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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                   
                                  FORM 10-QSB
                                  -----------

(X) QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
    OF 1934 (Fee Required)

                 For the quarterly period ended March 31, 1997

( )  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 0-15179


                              NEUROTECH CORPORATION
                 ----------------------------------------------
                 (Name of small business issuer in its charter)


            DELAWARE                                       06-1100063
     -----------------------                           -------------------
     (State of incorporation                           (I.R.S. Employer 
          or organization)                             Identification No.)


 45 ORCHARD STREET, MANHASSET, NEW YORK                        11030
----------------------------------------                   -------------
(Address of principal executive offices)                     (Zip Code)


                    Issuer's telephone number: (516) 869-9663


                                 NOT APPLICABLE
               --------------------------------------------------
               (Former name, former address and former fiscal year
                          if changed since last report)

     Check whether the issuer (1) filed all reports required to be filed by
Section 13 of 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 ( )
                                     ---    ---

     24,155,748 shares of issuer's common stock, $.01 par value, were
outstanding at June 30, 1996.

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<PAGE>

                     NEUROTECH CORPORATION AND SUBSIDIARIES

                                     INDEX

                                 MARCH 31, 1997

                                                                         Page
                                                                         ----
PART I - FINANCIAL INFORMATION

Item 1.  FINANCIAL STATEMENTS

         Consolidated balance sheet .............................    3 & 4
           March 31, 1997

         Consolidated statements of income ......................      5
           Three months ended
           March 31, 1997 and 1996

         Consolidate statements of income .......................      6
           Nine months ended
           March 31, 1997 and 1996

         Consolidated statements of cash flows ..................      7
           Three months ended
           March 31, 1997 and 1996

         Consolidated statements of cash flows ..................      8
           Nine months ended
           March 31, 1997 and 1996

         Notes to consolidated financial statements .............      9
           March  31, 1997

Item 2.  MANAGEMENT'S DISCUSSION & ANALYSIS OF ..................   10 & 11
         FINANCIAL CONDITION & RESULTS OF OPERATION

PART II - OTHER INFORMATION .....................................     12

SIGNATURES ......................................................     13


<PAGE>


                     NEUROTECH CORPORATION AND SUBSIDIARIES

                           CONSOLIDATED BALANCE SHEET
                                  (Unaudited)

                                               March 31          June 30
                                                 1997              1996
                                              ----------        ----------
ASSETS

CURRENT ASSETS

Cash and cash equivalents ..................  $   98,647        $  277,339
  Patient accounts receivable, net .........   1,332,072         1,124,059
  Estimated third-party settlements ........                        19,477
  Inventory and supplies ...................     342,886           357,848
  Other current assets .....................      69,488            21,125
                                              ----------        ----------
       Total current assets ................   1,843,093         1,799,848
PROPERTY AND EQUIPMENT .....................   2,022,372         2,150,004
OTHER ASSETS ...............................      47,252            17,430
                                              ----------        ----------
TOTAL ASSETS ...............................  $3,912,717        $3,967,282
                                              ==========        ==========


The accompanying notes to the consolidated financial statements are an integral
part of these statements and should also be read in conjunction with those notes
which accompanied the Company's annual report.

<PAGE>

                                                March  31         June 30
                                                  1997             1996
                                                ---------         --------
LIABILITIES AND STOCKHOLDERS'
EQUITY (DEFICIT)

CURRENT LIABILITIES
   Notes payable ...........................  $  683,124        $  514,692
   Current maturities of long-term debt ....   1,778,412         1,843,606
   Current maturities of capital lease
     obligations ...........................      33,606            32,219
   Accounts payable ........................     455,055           489,712
   Accounts payable - related party ........     122,511            80,711
   Accrued expenses ........................     681,355           584,599
                                              ----------        ----------
      Total current liabilities ............   3,754,063         3,545,539

LONG-TERM DEBT .............................     490,391           553,435

CAPITAL LEASE OBLIGATION ...................      35,837            45,307

STOCKHOLDERS' EQUITY (DEFICIT)
  Common stock, par value $0.01 per share;
    40,000,000 shares authorized;
    24,155,748 shares outstanding ..........     241,558           241,558
  Additional paid-in capital ...............   4,136,256         4,136,256
  Retained (deficit) .......................  (4,595,388)       (4,404,813)
                                              ----------        ----------
                                              (  217,574)       (   26,999)

  Less 100,000 shares of treasury stock
    at cost ................................  (  150,000)       (  150,000)
                                              ----------        ----------
      Total stockholders' equity (deficit) .  (  367,574)       (  176,999)
                                              ----------        ----------
   TOTAL LIABILITIES AND STOCKHOLDERS'
     EQUITY (DEFICIT) ......................  $3,912,717        $3,967,282
                                              ==========        ==========

The accompanying notes to the consolidated financial statements are an integral
part of these statements and should also be read in conjunction with those notes
which accompanied the company's annual report.


