UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20459

                                    FORM 10-Q

            QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE
                    SECURITIES EXCHANGE ACT OF 1934


                    FOR THE QUARTER ENDED SEPTEMBER 30, 1999

                       COMMISSION FILE NUMBER 033-55254-27

                          ADVANCED LUMITECH, INC.
              (Exact name of registrant as specified in its charter)



              Nevada                                          87-0438637
(State or other jurisdiction of                              (IRS Employer
incorporation or organization)                            Identification Number)

36 Avenue Cardinal Mermillod
Carouge, Switzerland                                             1227
(Address of principle executive offices)                     (Zip Code)

                                 41-22-301-0360
              (Registrant's telephone number, including area code)



   Indicate  by check mark  whether  the  registrant  (1) has filed all  reports
required to be filed by Section 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. Yes ____ No X

Indicate the number of shares outstanding of the registrant's  Common Stock, par
value $.001 par value per share, as of November 18, 1999 was 28,799,770.


<PAGE>




                             ADVANCED LUMITECH, INC.
                                TABLE OF CONTENTS



                                                                     Page
PART I. FINANCIAL INFORMATION

ITEM 1 FINANCIAL STATEMENTS
  CONSOLIDATED BALANCE SHEETS                                           3
  CONSOLIDATED STATEMENTS OF OPERATIONS                                 4
  CONSOLIDATED STATEMENTS OF CASH FLOWS                                 5
  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS                            6

ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS
  OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS                      9

ITEM 3 QUANTITATIVE AND QUALITATIVE DISCLOSURE
 ABOUT MARKET RISK                                                     15


PART II. OTHER INFORMATION

ITEM 6 EXHIBITS                                                        16

SIGNATURES                                                             17

EXHIBIT INDEX                                                          18





<PAGE>


                             ADVANCED LUMITECH, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)
                           CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>

Assets                                                              September 30, 1999   December 31, 1998
                                                                    ------------------- -------------------
                                                                    (unaudited)
<S>                                                                 <C>                   <C>
Current assets:
   Cash and cash equivalents                                                 $   7,848           $ 207,938
   Prepaid expenses and other assets                                             6,397               9,878
                                                                    ------------------- -------------------
Total current assets                                                            14,245             217,816

Property and equipment:
   Office and photographic equipment                                            98,107              60,108
   Less:  Accumulated depreciation                                            (58,839)            (33,599)
                                                                    ------------------- -------------------
                                                                                39,268              26,509
                                                                    =================== ===================
Total assets                                                                 $  53,513           $ 244,325
                                                                    =================== ===================

Liabilities and stockholders' deficit Current liabilities:
   Borrowings under bank line-of-credit                                      $ 390,482           $ 408,641
   Accounts payable and accrued liabilities                                    476,329             151,699
   Accounts payable to affiliated companies                                    133,392             156,412
   Notes payable to related party                                               40,824              44,066
                                                                    ------------------- -------------------
Total current liabilities                                                    1,041,027             760,818

Notes payable to directors                                                     394,406             255,809
                                                                    ------------------- -------------------
Total liabilities                                                            1,435,433           1,016,627

Stockholders' deficit:
   Common stock, $0.001 par value;
     Authorized; 100,000,000 shares
     Issued and outstanding;  27,679,602 and 25,000,000  shares at September 30,
     1999 and December 31, 1998, respectively
                                                                                27,680              25,000
   Additional paid-in capital                                                  342,746              45,426
   Stock subscribed                                                            688,347             688,347
   Stock subscriptions receivable                                             (34,965)            (34,965)
   Deficit accumulated during the development stage                        (2,510,175)         (1,537,032)
   Cumulative translation adjustment                                           104,447              40,922
                                                                    ------------------- -------------------
Total stockholders' deficit                                                (1,381,920)           (772,302)
                                                                    =================== ===================
Total liabilities and stockholders' deficit                                   $ 53,513           $ 244,325
                                                                    =================== ===================
</TABLE>

                  See Notes to Unaudited Consolidated Financial Statements



<PAGE>


                             ADVANCED LUMITECH, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)



<TABLE>
<CAPTION>


                                                                                                                     Period from
                                                                                                                      inception
                                     Three months        Three months        Nine months         Nine months     (February 7, 1992)
                                         ended               ended              ended               ended         through September
                                     September 30,       September 30,      September 30,       September 30,            30,
                                         1999                1998                1999               1998                1999
                                  -------------------- ------------------ ------------------- ------------------ -------------------
<S>                                <C>                 <C>                 <C>                 <C>                <C>

