FORM 10-QSB

                  SECURITIES AND EXCHANGE COMMISSION
                        Washington D.C.  20549

             Quarterly Report Under Section 13 or 15 (d)
                Of the Securities Exchange Act of 1934


              For Quarter Ended        June 30, 1998    

             Commission File Number    2-94704-NY        


                          NTC HOLDINGS, INC.   
        (Exact name of registrant as specified in its charter)


           NEW YORK                                 11-2647209     
     (State or other jurisdiction of               (IRS Employer
   incorporation or organization)               Identification No.)


                  4505 SOUTH WASATCH BOULEVARD # 330
                      SALT LAKE CITY, UTAH  84124      
               (Address of principal executive offices)


Registrant's telephone number
including area code                                         (801) 274-8600    


            265 Hempstead Turnpike, Elmont, New York 11003    
             Former Address, if changed since last report

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 such shorter period that the 
registrant was required to file such reports)

                            Yes X   No    

and (2) has been subject to such filing requirements for the past 90 days.    
         

                           Yes X    No    


                            22,590,800                 
                     (Number of shares of common 
                      stock the registrant had
                  outstanding as of August 27, 1998)


                                PART 1

ITEM 1 - FINANCIAL STATEMENTS

     The condensed financial statements included herein have been prepared by
the Company, without audit, pursuant to the rules and regulations of the 
Securities and Exchange Commission.  Certain information and footnote 
disclosures normally included in financial statements prepared in accordance
with generally accepted accounting principles have been condensed
or omitted pursuant to such rules and regulations, although the Company 
believes that the disclosures are adequate to make the information presented 
not misleading.

     In the opinion of the Company, all adjustments, consisting of only normal 
recurring adjustments, necessary to present fairly the financial position of 
the Company as of June 30, 1998 and the results of its operations and changes
in its financial position from September 30, 1988 through June 30, 1998 have 
been made.  The results of its operations for such interim period is not 
necessarily indicative of the results to be expected for the entire year.


                          NTC HOLDINGS, INC.
                    ( A Development Stage Company)
                            Balance Sheet

                              
                                ASSETS

                                                  June 30,     September 30,
                                                    1998           1997
                                                (unaudited)
OTHER ASSETS
     
     Computer System (less accumulated
        depreciation of $ 5,940 & $5,457)              478           961

     TOTAL ASSETS                            $         478           961
                                             
                                             


                 LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

     Accounts Payable                        $         4,435     $  4,435
     Interest Payable                                    396           87
     Notes Payable                                     5,127        5,127
     Taxes Payable                                       609          348  
     Total Current Liabilities                        10,567        9,997   

STOCKHOLDERS' EQUITY

     Common Stock 26,000,001 shares 
        authorized at $.001 par value;
       22,590,800 shares issued and outstanding      412,711       412,711
     Capital in Excess of Par Value                 (126,569)     (126,569)
     Deficit Accumulated During Development Stage   (296,231)     (295,178) 

     Total Stockholders' Equity                      (10,089)       (9,036)

     TOTAL LIABILITIES AND STOCKHOLDERS' 
     EQUITY                                 $            478    $      961




                          NTC HOLDINGS, INC.
                    (A Development Stage Company)
                       Statements of Operations
                             (unaudited)
                                                                From Beginning
                                                                of Development
                                                                    Stage on
       For the Three   For the Three  For the Nine  For the Nine September 30,
        Months Ended    Months Ended   Months Ended  Months Ended 1988 through 
          June 30,        June 30,       June 30,      June 30,     June 30,
            1998            1997           1998         1997         1998      
 
REVENUE

Gain on
Extinguishment
of Debt
              $  -              $  -           $   -       $  -      $224,283

EXPENSES

Depreciation  161                 161              483        484       5,940 
Interest      103                  -               309         -          396 
Dues and Fees   -                  -                -          -       12,767 

Total 
Expenses      264                 161              792        484       19,103 


