UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

                QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                  FOR THE QUARTERLY PERIOD ENDED JUNE 30, 1999


                                     0-13738
                             ----------------------
                             Commission File Number


                             THE SAINT JAMES COMPANY
             ------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)


 Delaware                                                 52-1426581
------------------------                                 ----------------
(State of Incorporation)                                 (I.R.S. Employer
                                                          ID No.)

                               1104 Nueces Street
                               ------------------
                            Austin, Texas 78701-2128
                            ------------------------
                                 (512) 671-3858
                                 --------------
          (Address and Telephone Number of Principal Executive Offices)


                                   Copies to:
                              Courtneay Draker, Esq
                      Schroeder, Walthall and Nevill, LLP
                             1100 Louisiana Street
                                   Suite 4850
                               Houston, TX 77002
                             Phone: (713) 654-9100

         Indicate by check mark whether the  registrant  has filed all documents
and  reports  required  to be filed by  Sections  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 [ ] No [ X ]

         The number of shares of  Registrant's  Common Stock  outstanding  as of
June 30, 1999, was 999,057.


<PAGE>

                             THE SAINT JAMES COMPANY

                                      INDEX

Part 1.  Financial Information

Item                                                       Page No.

BALANCE SHEETS                                                3
         Year Ended December 31, 1998 and
         Three Months Ended March 31, 1999 and
         Six Months Ended June 30, 1999

INCOME STATEMENT                                              5
         Year Ended December 31, 1998 and
         Three Months Ended March 31, 1999 and
         Six Months Ended June 30, 1999

CASH FLOWS FROM  OPERATING  ACTIVITIES                        6
         Year Ended  December  31, 1998 and
         Three Months Ended March 31, 1999 and
         Six Months Ended June 30, 1999


RETAINED EARNINGS STATEMENT                                   7
         Year Ended December 31, 1998 and
         Three Months Ended March 31, 1999 and
         Six Months Ended June 30, 1999


Part 2.  Other Information                                   13



<PAGE>


                            THE SAINT JAMES COMPANY

                                  Balance Sheet

---------------------------------------------------------------
                                      Three Months   Six Months
                        Year Ended    Ended          Ended
                        December 31,  March 31,      June 30,
                        1998          1999           1999
----------------------  ------------  ------------  ------------
Assets
----------------------  ------------  ------------  ------------
Current Assets
----------------------  ------------  ------------  ------------
     Property
     Plant
     Equipment                  0             0             0
----------------------  ------------  ------------  ------------
Total Assets                    0             0             0
======================  ============  ============  ============
Liabilities and
Shareholders' Equity
----------------------  ------------  ------------  ------------
Current Liabilities
----------------------  ------------  ------------  ------------
Accrued Interest
Payable                     1,115.67        278.92        557.84
----------------------  ------------  ------------  ------------
Total Current
Liabilities                 1,115.67        278.92        557.84
----------------------  ------------  ------------  ------------
Interest Payable            6,392.06      7,507.73      7,507.73
----------------------  ------------  ------------  ------------
Judgments Payable          11,156.78     11,156.78     11,156.78
----------------------  ------------  ------------  ------------
Total Long Term
Liabilities                17,548.84     18,664.51     18,664.51
----------------------  ------------  ------------  ------------
Total Liabilities          18,664.51     18,943.43     19,222.35
----------------------  ------------  ------------  ------------
Shareholders' Equity
----------------------  ------------  ------------  ------------
Common Stock                9,977         9,977         9,977
----------------------  ------------  ------------  ------------
Paid-In Capital
In Excess of Par Value  3,460,568.00  3,460,568.00  3,460,568.00
----------------------  ------------  ------------  ------------
Sub-Total               3,461,567.00  3,461,567.00  3,461,567.00
----------------------  ------------  ------------  ------------
Retained Earnings
----------------------  ------------  ------------  ------------
Retained Earnings,
Restricted                (11,156.75)   (11,156.75)   (11,156.75)
----------------------  ------------  ------------  ------------
Retained Earnings,
(Deficit)              (3,469,074.73)(3,469,353.65)(3,469,632.57)
----------------------  ------------  ------------  ------------
Total Retained
Earnings               (3,480,231.48)(3,480,510.40)(3,480,789.32)
----------------------  ------------  ------------  ------------
Total Shareholders'
Equity                   (18,664.48)    (18,943.40)   (19,222.32)
======================  ============  ============  ============
                              $0             $0            $0
----------------------  ------------  ------------  ------------

*See report and footnotes following tables.



