SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                 FORM 10-KSB/A

  X  Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934 for the Fiscal Year Ended December 31, 1995.


     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 0-21662

                       STRATEGIA CORPORATION
             (Exact name of registrant as specified in its charter)

           Kentucky                                         61-1064606
   (State or other jurisdiction of                  (I.R.S. Identification No.)
Employer incorporation or organization)

10301 Linn Station Road 
P.O. Box 37144
Louisville, Kentucky                                                 40233-7144
(Address of principal executive offices)                             (zip code)

Registrant's telephone number, including area code: (502)426-3434

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

Securities registered pursuant to Section 12(g) of the Act:   Common Stock

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 _____.

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/A or any
amendment to this Form 10-KSB/A. [X]

The aggregate market value of the voting stock held by non-affiliates of the
registrant as of March 22, 1996:  Common stock -- $1,475,440.

The number of shares of the registrant's common stock outstanding as of
March 22, 1996 -- 2,514,885 shares.

                          REFERENCE

Portions of the Corporation's Definitive Proxy Statement is incorporated by
reference into Part III of this Form 10-KSB/A.


Item 6.           MANAGEMENT'S DISCUSSION AND ANALYSIS OF
               RESULTS OF OPERATIONS AND FINANCIAL CONDITION

Preliminary Note Regarding Forward-Looking Statements

     The information set forth in "Management's Discussion and Analysis of
Results of Operations and Financial Condition" below and in "Risk Factors,"
"Use of Proceeds" and "Business" includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act and Section 21E of the
Exchange Act, and is subject to the safe harbor created by those sections.
Factors that realistically could cause results to differ materially from those
projected in the forward-looking statements are set forth in "Management's
Discussion and Analysis of Results of Operations and Financial Condition" 
below and in the "Risk Factors" section of the Company's Form SB-2 
Registration Statement (Reg. No. 333-14055).

Overview

     Strategia Corporation provides disaster recovery, consulting, 
information processing and outsourcing services to users of medium- and 
large-scale computers in North America and Europe. Its clients include 
large and medium-sized organizations, including government agencies, 
universities, health care providers, financial institutions, manufacturers
and telecommunications firms. 

     The Company has sought to expand the range of computer services it 
can offer to customers in recent years, as its historic business has 
contracted. Since its inception in 1984, the Company has specialized in 
offering disaster recovery services to operators of large-scale data 
centers, including alternate site processing for Bull computer systems 
and contingency planning consulting. However, the number of large data 
centers using Bull computer systems in North America has decreased from 
approximately 700 in 1986 to approximately 100 in 1995, largely due to the
"migration" of data centers to other computer systems. As a result, the 
Company's revenues from its historic business base have declined 
significantly in recent years. The Company has offered backup services for
certain IBM computer systems since 1993, and began in February 1995 to 
offer Bull backup services in France, where the number of data centers 
using Bull computers is much larger than in North America. The Company 
plans to open an operations center and to offer Bull backup services in 
the United Kingdom within the next twelve months. In 1996, the Company 
began to market data center outsourcing and millennium services. Demand 
for millennium services, however, is likely to diminish significantly 
after 2000. 

        Revenue from disaster recovery backup and contingency planning 
services represented approximately 95% of the Company's revenue in 1995. 
Twinsys generated approximately 65% of the Company's total service 
revenues in 1995. Revenue from alternate site processing is typically 
generated under multi-year contracts and is recognized ratably over the 
life of the contract. The Company's contingency planning services are 
rendered for a fixed fee, based on estimated hours required at each 
participating consultant's hourly rate, and revenue is recognized at the 
time the services are performed. Outsourcing revenue is generated under 
contracts at a specified monthly fee. Millennium consulting services will 
be offered on a fixed fee basis, while technical assessment and code 
conversion charges will be based upon the number of lines of program code.
Millennium testing services will be charged at a per hour rate based on 
the equipment needed to test the client's system. 

     Most of the Company's current cost structure is fixed. Cost of 
services relates mainly to computer and peripheral lease and maintenance 
expenses, facility lease, maintenance and utility expenses, and data 
communication costs. Personnel expenses, such as salaries and wages, along
with employee benefit costs, are also largely fixed. 

     Gross margins for the Company's computer backup and outsourcing 
businesses depend upon volume of service because the costs of these 
services are largely fixed. Margins are also affected by depreciation and 
estimated useful life of computer equipment. If the useful life of 
equipment continues after the equipment is depreciated, margins will 
typically increase. If the useful life of equipment ends before it is 
depreciated, margins will typically decrease. Depreciation on equipment 
currently installed at the Louisville facility has largely been completed.
Assuming no purchases of additional equipment, depreciation expenses on 
equipment of Twinsys are expected to peak in 1997 and would decrease 
thereafter. See "Twinsys Assets Acquisition." Increased competition has 
also tended to reduce margins on Bull backup contracts negotiated in the 
last two years. An affiliate of Bull began offering backup services in 
1994 in the United States, representing the first significant competition 
the Company has faced in the North American Bull backup market in several 
years. Competition for IBM backup contracts has continued to be intense, 
which tends to keep margins tight. 

     Gross margins for contingency planning depend and millennium services
are expected to depend primarily on the productivity of the Company's 
technical and consulting staff. Most of the Company's contingency planning
projects are priced on a fixed fee basis depending on the estimated staff 
hours to complete the project. Therefore, the profitability of an 
individual project depends on completing the project within the budget. 
In addition, productivity is based upon the number of billable personnel, 
billing rates, and the number of hours billed per day. 

     General, administrative and selling expenses consist primarily of the
salaries and benefits paid to the Company's marketing and administrative 
personnel and benefits, travel, promotions and trade show expenses, 
offices expenses and other general overhead costs. As a result of its plan
to offer a wider range of computer services, the Company expects these 
costs to increase in absolute terms. However, the Company anticipates that
these costs will remain stable or decrease slightly as a percentage of 
total revenue. Whether these expenses actually do stabilize or decrease as
a percentage of revenue depends on the Company's ability to generate 
revenue from its new computer service offerings and the productivity of 
its marketing and administrative staff. 

     Other expenses relate primarily to finance charges associated with 
capital leases for computer and peripheral equipment as well as funds 
borrowed from a shareholder. The Company expects to reduce its finance 
costs by reducing or eliminating certain capital lease obligations or 
refinancing them at lower rates. There can be no assurance that the 
Company will be able to procure less expensive sources of financing for 
these obligations. In addition to interest payable in cash on the 
principal balance of the shareholder loan, upon each 90-day renewal of the
term of the loan, the Company issues 1,000 shares of Common Stock to the 
shareholder for each $100,000 of outstanding principal on the loan. See 
"Certain Transactions." The value of the shares issued during the year 
ended December 31, 1995 totaled $32,000. The shareholder loan has been 
renewed through January 5, 1997.

