SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   Form 10-QSB

      X    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
      AND EXCHANGE ACT OF 1934

               For the quarterly period ended September 30, 1999

      _    TRANSITION  REPORT UNDER SECTION 13 OR 15(d) OF THE  SECURITIES  ACT
      OF 1934
                        For the transition period from to
                        Commission File Number 000-24541

                          CORGENIX MEDICAL CORPORATION
                 (Name of Small Business Issuer in its Charter)

              Nevada                           93-1223466
  (State or other jurisdiction of    (I.R.S. Employer Identification
  incorporation or organization)                  No.)


                12061 Tejon Street, Westminster, Colorado 80234

         (Address of principal executive offices, including zip code)

                                (303) 457-4345

               (Issuer's telephone number, including area code)

      (Former  name,  former  address and former  fiscal year, if changed since
      last report)

Check whether the issuer:  (1) filed all reports required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 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. Yes X No ___

The number of shares of Common Stock  outstanding  was 17,320,164 as of November
15, 1999.

Transitional Small Business Disclosure Format.     Yes _     No X_

<PAGE>





                          CORGENIX MEDICAL CORPORATION


                               September 30, 1999





                                TABLE OF CONTENTS


                                                                        Page


                                     Part I


                              Financial Information


      Item 1.   Financial Statements                                      3


      Item 2.   Management's  Discussion  and Analysis of
                Financial  Condition and Results of Operations            7





                                     Part II


                                Other Information


      Item 1.   Legal Proceedings                                        15


      Item 2.   Changes in Securities and Use of Proceeds                15


      Item 3.   Defaults Upon Senior Securities                          15


      Item 4.   Submission of Matters to a Vote of Security Holders      15


      Item 5.   Other Information                                        15


      Item 6.   Exhibits and Reports on Form 8-K                         15




<PAGE>





                          CORGENIX MEDICAL CORPORATION
                                AND SUBSIDIARIES
Consolidated Balance Sheets

-------------------------------------------------------------------------------


                                         September 30, 1999        June 30, 1999
                                            (Unaudited)
Assets

Current assets:
  Cash and cash equivalents             $        107                   15,963
  Accounts receivable, less allowance for
   doubtful accounts of $7,000               530,205                  516,182
  Note receivable
                                              27,425                   27,425
  Inventories                                512,465                  518,215
  Prepaid expenses                             1,161                      954
      Total current assets                 1,071,363                1,078,739
Equipment:
  Machinery and laboratory equipment         302,949                  302,949
  Furniture, fixtures and office equipment   255,695                  255,695
                                             558,644                  558,644
Accumulated depreciation and
amortization                                (413,234)                (399,109)
      Net equipment                          145,410                  159,535

Intangible assets:
  Patents, net of accumulated
   amortization of $664,912 and $646,987,
   respectively                              452,632                  470,557
  Goodwill, net of accumulated
   amortization of $33,611 and $36,177,
   respectively                               25,045                   25,411
                                             477,677                  495,968

Due from officer                              12,000                   12,000
Other assets                                  14,285                   14,285
      Total assets                       $ 1,720,735                1,760,527


Liabilities and Stockholders' Equity (Deficit)
Current liabilities:
  Current portion of notes payable       $   270,534                  296,954
  Accounts payable                           769,098                  795,262
  Accrued payroll and related liabilities    109,629                  114,061
  Other liabilities                          101,546                  105,528
  Current portion capital lease obligation     3,910                    3,483
  Employee stock purchase plan payable         2,976                    2,984
      Total current liabilities            1,257,693                1,318,272

Notes payable, excluding current portion     768,060                  790,959
Capital lease obligation, excluding
 current portion                               6,423                    7,703

      Total liabilities                   2,032,1776                2,116,934

Stockholders' equity (deficit):
  Preferred stock, $0.001 par value.
   Authorized 5,000,000 shares,
   none issued or outstanding                  --                       --
  Common stock, $0.001 par value.
   Authorized 20,000,000 shares; issued
   and outstanding 16,867,163 in September
   and 16,852,116 in June                     16,867                   16,852
  Additional paid-in capital               3,863,373                3,859,806
Accumulated deficit                       (4,191,681)              (4,233,065)
      Total stockholders' equity (deficit)  (311,441)                (356,407)

Total liabilities and stockholders'
 equity (deficit)                        $ 1,720,735                1,760,527

See accompanying notes to consolidated financial statements.


<PAGE>



                          CORGENIX MEDICAL CORPORATION
                                AND SUBSIDIARIES

Consolidated Statements of Operations

-------------------------------------------------------------------------------

                                    Three Months Ended
                             September 30,      September 30,
                                 1999               1998
                           --------------------------------------
                             (Unaudited)         (Unaudited)



Net Sales                      $805,870           $548,848
Cost of Sales                   304,666            282,677
                           --------------------------------

          Gross profit          501,204            266,171

Operating expenses:
  Selling and marketing         151,686            193,278
  Research and development       99,165             97,715
  General and                   181,110            278,281
administrative
                           --------------------------------
  Total Expense                 431,961            569,274

          Operating              69,243          (303,103)
profit (loss)


Interest expense, net            27,859             24,321
                           --------------------------------



          Net income           $ 41,384         $(327,424)
(loss)


Net income (loss) per          $   0.00           $ (0.03)
share basic and
diluted

Weighted average shares      16,866,345         12,156,591
outstanding basic and
diluted


See accompanying notes to consolidated financial statements.



