<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                    FORM 10-Q

(Mark One)
  /X/      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
           EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 1996

  / /      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 0-16286
                       -------

                                 MEDPLUS CORPORATION
               -----------------------------------------------------
               (Exact name of registrant as specified in its charter)

            DELAWARE                                   95-4082020
--------------------------------          -----------------------------------
(State or other jurisdiction of           (IRS Employer identification number)
 incorporation or organization)

8  S. NEVADA AVE.,  STE. 500,  COLORADO SPRINGS, COLORADO     80903
------------------------------------------------------------------------------
(address of principle executive offices)                    (Zip Code)

                                   719-575-0044
               --------------------------------------------------
               (Registrants telephone number, including area code)

------------------------------------------------------------------------------
Former name, former address and former fiscal year, 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 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 
                                          -----        -----

                        APPLICABLE ONLY TO ISSUERS INVOLVED
                         IN BANKRUPTCY PROCEEDINGS DURING
                              THE PRECEDING FIVE YEARS

Indicate by check mark whether the registrant has filed all documents and
reports required to be filed by section 13 or 15 (d) of the Securities Exchange
Act of 1934 subsequent to the distribution requirements under a plan confirmed
by a court.   Yes          No      
                 -----        -----

                       APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.
  CLASS                                 OUTSTANDING AT JANUARY 23, 1997
------------------------------------------------------------------------------
  Common Stock, Par-Value                           10,496,774
------------------------------------------------------------------------------
  $.001 per share
------------------------------------------------------------------------------

<PAGE>

                               MEDPLUS CORPORATION

                               REPORT ON FORM 10-Q

                                TABLE OF CONTENTS


PART I                                                             PAGE NUMBER
                                                                   -----------
ITEM 1.  -  FINANCIAL INFORMATION

        Balance Sheets at September 30, 1996
              and March 31, 1996 ......................................  3
        Statements of Operations for the
              Six Months Ended September 30, 1996 
              and September 30, 1995...................................  5

        Statements of Cash Flows for the 
              Six Months Ended September 30, 1996
              and September 30, 1995...................................  6

        Notes to Financial Statements..................................  7

ITEM 2.  -  MANAGEMENT'S DISCUSSION AND ANALYSIS OF THE
            FINANCIAL CONDITION AND RESULTS OF 
            OPERATIONS................................................. 10

PART II

       Other Information............................................... 12

       Signature Page.................................................. 14





                                       2

<PAGE>

                                   PART I
                        ITEM 1.  FINANCIAL INFORMATION
                              MEDPLUS CORPORATION



CONSOLIDATED BALANCE SHEETS

ASSETS                            September 30, 1996     March 31, 1996
                                     (Unaudited)
CURRENT ASSETS:
Cash and cash equivalents             $    2,622           $    7,778
Accounts receivable                       17,475               23,639
Inventory  (Note 5)                        5,891
Prepaid expenses and other
  current assets                           5,573                  515
                                      ----------           ----------

Total current assets                      31,561               31,932
                                      ----------           ----------

PROPERTY:
Office Equipment                          45,660               16,966
Furniture and Fixtures                    25,726                3,033
Leasehold Improvements                    87,785
                                      ----------           ----------

Total                                    159,171               19,999
Less accumulated depreciation             19,034               10,072
                                      ----------           ----------

Net property                             140,137                9,927
                                      ----------           ----------

OTHER                                      3,541                4,375
                                      ----------           ----------

TOTAL ASSETS                          $  175,239           $   46,234
                                      ----------           ----------
                                      ----------           ----------


                 See accompanying notes to financial statements



                                       3

<PAGE>

MEDPLUS CORPORATION

CONSOLIDATED BALANCE SHEETS  CONTINUED

                                            September 30, 1996   March 31, 1996
LIABILITIES AND SHAREHOLDERS' EQUITY           (Unaudited)

CURRENT LIABILITIES:

