SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                  SCHEDULE 13D
                    UNDER THE SECURITIES EXCHANGE ACT OF 1934

                              IGUANA VENTURES LTD.
                                (NAME OF ISSUER)

                    COMMON STOCK, PAR VALUE $0.001 PER SHARE
                         (TITLE OF CLASS OF SECURITIES)


                                   45172W 10 6
                                 (CUSIP NUMBER)

                         DAVID M. LOEV, ATTORNEY AT LAW
                               2777 ALLEN PARKWAY
                                   SUITE 1000
                              HOUSTON, TEXAS 77019
                                 (713) 524-4110
                  (NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON
                AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)

                                  May 27, 2004
             (DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)

IF  THE FILING PERSON HAS PREVIOUSLY FILED A STATEMENT ON SCHEDULE 13G TO REPORT
THE  ACQUISITION  WHICH  IS THE SUBJECT OF THIS SCHEDULE 13D, AND IS FILING THIS
SCHEDULE  BECAUSE  OF  RULE 13D-1(B)(3) OR (4), CHECK THE FOLLOWING BOX.     [ ]


The information required in the remainder of this cover page shall not be deemed
to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934
 ("Act") or otherwise subject to the liabilities of that section of the Act but
              shall be subject to all other provisions of the Act.







|1|     NAMES  OF  REPORTING  PERSONS
        S.S.  OR  I.R.S.  IDENTIFICATION  NO.  OF  ABOVE  PERSON

        Michael  Young
- -------------------------------------------------------------------------------
|2|     CHECK  THE APPROPRIATE BOX IF A MEMBER OF A GROUP *          (a)[ ]
                                                                     (b)[ ]
- -------------------------------------------------------------------------------
|3|     SEC  USE  ONLY
- -------------------------------------------------------------------------------
|4|     SOURCE  OF  FUNDS*
        N/A
- -------------------------------------------------------------------------------
|5|     CHECK  BOX  IF  DISCLOSURE  OF  LEGAL  PROCEEDINGS  IS
        REQUIRED  PURSUANT  TO  ITEMS  2(d)  or  2(e)                    [ ]
- -------------------------------------------------------------------------------
|6|     CITIZENSHIP  OR  PLACE  OF  ORGANIZATION
        Canada
- -------------------------------------------------------------------------------
                   |7|     SOLE  VOTING  POWER
NUMBER  OF                 None
SHARES
BENEFICIALLY       |8|     SHARED  VOTING  POWER
OWNED  BY  EACH            N/A
REPORTING
PERSON  WITH       |9|     SOLE  DISPOSITIVE  POWER
                           None
- -------------------------------------------------------------------------------
|10|    SHARED  DISPOSITIVE  POWER
               N/A
- -------------------------------------------------------------------------------
|11|    AGGREGATE  AMOUNT  BENEFICIALLY  OWNED  BY  EACH  REPORTING  PERSON
               None
- -------------------------------------------------------------------------------
|12|    CHECK  BOX  IF  THE  AGGREGATE  AMOUNT IN ROW (11) EXCLUDES CERTAIN
        SHARES  *          N/A
- -------------------------------------------------------------------------------
|13|    PERCENT  OF  CLASS  REPRESENTED  BY  AMOUNT  IN  ROW  (11)
               0%
- -------------------------------------------------------------------------------
|14|    TYPE  OF  REPORTING  PERSON  *
               IN
- -------------------------------------------------------------------------------

ITEM  1.  Security  and  Issuer

This  Statement  on  Schedule 13D relates to the Common Stock of Iguana Ventures
Ltd.  The principal executive offices of Iguana Ventures Ltd. are located at 156
5th  Avenue,  10th  Floor,  Suite  1034,  New  York,  New  York  10010.



ITEM  2.  Identity  and  Background

(a)-(c)  This  Statement  on  Schedule 13D is being filed by Michael Young.  Mr.
Young's  business  address  is  1020-400  Burrard  Street,  Vancouver,  British
Columbia,  V6C  3A6,  Canada.  Mr.  Young  was  the  former  President and Chief
Executive  Officer  and  a former Director of Iguana Ventures Ltd.  Mr. Young is
currently  a  self  employed  Financial  Planner.

(d)-(e)  During  the last five years, Mr. Young: (i) has not been convicted in a
criminal  proceeding  (excluding traffic violations or similar misdemeanors); or
(ii)  was not a party to a civil proceeding of a judicial or administrative body
of  competent  jurisdiction and as a result of such proceeding was or is subject
to  a  judgment,  decree  or  final  order  enjoining  future  violations of, or
prohibiting or mandating activities subject to, federal or state securities laws
or  finding  any  violation  with  respect  to  such  laws.

(f)  Mr.  Young  is  a  citizen  of  Canada.

ITEM  3.  Source  of  Amount  of  Funds  or  Other  Compensation

N/A

ITEM  4.  Purpose  of  Transaction

N/A

ITEM  5.  Interest  in  Securities  of  the  Issuer

(a)     None.

(b)     None.

(c)     Mr.  Young  sold  6,000,000  shares  to  James  Lee  pursuant to a Stock
Purchase Agreement dated May 27, 2004, which has been filed as an exhibit to the
Statement on Schedule 13D filed by James Lee on June 10, 2004.  Mr. Lee acquired
the shares of Common Stock from Michael Young for $20,000 (or $.0033 per share).

(d)     None.

(e)     Mr.  Young  ceased  to  be  the  beneficial owner of more than 5% of the
Common  Stock  of  Iguana  Ventures  Ltd.  on  May  27,  2004.

ITEM  6. Contracts, Arrangements, Understanding or Relationships with Respect to
Securities  of  the  Issuer

None

ITEM  7.  Material  to  be  Filed  as  Exhibits

     Exhibit 1(1)     Stock Purchase Agreement dated May 27, 2004, between James
                      Lee  and  Michael  Young.

(1)  Filed  as an exhibit to the statement on Schedule 13D filed by James Lee on
June  10,  2004.



                                    SIGNATURE


     After  reasonable  inquiry  and  to  the best of my knowledge and belief, I
certify  that  the information set forth in this statement is true, complete and
correct.

Dated:  June  10,  2004                    By:  /s/Michael  Young
                                              -------------------
                                              Michael  Young