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SEC 1473  Potential  persons who are to respond to the collection of information
(7-97)    contained in this form are not required  to  respond  unless  the form
          displays a currently valid OMB control number.
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|Form 3 |                                                    OMB APPROVAL
---------                                                OMB Number: 3235-0104
     UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                   Washington, DC 20549               Expires: December 31, 2001

       INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF     Estimated average burden
                        SECURITIES                      hours per response...0.5

     Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
     Section 17(a) of the Public Utility Holding Company Act of 1935 or Section
      30(f) of the Investment Company Act of 1940

                                                                                 
(Print or Type Responses)
|=============================|=====================|=====================================|
|1.                           | 2.                  | 4.                                  |
|Name and Address of          | Date of Event       | Issuer Name and Tickler or Trading  |
|Reporting Person*            | Requiring Statement | Symbol                              |
|                             | (Month/Day/Year)    |                                     |
| Baxter, James N.            |               	    | Acola Corp.                    |
|-----------------------------|                     |                                     |
|(Last)     (First)   (Middle)|                     | Trading Symbol: ACAC                |
|                             | 10/16/02            |                                     |
| 39 Neck Road                |

         |                    |
|-----------------------------|=====================|=====================================|======================|
|       (Street)              | 3.                  | 5.                                  | 6. If Amendment,     |
|                             | I.R.S.Identification| Relationship of Reporting Person(s) |    Date of Original  |
|Madison, CT 06443	      | Number of Reporting |  to Issuer                          |    |
|-----------------------------| Person, if an entity| (Check all applicable)              |    (Month/Day/Year)  |
|  (City)     (State)  (Zip)  | (voluntary)         |                                     |                      |
|                             |                     |  X  Director         X  10% Owner    |                     |
|                             |                     | ---                ---              |                      |
|                             |                     |                                     |======================|
|                             |                     |  X   Officer (give      Other (speci-| 7. Individual or     |
|                             |                     | ---  title below)  ---     fy below)|    Joint/Group Filing|
|                             |                     |                                     |    (Check Applicable |
|                             |                     |                                     |     Line)            |
|                             |                     |                                     |                      |
|                             |                     |  President                          |  X  Form filed by One|
|                             |                     |                                     | --- Reporting Person |
|                             |                     |                                     |                      |
|                             |                     |                                     |     Form filed  by   |
|                             |                     |                                     | --- More than One    |
|                             |                     |                                     |     Reporting Person |
|                             |                     |                                     |                      |
|                             |                     |                                     |                      |
|================================================================================================================|
|            Table I -- Non-Derivative Securities Beneficially Owned                                             |
|========================|=====================|=====================================|===========================|
|1.                      |2.                   |3.                                   |4.                         |
|Title of Security       |Amount of Securities |Ownership Form: Direct (D) or        |Nature of Indirect         |
|(Instr. 4)              |Beneficially Owned   |Indirect (I)                         |Beneficial Ownership       |
|                        |(Instr. 4)           |(Instr. 5)                           |(Instr. 5)                 |
|                        |                     |                                     |                           |
|========================|=====================|=====================================|===========================|
|Common Stock Class A    |   7,701,318 shares  |        I                            | By Global Investment
											Alliance Inc.            |
|Common Stock Class B    |     540,000 shares  |        I                            | 	By Global Investment	 |
			                                    |                        |   Alliance Inc. |
|========================|=====================|=====================================|===========================|
|                                              |                                    | 		 |
|========================|=====================|=====================================|===========================|

                                       1



                                                             
===============================================================================================================
|        Table II -- Derivative  Securities  Beneficially  Owned (e.g., puts,                                 |
|          calls, warrants, options, convertible securities)                                                  |
|==========|================|========================|=========|==================|===========================|
|1.        |2.              |3.                      |4.       |5.                |6.                         |
|Title of  |Date Exer-      |Title and Amount of     |Conver-  |Ownership         |Nature of Indirect         |
|Derivative|cisable and     |Securities Underlying   |sion or  |                  |Beneficial Ownership       |
|Security  |Expiration      |Derivative Security     |Exercise |Form of           |(Instr. 5)                 |
|(Instr. 4)|Date            |(Instr. 4)              |Price of |Derivative        |                           |
|          |(Month/Day/Year)|                        |Deri-    |Securities:       |                           |
|          |                |                        |vative   |                  |                           |
|   N/A    |                |                        |Security |Direct (D)        |                           |
|          |                |                        |         |or                |                           |
|          |                |                        |         |Indirect (I)      |                           |
|          |                |                        |         |                  |                           |
|          |                |                        |         |(Instr. 5)        |                           |
|          |                |                        |         |                  |                           |
|==========|=======|========|===============|========|         |                  |                           |
|          |Date   |Expira- |   Title       |Amont   |         |                  |                           |
|          |Exer-  |tion    |               |or      |         |                  |                           |
|          |cisable|Date    |               |Number  |         |                  |                           |
|          |       |        |               |of      |         |                  |                           |
|          |       |        |               |Shares  |         |                  |                           |
|==========|=======|========|===============|========|=========|==================|===========================|
|          |       |        |               |        |         |                  |                           |
|==========|=======|========|===============|========|=========|==================|===========================|
|          |       |        |               |        |         |                  |                           |
|==========|=======|========|===============|========|=========|==================|===========================|
|          |       |        |               |        |         |                  |                           |
|==========|=======|========|===============|========|=========|==================|===========================|
|          |       |        |               |        |         |                  |                           |
|==========|=======|========|===============|========|=========|==================|===========================|
|          |       |        |               |        |         |                  |                           |
|==========|=======|========|===============|========|=========|==================|===========================|

Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.

Explanation of Responses:




                      /s/ James N. Baxter                  	October 28, 2002
                      ---------------------------------------  -----------------
                      Signature of Reporting Person            Date
                      James N. Baxter


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