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 September 30, 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 September 30, 1997 was 9,343,165 shares.





<PAGE>
<TABLE>
<CAPTION>



                   TRIANGLE IMAGING GROUP, INC. AND SUBSIDIARY

                                      INDEX

                                                                                                               Page
                                                                                                             Number
<S>                                                                                                         <C>
PART I - FINANCIAL INFORMATION:

         Item 1.  Financial Statements

                  Consolidated Balance Sheet - September 30,1997...........................................  1

                  Consolidated Statement of Operations - For the Nine Months
                  and Three Months Ended September 30, 1997 and 1996.......................................  2

                  Consolidated Statement of Cash Flows - For the Nine Months Ended
                  September 30, 1997 and 1996..............................................................  3

                  Notes to Financial Statements............................................................  4-7

         Item 2.  Management's Discussion and Analysis.....................................................  8-9

PART II - OTHER INFORMATION................................................................................  10

SIGNATURES.................................................................................................  11





</TABLE>
<PAGE>
<TABLE>
<CAPTION>

                                        PART 1 - FINANCIAL INFORMATION

                                          Item 1. Financial Statements

                                   TRIANGLE IMAGING GROUP, INC. AND SUBSIDIARY

                                           CONSOLIDATED BALANCE SHEET

                                                   (Unaudited)

                                                     ASSETS

                                                                                                  September 30,
                                                                                                      1997
                                                                                                ------------------
<S>                                                                                          <C> 
CURRENT ASSETS:
     Cash and cash equivalents                                                                $           758,896
     Accounts receivable, net of allowance for doubtful
         accounts of $128,000                                                                             526,673
     Prepaid expenses                                                                                      12,585
                                                                                                ------------------
         TOTAL CURRENT ASSETS                                                                           1,298,154

EQUIPMENT                                                                                                 210,172

GOODWILL                                                                                                1,689,385

OTHER ASSETS                                                                                              190,414
                                                                                                ------------------

                                                                                              $         3,388,125
                                                                                                ==================

                                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
     Accounts payable and accrued expenses                                                    $           515,369
     Deferred revenue                                                                                     349,967
     Due to stockholders                                                                                   50,000
     Current portion of note payable                                                                      300,000
                                                                                                ------------------
         TOTAL CURRENT LIABILITIES                                                                      1,215,336

NOTE PAYABLE                                                                                            1,175,000

MINORITY INTEREST                                                                                          82,081

STOCKHOLDERS' EQUITY:
     Preferred stock, $1.00 par, 1,000,000 shares authorized:
         Class A, 10,000 shares issued and outstanding                                                     10,000
     Common stock, $.001 par value,
         authorized 50,000,000 shares: 9,343,165
         issued and outstanding                                                                             9,345
     Additional paid-in capital                                                                         3,061,317
     Accumulated deficit                                                                               (1,330,664)
     Stock subscription receivable                                                                       (619,950)
     Deferred compensation                                                                               (214,340)
                                                                                                ------------------
         TOTAL STOCKHOLDERS' EQUITY                                                                       915,708
                                                                                                ------------------

                                                                                              $         3,388,125
                                                                                                ==================






                                       See notes to financial statements.
                                                       -1-




</TABLE>
<PAGE>
<TABLE>
<CAPTION>

                    TRIANGLE IMAGING GROUP, INC. AND SUBSIDIARY

                         CONSOLIDATED STATEMENT OF OPERATIONS

                                       (Unaudited)

                                                               Three months ended                     Nine months ended
                                                                   September 30,                          September 30,
                                                         -----------------------------------   ------------------------------------
                                                                1997               1996               1997                1996
                                                         ----------------   ----------------   ----------------    ----------------
<S>                                                    <C>                <C>                <C>                 <C>  
SALES                                                   $       1,487,382  $        -         $       4,076,340   $        -

COST OF SALES                                                     409,302           -                 1,034,444            -
                                                         ----------------   ----------------   ----------------    ----------------

GROSS PROFIT                                                    1,078,080           -                 3,041,896            -

SELLING, GENERAL AND ADMINISTRATIVE
     EXPENSES                                                     749,567             49,210          2,218,402              59,006