<PAGE>

                     NEUROTECH CORPORATION AND SUBSIDIARIES

                     CONSOLIDATED STATEMENTS OF OPERATIONS
                                  (Unaudited)

                                                    Three Months Ended
                                                         March 31
                                                --------------------------
                                                   1997            1996
                                                ----------      ----------
NET PATIENT SERVICE REVENUES ................   $1,883,977       $  -0-

EXPENSES
   Salaries and benefits ....................    1,003,483
   Medical supplies and drugs ...............      306,493
   Administrative ...........................      207,903          17,016
   Equipment rental .........................       32,506
   Contract services ........................       44,545
   Provision for bad debts ..................      216,451
   Depreciation and amortization ............       50,760       
                                                ----------      ----------
       Total expenses .......................    1,862,141          17,016
                                                ----------      ----------
       Operating income (loss) ..............       21,836      (   17,016)

OTHER INCOME (EXPENSE)
   Miscellaneous income .....................       33,013
   Interest expense .........................      109,081
                                                ----------      ----------
   Loss from continuing operations ..........  (    54,232)        (17,016)
   Loss from discontinued operations ........  (     2,775)     (   79,605)
                                                ----------      ----------
       Net Loss .............................  ($   57,007)     ($  96,621)
                                                ==========      ==========
Income (loss) per share from
 continuing operation .......................         --              --
Income (loss) per share from
 discontinued operations ....................         --              --
                                                ----------      ----------
       Net loss per share ...................         --              --
                                                ==========      ==========  
Weighted average number of common
  shares outstanding ........................   24,155,748      20,908,748
                                                    
                                                  
The accompanying notes to the consolidated financial statements are an integral
part of these statements and should also be read in conjunction with those notes
which accompanied the Company's annual report.


<PAGE>

                     NEUROTECH CORPORATION AND SUBSIDIARIES

                     CONSOLIDATED STATEMENTS OF OPERATIONS
                                  (Unaudited)

                                                  Nine Months Ended
                                                      March 31
                                             ---------------------------
                                                 1997            1996
                                             -----------      ----------
NET PATIENT SERVICE REVENUES .............    $5,661,904      $    -0-

EXPENSES
   Salaries and benefits .................     3,206,635
   Medical supplies and drugs ............       873,336
   Administrative ........................       681,654         123,711
   Equipment rental ......................        91,284
   Contract services .....................       185,247
   Provision for bad debts ...............       448,615
   Depreciation and amortization .........       152,499      
                                             -----------      ----------
       Total expenses ....................     5,639,270         123,711
                                             -----------      ----------
       Operating income (loss) ...........        22 634        (123,711)

OTHER INCOME (EXPENSE)
   Miscellaneous income ..................       123,031
   Interest expense ......................       302,305
                                             -----------      ----------
   Loss from continuing operations .......   (   156,640)     (  123,711)
   Loss from discontinued operations .....   (    33,935)     (  141,585)
                                             -----------      ----------
       Net Loss ..........................   ($  190,575)     ($ 265,296)
                                             ===========      ==========
Income(loss)persharefrom
continuing operation .....................   ($      .01)
Income (loss) per share from
 discontinued operations .................                    ($     .01)
                                             -----------      ----------
       Net Income (loss) per share .......   ($      .01)     ($     .01)
                                             ===========      ==========
Weighted average number of common
shares outstanding .......................    24,155,748      20,008,748


The accompanying notes to the consolidated financial statements are an integral
part of these statements and should also be read in conjunction with those notes
which accompanied the Company's annual report.


