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 quarterly period ended October 31, 1999

                                       OR

          ( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934
                        FOR THE TRANSITION PERIOD FROM TO

                         COMMISSION FILE NUMBER: 1-4338

                              EAC INDUSTRIES, INC.
             (Exact name of registrant as specified in its charter)

<TABLE>
<CAPTION>
<S>                                                                         <C>
           NEW YORK                                                         21-0702336
(State or other jurisdiction of                               (I.R.S. Employer Identification No.)
incorporation or organization)
</TABLE>

                       2111 CLARIDGE LANE, NORTHBROOK, IL
                 60062 (Address of principal executive offices)
                                   (Zip Code)

                                  (847)509-8657
                (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 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

     Indicate the number of shares  outstanding of each of the issuer's  classes
of common stock, as of the latest practicable date.
<TABLE>
<CAPTION>

<S>                                                                    <C>
                  CLASS                                                OUTSTANDING AT OCTOBER 31, 1999
--------------------------------------------------------------         -------------------------------------------------
Common Stock, par value $.10 per share                                 2,885,521 shares
</TABLE>
<PAGE>
                                                                         Page 2.

                                    - INDEX -
<TABLE>
<CAPTION>

                                                                                                                    PAGE(S)

PART I.        Financial Information:

ITEM 1.        Financial Statements
<S>            <C>                                                                                                    <C>
               Consolidated Condensed Balance Sheets - October 31, 1999 (Unaudited)
               and January 31, 1999                                                                                   3.

               Consolidated Condensed Statements of Operations (Unaudited) -
               Three and Nine Months Ended October 31, 1999 and 1998                                                  4.

               Consolidated Condensed Statements of Cash Flows (Unaudited) -
               Nine Months Ended October 31, 1999 and 1998                                                            5.

               Notes to Interim Consolidated Condensed Financial Statements (Unaudited)                               6.

ITEM 2.        Management's Discussion and Analysis or Plan of Operation                                              8.

PART II.       Other Information                                                                                     11.

SIGNATURES                                                                                                           12.

EXHIBITS:

               Exhibit 27 - Financial Data Schedule

</TABLE>
<PAGE>
                                                                         Page 3.

PART I.  FINANCIAL INFORMATION:

ITEM I.  FINANCIAL STATEMENTS:

                      EAC INDUSTRIES, INC. AND SUBSIDIARIES
                      CONSOLIDATED CONDENSED BALANCE SHEETS
<TABLE>
<CAPTION>

                                   - ASSETS -

                                                                                                OCTOBER 31,         January 31,
                                                                                                   1999                  1999
                                                                                                (UNAUDITED)

CURRENT ASSETS:

<S>                                                                                            <C>                 <C>
    CASH                                                                                       $     623,688       $    467,910
    Notes and accounts receivable - net of allowance for doubtful accounts
      OF $20,000 AT OCTOBER 31, AND JANUARY 31, 1999, RESPECTIVELY                                   155,651            180,161
    INVENTORIES                                                                                       78,684             60,041
    PREPAID EXPENSES                                                                                  29,934             20,878
    DUE FROM BUYER (NOTE 2)                                                                          110,000            -
    NET ASSETS OF DISCONTINUED OPERATIONS (NOTE 2)                                                   -                  206,135
                                                                                        --------------------      -------------

TOTAL CURRENT ASSETS                                                                                 997,957            935,125
                                                                                              --------------      -------------

PROPERTY, PLANT AND EQUIPMENT, NET                                                                   216,961            224,885
                                                                                              --------------      -------------

OTHER ASSETS:

    DUE FROM BUYER (NOTE 2)                                                                           60,000            -
    COSTS IN EXCESS OF NET ASSETS ACQUIRED - NET                                                     151,830            162,621
    OTHER ASSETS                                                                                       4,404              4,404
                                                                                            ----------------    ---------------
                                                                                                     216,234            167,025
                                                                                              --------------      -------------

