SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB



(Mark One)
     [X] Quarterly  report under Section 13 or 15(d) of the Securities  Exchange
Act of 1934 for the fiscal year ended March 31, 1997.

     [ ] Transition report under Section 13 or 15(d) of the Securities  Exchange
Act of 1934 for the transition period from to


     Commission file number:  0-13409


                        Eurotronics Holdings Incorporated
                 (Name of Small Business Issuer in Its Charter)

           Utah                                          87-0550824
(State or Other Jurisdiction of                      (I.R.S. Employer
Incorporation or Organization)                      Identification No.)


             1130 John Anderson Drive - Ormond Beach, Florida 32176
                    (Address of Principal Executive Offices)


                                 (904) 441-1031
                (Issuer's Telephone Number, Including Area Code)


     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 No XX

     The number of shares  outstanding of the issuer's  common stock,  par value
$0.0001, as of August 26, 1997 was 3,943,187.

                                                                  Total Pages: 6
                                                     Exhibit Index on Page:    6
<PAGE>
                                TABLE OF CONTENTS


                                     PART I


ITEM 1.  FINANCIAL STATEMENTS ........................................    3

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION ...    3

                                     PART II

ITEM 6        EXHIBITS AND REPORTS ON FORM 8-K  ......................    4

              SIGNATURES .............................................    5

              INDEX TO EXHIBITS ......................................    6
<PAGE>
                                     PART I

ITEM 1.  FINANCIAL STATEMENTS



     Unless  otherwise  indicated,  the term  "Company"  refers  to  Eurotronics
Holdings   Incorporated   and  its   former   subsidiaries   and   predecessors.
Consolidated,  unaudited interim financial  statements including a balance sheet
for the Company as of the fiscal  quarter ended March 31, 1997 and statements of
operations and statements of cash flows for the interim period up to the date of
such balance sheet and the  comparable  period of the preceding  fiscal year are
attached  hereto  as Pages  F-1  through  F-5 and  incorporated  herein  by this
reference.
<PAGE>

                                     PART I

ITEM 1.  FINANCIAL STATEMENTS

INDEX TO UNAUDITED CONDENSED FINANCIAL STATEMENTS                           PAGE

Balance Sheets...............................................................F-1

Statements of Operations .................................................   F-2

Statements of Stockholders' Deficit ......................................   F-3

Statements of Cash Flows .................................................   F-4

Notes to Financial Statements ............................................   F-5
<PAGE>

                        EUROTRONICS HOLDINGS INCORPORATED
                          (A Development Stage Company)
                     Formerly Hamilton Exploration Co., Inc.
                        Unaudited Condensed Balance Sheet
                                 March 31, 1997


                                                                ASSETS

Current Assets
   None .................................................     $      --

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

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

                     LIABILITIES AND SHAREHOLDERS' DEFICIT

Current Liabilities
   Accrued expenses .....................................     $   167,426
   Bank overdraft .......................................             153
                                                                        -

Total Current Liabilities ...............................         167,579

Shareholders' Deficit
   Common stock par value $.0001; 200,000,000
     shares authorized; 4,520,336  shares issued ........             452
   Additional paid-in capital ...........................         914,724
   Deficit accumulated during development stage .........      (1,082,755)
                                                                        -

Total Shareholders' Deficit .............................        (167,579)

TOTAL LIABILITIES AND
SHAREHOLDERS' DEFICIT ...................................       $      --
                                                               ===============

             See notes to unaudited condensed financial statements.


                                      F-1
<PAGE>
<TABLE>
<CAPTION>
                           EUROTRONICS HOLDINGS, INC.
                          (A Development Stage Company)
                     Formerly Hamilton Exploration Co., Inc.
                  UNAUDITED CONDENSED STATEMENTS OF OPERATIONS
          For The Three Months Ended March 31, 1997 and March 31, 1996
     Period From Date of Inception (January 7, 1982) Through March 31, 1997


                                                                                                Inception
                                                                  Three           Three          Through
                                                                  Months          Months        March 31,
                                                                   1997            1996           1997
                                                                -----------   -----------    ------------

Revenue:
<S>                                                            <C>            <C>            <C>        
     Interest Income .......................................   $      --      $      --      $    61,208