Accounts payable and accrued
  expenses                                     $   540,063         $   313,620
Notes payable  (Note 4)                            323,371             205,470
Deferred Salaries                                    3,224               8,073
                                               -----------         -----------

Total current liabilities                          866,658             527,163
                                               -----------         -----------

Long term note payable

Total liabilities                                  866,658             527,163
                                               -----------         -----------

SHAREHOLDERS' EQUITY:
Preferred stock, $.001 par value;
  authorized 2,000,000 shares;
  no shares outstanding
Common stock, $.001 par value;
  authorized, 30,000,000 shares;
  issued and outstanding, 9,529,740
  and 8,895,278 shares at September 30, 1996
  and March 31, 1996 respectively                   23,248              23,356
Additional paid in capital                       6,987,583           6,851,145
Accumulated deficit                             (7,702,250)         (7,355,430)
                                               -----------         -----------

Net shareholders' equity                          (691,419)           (480,929)
                                               -----------         -----------

TOTAL                                          $   175,239         $    46,234
                                               -----------         -----------
                                               -----------         -----------


                 See accompanying notes to financial statements


                                       4

<PAGE>

                              MEDPLUS CORPORATION
                     CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

                                 Three Month Period        Six Month Period
                                 Ended September 30,      Ended September 30,
                             ------------------------   ----------------------
                                 1996        1995          1996        1995
                                 ----        ----          ----        ----

REVENUES:                    $   28,190   $     8,548   $   74,633  $   21,951

EXPENSES:
General and Administrative       82,403       38,567       222,146      69,020
Sales and Marketing              99,607       38,802       199,486      84,866
Operations                       86,443                     89,853

Total expenses                  268,453       77,369       511,485     153,886
                             ----------   -----------   ----------  ----------

Operating loss                 (240,263)     (68,821)     (436,852)   (131,935)

OTHER INCOME:
Interest income                       7                         34
Other Income                     90,000                     90,000
                             ----------   -----------   ----------  ----------

Total other income               90,007                     90,034

Net loss                       (150,256)     (68,821)     (346,818)   (131,935)
                             ----------   -----------   ----------  ----------

Net Loss per share of 
  common stock                    (0.02)       (0.01)        (0.04)      (0.03)
                             ----------   -----------   ----------  ----------
                             ----------   -----------   ----------  ----------

Weighted average number of
  common shares outstanding   9,456,407    5,419,890     8,014,829   4,282,607


                            See accompanying financial statements



                                       5

<PAGE>

                              MEDPLUS CORPORATION
                     CONSOLIDATED STATEMENTS OF CASH FLOWS
                                  (UNAUDITED)

                                                      SIX MONTH PERIOD ENDED

                                                            September 30,
                                                         1996           1995
                                                         ----           ----
CASH FLOWS (USED BY) OPERATING ACTIVITIES:
Net loss                                             $ (346,818)     $ (131,935)
Adjustments to reconcile net income (loss) to net
  cash from (used) by operating activities:
  Depreciation and amortization                           9,796           2,143
  (Increase) decrease in assets:
    Accounts receivable                                   6,164
    Inventory                                            (5,891)
    Prepaid expenses and other current
      assets                                             (5,058)            542
    Increase (decrease) in liabilities:
    Accounts payable and accrued expenses               221,594          12,275
                                                     ----------      ----------
Total cash provided (used) by operating activities     (120,213)       (116,975)

CASH FLOWS FROM (USED BY) INVESTING ACTIVITIES:
Proceeds from sale of equipment                                           5,000
Additions to property, plant and equipment             (139,172)
                                                     ----------      ----------
Total cash provided (used) by investing activities     (139,172)          5,000

CASH FLOWS FROM (USED BY) FINANCING ACTIVITIES:
Purchase of short term debt                             117,901
Payment on long term debt                                                (6,000)
Payment of note payable                                                (103,806)
Issuance of common stock                                136,328         208,192
                                                     ----------      ----------
Total cash from (used by) financing activities          254,229          98,386

Increase (decrease) in cash and cash equivalents         (5,156)        (13,589)
Cash and cash equivalents at beginning of period          7,778          14,212
                                                     ----------      ----------