                                                                                                $  1,431,152        $ 1,327,035
                                                                                                ============        ===========

                    - LIABILITIES AND SHAREHOLDERS' EQUITY -

CURRENT LIABILITIES:

    ACCOUNTS PAYABLE                                                                           $     170,025       $    143,899
    ACCRUED EXPENSES                                                                                 264,332            319,353
    LONG-TERM LIABILITIES - CURRENT PORTION                                                           19,160             26,142
                                                                                             ---------------     --------------

TOTAL CURRENT LIABILITIES                                                                            453,517            489,394
                                                                                              --------------      -------------

LONG-TERM LIABILITIES - NET OF CURRENT PORTION                                                       151,789            158,520
                                                                                              --------------      -------------

COMMITMENTS AND CONTINGENCIES  (NOTE 4)

SHAREHOLDERS' EQUITY:

    Common stock, $.10 par value; 20,000,000 shares authorized, 2,892,819
      SHARES ISSUED AT OCTOBER 31, AND JANUARY 31, 1999                                              289,282            289,282
    CAPITAL IN EXCESS OF PAR VALUE                                                                10,546,048         10,546,048
    ACCUMULATED DEFICIT                                                                           (9,960,882)       (10,107,607)
                                                                                               -------------       ------------
                                                                                                     874,448            727,723
    Less: Common stock in treasury, 7,298 shares at cost at
          OCTOBER 31, AND JANUARY 31, 1999                                                           (48,602)           (48,602)
                                                                                             ---------------     --------------
                                                                                                     825,846            679,121
                                                                                              --------------      -------------

                                                                                                $  1,431,152        $ 1,327,035
                                                                                                ============        ===========
</TABLE>

  The accompanying notes are an integral part of these consolidated statements.
<PAGE>
                                                                         Page 4.

                      EAC INDUSTRIES, INC. AND SUBSIDIARIES
                 CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)
<TABLE>
<CAPTION>

                                                                  For The Three Months                 For The Nine Months
                                                                    ENDED OCTOBER 31                      OCTOBER 31,
                                                                   ------------------                    --------------
                                                                  1999              1998              1999               1998
                                                              -----------       -----------      ------------       ----------

<S>                                                              <C>             <C>               <C>              <C>
NET SALES                                                        $ 384,620       $  362,802        $1,139,368       $1,141,673
                                                                 ---------       ----------        ----------       ----------
COSTS AND EXPENSES:

    COST OF PRODUCTS SOLD                                          238,960          252,416           726,319          796,907
    SELLING, GENERAL AND ADMINISTRATIVE EXPENSES                   161,395          207,561           479,501          593,542
                                                                ----------      -----------      ------------      -----------
TOTAL COSTS AND EXPENSES                                           400,355          459,977         1,205,820        1,390,449
                                                                ----------      -----------       -----------       ----------

OPERATING (LOSS)                                                   (15,735)         (97,175)          (66,452)        (248,776)
                                                               -----------     ------------     -------------        ---------

OTHER INCOME (EXPENSES):

    INTEREST EXPENSE                                                (1,220)          (1,715)           (4,050)         (24,257)
    INTEREST AND OTHER INCOME                                       13,043            1,928            34,511            6,639
                                                               -----------    -------------     -------------    -------------
                                                                    11,823              213             30,461         (17,618)
                                                               -----------       ----------      -------------    ------------

INCOME (LOSS) BEFORE INCOME TAXES                                   (3,912)         (96,962)          (35,991)        (266,394)

    INCOME TAXES, NET OF OPERATING LOSS CARRYFORWARD                  -                -               -                    -
                                                          ---------------- ---------------- -----------------     ------------

INCOME (LOSS) FROM CONTINUING OPERATIONS                            (3,912)         (96,962)          (35,991)        (266,394)
                                                              ------------      -----------      ------------      -----------

