UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                    FORM 10-Q

(Mark One)

XX           QUARTERLY  REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
             AND EXCHANGE ACT OF 1934 For the  quarterly  period ended March 31,
             2000
                                       OR
             TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
             OF THE SECURITIES AND EXCHANGE ACT OF 1934

                         Commission File Number 0-22291


                     COMMODORE SEPARATION TECHNOLOGIES, INC.
                     --------------------------------------
             (Exact name of Registrant as specified in its charter)


              DELAWARE                                    11-3299195
              --------                                    ----------
(State or other jurisdiction of                (I.R.S. Employer Identification
 incorporation or organization)                              Number)


    3240 Town Point Drive, Suite 200
          Kennesaw, Georgia                                        30144
          -----------------                                        ------
(Address of Principal Executive Offices)                          (Zip Code)


        Registrant's telephone number, including area code (770) 422-1518
                                                           --------------


    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 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


    Number  of  shares  of common  stock  outstanding  at April 7, 2000  (latest
practicable date):

                       Issued and Outstanding: 11,583,575
                                               ----------







<PAGE>



                      COMMODORE SEPARATION TECHNOLOGIES,INC

                                    FORM 10-Q


                                      INDEX





                                                                   PAGE
                                                                   ----


PART I.      FINANCIAL INFORMATION
             ---------------------


Item 1.      Financial Statements (Unaudited)


             Condensed Balance Sheets -
               March 31, 2000 and December 31, 1999...............   4


             Condensed Statement of Operations -
               Three months ended March 31, 2000 and 1999.........   5

             Condensed Statement of Cash Flows -
                      Three months ended March 31, 2000 and
               March 31, 1999.....................................   6


             Notes to Condensed Financial Statements..............   7


Item 2.      Management's Discussion and Analysis of Financial
                  Condition and Results of Operations.............   8


PART II.     OTHER INFORMATION ...................................  13
--------     -----------------


SIGNATURES .......................................................  14







<PAGE>



                       PART I - FINANCIAL INFORMATION


ITEM 1:  Financial Statements


                     COMMODORE SEPARATION TECHNOLOGIES, INC.

                            CONDENSED BALANCE SHEETS

                  (Dollars in Thousands, Except Per Share Data)

<TABLE>
<CAPTION>

                                                                            March 31,     December 31,
                                                                               2000          1999
                                                                         ------------     ------------
                                                                           (unaudited)

<S>                                                                      <C>              <C>

ASSETS

Cash and cash equivalents                                                $          3     $         16
Restricted cash                                                                   220              220
Accounts receivable, net                                                           10               10
Inventory, net                                                                    519              519
Prepaid assets and other current assets                                             -                -
                                                                         ------------     ------------

             TOTAL CURRENT ASSETS                                                 752              765

Property and equipment ,net                                                       852              963
Intangible assets, net                                                            184              180
                                                                         ------------     ------------

          TOTAL ASSETS                                                   $      1,788     $      1,908
                                                                         ============     ============



</TABLE>





















                                        3

<PAGE>




                     COMMODORE SEPARATION TECHNOLOGIES INC.

                            CONDENSED BALANCE SHEETS

                  (Dollars in Thousands, Except Per Share Data)
<TABLE>
<CAPTION>

                                                                            March 31,     December 31,
                                                                               2000          1999
                                                                         ------------     ------------
                                                                           (unaudited)

<S>                                                                      <C>              <C>

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities:
  Accounts payable                                                       $        307     $        352
  Accrued expenses                                                                108               78
  Unearned revenue                                                                263              263
  Due to related parties                                                        1,153              896
                                                                         ------------     ------------

             TOTAL CURRENT LIABILITIES                                          1,831            1,589

Accrued dividends                                                               1,070              916
                                                                         ------------     ------------

             TOTAL LIABILITIES                                                  2,901            2,505

Commitments and contingencies                                                       -                -

Stockholders' Equity:
  Preferred stock, Series A, $.001 par
    value, authorized 750,000, issued and
    outstanding 598,000 and 600,000                                                 1                1
  Preferred stock, Series B, $.001 par
    value, authorized 4,000, issued and
    outstanding 3,570                                                               -                -
  Common stock, par value $.01 per share
    authorized 50,000,000 and shares
    issued and outstanding 11,520,908 and
    11,515,575                                                                     11               11
  Additional paid in capital                                                   10,650           10,804
  (Deficit)                                                                   (11,775)         (11,413)
                                                                         ------------     ------------

             TOTAL STOCKHOLDERS' EQUITY                                        (1,113)            (597)
                                                                         ------------     ------------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                               $      1,788     $      1,908
                                                                         ============     ============

</TABLE>


                  See notes to condensed financial statements.






