FORM 10-QSB


                       SECURITIES AND EXCHANGE COMMISSION


                             WASHINGTON, D.C. 20549



              [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                        For Quarter Ended March 31, 1997

                                       OR

              [ ]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: 2-96392-A

                          TRIANGLE IMAGING GROUP, INC.
             (Exact Name of Registrant as Specified in its Charter)

                Florida                            59-2493183_____
                State or other jurisdiction of     I.R.S. Employer
                incorporation or organization      Identification No.

               4400 West Sample Road, Coconut Creek, Florida 33073
               (Address of Principal Executive Office) (Zip Code)

                                  954-968-2080
               (Registrant's telephone number including area code)

         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

The number of shares of registrant's Common Stock, $.001 par value, outstanding
 as of March 31, 1997 was 5,660,166 shares.




<PAGE>

                   TRIANGLE IMAGING GROUP, INC. AND SUBSIDIARY

                                      INDEX

                                                                         Page
                                                                         Number

PART I - FINANCIAL INFORMATION:

  Item 1.  Financial Statements

      Consolidated Balance Sheet - March 31, 1997...........................  1

      Consolidated Statement of Operations - For the Three Months Ended
      March 31, 1997 and 1996...............................................  2

      Consolidated Statement of Cash Flows - For the Three Months Ended
      March 31, 1997 and 1996...............................................  3

      Notes to Financial Statements.......................................  4-5

      Item 2.  Management's Discussion and Analysis.......................  6-7

PART II - OTHER INFORMATION.................................................  8

SIGNATURES..................................................................  9




<PAGE>

                                        


                          Item 1. Financial Statements

                   TRIANGLE IMAGING GROUP, INC. AND SUBSIDIARY

                           CONSOLIDATED BALANCE SHEET

                                   (Unaudited)

                                     ASSETS


                                                                    March 31,
                                                                       1997
                                                              ------------------

CURRENT ASSETS:
     Cash and cash equivalents                              $           393,215
     Accounts receivable, net of allowance for doubtful
         accounts of $154,000                                           405,972
     Prepaid expenses                                                    18,179
                                                              ------------------
         TOTAL CURRENT ASSETS                                           817,366

EQUIPMENT                                                               196,787

GOODWILL                                                              1,896,372

OTHER ASSETS                                                              5,152
                                                              ------------------

                                                            $         2,915,677
                                                              ==================


                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
     Accounts payable and accrued expenses                  $           417,453
     Deferred revenue                                                   271,419
     Due to stockholders                                                 50,000
     Current portion of note payable                                    275,000
                                                              ------------------
         TOTAL CURRENT LIABILITIES                                    1,013,872

NOTE PAYABLE                                                          1,325,000

MINORITY INTEREST                                                       203,531

STOCKHOLDERS' EQUITY:
     Preferred stock, $1.00 par, 1,000,000 shares authorized:
         Class A, 10,000 shares issued and outstanding                   10,000
         Class B, 75,000 shares issued and outstanding                  300,000
     Common stock, $.001 par value,   
       authorized 50,000,000 shares: 5,660,166
         issued and outstanding                                           5,661
     Additional paid-in capital                                       1,794,185
     Accumulated deficit                                             (1,541,017)
     Deferred compensation                                             (195,555)
                                                              ------------------
         TOTAL STOCKHOLDERS' EQUITY                                     373,274
                                                              ------------------

                                                            $         2,915,677
                                                              ==================






                       See notes to financial statements.
                                       -1-
<PAGE>



                  TRIANGLE IMAGING GROUP, INC. AND SUBSIDIARY

                      CONSOLIDATED STATEMENT OF OPERATIONS

                                   (Unaudited)

                                                  Three months ended
                                                       March 31,
                                         -----------------------------------
                                              1997               1996
                                         ----------------   ----------------

SALES                                   $       1,111,221  $        -

COST OF SALES                                     244,055           -
                                         ----------------   ----------------

GROSS PROFIT                                      867,166           -

SELLING, GENERAL AND ADMINISTRATIVE
     EXPENSES                                     694,591         5,447

NON-CASH IMPUTED COMPENSATION EXPENSE              13,375        13,250

AMORTIZATION OF GOODWILL                           24,106           -
                                         ----------------   ----------------


INCOME (LOSS) FROM OPERATIONS                     135,094       (18,697)

INTEREST EXPENSE                                   19,486           -
                                         ----------------   ----------------

INCOME (LOSS) BEFORE MINORITY INTEREST            115,608       (18,697)

MINORITY INTEREST                                  26,141           -
                                         ----------------   ----------------

NET INCOME (LOSS)                       $          89,467  $    (18,697)
                                         ================   ================

NET INCOME PER SHARE                    $            0.02  $           (0.01)
                                         ================   ================

WEIGHTED AVERAGE SHARES OUTSTANDING             5,533,332          3,580,498
                                         ================   ================






                       See notes to financial statements.