DISCONTINUED OPERATIONS (NOTE 2):

    (Loss) from operations of discontinued subsidiaries
        - NET OF TAXES                                             (22,766)         (29,964)          (57,502)        (131,029)
    Gain on disposal of operating assets of
        DISCONTINUED SUBSIDIARY - NET OF TAXES                      -                56,505           240,218          289,505
                                                           ---------------      -----------          --------      -----------
                                                                   (22,766)          26,541           182,716          158,476
                                                                  --------      -----------          --------      -----------


NET INCOME (LOSS)                                               $  (26,678)      $  (70,421)      $   146,725       $ (107,918)
                                                                ==========       ==========       ===========       ==========

BASIC AND DILUTED INCOME (LOSS)
    PER SHARE (NOTE 3):
       CONTINUING OPERATIONS                               $      -       $         (.03)   $        (.01)   $         (.09)
       DISCONTINUED OPERATIONS                                     (.01)             .01              .06               .05
                                                         --------------  ---------------   --------------   ---------------
                                                                $  (.01)  $         (.02)   $         .05    $         (.04)
                                                                =======   ==============    =============    ==============


WEIGHTED AVERAGE COMMON SHARES
    OUTSTANDING                                                  2,885,521        2,885,521         2,885,521        2,846,147
                                                                 =========        =========         =========        =========

</TABLE>
  The accompanying notes are an integral part of these consolidated statements.
<PAGE>
                                                                         Page 5.

                      EAC INDUSTRIES, INC. AND SUBSIDIARIES
                 CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)
<TABLE>
<CAPTION>

                                                                                                           For The Nine Months
                                                                                                              ENDED OCTOBER 31,
                                                                                                         1999                1998

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS:

CASH FLOWS FROM OPERATING ACTIVITIES:

<S>                                                                                                    <C>              <C>
    NET INCOME (LOSS)                                                                                  $ 146,725        $ (107,918)
    Adjustments to reconcile net income (loss) to cash used by operating activities:
       DEPRECIATION AND AMORTIZATION                                                                      35,098            42,431
       GAIN ON SALE OF ASSETS                                                                           (240,218)         (289,505)
    Change in assets and liabilities:

       DECREASE IN ACCOUNTS AND NOTES RECEIVABLE                                                          24,510           143,520
       (INCREASE) IN INVENTORIES                                                                         (18,643)          (15,852)
       DECREASE (INCREASE) IN PREPAID EXPENSES AND OTHER ASSETS                                            1,705            (5,629)
       (Decrease) in accounts payable, accrued expenses
          AND ACCRUED INCOME TAXES                                                                       (12,552)         (113,435)
       NET CASH FLOW FROM DISCONTINUED OPERATIONS                                                         13,123            70,110
                                                                                                         -------           -------
         NET CASH (USED) BY OPERATING ACTIVITIES                                                         (50,252)         (276,278)
                                                                                                      ----------       -----------

CASH FLOWS FROM INVESTING ACTIVITIES:

    PROCEEDS FROM SALE OF ASSETS                                                                         230,000           311,750
    CAPITAL EXPENDITURES                                                                                 (19,257)          (27,678)
                                                                                                     -----------          --------
         NET CASH PROVIDED BY INVESTING ACTIVITIES                                                       210,743           284,072
                                                                                                      ----------          --------

CASH FLOWS FROM FINANCING ACTIVITIES:

    Net proceeds from sale of common stock                                                               -                 101,019
    PAYMENTS OF LONG-TERM DEBT                                                                            (4,713)          (50,945)
                                                                                                    ------------       -----------
         NET CASH (USED) PROVIDED BY FINANCING ACTIVITIES                                                 (4,713)           50,074
                                                                                                    ------------      ------------


NET INCREASE IN CASH AND CASH EQUIVALENTS                                                                155,778            57,868

CASH AND CASH EQUIVALENTS, AT BEGINNING OF YEAR                                                          467,910           450,031
                                                                                                      ----------       -----------

CASH AND CASH EQUIVALENTS, AT END OF PERIOD                                                            $ 623,688       $   507,899
                                                                                                       =========       ===========


</TABLE>
  The accompanying notes are an integral part of these consolidated statements.
<PAGE>
                                                                         Page 6.