<PAGE>


                          CORGENIX MEDICAL CORPORATION
                                AND SUBSIDIARIES



Consolidated Statements of Cash Flows
-------------------------------------------------------------------------------

                                                     Three Months Ended
                                               September 30,    September 30,
                                                    1999           1998
                                                   ---------------------
                                                       (Unaudited)


Cash flows from operating activities:
  Net income (loss)                            $  41,384         $ (327,424)
  Adjustments to reconcile
   net income (loss) to net
   cash used by operating
   activities
    Depreciation and amortization                 32,416             37,665

    Changes in operating assets and liabilities:
            Accounts receivable                  (14,023)            54,622
            Inventories                            5,750            (11,634)
            Prepaid expenses and other assets       (207)           (12,817)
            Accounts payable                     (26,164)           171,039
            Accrued payroll and
            related liabilities                   (4,432)            10,065
            Other liabilities                     (3,982)           (67,582)
            Employee stock purchase plan payable      (8)              -
                                                  ------------------------------

            Net cash used by operating activities 30,734           (146,066)



Cash flows provided by (used
by) investing
activities -  purchase of equipment                  -              (17,371)


Cash flows from financing activities:
  Payments on notes payable                     (49,319)            (20,923)
  Payments on leases payable                       (853)               -
  Cash receipts on stock subscription                -               24,674
  Cash receipts from Employee
  stock purchase plan                             3,582                -
                                               ---------------------------------

        Net cash provided by (used by)
        financing activities                   (46,590)               3,751
                                               --------------------------------

        Net ecrease in cash and cash
        equivalents                            (15,856)            (159,686)

Cash and cash equivalents at
beginning of period                          $  15,963          $   216,314

                                               ---------------------------------

Cash and cash equivalents at
end of period                                $     107          $    56,628
                                               ---------------------------------

Supplemental disclosure -
cash paid for interest                       $  27,859          $    25,476



See accompanying notes to consolidated financial statements.



<PAGE>




                 CORGENIX MEDICAL CORPORATION AND SUBSIDIARIES
                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


1.    DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION

Corgenix Medical  Corporation  (Corgenix or the Company) develops,  manufactures
and markets diagnostic  products for the serologic diagnosis of certain vascular
diseases and autoimmune  disorders  using  proprietary  technology.  The Company
markets its  products to  hospitals  and  free-standing  laboratories  worldwide
through a network of sales  representatives,  distributors,  and  private  label
(OEM) agreements.  The Company's offices and manufacturing  facility are located
in Westminster, Colorado.

The consolidated  financial  statements include the accounts of the Company and
its  wholly-owned  subsidiaries,  Corgenix,  Inc. (U.S.) and Corgenix (UK) Ltd.
Corgenix  (UK) was  established  as a United  Kingdom  company  during  1996 to
market the Company's products in Europe.

The accompanying  consolidated financial statements have been prepared,  without
audit,  pursuant to the rules and  regulations  of the  Securities  and Exchange
Commission.  Certain information and footnote  disclosures  normally included in
financial  statements  prepared in accordance with generally accepted accounting
principles   have  been  condensed  or  omitted   pursuant  to  such  rules  and
regulations.  Although the Company believes that the disclosures are adequate to
make the  information  presented  not  misleading,  it is  suggested  that these
consolidated  financial  statements  be read in  connection  with the  financial
statements  and notes thereto  included in the  Company's  annual report on Form
10-KSB for the year ended June 30, 1999.

In  the  opinion  of  the  Company,  the  accompanying   consolidated  financial
statements include all adjustments  (consisting of normal recurring accruals and
adjustments)  required to present  fairly the  Company's  financial  position at
September 30, 1999 and June 30, 1999 and the results of its  operations for each
of the three month periods ended September 30, 1999 and 1998, and the cash flows
for each of the three month periods then ended.

The  operating  results for the three  months ended  September  30, 1999 are not
necessarily  indicative  of the results  that may be expected for the year ended
June 30, 2000.

2.    INCOME (LOSS) PER SHARE

Basic and diluted  income  (loss) per share is  presented  based on the weighted
average number of common shares outstanding during the period.

3.    INCOME TAXES

The Company  recognized net income in the three months ended  September 30, 1999
and a loss in the three  months  ended  September  30,  1998.  The  Company  has
historically incurred losses, and accordingly no tax benefit is recognized as it
is more likely than not that tax losses will result in a benefit to the Company.



<PAGE>


                          CORGENIX MEDICAL CORPORATION



                     Management's Discussion and Analysis Of

                 Financial Condition and Results of Operations



      The following  discussion should be read in conjunction with the financial
statements and accompanying notes included elsewhere herein.


      General


      Since the Company's inception, Corgenix has been primarily involved in the
research, development,  manufacturing and marketing of diagnostic tests for sale
to  clinical  laboratories.  Corgenix  currently  markets 23  products  covering
autoimmune  disorders,  vascular  diseases,  bone and joint  diseases  and liver
disease. Corgenix's products are sold in the United States through the Company's
marketing and sales  organization  that includes  direct sales  representatives,
internationally  through  an  extensive  distributor  network,  and  to  several
significant OEM partners.


      Corgenix  manufactures  products for inventory  based upon expected  sales
demand,  shipping  products to customers,  usually within 24 hours of receipt of
orders. Accordingly, Corgenix does not operate with a backlog.


      Except  for the  fiscal  year  ending  June  30,  1997,  the  Company  has
experienced revenue growth since its inception, primarily from sales of products
and contract  revenues from strategic  partners.  Contract  revenues  consist of
licensing  fees,  milestone  payments,  and royalty  payments  from research and
development agreements with strategic partners.