     The Company's results of operations for 1994 and 1995 include a 
provision for French income taxes on the income of Twinsys. The Company's 
North American operations incurred losses for these periods, thereby 
reducing income for the periods on a consolidated basis. The Company has 
net operating loss carry forwards available for U.S. federal and state 
income tax purposes and, accordingly, paid no U.S. income taxes for 1994 
and 1995. At December 31, 1995 and 1994, the Company had net operating 
loss carry forwards of $3,340,000 and $2,873,000, respectively, for 
federal income tax reporting purposes. The Company has recognized a 
valuation allowance on a portion of its deferred tax assets due to the 
uncertainty of realizing the benefits thereof. The use of these carry 
forwards to offset future income is subject to limitations under Section 
382 of the Internal Revenue Code. 

Twinsys Assets Acquisition

     In February 1995, Twinsys, the newly formed French subsidiary of the 
Company, paid $200,000 to acquire certain assets of Twinsys, SA ("TSA"), 
a Paris, France disaster recovery provider then in bankruptcy proceedings 
under French law, and DKI, an affiliate of TSA. Twinsys acquired (i) the 
lease to the office space that housed one of the two former TSA data 
centers; (ii) certain tangible fixed assets of TSA and DKI valued at 
approximately $260,000; and (iii) intangible assets of TSA of negligible 
value. As a condition to court approval of the transaction, Twinsys agreed
to provide backup services without charge to former TSA customers who had 
prepaid for these services and to assume approximately $65,000 of accrued 
vacation liabilities to former employees of TSA who became Twinsys 
employees. The Company financed the acquisition of the TSA assets and 
provided initial working capital to Twinsys with $500,000 in funds 
borrowed from a shareholder. See "Certain Transactions." 

     Twinsys commenced operations in February 1995 with no revenue-
producing contracts in effect and no lease arrangements in place for the 
computer equipment required to operate a backup services business. 
Twinsys' operating results during 1995 and 1996 are principally the 
result of Twinsys' success in entering into contracts with new 
subscribers, including a substantial number of the former customers of 
TSA, and in negotiating new computer leases at rates substantially less 
than the rates previously paid by TSA. 

     Twinsys did not succeed TSA as a party to TSA's contracts with its 
customers. As a result, the bankruptcy decree effectively terminated the 
former TSA customers' obligations under those contracts, and the former 
TSA customers became free to subscribe for computer backup services with 
any vendor they chose. During the first three quarters of 1995, Twinsys 
was able to negotiate and enter into new backup services arrangements with
more than 30 former TSA customers as well as several new clients. 

     Similarly, Twinsys did not assume any rights or obligations under any
leases for the computer equipment present at the TSA data centers. Twinsys
planned to (and ultimately did) negotiate new leases for necessary 
computer equipment at substantially lower rates than would have been 
payable under the TSA leases. The equipment owners were also willing to 
allow Twinsys to operate the equipment present at the data center while 
negotiations were underway, during which time Twinsys was not obligated to
make lease payments. In negotiating new client contracts, Twinsys 
committed to certain equipment upgrades to meet the backup requirements of
some of its larger clients. To meet the commitment, Twinsys leased a large
new computer system effective April 1, 1996. Many of the 1995 leases will 
terminate in 1997, and the Company anticipates that Twinsys' equipment 
costs will increase after new leases are negotiated and take effect. 
Depreciation expenses on currently installed equipment are expected to 
peak in 1997 and decrease thereafter. 

     Because Twinsys commenced operations effective as of February 1, 
1995, the Company's consolidated financial statements and other financial 
information contained in this Prospectus include only eleven months of 
combined operations with Twinsys during 1995. See Note 3 of Notes to the 
Consolidated Financial Statements. 

Results of Operations


  For the Years Ended December 31, 1995 and 1994

     The Company reported revenue of $8,927,000 and $4,616,000 for 1995 
and 1994, respectively. The Company reported net income of $42,000 for 
1995 after reporting net income of $6,000 in 1994. The increase in revenue
and net income in 1995 is attributable entirely to the commencement of 
operations by Twinsys effective on February 1, 1995. Twinsys contributed 
net income of approximately $750,000 in 1995, which offset the net loss 
incurred by the Company's North American operations during the year. 

     Consolidated service revenue increased by $4,312,000 or 93.4% during 
1995. Twinsys accounted for approximately $5,800,000 or 65.0% of 
consolidated service revenue for the year. Backup service revenue for the 
Company's North American operations decreased 35.2% in 1995. Bull backup 
service revenue decreased significantly due to the expiration of the 
Company's then two largest contracts during the first six months of 1995 
and increased competition. The expired contracts together generated 
approximately 42% of the Company's revenue in 1994. The Company entered 
into a new contract with one of these customers but for significantly 
lower revenue due to the customer's reduced backup service requirements. 
See "-Liquidity and Capital Resources." IBM backup service revenue grew by
23.8% in 1995, but was more than offset by the decrease in Bull backup 
service revenue. Consulting service revenue for 1995 increased by 62.8% over
1994, but was offset by non-recurring outsourcing revenue in 1994 from 
peak load processing. 

     The Company's operating expenses for 1995 increased by 85.7% to 
$7,829,000 for 1995 from $4,215,000 in 1994, primarily due to the addition
of Twinsys. Twinsys' operating expenses totaled $4,403,000 in 1995 and 
consisted mainly of lease and maintenance expenses for its facility and 
computer equipment, as well as personnel costs. The cost of services for 
North American operations decreased by approximately 23% in 1995 
principally from reductions in Bull computer equipment lease and 
maintenance costs. Selling, general and administrative expenses increased 
131.2% to $2,435,000 for 1995 from $1,053,000 in 1994. Twinsys accounted 
for $1,451,000 or 59.6% of these expenses in 1995, which relate largely to
personnel and marketing expenses. Legal and accounting fees increased in 
1995 as a result of the acquisition and initial startup of operations by 
Twinsys.  Interest expense totaled $657,000 and $396,000 for 1995 and 
1994, respectively. Interest expense for Twinsys totaled $240,000 or 
36.5% and is related mainly to capital leases for computer equipment. 
Interest costs in North America increased approximately 5% principally as 
a result of debt incurred by the Company to acquire assets and provide 
working capital for Twinsys. 

