SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549
                             ----------------------

                                   FORM 10-Q
   X
________            QUARTERLY REPORT PURSUANT TO SECTION 13 OR
                    15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

                    For the quarterly period ended November 30, 1995

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

                           Commission File No. 0-7578

                          ELECTRO-CATHETER CORPORATION
               (Exact name of the Registrant as specified in Charter)

    New Jersey                                              22-1733406
(State of Incorporation)                           (I.R.S. Employer ID Number)

                  2100 Felver Court, Rahway, New Jersey 07065
         --------------------------------------------------------------
              (Address of Principal Executive Offices) (Zip Code)

          Registrant's Telephone No. Including Area Code: 908-382-5600

     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

     Indicate the number of shares  outstanding of each of the issuer's  classes
of common stock, as of the latest practical date:

     6,347,345 shares of Common stock, $.10 par value as of January 9, 1996.


<PAGE>








                          ELECTRO-CATHETER CORPORATION



                              TABLE OF CONTENTS

PART I. FINANCIAL INFORMATION
                                                                   PAGE

Item 1.   Financial Statements (Unaudited):


          Condensed Comparative Balance Sheets
             November 30, 1995 and August 31, 1995                    1


          Condensed Comparative Statements of Operations - 
             Three Months Ended November 30, 1995 
               and November 30, 1994                                  2


          Condensed Comparative Statements of Cash Flows - 
             Three Months Ended November 30, 1995
               and November 30, 1994                                  3


          Notes to Condensed Financial Statements                     4


Item 2.   Management's Discussion and Analysis of Results  
            of Operations and Financial Condition                   5 - 7


PART II. OTHER INFORMATION

Item 5.   Other Information                                           7

Item 6.   Exhibits and Reports on Form 8-K                            7

          SIGNATURES                                                  7
<PAGE>
<TABLE>

                                                    ELECTRO-CATHETER CORPORATION
                                                CONDENSED COMPARATIVE BALANCE SHEETS
                                                            (Unaudited)
                                               November 30, 1995 and August 31, 1995
<CAPTION>

                                                               November 30                       August 31
                                                                   1995                             1995
                                                               -----------                        -------
<S>                                        <C>                <C>                 <C>           <C>                               
                                                               
  ASSETS
Current assets:
  Cash and cash equivalents                                   $    95,423                         304,385
  Accounts receivable, net                                      1,205,489                       1,206,288
  Inventories
    Finished goods                         1,068,275                              938,224
    Work-in-process                          657,362                              644,957
    Materials and supplies                   520,537                              509,898
                                           ---------                             --------
    Total inventories                                           2,246,174                       2,093,079
    Prepaid expenses and
     other current assets                                          71,591                          43,030
                                                               ----------                      ----------

    Total current assets                                        3,618,677                       3,646,782

Property, plant and equipment, net                                577,236                         598,787
Other assets, net                                                 125,468                         135,947
                                                               ----------                       ---------

         Total assets                                           4,321,381                       4,381,516
                                                                =========                       =========

   LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Current installments of subordinated
      debentures due to T-Partneership                             75,000                               -
  Current installments of long-term debt                                -                          13,055
  Accounts payable and accrued expenses                           947,229                       1,128,310
                                                                 --------                     -----------
  Total current liabilities                                     1,022,229                       1,141,365

  Subordinated debentures due to
     T-Partnership, excluding current
     installments                                               1,425,000                       1,200,000
                                                                ---------                       ---------

  Total liabilities                                             2,447,229                       2,341,365
                                                                ---------                       ---------

  Stockholders' equity:
    Common stock                                                  634,734                         633,630
    Additional paid-in capital                                 10,625,929                      10,615,298
    Accumulated deficit                                        (9,386,511)                     (9,208,777)
                                                              -----------                     -----------

      Total stockholders' equity                                1,874,152                       2,040,151
                                                                ---------                       ---------

      Total liabilities and stockholders'
          equity                                              $ 4,321,381                       4,381,516
                                                                =========                       =========
</TABLE>

See accompanying notes to condensed financial statements.