Cash and cash equivalents at end of period           $    2,622      $      623
                                                     ----------      ----------
                                                     ----------      ----------



                                       6


<PAGE>

                             MEDPLUS CORPORATION

                  NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

1.  GOING CONCERN

    The accompanying unaudited consolidated financial statements have been 
    prepared on a going concern basis, which contemplates the realization of 
    assets and the satisfaction of liabilities in the normal course of 
    business. As reflected in the Company's most recent 10-K for the fiscal 
    year ended March 31, 1996, the Company has incurred significant losses 
    from operations during the years ended March 31, 1996, 1995 and 1994 
    and at March 31, 1996, 1995 and 1994 have negative working capital and 
    negative shareholders' equity. The consolidated financial statements do 
    not include any adjustments relating to the recoverability and 
    classification of recorded asset amounts or the amounts and 
    classification of liabilities that might be necessary should the Company  
    be unable to continue as a going concern. The Company's continuation as a 
    going concern is dependent upon its ability to generate sufficient cash 
    to meet its obligations on a timely basis, to obtain financing as may be 
    required, and ultimately to attain successful operations. Management is 
    continuing its efforts to obtain additional funds needed for the 
    successful operation of the Company.

2.  BASIS OF PRESENTATION

    The accompanying unaudited consolidated financial statements of MEDPLUS 
    CORPORATION contain all adjustments (consisting of only normal recurring 
    adjustments) which, in the opinion of management are necessary to present 
    fairly the financial position of the Company as of the periods ended 
    September 30, 1996 and March 31, 1996, and the results of operations and 
    its cash flows for the six month periods ended September 30, 1996 and 
    September 30, 1995. Certain information and footnote disclosures normally 
    included in financial statements have been condensed or omitted pursuant 
    to rules and regulations of the Securities and Exchange Commission, 
    although the registrant believes that the disclosures in the consolidated 
    financial statements are adequate to make the information presented not 
    misleading.

    INCOME TAXES - As of September 30, 1996 the Company has net operating 
    loss carryforwards of approximately $2,201,000, which can be utilized in 
    future periods to offset future taxable income.  The net operating loss 
    carryforwards begin expiring in the year 2000.  Due to the Company's net 
    operating loss position and carryforwards the adoption of SFAS 109 has no 
    material impact.

    The unaudited consolidated financial statements included herein should be 
    read in conjunction with the consolidated financial statements of the 
    Company for the year ended March 31, 1996, included in the Company's 
    Annual Report on Form 10-K.

3.  COMPUTATION OF NET LOSS PER SHARE

    Net loss per share is computed by dividing net loss by the weighted 
    average number of shares of common stock outstanding. Options and 
    warrants are not included because their effect would be antidilutive.



                                       7

<PAGE>


4.  NOTES PAYABLE TO RELATED PARTIES

    Notes payable to related parties at September 30, 1996 and March 31, 1996
    consists of the following:

<TABLE>
                                                   September 30, 1996    March 31, 1996
                                                         Unaudited
                                                   ------------------    --------------
      <S>                                                 <C>                 <C>
    Unsecured note payable to Company director
     bearing interest at 10% per annum, 
     $10,000 together with accrued interest
     and $15,000 together with accrued 
     interest, is payable upon the Company
     obtaining $100,000 and $500,000 in
     equity financing, respectively.                      $ 25,000          $ 25,000

    Unsecured note payable to a former officer and
     director of the Company bearing interest
     at 18% per annum. The note is past due 
     and is currently under dispute.                        40,500            40,500

    Unsecured note payable to a former shareholder
     and officer of the Company. The note is 
     non-interest bearing, due in equal monthly
     installments of $2,000 from May 1995
     through April 1997 in addition to a 
     balloon payment of $123,868 payable in
     May 1997. This note has been discounted
     $24,868 and $46,256 at September 30, 1996
     and March 31, 1996, respectively, to reflect
     an effective interest rate of 18%. Payments 
     on this note are currently in default.                137,970           139,970