Sales to third parties            $            -       $                -  $          -       $                - $       814,540
Sales to affiliated company                   -                    -                                       -           203,040
                                  -------------------- ------------------ ------------------- ------------------ -------------------
                                              -                    -                  -                               1,017,580
                                                                                              -

   Cost of sales                              -                    -                                       -          1,005,756
                                  -------------------- ------------------ ------------------- ------------------ -------------------

Gross profit (loss)                           -                    -                  -                   -             11,824

Operating expenses:
Research and development                 36,727                    -            109,826                   -            109,826
Selling and marketing                    72,501               24,134            158,862              43,620            329,189
General and administrative               63,333                    -            698,775                   -          1,841,853
                                  -------------------- ------------------ ------------------- ------------------ -------------------
                                        172,561               24,134            967,463              43,620          2,280,868
                                  -------------------- ------------------ ------------------- ------------------ -------------------

Operating loss                         (172,561)             (24,134)          (967,463)            (43,620)        (2,269,044)
Interest expense, net                     8,229               12,621             24,009              38,581            259,460
                                  ==================== ================== =================== ================== ===================
Net loss                           $   (180,790)        $    (36,755)      $   (991,472)       $    (82,201)      $ (2,528,504)
                                  ==================== ================== =================== ================== ===================


Basis and diluted
   loss per share                 $      (0.00)        $      (0.00)      $      (0.00)             $    (0.00)

Shares used to compute basic and
diluted loss  per share
                                    26,718,916            5,000,000             26,102,939           25,000,000
</TABLE>



          See Notes to Unaudited Consolidated Financial Statements



<PAGE>


                             ADVANCED LUMITECH, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)


<TABLE>
<CAPTION>





                                                      Nine months       Nine months    Period from inception
                                                         ended             ended        (February 7, 1992)
                                                     September 30,     September 30,   through September 30,
                                                          1999             1998                1999
                                                    ----------------- ---------------- ---------------------

<S>                                                  <C>              <C>                 <C>
Operating activities
Net loss                                                 $ (991,472)        $(82,201)         $ (2,528,504)
Adjustments to reconcile net loss to net cash
   Provided by (used in) operating activities:
      Inventory written-off                                        -                -                72,079
     Depreciation                                             20,240            2,698                56,106
     General and administrative expense                                             -               300,000
    associated with stock issued (Note 7)                    300,000

     Changes in operating assets and liabilities:
        Accounts receivable from affiliated                        -            5,330                     -
company
        Prepaid expenses and other current assets              3,481            (487)              (78,476)
        Accounts payable and accrued liabilities             324,630        (164,074)               476,329
        Accounts payable to affiliated companies            (23,020)                                133,392
                                                    ----------------- ---------------- ---------------------
Net cash used in operating activities                      (366,141)        (238,734)           (1,569,074)

Investing activities
   Proceeds from disposal of property and                          -                -                10,216
equipment
   Purchase of property and equipment                       (14,670)         (24,336)              (87,079)
                                                    ----------------- ---------------- ---------------------
Net cash (used in) investing activities                     (14,670)         (24,336)              (76,863)

Financing activities
   Net change in bank line of credit                        (18,159)            7,246               390,482
   Change in notes payable to directors                      138,597                                394,406
   Change in note payable to related party                   (3,242)         (74,380)                40,642
   Cash received for subscriptions of common stock                 -          373,250               723,808
                                                    ----------------- ---------------- ---------------------
Net cash provided by financing activities                    117,196          306,116             1,549,338

Effects of changes in foreign exchange rates                  63,525           14,445               104,447

                                                    ----------------- ---------------- ---------------------
Increase (decrease) in cash                                (200,090)           57,491                 7,848
Cash and cash equivalents at beginning of period             207,938              494                    -
Cash and cash equivalents at end of period                  $  7,848         $ 57,985                $7,848
                                                    ================= ================ =====================


</TABLE>



            See Notes to Unaudited Consolidated Financial Statements



<PAGE>


                             ADVANCED LUMITECH, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)


1.       Basis of Presentation
The  accompanying   unaudited  consolidated  financial  statements  include  the
accounts  of  Advanced  Lumitech,   Inc.  ("ADLU"  or  the  "Company")  and  its
wholly-owned  subsidiary,  Lumitech SA ("Swiss Lumitech").  The Company believes
that the unaudited  consolidated  financial  statements  reflect all adjustments
(consisting  of  only  normal  recurring  adjustments),  necessary  for  a  fair
presentation of the Company's financial position, results of operations and cash
flows at the dates and for the periods indicated.  The results of operations for
the three and nine month  periods ended  September  30, 1999 is not  necessarily
indicative  of results  expected  for the full fiscal  year or any other  future
periods.  The  unaudited  consolidated  financial  statements  should be read in
conjunction with the consolidated financial statements and related notes for the
year ended  December 31, 1998,  included in the Company's  Annual Report on Form
10-K for such fiscal year.