NET INCOME

(LOSS) - 
Before 
Taxes       $(264)               $(161)        $(792)       $(484)    $205,180 

Taxes          87                   87           261          261        3,354 

INCOME 
(LOSS       $(351)              $(249)        $ (1,053)     $(745)     $201,826 

Loss Per 
Common 
Share       $ -                 $  -          $  -          $ -        $ .02    
                                          

Average 
Outstanding 
Share     22,590,800       16,640,800     22,590,800   16,640,800  12,292,080 



                            NTC HOLDINGS, INC.
                       (A Development Stage Company)
                         Statements of Cash Flows
                                (unaudited)
                                                            For the Period 
                                                            From beginning
                          For the Nine       For the Nine   of Development Stage
                          Months Ended       Months Ended   on September 30,1988
                            June 30,           June 30,        to June 30,
                              1998               1997             1998      
CASH FLOWS FROM
     OPERATING ACTIVITIES
   Net Income (Loss)          $ (1,053)      $    (745)      $201,826 
   Depreciation                    483             484          5,940 
   Extinguishment from Debt        -                -        (224,283)
   Increase (Decrease) 
     in Accounts Payable/
      Interest Payable             309              -           2,781 
     Taxes Payable                (261)           (6,801)         609
     Expenses paid by Stock         -               -             500  
                                    -               -         (12,627)

CASH FLOWS FROM
  INVESTING ACTIVITIES
   Purchase of Assets               -                -         (6,418)
                                    -                -         (6,418)
CASH FLOWS FROM
  FINANCING ACTIVITIES
   Issuance of Common Stock for 
    Debt  (Net)                     -                -           5,450 
  
   Issuance of Note Payable         -                 -          5,127
                                                                10,577
INCREASE (DECREASE) IN CASH
  AND CASH EQUIVALENTS               -                 -        (8,468)

CASH AND CASH EQUIVALENTS     
   AT THE BEGINNING OF PERIOD        -                -         8,468

CASH AND CASH EQUIVALENTS
  AT END OF PERIOD            $      -         $      -       $    -    

CASH PAID DURING THE PERIOD FOR:
   Interest                   $      -          $      -       $    -    
   Income Taxes (Including
       Interest & Penalties)  $      -          $   6,801      $ 6,801 





                          NTC HOLDINGS, INC.
                    (A Development Stage Company)
                  Notes to the Financial Statements
                            June 30, 1998

NOTE 1 - INTERIM FINANCIAL STATEMENTS

      Management has elected to omit all of the disclosures for the interim
financial statements ended June 30, 1998 but has made all the necessary 
adjustments to present an accurate financial statements for the nine months 
presented.



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

  Liquidity and Capital Resources.  The Registrant had approximately $(10,567)
as operating capital at June 30, 1998, compared to $(12,273) for the same 
period last year. The Registrant intends to raise additional funds as needed 
through private placements with accredited and sophisticated investors.

     Results of Operation.  Due to the lack of operations during the quarter
ended June 30, 1998, the registrant had net loss of $(351), compared to net 
loss of $ (249) for the same period last year. The registrant had net loss of
$(1,053) for the nine months ended June 30, 1998, compared to $ (745) for the 
same period last year.

     Plan of Operations.  The Company is currently in the process of looking
for business opportunities to acquire or merge with.  There is no guarantee 
that management will be successful in finding such an opportunity.  The Company
is also in the process of bringing all of its periodic reports current for 
filing with the Securities and Exchange Commission. During this process, the
Company intends to raise operational capital through private placements.

                                        PART II

OTHER INFORMATION

Item 1.   Legal Proceedings.                                     None
Item 2.   Changes in Securities.                                 None
Item 3.   Defaults Upon Senior Securities.                       None
Item 4.   Submission of Matters to a Vote of Security Holders.   None
Item 5.   Other Information.                                     None
Item 6.   Exhibits and Reports on Form 8-K.                      None


                              SIGNATURES

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


Dated August 27, 1998
                                                NTC Holdings, Inc.

                                                /s/ Dean Becker