U. S. Securities and Exchange Commission
                             Washington, D. C. 20549

                                   FORM 10-QSB

|X|   QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
      OF 1934

      For the quarterly period ended June 30, 1999

|_|   TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
      OF 1934

      For the transition period from March 31, 1999 to June 30, 1999

                          Commission File No. 000-24379

                                 ATLANTICA, INC.
                                 ---------------
                 (Name of Small Business Issuer in its Charter)

               UTAH                                           43-0976473
-------------------------------                       --------------------------
(State or Other Jurisdiction of                       (I.R.S. Employer I.D. No.)
 incorporation or organization)

                           80 Wall Street, Suite 412
                           NEW YORK, NEW YORK. 10005
                           -------------------------
                    (Address of Principal Executive Offices)

                    Issuer's Telephone Number: (619) 251-6028

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Sections 13 or 15(d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the Registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

(1) Yes |X| No |_|            (2) Yes |X|  No |_|

                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDINGS DURING THE PRECEDING FIVE YEARS
<PAGE>

            Check whether the registrant filed all documents and reports
required to be filed by Section 12, 13 or 15(d) of the Exchange Act after the
distribution of securities under a plan confirmed by court.

            Yes |X|  No |_|

                      APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the Registrant's classes of
common stock, as of the latest practicable date:

                                  June 30, 1999

                        Common Voting Stock - 25,000,000

                         PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.

            The Financial Statements of the Registrant required to be filed with
this 10-QSB Quarterly Report were prepared by Jones, Jensen, & Company,
Certified Public Accountants, and commence on the following page, together with
Related Notes. In the opinion of management, the Financial Statements fairly
present the financial condition of the Registrant.

                     - THIS SPACE INTENTIONALLY LEFT BLANK -

Item 2. Management's Discussion and Analysis or Plan of Operation.

Plan of Operation.

            The Company has not engaged in any material operations in the last
fiscal year or the period ending June 30, 1999. The Company intends to continue
to seek out the acquisition of assets, property or business that may be
beneficial to the Company and its stockholders.
<PAGE>

Results of Operations.

            The Company discontinued its operations in approximately 1990. The
Company received no revenue in the last fiscal year or the period ending June
30, 1999. It sustained no net income or losses for either period.

                           PART II - OTHER INFORMATION

Item 1.     Legal Proceedings.

            None.

Item 2.     Changes in Securities.

            None; not applicable.

Item 3.     Defaults Upon Senior Securities.

            None; not applicable.

Item 4.     Submission of Matters to a Vote of Security Holders.

            None; not applicable.

Item 5.     Other Information.

            None; not applicable.

Item 6.     Exhibits and Reports on Form 8-K.

            (a)   Exhibits.

                  None.

            (b)   Reports on Form 8-K.

                  None.
<PAGE>

                     - THIS SPACE INTENTIONALLY LEFT BLANK -

                                   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 thereunto duly authorized.

                                    ATLANTICA, INC.


Date: July 11, 1999                 By /s/ Gregory Aurre, Jr.
                                       ---------------------------------------
                                       Gregory Aurre, Jr., Director and
                                       President
<PAGE>

                                 ATLANTICA, INC.
                         (A Development Stage Company)

                              FINANCIAL STATEMENTS

                             June 30, 1999 and 1998
<PAGE>

                                    CONTENTS
Independent Auditors' Report ................................................ 3

Balance Sheets .............................................................. 4

Statements of Operations .................................................... 5

Statements of Stockholders' Equity (Deficit) ................................ 6

Statements of Cash Flows .................................................... 7

Notes to the Financial Statements ........................................... 8
<PAGE>

                   [LETTERHEAD OF JONES, JENSEN & COMPANY LLC]

                          INDEPENDENT AUDITORS' REPORT

The Board of Directors
Atlantica, Inc.
(A Development Stage Company)
Salt Lake City, Utah

The accompanying balance sheet of Atlantica, Inc. (a development stage company)
as of June 30,1999 and the related statements of operations, stockholders'
equity and cash flows for the three months and six months ended June 30, 1999
and 1998 and from inception on January 1, 1997 through June 30, 1999 were not
audited by us and, accordingly, we do not express an opinion on them. The
accompanying balance sheet as of December 31, 1998 was audited by us and we
expressed an unqualified opinion on it in our report dated February 26, 1999.


