UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                  FORM 10-QSB

[x]           QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
              SECURITIES EXCHANGE ACT OF 1934
              For the period ended  - June 30, 1997
        
          				OR

[ ]           TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
       	      SECURITIES EXCHANGE ACT OF 1934
	             For the transition period from

            		Commission file number 0-28772

	                MAS ACQUISITION I CORP.
    (Name of Small Business Issuer in its charter)



                Delaware                                  35-1990559     
    (State or other jurisdiction of                    (I.R.S. Employer
     incorporation or organization                   Identification Number)


     1922 North Bedford Avenue, Evansville, Indiana      47711			
     (Address of principal executive offices)			   	  (Zip Code)

     Registrant's telephone number, including area code: (812) 468-8250

     Securities registered under Section 12(b) of the Act: None

     Securities registered under Section 12(g) of the Act:
     
            Common Stock, $.001 par value per share
                           (Title or class)

     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 [x]   NO [  ]

     As of June 30, 1997, the Registrant has outstanding 8,500,000 shares
     of Common Stock.
 
<PAGE>

                  MAS Acquisition I Corp.

                       Form 10-QSB 

                    Quarterly Report

                     June 30, 1997


PART I.  FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.

<TABLE>
<CAPTION>
(1) Financial Statements    	 		                             Page
<S>                           				                           <C>
     Balance Sheet at June 30, 1997 and
        December 31, 1996 (unaudited)                        F-1
     Statements of Operations for the three months
        and six months ended June 30, 1997 (unaudited)       F-2     
     Statements of Cash Flows for the three months 
        and six months ended June 30, 1997 (unaudited)       F-3 
     Notes to Unaudited Financial Statements                 F-4
</TABLE>
<PAGE>

                            MAS Acquisition I Corp.
                         (A Development Stage Company)
                                 Balance Sheet
                               
<TABLE>
<CAPTION>
                                             June 30,     December 31,
                                              1997           1996
                                            ---------     ------------
<S>                                         <C>           <C>
  ASSETS

Current assets:
  Total current assets                      $    -        $    -
                                            =========     =========
 
LIABILITIES AND STOCKHOLDER'S EQUITY

Commitments and contingencies

Stockholder's equity:
Preferred stock, $.001 par value
   20,000,000 shares authorized
   none issued or outstanding                     -            -
Common stock, $.001 par value,
   80,000,000 shares authorized,
   8,500,000 shares issued and 
   outstanding                                  8,500        8,500
   Deficit accumulated during the
    development stage                          (8,500)      (8,500)
                                             $    -       $    -
                                             =========    =========                     
</TABLE>

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

                                    F-1

<PAGE>

                          MAS Acquisition I Corp.
                       (A Development Stage Company)
                          Statement of Operations

<TABLE>
<CAPTION>
                                        Three Months Ended  Six Months Ended
                                           June 30, 1997     June 30, 1997 
                                              --------           -------                                
<S>                                           <C>                <C>
Revenue                                       $    -             $    -

Costs and expenses:
 General and Administrative                      8,500              8,500


   Net loss                                   $ (8,500)          $ (8,500)
                                              =========          =========

Per share information:

 Weighted average number
 of common shares
 outstanding                                   8,500,000         8,500,000
                                               =========         =========

 Net loss per share                            $   (.00)         $   (.00)
                                               =========         =========
</TABLE>


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

                                    F-2


<PAGE>

                           MAS Acquisition I Corp.
                        (A Development Stage Company)
                           Statement of Cash Flows

<TABLE>
<CAPTION>
                                      Three Months Ended   Six Months Ended
                                         June 30, 1997      June 30, 1997
                                           ---------           ---------  
<S>                                        <C>                 <C>
Cash Flows from Operating Activities:      $ (8,500)           $ (8,500)
  Net loss
Adjustments to reconcile net loss to
 net cash used in operating activities:
  Issuance of common stock for services       8,500               8,500
Total adjustments                             8,500               8,500
Net cash provided by (used in)                  -                   -
   operations                               ---------           ---------

Cash flow from investing activities:
Net cash provided by (used in)
  investing activities                          -                   -
                                            ---------           ---------
Cash Flows From Financing activities:
Net cash provided by (used in)
  financing activities                          -                   -
                                            ---------           ---------
Net increase (decrease) in cash and
  cash equivalents                              -                   -

Beginning cash and cash equivalents             -                   -
Ending cash and cash equivalents            $   -               $   - 
                                            =========           =========
Supplemental cash flow information:

 Cash paid for: Income taxes                $   -               $   -
                Interest                    $   -               $   -
</TABLE>

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

                                    F-3

<PAGE>

                          MAS Acquisition I Corp.
                       (A Development Stage Company)
                       Notes to Financial Statements

Note 1. ORGANIZATION

The Company was incorporated on July 31, 1996, in the State of Delaware. The
Company is in the development stage and its intent is to locate suitable 
business ventures to acquire. The Company has had no significant business 
activity to date and has chosen December 31, as a year end.

        SIGNIFICANT ACCOUNTING POLICIES

Net loss per share

The net loss per share is computed by dividing the net loss for the period by 
the weighted average number of common shares outstanding for the period. Common 
stock equivalents are excluded from the computation as their effect would be 
anti-dilutive. Shares issued at inception are considered to be outstanding for 
the entire period presented.

Cash and cash equivalents

Cash and cash equivalents consist of cash and other highly liquid debt 
instruments with an original maturity of less than three months.

Note 2. STOCKHOLDERS' EQUITY

At inception the Company issued 8,500,000 shares of its $.001 par value common 
stock for services valued at their fair market value of $8,500.

Note 3. INCOME TAXES

Deferred income taxes may arise from temporary differences resulting from income
and expense items reported for financial accounting and tax purposes in 
different periods. Deferred taxes are classified as current or non-current, 
depending on the periods in which the temporary differences are expected to 
reverse. The deferred tax asset related to the operating loss carryforward has 
been fully reserved.

The Company currently has net operating loss carryforwards aggregating 
approximately $8,500 which expire in 2011.

                                    F-4  

<PAGE>

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

  The following discussion should be read in conjuction with the
information contained in the financial statements of the Company
and the Notes thereto appearing elsewhere herein.

Results of Operations - July 31, 1996 (Inception) through June 30, 1997.

  The Company is considered to be in the development stage as defined
in Statement of Financial Accounting Standards No. 7. There have been
no operations since inception.

Liquidity and Capital Resources.

  The Company has no cash as of June 30, 1997.

<PAGE>

Part II.  OTHER INFORMATION

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

  The Company did not file any reports on Form 8-K during the
quarter ended June 30, 1997.

<PAGE>  


SIGNATURES

	 Pursuant to the requirements of Section 13 or 15(d) 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.



MAS ACQUISITION I CORP.
												

                            
Date: July 16, 1997      

                           By: /s/ Aaron Tsai
                               ----------------------------------
                  	    					   Aaron Tsai
																	              President, Chief Executive Officer
						                         Treasurer and Director

Date: July 16, 1997

                           By: /s/ Chia-Lun Tsai
                               ----------------------------------
                               Chia-Lun Tsai
                               Vice President and Director
                           

<PAGE>