                                        4

<PAGE>




                     COMMODORE SEPARATION TECHNOLOGIES, INC.

                       CONDENSED STATEMENTS OF OPERATIONS

                  (Dollars in Thousands, Except Per Share Data)
<TABLE>
<CAPTION>


                                                                               Three months ended
                                                                                   March 31,
                                                                               2000            1999
                                                                         ------------     ------------
                                                                                  (unaudited)
<S>                                                                      <C>              <C>

REVENUES

  Contract revenues                                                      $          8     $        264

COSTS AND EXPENSES
  Cost of sales                                                                    40              319
  Research and development                                                         65               90
  General and administrative                                                      146              149
  Depreciation and amortization                                                   114              129
  Sales and marketing expense                                                       5                4
                                                                         ------------     ------------
                                                                                  370              691
                                                                         ------------     ------------
                                                                                 (362)            (427)

Interest income                                                                                      8
                                                                         ------------     ------------

NET LOSS                                                                 $     (  362)    $       (419)
                                                                         ============     ============


NET LOSS PER SHARE  (Based on
  weighted average shares of
  11,516,000)*                                                           $       (.03)    $       (.04)

</TABLE>


*  Common  stock  equivalents  are  not  included  in the  net  loss  per  share
calculation since they are antidilutive.









                  See notes to condensed financial statements.






                                        5

<PAGE>



                     COMMODORE SEPARATION TECHNOLOGIES, INC.

                       CONDENSED STATEMENTS OF CASH FLOWS

                  (Dollars in Thousands, Except Per Share Data)

<TABLE>
<CAPTION>


                                                                               Three months ended
                                                                                   March 31,
                                                                               2000            1999
                                                                         ------------     ------------
                                                                                  (unaudited)
<S>                                                                      <C>              <C>

OPERATING ACTIVITIES
  Net (loss)                                                             $       (362)    $       (419)
   Adjustments to reconcile net (loss) to net
    cash provided by operating activities:
      Depreciation and amortization                                               114              129
       Issuance of common stock
   Changes in assets and liabilities:
      Accounts payable                                                            (45)              92
      Accrued liabilities                                                          30              (40)
      Unearned revenue                                                                            (187)
      Inventory                                                                                    267
      Accounts receivable                                                                          (15)
      Receivables from related party
      Other assets                                                                                   1
                                                                         ------------     ------------
             NET CASH USED IN OPERATING ACTIVITIES                               (263)            (172)
                                                                         ------------     ------------

INVESTING ACTIVITIES
  Purchase and construction of equipment                                            -                -
  Acquisition of intangible assets                                                 (7)              (7)
                                                                         ------------     ------------
             NET CASH USED IN INVESTING ACTIVITIES                                 (7)              (7)
                                                                         ------------     ------------

FINANCING ACTIVITIES
  Borrowings from stockholder                                                     257                -
  Decrease in capital lease obligation                                                              (2)
                                                                         ------------     ------------
         NET CASH USED IN FINANCING ACTIVITIES                                    257               (2)
                                                                         ------------     ------------

INCREASE (DECREASE) IN CASH                                                       (13)            (181)

  Cash at beginning of period                                                      16              209
                                                                         ------------     ------------

CASH AT END OF PERIOD                                                    $          3     $         28
                                                                         ============     ============
</TABLE>


                  See notes to condensed financial statements.



                                        6

<PAGE>



                     COMMODORE SEPARATION TECHNOLOGIES, INC.

               NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

                                 March 31, 2000


Note A - Basis of Presentation

    The  accompanying  unaudited  condensed  financial  statements for Commodore
Separation  Technologies,  Inc. (the "Company") have been prepared in accordance
with generally accepted accounting  principles for interim financial information
and with the  instructions  to Form 10-Q and Article 10 of  Regulation  S-X. The
financial statement  information was derived from unaudited financial statements
unless  indicated  otherwise.  Accordingly,  they  do  not  include  all  of the
information and footnotes required by generally accepted  accounting  principles
for complete financial statements.

    In  the  opinion  of  management,  all  adjustments  (consisting  of  normal
recurring  accruals)  considered  necessary  for a fair  presentation  have been
included.  Operating results for the three month period ended March 31, 2000 are
not  necessarily  indicative  of the results  that may be expected  for the year
ended December 31, 2000.