                      EAC INDUSTRIES, INC. AND SUBSIDIARIES
          NOTES TO INTERIM CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                                   (UNAUDITED)

NOTE   1   -    BASIS OF PRESENTATION:

                In the opinion of management, the accompanying unaudited interim
                consolidated  condensed financial  statements of EAC Industries,
                Inc.  (the   "Company")  and  its   subsidiaries,   contain  all
                adjustments  necessary  (consisting of normal recurring accruals
                or adjustments  only) to present fairly the Company's  financial
                position as of October 31,1999 and the results of its operations
                for the three and nine month  periods ended October 31, 1999 and
                1998,  and its cash  flows  for the  nine  month  periods  ended
                October 31, 1999 and 1998.

                The accounting policies followed by the Company are set forth in
                Note  3  to  the  Company's  consolidated  financial  statements
                included  in its  Annual  Report on Form  10-KSB/A  for the year
                ended  January  31,  1999,  which  is  incorporated   herein  by
                reference.  Specific  reference  is made to  this  report  for a
                description  of  the  Company's  securities  and  the  notes  to
                consolidated financial statements.

                The results of  operations  for the three and nine month periods
                ended  October 31, 1999 are not  necessarily  indicative  of the
                results to be expected for the full year.

NOTE   2   -    DISCONTINUED OPERATIONS:

                On  March  1,  1999,  the  Company  completed  the  sale  of the
                operating assets of Goodren Products Corporation (AGoodren@) for
                a price of $400,000  plus the  assumption  of all trade  payable
                liabilities.  The payment terms are as follows:  (i) $200,000 at
                closing,  (ii)  $30,000 to be paid 180 days after  closing  plus
                interest  accrued  at an annual  rate of 7% (iii)  $50,000 to be
                paid 360 days after closing plus  interest  accrued at an annual
                rate of 7%, (iv) $60,000 to be paid 540 days after  closing plus
                interest  accrued at an annual rate of 7% (v) $60,000 to be paid
                720 days after closing plus  interest  accrued at an annual rate
                of 7%.

                In June 1998,  the Company  completed the sale of  substantially
                all of the assets of Goodren Label Corporation  (formerly Athena
                Packaging   Inc.)  for  an  aggregate  sale  price  of  $277,000
                including  inventory valued at the lower of cost or market.  The
                full sales price was paid in cash at closing.

                Certain  reclassifications  have been made to the 1998 financial
                statements in order to conform to the 1999  presentation.  These
                reclassifications   relate  to  the  disposition  of  assets  as
                disclosed above.

                The  accompanying  financial  statements  have been presented to
                reflect the results of the discontinued subsidiaries separately.
                The  following  is a summary  of the  results of  operations  of
                Goodren  and Athena for the periods  ended  October 31, 1999 and
                1998.
<TABLE>
<CAPTION>

                                                                 FOR THE NINE MONTHS ENDED OCTOBER 31,
                                                                    1999                         1998

                Goodren Products Corp.:

<S>                                                                 <C>                     <C>
                       Revenues                                     $181,928                $2,000,204
                       Income (loss) from operations                 (36,546)                   48,155
                       Gain on sale of assets                        240,218                   -
                       Net income                                    203,672                    48,155
                       Income per share                             $.07                       $.02
</TABLE>
<PAGE>
                                                                         Page 7.