      Beginning in fiscal year 1996,  Corgenix  added  third-party  OEM licensed
products to its diagnostic  product line. The Company currently markets products
through OEM licenses  from third party  manufacturers  and expects to expand its
relationship  with other  companies  in the future to gain access to  additional
products.


      Although Corgenix has experienced growth in revenues every year since 1990
except for 1997,  there can be no assurance  that, in the future,  Corgenix will
sustain revenue growth or achieve consistent  profitability.  Corgenix's results
of operations may fluctuate significantly from period-to-period as the result of
several factors,  including:  (i) whether and when new products are successfully
developed  and  introduced,  (ii) market  acceptance of current or new products,
(iii)  seasonal  customer  demand,  (iv) whether and when Corgenix  receives R&D
milestone  payments and license  fees from  strategic  partners,  (v) changes in
reimbursement  policies for the products that Corgenix sells,  (vi)  competitive
pressures on average  selling prices for the products that Corgenix  sells,  and
(vii) changes in the mix of products that Corgenix sells.


      Results of Operations


      Three Months Ended September 30, 1999 and 1998


      Net Sales.  Net sales for the three months ended  September  30, 1999 were
$806,000,  a 46.8%  increase  from  $549,000 in 1998.  A component of net sales,
gross product sales,  increased 45.5% to $803,000 in 1999 from $552,000 in 1998,
because of  expansion  of the  Company's  customer  base in the  United  States,
enlargement of the international  distribution network, and the worldwide market
launch of several new products.


      Cost of sales. Cost of sales in dollars increased to $305,000 in 1999 from
$283,000 in 1998. As a percentage of sales,  cost of sales decreased to 37.8% in
1999  from  51.5%  in  1998  mainly   reflective   of  increased   manufacturing
efficiencies  and product mix. The gross profit  increased  88.3% to $501,000 in
1999 from $266,000 in 1998.


      Selling and marketing.  Selling and marketing  expenses decreased 21.2% to
$152,000 in 1999 from $193,000 in 1998,  primarily due to a restructuring of the
sales  commission  program  in the U.S.,  and a  reduction  in  advertising  and
promotional  expenditures  from 1998 to 1999. As a percentage of sales,  selling
and marketing expenses decreased to 18.9% in 1999 from 35.2% in 1998.


      Research and development.  Research and development  expenses increased to
$99,000 in 1999 from $98,000 in 1998. No  additional  projects were added to the
ongoing development program during the first quarter


      General and administrative.  General and administrative expenses decreased
34.5% to $182,000 in 1999 from  $278,000 in 1998,  due in part to a reduction in
legal,  accounting and related costs  incurred when the Company became  publicly
traded in 1998.


      Net profit  (loss).  Net profit for the first quarter in 1999 was $41,000,
compared to a net loss of $327,000 in 1998.


      Liquidity and Capital Resources


      Since inception,  Corgenix has financed its operations  primarily  through
private  placements  of common and  preferred  stock,  raising  net  proceeds of
approximately  $3.9  million from sales of these  securities.  Corgenix has also
received  financing  for  operations  from  sales  of  diagnostic  products  and
agreements with strategic  partners.  Through  September 30, 1999,  Corgenix has
invested $145,000, (net of accumulated  depreciation) in leasehold improvements,
laboratory  and  computer  equipment  and office  furnishings  and  equipment to
support its development and administrative activities.


      At  September  30, 1999,  the Company had cash of $107, a working  capital
deficit  of  $186,330,  and short and  long-term  notes and  leases  payable  of
$1,048,927,  with $274,444 due in the following  twelve months and the remainder
due at varying dates through February 2006.


      Management  expects  that  cash  flows  from  current  operations  will be
sufficient  to  fund  such  operations  at  current   levels.   The  Company  is
aggressively  pursuing  financing  alternatives to provide funds for its current
operations  and its growth  plans,  which  financing  alternatives  may  involve
accessing the public equity or debt markets.  There can be no assurance that the
Company will be able to obtain sufficient capital from such financings to offset
its working capital deficits or to pursue its expansion plans

      Year 2000 Effect


           The Year 2000 will impact computer  programs written using two digits
rather than four to define the applicable year. Any programs with time-sensitive
software  may  recognize a date using "00" as the year 1900 rather than the year
2000.  This  could  result  in  a  system  failure  or  miscalculations  causing
disruptions   of   operation,   including  a  temporary   inability  to  process
transactions, send invoices or engage in other ordinary activities. This problem
largely affects  software  programs  written years ago, before the issue came to
prominence.  Corgenix recently reviewed all of its software for exposure to Year
2000 issues,  including network and workstation  software,  and does not believe
that  such  software  poses  significant  risks  associated  with the Year  2000
problem.  Corgenix  primarily uses  third-party  software  programs  written and
updated by outside firms, each of whom has stated that its software is Year 2000
compliant.  To  assure  that all  software  programs  can  successfully  work in
conjunction with each other using the Company's computer hardware after the year
1999,  Corgenix tested all of its software and hardware during the third quarter
of 1998 using a combination of past and future dates. Such testing revealed that
some of the Company's  computer hardware could not correctly process dates after
December 31, 1999.
The Company has updated or replacd all such equipment.

      The Company has received written assurance that all suppliers of materials
considered critical are Year 2000 compliant.

      The  Company has also begun the process of  obtaining  written  assurances
from the Company's material customers  regarding their Year 2000 compliance.  In
addition,  the Company  has  instituted  a  requirement  that all new  customers
placing  standing orders of the Company's  products must certify in writing that
they are Year 2000 compliant or provide written  assurances as to the steps they
are taking to become  Year 2000  compliant.  The Company  has  received  written
notification  from customers  representing  greater than 90% of Company revenues
that such  customers  are Year 2000  compliant or that they are will become Year
2000 compliant before December 31, 1999.