Expenses:
     Investigation, evaluation and exploration of
         prospective mineral properties ....................          --             --          424,416
     Loss on investment securities .........................          --             --           28,302
     General and administrative ............................        21,687          5,225        692,636
     Amortization and depreciation .........................          --             --            1,000
     Interest expenses .....................................            36           --               36
                                                                        --                            --
                                                                       21,723        5,225     1,146,390
                                                                   -----------    ---------   -----------

Net loss before income taxes and ...........................       (21,723)        (5,225)    (1,085,182)
     extraordinary item
     Income taxes ..........................................          --             --             (183)
                                                                   -----------    ---------   -----------

Net loss before extraordinary item .........................       (21,723)        (5,225)    (1,085,365)
     Extraordinary item - debt settlement ..................          --             --            2,610
                                                                  -----------     ----------  ------------

NET LOSS ...................................................   $   (21,723)     $  (5,225)$     (1,082,755)
                                                                   ===========    =========   ===========

NET INCOME (LOSS) PER COMMON SHARE .........................   $    (0.00)      $   (0.01)
                                                                 ============ ===========

Weighted average number of shares outstanding ..............     4,520,336        461,825
                                                                  =========   ===========
             See notes to unaudited condensed financial statements.

</TABLE>

                                      F-2
<PAGE>
<TABLE>
<CAPTION>
                           EUROTRONICS HOLDINGS, INC.
                          (A Development Stage Company)
                     Formerly Hamilton Exploration Co., Inc.
               STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY Period
   From Date of Inception ( January 7, 1982) Through March 31, 1997(Unaudited)
                                                                                                        Additional
                                                                         Common Stock     Common Stock    Paid-In        Accumulated
                                                                            Shares            Amount      Capital           Deficit

Issuance of common stock to incorporators
<S>                                                                         <C>            <C>             <C>             <C>   
  for cash - 1992 ......................................................    15,000,000     $    1,500      $  28,500           --
Change in number of shares issued to
  incorporators and price per share - 1983 .............................     2,142,857            214           (214)          --
Issuance of common stock fr cash - 1983 ................................    14,285,715          1,429         23,571           --
Public stock offering for cash, net of $111,627
  in underwriting expenses - 1984 ......................................    49,500,000          4,950        378,423           --
Sale of warrants .......................................................          --             --              100           --
Net loss for the period from date of inception
  (January 7, 1982) through December 31, 1994 ..........................          --             --             --         (442,883)


Balance December 31, 1994 ..............................................    80,928,572          8,093        430,380       (442,883)
                                                                           -----------    -----------    -----------    -----------

Reverse stock split, 1 for 1.500 in 1995 ...............................   (80,874,160)        (8,088)         8,088           --
Issuance of shares for no determinable
 consideration - 1995 ..................................................        76,667              8             (8)          --
Issuance of shares for cash - 1995 .....................................       904,722             90        108,160           --
Issuance of shares for services - 1995 .................................     1,459,921            146        145,846           --
Issuance of shares for assets - 1995 ...................................     1,698,114            170        169,641           --
Issuance of shares for debt - 1995 .....................................       226,500             23         22,627           --
Results of operations year ended December 31, 1995 .....................          --             --             --         (318,514)
                                                                            ----------    -----------    ----------     -----------

Balance December 31, 1995 ..............................................     4,420,336            442        884,734       (761,397)
                                                                            ----------    -----------    -----------     ----------

Issuance of shares for costs of proposed merger ........................       100,000             10         29,990           --
Results of operations year ended December 31, 1996 .....................          --             --             --         (299,635)

Balance December 31, 1996 ..............................................     4,520,336            452        914,724     (1,061,032)
                                                                             ----------   ------------   -----------  -----------

Results of operations quarter ended March 31, 1997 .....................          --             --             --          (21,723)

Balance March 31, 1997 .................................................     4,520,336    $       452    $   914,724    $(1,082,755)
                                                                            ===========   ===========    ===========    ===========

</TABLE>


             See notes to unaudited condensed financial statements.
<PAGE>
<TABLE>
<CAPTION>
                                                     EUROTRONICS HOLDINGS, INC.
                                                    (A Development Stage Company)
                                               Formerly Hamilton Exploration Co., Inc.
                                                       STATEMENT OF CASH FLOWS
                                        Three Months Ended March 31, 1997 and March 31, 1996
                        Period From Date of Inception ( January 7, 1982) Through March 31, 1997 (Unaudited)