/s/ Jones, Jensen & Company

Jones, Jensen & Company
Salt Lake City, Utah
July 7, 1999
<PAGE>

                                 ATLANTICA, INC.
                          (A Development Stage Company)
                                 Balance Sheets

                                     ASSETS

                                                       June 30,     December 31,
                                                         1999           1998
                                                     -----------    -----------
                                                     (Unaudited)
CURRENT ASSETS

  Cash                                               $        --    $        --
                                                     -----------    -----------

   Total Current Assets                                       --             --
                                                     -----------    -----------

   TOTAL ASSETS                                      $        --    $        --
                                                     ===========    ===========

                 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES

  Accounts payable                                   $     1,606    $        --
  Accrued interest                                            --        477,900
  Mortgage payable                                            --        885,000
                                                     -----------    -----------

   Total Current Liabilities                               1,606      1,362,900
                                                     -----------    -----------

   TOTAL LIABILITIES                                       1,606      1,362,900
                                                     -----------    -----------

STOCKHOLDERS' EQUITY (DEFICIT)

  Common stock: 25,000,000 shares authorized
   of $0.0001 par value, 24,581,422 shares
   issued and outstanding                                  2,458          2,458
  Additional paid-in capital                              57,363         46,760
  (Deficit) accumulated prior to January 1, 1997      (1,256,700)    (1,256,700)
  Earnings (deficit) accumulated during the
   development stage (from January 1, 1997)            1,195,273       (155,418)
                                                     -----------    -----------

   Total Stockholders' Equity (Deficit)                   (1,606)    (1,362,900)
                                                     -----------    -----------

   TOTAL LIABILITIES AND STOCKHOLDERS'
    EQUITY (DEFICIT)                                 $        --    $        --
                                                     ===========    ===========

   The accompanying notes are an integral part of these financial statements.


                                       4
<PAGE>

                                 ATLANTICA, INC.
                          (A Development Stage Company)
                            Statements of Operations
                                   (Unaudited)

<TABLE>
<CAPTION>

                                                                                               From
                                                                                           Inception of
                                                                                            Development
                                      For the Three                 For the Six              Stage on
                                       Months Ended                Months Ended             January 1,
                                         June 30,                     June 30,             1997 Through
                                -------------------------    --------------------------      June 30,
                                    1999          1998           1999           1998           1999
                                -----------   -----------    -----------    -----------    -----------
<S>                             <C>           <C>            <C>            <C>            <C>
REVENUES                        $        --   $        --    $        --    $        --    $        --

EXPENSES

  General and administrative-                       4,576          2,209          8,227         51,427
  Interest expense                       --        13,275             --         26,550        106,200
                                -----------   -----------    -----------    -----------    -----------

   Total Expenses                        --       (17,851)        (2,209)       (34,777)      (157,627)
                                -----------   -----------    -----------    -----------    -----------

EXTRAORDINARY ITEMS

  Gain on debt forgiveness               --            --      1,352,900             --      1,352,900
                                -----------   -----------    -----------    -----------    -----------

   Total Extraordinary Items-                          --      1,352,900             --      1,352,900
                                -----------   -----------    -----------    -----------    -----------

NET GAIN (LOSS)                 $        --   $   (17,851)   $ 1,350,691    $   (34,777)   $ 1,195,273
                                ===========   ===========    ===========    ===========    ===========

NET GAIN (LOSS) PER SHARE       $      0.00   $     (0.00)   $      0.05    $     (0.00)
                                ===========   ===========    ===========    ===========
</TABLE>

   The accompanying notes are an integral part of these financial statements.


                                       5
<PAGE>

                                 ATLANTICA, INC.
                          (A Development Stage Company)
                  Statements of Stockholders' Equity (Deficit)

<TABLE>
<CAPTION>
                                         Common Stock         Additional
                                  -------------------------     Paid-In      Accumulated
                                     Shares        Amount       Capital        Deficit
                                  -----------   -----------   -----------    -----------
<S>                                <C>          <C>           <C>            <C>
Inception of development stage,
 January 1, 1997                      531,422   $        53   $       (53)   $(1,256,700)

Expenses paid on the
 Company's behalf                          --            --        39,957             --

Net loss for the year ended
 December 31, 1997                         --            --            --        (93,057)
                                  -----------   -----------   -----------    -----------

Balance, December 31, 1997            531,422            53        39,904     (1,349,757)

March 1, 1998, liquidating
 dividend                                  --            --            --             --