                                                                 1

<PAGE>

<TABLE>


                                                    ELECTRO-CATHETER CORPORATION

                                           CONDENSED COMPARATIVE STATEMENTS OF OPERATIONS
                                                            (Unaudited)


                                                                    Three Months Ended
                                                                       November 30,

                                                          1995                            1994
<CAPTION>
                                                          ----                            ----
<S>                                                 <C>                               <C>    
Net sales                                           $  1,825,993                      1,626,721
Cost of goods sold                                       894,897                        876,685
                                                         -------                        -------
  Gross profit                                           931,096                        750,036

Operating expenses:
  Selling, general and administrative                    788,036                        709,184
  Research and development                               277,336                        231,434
                                                         -------                        -------
    Operating loss                                      (134,276)                      (190,582) 
Other income (expenses):
  Interest income                                             86                            305
  Interest expense                                       (43,544)                       (28,294)
                                                         -------                        ------- 

     Net loss                                       $   (177,734)                      (218,571) 
                                                        ========                       ========  


Net loss per common share                           $      (0.03)                         (0.04)
                                                           =====                          ===== 

Dividends per share                                         None                           None

Weighted average shares outstanding                    6,344,584                      5,762,324


See accompanying notes to condensed financial statements.
</TABLE>

















                                                                  2

<PAGE>


<TABLE>

                                                         ELECTRO-CATHETER CORPORATION

                                                CONDENSED COMPARATIVE STATEMENTS OF CASH FLOWS
                                                                  (Unaudited)

                                                                      Three Months Ended
                                                                          November 30,

<CAPTION>
                                                                    1995                   1994
<S>                                                          <C>                     <C>    
                                                                    ----                   ----
Increase (decrease) in cash:
Cash flows from operating activities:
  Cash received from customers                               $ 1,814,777              1,718,826
  Cash paid to vendors and employees                          (2,260,223)            (1,922,860)
  Interest received                                                   86                    305
  Interest paid                                                  (41,461)               (20,996)
                                                                  ------                -------
  Net cash used in operating activities                         (486,821)              (224,725)

Cash flows from investing activities:
  Cash purchases of property, plant and
    equipment                                                     (9,086)                (4,739)
                                                                  ------                 ------ 

Net cash used in investing activities                             (9,086)                (4,739)         
                                                                  ------                -------
Cash flows from financing activities:
  Proceeds from loan and warrants
    from T-Partnership                                           300,000                125,000
  Repayment of debt                                              (13,055)                (4,390)
                                                                 -------                -------
  Net cash provided by financing activities                      286,945                120,610
                                                                 -------                -------

  Net decrease in cash                                          (208,962)              (108,854)
  Cash at beginning of period                                    304,385                376,388
                                                                 -------                -------
  Cash at end of period                                      $    95,423                267,534
                                                                  ======                =======

  Net loss                                                   $  (177,734)              (218,571)
    Adjustments:
      Depreciation                                                30,637                 34,857
      Amortization                                                 2,083                  7,298

    Changes in assets and liabilities:
      Decrease in accounts receivable, net                           799                 92,105
      Increase in inventories                                   (153,095)              (107,968)
     (Increase) decrease in prepaid 
        expenses and other current assets                        (28,561)                20,569
      Decrease (increase) in other assets                          8,396                 (1,145)
      Decrease in accounts payable and accrued expenses         (169,346)               (51,870)
                                                                --------                ------- 

Net cash used in operating activities                        $  (486,821)              (224,725)
                                                                ========               ======== 

See accompanying notes to condensed financial statements.
</TABLE>

                                                                  3

<PAGE>



                          ELECTRO-CATHETER CORPORATION

                    NOTES TO CONDENSED FINANCIAL STATEMENTS





Note 1  Basis of Presentation

     In  the  opinion  of  management,   the  accompanying  unaudited  condensed
financial  statements  contain  all  adjustments   (consisting  only  of  normal
recurring  accruals)  necessary  to present  fairly the  financial  position  of
Electro-Catheter  Corporation as of November 30, 1995, the results of operations
for the  three  months  ended  November  30,  1995  and  November  30,  1994 and
statements  of cash  flows for the three  months  ended  November  30,  1995 and
November  30,  1994,  but are not  necessarily  indicative  of the results to be
expected for the full year.

     These  statements  should be read in conjunction  with the Company's Annual
Report to the  Securities  and Exchange  Commission  on Form 10-K for the fiscal
year ended August 31, 1995.