      Although the Company has taken  significant steps to address the Year 2000
problem,  there can be no assurance  that the failure of the Company  and/or its
material  customers or suppliers to timely attain Year 2000  compliance will not
materially  reduce the  Company's  revenues  or income,  or that these  failures
and/or the impacts of broader  compliance  failures  by  telephone,  mail,  data
transfer or other utility or general service  providers or government or private
entities will not have a material adverse effect on the Company.

      Forward-Looking Statements and Risk Factors

      This 10-QSB  includes  statements  that are not purely  historical and are
"forward-looking statements" within the meaning of Section 27A of the Securities
Act  of  1934,  as  amended,   including   statements  regarding  the  Company's
expectations,  beliefs,  intentions  or  strategies  regarding  the future.  All
statements  other than  historical  fact  contained in this  10-QSB,  including,
without   limitation,   statements   regarding   future  product   developments,
acquisition  strategies,   strategic  partnership  expectations,   technological
developments, the availability of necessary components, research and development
programs  and  distribution   plans,   are   forward-looking   statements.   All
forward-looking  statements  included  in this  10-QSB are based on  information
available  to the  Company  on the  date  hereof,  and the  Company  assumes  no
obligation  to update  such  forward-looking  statements.  Although  the Company
believes that the assumptions and expectations reflected in such forward-looking
statements are reasonable,  it can give no assurance that such expectations will
prove to have been  correct or that the Company  will take any actions  that may
presently be planned.

      Certain factors that could cause actual results to differ  materially from
those expected include the following:

      Losses Incurred; Future Capital Needs; Uncertainty of Additional Funding



<PAGE>


      The Company has  incurred  operating  losses and  negative  cash flow from
operations for the last three fiscal years. Losses incurred by the Company since
its inception have aggregated  over $4.1 million,  and there can be no assurance
that  the  Company  will be able to  generate  positive  cash  flows to fund its
operations  in the  near  future.  Assuming  no  significant  uses  of  cash  in
acquisition  activities or other  significant  changes,  the Company believes it
will have  sufficient  cash to satisfy its  funding  needs for at least the next
year.  If the Company is not able to operate  profitably  and generate  positive
cash  flows,  however,  it may  need to  raise  additional  capital  to fund its
continuing  operations.  If the Company needs  additional  financing to meet its
requirements,  there can be no  assurance  that it will be able to  obtain  such
financing on terms satisfactory to it, if at all. Alternatively,  any additional
equity financing may be dilutive to existing  stockholders,  and debt financing,
if  available,  may include  restrictive  covenants.  If adequate  funds are not
available,  the Company might be required to limit its research and  development
activities or its selling and marketing activities, either of which could have a
material adverse effect on the future of the Company's business.





      Dependence on Collaborative  Relationships  and Third Parties for Product
      Development and Commercialization

      The Company has  historically  entered  into  licensing  and  research and
development  agreements  with  collaborative  partners,  from which it derived a
significant  percentage  of its  revenues  in  past  years.  Pursuant  to  these
agreements,  the Company's collaborative partners have specific responsibilities
for the costs of development,  promotion, regulatory approval and/or sale of the
Company's  products.  The Company will continue to rely on future  collaborative
partners  for the  development  of products  and  technologies.  There can be no
assurance  that  the  Company  will  be  able to  negotiate  such  collaborative
arrangements  on  acceptable  terms,  if at  all,  or  that  current  or  future
collaborative arrangements will be successful. To the extent that the Company is
not able to establish such arrangements,  it could experience  increased capital
requirements or be forced to undertake such  activities at its own expense.  The
amount  and  timing of  resources  that any of these  partners  devotes to these
activities  will  generally  be based on  progress by the Company in its product
development efforts.  Usually,  collaborative  arrangements may be terminated by
the partner upon prior notice  without cause and there can be no assurance  that
any of these partners will perform its  contractual  obligations or that it will
not terminate its agreement.  With respect to any products manufactured by third
parties,  there  can be no  assurance  that any  third-party  manufacturer  will
perform  acceptably or that  failures by third  parties will not delay  clinical
trials or the  submission  of  products  for  regulatory  approval or impair the
Company's ability to deliver products on a timely basis.

      No Assurance of Successful or Timely Development of Additional Products

      The Company's  business  strategy  includes the  development of additional
diagnostic  products.  The  Company's  success in  developing  new products will
depend on its ability to achieve  scientific and  technological  advances and to
translate  these  advances into  commercially  competitive  products on a timely
basis.  Development of new products requires significant  research,  development
and testing  efforts.  The Company will have limited  resources to devote to the
development  of products and,  consequently,  a delay in the  development of one
product or the use of  resources  for  product  development  efforts  that prove
unsuccessful  may delay or jeopardize  the  development of other  products.  Any
delay in the  development,  introduction  and marketing of future products could
result in such products being marketed at a time when their cost and performance
characteristics would not enable them to compete effectively in their respective
markets.  If the  Company is unable,  for  technological  or other  reasons,  to
complete  the  development  and  introduction  of any new  product or if any new
product  is not  approved  or  cleared  for  marketing  or does  not  achieve  a
significant level of market acceptance, the Company's results of operation could
be materially and adversely affected.