     The provision for income taxes totaled $444,000 for 1995, due to 
French income taxes resulting from income of Twinsys. No income tax 
benefits can be recognized currently for U.S. operating losses, but these 
losses are available to offset any future U.S. taxable income. 

Liquidity and Capital Resources

 For the Years Ended December 31, 1995 and 1994

     Net cash provided by operating activities was $2,707,000 in 1995 and 
$772,000 in 1994. The increase was due to increases in depreciation and 
amortization, as well as increases in deferred revenue, accrued expenses, 
and accounts payable. These increases were partially offset by a decrease 
in accounts receivable. 

     Net cash used in investing activities was $693,000 in 1995 and 
$43,000 in 1994. The increase was principally due to the establishment and
initial capitalization of Twinsys in February 1995. The purchase of certain
assets of TSA in bankruptcy proceedings and the purchase of computer equipment
associated with the commencement of operations by Twinsys, were the primary
investment uses of cash in 1995. 

     Net cash used in financing activities was $1,952,000 in 1995 and $665,000
in 1994. During 1995, the Company was required to renegotiate all computer
equipment capital leases in France. These new leases, along with the existing
capital leases at Strategia, resulted in a large increase in principal 
payments on these leases during 1995. These increased payments were partially
offset by proceeds from a shareholder loan. 

     At December 31, 1995, the Company's consolidated current liabilities 
exceeded current assets by $3,295,207. The principal resources available to
reduce the Company's liquidity deficiency are monthly revenues payable under
its backup service contracts. Backup services revenue for the Company's
customers are generated in most cases under multi-year contracts that 
typically provide predictable revenue streams. These contractual revenues,
though not recorded on the Company's balance sheet, will be available to help
meet the Company's liabilities as recorded at December 31, 1995. 

     Income generated by Twinsys has provided a significant, positive impact
upon the consolidated cash flow of the Company. However, the timing and amount
of cash transfers between Twinsys and the Company are subject to rules
governing dividend payments by French subsidiaries of multi-national
corporations, as well as practical considerations. The Company assesses the
working capital needs of its North American and European operations
periodically and determines appropriate allocations of cash throughout the
year. The Company expects to meet its other cash flow needs in 1996 through
payments of consulting revenues by existing customers, the addition of new
customers for backup, consulting and outsourcing services, as well as the
extension of payment terms on certain monthly expenses and other debt. The
Company will continue to seek more favorable terms for its remaining lease and
maintenance agreements as the Company's present agreements expire.

     Twinsys financed the acquisition of computer equipment needed for the
backup requirements of some of its largest customers through a capital lease
obligation totaling approximately $2,000,000 on April 1, 1996.  The Company
expects that after the installation of this equipment at Twinsys its computer
equipment should meet the technological requirements of current and 
prospective backup services customers in North America and Europe without the
need for any additional material capital expenditure during 1996. Twinsys is
expected to incur increased equipment expense in 1997 as leases negotiated in
1995 begin to expire and new leases take effect. 

     The Company has not generated new revenue in North America to offset the
loss of revenue upon the expiration of its two largest contracts in 1995 and
cannot currently predict when or if sufficient new revenues will be generated
to offset the loss. The Company's equipment costs associated with the new
backup services agreement for one of its North American customers 
significantly decreased during the last quarter of 1995, partially offsetting
the decrease in revenues.  However, as noted above, its overall equipment 
costs will increase in 1996 as a result of the computer equipment acquisition
at Twinsys.

     During 1994, an affiliate of Bull HN began offering backup services to
Bull computer users.  The increased competition to procure backup service
contracts adversely affected the Company's revenues in 1995, and is expected 
to adversely affect the Company's revenues in the future, pending the outcome
of litigation between the Company and Bull relating to competitive practices.
The litigation was subsequently settled during the third quarter of 1996.  See
Part II, Item 1 - "Legal Proceedings on Form 10QSB for the period ended
September 30, 1996.

Item 7.   Financial Statements.


                                       STRATEGIA CORPORATION AND SUBSIDIARY

<TABLE>

FINANCIAL INFORMATION

Consolidated Balance Sheet

<CAPTION>

                                                                    December 31
  Assets                                                               1995
<S>                                                                 <C>        

Current assets:                                                                
  Cash and cash equivalents                                        $   170,636 
  Accounts receivable                                                1,128,407
  Other current assets                                                 490,124
           Total current assets                                      1,789,167

Property and equipment                                              16,138,011
  Less accumulated depreciation and amortization                     7,376,653
                                                                     8,761,358

Other Assets                                                           237,222

                                                                   $10,787,747
                                                                               
  Liabilities and Stockholders' Equity                                         
                                                                               
Current liabilities:                                                           
  Current installments of long-term debt                           $   304,139
  Current installments of obligations under capital leases           1,858,755
  Notes payable to stockholders                                        991,176
  Accounts payable                                                     941,812
  Accrued income taxes                                                 133,630
  Accrued expenses and other current liabilities                       854,862
            Total current liabilities                                5,084,374

Long-term debt, excluding current installments                       1,024,356
Obligations under capital leases, excluding current installments     2,179,412
Customers' deposits                                                     58,253
Deferred revenue                                                       852,146
Deferred income taxes                                                  309,938
           Total liabilities                                         9,508,479

Stockholders' equity:
  Preferred stock without par value.  Authorized 2,000,000 shares: 
    Series A Convertible Preferred Stock ($10 stated value);
    authorized 100,000 shares; issued and outstanding 34,167 shares;
    liquidating value $467,144                                         341,670
  Common stock without par value.  Authorized 6,000,000 shares;
    issued and outstanding 2,506,885 shares                          3,029,833
  Accumulated deficit                                               (2,119,092)
  Foreign currency translation                                          26,857
           Total stockholders' equity                                1,279,268

Commitments and contingencies 
                                                                   $10,787,747
</TABLE>
See accompanying notes to consolidated financial statements.