Effective  August 13, 1998,  the Company  acquired 100% of the then  outstanding
common stock of Swiss  Lumitech  for  consideration  of  4,000,000  newly issued
common  shares  ($  0.001  par  value)  of the  Company.  As a  result  of  this
transaction,  the shareholders of Swiss Lumitech became majority shareholders of
the Company,  owning 80% of the Company's  then issued  5,000,000  voting common
shares before giving effect to the previously disclosed 5 for 1 stock split.

For  accounting  purposes,  the  acquisition  of Swiss Lumitech was treated as a
purchase  (reverse  acquisition) of the Company by Swiss Lumitech.  In a reverse
acquisition,  the historical  shareholders'  equity of the acquiror prior to the
merger is retroactively  restated (a recapitalization) for the equivalent number
of shares  received in the merger after giving  effect to any  difference in par
value of the issuers and acquirer's  stock by an offset to paid in capital.  All
share  and  per-share   information  has  been  presented  in  the  accompanying
consolidated  financial statements as if recapitalization had occurred as of the
first day presented in the financial statements.  Accordingly,  the accompanying
consolidated  financial  statements  and related notes reflect the operations of
the Company  combined  with the  operations  of Swiss  Lumitech from February 7,
1992,  the  inception  date  of  Swiss  Lumitech,  to  September  30,  1999.

2. Description of Business ADLU is a developmental stage company, which, through
Swiss Lumitech, has developed and patented a process to create luminescent color
pictures of photographic  quality,  which can be applied to a variety of objects
in numerous applications (the "Luminescence  Technology").  The Company plans to
market the  Luminescence  Technology  and related  products under the brand name
`Brightec'.  Although  Swiss  Lumitech  believes it has  developed  the Brightec
products to a marketable  form, it has yet to  commercially  market the Brightec
products and generate revenues  therefrom.  The Company's success will depend in
part on its  ability  to obtain and  maintain  patent  protection  in the United
States and other  countries where the  Luminescence  Technology is patented or a
patent  application is in process.  The  commercial  success of the Company also
depends in part on neither  infringing  patents or  proprietary  rights of third
parties nor breaching any licenses that may relate to the Company's Luminescence
Technology and Brightec products.
<PAGE>

From the period  January 1, 1996 to December 31, 1997,  the  Company's  business
strategy was to sell watches on to which the  Luminescence  Technology  had been
applied,  to an affiliated  company.  Effective  December 31, 1997,  the Company
ceased  such  activities  and  focused  its  efforts on further  developing  the
Luminescence  Technology and Brightec  products and raising funds to finance its
new business strategy.  Accordingly,  the Company is classified as a development
stage company in accordance with Statement of Financial Accounting Standards No.
7, "Accounting and Reporting by Development Stage Enterprises."

3.       Basic and Diluted Net Loss per Common Share
Basic and  diluted  net loss per common  share is  computed  on the basis of the
weighted  average  number of shares of  common  stock  outstanding.  There is no
difference between basic and diluted net loss per common share since the Company
has recorded losses since inception.

4.       Comprehensive Income
The Company  adopted  Statement of Financial  Accounting  Standards,  "Reporting
Comprehensive  Income"  ("SFAS  130").  SFAS 130  requires  disclosure  of total
non-stockholder  changes in equity in interim periods and additional disclosures
of the components of non-stockholder changes in equity on an annual basis. Total
non-stockholder changes in equity includes all changes in equity during a period
except those resulting from  investments by and  distributions  to stockholders.
For  the  nine  months  ended   September  30,  1999  and  1998,  the  Company's
comprehensive income (loss) was as follows:

<TABLE>
<CAPTION>


                                                                                       Period from inception
                                                             Nine months ended            (February 7, 1992)
                                                               September 30,           through September 30,
                                                          1999              1998                1999
                                                   ---------------- ------------------ --------------------

<S>                                                   <C>                <C>              <C>
Net loss                                              $ (991,472)       $ (82,201)         $(2,528,504)

Foreign currency translation gain                         63,525           14,445             104,447

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

Total comprehensive loss                              $  927,947        $ (67,756)         $ (2,424,057)
                                                   ---------------- ------------------ --------------------
</TABLE>