    Unsecured note payable to a employee of the
     Company bearing interest at 11% per
     annum.                                                 18,401                 0

    Secured note payable to a employee of the
     Company bearing interest at 10%
     per annum. Due and payable on    
     December 29, 1996. Note is secured  
     with stock owned by an officer and  
     director of the Company.                               50,000                 0

    Secured note payable to a employee of the
     Company bearing interest at a variable 
     rate. Due and payable June 5, 1997. 
     Note is secured with stock owned by a
     director of the Company.                               15,000                 0
                                                          --------          --------

    Total                                                 $286,871          $205,470
    Less current portion                                   286,871           205,470
                                                          --------          --------

    Long-term portion                                     $      0          $      0
                                                          --------          --------
</TABLE>


                                            8

<PAGE>

    NOTE PAYABLE

    Notes payable to related parties consist of the following:

<TABLE>
                                                     September 30, 1996    March 31, 1996
                                                         Unaudited
                                                     ------------------    --------------
            <S>                                             <C>                 <C>
     Unsecured note payable to an outside party
      Bearing interest at 12% per annum
      Due and payable on March 5, 1997.                  $ 25,000            $      0
                                                         --------            --------

     Total                                               $ 25,000            $      0
     Less Current portion                                  25,000                   0
                                                         --------            --------

     Long-term portion                                   $      0            $      0
                                                         --------            --------

     Total short-term debt                               $311,871            $205,470
                                                         --------            --------
</TABLE>

    As of September 30, 1997, all notes are considered current.

5.  INVENTORIES

    Inventories on hand at September 30, 1996 consist of operating supply
    inventory for the Company's occupational health care clinic the components
    of which are the following:

<TABLE>
                                                     September 30, 1996    March 31, 1996
                                                         Unaudited
                                                     ------------------    --------------
            <S>                                             <C>                 <C>
     Medical supplies                                    $  5,891            $      0
                                                         --------            --------

     Total Inventories                                   $  5,891            $      0
                                                         --------            --------
</TABLE>




                                           9

<PAGE>

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


LIQUIDITY AND CAPITAL RESOURCES

At September 30, 1996, the Company had working capital of ($ 835,097) compared
to working capital of ($ 483,690) at March 31, 1996. The decline in working
capital is primarily due to the Company's net loss for the six months ended
September 30, 1996. The Company's current liabilities are higher than its assets
due primarily to borrowings in the form of promissory notes from related parties
along with accrued payables and expenses.

The Company's liquidity position is severely strained. Liquidity needs are
currently being met from revenues and short-term borrowing in the form of
promissory notes. Because the Company has not achieved positive cash flow from
its operating activities, the Company's ability to continue operations is
dependent upon its ability to raise additional equity and/or debt financing.
This and other factors raise substantial doubt as to the Company's ability to
continue as a going concern. Management believes the Company needs approximately
$ 750,000 to $ 1,000,000 in equity or debt financing in order to sustain
operations for the next twelve months following the period ended September 30,
1996. On or about January 20, 1997 the Company received a proposal from R.M.
Stark & Company, located in Delray Beach, Florida, with respect to a proposed
Public Offering of the Company's common stock in the amount of $ 5 million
dollars. Also under terms of a previous  letter of intent Wall Street
Connections and R.M. Stark & Company will assist the Company in raising
approximately  $ 800,000 to $ 1,000,000 in bridge financing in the form of
issuance of promissory notes convertible into the Company's common stock. The
proceeds of this offering will be utilized to expand the Company's marketing
activities, for future acquisitions and to reduce the Company's debt. Although
the Company is actively engaged in activities with intent to raise equity and/or
debt financing in order to meet its long-term liquidity needs, there can be no
assurance that the Company will be able to consummate the transaction and/or
raise the additional financing necessary for continuing operations. As of 
September 30, 1996 there were no known demands, commitments or uncertainties
affecting cash flows other than normal accounts payable demands. (See Item 5.
Other Information.)

