in
Cash                                                                     29,462

Cash, Beginning of Year                                                   9,568
                                                                    -----------

Cash, End of Year - September 30, 1998                              $    39,030
                                                                    ===========
RAVEN MOON INTERNATIONAL, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                      NINE MONTHS ENDED SEPTEMBER 30, 1998

Note 1 - Summary of Significant Accounting Policies and Other Information:

     Nature of Business:

          Raven Moon International,  Inc. is a diversified company. It is in the
          entertainment  industry,  specifically  producing various music venues
          and television programs.  In addition,  the company is involved in the
          transportation  industry.  The  company  also  markets a hearing  aide
          device and is constantly in search of other  research and  development
          projects.

     Recent Developments:

          The Company  recently changed its name from Ybor City Shuttle Service,
          Inc. to Raven Moon International, Inc. Ybor City Shuttle Service, Inc.
          combined   with   International    Entertainment   Group,   Inc.   and
          International  resorts  &  Entertainment  Group,  inc.  prior  to  the
          corporate  name  change.  Raven Moon  International,  Inc.  intends to
          operate with four subsidiaries.

     Accounts Receivable:

          As of the statement date, there are no accounts receivables considered
          uncollectible.   Bad  debts  are   written  off  as  they  are  deemed
          uncollectible.  For the nine-month period ended September 30, 1998 the
          company has written off $119,886.45 in accounts deemed uncollectible.

     Property and Equipment:

          Property  is  carried  at  cost  and  is  reduced  by  allowances  for
          depreciation  using  accelerated  and  straight-line  methods over the
          estimated useful lives of the assets. Estimated useful lives vary from
          five to ten years.  Gains or losses on the disposition of property are
          recognized in the period in which the assets are disposed.

     Amortization of Organization Costs:

          Amortization of  organization  costs has been computed over a 60-month
          period of time.

     Taxes on Earnings:

          Taxes on earnings are based on the current Internal Revenue Code.