<PAGE>

5.   New Accounting Pronouncement
In June 1998,  the  Financial  Accounting  Standards  Board issued  Statement of
Financial Accounting  Standards No. 133, "Accounting for Derivative  Instruments
and Hedging  Activities" ("SFAS 133"). SFAS 133 will become effective in January
2000.  SFAS 133  requires  that all  derivative  instruments  be recorded on the
balance sheet at their fair value.  Changes in the fair value of derivatives are
recorded  each  period  in  current  earnings  or  other  comprehensive  income,
depending on whether a derivative is  designated as part of a hedge  transaction
and,  if it is,  the type of hedge  transaction.  To date  the  Company  has not
utilized  derivative  instruments  or hedging  activities  and,  therefore,  the
adoption of SFAS 133 is not expected to have a material  impact on the Company's
financial position or results of operations.

6.   Segment Information
Effective January 1, 1998, the Company adopted Statement of Financial Accounting
Standards No. 131,  "Disclosures  about  Segments of an  Enterprise  and Related
Information"  ("SFAS  131").  SFAS 131,  establishes  standards for the way that
public business  enterprises  report  information  about  operating  segments in
annual financial  statements and requires that those enterprises report selected
information  about  operating  segments in interim  financial  reports.  It also
establishes  standards  for related  disclosures  about  products and  services,
geographic  areas and major  customers.  During  the  periods  presented  in the
consolidated  financial  statements,  the  Company  has  operated  in  only  one
operating segment - Luminescence Technology  development.  Long-lived assets are
principally located in Switzerland.

7. Equity
At  December  31,  1998,  the Company and the  co-inventor  of the  Luminescence
Technology  had agreed in  principle to an  amendment  to their  agreement  that
would,  among other  things,  eliminate an  obligation of the Company to pay the
co-inventor royalties calculated as a percentage of sales of products based upon
the  Luminescence  Technology,  and instead  provide for the  issuance of common
stock of the Company and the making of cash  payments  to said  co-inventor.  On
March 31,  1999,  the  Company and the  co-inventor  entered  into an  agreement
amending  the earlier  royalty  agreement  pursuant to which the Company (i) has
paid the  co-inventor  $33,694 and $25,000 in 1999 and 1998,  respectively,  and
committed  to pay an  additional  $101,306  from  time to time as the  Company's
liquidity  and working  capital  requirements  permit,  and (ii) agreed to issue
800,000  shares of the Company's  common stock to the  co-inventor.  The 800,000
shares of the Company's  common stock were issued on March 31, 1999. The 800,000
shares of the Company's common stock, with a value of $300,000, and the $125,000
were  charged to expense in the three  months  ended  March 31,  1999.  Accounts
payable and accrued expenses at September 30, 1999 include the $101,306.
<PAGE>

8.       Commitments
At December 31, 1998, the Company and its principal supplier, Socol SA ("Socol")
had  agreed   informally  on  terms  for  the  continuation  of  their  on-going
relationship;  and in  September  1999,  the  Company and Socol  entered  into a
definitive  agreement in which the Company agreed to issue  2,500,000  shares of
its common stock to Socol;  and Socol confirmed both (i) its agreement to accept
such shares in full  consideration  for Socol's  participation in and efforts in
connection with the Luminescence Technology, (ii) its disclaimer of any interest
or right in or to the Company's Brightec products,  the Luminescence  Technology
Patent or the  proprietary  information and know how relating to said Patent and
Brightec products,  (iii)its agreement to transfer all know how relating to said
patent and Brightec  products and  proprietary  information  to Lumitech (iv) to
provide certain substances at cost and (v) that there is no exclusivity to Socol
with  regard  to the  manufacturing  of such  substances.  The  Company  has not
reflected the above letter agreement in the consolidated financial statements as
of September 30, 1999 as the shares have not been issued.  As such,  the Company
expects to take a non-cash charge of  approximately  $1.9 million related to the
Socol agreement in the fourth quarter of 1999.

9.       Ability to Continue as a Going Concern
The consolidated  financial  statements have been prepared on the basis that the
Company will continue to operate as a going concern,  including the  realization
of its assets and settlement of its  liabilities at their carrying values in the
ordinary course of business for the foreseeable  future.  At September 30, 1999,
the  Company has yet to  commercially  market  Brightec  and  generate  revenues
therefrom and the Company's operations to date have generated accumulated losses
of $ 2,528,504.  At September 30, 1999, the Company's current liabilities exceed
its current  assets by $ 1,026,782 and the Company had  outstanding  advances of
approximately  $78,560 above the limit available to it under its  line-of-credit
arrangements with a Swiss bank.