Note 2 Subordinated Debentures

     The  Company  and  the  T-Partnership,  to  whom  the  Company  has  had an
indebtedness of $1,500,000,  agreed in January 1996 to a restructuring  of their
financing  agreement.  The T-Partnership has advanced an additional  $100,000 to
the Company and has agreed to defer all  interest  payments due from the Company
for a period  of three  months  (interest  payments  to be added to  outstanding
principal  on the  T-Partnership  indebtedness).  The assets of the Company will
secure these new advances and will continue to secure  preexisting  indebtedness
due from the Company to the T-Partnership.  In exchange for these advances,  the
Company  has  agreed  that if it is not in  compliance  with  certain  financial
covenants,  to be tested on a monthly basis,  the  T-Partnership  may declare an
Event of Default  and  accelerate  repayment  of  indebtedness.  The  Company is
currently in  compliance  with this  covenant.  The  T-Partnership  indebtedness
otherwise  is to be repaid in equal  monthly  payments  from  September  1, 1996
through August 1, 2001.


                                       4

<PAGE>



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

Results of Operations

     Net sales for the three months ended November 30, 1995  increased  $199,272
(12.2%) as compared to the three months ended November 30, 1994.  Total domestic
sales  increased  $41,746  (3.4%) and  international  sales  increased  $157,526
(35.6%) for the three  months  ended  November  30, 1995 as compared to the same
period in the prior  year.  The  increase  in domestic  sales is  attributed  to
shipments to an OEM customer for a special-design  catheter and higher volume in
the northeast region previously handled by a distributor.  The increase in sales
in the northeast  region is also a result of the increase in the selling  prices
which now exclude the  distributor  discount.  This sales increase was partially
offset by  declines  in the other  regions.  International  sales  reflects  the
increase in the Company's traditional as well as electrophysiology products.

     The Company  continues to investigate  other  potential  opportunities  for
increased  sales,  including  alignment  with buying groups and  increasing  the
Company's  OEM  business.  Also,  the Company  continues to devote a significant
portion of its engineering and sales activities to  electrophysiology.  However,
there can be no assurance  that the Company will be successful in its efforts to
increase sales.

     Gross profit dollars increased  $181,060 (24.1%) for the three months ended
November 30, 1995 as compared to the three months ended November 30, 1994.  This
increase is primarily attributed to the increase in operating yields and volume.
The gross profit  percentages  for the three months ended  November 30, 1995 and
November 30, 1994 were 51.0% and 46.1%, respectively. Gross profit for this past
quarter was also  favorably  impacted by the increase in sales in the  northeast
region  as a result  of  selling  directly  to  hospitals  as well as sales  not
including the  distributor  discount.  In December 1995, the Company reduced its
manufacturing staff as a result of lower than anticipated product demand.

     Selling,  general and administrative expenses increased $78,852 (11.1%) for
the three month period ended November 30, 1995 as compared to the same period in
the prior year.  This  increase  is  primarily  attributed  to a rise in selling
expenses associated with the addition of new sales  representatives to cover the
territory  previously  represented  by a  distributor  and  the  addition  of an
International  Marketing  Manager.  This increase was partially  offset by lower
administrative costs.

     Research and  development  expenditures  increased  $45,902 (19.8%) for the
three  months  ended  November  30, 1995 as compared to the three  months  ended
November 30, 1994.  The increase is  attributed  to an increase in personnel and
purchases of research and development materials.

     Interest  expense  increased as a result of increased  borrowings  from the
T-Partnership.


                                       5

<PAGE>



     The net loss for the three months  ended  November 30, 1995 was $177,734 or
$.03 per share as compared to a loss of $218,571 or $.04 per share for the three
months ended November 30, 1994.


Liquidity and Capital Resources

     Working capital  decreased  $91,031 to $2,596,448 from August 31, 1995. The
current  ratio was 3.5 to 1 at  November  30,  1995 as  compared  to 3.2 to 1 at
August 31,  1995.  Net cash used in  operating  activities  was $486,821 for the
first three  months of fiscal  year 1996 as  compared to $224,725  for the first
three  months  of  fiscal  year  1995, primarily  as a result  of the loss  from
operations,  increase in inventories and decrease in current liabilities. During
the first three months of fiscal year 1996,  the Company was able to satisfy its
cash  shortfall  from  operating   activities   with  the  borrowings  from  the
T-Partnership  and cash on hand.  The Company  continues  to devote  significant
resources to the development of new products and sales activities.