    The  accompanying  unaudited  condensed  consolidated  financial  statements
should be read in conjunction with the Company's  audited  financial  statements
included in the Company's 10-K annual report dated December 31, 1999.

    The Company was  incorporated  on November 15,  1995,  under the laws of the
State of  Delaware.  The  Company  is a  process  technology  company  which has
developed and continue  commercializing  its separation  technology and recovery
system,  known as SLiM  (TM).  The  Company  believes  SLiM (TM) is  capable  of
effectively  separating and extracting  solubilized  materials.  The Company has
been awarded its first  commercial  contracts in November 1997 and February 1998
and has commenced operations on one contract in March 1999 and plans to commence
operations on the second contract in May 2000.

    On September 29, 1998,  Commodore  Applied  Technologies,  Inc.  ("Applied")
transferred its 87% ownership in the Company to Commodore Environmental Services
LLC ("LLC"), a wholly-owned subsidiary of Commodore Environmental Services, Inc.
("Environmental")  in connection  with a debt  restructuring  agreement  between
Applied and Environmental.

B - Contingencies

    The Company has no outstanding matters of litigation as of April 7, 2000.



                                        7

<PAGE>



ITEM 2.      Management's Discussion and Analysis of Financial
             Condition and Results of Operation
             ----------------------------------

General
-------

     The Company organized in November 1995, has since its inception developed a
strategic  operating  plan,  hired  personnel to implement its  operating  plan,
engineered and built  commercial  scale  supported  liquid  membrane  processing
units,  conducted on-site  demonstrations for potential  customers and commenced
operations at its first installations.

    The Company is  beginning to develop an operating  history,  but  operations
have been limited to the commencement of its first commercial  contracts.  Until
the  operating  history  matures,  the Company is subject to all of the business
risks associated with a new enterprise,  such as the risks of unforeseen capital
requirements,  market acceptance,  and competitive  disadvantages against larger
and more established  companies.  During the period from November 15, 1995 (date
of  inception)  to March  31,  2000,  the  Company  has  incurred  a net loss of
$11,767,000 and anticipates that it may continue to incur significant losses for
the foreseeable future.  There is no assurance as to whether or when the Company
will generate material revenues or profits.


Results from Operations
-----------------------

     Revenues  were $8,000 for the three months ended March 31, 2000 compared to
$264,000 for the three months ended March 31, 1999.  Such revenues for 1999 were
primarily  due to the  Company's  commencement  of  operations  at the  Port  of
Baltimore Hawkins Point project. Revenue under such contract was recorded as the
contract has commenced operations.

    For the three months ended March 31, 2000, the Company had incurred  $38,000
in cost of sales  relating  to the Port of  Baltimore  Contracts.  For the three
months  ended  March 31,  1999,  the  Company had  incurred  $319,000  primarily
relating to cost of sales  relating to the Port of  Baltimore  contracts.  These
costs include  labor,  fringes,  subcontractor  costs,  travel  costs,  material
purchases and cost of equipment sold to the customer.

    For the three months ended March 31, 2000, the Company incurred research and
development costs of $65,000,  as compared to $90,000 for the three months ended
March 31, 1999.  Research and development  costs include  salaries,  wages,  and
other related costs of personnel engaged in research and development activities,

                                        8

<PAGE>



contract services and materials, test equipment and rent for facilities involved
in research  and  development  activities.  Research and  development  costs are
expensed when incurred, except those costs related to the design or construction
of an asset having an economic  useful  life,  which are  capitalized,  and then
depreciated  over  the  estimated  useful  life  of  the  asset.   Research  and
development  decreased  for the three months ended March 31, 2000 as compared to
the three  months  ended  March 31, 1999  primarily  due to cutbacks in order to
preserve capital.

    General and  administrative  expenses  for the three  months ended March 31,
2000 were  $146,000 as compared to $148,000 for the three months ended March 31,
1999. The results are comparable.

    Depreciation and  amortization  decreased from $129,000 for the three months
ended March 31, 1999 to $114,000 for the three months ended March 31, 2000. This
is a direct result of some of the Company's equipment being fully depreciated in
1999.

    The Company  had a net loss of $362,000  for the  three-month  period  ended
March 31, 2000 as compared to a net loss of $419,000 for the three-month  period
ended March 31, 1999.  The  decreased  net loss is  attributable  to the various
revenue and expense items in the individual paragraphs above.