In order to  generate  awareness  and future  sales of  Brightec  products,  the
Company  anticipates making  significant  investments in personnel and resources
over the next 12 month  period.  The Company also intends to repay a significant
amount of the Company's debt,  including the bank  line-of-credit.  In addition,
during  1999,  the  Company   intends  to  establish  a  U.S.  based  sales  and
administrative  office, and hire additional employees.  The Company expects that
it may require up to  approximately  $4.0  million of cash or  available  credit
during the next 12 month  period to finance  payment  of  existing  liabilities,
including  the bank  line-of-credit,  purchases of raw  materials  and operating
expenses.  The Company  plans to raise  approximately  $4.5 million in a private
placement of its shares and warrants. In November 1999, the Company successfully
placed a $375,000  unit of its common  stock and  warrants to  purchase  500,000
shares  at $1.00 in the first  placement  of the $4.5  million.  There can be no
assurances  that the  Company  will be able to  raise  the  additional  funds it
requires.
<PAGE>

The  ability  of the  Company  to  continue  to  operate  as a going  concern is
primarily  dependent  upon the  ability of the  Company  to raise the  necessary
financing,  to effectively market and produce Brightec products over the next 12
month period and then upon future  profitable  operations  and the generation of
positive operating cash flows or finding additional financing.  However,  should
the Company fail to raise such funds or the Company's  line-of-credit is reduced
or  terminated  or the  Company  is unable to  generate  operating  profits  and
positive cash flows,  there are no  assurances  that the Company will be able to
continue as a going  concern and it may be unable to recover the carrying  value
of its assets.

Management  believes that the Company will be successful in its efforts to raise
the  additional   financing  required  to  support  the  Company's   operations.
Accordingly,  management  believes that no adjustments or  reclassifications  of
recorded assets and liabilities is required.

<PAGE>

ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS

Factors That May Affect Future Results

         Any  statements  contained  in this  Form  10-Q  that  do not  describe
historical facts,  including without limitation  statements  concerning expected
revenues,  earnings,  product  introductions and general market conditions,  may
constitute forward-looking statements as that

term is defined in the Private  Securities  Litigation  Reform Act of 1995.  Any
such   forward-looking   statements   contained  herein  are  based  on  current
expectations,  but are subject to a number of risks and  uncertainties  that may
cause actual results to differ  materially from  expectations.  The factors that
could cause actual future results to differ materially from current expectations
include the following:  the Company's ability to raise the financing required to
support  the  Company's  operations;  the  Company's  ability to  establish  the
intended  operations;  fluctuations  in demand for the  Company's  products  and
services;  the Company's ability to manage its growth;  the Company's ability to
develop,  market and introduce new and enhanced  products on a timely basis; the
Company's  lack of customers;  the  Company's  dependence on certain sole source
suppliers; and the ability of the Company to compete successfully in the future.
Further  information  on factors that could cause actual  results to differ from
those  anticipated is detailed in various  filings made by the Company from time
to time  with  the  Securities  and  Exchange  Commission.  Any  forward-looking
statements should be considered in light of those factors.

General
The Company is a  developmental  stage company,  which,  through its subsidiary,
Swiss  Lumitech,  has  developed and patented an exclusive new process to create
luminescent  color pictures of photographic  quality,  which can be applied to a
variety of objects in numerous applications (the "Luminescence Technology"). The
Company will market the  Luminescence  Technology and related products under the
brand name `Brightec'.

The Company was incorporated on April 16, 1986 as Hyena Capital,  Inc., a Nevada
corporation.  For the period from  incorporation to August 13, 1998, the Company
had no operations of any kind. On August 13, 1998, the Company  acquired 100% of
the then  outstanding  common  stock of Swiss  Lumitech,  a company  founded  in
Switzerland  on  February  7,  1992,   which  had  developed  and  patented  the
Luminescence Technology.

For  accounting  purposes,  the  acquisition  of Swiss Lumitech was treated as a
purchase  (reverse  acquisition) of the Company by Swiss Lumitech.  Accordingly,
the  following  discussion  reflects the combined  operations of the Company and
Swiss Lumitech from the inception date of Swiss Lumitech.
<PAGE>

The  Company's  current  business  strategy  is to derive  revenues  by granting
licenses to use the Luminescence  Technology,  and more significantly,  from the
subsequent  sale of related  luminescent  substances  and  sheets.  The  Company
intends to grant licenses for a particular  application in a specific geographic
region.  In addition,  the Company intends to sell the related Brightec products
to each licensee.