                                       3

<PAGE>

                             THE SAINT JAMES COMPANY

                                Income Statement

---------------------------------------------------------------------
                      Year Ended     Three Months     Six Months
                      December 31,   Ended March 31,  Ended June 30,
                      1998           1999             1999
------------------  ---------------  ---------------  ---------------
Revenues                    0               0                0
------------------  ---------------  ---------------  ---------------
Operating Expenses
------------------  ---------------  ---------------  ---------------
Interest Expense        1,115.67          278.92           278.92
------------------  ---------------  ---------------  ---------------
Total Operating
Expense                 1,115.67          278.92           278.92
------------------  ---------------  ---------------  ---------------
Net Income (Loss)      (1,115.67)        (278.92)         (278.92)
------------------  ---------------  ---------------  ---------------
Earnings Per Share        Nil              Nil              Nil
---------------------------------------------------------------------


*See report and footnotes following tables.


                                       4

<PAGE>



                             THE SAINT JAMES COMPANY

                               Cash Flow Statement

------------------------------------------------------------------------
                         Year Ended     Three Months      Six Months
                         December 31,   Ended March 31,   Ended June 30,
                         1998           1999              1999
---------------------  ---------------  ---------------  ---------------
Cash Flows from
Operating
Activities
---------------------  ---------------  ---------------  ---------------
Net Income (Loss)         (1,115.67)         (278.92)         (278.92)
---------------------  ---------------  ---------------  ---------------
Adjustment to
Reconcile
Net Income (Loss)
to Net Cash
Provided by
Operating
Activities                     0                0                0
---------------------  ---------------  ---------------  ---------------
Cash Flow
Provided from
Operating
Activities                (1,115.67)         (278.92)         (278.92)
---------------------  ---------------  ---------------  ---------------
Cash Flows From
Investing
Activities                     0                0                0
---------------------  ---------------  ---------------  ---------------
Cash Flow From
Financing
Activities
---------------------  ---------------  ---------------  ---------------
     Interest Payable      1,115.67           278.92           278.92
---------------------  ---------------  ---------------  ---------------
Cash Flow
Provided From
Financing
Activities                     0                0                0
---------------------  ---------------  ---------------  ---------------
Net Increase
(Decrease) to Cash             0                0                0
---------------------  ---------------  ---------------  ---------------
Cash at the
Beginning of
     The Period                0                0                0
---------------------  ---------------  ---------------  ---------------
Cash at the End of
the Period                     0                0                0
---------------------  ---------------  ---------------  ---------------


*  See reports and footnotes following tables.

                                       5

<PAGE>



                             THE SAINT JAMES COMPANY
                           Retained Earnings Statement

--------------------------------------------------------------------------
                      Year Ended       Three Months        Six Months
                      December 31,     Ended March 31,     Ended June 30,
                      1998             1999                1999
-----------------  -----------------  -----------------  -----------------
Balance Beginning
of Period, Before
Restricted           (3,467,959.06)     (3,469,074.73)     (3,469,353.65)
-----------------  -----------------  -----------------  -----------------
Net Income (Loss)        (1,115.67)           (278.92)           (278.92)
-----------------  -----------------  -----------------  -----------------
Sub-total            (3,469,074.73)     (3,469,353.65)     (3,469,632.57)
-----------------  -----------------  -----------------  -----------------
Retained Earnings
Restricted              (11,156.75)        (11,156.75)        (11,156.75)
-----------------  -----------------  -----------------  -----------------
Balance End of
Period               (3,480,231.48)     (3,480,789.32)     (3,480,789.32)
-----------------  -----------------  -----------------  -----------------

*  See report and footnotes following tables.