NON-CASH IMPUTED COMPENSATION EXPENSE                              23,420           -                    64,840              13,250

AMORTIZATION OF GOODWILL                                           18,604           -                    66,816            -
                                                         ----------------   ----------------   ----------------    ----------------


INCOME (LOSS) FROM OPERATIONS                                     286,489            (49,210)           691,838             (72,256)

INTEREST EXPENSE                                                   30,760           -                    83,544            -
                                                         ----------------   ----------------   ----------------    ----------------

INCOME (LOSS) BEFORE MINORITY INTEREST                            255,729            (49,210)           608,294             (72,256)

MINORITY INTEREST                                                 (13,935)          -                    58,968            -
                                                         ----------------   ----------------   ----------------    ----------------

NET INCOME (LOSS)                                       $         269,664  $         (49,210) $         549,326   $         (72,256)
                                                         ================   ================   ================    ================

NET INCOME PER SHARE                                    $            0.02  $           (0.01) $            0.05   $           (0.02)
                                                         ================   ================   ================    ================

WEIGHTED AVERAGE SHARES OUTSTANDING                            12,660,665          3,907,165         11,096,832           3,748,276
                                                         ================   ================   ================    ================













                                                           See notes to financial statements.
                                                                          -2-

</TABLE>


<PAGE>
<TABLE>
<CAPTION>

                                            TRIANGLE IMAGING GROUP, INC. AND SUBSIDIARY

                                                     STATEMENT OF CASH FLOWS

                                                           (Unaudited)

                                                                                                        Nine months ended
                                                                                                          September 30,
                                                                                                -----------------------------------
                                                                                                     1997                1996
                                                                                                ----------------    ---------------
<S>                                                                                          <C>                  <C>   
CASH FLOWS FROM OPERATING ACTIVITIES:
     Net income (loss)                                                                        $         549,326   $        (23,046)
     Adjustment to reconcile net income (loss) to net cash
         provided by operating activities:
            Depreciation                                                                                 75,766           -
            Amortization of goodwill                                                                     66,816           -
            Non-cash imputed compensation                                                                64,840             13,250
            Minority interest                                                                            58,968           -

     Changes in assets and liabilities:
            Increase in accounts receivable                                                            (156,805)          -
            Decrease in prepaid expenses                                                                 18,690           -
            Increase in other assets                                                                   (186,317)          -
            Increase in accounts payable and accrued expenses                                           244,194              8,779
            Increase in deferred revenue                                                                  2,764           -
                                                                                                ----------------    ---------------

CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES                                                         738,242             (1,017)
                                                                                                ----------------    ---------------

CASH FLOWS FROM INVESTING ACTIVITIES:
     Purchase of equipment                                                                              (94,222)          -
                                                                                                ----------------    ---------------

CASH USED IN INVESTING ACTIVITIES                                                                       (94,222)          -
                                                                                                ----------------    ---------------

CASH FLOWS FROM FINANCING ACTIVITIES:
     Payment of note payable                                                                           (125,000)          -
     Proceeds from sale of common stock                                                                 260,750           -
     Payment of dividends                                                                                (5,891)          -
     Other                                                                                               17,753           -
     Purchase of treasury stock                                                                        (233,000)          -
                                                                                                ----------------    ---------------

CASH PROVIDED BY FINANCING ACTIVITIES                                                                   (85,388)          -
                                                                                                ----------------    ---------------

NET INCREASE (DECREASE) IN CASH                                                                         558,632             (1,017)

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

CASH - END OF PERIOD                                                                          $         758,896   $            354
                                                                                                ================    ===============













                                                See notes to financial statements.
                                                               -3-
</TABLE>

<PAGE>


                   TRIANGLE IMAGING GROUP, INC. AND SUBSIDIARY

                          NOTES TO FINANCIAL STATEMENTS

                                   (Unaudited)