                                                                                                        Inception
                                                                      Three             Three             Through
                                                                      Months            Months           March 31,
                                                                       1997              1996              1997
                                                                     --------        ----------          ---------

CASH FLOWS FROM OPERATING ACTIVITES:

<S>                                                               <C>               <C>               <C>         
  Net (Loss) ...............................................      $   (21,723)      $    (5,255)      $(1,082,755)

  Adjustments to reconcile net (loss) to net cash
  used by operating activities:

      Increase (decrease) in accrued liabilities ...........           21,646             1,484           308,936
      Services paid with common stock ......................             --                --             175,992
      Common stock issued for debt .........................             --                --              22,650
      Loss due to permanent decline in investment ..........             --                --              28,302


Total Adjustments ..........................................             --               1,484           535,880
                                                                    -----------       -----------       -----------

  Net cash (used) by operating activities ..................             --              (3,771)         (546,875)
                                                                    -----------       -----------     ------------

CASH FLOWS FROM FINANCING ACTIVITIES:

  Capital contributions by incorporators ...................             --                --              55,000
  Proceeds from public stock offering ......................             --                --             383,473
  Issuance of common stock for cash ........................             --                --             108,249

  Net cash provided by financing activities ................             --                --             546,722
                                                                  -----------       -----------       -----------
  Net increase (decrease) in cash ..........................              (77)         (3.771)             (153)

  Cash, beginning ..........................................              (76)            6,056              --

  Cash, ending .............................................      $      (153)      $     2,285        $    (153)
                                                                    ===========       ===========      ===========


SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING
AND FINANCING ACTIVITIES:
      Issuance of common stock for services ................      $      --         $      --         $   175,992
                                                                   ===========       ===========       ===========

      Issuance of common stock for debt ....................      $      --         $      --         $    22,650
                                                                  ===========       ===========       ===========

      Issuance of common stock for investments .............      $      --         $      --         $   169,812
                                                                   ===========      ===========      ============

      Investments exchanged for debt settlements ...........      $      --         $      --         $   141,510
                                                                   ===========       ===========     ============

                                       See notes to unaudited condensed financial statements.

                                                                F-4
</TABLE>
<PAGE>
                           EUROTRONICS HOLDINGS, INC.
                          (A Development Stage Company)
                     Formerly Hamilton Exploration Co., Inc.
                          NOTES TO FINANCIAL STATEMENTS
                                 March 31, 1997

NOTE 1:  Basis of Presentation

The accompanying  unaudited condensed financial statements have been prepared by
management in accordance with the instructions in Form 10-QSB and therefore,  do
not  include all  information  and  footnotes  required  by  generally  accepted
accounting  principles and should  therefore,  be read in  conjunction  with the
Company's  Annual  Report to  Shareholders  on Form 10-KSB for fiscal year ended
December 31, 1996.

In  management's   opinion,  the  accompanying   unaudited  condensed  financial
statements  contain  all  adjustments,   consisting  only  of  normal  recurring
adjustments  necessary  for a fair  statement  of the  results  for the  interim
periods presented.  The interim operation results are not necessarily indicative
of the results for the fiscal year ending December 31, 1997.

NOTE 2:  Additional footnotes included by reference

Except as  indicated  in the  footnotes  above there has been no other  material
change in the  information  disclosed in the notes to the  financial  statements
included in the Company Annual Report on Form 10-KSB for the year ended December
31, 1996. Therefore those footnotes are included herein be reference.
<PAGE>

ITEM 2.       MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION



     The Company has not had revenues from  operations in either of the last two
fiscal years. In July 1996, the Company  executed an agreement to acquire a Utah
company known as  InterConnect  West,  Inc. The Company  executed this agreement
with  the  intention  of   contributing   significant   amounts  of  capital  to
InterConnect and expanding  InterConnect's marketing focus. For more information
on the Company's  business plan with respect to InterConnect,  see the Company's
Form 10-QSB for quarter ended  September 30, 1996.  The Company was relying upon
its  ability  to obtain  outside  financing  to make the  capital  contributions
necessary  to expand  InterConnect's  operations.  Due  largely to delays in the
consummation of the acquisition,  the Company was unable to generate the capital
necessary  to finance the  successful  acquisition  of  InterConnect.  Under the
control of new  management,  the Company  executed an agreement to terminate and
rescind the acquisition of InterConnect on June 4, 1997.