      Competition in the Diagnostics Industry

      Competition in the human medical diagnostics  industry is, and is expected
to remain,  significant.  The Company's competitors range from development stage
diagnostics  companies  to  major  domestic  and  international   pharmaceutical
companies. Many of these companies have financial,  technical, marketing, sales,
manufacturing, distribution and other resources significantly greater than those
of the Company.  In addition,  many of these  companies  have name  recognition,
established  positions  in the  market  and  long  standing  relationships  with
customers and  distributors.  Moreover,  the  diagnostics  industry has recently
experienced a period of  consolidation,  during which many of the large domestic
and  international   pharmaceutical  companies  have  been  acquiring  mid-sized
diagnostics companies,  further increasing the concentration of resources. There
can be no  assurance  that  technologies  will not be  introduced  that could be
directly competitive with or superior to the Company's technologies.



<PAGE>





      Governmental Regulation of Diagnostics Products

      The testing,  manufacture and sale of the Company's products is subject to
regulation by numerous governmental authorities, principally the FDA and certain
foreign  regulatory  agencies.  Pursuant to the Federal Food, Drug, and Cosmetic
Act,  and  the  regulations  promulgated  thereunder,   the  FDA  regulates  the
preclinical  and  clinical  testing,  manufacture,  labeling,  distribution  and
promotion of medical devices. The Company will not be able to commence marketing
or commercial sales in the United States of new products under development until
it  receives  clearance  from the  FDA.  The  testing  for,  preparation  of and
subsequent FDA regulatory review of required filings can be a lengthy, expensive
and uncertain process. Noncompliance with applicable requirements can result in,
among other consequences, fines, injunctions, civil penalties, recall or seizure
of products,  repair,  replacement  or refund of the cost of products,  total or
partial  suspension of production,  failure of the government to grant premarket
clearance or premarket approval for devices,  withdrawal of marketing clearances
or approvals, and criminal prosecution.

      There  can be no  assurance  that  the  Company  will be  able  to  obtain
necessary regulatory approvals or clearances for its products on a timely basis,
if at all,  and delays in receipt of or  failure to receive  such  approvals  or
clearances, the loss of previously received approvals or clearances, limitations
on intended  use imposed as a  condition  of such  approvals  or  clearances  or
failure to comply with existing or future regulatory  requirements  could have a
material adverse effect on the Company's business.

      Dependence on Distribution  Partners for Sales of Diagnostic  Products in
      International Markets

      The Company has entered into  distribution  agreements with  collaborative
partners in which Corgenix has granted  distribution rights for certain Corgenix
products to these  partners  within  specific  international  geographic  areas.
Pursuant to these agreements,  the Company's collaborative partners have certain
responsibilities for market development,  promotion,  and sales of the products.
If any of these  partners  fails  to  perform  its  contractual  obligations  or
terminates  its  agreement,  this could have a  material  adverse  effect on the
Company's business, financial condition and results of operation.

      Governmental Regulation of Manufacturing and Other Activities

      As a manufacturer  of medical  devices for marketing in the United States,
the  Company is  required  to adhere to  applicable  regulations  setting  forth
detailed  good  manufacturing  practice  requirements,  which  include  testing,
control  and  documentation  requirements.  The  Company  must also  comply with
Medical  Device Report ("MDR")  requirements,  which require that a manufacturer
report  to the FDA any  incident  in  which  its  product  may  have  caused  or
contributed to a death or serious injury, or in which its product  malfunctioned
and, if the malfunction were to recur, it would be likely to cause or contribute
to a death or serious injury.  The Company is also subject to routine inspection
by the FDA for compliance  with QSR  requirements,  MDR  requirements  and other
applicable  regulations.  The FDA has recently implemented new QSR requirements,
including the addition of design  controls that will likely increase the cost of
compliance.  Labeling and promotional  activities are subject to scrutiny by the
FDA and, in certain circumstances,  by the Federal Trade Commission. The Company
may incur  significant  costs to comply with laws and regulations in the future,
which may have a material adverse effect upon the Company's business,  financial
condition and results of operations.

      Regulation Related to Foreign Markets

      Distribution of diagnostic  products  outside the United States is subject
to  extensive   government   regulation.   These   regulations,   including  the
requirements  for  approvals  or  clearance  to market,  the time  required  for
regulatory review and the sanctions imposed for violations, vary from country to
country.  The Company may be required to incur significant costs in obtaining or
maintaining its foreign  regulatory  approvals.  In addition,  the export by the
Company of certain of its  products  that have not yet been cleared for domestic
commercial  distribution may be subject to FDA export  restrictions.  Failure to
obtain   necessary   regulatory  or  the  failure  to  comply  with   regulatory
requirements  could have a material  adverse  effect on the Company's  business,
financial condition and results of operations.



      Uncertain  Availability  of  Third  Party  Reimbursement  for  Diagnostic
      Products

      In the United  States,  health care  providers  that  purchase  diagnostic
products,  such as  hospitals  and  physicians,  generally  rely on third  party
payors,  principally private health insurance plans,  federal Medicare and state
Medicaid,  to reimburse  all or part of the cost of the  procedure.  Third party
payors are  increasingly  scrutinizing  and  challenging  the prices charged for
medical  products  and  services and they can affect the pricing or the relative
attractiveness  of the Decreases in  reimbursement  amounts for tests  performed
using the Company's diagnostic  products,  failure by physicians and other users
to obtain  reimbursement  from third party payors,  or changes in government and
private third party payors' policies regarding  reimbursement of tests utilizing
diagnostic  products,  may affect the Company's  ability to sell its  diagnostic
products   profitably.   Market   acceptance  of  the   Company's   products  in
international  markets is also  dependent,  in part,  upon the  availability  of
reimbursement within prevailing health care payment systems.