                      EAC INDUSTRIES, INC. AND SUBSIDIARIES
          NOTES TO INTERIM CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                                   (UNAUDITED)

NOTE   2   -    DISCONTINUED OPERATIONS (CONTINUED):
<TABLE>
<CAPTION>

                                                                    FOR THE NINE MONTHS ENDED OCTOBER 31,
                                                                      1999                         1998

                Goodren Label Corp. (Athena):

<S>                                                             <C>                           <C>
                       Revenues                                 $     -                       $414,708
                       Loss from operations                          (20,956)                 (179,184)
                       Gain on sale of assets                         -                        289,505
                       Net income (loss)                             (20,956)                  110,321
                       Income (loss) per share                      $(.01)                     $.04
</TABLE>


NOTE   3   -    EARNINGS (LOSS) PER SHARE:

                Earnings  per  share  has  been  computed  on the  basis  of the
                weighted average number of common shares outstanding during each
                period presented,  in accordance with the provisions of SFAS No.
                128.

NOTE   4   -    CONTINGENCY:

                Goodren  withdrew  from  participating  in the District 65 Union
                Pension  Plan (the  "Plan"),  which  withdrawal  resulted in the
                assessment  of a  withdrawal  liability  owed  to  the  Plan  by
                Goodren.  During the year ended  January 31,  1995,  the Company
                accrued a reserve for an estimated  liability of $560,000  which
                counsel to the Company  believed  would be payable over a period
                of approximately 22 years beginning  approximately one year from
                the  withdrawal  date. In March of 1996,  the Company  signed an
                agreement  with the  Plan  whereby  they  would  make  quarterly
                payments  of $7,548.  At  September  30,  1996,  the Company and
                Goodren entered into a Settlement Agreement with the Trustees of
                the union pension plan whereby  Goodren=s pension fund liability
                was reduced to $360,000  payable in 80 equal quarterly  payments
                of $8,752 including annual interest at a rate of 8%. In December
                1997, the Company entered into a Hardship  Settlement  Agreement
                with the  Trustees  whereby it was able to reduce its  quarterly
                payments/obligations  to $3,000  because of the  Company=s  poor
                financial condition. However, the agreement provides that if the
                Company=s financial condition should improve so that there would
                be no hardship in making future  payments  (i.e.  payment of the
                withdrawal  liability  does not impede its ability to  operate),
                then the Plan may terminate the Hardship  Settlement and require
                the  Company  to make all  payments  due  after the date of such
                improvement   in   accordance   with  the  original   Settlement
                Agreement.  Should  this  occur,  then the  Company=s  quarterly
                payment  would revert back to $8,752.  The Company  continues to
                make quarterly payments of $3,000.
<PAGE>
                                                                         Page 8.

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

              INTRODUCTION:

              EAC  Industries,  Inc.,  the  Company,  is a holding  company with
              currently one operating  subsidiary,  Flexible  Printed  Products,
              Inc.  (AFlexible@).  Flexible  produces  and  prints  on  plastic,
              pre-cure,  in-mold heat transfer labels for the identification and
              decoration of rubber and silicone hoses, belts and tire patches.

              In June 1998, the Company  completed the sale of substantially all
              of the  assets  of  Goodren  Label  Corporation  (formerly  Athena
              Packaging Inc.).  Goodren Label Corporation  (AAthena@),  a wholly
              owned subsidiary of the Company,  was in the business of producing
              printed, laminated,  embossed and hot stamped labels, wraps, seals
              and decals for the cosmetics, pharmaceutical and health and beauty
              aids  industries.  The aggregate sales price of $277,000  included
              inventory valued at the lower of cost or market.

              On March 1, 1999, the Company  completed the sale of the operating
              assets of Goodren Products Corporation ("Goodren"), a wholly-owned
              subsidiary  of the  Company,  for a price  of  $400,000  plus  the
              assumption  of all trade payable  liabilities.  Goodren was in the
              business of designing and providing point-of-purchase  advertising
              displays and wall decorations on semi-durable plastic.