The Company has not  commenced  commercial  marketing and licensing of Brightec,
but expects these  marketing  activities to commence in the latter half of 1999.
The Company expects to sell both directly and through distributors.  The Company
intends to initially  launch its  operations  in  the United  States,  focusing
primarily on the pre-printed picture and high-quality ink-jet media markets.

The  marketing of Brightec  products is dependent  on the  Company's  successful
raising of capital,  as described in `Liquidity and Capital  Resources - Ability
to Continue as a Going Concern'.  If the Company is unable to successfully raise
such  funds or  market  Brightec  or  manufacture  Brightec  products,  there is
substantial doubt as to the Company's ability to continue as a going concern.

Prior  to  its  acquisition  by  the  Company,  Swiss  Lumitech  engaged  in the
development of the Luminescence Technology and utilized it to develop a range of
luminescent  watches,  which  it  distributed  through  an  affiliated  company,
Lumitech BV ("the Netherlands Affiliate").  Prior to developing the Luminescence
Technology, Swiss Lumitech's operations consisted of unrelated activities.

At  September  30,  1999,  the Company had not begun  commercial  marketing  and
licensing of Brightec and has generated  accumulated losses of $ 2,528,504.  The
Company's  current  liabilities  exceed its current assets by $ 1,026,782.  As a
result of these factors,  the ability of the Company to continue to operate as a
going concern  cannot be predicted at this time and is primarily  dependent upon
the  Company's  ability  to  obtain  the  necessary  financing  to  enable it to
successfully  market Brightec and then upon future  profitable  operations.  See
`Liquidity  and Capital  and Capital  Resources - Ability to Continue as a Going
Concern'.



Results of Operations
Results of Operations for the three months and nine months ended September 30,
1999 compared to the three and nine months ended September30, 1998:

Revenues:
Due to the Company's change in strategy described above, the Company recorded no
revenues  during the three and nine month periods  ended  September 30, 1999 and
1998. The Company  expects future  revenues,  if any, to come from the licensing
the Luminescence Technology, and more significantly, from the subsequent sale of
related luminescent substances and sheets.
<PAGE>

Cost of Sales:
Due to the Company's change in strategy described above, the Company recorded no
cost of sales during the three and nine month periods  ended  September 30, 1999
and 1998.  The Company  expects that future gross  margins,  if any, will result
from the sale of Brightec  products.  Historical  results are not  indicative of
expected future results.

Research and Development Expenses:
Research  and  development  expenses  increased  $36,727  in the  quarter  ended
September  30,  1999,  from  $0 in  the  same  quarter  in  1998.  Research  and
development expenses increased $109,826 in the nine-month period ended September
30,  1999,  from $0 in the  same  period  in  1998.  The  increases  in 1999 are
primarily due to supplies related to the development  efforts to further develop
the luminescence  technology and related Brightec products.  The Company expects
that  research  and  development  expenses  will  continue to increase in dollar
amount as the Company develops new products and applications for the products.

Selling and Marketing Expenses:
Selling and marketing expenses consist primarily of compensation,  marketing and
promotional  materials and an allocation of facility related  expenses.  Selling
and marketing  expenses  increased by $48,367 in the quarter ended September 30,
1999, from $24,134 in the same quarter in 1998.  Selling and marketing  expenses
increased by $115,242 in the nine-month  period ended  September 30, 1999,  from
$43,620 in the same period in 1998. The increases in 1999 in selling expenses is
primarily  attributable  to the addition of personnel in the U.S. in conjunction
with the Company's plan to establish operations in the U.S and expenses incurred
for marketing  materials to support the launch of the Brightec  brand name.  The
Company expects that selling and marketing expenses will continue to increase in
dollar amount as the Company introduces and promotes products.

General and Administrative:
General  and  administrative  expenses  consist  primarily  of  compensation  of
executive  personnel,  legal and accounting  costs and an allocation of facility
related expenses.  General and  administrative  expenses increased by $63,333 in
the  quarter  ended  September  30,  1999 from $0 in the same  quarter  in 1998.
General and administrative  expenses increased $698,775 in the nine-month period
ended  September  30, 1999 from $0 in the same period in 1998.  The  increase in
expenses in 1999 related primarily to the issuance and expense of 800,000 shares
of the  Company's  common  stock,  with a value  of  $300,000,  and  expense  of
$125,000,  related to an  agreement  with the  co-inventor  of the  Luminescence
Technology and the costs of being a public company and the addition of personnel
in the U.S. in conjunction  with the Company's  plan to establish  operations in
the U.S.  The  Company  expects  that,  exclusive  of the costs  related  to the
agreement  with  the  co-inventor,  general  and  administrative  expenses  will
continue  to  increase  in  dollar  amount as a result  of an  expansion  in the
Company's  administrative  staff to support  its  operations  and as a result of
being a public  company.  Also, the Company expects to take a non-cash charge of
approximately $1,875,000 in the fourth quarter related to the 2.5 million shares
to be issued under the Socol agreement. See Note 8 to the Consolidated Financial
Statements - Commitments.
<PAGE>