                                       STRATEGIA CORPORATION AND SUBSIDIARY
<TABLE>
Consolidated Statements of Operations



<CAPTION>                                             Years ended December 31
                                                         1995           1994
<S>                                                <C>             <C>
Service revenue                                    $ 8,927,183     $ 4,615,535  
        

Operating expenses:
  Cost of services                                   5,394,518       3,161,718
  Selling, general and administrative expenses       2,434,906       1,053,324

                                                     7,829,424       4,215,042

          Operating income                           1,097,759         400,493

Other income (expense):
  Interest expense                                    (657,410)       (395,776)
  Other income, net                                     45,186           1,596

                                                      (612,224)       (394,180)

Income before income taxes                             485,535           6,313

Income taxes                                           443,568              

          Net income                               $    41,967     $     6,313


Income (loss) per common and common equivalent
   share                                                $   -         $   (.01)


Weighted average number of common and common
  equivalent shares outstanding                      2,493,603       2,418,792

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

                              STRATEGIA CORPORATION AND SUBSIDIARY
<TABLE>
Statements of Stockholders' Equity 

<CAPTION>
                Series A                                               Foreign  
             Preferred Stock       Common Stock         Accumulated   currency     
             Shares    Amount    Shares      Amount       deficit     translation        Total 

<S>          <C>      <C>        <C>         <C>         <C>          <C>           <C>         
 
January 1,
  1994       34,167   $341,670   2,362,885   $2,885,833  $(2,128,844)  $            $1,098,659
 
Issuance
  of common
  stock                            112,000      112,000                                112,000

Net income                                                     6,313                     6,313

December 31,
  1994       34,167   $341,670   2,474,885    $2,997,833 $(2,122,531)               $1,216,972

Issuance
  of common
  stock                             32,000        32,000                                32,000

Payments of
  dividends                                                   (38,528)                 (38,528)

Net income                                                     41,967                   41,967

Foreign 
  currency
  translation                                                              26,857       26,857

December 31,
  1995       34,167   $341,670   2,506,885    $3,029,833  $(2,119,092)    $26,857   $1,279,268

</TABLE>
See accompanying notes to financial statements.



                                       STRATEGIA CORPORATION AND SUBSIDIARY
<TABLE>
Statements of Cash Flows

<CAPTION>

                                                       Years ended December 31
                                                        1995            1994
<S>                                               <C>              <C>
Cash flows from operating activities:
  Net income                                      $    41,967      $    6,313
  Adjustments to reconcile net income to net
    cash provided by operating activities:
    Depreciation and amortization                   2,113,081       1,068,131
    Deferred income taxes                             309,938              
    Other                                              36,899           1,390
  Changes in operating assets and liabilities:
    Accounts receivable                            (1,005,638)         88,961
    Other current assets                             (390,975)        (20,821)
    Accounts payable                                  403,386        (159,429)
    Accrued income taxes                              133,630              
    Accrued expenses and other current liabilities    513,477         106,552
    (Increase) decrease in other assets              (124,202)         37,910
    Increase (decrease) in deferred revenue           652,691        (339,465)
    Increase (decrease) in customers' deposits         22,258         (17,226)

         Net cash provided by operating activities  2,706,512         772,316

Cash flows from investing activities:
  Acquisition of property and equipment              (488,735)        (46,331)
  Purchase of Twinsys                                (203,856)

         Net cash used in investing activities       (692,591)        (46,331)

Cash flows from financing activities:
  Proceeds from note payable to stockholder           500,000              
  Net proceeds from issuance of common stock                          100,000
  Proceeds from long-term debt                                         28,150
  Principal payments of long-term debt and
    obligations under capital leases               (2,413,360)       (793,366)
  Payments preferred dividend                         (38,528)             

         Net cash used in financing activities     (1,951,888)       (665,216)

Net increase in cash and cash equivalents              62,033          60,769

Cash and cash equivalents at beginning of year        108,603          47,834

Cash and cash equivalents at end of year          $   170,636      $  108,603

</TABLE>
See accompanying notes to financial statements.


                                       STRATEGIA CORPORATION AND SUBSIDIARY

Notes to Financial Statements


(1)  Basis of Presentation

     Strategia Corporation (Strategia) and its wholly-owned French subsidiary,
Twinsys Dataguard, S.A. (Twinsys), together referred to herein as "the
Company," is a major provider of hot site services for users of large-scale
Bull and IBM computers in North America and Bull and UNIX computers in Europe. 
The Company markets its services to corporate users of large-scale computers 
in the United States, Canada and Europe.

     The financial statements have been prepared on the basis of principles
applicable to a going concern.  This basis presumes the realization of assets
and a settlement of liabilities in the ordinary course of business.  As shown
in the accompanying financial statements, the Company has an accumulated
deficit of $2,119,092 at December 31, 1995.  In addition, the Company has
financed a large portion of its computer equipment that is used for backup
services under capital leases.  The current installments of obligations under
these capital leases were the most significant cause of current liabilities
exceeding current assets by $3,295,207 at December 31, 1995. 

     The Company's ability to operate as a continuing business is dependent
upon, among other things, the Company's maintaining profitable operations and
being able to meet its current obligations.

     The Company believes access to the European disaster recovery market
through Twinsys, as well as its continued intensified marketing effort, will
provide new opportunities for additional backup, outsourcing, and consulting
service revenues.  The Company plans to increase its utilization of its
facilities and computer equipment to support other computer services
opportunities.

     Management has obtained and will continue to seek more favorable terms 
for its lease and maintenance agreements in an effort to reduce the Company's
operating costs and liquidity deficiency.  The Company expects to meet its 
cash flow needs through payments of service revenues by existing customers, 
the addition of new customers for its backup, outsourcing, and consulting
services, as well as the extension of payment terms on certain monthly 
expenses and other debt.

(2)  Significant Accounting Policies

     (a)  Principles of Consolidation

          The consolidated financial statements include the accounts of
Strategia Corporation and Twinsys.  All significant intercompany accounts and
transactions have been eliminated in consolidation.

     (b)  Use of Estimates

          The preparation of the Company's consolidated financial statements 
in conformity with generally accepted accounting principles requires Company
management to make estimates and assumptions that affect the amounts reported
in these financial statements and accompanying notes.  Actual results could
differ from those estimates.

     (c)  Recognition of Revenue

          The Company provides backup recovery services through contracts 
whose terms are generally for more than one year and require the payment of
monthly subscription fees.  Service revenue from contracts is recognized on a
straight-line method over the life of the contract.  Deferred revenue
represents cash received in excess of the revenue recorded for multi-year
agreements to provide backup services to customers.  The Company also provides
consulting services.  Service revenue for consulting is recognized when
services are rendered.

     (d)  Property and Equipment

          Property and equipment are recorded at cost and consist of the
following at December 31, 1995:
<TABLE>
                   <S>                                <C>
                   Land                               $   260,800
                   Building and improvements            3,154,789
                   Equipment                           12,551,702
                   Other                                  170,720
                                                      $16,138,011
</TABLE>
          Depreciation of equipment is computed on the straight-line method
over the estimated useful life of the asset.  Leasehold improvements and
equipment under capital leases are amortized on the straight-line method over
the terms of the related leases or over the estimated useful life of the 
asset.