              The  financial   information   presented  herein   includes:   (i)
              Consolidated  condensed  balance sheets as of October 31, 1999 and
              January  31,  1999;  (ii)  Consolidated  condensed  statements  of
              operations  for the three and nine month periods ended October 31,
              1999 and 1998 and (iii) Consolidated  condensed statements of cash
              flows for the nine month periods ended October 31, 1999 and 1998.

              RESULTS OF CONTINUING OPERATIONS:

              Sales for the  three-month  period  ended  October  31,  1999 were
              $385,000 as compared to $363,000 for the comparable  period of the
              prior year,  reflecting  an  increase of $22,000 or 6.1%.  Cost of
              sales as a  percentage  of sales  was  62.1%  for the  three-month
              period  ended  October  31,  1999 as  compared  to  69.6%  for the
              three-month   period  ended  October  31,  1998.   Sales  for  the
              nine-month  period  ended  October  31,  1999 were  $1,139,000  as
              compared  to  $1,142,000  for the  comparable  period of the prior
              year,  reflecting  a  decrease  of  $3,000.  Cost  of  sales  as a
              percentage  of sales  was 63.7% for the  nine-month  period  ended
              October 31, 1999 as  compared to 69.8% for the  nine-month  period
              ended October 31, 1998. This decrease in cost of sales is a result
              of reductions in raw material and labor costs.

              Selling,  general and administrative expenses decreased by $46,000
              and $114,000 when comparing the three and nine month periods ended
              October 31, 1999 and 1998.  These decreases result from reductions
              in marketing costs as well as the  implementation  of various cost
              saving techniques initiated by management.

              For the three months ended October 31, 1999 the Company  reflected
              a net loss from continuing  operations of $3,912 compared to a net
              loss of $96,962 for the comparative  period of the prior year. For
              the nine  month  periods  ended  October  31,  1999 and 1998,  the
              Company  reflected  net losses  from  operations  of  $35,991  and
              $266,394,  respectively. This decrease in the operating losses was
              primarily  due to the  reduced  operating  overhead  as  mentioned
              above.
<PAGE>
                                                                         Page 9.

              DISCONTINUED OPERATIONS:

              In June 1998, the Company  completed the sale of substantially all
              of the  assets  of  Goodren  Label  Corporation  (formerly  Athena
              Packaging Inc.) for an aggregate sales price of $277,000 including
              inventory  valued  at the  lower  of  cost  or  market.  The  gain
              recognized  on the sale of these assets  aggregated  $289,505.  On
              March 1, 1999,  the Company  completed  the sale of the  operating
              assets of Goodren Products Corporation  ("Goodren") for a price of
              $400,000 plus the assumption of all trade payable liabilities. The
              Company  realized a gain of  $240,218  upon the sale of  Goodren=s
              assets.  See  Note  2  of  Notes  to  the  Consolidated  Financial
              Statements for a further description of these transactions.

              For the nine month  period  ended  October 31,  1999,  Goodren and
              Athena  reported a combined loss from  operations of $57,502.  The
              gain  realized  from the sale of the assets of Goodren  during the
              current  period  aggregated  $240,218.  For the nine month  period
              ended  October 31,  1998,  Goodren and Athena  reported a combined
              operating  loss of $131,029 and recognized a gain from the sale of
              equipment of $289,505.

              LIQUIDITY AND CAPITAL RESOURCES:

              At October 31, 1999,  the Company's  working  capital was $544,000
              compared to working  capital of $446,000 at its year ended January
              31, 1999.  Cash  amounted to $624,000 at October 31, 1999 compared
              to $468,000 at January 31, 1999.

              The Company  believes  that its cash on hand will be sufficient to
              fund planned operations for at least the next 12-month period. The
              Company (primarily  Flexible) has no planned capital  expenditures
              for the next year.