Liquidity and Capital Resources:
Cash and cash  equivalents  decreased  to  $7,848  at  September  30,  1999 from
$207,938 at December 31, 1998. Net cash used in operating activities in the nine
months ended  September  30, 1999 was  $366,141.  The net cash used in operating
activities  during nine months  ended  September  30, 1999 was  principally  the
result of the net loss of  $991,472,  adjusted  for noncash  expenses  including
$300,000  associated with common stock issued and a decrease in accounts payable
to affiliated companies, partially offset by an increase in accounts payable and
accrued liabilities.

Net cash used in  investing  activities  in the nine months ended  September 30,
 1999 was  approximately  $14,670,  consisting  of capital expenditures for
property and equipment.

Net cash provided by financing activities in the nine months ended September 30,
1999 was approximately $117,196. The net cash provided of $117,196 was primarily
due to an increase in the notes payable to directors.

Ability to Continue as a Going Concern
At September 30, 1999, the Company had not begun to commercially market Brightec
and  generate  revenues  therefrom  and the  Company's  operations  to date have
generated  accumulated losses of $2,528,504.  The Company's current  liabilities
exceed its  current  assets by $ 1,026,782  at  September  30,  1999.  Also,  at
September  30, 1999 the Company  exceeded  the  borrowings  available  under the
line-of-credit  with a Swiss bank by $78,560,  at the September 30, 1999 rate of
exchange.  As of November  18, 1999 the Company has  approximately  $ 100,000 of
funds available.  The Company  believes it has the ability to obtain  additional
funds from its principal  stockholders  or by raising  additional debt or equity
securities as described below.  There can be no assurances that the Company will
be able to raise the funds it requires.

In order to generate  future  revenues from the sale of Brightec  products,  the
Company  anticipates making  significant  investments in personnel and resources
over the next 12 month  period.  The Company also intends to repay a significant
amount of debt, including the bank line-of-credit. In addition, during 1999, the
Company intends to establish a U.S. based sales and  administrative  office, and
hire  additional  employees.  The  Company  expects  that it may  require  up to
approximately  $4.0 million of cash or available credit during the next 12 month
period  to  finance  payment  of  existing   liabilities,   including  the  bank
line-of-credit,  purchases of raw materials and operating expenses.  The Company
is continuing  discussions with institutional  investors in its effort to obtain
additional financing.

The  ability  of the  Company  to  continue  to  operate  as a going  concern is
primarily  dependent  upon the  ability of the  Company  to raise the  necessary
financing,  to effectively  market and produce Brightec  products,  to establish
profitable  operations and to generate  positive  operating  cash flows.  If the
Company  fails to raise funds,  or the  Company's  line-of-credit  is reduced or
terminated,  or the Company is unable to generate operating profits and positive
cash flows, there are no assurances that the Company will be able to continue as
a going  concern  and it may be  unable to  recover  the  carrying  value of its
assets.

In addition to the above mentioned factors,  the Company is presently reliant on
one supplier,  Socol, for certain of the materials used to manufacture  Brightec
products.  Furthermore, Socol is reliant on two other suppliers for the Alkaline
Earth component crucial to Socol's production activities for the Company. Should
Socol, for any reason,  terminate its relationship with the Company,  this would
have a material adverse  short-term  impact on the Company's  ability to produce
Brightec  products and generate  sales.  The inability to obtain  sufficient key
components as required,  or to develop alternative sources could have a material
adverse  effect on the Company's  business,  financial  condition and results of
operations.

The Company plans to raise  approximately $4.5 million in a private placement of
its shares and warrants.  In November  1999, the Company  successfully  placed a
$375,000  unit of its common  stock and warrants to purchase  500,000  shares at
$1.00 in the first  placement of the $4.5  million.  There can be no  assurances
that  the  Company  will be able to raise  the  additional  funds  it  requires.
Accordingly,  management  believes that no adjustments or  reclassifications  of
recorded assets and liabilities are necessary at this time.
<PAGE>

