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        December 31, 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 February 10, 1999)

                                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 December 31, 1998 and the results of its operations and 
changes in its financial position from September 30, 1988 through December 
31, 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

                                           December 31,     September 30,
                                              1998              1998       
                                           (unaudited)
OTHER ASSETS
     
Computer System, at cost (less accumulated
depreciation of $6,259 & $6,099)               159                    319

     TOTAL ASSETS                         $    159              $     319



                 LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

Accounts Payable - Related Party            $ 5,108             $    4,783
     Taxes Payable                               -                     325
     Interest Payable                           600                    497
     Notes Payable                            5,127                  5,127

     Total Current Liabilities               10,835                  10,732

STOCKHOLDERS' EQUITY

     Common Stock 26,000,001 shares 
        authorized at $.001 par value;
        22,590,800 shares issued and outstanding      22,591         22,591
     Capital in Excess of Par Value                  263,551        263,551
     Deficit Accumulated During Development Stage   (296,818)      (296,555) 

     Total Stockholders' Equity                      (10,676)       (10,413)

     TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY   $      159            319






                          NTC HOLDINGS, INC.
                    (A Development Stage Company)
                       Statements of Operations
                             (unaudited)




                                                              From Beginning
                                                              of Development
                              For the Three   For the Three  Stage September 30,
                              Months Ended    Months Ended    1988 through 
                              December 31,    December 31,    December 31,
                                 1998            1997             1998       
REVENUE

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

EXPENSES

     Depreciation                          160         161       6,259
     Dues and Fees                          -             -     12,767
     Interest                              103         103         600

            Total Expenses                 263         264      19,626

NET INCOME (LOSS) - Before Taxes      $   (263)   $   (264)  $ 204,657     

     Taxes                                  -           87       3,418

INCOME (LOSS)                         $   (263)   $   (351)  $  201,239     
             

Loss Per Common Share                 $     -     $    -             


Average Outstanding Shares             22,590,800     22,590,800
                  




                          NTC HOLDINGS, INC.
                    (A Development Stage Company)
                       Statements of Cash Flows
                             (unaudited)
                                                             For the Period 
                                                             From Beginning of
                              For the Three   For the Three  Development Stage
                              Months Ended    Months Ended   September 30, 1988
                              December 31,    December 31,   to December 31,
                                 1998            1997              1998      
CASH FLOWS FROM
     OPERATING ACTIVITIES
   Net Income (Loss)          $   (263)  $   (351)   $201,239 
   Depreciation                    160        161       6,259 
   Extinguishment of Debt            -         -     (224,283)
   Increase (Decrease)
     in Accounts Payable/Interest Payable      103       103      3,333 
   Increase in Taxes Payable                    -         87        325 
   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              -        -       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
      Penalties & Interest)           $          325    $  6,801  $   7,474  






                          NTC HOLDINGS, INC.
                    (A Development Stage Company)
                  Notes to the Financial Statements
                          December 31, 1998

NOTE 1 - INTERIM FINANCIAL STATEMENTS

      Management has elected to omit all of the disclosures for the interim
financial statements  ended December 31, 1998 but has made all the necessary 
adjustments to  present an accurate financial statements for the three months 
presented.


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

  Liquidity and Capital Resources.  The Registrant has approximately $(10,835)
as operating capital at December 31, 1998. 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 December 31, 1998, the registrant had net loss of  $(263).

  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 February 10, 1999
                                                NTC Holdings, Inc.

                                                /s/ Dean Becker