1.       BASIS OF PRESENTATION

                  The accompanying  unaudited  consolidated financial statements
         of Triangle  Imaging Group,  Inc. (the "Company") have been prepared in
         accordance with generally  accepted  accounting  principles for interim
         financial  information  and with the  instructions  to Form 10- QSB and
         Article 10 of Regulation S-X.  Accordingly,  they do not include all of
         the 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  (consisting  of  normal  recurring  accruals)  have  been
         included.  The  preparation of financial  statements in conformity with
         generally accepted  accounting  principles  requires management to make
         estimates and  assumptions  that affect the reported  amounts of assets
         and liabilities and disclosure of contingent  assets and liabilities at
         the  date of the  financial  statements  and the  reported  amounts  of
         revenues and expenses during the reporting period. Actual results could
         differ  from  those  estimates.  Operating  results  for the nine month
         period ended September 30, 1997 are not  necessarily  indicative of the
         results that may be expected for the year ending December 31,1 997. 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 December 31, 1996.

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 75,000  shares  of common  stock  were  issued  for
         services  during the quarter ended September 30, 1997. The services are
         to be  performed  over the next year.  Such  shares have been valued at
         their fair market value on the date of issuance  which will result in a
         total  non-cash  charge to income of $52,500.  The  non-cash  charge to
         income for the three months ended September 30, 1997 was $13,125.

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.

                                       -4-

<PAGE>



         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:


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 September 30, 1997 was
$74,851.

                  The  following  schedule  combines  the  unaudited  pro  forma
         results of  operations of the Company and EBS for the nine months ended
         September  30, 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                                               $             2,491,640
Net income                                                              249,237
Net income per share                                                        .06
Shares used in computation                                            3,748,276

5.       MINORITY INTEREST

                  Effective July 1, 1997, the terms of the employment  agreement
         with the Company's President were amended. The President's ownership of
         10% of EBS was  replaced  with options to purchase 10% of the shares of
         EBS.  Accordingly,  the  minority  interest  associated  with  the  10%
         ownership was reclassified against goodwill.

6.       TREASURY STOCK

                  In July 1997, the Company  purchased  500,000 shares of common
         stock from the original sellers of EBS for $233,000.  The Company plans
         to retire these shares, therefore, such amount has been reclassified to
         accumulated deficit.

7.       STOCK SUBSCRIPTION RECEIVABLE

                  In April 1997, pursuant to stock subscription agreements,  the
         President  of the Company and the wife of the  Chairman  subscribed  to
         2,333,000  shares of common stock for a total value of $768,700.  As of
         September 30, 1997 $148,750 has been received  leaving a balance due of
         $619,950.

                                      -5-
<PAGE>


8.       OTHER ASSETS

                  The Company has  capitalized  software costs included in Other
         Assets which totaled $156,457 at September 30, 1997. The capitalization
         of such costs is in accordance with SFAS No. 86.

9.       RECENT ACCOUNTING PRONOUNCEMENTS

                  In February 1997,  the Financial  Accounting  Standards  Board
         "FASB" issued SFAS No. 128 "Earnings Per Share",  which is effective in
         fiscal  1998,  early  application  is  not  permitted.   SFAS  No.  128
         simplifies  the standards for  computing  earnings per share "EPS".  It
         replaces the presentation of primary EPS with the presentation of basic
         EPS.  Basic EPS excludes  dilution  and is computed by dividing  income
         available  to common  stockholders  by the  weighted-average  number of
         shares  outstanding for the period. If SFAS 128 had been applied to the
         results  reported on Form 10-Q's since fiscal 1996, the Company's basic
         EPS would not change.

                  In February 1997, the FASB issued SFAS No. 129  "Disclosure of
         Information  about  Capital  Structure",  which is  effective in fiscal
         1998.  SFAS No. 129 requires  the  following  disclosures;  liquidation
         preferences of preferred stock, information about rights and privileges
         of outstanding equity securities and redemption criteria for all issues
         of capital  stock.  Due to the  Securities  and Exchange  Commissions's
         disclosure  requirements  of publicly held  entities,  there will be no
         additional disclosure required for the Company.