     (e)  Foreign Currency Translation

          The financial statements of Twinsys have been translated into U.S.
dollars in accordance with FASB Statement 52, Foreign Currency Translation. 
All balance sheet accounts have been translated using the exchange rates in
effect at the balance sheet date.  Amounts in the statements of operations 
have been translated using the average exchange rate for the year.  The gains
and losses resulting from the changes in exchange rates during the year have
been reported separately as a component of stockholders' equity.

     (f)  Income Per Share

          Income per share is based on net income less preferred dividends
divided by the weighted average number of common and equivalent shares
outstanding during the period.  Common stock equivalents outstanding are
calculated for stock options and warrants using the treasury stock method. 
Fully diluted per share amounts are not materially different from primary per
share amounts.

     (g)  Cash Equivalents

          Cash equivalents are highly liquid investments with a maturity of
less than three months when purchased.

     (h)  Stock Incentive Plans

          The Financial Accounting Standards Board has recently issued FASB
Statement 123, Accounting for Stock-Based Compensation.  FASB 123 encourages,
but does not require, companies to recognize compensation expense related to
the grants of stock or stock options to employees under plans such as the
Company's 1988 and 1990 Plans.  Companies choosing not to adopt FASB 123 will
continue to account for such grants using the accounting described by APB
Statement 25, Accounting for Stock Issued to Employees, but will be required 
to make certain disclosures about their plans, including proforma net income
and earnings per share under the new method.  The Company is first required 
to follow the rules of FASB 123 in 1996.  The Company expects to continue to
follow APB 25 for expense recognition and to make disclosures required by 
FASB 123.  Accordingly, the Company expects that FASB 123 will have no effect
on the Company's earnings or financial position.

     (i)  Financial Instruments

          The carrying amounts of the Company's financial instruments 
approximate their fair values as of December 31, 1995.

(3)  Acquisition

     On February 3, 1995, Dataguard purchased for approximately $200,000
certain operating assets and assumed certain liabilities of Twinsys, S.A., a
Paris, France-based provider of disaster recovery services in Europe. 
Dataguard financed the purchase with funds borrowed from EPI Corporation, the
Company's largest stockholder, under an amendment to an existing loan
agreement.  John P. Snyder, EPI's President and Chairman, is a director of 
the Company.  The acquisition was accounted for by the purchase method of
accounting.

(4)  Long-term Debt and Credit Agreements

     Long-term debt consists of the following at December 31, 1995:
<TABLE>

                                                                    December 31
                                                                       1995
<S>                                                                 <C>
          Mortgage note                                             $ 1,055,871

          Revolving credit agreements                                   120,000

          Promissory note                                               133,526

          Equipment notes                                                19,098
                                                                      1,328,495

          Less current installments                                     304,139

          Long-term debt, excluding current installments            $ 1,024,356
</TABLE>
     The mortgage note is payable in equal monthly installments through May 1,
2009; however, the lender has the option to accelerate payment on the entire
outstanding balance of the note at five year intervals throughout the note
term.  The next potential note acceleration date is May 1, 1999 and the 
current interest rate of 11% is fixed until that date.

     The Company has committed revolving credit facilities with two banks.  A
$100,000 credit agreement is committed through October 31, 1996, and provides
that borrowings will bear interest at the bank's prime rate plus 2%
(effectively 10.5% at December 31, 1995).  Borrowings under this credit
agreement are secured by substantially all domestic company assets, other 
than its real property and leased assets.  Credit agreements amounting to
$250,000 and $20,000 are committed by another bank.  The $250,000 agreement 
is committed through May 15, 1996 and is secured by a letter of credit issued
by the Company's bank in France.  Other current assets at December 31, 1995
include approximately $288,000 of restricted cash related to the letter of
credit.  This agreement bears interest on borrowings at prime plus 1%
(effectively 9.5% at December 31, 1995).  No amounts were borrowed under this
agreement at December 31, 1995.  The $20,000 agreement is committed through
February 28, 1996, and bears interest at prime plus 1%, and was fully
outstanding at December 31, 1995.  

     A promissory note was established on May 1, 1994 with a supplier.  The
note provides that interest, fixed at an annual rate of 11%, will accrue and
compound monthly on the total unpaid balance.  Monthly installments of $26,836
began in December 1995 and will continue through June 1996 until the entire
principal and interest amounts are paid.

     Equipment notes are payable to one bank in monthly installments through
November 1997.  Interest rates on these notes range from 10.0% to 10.5% and 
the notes are secured by equipment with a net book value of $16,596 as of
December 31, 1995.

     Aggregate maturities of long-term debt are $304,139 in 1996, $45,610 in
1997, $45,390 in 1998 and $933,356 in 1999.

(5)  Notes Payable to Stockholders

     During 1992, the Company entered into a $300,000 second mortgage 
agreement with a stockholder.  The original term of the agreement was ninety
days.  The agreement had been renewed for additional 90-day terms subsequent 
to the original term through December 31, 1994.  In January 1995, an $800,000
second mortgage agreement was entered into with this stockholder ($300,000 of
which represents an extension of the original loan as noted above).  The term
of the loan extends through April 10, 1996.  Interest on this amount is 
payable at an annual rate equal to the prime rate plus 1.5% (effectively 10% 
at December 31, 1995).  Interest expense of $80,242 and $25,750 was charged 
to 1995 and 1994 operations, respectively.  At December 31, 1995, accrued
interest recorded in the consolidated balance sheet related to these notes 
was $110,581.  The promissory note is secured by a second mortgage on the
Company's real property.  In consideration of this opportunity to borrow 
funds, the Company issued 15,000 shares of common stock to the stockholder in
connection with the initial agreement.  Additional share increments of common
stock (currently 8,000 shares) have been issued with each renewal (a total of
59,000 and 27,000 additional shares had been issued through December 31, 
1995 and 1994, respectively).  During January 1996, the Company renewed this
note at the same terms and conditions as the original note.  An additional
8,000 shares of common stock were issued to the stockholder in connection 
with this renewal.

     The Company has notes payable of $191,176 to certain stockholders. 
Interest is payable quarterly at an annual rate of 10%.  Interest expense of
$19,118 was charged to operations for the years ended December 31, 1995 and
1994 for these notes.  The notes were originally due in November 1992 but have
been renewed and are now due in December 1996 at the same terms and conditions
as the original notes.  

(6)   Leases

      The Company is obligated under various equipment capital leases that
expire over the next four years.  Property and equipment include the following
amounts under capital leases at December 31, 1995:
<TABLE>
<CAPTION>
                                                               December 31
                                                                   1995
<S>                                                            <C>
      Equipment                                                $ 7,297,047

      Less accumulated amortization                              2,083,064
                                                               $ 5,213,983
</TABLE>
      The Company acquired $4,831,746 and $186,174 of equipment in exchange 
for capital lease obligations during 1995 and 1994, respectively.