RESULTS OF OPERATIONS

Revenue derived from the sale of the Company's services increased 230% from 
$8,548 during the three month period ended September 30, 1996 to $ 28,190 during
the three month period ended September 30, 1996 and increased 240% from $ 21,951
during the six month period ended September 30, 1995 to   $74,633 during the six
month period ended September 30, 1996. The Company's revenue increase during the
three month period ended September 30, 1996 is due primarily to $ 19,112 in
revenues derived from the Company's occupational health care clinic, located in
Colorado Springs, Colorado.  The Company opened its occupational health care
clinic on or about August 1, 1996 and the $ 19,112  in revenues, mentioned
above, represents the clinic's first two months of operations.  Revenues derived
from sales of the Company's health care credit card services increased slightly
to $ 9,078 during the three month period ended September 30, 1996 form $ 8,548
during the three month period ended September 30, 1995. Although revenues
realized from sales of the Company's health care credit card services increased
slightly during the three month period ended September 30, 1996, the Company's
loan volumes generated to United States Bank of Oregon from the sales of its
health care credit card services have increased  significantly. However, United
States Bank of Oregon has unilaterally decided to withhold the revenues owed the
Company on this increase in loan volume generation in order to increase its
reserve pool for bad debt. The Company is currently in dispute with United
States Bank of Oregon , and with Card Northwest-TM-, over the withholding of the
Company's revenues and is exploring remedies to this dispute including the
possibility of legal action.  (See Item 5. Other information)


                                      10


<PAGE>

The increase in revenues during the six month period ended September 30, 1996 is
due primarily to the $19,112 in revenues generated by the Company's occupational
health care clinic during its first two months of operation along with an
increase of 153% in revenues realized from sales of the Company's health care
credit card services from $ 21,951 during the six month period ended September
30, 1995 to $ 55,521 during the six month period ended September 30, 1996. 

General and administrative expenses  increased 114%  from $ 38,567 during the
three month period ended September 30, 1995 to $ 82,403  during the three month
period ended September 30, 1996 and increased 222% from $ 69,020 during the six
month period ended September 30, 1995 to $ 222,146 during the six month period
ended September 30, 1996. The increase of 114% and 222% during the three month
and six month periods ended September 30, 1996 is due primarily to increases in
personnel to support the Company's occupational health care clinic in Colorado
Springs and personnel to support the Company's health care credit card services
in California.  

Sales and marketing expenses increased 157% from $ 38,802 during the three month
period ended September 30, 1995 to $ 99,607 during the three month period ended
September 30, 1996 and increased 135% from $ 84,866 during the six month period
ended September 30, 1995 to $ 199,486 during the six month period ended
September 30, 1996. The increase of 157% and 135% during the three and six 
month periods ended September 30, 1996 is primarily due to  the addition of
sales and marketing personnel and related expenses  to promote the Company's
occupational health care clinic along with an increase in  sales and marketing
personnel and related expense for the Company's health care credit card services
field offices in California.

Operations expense of $ 86,443 for the three month period ended September 30,
1996 and $ 89,853 for the six month period ended September 30, 1996 represents 
personnel and related expenses to operate the Company's occupational health care
clinic for the first two months of operation during the three month period ended
September 30, 1996.

Other income of $ 90,000 for the three month and six month periods ended
September 30, 1996 represents a one time recognition of income realized from the
default on funds  deposited by Pacific Corporate Equities, Inc.  to the Company
in anticipation a capital infusion of $10 million dollars by Pacific Corporate
Equities and Starboard Holding Co.  As reported in the Company's report on Form
10-Q for the period ended June 30, 1996 Pacific Corporate Equities and Starboard
Holding were unable to perform the anticipated $ 10 million dollar financing
therefore under the terms of the letter of intent between the Company and
Pacific Corporate Equities the Company retained the $ 90,000 deposited with the
Company to hold its exclusivity with regards to the $ 10 million dollar
financing.















