U. S. SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                  FORM 10-KSB/A
                                 (Amendment # 1)

(MARK ONE)
[x]      Annual  Report  Pursuant  to  Section  13 or  15(d)  of the  Securities
         Exchange  Act of 1934 [Fee  Required]  For the fiscal year ended August
         31, 1999

[ ]      Transition Report Under Section 13 or 15(d) of the  Securities Exchange
         Act  of  1934  [No  Fee  Required]  For  the   transition   period from
         __________ to __________.

                         Commission File Number 0-10093
                                                -------

                              GOLF ROUNDS.COM, INC.
          -------------------------------------------------------------
              (Exact name of small business issuer in its charter)

            Delaware                                        22-3664872
-------------------------------                         -------------------
(State or other jurisdiction of                         (I.R.S. Employer
 incorporation or organization)                         Identification No.)

           376 Main Street, P. O. Box 74, Bedminster, New Jersey 07921
     ---------------------------------------------------------------------
                    (Address of principal executive offices)

                    Issuer's telephone number: (908) 901-9250
                                               --------------

         Securities registered under Section 12(b) of the Exchange Act:

                                      NONE

         Securities registered under Section 12(g) of the Exchange Act:

                          Common Stock, $.01 par value
                       ----------------------------------
                                (Title of class)

Check whether issuer (1) filed all reports required to be filed by Section 13 or
15(d) of the Exchange Act during the past 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
                                 -----       -----

Check if there is no disclosure of delinquent  filers in response to Item 405 of
Regulation S-B contained in this form, and no disclosure  will be contained,  to
the  best  of  registrant's   knowledge,  in  definitive  proxy  or  information
statements  incorporated  by  reference  in Part III of this Form  10-KSB or any
amendment to this Form 10-KSB.

                             YES   X      NO
                                 -----       ------

Issuer's  revenues for the fiscal year ended August 31, 1999 were  approximately
$94,000.


As of November 26, 1999, there were 2,099,496 shares of the registrant's  common
stock, $.01 par value, issued and outstanding.

The  aggregate  market  value of the voting stock held by  nonaffiliates  of the
registrant as of November 26, 1999, was approximately $1,600,000.

Transitional Small Business Disclosure Format        Yes       No    X
                                                        -----     ------

                      DOCUMENTS INCORPORATED BY REFERENCE:
                                      NONE

<PAGE>



                                     PART I



Item 1.   DESCRIPTION OF BUSINESS
------    -----------------------

General
-------




     The  Company had been  engaged in the  wholesale  distribution  of aluminum
alloys,  steel and other specialty  metals until it liquidated its assets in the
fourth  quarter of its fiscal year of 1992. In May of 1999, the Company became a
publisher of Internet Websites through its acquisition of PKG Design,  Inc., the
developer and owner of two Internet websites:  golfrounds.com and skiingusa.com.
Prior to the  acquisition,  PKG Design had entered into an agreement with Lycos,
Inc. ("Lycos"), a major Internet guide. Under the agreement,  Lycos incorporated
golfrounds.com  into the Lycos website so that its customers  could use Lycos to
obtain  information  about  golf  (the  "Lycos  Agreement").  Almost  all of the
Company's  modest  revenues to date were derived  from  selling  advertisements,
often called banners,  to reach Lycos  customers.  Recently,  Lycos informed the
Company that the Lycos Agreement would be canceled  effective  December 5, 1999.
While the Company is attempting  to negotiate  content  distribution  agreements
such as the Lycos Agreement,  with other Internet guides,  there is no assurance
that  such an  agreement  or  agreements  will be made,  or if made  that  these
agreements would generate significant revenue.



<PAGE>



Item 6.      MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
------       ---------------------------------------------------------

     This Form  10-KSB  contains  forward-looking  statements  which may involve
known and unknown  risks,  uncertainties  and other  factors  that may cause the
Company's  actual  results and  performance  in future  periods to be materially
different from any performance suggested by these statements.

Overview
--------



     The  Company had been  engaged in the  wholesale  distribution  of aluminum
alloys,  steel and other specialty  metals until it liquidated its assets in the
fourth  quarter of its fiscal year of 1992. In May of 1999, the Company became a
publisher of Internet Websites through its acquisition of PKG Design,  Inc., the
developer and owner of two Internet websites:  golfrounds.com and skiingusa.com.
Prior to the  acquisition,  PKG Design had entered into an agreement with Lycos,
Inc. ("Lycos"), a major Internet guide. Under the agreement,  Lycos incorporated
golfrounds.com  into the Lycos website so that its customers  could use Lycos to
obtain  information  about  golf  (the  "Lycos  Agreement").  Almost  all of the
Company's  modest  revenues to date were derived  from  selling  advertisements,
often called banners,  to reach Lycos  customers.  Recently,  Lycos informed the
Company that the Lycos Agreement would be canceled  effective  December 5, 1999.
While the Company is attempting  to negotiate  content  distribution  agreements
such as the Lycos Agreement,  with other Internet guides,  there is no assurance
that  such an  agreement  or  agreements  will be made,  or if made  that  these
agreements would generate significant revenue.



<PAGE>

                                   SIGNATURES


     In accordance  with Section 13 or 15(d) of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.


                                                   GOLF ROUNDS.COM, INC.




Dated: November 29, 1999                           By:/s/ Paul O. Koether
                                                   ---------------------------
                                                   Paul O. Koether
                                                   Chairman of the Board
                                                   (Principal Executive Officer)


Dated: November 29, 1999                           /s/ John W. Galuchie, Jr.
                                                   ---------------------------
                                                   John W. Galuchie, Jr.
                                                   Vice President, Treasurer
                                                   and Director
                                                   (Principal Accounting
                                                   and Financial Officer)



     In  accordance  with the Exchange Act, this report has been signed below by
the following  persons on behalf of the  registrant and in the capacities and on
the dates indicated.



Dated: November 29, 1999                           /s/ Paul O. Koether
                                                   ---------------------------
                                                   Paul O. Koether
                                                   Chairman of the Board,
                                                   and Director
                                                   (Principal Executive Officer)


Dated: November 29, 1999                           /s/ Thomas K. Van Herwarde
                                                   ---------------------------
                                                   Thomas K. Van Herwarde
                                                   President and Director


Dated: November 29, 1999                           /s/ John W. Galuchie, Jr.
                                                   ---------------------------
                                                   John W. Galuchie, Jr.
                                                   Vice President, Treasurer
                                                   and Director
                                                   (Principal Accounting
                                                   and Financial Officer)