      Uncertainty of Protection of Patents, Trade Secrets and Trademarks

      The Company's  success depends,  in part, on its ability to obtain patents
and license  patent rights,  to maintain trade secret  protection and to operate
without  infringing  on  the  proprietary  rights  of  others.  There  can be no
assurance that the Company's  issued patents will afford  meaningful  protection
against  a  competitor,  or that  patents  issued  to the  Company  will  not be
infringed  upon or  designed  around by others,  or that  others will not obtain
patents  that the Company  would need to license or design  around.  The Company
could incur substantial costs in defending itself or its licensees in litigation
brought by others or prosecuting  infringement  claims against third parties. If
the outcome of any such litigation is unfavorable to the Company,  the Company's
business could be adversely affected.

      Risks Regarding Potential Future Acquisitions

      The Company's growth strategy includes as a material element the desire to
acquire complementary companies, products or technologies. There is no assurance
that the Company will be able to identify appropriate  companies or technologies
to be acquired, to negotiate  satisfactory terms for such an acquisition,  or to
obtain  sufficient  capital  to make such  acquisitions.  Moreover,  because  of
limited cash  resources,  the Company will be unable to acquire any  significant
companies  or  technologies  for  cash  and  the  Company's  ability  to  effect
acquisitions  in exchange for the  Company's  capital  stock may depend upon the
market  prices for the Common  Stock.  If the Company does  complete one or more
acquisitions,  a number of risks arise,  such as short-term  negative effects on
the Company's reported operating results,  diversion of management's  attention,
unanticipated problems or legal liabilities, and difficulties in the integration
of  potentially  dissimilar  operations.  The occurrence of some or all of these
risks could have a material adverse effect on the Company's business,  financial
condition and results of operations.

      Dependence on Suppliers

      The components of the Company's  products  include  chemical and packaging
supplies that are generally  available  from several  suppliers,  except certain
antibodies,  which the  Company  purchases  from single  suppliers.  The Company
mitigates  the risk of a loss of supply by  maintaining  a sufficient  supply of
such  antibodies  to ensure an  uninterrupted  supply  for at least six  months.
Although the Company believes that it can substitute a new supplier with respect
to any of these  components in a timely manner,  there can be no assurances that
the Company will be able to  substitute  a new  supplier in a timely  manner and
failure to do so could have a material adverse effect on the Company's business,
financial condition and results of operations.

      Limited Manufacturing Experience with Certain Products

      Although the Company has  manufactured  over ten million  diagnostic tests
based on its  proprietary  applications  of  ELISA  technology,  certain  of the
Company's  diagnostic  products in  development or in  consideration  for future
development,   incorporate   technologies   with  which  the   Company   has  no
manufacturing  experience.   Assuming  successful  development  and  receipt  of
required  regulatory  approvals,  significant  work may be  required to scale up
production for each new product prior to such product's commercialization. There
can be no assurance  that such work can be completed in a timely manner and that
such new products can be manufactured cost-effectively,  to regulatory standards
or in sufficient volume.

      Seasonality of Products; Quarterly Fluctuations in Results of Operations

      The  Company's  revenue  and  operating  results  have  historically  been
minimally subject to quarterly fluctuations. There can be no assurance that such
seasonality  in the  Company's  results of  operations  will not have a material
adverse effect on the Company's business.

      Dependence on Key Personnel

      Because of the specialized nature of the Company's  business,  the success
of the Company will be highly  dependent  upon its ability to attract and retain
qualified  scientific  and  executive  personnel.  In  particular,  the  Company
believes  its  success  will depend to a  significant  extent on the efforts and
abilities of Dr. Luis R. Lopez and Douglass T.  Simpson,  who would be difficult
to replace.  There can be no assurance  that the Company will be  successful  in
attracting  and  retaining  such skilled  personnel,  who are  generally in high
demand  by  other  companies.  The  loss  of,  inability  to  attract,  or  poor
performance  by key  scientific  and  executive  personnel  may have a  material
adverse  effect on the Company's  business,  financial  condition and results of
operations.

      Product Liability Exposure and Limited Insurance

      The testing,  manufacturing  and marketing of medical  diagnostic  devices
entails an inherent risk of product  liability  claims. To date, the Company has
experienced  no product  liability  claims,  but any such claims  arising in the
future could have a material adverse effect on the Company's business, financial
condition and results of operations.  The Company's product liability  insurance
coverage is currently limited to $2 million.  Potential product liability claims
may exceed the amount of the  Company's  insurance  coverage  or may be excluded
from coverage under the terms of the Company's policy or limited by other claims
under the Company's  umbrella  insurance policy.  Additionally,  there can be no
assurance that the Company's existing insurance can be renewed by the Company at
a cost and level of coverage  comparable to that presently in effect, if at all.
In the event that the Company is held liable for a claim against which it is not
insured or for damages  exceeding  the limits of its  insurance  coverage,  such
claim could have a material adverse effect on the Company's business,  financial
condition and results of operations.

      Limited Public Market;  Possible Volatility in Stock Prices;  Penny Stock
      Rules

      There has, to date, been no active public market for the Company's  Common
Stock,  and there can be no assurance  that an active public market will develop
or be sustained.  Although the Company's Common Stock has been traded on the OTC
Bulletin  Board(R)  since  February  1998,  the trading has been  sporadic  with
insignificant volume.