     On  August  31,  1995,  the  Company  entered  into an  agreement  with the
T-Partnership  to borrow an  additional  $500,000 and combine such loan with the
original $1,000,000 for a total loan due to the T-Partnership of $1,500,000. The
T-Partnership  agreed  to lend the  Company  $200,000  on the  execution  of the
agreement and, at the Company's  request,  an additional sum of $300,000.  As of
November 30, 1995,  the Company had  borrowed all of the  $500,000.  The rate of
interest  is 12% per annum and is payable  monthly on any  outstanding  balance.
Principal  payments of $20,000  were  scheduled to commence on September 1, 1995
for the original  $1,000,000.  However, the new agreement provides for repayment
to begin on  September  1, 1996 with  installments  of $25,000  each month.  Any
remaining balance is due on August 1, 2001. The loan is secured by the Company's
property,   building,   accounts  receivable,   inventories  and  machinery  and
equipment.  The  Company  must prepay the  outstanding  balance in the event the
Company is merged into or consolidated  with another  corporation or the Company
sells all or substantially all of its assets.  Ervin  Schoenblum,  the Company's
Acting  President  and director  and another  member of the  Company's  Board of
Directors are members of the T-Partnership.

     Under the  provisions  of the original  agreement,  the  T-Partnership  was
granted purchase  warrants which permitted the T-Partnership to purchase 166,667
shares of the  Company's  common  stock at a price of $3.25 per  share.  The new
agreement  states that the  T-Partnership  will surrender its original  purchase
warrant to purchase 166,667 shares of common stock and be granted a new purchase
warrant to purchase  500,000 shares of the Company's  common stock at a price of
$0.9875 per share. The warrants are immediately exercisable.

     The  Company  and  the  T-Partnership,  to  whom  the  Company  has  had an
indebtedness of $1,500,000,  agreed in January 1996 to a restructuring  of their
financing  agreement.  The T-Partnership has advanced an additional  $100,000 to
the Company and has agreed to defer all  interest  payments due from the Company
for a period  of three  months  (interest  payments  to be added to  outstanding
principal  on the  T-Partnership  indebtedness).  The assets of the Company will
secure these new advances and will continue to secure  preexisting  indebtedness
due from the Company to the T-Partnership.  In exchange for these advances,  the
Company  has  agreed  that if it is not in  compliance  with  certain  financial
covenants,  to be tested on a monthly basis,  the  T-Partnership  may declare an
Event of Default  and  accelerate  repayment  of  indebtedness.  The  Company is
currently in  compliance  with this  covenant.  The  T-Partnership  indebtedness
otherwise  is to be repaid in equal  monthly  payments  from  September  1, 1996
through August 1, 2001.


                                       6

<PAGE>



     
     The Company's ability to continue in business is dependent upon its ability
to  generate  sufficient  cash flow  from  operations  or to  obtain  additional
financing. The Company continues to re-evaluate its plans and adopt certain cost
reduction  measures.  In December,  1995, the Company reduced its  manufacturing
staff as a result of lower than anticipated  product demand. The Company is also
attempting to increase sales by examining and, where appropriate,  modifying its
distribution network,  utilizing aggressive pricing and introducing new products
to market.

     Inflation  did not have a material  impact on the results of the  Company's
operations for the three months ended November 30, 1995.

Part II. Other Information

Item 5.  Other Information

     Dr. Robert I. Bernstein and Michael Bernstein,  M.D. have recently resigned
from the Board of  Directors  for health  reasons.  The  Company  will  consider
adding, on a timely basis, one or more members to the Board of Directors.

Item 6. Exhibits and Reports on Form 8-K

     Exhibits

     None.

     Reports on Form 8-K

     None.

     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. 

                                        ELECTRO-CATHETER CORPORATION

                                        /s/Ervin Schoenblum
Date:  January 16, 1996                 Ervin Schoenblum
                                        Acting President and
                                        Chief Operating Officer

                                        /s/Joseph P. Macaluso
Date:  January 16, 1996                 Joseph P. Macaluso
                                        Chief Financial Officer

                                       7