      The Company also has certain noncancellable operating leases, primarily
for computer hardware and software, that expire over the next five years and
provide for purchase or renewal options.

      Future minimum lease payments under capital leases and noncancellable
operating leases, and the present value of future minimum capital lease
payments as of December 31, 1995 are:
<TABLE>
<CAPTION>
                                             Capital      Operating
                                             leases         leases 
<S>                                         <C>           <C>
      Years ending December 31:
        1996                                $ 2,118,554    $   845,897  
        1997                                  1,611,728        779,982
        1998                                    680,910        745,846
        1999                                     25,080        745,846
        2000                                        -          279,692


      Total minimum lease payments            4,436,272    $ 3,397,264

      Less amount representing interest 
        (at rates ranging from 7.0% 
        to 11.35%)                              398,206
          Present value of net minimum
             capital lease payments           4,038,167
    
      Less current installments               1,858,755

        Obligations under capital 
          leases, excluding current 
          installments                      $ 2,179,412
</TABLE>
      Total rental expense, including maintenance charges, for operating 
leases in 1995 and 1994 was $1,947,904 and $1,534,976, respectively.

(7)  Income Taxes

       For financial reporting purposes, income before income taxes includes
the following components:
<TABLE>
<CAPTION>

                                               1995          1994
       Pretax income (loss):
<S>                                       <C>              <C>
      United States                       $  (713,298)     $  6,313
      Foreign                               1,198,833           -

                                          $   485,535      $  6,313
</TABLE>
      The provision for income tax expense in 1995 is attributable to earnings
from foreign operations, the components of which follows:
<TABLE>
      <S>                                 <C>
      Foreign - current                   $  133,630
              - deferred                     309,938

                                          $  443,568
</TABLE>
      A reconciliation of the income tax expense for the years ended December
31, 1995 and 1994 with the federal statutory rate is as follows:
<TABLE>
<CAPTION>
                                                   1995       1994
  <S>                                          <C>          <C>
  Tax expense at U.S. statutory rates          $  165,082   $  2,146

  Operating losses in the U.S. generating       
    no current tax benefit                        240,027        -

  Utilization of net operating loss
    carryforwards                                     -       (3,777)

  Higher effective income tax rate of
    foreign operations                             35,965        -

  Other                                             2,494      1,631
  
                                               $  443,568   $    -
</TABLE>
     Undistributed earnings of the Company's foreign subsidiary amounted to
$755,265 at December 31, 1995.  Those earnings are considered to be
indefinitely reinvested and, accordingly, no provision for U.S. federal income
taxes has been provided thereon.  Upon distribution of those earnings in the
form of dividends or otherwise, the Company would be subject to both U.S.
income taxes (subject to an adjustment for foreign tax credits) and 
withholding taxes payable to France.  Determination of the amount of
unrecognized deferred U.S. income tax liability is not practicable because of
the complexities associated with its hypothetical calculation.

     At December 31, 1995, the Company had U.S. net tax operating loss
carryforwards of approximately $3,340,000 for federal income tax reporting
purposes.  These carryforwards expire as follows:  $467,000 in 2000; $658,000
in 2001; $508,000 in 2002; $115,000 in 2004; $26,000 in 2005; $51,000 in 2006;
$435,000 in 2007; $649,000 in 2008; and $431,000 in 2010.

     Significant components of the Company's deferred tax assets (liabilities)
at December 31, 1995 are as follows:
<TABLE>
<CAPTION>
                                                                1995

       Deferred tax assets:
       <S>                                                 <C>
       Net operating loss carryforwards                    $  1,269,000
       Valuation allowance                                   (1,029,000) 
          Net deferred tax assets                               240,000

       Deferred tax liabilities:
         Tax over book depreciation                            (462,000)
         Other                                                  (87,938)
           Total deferred tax liabilities                   $  (549,938)
                                              
             Net deferred tax liability                     $  (309,938)
</TABLE>

(8) Stock Option and Grant Plans

     The Dataguard 1988 Stock Option Plan (as amended by stockholders in 1989)
allows for options to be granted to key employees of the Company to purchase 
no more than an aggregate of 150,000 shares of common stock at a price not 
less than 75% of the fair market value at the time the grant is approved. 
Options totaling 42,500 shares of common stock were granted to employees in
1995.  No options were granted to employees in 1994.  It also provides
automatic grants of stock options to the Company's directors who are not
employees.  Options to purchase 500 shares of common stock are granted 
annually to each nonemployee director.  In addition, each nonemployee director
who was not a director on May 15, 1989 will automatically be granted an option
for 2,500 shares of common stock on May 15 following his subsequent election. 
Options for nonemployee directors are granted at the fair market value of the
common stock on the grant date as determined by the Stock Option Committee of
the Board of Directors.

     Information pertaining to options for 1995 follows:
<TABLE>
<CAPTION>
                                                       Price Range
                                        Common Share   per Share 
          <S>                               <C>       <C>
          Options outstanding at
            January 1, 1995                 32,839    $1.00 - $3.50

          Options granted                   43,500    $1.26 - $1.38

          Options outstanding at
            December 31, 1995               76,339        $1.22

          Options exercisable -
            December 31, 1995               31,839        $1.22
</TABLE>
     All options granted under the plan are exercisable over a 10-year period. 
No options have been exercised as of December 31, 1995.  

     The Dataguard 1990 Stock Grant Plan authorizes the Company's Stock Option
Committee to grant up to 125,000 shares of common stock to key employees as
restricted or performance stock awards.  In 1990, grants of 4,075 shares of
common stock were issued under this plan.  No shares have been granted
subsequent to 1990.

(9) Preferred Stock

     In 1991, 100,000 shares of Series A Preferred Stock were authorized.  The
Company issued 16,667 shares of Series A Preferred Stock in 1992 and 17,500
shares in 1991.  This stock provides a cumulative preferred annual dividend of
11.5%, payable on a quarterly basis and before any payment of dividends on
common stock.  At December 31, 1995, dividends in arrears totaled $40,056. 
Each share of Series A Preferred Stock is convertible into four shares of
common stock, at an effective price of $2.50 per share of common stock, for a
period of five years following the date of issuance.

     The Series A Preferred Stock is also redeemable at the Company's option 
at a price of $11.15, if the average bid and asked price of the common stock
exceeds 150% of the then-effective conversion price of the Series A Preferred
Stock for twenty of thirty consecutive trading days.  No such restriction
applies to redemption after July 1, 1997.  This redemption price declines
gradually each year to $10 a share after December 31, 2001.