                                       6

<PAGE>


                             THE SAINT JAMES COMPANY
                          Notes to Financial Statements

Note A:   Summary of Significant Accounting Policies

     Nature of Operations
     --------------------

     The principal  purpose of the company is to design,  manufacture,  sell and
service  equipment  and  systems for the  treatment  of  contaminated  insoluble
organic  solid   materials.   The  Company  has  developed  and  marketed  ozone
technologies.

     Property, Plant and Equipment
     -----------------------------

     Property, plant and equipment have been recorded at cost and/or development
cost.  Components  which were no longer used in testing and marketing  processes
were removed from property, plant and equipment and written off as a loss.

     Depreciation
     ------------

     Depreciation  was  computed  on the  straight  line  method  for  financial
statement  purposes and the accelerated  method for income tax purposes over the
estimated useful lives of the assets.

     Research and Development Costs
     ------------------------------

     Research and development costs were expensed as incurred.

     Income Taxes
     ------------

     No  provision  for income  taxes,  either  accrued or  deferred,  have been
reported in the financial  statements  because the Company has incurred only net
operating losses.

     Earnings (losses) Per Share
     ---------------------------

     The weighted  average of shares  outstanding  method is used in calculating
earnings (losses) per share.

Note B:   Organization of Company

     Chem-Waste Corporation was incorporated on January 10, 1984, under the laws
of the State of North  Carolina.  The  charter  authorized  20,000,000  share of
common stock with a par value of $1.00 per share.

     On July 19, 1984, the name of the Company was changed to Radiation Disposal
Systems,  Inc.,  by  amendment to the Charter of  Incorporation  in the State of
North Carolina.

     On  September,  13, 1984,  the Company was  authorized  by amendment to the
Articles of Incorporation 1,500,000 preferred stock,  nonvoting,  noncumulative,
$.50 par value per share, 10%  noncumulative  dividend,  callable at 105% of par
value,  and  convertible  into  common  stock on a share  for share  basis.  The
amendment of articles granted the issuance of warrants.

     On October 9, 1984, the Company was authorized by amendment to the Articles
of  Incorporation  to change  the par value of the  common  stock from $1.00 per
share to $.001 per share.

                                       7

<PAGE>

     In January  1985,  the  Company  conducted a public  offering of  2,700,000
common shares for $1.25 per share.  The underwriter was given warrants which are
exercisable  over a four year period  beginning  June 1986, to purchase  270,000
common stock shares at $1.50 per share.

     In June 1987, 100,000 preferred stock shares were converted to common stock
shares on a share for share basis.

     In August 1987,  550,000  preferred  stock shares were  converted to common
stock shares on a share for share basis.

     On July 1, 1988,  the  articles  were  amended  for  denial of  presumptive
rights, "The Shareholders of the Corporation shall have no presumptive rights to
acquire additional or treasury shares of the Corporation."

     In July and September  1988, the warrants were exercised at $1.50 per share
for common stock.

     On July 14, 1990, the Articles of Incorporation of the Company were amended
by adding a new Article designed as Article X, to read as follows:

                                    Article X

        To the fullest extent  permitted by the North  Carolina  Business
        Corporation  Act as it  exists or may  hereafter  be  amended,  a
        director of the  Company  shall not be  personally  liable to the
        Company,  its  shareholders or otherwise for monetary damages for
        breach of his duty as a director.  Any repeal or  modification of
        this Article X shall be prospective  only and shall not adversely
        affect any limitation on the personal  liability of a director of
        the Company  existing at the time of such repeal of modification.
        On September 21, 1998,  10,000,000  shares of Radiation  Disposal
        Systems,  Inc.,  were traded for 1,000,000  authorized  shares of
        Asset  Technology  International,  Inc. The shares of  Technology
        International,  Inc.,  were  canceled.  At the time of the  stock
        exchange,   Technology   International,   Inc.,  had  no  assets,
        liabilities or capital. The company was completely dormant.

     On October 13, 1998,  The Saint James  Company was  incorporated  under the
laws of the State of Delaware. The purpose of the Corporation shall be to engage
in any lawful activities.