Liquidity and Capital Resources
-------------------------------

    The Company has a working capital deficit of $1,079,000 on March 31, 2000 as
compared to a working  capital deficit of $824,000 at the beginning of the year.
The  decrease  in working  capital  is  primarily  attributable  to the net loss
incurred  during the first quarter of 2000 less  depreciation  and  amortization
expenses.

    The  Company  continues  to be  dependent  upon  financing  through  outside
sources.  There can be no assurance that such financing will be available or, if
available,  that it will be on terms  satisfactory to the Company.  In the event
such external financing is not available on terms acceptable to the Company, the
Company may be able to obtain interim financing from Environmental. There can be
no  assurances,  however,  that the Company will be able to obtain any financing
from Environmental.


Net Operating Losses
--------------------

    At March 31, 2000, the Company had tax loss  carryforwards  of approximately
$11,700,000.  The amount of and  ultimate  realization  of benefit  from the net
operating loss for income tax purposes is dependant,  in part, upon the tax laws
in effect,  future earnings of the Company, and other future events, the effects

                                        9

<PAGE>



of which cannot be  determined.  A change in ownership of the Company may reduce
the amount of loss allowable.  These net operating carryforwards begin to expire
in  2011.  A full  valuation  allowance  has  been  established  because  of the
uncertainty  about whether the Company will realize the benefit of net operating
losses.


Forward-Looking Statements
--------------------------

    Certain  matters  discussed  in this  Annual  Report are  "forward-  looking
statements" intended to qualify for the safe harbors from liability  established
by Section 27A of the Securities Act and Section 21E of the Securities  Exchange
Act of 1934, as amended (the "Exchange Act"). These  forward-looking  statements
can generally be  identified  as such because the context of the statement  will
include words such as the Company "believes,"  "anticipates," "expects" or words
of similar  import.  Similarly,  statements  that describe the Company's  future
plans, objectives or goals are also forward-looking  statements. Such statements
may address  future  events and  conditions  concerning,  among other things the
Company's  results of operations and financial  condition;  the  consummation of
acquisition and financing  transactions  and the effect thereof on the Company's
business;  capital  expenditures;   litigation;   regulatory  matters;  and  the
Company's  plans and objective for future  operations  and  expansion.  Any such
forward- looking statements would be subject to the risks and uncertainties that
could cause actual results of  operations,  financial  condition,  acquisitions,
financing transactions,  operations, expenditures, expansion and other events to
differ  materially  from those  expressed  or  implied  in such  forward-looking
statements. Any such forward- looking statements would be subject to a number of
assumptions  regarding,  among other things,  future  economic,  competitive and
market  conditions  generally.  Such  assumptions  would be  based  on  factsand
conditions  as they  exist  at the  time  such  statements  are  made as well as
predictions as to future facts and conditions,  the accurate prediction of which
may be  difficult  and involve the  assessment  of events  beyond the  Company's
control.  Furthermore,  the  Company's  business is subject to a number of risks
that  would  affect  any  such  forward-looking  statements.   These  risks  and
uncertainties  include,  but are not  limited  to, the ability of the Company to
commercialize its technology;  product demand and industry pricing;  the ability
of the Company to  commercialize  its  technology;  product  demand and industry
pricing;  the  ability  of  the  Company  to  obtain  patent  protectionfor  its
technology;  developments  in  environmental  legislation  and  regulation;  the
ability of the Company to obtain future  financing on favorable terms; and other
circumstances   affecting   anticipated  revenue  and  costs.  These  risks  and
uncertainties  could cause  actual  results of the Company to differ  materially
from those projected or implied by such forward-looking statements.




                                       10

<PAGE>



                           PART II - OTHER INFORMATION

ITEM 1.               Legal Proceedings

                      There have been no material legal proceedings to which
the Company is a party which have not been  disclosed  in previous  filings with
the Securities and Exchange Commission. There are no material developments to be
reported in any previously reported legal proceeding.

ITEM 6.               Exhibits and Reports on From 8-K

                      Exhibits -

27 - Financial Data Schedule

                      Reports on Form 8-K - None










                                       11

<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.




                                         COMMODORE SEPARATION TECHNOLOGIES, INC.
                                         (Registrant)



                                         By -----------------------------------
                                         James M. DeAngelis - Vice President

                                         (As both a duly authorized
                                         Officer of the Registrant
                                         and the Chief Accounting
                                         Officer of the Registrant)










Date:   April 7, 2000



                                       12