      Moreover,  the  over-the-counter  markets  for  securities  of very  small
companies such as the Company  historically  have experienced  extreme price and
volume fluctuations during certain periods.  These broad market fluctuations and
other  factors,  such as new product  developments  and trends in the  Company's
industry and the investment markets and economic conditions  generally,  as well
as quarterly  variation in the Company's  results of  operations,  may adversely
affect  the  market  price of the  Company's  Common  Stock.  In  addition,  the
Company's  Common  Stock is  subject  to rules  adopted  by the  Securities  and
Exchange  Commission  regulating  broker-dealer  practices  in  connection  with
transactions  in "penny  stocks." As a result,  many  brokers are  unwilling  to
engage in  transactions  in the  Company's  Common  Stock  because  of the added
disclosure requirements.





<PAGE>


                          CORGENIX MEDICAL CORPORATION


                                     Part II


                                Other Information





Item 1.    Legal Proceedings


      Corgenix is not a party to any material litigation or legal proceedings.


Item 2.    Changes in Securities and Use of Proceeds


      None


Item 3.    Defaults Upon Senior Securities


      None


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


      No matters were  submitted  to a vote of the  Company's  security  holders
during the period covered by this report.


Item 5.    Other Information


      On September 21, 1999,  Alev Lewis  resigned as a director of the Company.
Ms.  Lewis  has  informed  the  Company  that her  resignation  was not due to a
disagreement   with  the  Company  on  any  matter  relating  to  the  Company's
operations, policies or practices.


Item 6.    Exhibits and Reports on Form 8-K


      (a)  Exhibits

<PAGE>










Exhibit                    Description of Exhibit

Number

2.1      Agreement and Plan of Merger dated as of May 12, 1998 by and among Gray
         Wolf Technologies, Inc., Gray Wolf Acquisition Corp. and REAADS Medical
         Products,  Inc.  (filed as Exhibit  2.1 to the  Company's  Registration
         Statement on Form 10-SB filed June 29, 1998, and
         incorporated herein by reference).


2.2      First  Amendment  to  Agreement  and Plan of Merger dated as of May 22,
         1998 by and among Gray Wolf  Technologies,  Inc., Gray Wolf Acquisition
         Corp. and REAADS Medical  Products,  Inc.  (filed as Exhibit 2.2 to the
         Company's Registration Statement on Form 10-SB filed June 29, 1998, and
         incorporated herein by reference).


2.3      Second  Amendment to Agreement  and Plan of Merger dated as of June 17,
         1998 by and among the Company  and  TransGlobal  Financial  Corporation
         (filed as Exhibit 2.3 to the Company's  Registration  Statement on Form
         10-SB filed June 29, 1998, and incorporated herein by reference).


3.1      Articles  of  Incorporation,  as amended  (filed as Exhibit  3.1 to the
         Company's Registration Statement on Form 10-SB filed June 29, 1998, and
         incorporated herein by reference).

3.2      Bylaws (filed as Exhibit 3.2 to the Company's Registration Statement on
         Form 10-SB filed June 29, 1998, and incorporated herein by reference).


         Certificate of Designations for Series A Preferred Stock
4.1      (filed as Exhibit 4.1 to the Company's Registration
         Statement on Form 10-SB filed June 29, 1998, and incorporated herein by
         reference).

10.1     Manufacturing Agreement dated September 1, 1994 between
         Chugai Pharmaceutical Co., Ltd. and REAADS Medical
         Products, Inc. (filed as Exhibit 10.1 to the Company's
         Registration Statement on Form 10-SB filed June 29, 1998,
         and incorporated herein by reference).

10.2     Amendment to the  Manufacturing  Agreement dated as of January 17, 1995
         between Chugai  Pharmaceutical  Co., Ltd. and REAADS Medical  Products,
         Inc.(filed as Exhibit 10.2 to the Company's  Registration  Statement on
         Form 10-SB filed June 29, 1998, and incorporated herein by reference).


10.3     Amendment  Agreement dated November 17, 1997 between Chugai  Diagnostic
         Science,  Co., Ltd. and REAADS Medical Products,  Inc.(filed as Exhibit
         10.3 to the Company's  Registration  Statement on Form 10-SB filed June
         29, 1998, and incorporated herein by reference).


10.4     Distribution   Agreement   dated   August  26,  1993   between   Chugai
         Pharmaceutical  Co., Ltd. and REAADS  Medical  Products,  Inc.(filed as
         Exhibit  10.4 to the  Company's  Registration  Statement  on Form 10-SB
         filed June 29, 1998, and incorporated herein by reference).

10.5     Amendment to the Distribution Agreement dated September
         7, 1994 between Chugai Pharmaceutical Co., Ltd. and
         REAADS Medical Products, Inc. (filed as Exhibit 10.5 to
         the Company's Registration Statement on Form 10-SB filed
         June 29, 1998, and incorporated herein by reference).


10.6     Distribution   Agreement   dated   November  14,  1997  between  Chugai
         Diagnostics Science Co, Ltd. and REAADS Bio-Medical  Products (UK) Ltd.
         (filed as Exhibit 10.6 to the Company's  Registration Statement on Form
         10-SB filed June 29, 1998, and incorporated herein by reference).


10.7     Product  Development  and  Manufacturing  Agreement dated September 12,
         1994 between  REAADS  Medical  Products,  Inc. and Helena  Laboratories
         Corporation  (filed  as  Exhibit  10.7  to the  Company's  Registration
         Statement on Form 10-SB filed June 29, 1998, and incorporated herein by
         reference).