     The Series A Preferred Stock has a liquidation value of $12.50 per share,
plus any accrued but unpaid dividends upon the liquidation, dissolution, or
winding up of the affairs of the Company.  Holders of Series A Preferred Stock
have no voting rights except upon the occurrence of an event of default.

     The holders of Series A Preferred Stock also received a five-year warrant
to purchase two shares of common stock for each share of Series A Preferred
Stock purchased.  At December 31, 1995, warrants to purchase 34,167 shares of
common stock were outstanding at an exercise price of $4.50.

     Shares of common stock reserved with respect to all of the above options,
convertible preferred stock and warrants were 246,174 at December 31, 1995.

(10) Segment Information

     The Company and its subsidiary are engaged in one industry segment
consisting of providing disaster recovery and other computer related services
to users of large-scale computer systems.  

     Service revenue, operating income and identifiable assets for the years
ended December 31, 1995 and 1994 pertaining to the two geographic areas in
which the Company operates are presented below.

<TABLE>
<CAPTION>
                                 1995                         1994
Service revenue
  <S>                       <C>                          <C>
  United States             $  3,116,662                 $  4,615,535
  Europe                       5,810,152                          -

                            $  8,927,183                 $  4,615,535

Operating income (loss)

  United States             $   (309,781)                     400,493
  Europe                       1,407,540                           -  

                            $  1,097,759                 $    400,493

Identifiable total assets

  United States             $  4,717,216                 $  5,703,693
  Europe                       6,070,531                          -  

                            $ 10,787,747                 $  5,703,693
</TABLE>

     The net assets of Twinsys at December 31, 1995 amounted to approximately
$782,123.  

     In 1994, the Company had two customers, accounting for approximately 26%
and 15%, respectively, of consolidated service revenue, who individually
accounted for more than 10% of the Company's consolidated service revenue for
the year.  Neither customer accounted for 10% of the Company's consolidated
revenue in 1995.  The only customer who accounted for 10% of the Company's
consolidated service revenue in 1995 was a group of affiliated companies, 
which together accounted for approximately 13% of consolidated service 
revenue.

(11) Supplemental Cash Flow Information

     Total amount of interest paid was approximately $650,000 and $393,000 for
the years ended December 31, 1995 and 1994, respectively.  No cash payments
were made for income taxes during 1995 or 1994.

(12) Commitments and Contingencies

     The Company has an agreement with Copex Limited (a United Kingdom 
company) which was established  to recognize the assistance provided by Copex
in the acquisition of Twinsys.  The Company is to pay Copex 2% of the gross
revenues of Twinsys for the calendar years 1995 through 1999.  Other assets
include approximately $74,000 (net of amortization) as of December 31, 1995
related to the fee earned to date under this agreement.

     A former employee of Twinsys has filed a lawsuit against the Company
claiming certain severance benefits as a result of his dismissal.  The total
amount of the claim approximates 800,000 French francs (approximately
$160,000).  While the ultimate outcome of this lawsuit is unknown, the Company
believes it has meritorious defenses against the Claim and intends to
vigorously contest the lawsuit.

(13) Subsequent Event

     On March 7, 1996, Twinsys entered into a capital lease agreement for
computer equipment with the lease having a discounted present value of
approximately 10,000,000 French francs (approximately $2,000,000).  The lease
is for a three year term and requires monthly rental payments of 
approximately 430,000 French francs (approximately $86,000) in 1996 and 
monthly rental payments of 250,000 French francs (approximately $50,000) for
the remainder of the lease term.  This lease commitment is not included in 
Note 6.

(14) Reverse Stock Split and Change of Name

     On July 29, 1996 the 1-for-2 reverse stock split of its Common Stock and
its change of name from Dataguard Recovery Services, Inc. to Strategia
Corporation became effective.  As a result of the 1-for-2 reverse stock split,
every two of the Company's common shares outstanding at the effective time 
were automatically converted into one new common share of Strategia
Corporation.  The Company's name change and reverse stock split had been
approved by the shareholders at the Company's 1996 annual meeting on July 12,
1996.  All share and per share amounts have been restated for the reverse 
stock split.



                                       STRATEGIA CORPORATION AND SUBSIDIARY



Report of Independent Auditors



The Board of Directors and Stockholders
Strategia Corporation


We have audited the accompanying consolidated balance sheet of Strategia
Corporation and subsidiary as of December 31, 1995, and the related
consolidated statements of operations, stockholders' equity, and cash flows 
for each of the two years in the period ended December 31, 1995.  These
financial statements are the responsibility of the Company's management.  Our
responsibility is to express an opinion on these financial statements based on
our audits.  

We conducted our audits in accordance with generally accepted auditing
standards.  Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of
material misstatement.  An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements.  An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation.  We believe that our audits provide a reasonable basis
for our opinion.

In our opinion, the consolidated financial statements referred to above 
present fairly, in all material respects, the consolidated financial position
of Strategia Corporation and subsidiary at December 31, 1995, and the
consolidated results of their operations and their cash flows for each of the
two years in the period ended December 31, 1995, in conformity with generally
accepted accounting principles.  

The accompanying consolidated financial statements have been prepared assuming
that Strategia Corporation and subsidiary will continue as a going concern.  
As more fully described in Note 1, the Company has had a significant working
capital deficiency since inception, has incurred significant cumulative
losses from its inception through December 31, 1995, and has had recent 
adverse developments with respect to contracts with certain customers.  In 
view of these conditions, substantial doubt remains as to the Company's 
ability to continue as a going concern.  Management's plans in regard to these
matters are also described in Note 1.  The consolidated financial statements 
do not include any adjustments to reflect the possible future effects on the
recoverability and classification of assets or the amounts and classification
of liabilities that may result from the possible inability of Strategia
Corporation and subsidiary to continue as a going concern. 





Louisville, Kentucky
March 8, 1996

(except for Note 14, as to which the date is
July 29, 1996)


Item 13.  Exhibits, List, and Reports on Form 8-K.

         (a)   List of Exhibits Filed.

                  (3.1)   Amended and Restated Articles of Incorporation are
                          incorporated by reference to Exhibits 3.1 and 4.1 to
                          the Company's 10-QSB for the quarters ended June 30,
                          1996.

                  (3.2)  *Bylaws.

                  (4.1)   Amended and Restated Articles of Incorporation are
                          incorporated by reference to Exhibits 3.1 and 4.1 to
                          the Company's 10-QSB for the quarter ended June 30,
                          1996.

                  (4.2)   Form of Stock Purchase Warrant issued to holders of
                          Series A Preferred is incorporated by reference to
                          Exhibit 4.2 to the 1991 10-K.