                  In  June  1997,  the  FASB  issued  SFAS  No.  130  "Reporting
         Comprehensive  Income", which is effective in fiscal 1998. SFAS No. 130
         requires the  disclosure of the components of the change in equity of a
         business  enterprise during a period from transactions and other events
         except  for  distributions  and  investments  to  be  reported  in  the
         statement of operations,  cash flows and in certain  circumstances as a
         component  of  equity  as  a  separate  category   "accumulated   other
         comprehensive  income".  Examples of items  included  in  comprehensive
         income  are  foreign  currency  translation   adjustments,   unrealized
         securities  gains and  losses and  pension  liability  adjustments.  In
         addition  publicly  held  entities  will be  required  to provide  such
         disclosure  on an  interim  basis.  Currently  there  is  no  increased
         disclosure  for  items  defined  under  comprehensive  income  for  the
         Company.
                                      -6-
<PAGE>
                  In June 1997, the FASB issued SFAS No. 131 "Disclosures  about
         Segments of an Enterprise and Related Information",  which is effective
         in fiscal 1998 for publicly held entities  only.  SFAS No. 131 requires
         the  disclosure of various data  pertaining to entities  operating with
         different business segments.  The Company does operate in two different
         business segments and the statement of operations  currently  discloses
         the required data relating to the Company under SFAS No. 131.  The 
         implementation of SFAS No. 131 may not require additional material 
         disclosure.




                                       -7-

<PAGE>



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

                  NINE MONTHS ENDED SEPTEMBER 30, 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 nine months and three months  ended  September  30, 1997
were  $4,076,340  and  $1,487,382  respectively,  which is an increase  over the
Company's  revenues of $0 for the nine months and three months  ended  September
30, 1996. The increase resulted entirely from the acquisition of EBS on December
2, 1996 and the results of EBS's operations for the nine month period.

Cost of sales were  $1,034,142 and $409,302 for the nine months and three months
ended  September 30, 1997,  which again was an increase over the Company's  nine
months and three  months  ended  September  30, 1996 cost of sales of $0.  Gross
profit as a percentage  of revenue was 75% for the nine months  ended  September
30, 1997 and 72% for the three months  ended  September  30, 1997.  The increase
resulted  entirely  from the  acquisition  of EBS on December  2, 1996,  and the
results of EBS's operations for the nine month period.

Selling,  general  and  administrative  expenses  for the nine  months and three
months  ended  September  30, 1997 were  $2,218,402  and $749,567 as compared to
$59,006 and $49,210 for the nine and three  months  ended  September  30,  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 nine months
and three months ended  September 30, 1997 was $64,840 and $23,420,  as compared
to $13,250 and $0 for the nine months and three months ended September 30, 1996.

For the nine months ended June 30, 1997,  the  Company's  net income  included a
non-cash  expense  of  $66,816.  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 $83,544 for the nine months ended  September  30, 1997 and
$30,760 for the three months ended  September  30, 1997,  compared to $0 for the
nine months and three months ended September 30, 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 nine months  ended  September  30, 1997 was $58,968,
reflecting

                                       -8-

<PAGE>



$41,541  interest due to holders of 5% of EBS Stock and $17,427  interest due to
holders of 10% of EBS Stock for the first quarter of 1997..

As a result of all the above  factors,  net income for the nine months and three
months ended September 30, 1997 was $549,326 and $269,664,  as compared to a net
loss of $72,256 for the nine months ended  September  30, 1996 and a net loss of
$49,210 for the three months ended September 30, 1996.

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 and Common Stock.  The primary  source of cash receipts is from
payments of accounts receivable and sales.

In July 1997,  the Company  purchased  500,000  shares of common  stock from the
original sellers of EBS for $233,000.

As of September 30, 1997, the Company had cash of $759,000.

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.
























                                       -9-

<PAGE>



PART II - Other Information

Item 5.           Other Information

                  During the quarter  ended  September  30,  1997,  the Board of
         Directors appointed Harold S. Fischer as President and Vito A. Bellezza
         as Chief Executive Officer of the Company.

Item 6.           Exhibit and Reports on form 8-K

         A.       Exhibits

                  None.

         B.       Report on Form 8-K

                  None.




























                                      -10-

<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: 11/12/97                     By: /s/ Vito Bellezza
                                    Vito Bellezza
                                    Chairman of the Board,
                                    Chief Financial Officer, Chief Executive
                                    Officer and Director





                                                       -11-

<PAGE>