10.8     Amendment to Product Development and Manufacturing  Agreement effective
         December  15, 1997 between  REAADS  Medical  Products,  Inc. and Helena
         Laboratories  Corporation  (filed  as  Exhibit  10.8  to the  Company's
         Registration   Statement  on  Form  10-SB  filed  June  29,  1998,  and
         incorporated herein by reference).


10.9     Office Lease dated February 6, 1996 between Stream Associates, Inc. And
         REAADS Medical  Products,  Inc. (filed as Exhibit 10.9 to the Company's
         Registration   Statement  on  Form  10-SB  filed  June  29,  1998,  and
         incorporated herein by reference).


10.10    Guarantee  dated  November  1, 1997  between  William  George  Fleming,
         Douglass  Simpson and Geoffrey Vernon Callen (filed as Exhibit 10.10 to
         the Company's Registration Statement on Form 10-SB filed June 29, 1998,
         and incorporated herein by reference).


10.11    Employment  Agreement  dated May 22, 1998 between Luis R. Lopez and the
         Company (filed as Exhibit 10.11 to the Company's Registration Statement
         on  Form  10-SB  filed  June  29,  1998,  and  incorporated  herein  by
         reference).

10.12    Employment Agreement dated May 22, 1998 between Douglass T. Simpson and
         the  Company  (filed as  Exhibit  10.12 to the  Company's  Registration
         Statement on Form 10-SB filed June 29, 1998, and incorporated herein by
         reference).


10.13    Employment  Agreement dated May 22, 1998 between Ann L. Steinbarger and
         the  Company  (filed as  Exhibit  10.13 to the  Company's  Registration
         Statement on Form 10-SB filed June 29, 1998, and incorporated herein by
         reference).


10.14    Employment  Agreement  dated May 22, 1998 between Taryn G. Reynolds and
         the  Company  (filed as  Exhibit  10.14 to the  Company's  Registration
         Statement on Form 10-SB filed June 29, 1998, and incorporated herein by
         reference).


10.15    Employment Agreement dated May 22, 1998 between Catherine  (O'Sullivan)
         Fink  and  the  Company  (filed  as  Exhibit  10.15  to  the  Company's
         Registration   Statement  on  Form  10-SB  filed  June  29,  1998,  and
         incorporated herein by reference).


10.16    Consulting Contract dated May 22, 1998 between Wm. George Fleming, Bond
         Bio-Tech, Ltd. and the Company (filed as Exhibit 10.16 to the Company's
         Registration   Statement  on  Form  10-SB  filed  June  29,  1998,  and
         incorporated herein by reference).


10.17    Stock  Purchase  Agreement  dated  September  1,  1993  between  Chugai
         Pharmaceutical  Co., Ltd. and REAADS Medical  Products,  Inc. (filed as
         Exhibit  10.17 to the  Company's  Registration  Statement on Form 10-SB
         filed June 29, 1998, and incorporated herein by reference).


10.18    Lead  Generation/Corporate  Relations  Agreement  dated  April 14, 1998
         between the Company  and  Corporate  Relations  Group,  Inc.  (filed as
         Exhibit  10.18 to the  Company's  Registration  Statement on Form 10-SB
         filed June 29, 1998, and incorporated herein by reference).


10.19    Note dated January 6, 1997 between  REAADS Medical  Products,  Inc. and
         Eagle  Bank  (filed  as  Exhibit  10.19 to the  Company's  Registration
         Statement on Form 10-SB filed June 29, 1998, and incorporated herein by
         reference).


10.20    Deed of Guarantee  Sterling  and Currency  dated May 14, 1997 by REAADS
         Bio-Medical  Products  (UK)  Limited  (filed  as  Exhibit  10.20 to the
         Company's Registration Statement on Form 10-SB filed June 29, 1998, and
         incorporated herein by reference).


10.21    Option Agreement dated as of May 22, 1998 between TransGlobal Financial
         Corporation  and the Company  (filed as Exhibit  10.21 to the Company's
         Registration   Statement  on  Form  10-SB  filed  June  29,  1998,  and
         incorporated herein by reference).


10.22    Consulting  Agreement dated May 22, 1998 between TransGlobal  Financial
         Corporation  and the Company  (filed as Exhibit  10.22 to the Company's
         Registration   Statement  on  Form  10-SB  filed  June  29,  1998,  and
         incorporated herein by reference).


10.23    Distributor  Agreement  dated  as of  August  3,  1998  by and  between
         American  Biogenetic  Sciences,  Inc. and the Company (filed as Exhibit
         10.23 to the Company's  Registration  Statement on Form 10-SB/A-1 filed
         September 24, 1998,  and  incorporated  herein by  reference)  (certain
         portions of Exhibit  10.23 have been  omitted  based upon a request for
         confidential  treatment;  the omitted portions have been filed with the
         Commission).


10.24    Form of Indemnification Agreement between the Company and its directors
         and  officers  (filed as Exhibit  10.24 to the  Company's  Registration
         Statement on Form 10-SB/A-1 filed September 24, 1998, and  incorporated
         herein by reference).


11.1*    Statement Regarding Computation of Net Income per Share.


21.1     Subsidiaries of the Registrant  (filed as Exhibit 21.1 to the Company's
         Registration   Statement  on  Form  10-SB  filed  June  29,  1998,  and
         incorporated herein by reference).


27*      Financial Data Schedule



-------------------------------
*  Filed herewith.


      (b)  Reports on Form 8-K.

           None


<PAGE>


                                        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.



                                    CORGENIX MEDICAL CORPORATION

November 15, 1999                   By:   /s/ Luis R. Lopez
                                    Luis R. Lopez, M.D.
                                    Chairman and Chief Executive Officer