<PAGE>

                     NEUROTECH CORPORATION AND SUBSIDIARIES

                     CONSOLIDATED STATEMENTS OF CASH FLOWS
                                  (Unaudited)

                                                     Three Months Ended
                                                          March 31
                                                 --------------------------
                                                   1997              1996
                                                 ---------        ---------
CASH FLOWS FROM OPERATING ACTIVITIES
   Net income (loss) ..........................  $( 57,007)      ($  96,621)
   Adjustments to reconcile net income
      (loss) to net cash used in operating
      activities:

   Depreciation and amortization ..............     50,760
   Provision for bad debts ....................    216,451
   Increase in accounts receivable ............   (148,704)
   Increase in inventory and other
     current assets ...........................   ( 38,259)
   Decrease in accounts payable and
     accrued expenses .........................   ( 12,987)       (  80,572)
   Increase in other assets ...................   (  1,275)
   Discontinued operations ....................                      13,243
                                                 ---------        ---------
Net cash provided (used) in operating              
   activities .................................      8,979         (163,950)
                                                 ---------        ---------
CASH FLOWS FROM INVESTING ACTIVITIES
   Book value of equipment sold ...............
   Purchase of property and equipment .........
                                                 ---------        ---------
Net cash used in investing activities .........
                                                 ---------        ---------
CASH FLOWS FROM FINANCING ACTIVITIES
   Common stock issued for services
     and debt repayment .......................                     163,950
   Proceeds notes payable and capital               
     lease obligations ........................     36,611
   Payments on note payable and capital
     lease obligations ........................   ( 21,714)       
                                                 ---------        ---------
Net cash provided by financing activities .....     14,897          163,950
                                                 ---------        ---------
Net increase in cash and cash equivalents .....     23,876              --
Cash and cash equivalents, beginning
  of period ...................................     74,771              --
                                                 ---------        ---------
Cash and cash equivalents, end of period ......  $  98,647        $     -0-
                                                 =========        =========

The accompanying notes to the consolidated financial statements are an integral
part of these statements and should also be read in conjunction with those notes
which accompanied the Company's annual report.

<PAGE>

                     NEUROTECH CORPORATION AND SUBSIDIARIES

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                  (Unaudited)

                                                         Nine Months Ended
                                                             March 31
                                                    -------------------------
                                                       1997            1996
                                                    --------         --------
CASH FLOWS FROM OPERATING ACTIVITIES
  Net income (loss) .............................  ($190,575)       ($265,296)
  Adjustments to reconcile net income
    (loss) to net cash used in operating
    activities:

  Depreciation and amortization .................    152,499
  Provision for bad debts .......................    448,615
  Increase in accounts receivable ...............   (656,628)
  Increase in inventory and other
    current assets ..............................   ( 13,924)
  Increase (decrease) in accounts payable
    and accrued expenses ........................    103,899          (11,969)
  Increase in other assets ......................   ( 29,822)
  Discontinued operations .......................                     113,315
                                                    --------         --------
Net cash used in operating activities ...........   (185,936)        (163,950)
                                                    --------         --------
CASH FLOWS FROM INVESTING ACTIVITIES
  Book value of equipment sold ..................      3,684
  Purchase of property and equipment ............   ( 28,551)        
                                                    --------         --------
Net cash used in investing activities ...........   ( 24,867)       
                                                    --------         --------
CASH FLOWS FROM FINANCING ACTIVITIES
  Common stock issued for services
    and debt repayment                                                163,950
  Proceeds notes payable and capital ............    168,432
    lease obligations
  Payments on note payable and capital
    lease obligations ...........................   (136,321)        
                                                    --------         --------
Net cash provided by financing activities .......     32,111          163,950
                                                    --------         --------
Net decrease in cash and cash equivalents .......  ( 178,692)            --
Cash and cash equivalents, beginning
  of period .....................................    277,339             --
                                                    --------         --------
Cash and cash equivalents, end of period ........   $ 98,647         $   -0-
                                                    ========         ========

The accompanying notes to the consolidated financial statements are an integral
part of these statements and should also be read in conjunction with those notes
which accompanied the Company's annual report.