                 (10.1)  *Promissory Note due December 31, 1996 from the
                          Company to Richard W. Smith.

                 (10.2)  *Promissory Note due December 31, 1996 from the
                          Company to James P. Buren.

                 (10.3)  *Promissory Note due December 31, 1996 from the
                          Company to EPI Corporation.

                 (10.4)  *Promissory Note due December 31, 1996 from the
                          Company to John A. Brenzel.

                 (10.5)   1988 Stock Option Plan is incorporated by reference
                          to Exhibit 10.7 to the 1994 10-KSB.

                 (10.6)   1990 Stock Grant Plan is incorporated by reference 
                          to Exhibit 10.8 to the 1994 10-KSB.

                 (10.7)  *Agreement of Assignment of Mortgage Note dated 
                          August 1, 1991, between Future Federal Savings 
                          Bank, Brown, Noltemeyer Co., Charles A. Brown, Jr.,
                          Norman V. Noltemeyer, and Dataguard Recovery 
                          Services, Inc.

                 (10.8)  *Mortgage Note dated April 3, 1984, from Brown,
                          Noltemeyer Co. to Future Federal Savings Bank, as
                          amended.

                 (10.9)   Security Agreement dated July 13, 1992 as amended
                          January 17, 1995 between the Company and EPI
                          Corporation is incorporated by reference to Exhibit
                          10.11 to the 1994 10-KSB.

                 (10.10)  Second Mortgage dated July 13, 1992 as amended
                          January 17, 1995 between the Company and EPI
                          Corporation is incorporated by reference to Exhibit
                          10.12 to the 1994 10-KSB.

                 (10.11) *Promissory note due April 10, 1996 between the
                          Company and EPI Corporation.

                 (10.12)  Revolving Credit Agreement dated July 1, 1992 with
                          Star Bank, N.A.

                 (10.13)  Extension of Revolving Credit Agreement dated 
                          October 31, 1995 with Star Bank, N.A.

                 (10.14)  Term Lease Master Agreement with IBM Credit
                          Corporation dated October 15, 1995.

                 (10.15)  Computer Lease Agreement dated July 12, 1995 between
                          Twinsys Dataguard SA and CEPME.

                 (11)     For a statement regarding the computations of per
                          share earnings (loss), see Note 2 of the Notes to 
                          the Consolidated Financial Statements.

                 (21)    *Subsidiaries.

                 (27)     Financial Data Schedule.

                 ___________________________
                 *Previously filed with the Company's 1995 10-KSB.

         (b)      Reports on Form 8-K.

                  None.



                                  SIGNATURES

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



                                             STRATEGIA CORPORATION


Date:  November 14, 1996
                                          By  /s/ Richard W. Smith              
     
                                             Richard W. Smith, President


Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed by the following persons in the capacities and on the
dates indicated.

<TABLE>
<CAPTION>
     Signature                            Title                       Date
<S>                             <C>                            <C>
/s/ Richard W. Smith        
Richard W. Smith                 President and Director          November 14,
1996
                                (Principal Executive Officer)   
                                (Principal Financial Officer) 
                                (Principal Accounting Officer)



/s/ James P. Buren            
James P. Buren                   Executive Vice President-       November 14,
1996
                                 Technology, Treasurer, and
                                 Director



/s/ John P. Snyder            
John P. Snyder                   Secretary and Director          November 14,
1996


/s/ John A. Brenzel          
John A. Brenzel                  Director                        November 14,
1996

</TABLE>



                               INDEX TO EXHIBITS

<TABLE>
<CAPTION>
Exhibit                                                                
Sequential                                                                Page
Number                           Description                             Number
<S>          <C>                                                         <C>

(3.1)         Amended and Restated Articles of Incorporation are
              incorporated by reference to Exhibits 3.1 and 4.1 to
              the Company's 10-QSB for the quarters ended June 30,
              1996.

(3.2)        *Bylaws.

(4.1)         Amended and Restated Articles of Incorporation are
              incorporated by reference to Exhibits 3.1 and 4.1 to
              the Company's 10-QSB for the quarter ended June 30,
              1996.

(4.2)         Form of Stock Purchase Warrant issued to holders of
              Series A Preferred is incorporated by reference to
              Exhibit 4.2 to the 1991 10-K.

(10.1)       *Promissory Note due December 31, 1996 from the
              Company to Richard W. Smith.

(10.2)       *Promissory Note due December 31, 1996 from the
              Company to James P. Buren.

(10.3)       *Promissory Note due December 31, 1996 from the
              Company to EPI Corporation.

(10.4)       *Promissory Note due December 31, 1996 from the
              Company to John A. Brenzel.

(10.5)        1988 Stock Option Plan is incorporated by reference
              to Exhibit 10.7 to the 1994 10-KSB.

(10.6)        1990 Stock Grant Plan is incorporated by reference 
              to Exhibit 10.8 to the 1994 10-KSB.

(10.7)       *Agreement of Assignment of Mortgage Note dated 
              August 1, 1991, between Future Federal Savings 
              Bank, Brown, Noltemeyer Co., Charles A. Brown, Jr.,
              Norman V. Noltemeyer, and Dataguard Recovery 
              Services, Inc.

(10.8)       *Mortgage Note dated April 3, 1984, from Brown,
              Noltemeyer Co. to Future Federal Savings Bank, as
              amended.

(10.9)        Security Agreement dated July 13, 1992 as amended
              January 17, 1995 between the Company and EPI
              Corporation is incorporated by reference to Exhibit
              10.11 to the 1994 10-KSB.

(10.10)       Second Mortgage dated July 13, 1992 as amended
              January 17, 1995 between the Company and EPI
              Corporation is incorporated by reference to Exhibit
              10.12 to the 1994 10-KSB.

(10.11)      *Promissory note due April 10, 1996 between the
              Company and EPI Corporation.

(10.12)       Revolving Credit Agreement dated July 1, 1992 with
              Star Bank, N.A.

(10.13)       Extension of Revolving Credit Agreement dated 
              October 31, 1995 with Star Bank, N.A.

(10.14)       Term Lease Master Agreement with IBM Credit Corporation
              dated October 15, 1995.

(10.15)       Computer Lease Agreement dated July 12, 1995 between Twinsys
              Dataguard SA and CEPME.

(11)          For a statement regarding the computations of per
              share earnings (loss), see Note 2 of the Notes to 
              the Consolidated Financial Statements.

(21)         *Subsidiaries.

(27)          Financial Data Schedule.

                 ___________________________
                 *Previously filed with the Company's 1995 10-KSB.





</TABLE>