YMG Ventures Inc. announced a net loss of $161,480 for the quarter ended December 31, compared to a net loss of $1,661,250 for the same quarter of 2000.

The net loss for the year was $4,648,123 compared to net income of $1,017,663 in 2000. Unrealized losses of $149,412 were recorded in the quarter, compared with unrealized losses of $2,034,752 for the same quarter of 2000. Unrealized losses of $5,501,609 were recorded in the year 2001 compared with unrealized gains of $1,275,145 in 2000.

The unrealized loss in 2001 is primarily due to the write-down of investments in BayStreetDirect.com Inc., Opus 2 Financial and StreetViews.com Inc. The total write-down for these three investments in 2001 was $5,086,000. As at December 31, 2000, it recorded unrealized gains of $1,933,000 on these three investments.

On June 1, 2001, the corporation began to pay operating expenses previously paid for by YMG Capital Management Inc. Expenses in 2001 include a provision for loss against investee loans of $50,000. In the fourth quarter of 2000, a provision for loss of $25,000 was recorded against an investee loan. The corporation will be receiving $69,000 in the second quarter of 2002 for its loan to Opus2.