                                       -2-
               
<PAGE>

  TRIANGLE IMAGING GROUP, INC. AND SUBSIDIARY

                             STATEMENT OF CASH FLOWS

                                   (Unaudited)

                                                      Three months ended
                                                           March 31,
                                             -----------------------------------
                                                   1997               1996
                                             ---------------    ----------------

CASH FLOWS FROM OPERATING ACTIVITIES:
 Net income (loss)                         $         89,467   $         (18,697)
  Adjustment to reconcile net income 
  (loss) to net cash
    provided by operating activities:
      Depreciation                                   25,256                 -
      Amortization of goodwill                       24,106                 -
      Non-cash imputed compensation                  13,375              13,250
      Minority interest                              26,141                 -

 Changes in assets and liabilities:
      Increase in accounts receivable               (36,104)                -
      Decrease in prepaid expenses                   13,096                 -
      Increase in other assets                      (1,055)                 -
      Increase in accounts payable 
        and accrued expenses                        144,780               4,140
      Decrease in deferred revenue                  (75,784)                -
                                             ---------------    ----------------

CASH PROVIDED BY (USED IN) 
OPERATING ACTIVITIES                                223,278              (1,307)
                                             ---------------    ----------------

CASH FLOWS FROM INVESTING ACTIVITIES:
     Purchase of equipment                          (30,327)                -
                                             ---------------    ----------------

CASH USED IN INVESTING ACTIVITIES                   (30,327)                -
                                             ---------------    ----------------

NET INCREASE (DECREASE) IN CASH                     192,951              (1,307)

CASH - BEGINNING OF PERIOD                          200,264               1,371
                                             ---------------    ----------------

CASH - END OF PERIOD                       $        393,215   $              64
                                             ===============    ================













                       See notes to financial statements.
                                       -3-





<PAGE>
                         PART 1 - FINANCIAL INFORMATION

                   TRIANGLE IMAGING GROUP, INC. AND SUBSIDIARY

                          NOTES TO FINANCIAL STATEMENTS

                                   (Unaudited)


1.       BASIS OF PRESENTATION

                  The accompanying financial statements reflect all adjustments 
which, in the opinion of management, are necessary for a fair presentation of 
the financial position for the interim periods presented.

                  Certain financial information which is normally included in
financial statements prepared in accordance with generally accepted accounting
principles, but which is not required for interim reporting purposes has been 
condensed or omitted.  The accompanying financial statements should be read in
conjunction with the financial statements and notes thereto as of December 31, 
1996 contained in the Company's Annual Report on Form 10-KSB.

2.       EARNING (LOSS) PER SHARE

                  Per share information is computed based on the weighted
average number of shares outstanding during the period.

3.       NON-CASH IMPUTED COMPENSATION EXPENSE

                  A total of 7,000 shares of common stock were issued for 
services during the quarter ended March 31, 1997.  Such shares have been valued
 at their fair market value on the date of issuance resulting in a non-cash 
charge to income of $3,080.

4.       ACQUISITION

                  On December 2, 1996, 95% of the stock of Engineered Business 
Systems, Inc. ("EBS") was acquired by the Company for $896,000 in cash, a note 
payable to EBS's shareholders for $1,600,000 and 500,000 restricted shares of
the Company's common stock with certain piggy back registration rights and
restrictions.  EBS's shareholders also have certain anti-dilution provisions and
selling rights tied to the President's personal stock holdings, which expire 
upon the earlier of the a) registration of the restricted shares and the payment
of all obligations to the EBS shareholders or b) on January 2, 2000 and payment 
of all obligations to EBS's shareholders.  The acquisition of EBS has been 
accounted for as a purchase and accordingly, the assets acquired and liabilities
assumed have been recorded at their estimated fair values which approximates 
book value.  The following table summarizes this acquisition:

                                       -4-
<PAGE>



Purchase Price, including acquisition costs           $             2,620,915
Liabilities assumed                                                   454,159
Assets acquired                                                    (1,146,561)
Goodwill                                              $             1,928,513

                  Accumulated amortization on goodwill at March 31, 1997 was
         $32,141.