<PAGE>

                     NEUROTECH CORPORATION AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 1997
                                  (Unaudited)

NOTE A - BASIS OF PRESENTATION

     The accompanying unaudited consolidated financial statements have been
     prepared in accordance with generally accepted accounting principles for
     interim financial information and the instruction to Form 10-QSB and
     article 10 of Regulation S-X. Accordingly, they do not include all
     information and footnotes required by generally accepted accounting
     principles for complete financial statements. In the opinion of management,
     all adjustments considered necessary for a fair presentation have been
     included. Operating results for the nine month period ended March 31, 1997
     are not necessarily indicative of results that may be expected for the year
     ending June 30, 1997. For further information, refer to the consolidated
     financial statements and footnotes, thereto included in the Company's
     annual report on Form 10-KSB for the year ended June 30, 1996.

     In August 1996, the Company determined to discontinue its previous core
     business, manufacturing intracranial pressure monitoring systems, custom
     delay lines and visual systems. The operations of these previous core
     businesses are reported as discontinued operations.


<PAGE>

                     NEUROTECH CORPORATION AND SUBSIDIARIES

               Management's Discussion and Analysis of Financial
                      Condition and Results of Operations

     In August 1996 the Company abandoned its previous core businesses,
manufacturing intracranial pressure monitoring systems, custom delay lines and
visual systems, as the Company believed they were no longer viable business
pursuits. The Company through its subsidiary, Global Health Enterprises, Inc,
operates an acute care hospital, Lakes Regional Medical Center, and it's
affiliated home health care agency in Jasper, Texas. The Company has chosen to
concentrate its future efforts to expanding its medical related businesses.

     The Company reported a net loss of $57,007 for the three months ended March
31, 1997 as compared to a net loss of $96,621 for the three months ended March
31, 1996.

     In comparing the results of operations for the two periods, losses from
discontinued operations for the three months ended March 31, 1997 and 1996 were
$2,775 and $79,605 respectively. The consolidated operating results of Global
for the three months ended March 31, 1997 was a net loss of $16,995. The
remaining loss from operations of $37,237 was made up of Company general and
administrative expenses.

     The Company reported a net loss af $190,575 for the nine months ended March
31, 1997 as compared to a net loss of $265,296 for the nine months ended March
31, 1996.

     In comparing the results of operations for the two periods, losses from
discontinued operations for the nine months ended March 31, 1997 and 1996 were
$33,935 and $141,585 respectively. The consolidated operating results of Global
for the nine months ended March 31, 1997 was a net loss of $53,987. The
remaining net loss from operations of $102,653 was made up of Company general
and administrative expenses.

     As stated above Global's operating result for the quarter ended March 31,
1997 was a net loss of $16,995 as compared to a net income of $73,063 for the
quarter ended December 31, 1996 and a net loss of $110,055 for the quarter ended
September 30, 1996. The quarter ended March 31, 1997 reflects significantly
lower salary and benefit expense, but increased expense in the provision for bad
debts while revenues decreased marginally; all this had the effect of a
performance poorer than the quarter ended December 31, 1996 but still stronger
than the quarter ended September 30, 1996.


<PAGE>

     Global, in connection with the acquisition of Lakes acquired over
$2,700,000 in debt service; $1,685,000 of this debt service is owed to the Bank
of America. The credit extension from the Bank of America has numerous negative
covenants, of which Global is currently in default of several of the covenants.
Bank of America has not called the loan, as the Company is attempting to
restructure this debt.

     The Company does not have the capital resources and liquidity necessary to
meet all of the obligations, debt repayments, and commitments of the Company
during the next twelve months. The Company's viability is dependent on its
ability to enter new markets in the medical field and to restructure its debt.


<PAGE>

                     NEUROTECH CORPORATION AND SUBSIDIARIES

                               OTHER INFORMATION

ITEM 1    Legal Proceedings

          No new legal proceedings or material development has occurred in this
          quarter. For further information regarding pending legal proceedings,
          refer to the Company's annual report on Form 10-KSB for the year ended
          June 30, 1996

ITEM 2-5  Inapplicable

ITEM 6    Exhibits and Reports on Form 8-K

          (a)  Exhibits
               None

          (b)  Reports on Form 8-K
               None


<PAGE>

                     NEUROTECH CORPORATION AND SUBSIDIARIES

                                   SIGNATURES

     In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                      NEUROTECH CORPORATION

                                      BY: /s/  BERNARD ARTZ
                                         ----------------------------------
                                         CHAIRMAN OF THE BOARD

Date: June 5, 1997