                                      11

<PAGE>


                          PART II OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

     The Company is in litigation with a former president of the Company who 
alleges failure of the Company to make certain payments under a promissory 
note in the purported amount of $70,000 to $90,000. Management is 
vigorously contesting this litigation, has denied any failure to pay and has 
asserted certain counter claims against the former president. No amounts are 
recorded in the financial statements of the Company, other than the $40,500 
note payable (and related accrued interest) to the former president, in 
anticipation of any losses pursuant to this litigation.

ITEM 2.   CHANGES IN SECURITIES

          None

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

          None

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS

          None

ITEM 5.  OTHER INFORMATION

     On or about November 14, 1996 the Company entered into a letter of intent
with Fringe Benefits Management Company ("FBMC"), located in Tallahassee,
Florida, to form a strategic alliance relationship to combine products and
relationships in a joint effort. Under the terms of the letter FBMC will work
with the Company to integrate FBMC's line of employee benefits programs and
other relationships or products with the Company's  private label credit card
and bank card , bank card relationships, electronic data information network and
other relationships or products. It is anticipated by both FBMC and the Company
that such a strategic relationship would significantly enhance the value and
marketability of both FBMC and the Company's products.

     On or about January 10, 1997 the Company signed an agreement with Credit
Card Management Corporation of Evansville, Indiana ("CMC") whereby CMC will be
the exclusive provider of processing and support services for the Company's
private label credit card and merchant locations nationwide. In addition, CMC
will assist the Company in selecting one or more appropriate financial lending
institutions, with which CMC has an existing relationship, and act as a conduit
towards negotiating lending agreements between the Company and such financial
lending institutions.  CMC provides processing and support services for small to
medium-sized banks who are credit card issuers but cannot be profitable
providing their own processing and support services due to low loan volume
generation.  CMC contracts with First Data Corporation ("FDC"), the largest
credit card processor in the world, to provide the electronic data information
systems and networks to operate their programs.  By having the ability to
contract and deal with more than one lending institution the Company will be in
a position control over its own program. 

     On or about January 20, 1997 the Company received a revised letter of 
intent from R.M. Stark & Company with respect to a proposed Public Offering 
of the Company's common stock in the amount of  Five Million Dollars 
($5,000,000.00) of which One Million Dollars ($1,000,000.00) will be offered 
on a "firm commitment" basis and Four Million Dollars ($4,000,000.00) will be 
offered on a "best efforts" basis.  The proceeds from this offering will be 
utilized to expand the Company's marketing activities, for future 
acquisitions and to reduce the Company's debt.



                                      12

<PAGE>

     On or about January 23, 1997 signed a letter of intent with American 
Insurance Marketing Corporation ("AIMC") and Maryland Southern Life Insurance 
("MSLI"), a Global Health Services/The Southern Group JV, to integrate the 
Company's line of health care financial service products with AIMC and MSLI's 
line of employee fringe benefits products. Under the terms of the letter the 
Company will work towards providing AIMC and MSLI access to the Company's 
health care credit card capabilities, bank credit card relationships , credit 
processing relationships, health care claims processing relationships among 
other financial and health care products or services. AIMC and MSLI will work 
towards integrating the Company's health care credit card with AIMC's line of 
benefits products along with access to AIMC's laser card relationship, laser 
card software technology, plan administration and benefits administration and 
other products or relationships. AIMC and MSLI market a Erisa Trust Health 
Plan and a discount PPO group to employers and associations in six 
Mid-Atlantic States. The health plan lives associated with AIMC and MSLI are 
projected to be 1.8 million.







                                      13


<PAGE>


SIGNATURES

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


                                        MEDPLUS CORPORATION


August 11, 1994                         James W. Snyder
                                        ----------------------------------
                                        James W.. Snyder, President and
                                        Chief Executive Officer



August 11, 1994                         Robert T. Ryman
                                        ----------------------------------
                                        Robert T. Ryman, Vice President
                                        of Finance; Chief Financial Officer;
                                        Secretary and Treasurer































                                      14