              YEAR 2000 ISSUES

              The Year 2000 (AY2K@)  problem is the result of computer  programs
              being  written  using two digits  (rather than four) to define the
              applicable   year.  Any  of  the  Company's   programs  that  have
              time-sensitive  software  may  recognize  a date using "00" as the
              year  1900  rather  than the year  2000,  which  could  result  in
              miscalculations  or system failures.  The Company has instituted a
              Y2K compliance program, the objective of which is to determine and
              assess  the  risks  of the  Y2K  issue,  and  plan  and  institute
              mitigating actions to minimize those risks. The Company's standard
              for compliance  requires  that, for a computer  system or business
              process  to be Y2K  compliant,  it must  be  designed  to  operate
              without error in date and date-related data prior to, on and after
              January  1,  2000.  The  Company=s   computer=s  hardware  is  Y2K
              compliant  and  it  has  purchased  an  Aoff-the-shelf@   business
              software  program,  for internal use, which is also Y2K compliant.
              The Company has spent less than  $10,000 to date and expects  that
              any further expenditures will be minimal.

              CONTINGENCY PLANS

              The  Company=s  management  is in  the  process  of  developing  a
              Aworst-case  scenario@  with respect to Y2K  noncompliance  and to
              develop contingency plans designed to minimize the effects of such
              scenario.  Although  management  believes that it is very unlikely
              that any of these  worst-case  scenarios  will occur,  contingency
              plans will be developed and will address both IT system and non-IT
              system failure.


<PAGE>
                                                                        Page 10.

              The Company  intends to request  assurances of Y2K readiness  from
              its telephone and electrical  suppliers.  However,  management has
              been informed that some suppliers have either  declined to provide
              the requested assurances,  or have limited the scope of assurances
              that they are willing to give.  If suppliers of services  that are
              critical to the Company=s  operations were to experience  business
              disruptions  as a result  of their  lack of Y2K  readiness,  their
              problems  could have a material  adverse  effect on the  financial
              position and results of operations of the Company. The impact of a
              failure of  readiness  by critical  suppliers  cannot be estimated
              with confidence,  and the  effectiveness  of contingency  plans to
              mitigate  the  effect of any such  failure  is  largely  untested.
              Management  cannot  provide  any  assurance  that there will be no
              material adverse effects to the financial  condition or results of
              operations of the Company as a result of Y2K issues.

              OTHER:

              This report  contains  forward-looking  statements and information
              that is based on management=s beliefs and assumptions,  as well as
              information  currently available to management.  When used in this
              document,  the words Aanticipate,@  Aestimate,@ Aexpect,@ Aintend@
              and similar  expressions are intended to identify  forward-looking
              statements.  Although the Company  believes that the  expectations
              reflected in such  forward-looking  statements are reasonable,  it
              can give no  assurance  that such  expectations  will  prove to be
              correct.   Such   statements   are   subject  to  certain   risks,
              uncertainties  and assumptions.  Should one or more of these risks
              or uncertainties materialize, or should the underlying assumptions
              prove  incorrect,  actual results may vary  materially  from those
              anticipated, estimated or expected. Among the key factors that may
              have a direct  bearing  on the  Company=s  operating  results  are
              fluctuations in the economy, the degree and nature of competition,
              the risk of delay in product  development  and  release  dates and
              acceptance of, and demand for, the Company=s products.
<PAGE>
                                                                        Page 11.

                           PART II. OTHER INFORMATION

Item 1.       Legal Proceedings

              None

Item 2.       Changes in Securities

              None

Item 3.       Defaults upon Senior Securities

              None

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

              None

Item 5.       Other Information

              None

Item 6.       Exhibits and Reports

         (a)     Exhibits:

                 (27)     Financial Data Schedule


<PAGE>
                                                                        Page 12.

                                   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.

                                           EAC INDUSTRIES, INC.
                                           Registrant

                                           /S/ PETER B. FRITZSCHE
Date: December 14, 1999                        Peter B. Fritzsche
                                           Chief Executive Officer and Principal
                                           Accounting Officer