Credit Availability
The Company,  through Swiss Lumitech, has borrowings under a line-of-credit with
a Swiss bank. Pursuant to the terms of the bank line-of-credit,  the Company may
borrow up to $315,000,  at the September 30, 1999 rate of exchange. At September
30, 1999 and 1998,  the Company had exceeded such limit,  but in each  instance,
the bank granted the Company a temporary  extension,  with no stated  expiration
date, to exceed the limit by the bank.  The  line-of-credit  agreement  contains
terms and  conditions,  restricting the Swiss  Lumitech's  ability to pledge its
assets as security for separate borrowings and requiring the payment of interest
each  quarter.  In addition,  any and all accounts  receivable  generated by the
Company  are  automatically  pledged  to the bank  pursuant  to the terms of the
line-of-credit  agreement.  At September 30, 1999, the borrowings under the bank
line-of-credit carries interest at 6.35%. The line-of-credit is guaranteed up to
available borrowings by a relative of certain directors.

Should the Company's line-of-credit be reduced or terminated,  or if the Company
is unable to generate  operating  profits and positive cash flows,  there are no
assurances  that the Company will be able to continue as a going  concern and it
may be unable to recover the carrying value of its assets.

Commitments
At December 31, 1998, the Company and its principal supplier, Socol SA ("Socol")
had  agreed   informally  on  terms  for  the  continuation  of  their  on-going
relationship;  and in  September  1999,  the  Company and Socol  entered  into a
definitive  agreement in which the Company agreed to issue  2,500,000  shares of
its common stock to Socol;  and Socol confirmed both (i) its agreement to accept
such shares in full  consideration  for Socol's  participation in and efforts in
connection with the Luminescence Technology, (ii) its disclaimer of any interest
or right in or to the Company's Brightec products,  the Luminescence  Technology
Patent or the  proprietary  information and know how relating to said Patent and
Brightec products,  (iii)its agreement to transfer all know how relating to said
patent and Brightec  products and  proprietary  information  to Lumitech (iv) to
provide certain substances at cost and (v) that there is no exclusivity to Socol
with  regard  to the  manufacturing  of such  substances.  The  Company  has not
reflected the above letter agreement in the consolidated financial statements as
of September  30, 1999 as the  agreement  has Company  anticipates  finalizing a
definitive Socol agreement during the second or third quarter of 1999.

The Company had no material capital expenditure  commitments as of September 30,
1999.

Effects of Inflation
Management believes that financial results have not been significantly  impacted
by inflation and price changes.

Year 2000
The  Company is  undergoing  a review of its  information  systems,  including a
preliminary assessment of all of its internal and external systems and processes
with  respect  to the Year  2000  issue.  The  Company  plans to test all of its
systems and  processes  (and the  associated  Year 2000  "fixes")  for Year 2000
compliance  during  1999;  and will  initiate  a review of  potential  Year 2000
matters with its significant suppliers (which is expected to be completed by the
end of 1999) to determine  the extent to which the Company is  vulnerable to the
failure of those third parties to remediate their own Year 2000 issues. Although
the actual costs cannot be determined  until the review is completed,  there can
be no  assurance  that the systems of other  companies  will be  converted  on a
timely basis and will not have a  corresponding  adverse effect on the Company's
results of operations.

Euro Currency
The  participating  member countries of the European Union have adopted the Euro
as its common  legal  currency  on January 1, 1999.  At this early  stage of its
assessment the Company cannot predict the impact of the conversion to the Euro.




<PAGE>


ITEM 3  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The  Company  faces  exposure  to  financial  market  risks,  including  adverse
movements  in foreign  currency  exchange  rates and changes in interest  rates.
These exposures may change over time as business practices evolve and could have
a material  adverse  impact on the Company's  financial  results.  The Company's
primary  exposure  has been  related to local  currency  revenue  and  operating
expenses in Europe.  Historically,  the Company has not hedged specific currency
exposures  as gains and losses on foreign  currency  transactions  have not been
material to date.





<PAGE>


                           PART II. OTHER INFORMATION


ITEM 6 EXHIBITS

         (a) Exhibits.

         The following exhibits are filed as part of this report:

         EXHIBIT NUMBER                          DESCRIPTION
         --------------------------           ------------------------

                   27                          Financial Data Schedule



<PAGE>



                              SIGNATURES

Pursuant to the  requirements  of the  Securities  and Exchange Act of 1934, the
Registrant  has duly  caused  this  Report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.

                                          ADVANCED LUMITECH, INC.
Date: November 19, 1999
                                           By: /s/ Patrick Planche
                                           -----------------------------
                                          President, Chief Executive Officer
                                          Principal Financial Officer


<PAGE>


                                INDEX TO EXHIBITS


EXHIBIT NUMBER                              DESCRIPTION
--------------------------            ------------------------

          27                              Financial Data Schedule