     In November 1998,  Radiation Disposal Systems,  Inc.,  exchanged all of its
outstanding  shares  with The Saint James  Company.  The effect is to change the
name of Radiation Disposal Systems,  Inc., into The Saint James Company,  and to
change the domicile from the State of North Carolina to the State of Delaware.

     On November 19, 1998,  Radiation  Disposal  Systems,  Inc.,  was granted an
increase from 20,000,000  common shares par value $.001 authorized to 50,000,000
common shares when authorized par value $.001.

     On November 19, 1998, the Articles of  Incorporation  were amended to allow
for a 20-1 reverse  split of the common stock for  Radiation  Disposal  Systems,
Inc.

                                       8

<PAGE>

Note C:   Accrued Interest Payable and Interest Payable

     The Company has two judgments against it (See Note D) that require interest
to be paid on those  judgments.  The accrued  interest  payable  represents  the
current year or period interest owed. The interest payable  represents  interest
owed from prior years that has not been paid.

Note D:   Judgments Payable (Litigation)

     Thomas  Publishing  Company holds a consent judgment dated May 5, 1995. The
date of the interest as stated in the judgment is to start December 13, 1993.

         Sum of Judgment, 18% per annum                     $ 3,265.00
         Interest prior to December 13, 1993                $ 1,450.00
         Collection cost, 8% per annum                      $ 1,178.78
         -------------------------------------------------------------
         Total                                              $ 5,893.78

     McKinney & Moore,  Inc., on February 13, 1993,  received a judgment against
the Company.

         Judgment, 10% per annum                            $ 3,802.00
         Attorney's fees, 10% per annum                     $ 1,250.00
         Prejudgment, 10% per annum                         $   211.00
         Total                                              $ 5,263.00
         -------------------------------------------------------------
         Total of judgments                                 $11,156.78

Note E:   Capital Stock

     December 31, 1998 and March 31, 1999 and June 30, 1999

---------------------------------  ---------------------------------
Preferred Stock, $.01 par
value per share, 500,000
shares authorized.  No shares
issued and outstanding.                           0
---------------------------------  ---------------------------------
Common Stock, authorized
50,000,000 shares with par
value of $.001 per share,
9,977,495 common shares
issued and outstanding                       $9,977
---------------------------------  ---------------------------------


Note F:   Retained Earnings Restricted

     Retained  earnings  restricted  represents the total judgments held against
the Company. See Note D.

Note G:   Prior Period Adjustments

     Prior period  adjustments  as shown on the  statement of cash flows and the
retained earnings statement  represents changes to financial statements provided
by the Company for audit.

Note H:   Going Concern

     As shown on the financial  statements,  the Company has incurred  losses of
$3,467,959  from  inception  to June  30,1999.  The  ability  of the  Company to
continue as a going  concern is dependent  upon the success of the plan to raise
capital by a merger with another profitable company. The financial statements do
not include any adjustments that might be necessary should the Company be unable
to continue as a going concern.

                                       9

<PAGE>

Item 2.   MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL  CONDITION  AND
RESULTS OF OPERATIONS.

     The Company had no sales for the six months  ending June 30, 1999,  nor for
fiscal years 1998 or 1997.

     Historically,  the  Company  has had few sales of  machines  and  equipment
utilizing the  application  of waste and water  treatment  technologies  ("Ozone
Technologies"),  and, to date,  the Company has been  unsuccessful  in marketing
machines and equipment that utilize the Ozone Technologies.

     The  Company  has not been  able to  generate  sales of its  products,  and
consequently,  the Company  has  incurred  and  continues  to incur  substantial
losses.  The Company  experienced a net loss of $278.92 for the six months ended
June 30,  1999,  compared  to an overall  loss of  $1,115.67  for the year ended
December 31, 1998. The decrease in loss was due to a removal of unused chemicals
and materials of the Company and related consultant fees the Company expended in
early 1998.

     For the six months  ended June 30,  1999,  the Company  incurred  operating
expense of $278.92.

                                    LIQUIDITY

     The Company had no  significant  cash change  during the six months  ending
June 30, 1999,  compared to the same period for 1998 or the year ended  December
31, 1998. At the period ending June 30, 1999, the Company had $0 available cash,
at the year ended  December  31,  1998,  $0, and for the period  ending June 30,
1998, $140.