                  The following schedule combines the unaudited pro forma
results of operations of the Company and EBS for the three months ended March 
31, 1996 as if the acquisition had occurred on January 1, 1996 and includes such
adjustments which are directly attributable to the acquisition.  It should not 
be considered indicative of the results that would have been achieved had the 
acquisition not occurred or the results that would have been obtained had the 
acquisition actually occurred on January 1, 1996.


Net sales                                             $               830,546
Net income                                                             71,153
Net income per share                                                      .01
Shares used in computation                                          5,533,332

5.       MINORITY INTREST

                Pursuant to terms of employment agreements, 10% of the stock in 
EBS has been issued with the unearned portion recorded as deferred compensation.



















                                       -5-
<PAGE>

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

                   THREE MONTHS ENDED MARCH 31, 1997 AND 1996

Prior to December 2, 1996, the Company's primary focus was to search for and 
identify acquisition candidates for the purpose of merging with or acquiring 
promising young companies in need of an infusion of cash and/or superior 
management.  On December 2, 1996, the Company completed the acquisition of 95% 
of the stock of Engineered Business Systems, Inc. ("EBS"), in a leveraged
transaction.  Total value of the transaction was approximately $3 Million.

Results of Operations

Total revenues for the three months ended March 31, 1997 were $1,111,221, which 
is an increase over the Company's revenues of $0 for the three months ended 
March 31, 1996.  The increase resulted entirely from the acquisition of EBS on 
December 2, 1996 and the results of EBS's operations for the three month period.

Cost of sales was $244,055 for the three months ended March 31, 1997, which 
again was an increase over the Company's three months ended March 31, 1996 cost 
of sales of $0.  Gross profit as a percentage of revenue was 78% for the three 
months ended March 31, 1997.  The increase resulted entirely from the 
acquisition of EBS on December 2, 1996, and the results of EBS's operations for
the three month period.

Selling, general and administrative expenses for the three months ended March 
31, 1997 were $694,591 as compared to $5,447 for the three months ended March 
31, 1996.  Management believes that the increase in selling, general and 
administrative expenses was due to the acquisition of EBS and the expenses 
related to its operations, compared to the minimal operating expenses associated
with a non-revenue producing company.  Non-cash imputed compensation for the 
three months ended March 31, 1997 was $13,375, as compared to $13,250 for the 
three months ended March 31, 1996.

For the three months ended March 31, 1997, the Company's net income included a 
non-cash expense of $49,362.  Such expense was incurred as a result of 
depreciation and amortization of assets acquired with the acquisition of EBS as
well as  the goodwill created in the acquisition. 

Interest expense was $19,486 for the three months ended March 31, 1997, compared
to $0 for the three months ended March 31, 1996, reflecting interest paid on an 
8% promissory note of $1,600,000.  The promissory note is held by the selling 
shareholders of EBS, created during the sale of EBS to the Company.  Minority 
interest for the three months ended March 31, 1997 was $26,141, reflecting 
interest due to holders of 15% of EBS Stock.

As a result of all the above factors, net income for the three months ended 
March 31, 1997 was $89,467 as compared to a net loss of $18,697 for the three
months ended March 31, 1996.


                                       -6-
<PAGE>

Liquidity and Capital Resources

The Company has funded its working capital and capital expenditure requirements 
from cash provided from operations and from the proceeds of the sales of 
Preferred Stock.  The primary source of cash receipts is from payments of 
accounts receivable and sales.

As of March 31, 1997, the Company had cash of $393,000.

To date, inflation has not had a material effect on the Company's business.  
The Company believes that the effects of future inflation may be minimized by 
controlling costs and increasing efficiency.



































                                       -7-
<PAGE>

PART II - Other Information

Item 6.           Exhibit and Reports on form 8-K

         A.       Exhibits

                  None.

         B.       Report on Form 8-K

                  None.


































                                       -8-

<PAGE>

                                   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.



                                                    TRIANGLE IMAGING GROUP, INC.


                                    
Dated: 5/15/97                   By:/s/ Vito Bellezza
                                    ----------------- 
                                    Vito Bellezza
                                    President, Chairman of the Board,
                                    Chief Financial Officer, Chief Executive
                                    Officer and Director




























                                       -9-