     In  December  1995,   the  Company   acquired   Eurotronics   International
Incorporated,  a Nevada corporation which owned a computer  information  company
specializing in computer  software systems in Belgium ("EII").  In May 1996, the
acquisition of EII was rescinded because EII could not deliver audited financial
information  required  to be  delivered  by  EII  pursuant  to  the  acquisition
agreement.  Because both the EII and the InterConnect agreements were rescinded,
the Company did not consolidate the financial  statements of either InterConnect
or EII in the years 1995 and 1996.

     Since the acquisition of InterConnect  was rescinded,  the Company has been
searching for a viable  candidate for merger or  acquisition.  The Company lacks
any  significant  cash flow or assets and the  Company's  intent is therefore to
issue shares of its common stock as consideration  for any subsequent  merger or
acquisition.  This will  likely  result in  substantial  future  dilution of the
current ownership interest of the Company's shareholders. If the Company effects
a future  merger or  acquisition,  it will need  financing  to satisfy  the cash
requirements of its  merger/acquisition  partner. The nature and extent of these
requirements  will  depend upon the kind of  business  acquired by the  Company.
Given the Company's limited cash flow and history of operating losses,  there is
a  substantial  risk  that the  Company  will not be able to raise  the  capital
necessary to make a subsequent  merger or  acquisition  successful.  The Company
intends to raise capital primarily through private offerings of its common stock
and can  provide  no  assurances  that it  will be able to  generate  sufficient
capital in this manner. This is especially significant considering the Company's
inability to finance the acquisition of InterConnect.

     The Company  has been able to satisfy  many of its  obligations  by issuing
shares of its common stock.  Accordingly,  the Company has been able to meet its
obligations  without  expenditures  of its cash flows.  The  Company  intends to
continue this practice,  but the Company can provide no assurances  that it will
continue to be able to satisfy its obligations in this manner.

     The Company does not currently have any full or part time employees,  aside
from its officers and directors. The Company is substantially dependent upon the
services  of its  officers  and  directors,  who  have  no  formal  compensation
arrangements  with the Company.  If the Company  ultimately  effects a merger of
acquisition,  it will likely need to hire employees to perform the operations of
the  acquired  company.  The number of  employees  will depend on the nature and
extent of the business acquired.


                                     PART II



ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K



     (a)  Exhibits.  Exhibits  required to be attached by Item 601 of Regulation
          S-B are listed in the Index to  Exhibits  beginning  on page 6 of this
          Form 10-QSB, which is incorporated herein by reference.

     (b)  Reports on Form 8-K.  The Company did not file any reports on Form 8-K
          during the fiscal quarter ended March 31, 1997.

<PAGE>

                                   SIGNATURES

     In accordance  with Section 13 or 15(d) of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized, this 30TH day of September 1997.


                        Eurotronics Holdings Incorporated



                        /s/Mel Fields
                        ---------------------
                        Mel Fields, President




     In  accordance  with the Exchange Act, this report has been signed below by
the following  persons on behalf of the  registrant and in the capacities and on
the dates indicated.

Signature                          Title                          Date

/s/Mel Fields                      President and Director     September 30, 1997
  Mel Fields


/s/Joe Betras                      Director                   September 30, 1997
  Joe Betras

<PAGE>



                                INDEX TO EXHIBITS


EXHIBIT NO.         PAGE NO.      DESCRIPTION OF EXHIBIT

10(a)(1)                 *        February  11, 1997 Amended  Agreement  for the
                                  Exchange of Stock  executed by and between the
                                  Company,  InterConnect West, Inc., Mark Tolman
                                  and  other  parties  (incorporated  herein  by
                                  reference  to the  Company's  Form  10-KSB for
                                  fiscal year ended December 31, 1997).

10(a)(2)                 *        June 3, 1997  Rescission of Amended  Agreement
                                  for the  Exchange of Stock and Mutual  Release
                                  of  all  Claims  executed  by and  beteen  the
                                  Company,  InterConnect  West,  Inc.  and  Mark
                                  Tolman  (incorporated  herein by  reference to
                                  the  Company's  Form  10-KSB for  fiscal  year
                                  ended December 31, 1997).