YMG Ventures Inc. announced a net loss of $48,987 for the quarter ended March 31, compared to net income of $85,733 for the comparable quarter of 2001.

In the first quarter of 2002, a number of investments were sold or deemed to be disposed resulting in realized capital losses of $1,805,513. The losses were offset by the reversal of unrealized losses of $1,817,414 recorded in 2001 on the write down of these investments.

The corporation will be receiving $69,000 in the second quarter of 2002 for a loan made to an investee company and a recovery of loss of $4,000 was recorded. Expenses for the quarter ended March 31, 2002 were $53,550.

All operating expenses for the first quarter of 2001 were paid by the parent company, YMG Capital Management Inc.