March 13, 1998, common
 stock issued for services
 at $0.0001 per share              24,050,000         2,405            --             --

Expenses paid on the
 Company's behalf                          --            --         6,856             --

Net loss for the year ended
 December 31, 1998                         --            --            --        (62,361)
                                  -----------   -----------   -----------    -----------

Balance, December 31, 1998         24,581,422         2,458        46,760     (1,412,118)

Expenses paid on the
 Company's behalf (unaudited)              --            --        10,603             --

Net gain for the six months
 ended June 30, 1999
 (unaudited)                               --            --            --      1,350,691
                                  -----------   -----------   -----------    -----------

Balance, June 30, 1999
 (unaudited)                       24,581,422   $     2,458   $    57,363    $   (61,427)
                                  ===========   ===========   ===========    ===========
</TABLE>

   The accompanying notes are an integral part of these financial statements.


                                       6
<PAGE>

                                 ATLANTICA, INC.
                          (A Development Stage Company)
                            Statements of Cash Flows
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                                      From
                                                                                                  Inception of
                                                                                                   Development
                                              For the Three                 For the Six             Stage on
                                               Months Ended                Months Ended             January 1,
                                                  June 30,                    June 30,            1997 Through
                                        -------------------------    --------------------------      June 30,
                                           1999           1998           1999           1998           1999
                                        -----------   -----------    -----------    -----------    -----------
<S>                                     <C>           <C>            <C>            <C>            <C>
CASH FLOWS FROM
 OPERATING ACTIVITIES

  Net (loss)                            $        --   $   (17,851)   $ 1,350,691    $   (34,777)   $  (127,834)
  Adjustments to reconcile net (loss)
   to net cash used by operating
   activities:
    Common stock issued for  services            --            --             --          2,405          2,405
  Changes in operating assets and
   liabilities:
     Increase in accrued interest                --        13,275       (477,900)        26,550         79,650
     Increase in accounts payable                --         3,146          1,606          3,146          3,146
     (Decrease in mortgage payable)              --            --       (885,000)            --             --
                                        -----------   -----------    -----------    -----------    -----------

     Net Cash (Used) by
      Operating Activities                       --        (1,430)       (10,603)        (2,676)       (42,633)
                                        -----------   -----------    -----------    -----------    -----------

CASH FLOWS FROM
 INVESTING ACTIVITIES                            --            --             --             --             --
                                        -----------   -----------    -----------    -----------    -----------

CASH FLOWS FROM
 FINANCING ACTIVITIES

  Capital contributed by shareholder             --         1,430         10,603          2,676         42,633
                                        -----------   -----------    -----------    -----------    -----------

   Net Cash Provided by
    Financing Activities                         --         1,430         10,603          2,676         42,633
                                        -----------   -----------    -----------    -----------    -----------

NET INCREASE (DECREASE) IN CASH
 AND CASH EQUIVALENTS                            --            --             --             --             --

CASH AND CASH EQUIVALENTS AT
 BEGINNING OF PERIOD                             --            --             --             --             --
                                        -----------   -----------    -----------    -----------    -----------

CASH AND CASH  EQUIVALENTS AT
 END OF PERIOD                          $        --   $        --    $        --    $        --    $        --
                                        ===========   ===========    ===========    ===========    ===========

CASH PAID FOR:

  Interest                              $        --   $        --    $        --    $        --    $        --
  Taxes                                 $        --   $        --    $        --    $        --    $        --
</TABLE>

   The accompanying notes are an integral part of these financial statements.


                                       7
<PAGE>

                                 ATLANTICA, INC.
                          (A Development Stage Company)
                        Notes to the Financial Statements
                             June 30, 1999 and 1998

NOTE 1 - CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

      The accompanying consolidated financial statements have been prepared by
      the Company without audit. In the opinion of management, all adjustments
      (which include only normal recurring adjustments) necessary to present
      fairly the financial position, results of operations and cash flows at
      June 30, 1999 and for all periods presented have been made.

      Certain information and footnote disclosures normally included in
      consolidated financial statements prepared in accordance with general
      accepted accounting principles have been condensed or omitted. It is
      suggested that these condensed consolidated financial statements be read
      in conjunction with the financial statements and notes thereto included in
      the Company's December 31, 1998 audited consolidated financial statements.
      The results of operations for the periods ended June 30, are not
      necessarily indicative of the operating results for the full year.


                                       8