     Management of the Company does not foresee  significant  commitments  which
will result in identifiable expenses in the Company's immediate future.

     The Company has, to date,  generated no significant  revenues.  Because the
Company  has no  remaining  funds,  Management  is  operating  the  Company on a
severely curtailed basis.  Without capital infusion,  through a merger of change
of the course of  business,  the Company will have  insufficient  funds to cover
operational expenses for the remainder of the fiscal year.  Operational expenses
were the cause of the net income (loss) for the year ended December 31, 1998, of
$1,115.67.

                                CAPITAL RESOURCES

     Subsequent to September 30, 1995,  and as of June 30, 1999, the Company has
had no  significant  expenditures  for the purchase of materials,  machinery and
other testing equipment.

                              RESULTS OF OPERATIONS

     Management does not know of any  significant  revenues or expenses that the
Company will incur during the remainder of the 1999 fiscal year. Management does
not expect the Company to sale waste  disposal  systems  during the remainder of
the 1999 fiscal year.

                                       10

<PAGE>

Item 3.   QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

     At this time,  Management  does not know the business  path for the Company
for the next 12 months.  Based on the lack of sales during the past three years,
management  does not  believe  that the waste  disposal  system  is  marketable.
Management  does not foresee any changes in the  marketplace  that would  create
demand  for the waste  disposal  system.  Management  is  currently  considering
various  restructuring  techniques to maximize shareholder profits,  including a
possible sale of the corporation or a merger,  if a suitable merger candidate is
found.  At this point,  the  Company's  future  business  remains  uncertain and
Management  cannot  make  adequate  disclosures  about  market  risk  until  the
necessary business decisions are made.

                           Part II - OTHER INFORMATION

Item 1.   Legal Proceedings

     There are no material  pending legal  proceedings to which the Company is a
party or of which any of the  Company's  property is the subject.  However,  the
Company does have two outstanding judgments.

     Thomas Publishing Co. filed a lawsuit against the Company for collection of
a past due  account in the total of  $3,265,  in the  District  Court of Western
North  Carolina.  On May 5, 1995,  the Company  settled the lawsuit by signing a
Consent Judgment  providing that Thomas Publishing Co. have and recover Judgment
against  the  Company in the sum of $3,265,  plus  interest at 18% per annum and
collection  cost of  $1,179  plus  interest  of 8% per  annum  from  the date of
Judgment until paid in full,  and court costs.  Because the Company did not have
the  financial  resources to pay this  Judgment,  it was not paid as of June 30,
1999.

     McKinney & Moore,  Inc., filed a lawsuit against the Company for collection
of a past due account in the total of $3,802, in the District Court of Henderson
County, Texas. On February 25, 1983, McKinney & Moore, Inc., received a judgment
to recover the debt, attorney fees of $1,250, prejudgment interest of $211, plus
interest at 10% per annum from the date of Judgment until paid in full.  Because
the Company did not have the financial  resources to pay this  Judgment,  it was
not paid as of June 30, 1999.

Item 2.   CHANGES IN SECURITIES

     None.

Item 3.   DEFAULTS ON SENIOR SECURITIES

     None.

Item 4.   SUBMISSION TO A VOTE OF SECURITY HOLDERS

     None.

Item 5.   OTHER INFORMATION

     None.

Item 6.   EXHIBITS AND REPORTS ON FORM 8-K

--------------------------------------------------------------------------------
Articles of Incorporation                   1
-----------------------------------------   ------------------------------------
Bylaws                                      2
-----------------------------------------   ------------------------------------
Report of Certified Public Accountant       3
-----------------------------------------   ------------------------------------
Financial Statements and Notes              4
-----------------------------------------   ------------------------------------
Financial Data Schedule                     27
--------------------------------------------------------------------------------

                                       11

<PAGE>


Item 7.   SUBSEQUENT EVENTS

     None.

SIGNATURES
----------

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.

The Saint James Company

/s/  Wayne Gronquist                              January 05, 2000
-----------------------------------               ------------------------
     Wayne Gronquist                              Date
     Director, President, Secretary













                                       12